- This topic has 133 replies, 22 voices, and was last updated 16 years, 5 months ago by
(former)FormerSanDiegan.
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November 15, 2007 at 4:22 PM #99971November 15, 2007 at 4:22 PM #99990
kev374
ParticipantFor places that I follow it now costs about 2/3 to 3/4 as much to rent as to “own”.
No, it doesn’t, not here in Irvine at least. You can rent a 3 bedroom, 1700sqft house for $2400/mo. That same house will cost $650,000 to buy. PITI+HOA+Maintainance+Mello Roost will at least be $7000/mo. with current jumbo rates and zero down, and that is if you can EVEN get a loan for the full amount.
November 15, 2007 at 4:22 PM #100001ParticipantFor places that I follow it now costs about 2/3 to 3/4 as much to rent as to “own”.
No, it doesn’t, not here in Irvine at least. You can rent a 3 bedroom, 1700sqft house for $2400/mo. That same house will cost $650,000 to buy. PITI+HOA+Maintainance+Mello Roost will at least be $7000/mo. with current jumbo rates and zero down, and that is if you can EVEN get a loan for the full amount.
November 15, 2007 at 4:22 PM #100006ParticipantFor places that I follow it now costs about 2/3 to 3/4 as much to rent as to “own”.
No, it doesn’t, not here in Irvine at least. You can rent a 3 bedroom, 1700sqft house for $2400/mo. That same house will cost $650,000 to buy. PITI+HOA+Maintainance+Mello Roost will at least be $7000/mo. with current jumbo rates and zero down, and that is if you can EVEN get a loan for the full amount.
November 16, 2007 at 6:26 AM #100007Anonymous
GuestIMO, by following this site and taking in all the graphs, updates, discussions etc., you can get a fairly clear picture of where the market actually is at any given moment in time, and you can also project forward with some clarity, although not certainty. By doing this, you are already ahead of the 99% of people who merely read the news and fall for the propaganda. At some point, figures like notices of default, foreclosures, monthly price and sales declines, rent/own ratios etc. will start to look more appealing, or even flat. May also need to see signs that our current state of credit and housing imposed stress on the economy has passed. If that 700k home that is now 600k goes down to 450k and I sense the market has stabilized, I’d probably buy.
November 16, 2007 at 6:26 AM #100086GuestIMO, by following this site and taking in all the graphs, updates, discussions etc., you can get a fairly clear picture of where the market actually is at any given moment in time, and you can also project forward with some clarity, although not certainty. By doing this, you are already ahead of the 99% of people who merely read the news and fall for the propaganda. At some point, figures like notices of default, foreclosures, monthly price and sales declines, rent/own ratios etc. will start to look more appealing, or even flat. May also need to see signs that our current state of credit and housing imposed stress on the economy has passed. If that 700k home that is now 600k goes down to 450k and I sense the market has stabilized, I’d probably buy.
November 16, 2007 at 6:26 AM #100103GuestIMO, by following this site and taking in all the graphs, updates, discussions etc., you can get a fairly clear picture of where the market actually is at any given moment in time, and you can also project forward with some clarity, although not certainty. By doing this, you are already ahead of the 99% of people who merely read the news and fall for the propaganda. At some point, figures like notices of default, foreclosures, monthly price and sales declines, rent/own ratios etc. will start to look more appealing, or even flat. May also need to see signs that our current state of credit and housing imposed stress on the economy has passed. If that 700k home that is now 600k goes down to 450k and I sense the market has stabilized, I’d probably buy.
November 16, 2007 at 6:26 AM #100116GuestIMO, by following this site and taking in all the graphs, updates, discussions etc., you can get a fairly clear picture of where the market actually is at any given moment in time, and you can also project forward with some clarity, although not certainty. By doing this, you are already ahead of the 99% of people who merely read the news and fall for the propaganda. At some point, figures like notices of default, foreclosures, monthly price and sales declines, rent/own ratios etc. will start to look more appealing, or even flat. May also need to see signs that our current state of credit and housing imposed stress on the economy has passed. If that 700k home that is now 600k goes down to 450k and I sense the market has stabilized, I’d probably buy.
November 16, 2007 at 6:26 AM #100119GuestIMO, by following this site and taking in all the graphs, updates, discussions etc., you can get a fairly clear picture of where the market actually is at any given moment in time, and you can also project forward with some clarity, although not certainty. By doing this, you are already ahead of the 99% of people who merely read the news and fall for the propaganda. At some point, figures like notices of default, foreclosures, monthly price and sales declines, rent/own ratios etc. will start to look more appealing, or even flat. May also need to see signs that our current state of credit and housing imposed stress on the economy has passed. If that 700k home that is now 600k goes down to 450k and I sense the market has stabilized, I’d probably buy.
November 16, 2007 at 9:58 AM #100122(former)FormerSanDiegan
ParticipantNo, it doesn’t, not here in Irvine at least.
Good point. I was interpreting from a San Diego perspective.
Irvine appears to be a bit behind SD in the current cycle.November 16, 2007 at 9:58 AM #100201ParticipantNo, it doesn’t, not here in Irvine at least.
Good point. I was interpreting from a San Diego perspective.
Irvine appears to be a bit behind SD in the current cycle.November 16, 2007 at 9:58 AM #100219ParticipantNo, it doesn’t, not here in Irvine at least.
Good point. I was interpreting from a San Diego perspective.
Irvine appears to be a bit behind SD in the current cycle.November 16, 2007 at 9:58 AM #100230ParticipantNo, it doesn’t, not here in Irvine at least.
Good point. I was interpreting from a San Diego perspective.
Irvine appears to be a bit behind SD in the current cycle.November 16, 2007 at 9:58 AM #100233ParticipantNo, it doesn’t, not here in Irvine at least.
Good point. I was interpreting from a San Diego perspective.
Irvine appears to be a bit behind SD in the current cycle. -
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