- This topic has 165 replies, 17 voices, and was last updated 16 years, 6 months ago by
SD Realtor.
-
AuthorPosts
-
February 28, 2008 at 2:29 AM #161984February 28, 2008 at 6:27 AM #161594
Nor-LA-SD-guy
Participant” vertical movement ”
I would say there is a lot of vertical movement myself,
Most people I know are looking to move up on average of once every 5 years (promotions , better Jobs, the biz finally takes off etc…), but maybe it’s an L.A. thing.
In fact I would argue that there is quite a bit of pended up vertical movement because of the crazy home prices the last few years.
February 28, 2008 at 6:27 AM #161885Nor-LA-SD-guy
Participant” vertical movement ”
I would say there is a lot of vertical movement myself,
Most people I know are looking to move up on average of once every 5 years (promotions , better Jobs, the biz finally takes off etc…), but maybe it’s an L.A. thing.
In fact I would argue that there is quite a bit of pended up vertical movement because of the crazy home prices the last few years.
February 28, 2008 at 6:27 AM #161903Nor-LA-SD-guy
Participant” vertical movement ”
I would say there is a lot of vertical movement myself,
Most people I know are looking to move up on average of once every 5 years (promotions , better Jobs, the biz finally takes off etc…), but maybe it’s an L.A. thing.
In fact I would argue that there is quite a bit of pended up vertical movement because of the crazy home prices the last few years.
February 28, 2008 at 6:27 AM #161920Nor-LA-SD-guy
Participant” vertical movement ”
I would say there is a lot of vertical movement myself,
Most people I know are looking to move up on average of once every 5 years (promotions , better Jobs, the biz finally takes off etc…), but maybe it’s an L.A. thing.
In fact I would argue that there is quite a bit of pended up vertical movement because of the crazy home prices the last few years.
February 28, 2008 at 6:27 AM #161989Nor-LA-SD-guy
Participant” vertical movement ”
I would say there is a lot of vertical movement myself,
Most people I know are looking to move up on average of once every 5 years (promotions , better Jobs, the biz finally takes off etc…), but maybe it’s an L.A. thing.
In fact I would argue that there is quite a bit of pended up vertical movement because of the crazy home prices the last few years.
February 28, 2008 at 8:13 AM #161634sdrealtor
ParticipantWhile I dont completely agree with esmith there is alot of truth in what he says. Prior to the funny money credit era, a move-up was typically no more than $150,000 and usually closer to $100,000. The Int only, NINJA loans allowed people to take a couple steps up and we are seeing that unwind nowadays.
Moving up $100,000 generally represents an increase in your monthly housing costs of about $1,000. That in turn requires another $30,000 to $40,000 in annual income to be an easy move. The monster jumps in homes by the majority of move-up buyers are a thing of the past IMO.
I expect this to lead to more of the moving around in a community and less Oceanside/Vista to Encinitas/Carmel Valley jumps. Most people who need a little more room will have to be content finding it around the corner. If they desire to move to a more desireable area they will have to be happy with much less house in most cases.
February 28, 2008 at 8:13 AM #161926sdrealtor
ParticipantWhile I dont completely agree with esmith there is alot of truth in what he says. Prior to the funny money credit era, a move-up was typically no more than $150,000 and usually closer to $100,000. The Int only, NINJA loans allowed people to take a couple steps up and we are seeing that unwind nowadays.
Moving up $100,000 generally represents an increase in your monthly housing costs of about $1,000. That in turn requires another $30,000 to $40,000 in annual income to be an easy move. The monster jumps in homes by the majority of move-up buyers are a thing of the past IMO.
I expect this to lead to more of the moving around in a community and less Oceanside/Vista to Encinitas/Carmel Valley jumps. Most people who need a little more room will have to be content finding it around the corner. If they desire to move to a more desireable area they will have to be happy with much less house in most cases.
February 28, 2008 at 8:13 AM #161943sdrealtor
ParticipantWhile I dont completely agree with esmith there is alot of truth in what he says. Prior to the funny money credit era, a move-up was typically no more than $150,000 and usually closer to $100,000. The Int only, NINJA loans allowed people to take a couple steps up and we are seeing that unwind nowadays.
Moving up $100,000 generally represents an increase in your monthly housing costs of about $1,000. That in turn requires another $30,000 to $40,000 in annual income to be an easy move. The monster jumps in homes by the majority of move-up buyers are a thing of the past IMO.
I expect this to lead to more of the moving around in a community and less Oceanside/Vista to Encinitas/Carmel Valley jumps. Most people who need a little more room will have to be content finding it around the corner. If they desire to move to a more desireable area they will have to be happy with much less house in most cases.
February 28, 2008 at 8:13 AM #161960sdrealtor
ParticipantWhile I dont completely agree with esmith there is alot of truth in what he says. Prior to the funny money credit era, a move-up was typically no more than $150,000 and usually closer to $100,000. The Int only, NINJA loans allowed people to take a couple steps up and we are seeing that unwind nowadays.
Moving up $100,000 generally represents an increase in your monthly housing costs of about $1,000. That in turn requires another $30,000 to $40,000 in annual income to be an easy move. The monster jumps in homes by the majority of move-up buyers are a thing of the past IMO.
I expect this to lead to more of the moving around in a community and less Oceanside/Vista to Encinitas/Carmel Valley jumps. Most people who need a little more room will have to be content finding it around the corner. If they desire to move to a more desireable area they will have to be happy with much less house in most cases.
February 28, 2008 at 8:13 AM #162029sdrealtor
ParticipantWhile I dont completely agree with esmith there is alot of truth in what he says. Prior to the funny money credit era, a move-up was typically no more than $150,000 and usually closer to $100,000. The Int only, NINJA loans allowed people to take a couple steps up and we are seeing that unwind nowadays.
Moving up $100,000 generally represents an increase in your monthly housing costs of about $1,000. That in turn requires another $30,000 to $40,000 in annual income to be an easy move. The monster jumps in homes by the majority of move-up buyers are a thing of the past IMO.
I expect this to lead to more of the moving around in a community and less Oceanside/Vista to Encinitas/Carmel Valley jumps. Most people who need a little more room will have to be content finding it around the corner. If they desire to move to a more desireable area they will have to be happy with much less house in most cases.
February 28, 2008 at 8:22 AM #161643LAAFTERHOURS
Participant4s Renter
“Oddly enough I don’t know anyone on my block who works in construction or retail, most work for the Government or health care and several are retired-(their not going anywhere).”
Just a thought on the above statement. Healthcare and Insurance are probably very stable markets. When you say govt, if its state, fed or local employees, then sure – no problem but I would be very afraid of being a govt contractor right now. With the coming election, I would imagine a reduction in new contract spending. I would vacate any DoD sector consulting gigs and hunker down in a stable industry to brace for the coming impact.
February 28, 2008 at 8:22 AM #161936LAAFTERHOURS
Participant4s Renter
“Oddly enough I don’t know anyone on my block who works in construction or retail, most work for the Government or health care and several are retired-(their not going anywhere).”
Just a thought on the above statement. Healthcare and Insurance are probably very stable markets. When you say govt, if its state, fed or local employees, then sure – no problem but I would be very afraid of being a govt contractor right now. With the coming election, I would imagine a reduction in new contract spending. I would vacate any DoD sector consulting gigs and hunker down in a stable industry to brace for the coming impact.
February 28, 2008 at 8:22 AM #161953LAAFTERHOURS
Participant4s Renter
“Oddly enough I don’t know anyone on my block who works in construction or retail, most work for the Government or health care and several are retired-(their not going anywhere).”
Just a thought on the above statement. Healthcare and Insurance are probably very stable markets. When you say govt, if its state, fed or local employees, then sure – no problem but I would be very afraid of being a govt contractor right now. With the coming election, I would imagine a reduction in new contract spending. I would vacate any DoD sector consulting gigs and hunker down in a stable industry to brace for the coming impact.
February 28, 2008 at 8:22 AM #161970LAAFTERHOURS
Participant4s Renter
“Oddly enough I don’t know anyone on my block who works in construction or retail, most work for the Government or health care and several are retired-(their not going anywhere).”
Just a thought on the above statement. Healthcare and Insurance are probably very stable markets. When you say govt, if its state, fed or local employees, then sure – no problem but I would be very afraid of being a govt contractor right now. With the coming election, I would imagine a reduction in new contract spending. I would vacate any DoD sector consulting gigs and hunker down in a stable industry to brace for the coming impact.
-
AuthorPosts
- You must be logged in to reply to this topic.