way too many disgruntled people here

[Alex_angel]

I feel the sentiment a lot of you do about housing being way overpriced but after reading through posts for the last month I am just seeing a big group of disgruntled people hoping for the supposed bubble to burst. I see the odd post of a house in a ratty SD area going down 5% from last year and a lot of guys bring out the champagne to celebrate. Someone then shows 10 listings that all remained steady or sold higher and all the bashing happens. If people were to listen they’d be renting for the rest of their lives. Housing is not going to crash without something horrific happening. Either Qualcomm shutting down due to finanical fraud, Camp peddleton and miramar getting closed, a giant earthquake or war.

People wishing for a decline are just going to get more and more bitter.

People all say wait a year or two to buy. I have heard this since 2000 and its 2007 and I’m still renting an overpriced apartment. If you all were so in tune with the markets then wouldn’t you all be millionaires today with you abilities to predict market trends?

The bottom line is if you can afford the home, buy it, else move somewhere else or lower your expectations.

There is just way too much money in San Diego today, lots of Orange County wannabees are down here with large trust funds and endless cash.

Areas like clairmont, south San Diego and way out east may see a decline but those are areas that you wouldn’t have bought into 10 years ago , let alone today so showing stats of a decline in super east poway is not going to convince me the sky is falling.

Show me some SFR in Carmel valley that are falling.

Don’t show me a home that is worth over a million dollars going down 10 grand. That to me is not a big deal. When you can afford a million dollar home I presume $10,000 is not a big deal.

I read these articles about the bubble popping, sub prime etc… but then I look around at open homes, sales releases etc… and business is still booming.

Being disgruntled and basing opinions on facts and not just selective Michale Moore facts would convince me otherwise.

[JWM in SD]

You obviously don’t understand what’s really going on do you?

Some suggested reading for you my ignorant friend:
Calculated Risk
Mish Shedlock

I’ve said it numerous times already, this is not a local phenomenon.

[The-Shoveler]

Nor_LA-Temcu-SD-Guy

There are more homes in foreclosure than were sold last month. (high selling season) in SD .

enough said.

[The-Shoveler]

Nor_LA-Temcu-SD-Guy

It’s a river in Egypt .

[HereWeGo]

“Show me some SFR in Carmel valley that are falling.”

Sure, the primo areas will hold on for the longest, but remember the outlying areas that you so blithely dismiss provide price pressure against those primo areas. That will become more evident, once the Chula Vistas and the Fallbrooks complete the more aggressive phase of their oncoming depreciation.

[little lady]

I have a house, that I bought in the last downturn. I am selling it. It will close on the 15th now. It was sold at 15% less than peak price because houses are going down………..sorry

[Critter]

“If you all were so in tune with the markets then wouldn’t you all be millionaires today with you abilities to predict market trends?”

Some of us did buy early on and have sold in the last two years, so I guess we did time the market. For what it’s worth, selling a single house even in an extremely overheated market will not make you a millionaire.

[LookoutBelow]

Obviously this post-er is a simpleton who feels like he missed out on the housing boom….well, why dont you just eliminate all of feelings of "missing out" and get out of that sleazy apt your renting and step up for a 1.2 million dollar mortgage ?

Somebody asked the other day on this site "Where do these buyers come from today this late in the game "? …well, its clown's like THIS GUY are exactly who is buying at the top of this market….god bless em, I hope he finds his "dream home"…Cuz its certainly out there waiting for him….Where'd I put my rose colored glasses ?….hmmmm…

[Alex_angel]

This wait until next year sentiment is getting old. If everyone was so in tuned with market why didn’t everyone buy in a few years ago before the upturn? My take is that people like to only predict trends after the fact. Its easy to look back now and scoff and say ha you shouldn’t have purchased last year. Then those that are all saying wait a year, next year will all still be saying wait a year. Seeing undesirable areas go down in price doesn’t mean a bubble has popped. Seeing a bubble pop would be homes in areas like Rancho PQ that were $300k 4 years ago that are sitting at $800k go back down to $300k level. Even with inflation they would be at $400k but they are not. People are still buying these homes at the high prices.

[HereWeGo]

LoB-
I suspect he’s a realtor, attempting to refine his pitch.

[LookoutBelow]

"If you all were so in tune

Submitted by Critter on May 11, 2007 – 6:53am.

"If you all were so in tune with the markets then wouldn't you all be millionaires today with you abilities to predict market trends?"

Some of us did buy early on and have sold in the last two years, so I guess we did time the market. For what it's worth, selling a single house even in an extremely overheated market will not make you a millionaire.

 

Oh yes it will !!!!………..I did it 3 times in 5 years….. AND Im going to do it 3 more times when this collapse gets going in earnest and finds its next bottom …. its NOT rocket science…buy low/sell high, almost as old as the prostitution trade….its no secret

[(former)FormerSanDiegan]

Areas like clairmont, south San Diego and way out east may see a decline but those are areas that you wouldn’t have bought into 10 years ago …

Actually Clairemont was a great place to buy into 10 years ago.

If you all were so in tune with the markets then wouldn’t you all be millionaires today with you abilities to predict market trends?

If you bought a couple houses in Clairemont for 150-160K 10 years ago, guess what, you pretty darn close to a $ Mil today.

IGNORANCE OF THE PAST DEMONSTRATES A LACK THE COGNITIVE ABILITIES NECESSARY TO CONTEMPLATE POTENTIAL FUTURE OUTCOMES.

[(former)FormerSanDiegan]

Mr Angel – With all due respect, your post sounds a bit disgruntled and lacking in accurate facts.

Please bring some sort of logic and/or data to the table and people will engage.

Why not demonstrate your point with some examples and data. A good start would be to bring some examples of SD SFRs recently sold or on the market for which the cost to own is within 10% of the cost to rent.

[Critter]

LoB – You did it three times in five years, so you made three million in five years?

Where did you buy/sell your houses?

[Alex_angel]

the anger you all are throwing towards me further validates the disgruntlement among you. Calling people names for buying today is grade school behavior. Why hate people who can afford something? Is that fair. I don’t hate people who buy Feraris because I can’t afford them. I don’t hate people that eat filet mignon every night because I can’t afford it.

Where will most of you who want a home draw the line? You will wait and wait and wait and do nothing. You will see a home you want for $800k and say that if it goes down to $750k you will buy, then at $750k you will wait for it to go down to $700k and so on and eventually someone else will buy it and you will still be waiting.

As for the accusation that I’m a realtor. Not true at all. I hate those sleaze bags as much as you all do. At least the ones I have used were a bunch of scumbag liars.

I agree that the market is over priced. I don’t argue that. What I don’t agree with is that the bubble has popped and the world of real estate is collapsing. It may be doing that in other parts of the country but from what I see here in San Diego is quite different.

Those of you that ask for facts do me a favor. Get up from behind your computers surfing blogs that cater to your beliefs. Close the Dataquick web site and actually go out on a Saturday to a lot of the builders sites, go to open homes and you will see how supposedly slow this market is.

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