Seeking the opinion of the buyers out there.

[Coronita]

[quote=temeculaguy]WFB and Thread come out of the closet on the same day and join the dark side, what is this world coming to? Hope you both stick around, were losing the old guard fairly quickly these days. I know flu and I (and a few others) still hang out because we think we are gonna pick up some cheap rentals if the shadow thing ever does appear, but like you, I’ve believed for so long I’m starting to think I have a better chance of seeing bigfoot.[/quote]

I’m still seeing if I can pick up cheap(er) property or a better primary….Just not holding my breath though, because I think i missed the boat (in the near term) for the more affordable stuff and the higher end stuff is still ways away. Oh well, guess that’s my message to focus on other things…

RE in China is getting interesting too…One thing…Folks have suggested buying property in Vietnam if can….Cheap labor is moving to Vietnam, coming soon to a theater near you, apparently

[CA renter]

We are surprised at the optimism, too.

My husband has what is considered to be one of the most secure jobs out there, and even he is looking at a possible 15% pay cut. Then there’s the very real possibility that healthcare and pension cuts are on the way, too.

Perhaps I’m too cynical, but when Obama was saying that this was going to be a long, drawn-out recession, and that it would “get worse before it gets better,” he was roundly criticized and told to be more cheerful and optimistic. All of a sudden, everyone in the MSM is seeing “green shoots” everywhere and claiming that the worst is behind us. I’m just not buying it — though admit I could very well be wrong. Something just doesn’t feel right about the whole “end of the recession” meme.

We’re still on the sidelines, but are looking at areas that haven’t fallen much yet. In the lower-end/more affordable areas, there is admittedly less risk if one should choose buying over renting.

[CA renter]

We are surprised at the optimism, too.

My husband has what is considered to be one of the most secure jobs out there, and even he is looking at a possible 15% pay cut. Then there’s the very real possibility that healthcare and pension cuts are on the way, too.

Perhaps I’m too cynical, but when Obama was saying that this was going to be a long, drawn-out recession, and that it would “get worse before it gets better,” he was roundly criticized and told to be more cheerful and optimistic. All of a sudden, everyone in the MSM is seeing “green shoots” everywhere and claiming that the worst is behind us. I’m just not buying it — though admit I could very well be wrong. Something just doesn’t feel right about the whole “end of the recession” meme.

We’re still on the sidelines, but are looking at areas that haven’t fallen much yet. In the lower-end/more affordable areas, there is admittedly less risk if one should choose buying over renting.

[CA renter]

We are surprised at the optimism, too.

My husband has what is considered to be one of the most secure jobs out there, and even he is looking at a possible 15% pay cut. Then there’s the very real possibility that healthcare and pension cuts are on the way, too.

Perhaps I’m too cynical, but when Obama was saying that this was going to be a long, drawn-out recession, and that it would “get worse before it gets better,” he was roundly criticized and told to be more cheerful and optimistic. All of a sudden, everyone in the MSM is seeing “green shoots” everywhere and claiming that the worst is behind us. I’m just not buying it — though admit I could very well be wrong. Something just doesn’t feel right about the whole “end of the recession” meme.

We’re still on the sidelines, but are looking at areas that haven’t fallen much yet. In the lower-end/more affordable areas, there is admittedly less risk if one should choose buying over renting.

[CA renter]

We are surprised at the optimism, too.

My husband has what is considered to be one of the most secure jobs out there, and even he is looking at a possible 15% pay cut. Then there’s the very real possibility that healthcare and pension cuts are on the way, too.

Perhaps I’m too cynical, but when Obama was saying that this was going to be a long, drawn-out recession, and that it would “get worse before it gets better,” he was roundly criticized and told to be more cheerful and optimistic. All of a sudden, everyone in the MSM is seeing “green shoots” everywhere and claiming that the worst is behind us. I’m just not buying it — though admit I could very well be wrong. Something just doesn’t feel right about the whole “end of the recession” meme.

We’re still on the sidelines, but are looking at areas that haven’t fallen much yet. In the lower-end/more affordable areas, there is admittedly less risk if one should choose buying over renting.

[CA renter]

We are surprised at the optimism, too.

My husband has what is considered to be one of the most secure jobs out there, and even he is looking at a possible 15% pay cut. Then there’s the very real possibility that healthcare and pension cuts are on the way, too.

Perhaps I’m too cynical, but when Obama was saying that this was going to be a long, drawn-out recession, and that it would “get worse before it gets better,” he was roundly criticized and told to be more cheerful and optimistic. All of a sudden, everyone in the MSM is seeing “green shoots” everywhere and claiming that the worst is behind us. I’m just not buying it — though admit I could very well be wrong. Something just doesn’t feel right about the whole “end of the recession” meme.

We’re still on the sidelines, but are looking at areas that haven’t fallen much yet. In the lower-end/more affordable areas, there is admittedly less risk if one should choose buying over renting.

[4plexowner]

1. what about the fact that 25% of our workforce (Baby Boomers) are going to try to retire over the next ten years?

many of them will try to downsize by selling their houses

ie, more shadow inventory

2. what about the 14 million vacant homes in America? That’s at least 10 months of supply and, according to Rich and others, there is downward price pressure anytime there is more than 8 months of supply

ie, lots of ‘have to sell’ inventory

3. what about the fact that previous real estate downturns in SoCal have been 6 to 7 years which puts a bottom in 2012 to 2014 at the earliest?

~

seems like people either aren’t aware of these little details or they are choosing to ignore/deny them

oh well, knife-catchers are part of the process …

[4plexowner]

1. what about the fact that 25% of our workforce (Baby Boomers) are going to try to retire over the next ten years?

many of them will try to downsize by selling their houses

ie, more shadow inventory

2. what about the 14 million vacant homes in America? That’s at least 10 months of supply and, according to Rich and others, there is downward price pressure anytime there is more than 8 months of supply

ie, lots of ‘have to sell’ inventory

3. what about the fact that previous real estate downturns in SoCal have been 6 to 7 years which puts a bottom in 2012 to 2014 at the earliest?

~

seems like people either aren’t aware of these little details or they are choosing to ignore/deny them

oh well, knife-catchers are part of the process …

[4plexowner]

1. what about the fact that 25% of our workforce (Baby Boomers) are going to try to retire over the next ten years?

many of them will try to downsize by selling their houses

ie, more shadow inventory

2. what about the 14 million vacant homes in America? That’s at least 10 months of supply and, according to Rich and others, there is downward price pressure anytime there is more than 8 months of supply

ie, lots of ‘have to sell’ inventory

3. what about the fact that previous real estate downturns in SoCal have been 6 to 7 years which puts a bottom in 2012 to 2014 at the earliest?

~

seems like people either aren’t aware of these little details or they are choosing to ignore/deny them

oh well, knife-catchers are part of the process …

[4plexowner]

1. what about the fact that 25% of our workforce (Baby Boomers) are going to try to retire over the next ten years?

many of them will try to downsize by selling their houses

ie, more shadow inventory

2. what about the 14 million vacant homes in America? That’s at least 10 months of supply and, according to Rich and others, there is downward price pressure anytime there is more than 8 months of supply

ie, lots of ‘have to sell’ inventory

3. what about the fact that previous real estate downturns in SoCal have been 6 to 7 years which puts a bottom in 2012 to 2014 at the earliest?

~

seems like people either aren’t aware of these little details or they are choosing to ignore/deny them

oh well, knife-catchers are part of the process …

[4plexowner]

1. what about the fact that 25% of our workforce (Baby Boomers) are going to try to retire over the next ten years?

many of them will try to downsize by selling their houses

ie, more shadow inventory

2. what about the 14 million vacant homes in America? That’s at least 10 months of supply and, according to Rich and others, there is downward price pressure anytime there is more than 8 months of supply

ie, lots of ‘have to sell’ inventory

3. what about the fact that previous real estate downturns in SoCal have been 6 to 7 years which puts a bottom in 2012 to 2014 at the earliest?

~

seems like people either aren’t aware of these little details or they are choosing to ignore/deny them

oh well, knife-catchers are part of the process …

[waiting for bottom]

[quote=4plexowner]
seems like people either aren’t aware of these little details or they are choosing to ignore/deny them

oh well, knife-catchers are part of the process …[/quote]

Fully aware and not ignoring. Prices could fall another 20% where I bought. Sure, there is an opportunity cost to that but it doesn’t change the fact that I can easily afford my payment and I like my house, neighborhood, and schools.

If rates go up to 7.5% and my house declines 20%, the payment on my house will be the same as it is now. Seems like equal risk on both sides of this equation – hence time for me to buy.

[waiting for bottom]

[quote=4plexowner]
seems like people either aren’t aware of these little details or they are choosing to ignore/deny them

oh well, knife-catchers are part of the process …[/quote]

Fully aware and not ignoring. Prices could fall another 20% where I bought. Sure, there is an opportunity cost to that but it doesn’t change the fact that I can easily afford my payment and I like my house, neighborhood, and schools.

If rates go up to 7.5% and my house declines 20%, the payment on my house will be the same as it is now. Seems like equal risk on both sides of this equation – hence time for me to buy.

[waiting for bottom]

[quote=4plexowner]
seems like people either aren’t aware of these little details or they are choosing to ignore/deny them

oh well, knife-catchers are part of the process …[/quote]

Fully aware and not ignoring. Prices could fall another 20% where I bought. Sure, there is an opportunity cost to that but it doesn’t change the fact that I can easily afford my payment and I like my house, neighborhood, and schools.

If rates go up to 7.5% and my house declines 20%, the payment on my house will be the same as it is now. Seems like equal risk on both sides of this equation – hence time for me to buy.

[waiting for bottom]

[quote=4plexowner]
seems like people either aren’t aware of these little details or they are choosing to ignore/deny them

oh well, knife-catchers are part of the process …[/quote]

Fully aware and not ignoring. Prices could fall another 20% where I bought. Sure, there is an opportunity cost to that but it doesn’t change the fact that I can easily afford my payment and I like my house, neighborhood, and schools.

If rates go up to 7.5% and my house declines 20%, the payment on my house will be the same as it is now. Seems like equal risk on both sides of this equation – hence time for me to buy.

[Author]

Posts