What will it take to get you to buy a house?

[hpi]

depends on

1. whether you are able to use your money, since you hold a lot of cash right now. If you can get very good return from stocks … probably it is reasonable to stay as renters for a few years.

2. the house price will not go down 30%, not mentioned the rent cost set a limit for how low the house price can be (comparing rent a house to own a similar house, it dones’t make sense to compare renting a 1 br apartment to owning a 3-4 br house with private yard)

3. what and where you want to buy. The bottom is different from area to area …

[hpi]

depends on

1. whether you are able to use your money, since you hold a lot of cash right now. If you can get very good return from stocks … probably it is reasonable to stay as renters for a few years.

2. the house price will not go down 30%, not mentioned the rent cost set a limit for how low the house price can be (comparing rent a house to own a similar house, it dones’t make sense to compare renting a 1 br apartment to owning a 3-4 br house with private yard)

3. what and where you want to buy. The bottom is different from area to area …

[hpi]

depends on

1. whether you are able to use your money, since you hold a lot of cash right now. If you can get very good return from stocks … probably it is reasonable to stay as renters for a few years.

2. the house price will not go down 30%, not mentioned the rent cost set a limit for how low the house price can be (comparing rent a house to own a similar house, it dones’t make sense to compare renting a 1 br apartment to owning a 3-4 br house with private yard)

3. what and where you want to buy. The bottom is different from area to area …

[hpi]

depends on

1. whether you are able to use your money, since you hold a lot of cash right now. If you can get very good return from stocks … probably it is reasonable to stay as renters for a few years.

2. the house price will not go down 30%, not mentioned the rent cost set a limit for how low the house price can be (comparing rent a house to own a similar house, it dones’t make sense to compare renting a 1 br apartment to owning a 3-4 br house with private yard)

3. what and where you want to buy. The bottom is different from area to area …

[hipmatt]

I’ll buy a home when they lend me the money (103%) on stated income like everyone else. – j/k

I probably won’t buy unless the market drops like I expect it will. I’m waiting for at least 50% off of peak. If it never does, I’m happy renting and saving the extra cash… or we might move anyways. I feel that it will, especially up here in Temecula area.

There is a lot more out there than socal, and I’ve been here all my life. A big change could be cool for our family.

[hipmatt]

I’ll buy a home when they lend me the money (103%) on stated income like everyone else. – j/k

I probably won’t buy unless the market drops like I expect it will. I’m waiting for at least 50% off of peak. If it never does, I’m happy renting and saving the extra cash… or we might move anyways. I feel that it will, especially up here in Temecula area.

There is a lot more out there than socal, and I’ve been here all my life. A big change could be cool for our family.

[hipmatt]

I’ll buy a home when they lend me the money (103%) on stated income like everyone else. – j/k

I probably won’t buy unless the market drops like I expect it will. I’m waiting for at least 50% off of peak. If it never does, I’m happy renting and saving the extra cash… or we might move anyways. I feel that it will, especially up here in Temecula area.

There is a lot more out there than socal, and I’ve been here all my life. A big change could be cool for our family.

[hipmatt]

I’ll buy a home when they lend me the money (103%) on stated income like everyone else. – j/k

I probably won’t buy unless the market drops like I expect it will. I’m waiting for at least 50% off of peak. If it never does, I’m happy renting and saving the extra cash… or we might move anyways. I feel that it will, especially up here in Temecula area.

There is a lot more out there than socal, and I’ve been here all my life. A big change could be cool for our family.

[hipmatt]

I’ll buy a home when they lend me the money (103%) on stated income like everyone else. – j/k

I probably won’t buy unless the market drops like I expect it will. I’m waiting for at least 50% off of peak. If it never does, I’m happy renting and saving the extra cash… or we might move anyways. I feel that it will, especially up here in Temecula area.

There is a lot more out there than socal, and I’ve been here all my life. A big change could be cool for our family.

[drunkle]

if things get really shitty, buying a home might be besides the point…

so i guess, being confident in my income stability, social/political stability and then price stability would be the factors to consider in my mind.

[drunkle]

if things get really shitty, buying a home might be besides the point…

so i guess, being confident in my income stability, social/political stability and then price stability would be the factors to consider in my mind.

[drunkle]

if things get really shitty, buying a home might be besides the point…

so i guess, being confident in my income stability, social/political stability and then price stability would be the factors to consider in my mind.

[drunkle]

if things get really shitty, buying a home might be besides the point…

so i guess, being confident in my income stability, social/political stability and then price stability would be the factors to consider in my mind.

[drunkle]

if things get really shitty, buying a home might be besides the point…

so i guess, being confident in my income stability, social/political stability and then price stability would be the factors to consider in my mind.

[(former)FormerSanDiegan]

Here’s my proxy …
I’m looking for 3/2 SFRs in bread-and-butter areas for rental purposes to be priced at about zero cash flow with 20% down before I even start tracking seriously. Bread-and-butter SFRs would be in areas like Clairemont, Serra Mesa, Kearny Mesa. If things go far enough down, then maybe even Point Loma will hit zero cash flow and the others areas slightly positive. I recently ran the numbers for some low-end Clairemont houses, they were still 15-20% too high for zero cash flow.

Assuming rates and rents are about where they are today, I’ll start looking to buy at another -15%. If long-rates go up 1%, I’d need to see another -25% or so. If long-rates go down 1%, it might make sense 5-10% below today’s prices. If rents drop, I would need prices to drop proportionally.

[Author]

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