The perfect storm?

[DomoArigato]

I like what I’m seeing. The stock market is falling hard, the government is hell-bent on deflationary austerity, and the GSE borrowing limits in San Diego are slated to go down $100,000+ this Fall. Not to mention that there is talk of eliminating the mortgage deduction, reducing government assistance to housing in general, and making higher down payments mandatory.

We may be witnessing the beginnings of a perfect storm that takes housing down another 20-30%. I’d love to see housing in San Diego come down to reasonable levels. Not only would buying finally make sense, but we would also eliminate all the bad debt overhang which is holding the economy back.

We’ll experience a little short-term pain in exchange for some long-term gains. Let’s hope it happens.

[an]

You make a very good point. Do you think TPTB actually will let it happen?

[an]

You make a very good point. Do you think TPTB actually will let it happen?

[an]

You make a very good point. Do you think TPTB actually will let it happen?

[an]

You make a very good point. Do you think TPTB actually will let it happen?

[an]

You make a very good point. Do you think TPTB actually will let it happen?

[blahblahblah]

Hell bent on deflationary austerity? You think they’re going to let their Wall Street masters suffer any losses? Nope they are going to print print print to keep those stock prices up. In a few years we’re going to be driving $50K Hyundais and drinking $5 cans of Bud. Prices are falling now, the big boys put in their short positions a while back and are cleaning up now. In a few months they will drive everything back up and make big gains. Right now they are racking up their Xmas bonuses.

That said I do think SD home prices are going to fall further, but in the prime areas they will fall slowly as in those areas the buyers are closer to the sources of power. Lots of government types, government contractors, attorneys for these sorts of people, etc… They get first dibs on the table scraps.

[blahblahblah]

Hell bent on deflationary austerity? You think they’re going to let their Wall Street masters suffer any losses? Nope they are going to print print print to keep those stock prices up. In a few years we’re going to be driving $50K Hyundais and drinking $5 cans of Bud. Prices are falling now, the big boys put in their short positions a while back and are cleaning up now. In a few months they will drive everything back up and make big gains. Right now they are racking up their Xmas bonuses.

That said I do think SD home prices are going to fall further, but in the prime areas they will fall slowly as in those areas the buyers are closer to the sources of power. Lots of government types, government contractors, attorneys for these sorts of people, etc… They get first dibs on the table scraps.

[blahblahblah]

Hell bent on deflationary austerity? You think they’re going to let their Wall Street masters suffer any losses? Nope they are going to print print print to keep those stock prices up. In a few years we’re going to be driving $50K Hyundais and drinking $5 cans of Bud. Prices are falling now, the big boys put in their short positions a while back and are cleaning up now. In a few months they will drive everything back up and make big gains. Right now they are racking up their Xmas bonuses.

That said I do think SD home prices are going to fall further, but in the prime areas they will fall slowly as in those areas the buyers are closer to the sources of power. Lots of government types, government contractors, attorneys for these sorts of people, etc… They get first dibs on the table scraps.

[blahblahblah]

Hell bent on deflationary austerity? You think they’re going to let their Wall Street masters suffer any losses? Nope they are going to print print print to keep those stock prices up. In a few years we’re going to be driving $50K Hyundais and drinking $5 cans of Bud. Prices are falling now, the big boys put in their short positions a while back and are cleaning up now. In a few months they will drive everything back up and make big gains. Right now they are racking up their Xmas bonuses.

That said I do think SD home prices are going to fall further, but in the prime areas they will fall slowly as in those areas the buyers are closer to the sources of power. Lots of government types, government contractors, attorneys for these sorts of people, etc… They get first dibs on the table scraps.

[blahblahblah]

Hell bent on deflationary austerity? You think they’re going to let their Wall Street masters suffer any losses? Nope they are going to print print print to keep those stock prices up. In a few years we’re going to be driving $50K Hyundais and drinking $5 cans of Bud. Prices are falling now, the big boys put in their short positions a while back and are cleaning up now. In a few months they will drive everything back up and make big gains. Right now they are racking up their Xmas bonuses.

That said I do think SD home prices are going to fall further, but in the prime areas they will fall slowly as in those areas the buyers are closer to the sources of power. Lots of government types, government contractors, attorneys for these sorts of people, etc… They get first dibs on the table scraps.

[an]

CONCHO, we already have people driving $50k Hyundai today 🙂

[an]

CONCHO, we already have people driving $50k Hyundai today 🙂

[an]

CONCHO, we already have people driving $50k Hyundai today 🙂

[an]

CONCHO, we already have people driving $50k Hyundai today 🙂

[Author]

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