This news is good for those who haven’t bought, yet.

[Jazzman]

I think half of it is seasonal. If you look at past years there’s nearly always a tail off towards the end of the year. But these are quite large drops and if you remember these are three month averages, there’s some pain in there somewhere.

Looks like sentiments for depreciating home prices are as strong as ever, and coupled with the media attention this is getting, it will feed into deflation, as sideliners take stock and pull back again. Even a 0.25% decline a month on a $800k home is worth holding out for.

CA real estate is still over-priced, and buyers will vote with their check books. Counter arguments are counter productive, as they are perceived as a threadbare mantra of the pre-internet epoch. Best just go with the flow, and people with trust again.

[patientrenter]

[quote=irondoc]….I don’t expect anyone to cry for us, but just wanted to make the point that not everyone has “greed” reasons for wanting home values to rise.[/quote]

I am not criticizing you, irondoc. From the data you provided, you are amongst the most responsible 5% of the homebuyers.

But there is something wrong when the ‘stretching’, you did, as you put it, is more responsible than 95% of what others were doing.

I don’t think there’s a general recognition of this yet. We still have ridiculously low downpayment requirements, and people still believe that, if they wait long enough, they will make a lot of money from owning real estate. In the 2006 heyday, they had to wait a year or two. Now, they assume that they will make out if they wait a decade. Same game, just different horizons.

[patientrenter]

[quote=irondoc]….I don’t expect anyone to cry for us, but just wanted to make the point that not everyone has “greed” reasons for wanting home values to rise.[/quote]

I am not criticizing you, irondoc. From the data you provided, you are amongst the most responsible 5% of the homebuyers.

But there is something wrong when the ‘stretching’, you did, as you put it, is more responsible than 95% of what others were doing.

I don’t think there’s a general recognition of this yet. We still have ridiculously low downpayment requirements, and people still believe that, if they wait long enough, they will make a lot of money from owning real estate. In the 2006 heyday, they had to wait a year or two. Now, they assume that they will make out if they wait a decade. Same game, just different horizons.

[patientrenter]

[quote=irondoc]….I don’t expect anyone to cry for us, but just wanted to make the point that not everyone has “greed” reasons for wanting home values to rise.[/quote]

I am not criticizing you, irondoc. From the data you provided, you are amongst the most responsible 5% of the homebuyers.

But there is something wrong when the ‘stretching’, you did, as you put it, is more responsible than 95% of what others were doing.

I don’t think there’s a general recognition of this yet. We still have ridiculously low downpayment requirements, and people still believe that, if they wait long enough, they will make a lot of money from owning real estate. In the 2006 heyday, they had to wait a year or two. Now, they assume that they will make out if they wait a decade. Same game, just different horizons.

[patientrenter]

[quote=irondoc]….I don’t expect anyone to cry for us, but just wanted to make the point that not everyone has “greed” reasons for wanting home values to rise.[/quote]

I am not criticizing you, irondoc. From the data you provided, you are amongst the most responsible 5% of the homebuyers.

But there is something wrong when the ‘stretching’, you did, as you put it, is more responsible than 95% of what others were doing.

I don’t think there’s a general recognition of this yet. We still have ridiculously low downpayment requirements, and people still believe that, if they wait long enough, they will make a lot of money from owning real estate. In the 2006 heyday, they had to wait a year or two. Now, they assume that they will make out if they wait a decade. Same game, just different horizons.

[patientrenter]

[quote=irondoc]….I don’t expect anyone to cry for us, but just wanted to make the point that not everyone has “greed” reasons for wanting home values to rise.[/quote]

I am not criticizing you, irondoc. From the data you provided, you are amongst the most responsible 5% of the homebuyers.

But there is something wrong when the ‘stretching’, you did, as you put it, is more responsible than 95% of what others were doing.

I don’t think there’s a general recognition of this yet. We still have ridiculously low downpayment requirements, and people still believe that, if they wait long enough, they will make a lot of money from owning real estate. In the 2006 heyday, they had to wait a year or two. Now, they assume that they will make out if they wait a decade. Same game, just different horizons.

[briansd1]

What better way to make money, patientrenter?

Live in a luxurious house and wait for more luxury to fall on your lap. 😉

[briansd1]

What better way to make money, patientrenter?

Live in a luxurious house and wait for more luxury to fall on your lap. 😉

[briansd1]

What better way to make money, patientrenter?

Live in a luxurious house and wait for more luxury to fall on your lap. 😉

[briansd1]

What better way to make money, patientrenter?

Live in a luxurious house and wait for more luxury to fall on your lap. 😉

[briansd1]

What better way to make money, patientrenter?

Live in a luxurious house and wait for more luxury to fall on your lap. 😉

[NotCranky]

It seems like buying something that requires two incomes to “sustain” is always stretching.

[NotCranky]

It seems like buying something that requires two incomes to “sustain” is always stretching.

[NotCranky]

It seems like buying something that requires two incomes to “sustain” is always stretching.

[NotCranky]

It seems like buying something that requires two incomes to “sustain” is always stretching.

[Author]

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