Seeking the opinion of the buyers out there.

[Rt.66]

TG, Yeah we’ve been down the “Temecula is different road” Ahh the memories!

That was as good a comedy routine as RE thread IMHO. I have not felt so comedic lately.

[temeculaguy]

But I think the ones I linked fit your criteria that you posted on another thread, about you wanting a 10 year mortgage. While it’s a lofty goal and not likely to be commonplace, the median income in the zip of those condos is 68k, with 20% down on a 100k, an 80k mortgage for 10 years at 6% is $888 P&I. You could pull off your formula with those examples, sure it isn’t big and it’s not on the beach, but if your melancholy mood these days has you thinking that La Jolla mansions will be 100k, then the eventual reality will depress you even more. I’m just trying to help, math can be fun.

[temeculaguy]

But I think the ones I linked fit your criteria that you posted on another thread, about you wanting a 10 year mortgage. While it’s a lofty goal and not likely to be commonplace, the median income in the zip of those condos is 68k, with 20% down on a 100k, an 80k mortgage for 10 years at 6% is $888 P&I. You could pull off your formula with those examples, sure it isn’t big and it’s not on the beach, but if your melancholy mood these days has you thinking that La Jolla mansions will be 100k, then the eventual reality will depress you even more. I’m just trying to help, math can be fun.

[temeculaguy]

But I think the ones I linked fit your criteria that you posted on another thread, about you wanting a 10 year mortgage. While it’s a lofty goal and not likely to be commonplace, the median income in the zip of those condos is 68k, with 20% down on a 100k, an 80k mortgage for 10 years at 6% is $888 P&I. You could pull off your formula with those examples, sure it isn’t big and it’s not on the beach, but if your melancholy mood these days has you thinking that La Jolla mansions will be 100k, then the eventual reality will depress you even more. I’m just trying to help, math can be fun.

[temeculaguy]

But I think the ones I linked fit your criteria that you posted on another thread, about you wanting a 10 year mortgage. While it’s a lofty goal and not likely to be commonplace, the median income in the zip of those condos is 68k, with 20% down on a 100k, an 80k mortgage for 10 years at 6% is $888 P&I. You could pull off your formula with those examples, sure it isn’t big and it’s not on the beach, but if your melancholy mood these days has you thinking that La Jolla mansions will be 100k, then the eventual reality will depress you even more. I’m just trying to help, math can be fun.

[temeculaguy]

But I think the ones I linked fit your criteria that you posted on another thread, about you wanting a 10 year mortgage. While it’s a lofty goal and not likely to be commonplace, the median income in the zip of those condos is 68k, with 20% down on a 100k, an 80k mortgage for 10 years at 6% is $888 P&I. You could pull off your formula with those examples, sure it isn’t big and it’s not on the beach, but if your melancholy mood these days has you thinking that La Jolla mansions will be 100k, then the eventual reality will depress you even more. I’m just trying to help, math can be fun.

[waiting for bottom]

[quote=JohnAlt91941]
The problem with that thinking is that prices are partially dependent on interest rates. Rates go up, prices go down.

If a hypothetical 20% additional drop in prices was just caused by higher interest rates, your argument would be valid. But many think prices still have a way to go down independent of interest rates, with higher rates just making it more so. And in that case your payment would NOT be the same.
[/quote]

You are mis-interpreting me. I agree those two are mostly independent. I’m just saying that we don’t know what rates will be when/if a 20% decline takes place. If they happen to be 7.5%, I’m in the same place as I was before the 20% happened.

[waiting for bottom]

[quote=JohnAlt91941]
The problem with that thinking is that prices are partially dependent on interest rates. Rates go up, prices go down.

If a hypothetical 20% additional drop in prices was just caused by higher interest rates, your argument would be valid. But many think prices still have a way to go down independent of interest rates, with higher rates just making it more so. And in that case your payment would NOT be the same.
[/quote]

You are mis-interpreting me. I agree those two are mostly independent. I’m just saying that we don’t know what rates will be when/if a 20% decline takes place. If they happen to be 7.5%, I’m in the same place as I was before the 20% happened.

[waiting for bottom]

[quote=JohnAlt91941]
The problem with that thinking is that prices are partially dependent on interest rates. Rates go up, prices go down.

If a hypothetical 20% additional drop in prices was just caused by higher interest rates, your argument would be valid. But many think prices still have a way to go down independent of interest rates, with higher rates just making it more so. And in that case your payment would NOT be the same.
[/quote]

You are mis-interpreting me. I agree those two are mostly independent. I’m just saying that we don’t know what rates will be when/if a 20% decline takes place. If they happen to be 7.5%, I’m in the same place as I was before the 20% happened.

[waiting for bottom]

[quote=JohnAlt91941]
The problem with that thinking is that prices are partially dependent on interest rates. Rates go up, prices go down.

If a hypothetical 20% additional drop in prices was just caused by higher interest rates, your argument would be valid. But many think prices still have a way to go down independent of interest rates, with higher rates just making it more so. And in that case your payment would NOT be the same.
[/quote]

You are mis-interpreting me. I agree those two are mostly independent. I’m just saying that we don’t know what rates will be when/if a 20% decline takes place. If they happen to be 7.5%, I’m in the same place as I was before the 20% happened.

[waiting for bottom]

[quote=JohnAlt91941]
The problem with that thinking is that prices are partially dependent on interest rates. Rates go up, prices go down.

If a hypothetical 20% additional drop in prices was just caused by higher interest rates, your argument would be valid. But many think prices still have a way to go down independent of interest rates, with higher rates just making it more so. And in that case your payment would NOT be the same.
[/quote]

You are mis-interpreting me. I agree those two are mostly independent. I’m just saying that we don’t know what rates will be when/if a 20% decline takes place. If they happen to be 7.5%, I’m in the same place as I was before the 20% happened.

[Reality]

[quote=waiting for bottom][quote=JohnAlt91941]
The problem with that thinking is that prices are partially dependent on interest rates. Rates go up, prices go down.

If a hypothetical 20% additional drop in prices was just caused by higher interest rates, your argument would be valid. But many think prices still have a way to go down independent of interest rates, with higher rates just making it more so. And in that case your payment would NOT be the same.
[/quote]

You are mis-interpreting me. I agree those two are mostly independent. I’m just saying that we don’t know what rates will be when/if a 20% decline takes place. If they happen to be 7.5%, I’m in the same place as I was before the 20% happened.[/quote]

I think in most areas there is still much falling to do, and higher interest rates would just accelerate it. I think the threat of higher interest rates is partially responsible for this spring’s “rally”.

I also disagree that you’d be in the same place if your payment was the same. The person who bought at a lower principle and higher interest rate would benefit both by lower property taxes and a higher deducation.

[Reality]

[quote=waiting for bottom][quote=JohnAlt91941]
The problem with that thinking is that prices are partially dependent on interest rates. Rates go up, prices go down.

If a hypothetical 20% additional drop in prices was just caused by higher interest rates, your argument would be valid. But many think prices still have a way to go down independent of interest rates, with higher rates just making it more so. And in that case your payment would NOT be the same.
[/quote]

You are mis-interpreting me. I agree those two are mostly independent. I’m just saying that we don’t know what rates will be when/if a 20% decline takes place. If they happen to be 7.5%, I’m in the same place as I was before the 20% happened.[/quote]

I think in most areas there is still much falling to do, and higher interest rates would just accelerate it. I think the threat of higher interest rates is partially responsible for this spring’s “rally”.

I also disagree that you’d be in the same place if your payment was the same. The person who bought at a lower principle and higher interest rate would benefit both by lower property taxes and a higher deducation.

[Reality]

[quote=waiting for bottom][quote=JohnAlt91941]
The problem with that thinking is that prices are partially dependent on interest rates. Rates go up, prices go down.

If a hypothetical 20% additional drop in prices was just caused by higher interest rates, your argument would be valid. But many think prices still have a way to go down independent of interest rates, with higher rates just making it more so. And in that case your payment would NOT be the same.
[/quote]

You are mis-interpreting me. I agree those two are mostly independent. I’m just saying that we don’t know what rates will be when/if a 20% decline takes place. If they happen to be 7.5%, I’m in the same place as I was before the 20% happened.[/quote]

I think in most areas there is still much falling to do, and higher interest rates would just accelerate it. I think the threat of higher interest rates is partially responsible for this spring’s “rally”.

I also disagree that you’d be in the same place if your payment was the same. The person who bought at a lower principle and higher interest rate would benefit both by lower property taxes and a higher deducation.

[Reality]

[quote=waiting for bottom][quote=JohnAlt91941]
The problem with that thinking is that prices are partially dependent on interest rates. Rates go up, prices go down.

If a hypothetical 20% additional drop in prices was just caused by higher interest rates, your argument would be valid. But many think prices still have a way to go down independent of interest rates, with higher rates just making it more so. And in that case your payment would NOT be the same.
[/quote]

You are mis-interpreting me. I agree those two are mostly independent. I’m just saying that we don’t know what rates will be when/if a 20% decline takes place. If they happen to be 7.5%, I’m in the same place as I was before the 20% happened.[/quote]

I think in most areas there is still much falling to do, and higher interest rates would just accelerate it. I think the threat of higher interest rates is partially responsible for this spring’s “rally”.

I also disagree that you’d be in the same place if your payment was the same. The person who bought at a lower principle and higher interest rate would benefit both by lower property taxes and a higher deducation.

[Author]

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