Timing the Bottom

[sdduuuude]

I was at “Fear” when the rest of the city was at “Thrill” which is why I was able to sell at Euphoria.

[sdduuuude]

I was at “Fear” when the rest of the city was at “Thrill” which is why I was able to sell at Euphoria.

[sdduuuude]

“we’re closer to a bottom in prices than we are to the top”

Well, the top was about 26 months ago, which puts the bottom as late as Jan 2010 in your own view.

[sdduuuude]

“we’re closer to a bottom in prices than we are to the top”

Well, the top was about 26 months ago, which puts the bottom as late as Jan 2010 in your own view.

[sdduuuude]

“we’re closer to a bottom in prices than we are to the top”

Well, the top was about 26 months ago, which puts the bottom as late as Jan 2010 in your own view.

[sdduuuude]

“we’re closer to a bottom in prices than we are to the top”

Well, the top was about 26 months ago, which puts the bottom as late as Jan 2010 in your own view.

[sdduuuude]

“we’re closer to a bottom in prices than we are to the top”

Well, the top was about 26 months ago, which puts the bottom as late as Jan 2010 in your own view.

[kev374]

in my view, about 25% of the current price of homes in SoCal is what I like to call “pure fluff”. That is appreciation purely based on speculation and mad lending. This fluff will be drained off VERY quickly, prices will drop over the next 6-9 months like a drop from a cliff, because the factors responsible for them have been turned off in one shot…like turning off a faucet, like cutting off the air supply etc. etc.

To those who say prices can’t drop that much in a year, it’s incorrect. For example during the early 90s Austin dropped 20.1% in a single year 😉

[kev374]

in my view, about 25% of the current price of homes in SoCal is what I like to call “pure fluff”. That is appreciation purely based on speculation and mad lending. This fluff will be drained off VERY quickly, prices will drop over the next 6-9 months like a drop from a cliff, because the factors responsible for them have been turned off in one shot…like turning off a faucet, like cutting off the air supply etc. etc.

To those who say prices can’t drop that much in a year, it’s incorrect. For example during the early 90s Austin dropped 20.1% in a single year 😉

[kev374]

in my view, about 25% of the current price of homes in SoCal is what I like to call “pure fluff”. That is appreciation purely based on speculation and mad lending. This fluff will be drained off VERY quickly, prices will drop over the next 6-9 months like a drop from a cliff, because the factors responsible for them have been turned off in one shot…like turning off a faucet, like cutting off the air supply etc. etc.

To those who say prices can’t drop that much in a year, it’s incorrect. For example during the early 90s Austin dropped 20.1% in a single year 😉

[kev374]

in my view, about 25% of the current price of homes in SoCal is what I like to call “pure fluff”. That is appreciation purely based on speculation and mad lending. This fluff will be drained off VERY quickly, prices will drop over the next 6-9 months like a drop from a cliff, because the factors responsible for them have been turned off in one shot…like turning off a faucet, like cutting off the air supply etc. etc.

To those who say prices can’t drop that much in a year, it’s incorrect. For example during the early 90s Austin dropped 20.1% in a single year 😉

[kev374]

in my view, about 25% of the current price of homes in SoCal is what I like to call “pure fluff”. That is appreciation purely based on speculation and mad lending. This fluff will be drained off VERY quickly, prices will drop over the next 6-9 months like a drop from a cliff, because the factors responsible for them have been turned off in one shot…like turning off a faucet, like cutting off the air supply etc. etc.

To those who say prices can’t drop that much in a year, it’s incorrect. For example during the early 90s Austin dropped 20.1% in a single year 😉

[mixxalot]

Wait 3 years

At least thats my strategy to save up big down payment and buy a nice 2-3 bedroom condo or townhome. I dont want the headache of a McMansion to deal with cleaning. I use the simple formula that when it is cheaper or same to buy and own as to rent then that is the right time in socal and sandy eggo.

For now I have zero debt and plenty of savings. Job stability is the magic quadrant for me right now.

At worst case, if I save half a million, I can always retire on the beaches of Ipanema with a mojito and pretty Brazilian babe.

[mixxalot]

Wait 3 years

At least thats my strategy to save up big down payment and buy a nice 2-3 bedroom condo or townhome. I dont want the headache of a McMansion to deal with cleaning. I use the simple formula that when it is cheaper or same to buy and own as to rent then that is the right time in socal and sandy eggo.

For now I have zero debt and plenty of savings. Job stability is the magic quadrant for me right now.

At worst case, if I save half a million, I can always retire on the beaches of Ipanema with a mojito and pretty Brazilian babe.

[mixxalot]

Wait 3 years

At least thats my strategy to save up big down payment and buy a nice 2-3 bedroom condo or townhome. I dont want the headache of a McMansion to deal with cleaning. I use the simple formula that when it is cheaper or same to buy and own as to rent then that is the right time in socal and sandy eggo.

For now I have zero debt and plenty of savings. Job stability is the magic quadrant for me right now.

At worst case, if I save half a million, I can always retire on the beaches of Ipanema with a mojito and pretty Brazilian babe.

[Author]

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