We are richer when house prices go down

[JWM in SD]

JWM in SD

I’m sorry Felix but my patience with you is growing thin at this point. You are either a shill or a complete MORON.

The timing of the bottom has been discussed here many times by those who are a lot more knowledgeable than you are I’m afraid (bugs for one). Timing the bottom is most certainly possible…not perfectly but it is real estate so it doesn’t have to be timed perfectly.

The inventory moves much too slowly to not be able time it correctly.

The bigger challenge will be the ability to be remain solvent of the next several years in order take advantage of the bottom

Sorry, you are just flat out WRONG…..

[drunkle]

“2) Why do people have have such visceral negative reactions to dropping house values? I would guess that only the people who overpaid do. To me, overpaying in San Diego would be anything above 2000 prices.”

married to their belief?

they bought into the “real estate always goes up” nonsense and dont want to admit they were wrong, made a mistake or got duped.

investors who are smart know when to cut and run, know when to cut their losses. they’re objective and profit driven, not ideologically bound and gagged.

if things continue on the current trajectory and prices dump below 80’s levels, man, the bitching and moaning you’ll be hearing…

edit: the belly aching you’ll be hearing…

[drunkle]

“2) Why do people have have such visceral negative reactions to dropping house values? I would guess that only the people who overpaid do. To me, overpaying in San Diego would be anything above 2000 prices.”

married to their belief?

they bought into the “real estate always goes up” nonsense and dont want to admit they were wrong, made a mistake or got duped.

investors who are smart know when to cut and run, know when to cut their losses. they’re objective and profit driven, not ideologically bound and gagged.

if things continue on the current trajectory and prices dump below 80’s levels, man, the bitching and moaning you’ll be hearing…

edit: the belly aching you’ll be hearing…

[drunkle]

“2) Why do people have have such visceral negative reactions to dropping house values? I would guess that only the people who overpaid do. To me, overpaying in San Diego would be anything above 2000 prices.”

married to their belief?

they bought into the “real estate always goes up” nonsense and dont want to admit they were wrong, made a mistake or got duped.

investors who are smart know when to cut and run, know when to cut their losses. they’re objective and profit driven, not ideologically bound and gagged.

if things continue on the current trajectory and prices dump below 80’s levels, man, the bitching and moaning you’ll be hearing…

edit: the belly aching you’ll be hearing…

[drunkle]

“2) Why do people have have such visceral negative reactions to dropping house values? I would guess that only the people who overpaid do. To me, overpaying in San Diego would be anything above 2000 prices.”

married to their belief?

they bought into the “real estate always goes up” nonsense and dont want to admit they were wrong, made a mistake or got duped.

investors who are smart know when to cut and run, know when to cut their losses. they’re objective and profit driven, not ideologically bound and gagged.

if things continue on the current trajectory and prices dump below 80’s levels, man, the bitching and moaning you’ll be hearing…

edit: the belly aching you’ll be hearing…

[drunkle]

“2) Why do people have have such visceral negative reactions to dropping house values? I would guess that only the people who overpaid do. To me, overpaying in San Diego would be anything above 2000 prices.”

married to their belief?

they bought into the “real estate always goes up” nonsense and dont want to admit they were wrong, made a mistake or got duped.

investors who are smart know when to cut and run, know when to cut their losses. they’re objective and profit driven, not ideologically bound and gagged.

if things continue on the current trajectory and prices dump below 80’s levels, man, the bitching and moaning you’ll be hearing…

edit: the belly aching you’ll be hearing…

[Coronita]

It's also how you look at it. If I buy a house that is 800k I will have little left over every month after paying the mortgage. So I will feel poor. It does not matter if that house goes up in value. I still have the same amount left after making the payment. I could not go out to eat very often or take nice vacations or buy big flat screens or even play nice golf courses. Now if that house drops to 600k and I buy it, I will have a much better quality of life. I will be able to spend that extra money on my leisure activities. I will feel richer! I'm hoping it drops to $400k, then I can play a few rounds at Pebble Beach 🙂

 

I definitely "felt" richer when I was fresh out of school on my first job , renting  a condo $660/month in LJ making $45k/year back in 96 than I do now, with  a $5000/month house obligation (mortgage+tax+insurance+melloruse+utilities) and $1500/month childcare though my salary are a couple of factors above what I was making. I don't feel "rich" at all. Oh well. Time tap my heloc

 

 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Coronita]

It's also how you look at it. If I buy a house that is 800k I will have little left over every month after paying the mortgage. So I will feel poor. It does not matter if that house goes up in value. I still have the same amount left after making the payment. I could not go out to eat very often or take nice vacations or buy big flat screens or even play nice golf courses. Now if that house drops to 600k and I buy it, I will have a much better quality of life. I will be able to spend that extra money on my leisure activities. I will feel richer! I'm hoping it drops to $400k, then I can play a few rounds at Pebble Beach 🙂

 

I definitely "felt" richer when I was fresh out of school on my first job , renting  a condo $660/month in LJ making $45k/year back in 96 than I do now, with  a $5000/month house obligation (mortgage+tax+insurance+melloruse+utilities) and $1500/month childcare though my salary are a couple of factors above what I was making. I don't feel "rich" at all. Oh well. Time tap my heloc

 

 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Coronita]

It's also how you look at it. If I buy a house that is 800k I will have little left over every month after paying the mortgage. So I will feel poor. It does not matter if that house goes up in value. I still have the same amount left after making the payment. I could not go out to eat very often or take nice vacations or buy big flat screens or even play nice golf courses. Now if that house drops to 600k and I buy it, I will have a much better quality of life. I will be able to spend that extra money on my leisure activities. I will feel richer! I'm hoping it drops to $400k, then I can play a few rounds at Pebble Beach 🙂

 

I definitely "felt" richer when I was fresh out of school on my first job , renting  a condo $660/month in LJ making $45k/year back in 96 than I do now, with  a $5000/month house obligation (mortgage+tax+insurance+melloruse+utilities) and $1500/month childcare though my salary are a couple of factors above what I was making. I don't feel "rich" at all. Oh well. Time tap my heloc

 

 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Coronita]

It's also how you look at it. If I buy a house that is 800k I will have little left over every month after paying the mortgage. So I will feel poor. It does not matter if that house goes up in value. I still have the same amount left after making the payment. I could not go out to eat very often or take nice vacations or buy big flat screens or even play nice golf courses. Now if that house drops to 600k and I buy it, I will have a much better quality of life. I will be able to spend that extra money on my leisure activities. I will feel richer! I'm hoping it drops to $400k, then I can play a few rounds at Pebble Beach 🙂

 

I definitely "felt" richer when I was fresh out of school on my first job , renting  a condo $660/month in LJ making $45k/year back in 96 than I do now, with  a $5000/month house obligation (mortgage+tax+insurance+melloruse+utilities) and $1500/month childcare though my salary are a couple of factors above what I was making. I don't feel "rich" at all. Oh well. Time tap my heloc

 

 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Coronita]

It's also how you look at it. If I buy a house that is 800k I will have little left over every month after paying the mortgage. So I will feel poor. It does not matter if that house goes up in value. I still have the same amount left after making the payment. I could not go out to eat very often or take nice vacations or buy big flat screens or even play nice golf courses. Now if that house drops to 600k and I buy it, I will have a much better quality of life. I will be able to spend that extra money on my leisure activities. I will feel richer! I'm hoping it drops to $400k, then I can play a few rounds at Pebble Beach 🙂

 

I definitely "felt" richer when I was fresh out of school on my first job , renting  a condo $660/month in LJ making $45k/year back in 96 than I do now, with  a $5000/month house obligation (mortgage+tax+insurance+melloruse+utilities) and $1500/month childcare though my salary are a couple of factors above what I was making. I don't feel "rich" at all. Oh well. Time tap my heloc

 

 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[sdduuuude]

“The bigger challenge will be the ability to be remain solvent of the next several years in order take advantage of the bottom.”

So many people don’t realize this. All that cash can disappear quickly when faced with no job.

[sdduuuude]

“The bigger challenge will be the ability to be remain solvent of the next several years in order take advantage of the bottom.”

So many people don’t realize this. All that cash can disappear quickly when faced with no job.

[sdduuuude]

“The bigger challenge will be the ability to be remain solvent of the next several years in order take advantage of the bottom.”

So many people don’t realize this. All that cash can disappear quickly when faced with no job.

[sdduuuude]

“The bigger challenge will be the ability to be remain solvent of the next several years in order take advantage of the bottom.”

So many people don’t realize this. All that cash can disappear quickly when faced with no job.

[Author]

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