What are your thoughts? Housing going UP or DOWN?

[sdrealtor]

A few responses. Its not coming from the boomer but rather the boomers parents. Its a trend that will continue for 20 years or more. Around here those arent big numbers. An old house in CM owned free and clear in a nice location is already 400 to 500K. I know my mother who is turning 80 next week has never owned a stock in her life. Its all CD’s and Bonds for her and always has been. These assets are very liquid and while the returns havent been good lately the principal is intact.

One example was a big house but they got rid of a 700K mortgage which has got to be at least $4K per month. That will pay for alot more than monthly maintennace on a big property. The other was a late boomer who bought conservatively (under $800K) what he could have afforded without the inheritance. The inheritance gave him the ability to pay cash and to retire in a few years.

Lastly $1M is not alot these days for elderly parents to have accumulated particularly if they owned a home in SoCal. Many are much bigger than $1M. The biggest issue is how many siblings there are. Both of these were only children. The pot gets smaller when its split 3 or 4 ways.

[Nor-LA-SD-guy]

I got to go with UCGal on this one,

Although it does happen I don’t think it will have a big effect on the market. (Most are lucky if their parents did not eat it all up in medical expenses).

And you may be surprised , I base my guess on someone I know who is in these markets daily. (not myself really).

[Nor-LA-SD-guy]

I got to go with UCGal on this one,

Although it does happen I don’t think it will have a big effect on the market. (Most are lucky if their parents did not eat it all up in medical expenses).

And you may be surprised , I base my guess on someone I know who is in these markets daily. (not myself really).

[Nor-LA-SD-guy]

I got to go with UCGal on this one,

Although it does happen I don’t think it will have a big effect on the market. (Most are lucky if their parents did not eat it all up in medical expenses).

And you may be surprised , I base my guess on someone I know who is in these markets daily. (not myself really).

[Nor-LA-SD-guy]

I got to go with UCGal on this one,

Although it does happen I don’t think it will have a big effect on the market. (Most are lucky if their parents did not eat it all up in medical expenses).

And you may be surprised , I base my guess on someone I know who is in these markets daily. (not myself really).

[Nor-LA-SD-guy]

I got to go with UCGal on this one,

Although it does happen I don’t think it will have a big effect on the market. (Most are lucky if their parents did not eat it all up in medical expenses).

And you may be surprised , I base my guess on someone I know who is in these markets daily. (not myself really).

[sdrealtor]

Hey I said I didnt think it will single handedly save the markets myself in my post. But its defintely another factor in the high end market that will have a very real impact. Admittedly, these numbers are more applicable where I live because I associate with folks that come from these kinds of families but people in lower income areas will tend to inherit less but will spend less as their expectations arent anything close to homes in Laguna or RSF. Even when all the cash gets eaten up by medical bills, an original owner with a small house in Clairemont that has never been upgraded has something worth about $400K for their heirs.

[sdrealtor]

Hey I said I didnt think it will single handedly save the markets myself in my post. But its defintely another factor in the high end market that will have a very real impact. Admittedly, these numbers are more applicable where I live because I associate with folks that come from these kinds of families but people in lower income areas will tend to inherit less but will spend less as their expectations arent anything close to homes in Laguna or RSF. Even when all the cash gets eaten up by medical bills, an original owner with a small house in Clairemont that has never been upgraded has something worth about $400K for their heirs.

[sdrealtor]

Hey I said I didnt think it will single handedly save the markets myself in my post. But its defintely another factor in the high end market that will have a very real impact. Admittedly, these numbers are more applicable where I live because I associate with folks that come from these kinds of families but people in lower income areas will tend to inherit less but will spend less as their expectations arent anything close to homes in Laguna or RSF. Even when all the cash gets eaten up by medical bills, an original owner with a small house in Clairemont that has never been upgraded has something worth about $400K for their heirs.

[sdrealtor]

Hey I said I didnt think it will single handedly save the markets myself in my post. But its defintely another factor in the high end market that will have a very real impact. Admittedly, these numbers are more applicable where I live because I associate with folks that come from these kinds of families but people in lower income areas will tend to inherit less but will spend less as their expectations arent anything close to homes in Laguna or RSF. Even when all the cash gets eaten up by medical bills, an original owner with a small house in Clairemont that has never been upgraded has something worth about $400K for their heirs.

[sdrealtor]

Hey I said I didnt think it will single handedly save the markets myself in my post. But its defintely another factor in the high end market that will have a very real impact. Admittedly, these numbers are more applicable where I live because I associate with folks that come from these kinds of families but people in lower income areas will tend to inherit less but will spend less as their expectations arent anything close to homes in Laguna or RSF. Even when all the cash gets eaten up by medical bills, an original owner with a small house in Clairemont that has never been upgraded has something worth about $400K for their heirs.

[scaredyclassic]

i refuse to answer this question because I have been wrong before.

but, well, I have been getting a flurry of price reductions on listings I follow in my area. All very small. but fairly consistent. houses are going pending and then coming back on the market. price gets cut 2%, then 5%…

OK, dammit, trending down lightly. stop asking me!

[scaredyclassic]

i refuse to answer this question because I have been wrong before.

but, well, I have been getting a flurry of price reductions on listings I follow in my area. All very small. but fairly consistent. houses are going pending and then coming back on the market. price gets cut 2%, then 5%…

OK, dammit, trending down lightly. stop asking me!

[scaredyclassic]

i refuse to answer this question because I have been wrong before.

but, well, I have been getting a flurry of price reductions on listings I follow in my area. All very small. but fairly consistent. houses are going pending and then coming back on the market. price gets cut 2%, then 5%…

OK, dammit, trending down lightly. stop asking me!

[scaredyclassic]

i refuse to answer this question because I have been wrong before.

but, well, I have been getting a flurry of price reductions on listings I follow in my area. All very small. but fairly consistent. houses are going pending and then coming back on the market. price gets cut 2%, then 5%…

OK, dammit, trending down lightly. stop asking me!

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