- This topic has 485 replies, 32 voices, and was last updated 16 years, 8 months ago by JWM in SD.
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February 27, 2008 at 1:05 PM #161314February 27, 2008 at 1:18 PM #160947JWM in SDParticipant
Felix, who do you think you are dealing with here? The RE market is not the stock market. It not like trying to catch a falling biotech stock. It just doesn’t move that fast. There has been massive overbuilding of tract homes and credit is contracting severly…who will there be to compete with that has cash, income and good credit two years from now…optimistically?
Buy now or be priced out forever right?
February 27, 2008 at 1:18 PM #161243JWM in SDParticipantFelix, who do you think you are dealing with here? The RE market is not the stock market. It not like trying to catch a falling biotech stock. It just doesn’t move that fast. There has been massive overbuilding of tract homes and credit is contracting severly…who will there be to compete with that has cash, income and good credit two years from now…optimistically?
Buy now or be priced out forever right?
February 27, 2008 at 1:18 PM #161257JWM in SDParticipantFelix, who do you think you are dealing with here? The RE market is not the stock market. It not like trying to catch a falling biotech stock. It just doesn’t move that fast. There has been massive overbuilding of tract homes and credit is contracting severly…who will there be to compete with that has cash, income and good credit two years from now…optimistically?
Buy now or be priced out forever right?
February 27, 2008 at 1:18 PM #161275JWM in SDParticipantFelix, who do you think you are dealing with here? The RE market is not the stock market. It not like trying to catch a falling biotech stock. It just doesn’t move that fast. There has been massive overbuilding of tract homes and credit is contracting severly…who will there be to compete with that has cash, income and good credit two years from now…optimistically?
Buy now or be priced out forever right?
February 27, 2008 at 1:18 PM #161344JWM in SDParticipantFelix, who do you think you are dealing with here? The RE market is not the stock market. It not like trying to catch a falling biotech stock. It just doesn’t move that fast. There has been massive overbuilding of tract homes and credit is contracting severly…who will there be to compete with that has cash, income and good credit two years from now…optimistically?
Buy now or be priced out forever right?
February 27, 2008 at 1:18 PM #160952felixParticipantRay,
I should have been more clear. I don’t think average Joe’s can or should be doing what I have done. I think that may be part of what created this mess. That is a valid point.
My post was meant as a response to the renting versus buying argument. I was pointing out that people with capital can now purchase Socal property at relatively good prices which generate get a nice rental income while still being an asset that historically appreciates well.
I was also pointing out that at or near the bottom there won’t be enough properties to go around. That is what makes bottoms.
February 27, 2008 at 1:18 PM #161248felixParticipantRay,
I should have been more clear. I don’t think average Joe’s can or should be doing what I have done. I think that may be part of what created this mess. That is a valid point.
My post was meant as a response to the renting versus buying argument. I was pointing out that people with capital can now purchase Socal property at relatively good prices which generate get a nice rental income while still being an asset that historically appreciates well.
I was also pointing out that at or near the bottom there won’t be enough properties to go around. That is what makes bottoms.
February 27, 2008 at 1:18 PM #161262felixParticipantRay,
I should have been more clear. I don’t think average Joe’s can or should be doing what I have done. I think that may be part of what created this mess. That is a valid point.
My post was meant as a response to the renting versus buying argument. I was pointing out that people with capital can now purchase Socal property at relatively good prices which generate get a nice rental income while still being an asset that historically appreciates well.
I was also pointing out that at or near the bottom there won’t be enough properties to go around. That is what makes bottoms.
February 27, 2008 at 1:18 PM #161280felixParticipantRay,
I should have been more clear. I don’t think average Joe’s can or should be doing what I have done. I think that may be part of what created this mess. That is a valid point.
My post was meant as a response to the renting versus buying argument. I was pointing out that people with capital can now purchase Socal property at relatively good prices which generate get a nice rental income while still being an asset that historically appreciates well.
I was also pointing out that at or near the bottom there won’t be enough properties to go around. That is what makes bottoms.
February 27, 2008 at 1:18 PM #161349felixParticipantRay,
I should have been more clear. I don’t think average Joe’s can or should be doing what I have done. I think that may be part of what created this mess. That is a valid point.
My post was meant as a response to the renting versus buying argument. I was pointing out that people with capital can now purchase Socal property at relatively good prices which generate get a nice rental income while still being an asset that historically appreciates well.
I was also pointing out that at or near the bottom there won’t be enough properties to go around. That is what makes bottoms.
February 27, 2008 at 1:32 PM #160977felixParticipantJwm, you’re right.
There has been over building of tract homes and a contracting of credit. If those are the type of homes you are interested in then until inventory declines prices will be weak. That doesn’t mean you can wait forever to buy if you are interested. At some time, not too far off, those who can buy will.
And RE is different than the stock market with regard to timing. It doesn’t move as fast. However, the psychology behind buying and selling RE and the stock market are quite similar. It seems many here want to buy but are waiting for the bottom tick. They may miss out.
February 27, 2008 at 1:32 PM #161273felixParticipantJwm, you’re right.
There has been over building of tract homes and a contracting of credit. If those are the type of homes you are interested in then until inventory declines prices will be weak. That doesn’t mean you can wait forever to buy if you are interested. At some time, not too far off, those who can buy will.
And RE is different than the stock market with regard to timing. It doesn’t move as fast. However, the psychology behind buying and selling RE and the stock market are quite similar. It seems many here want to buy but are waiting for the bottom tick. They may miss out.
February 27, 2008 at 1:32 PM #161286felixParticipantJwm, you’re right.
There has been over building of tract homes and a contracting of credit. If those are the type of homes you are interested in then until inventory declines prices will be weak. That doesn’t mean you can wait forever to buy if you are interested. At some time, not too far off, those who can buy will.
And RE is different than the stock market with regard to timing. It doesn’t move as fast. However, the psychology behind buying and selling RE and the stock market are quite similar. It seems many here want to buy but are waiting for the bottom tick. They may miss out.
February 27, 2008 at 1:32 PM #161305felixParticipantJwm, you’re right.
There has been over building of tract homes and a contracting of credit. If those are the type of homes you are interested in then until inventory declines prices will be weak. That doesn’t mean you can wait forever to buy if you are interested. At some time, not too far off, those who can buy will.
And RE is different than the stock market with regard to timing. It doesn’t move as fast. However, the psychology behind buying and selling RE and the stock market are quite similar. It seems many here want to buy but are waiting for the bottom tick. They may miss out.
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