- This topic has 88 replies, 16 voices, and was last updated 16 years, 5 months ago by
NotCranky.
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November 4, 2007 at 9:21 PM #95682November 4, 2007 at 9:21 PM #95691
SD Realtor
Participantcitydweller – I would advise you to ask them to visit this site and others like it. You can also send them to Jim’s website. Contrary to what everyone says there are a few realtors out there who do have views that are not unrealistic.
These friends ultimately will make thier own choice regardless of your advice. However if you have them perhaps view what some other realtors think of this market then maybe that will sway them to hold off.
SD Realtor
November 4, 2007 at 9:21 PM #95698Participantcitydweller – I would advise you to ask them to visit this site and others like it. You can also send them to Jim’s website. Contrary to what everyone says there are a few realtors out there who do have views that are not unrealistic.
These friends ultimately will make thier own choice regardless of your advice. However if you have them perhaps view what some other realtors think of this market then maybe that will sway them to hold off.
SD Realtor
November 5, 2007 at 7:10 AM #95753blue_sky
ParticipantI’ve developed a new approach for giving people advice, whenever they ask me about a stupid investment idea (including buying real estate at current prices in San Diego) the conversation goes something like this:
Person: “I found a company that’s offering me a 40% guaranteed return. They invest in XXX, which is [blah blah blah]”
Me: “Go for it, the worst that can happen is you get a 40% return”.
Person: “What do you mean?”
Me: “The best thing that can happen is you lose all your money, but you’re young so it doesn’t matter and you’ll learn to avoid these kinds of scams. If you actually do get 40% you’re one of the lucky ones at the start of this scheme and you’ll end up investing like this until you lose all your money later, at which point it will be more painful. So I suggest you get this learning experience out of the way now.”
Really makes people stop and think, much better way to go about it than try to fight them on something they’re already mentally invested in.
November 5, 2007 at 7:10 AM #95812ParticipantI’ve developed a new approach for giving people advice, whenever they ask me about a stupid investment idea (including buying real estate at current prices in San Diego) the conversation goes something like this:
Person: “I found a company that’s offering me a 40% guaranteed return. They invest in XXX, which is [blah blah blah]”
Me: “Go for it, the worst that can happen is you get a 40% return”.
Person: “What do you mean?”
Me: “The best thing that can happen is you lose all your money, but you’re young so it doesn’t matter and you’ll learn to avoid these kinds of scams. If you actually do get 40% you’re one of the lucky ones at the start of this scheme and you’ll end up investing like this until you lose all your money later, at which point it will be more painful. So I suggest you get this learning experience out of the way now.”
Really makes people stop and think, much better way to go about it than try to fight them on something they’re already mentally invested in.
November 5, 2007 at 7:10 AM #95819ParticipantI’ve developed a new approach for giving people advice, whenever they ask me about a stupid investment idea (including buying real estate at current prices in San Diego) the conversation goes something like this:
Person: “I found a company that’s offering me a 40% guaranteed return. They invest in XXX, which is [blah blah blah]”
Me: “Go for it, the worst that can happen is you get a 40% return”.
Person: “What do you mean?”
Me: “The best thing that can happen is you lose all your money, but you’re young so it doesn’t matter and you’ll learn to avoid these kinds of scams. If you actually do get 40% you’re one of the lucky ones at the start of this scheme and you’ll end up investing like this until you lose all your money later, at which point it will be more painful. So I suggest you get this learning experience out of the way now.”
Really makes people stop and think, much better way to go about it than try to fight them on something they’re already mentally invested in.
November 5, 2007 at 7:10 AM #95826ParticipantI’ve developed a new approach for giving people advice, whenever they ask me about a stupid investment idea (including buying real estate at current prices in San Diego) the conversation goes something like this:
Person: “I found a company that’s offering me a 40% guaranteed return. They invest in XXX, which is [blah blah blah]”
Me: “Go for it, the worst that can happen is you get a 40% return”.
Person: “What do you mean?”
Me: “The best thing that can happen is you lose all your money, but you’re young so it doesn’t matter and you’ll learn to avoid these kinds of scams. If you actually do get 40% you’re one of the lucky ones at the start of this scheme and you’ll end up investing like this until you lose all your money later, at which point it will be more painful. So I suggest you get this learning experience out of the way now.”
Really makes people stop and think, much better way to go about it than try to fight them on something they’re already mentally invested in.
November 5, 2007 at 8:55 AM #95833(former)FormerSanDiegan
Participanthttp://piggington.com/august_case_shiller_hpi
When the line starts going up again the bottom just passed.
I don’t think its possible to call a bottom except via hindsight. Which is kind of ironic given that everyone claims that about bubbles as well, which obviously isn’t true.
Gotta agree with kewp.
The problem is that the bottom of the market will look very similar to how the market looks now (weak sales, prices plunging, etc). The only difference between the bottom of the market and what the market looks like right now, is what happens after that.
The good news is that the housing market moves rather slowly. One can get in well after the bottom and still do quite well.
The bottom will happen when people stop worrying that this might be the bottom and they might miss the rebound.
November 5, 2007 at 8:55 AM #95890Participanthttp://piggington.com/august_case_shiller_hpi
When the line starts going up again the bottom just passed.
I don’t think its possible to call a bottom except via hindsight. Which is kind of ironic given that everyone claims that about bubbles as well, which obviously isn’t true.
Gotta agree with kewp.
The problem is that the bottom of the market will look very similar to how the market looks now (weak sales, prices plunging, etc). The only difference between the bottom of the market and what the market looks like right now, is what happens after that.
The good news is that the housing market moves rather slowly. One can get in well after the bottom and still do quite well.
The bottom will happen when people stop worrying that this might be the bottom and they might miss the rebound.
November 5, 2007 at 8:55 AM #95900Participanthttp://piggington.com/august_case_shiller_hpi
When the line starts going up again the bottom just passed.
I don’t think its possible to call a bottom except via hindsight. Which is kind of ironic given that everyone claims that about bubbles as well, which obviously isn’t true.
Gotta agree with kewp.
The problem is that the bottom of the market will look very similar to how the market looks now (weak sales, prices plunging, etc). The only difference between the bottom of the market and what the market looks like right now, is what happens after that.
The good news is that the housing market moves rather slowly. One can get in well after the bottom and still do quite well.
The bottom will happen when people stop worrying that this might be the bottom and they might miss the rebound.
November 5, 2007 at 8:55 AM #95906Participanthttp://piggington.com/august_case_shiller_hpi
When the line starts going up again the bottom just passed.
I don’t think its possible to call a bottom except via hindsight. Which is kind of ironic given that everyone claims that about bubbles as well, which obviously isn’t true.
Gotta agree with kewp.
The problem is that the bottom of the market will look very similar to how the market looks now (weak sales, prices plunging, etc). The only difference between the bottom of the market and what the market looks like right now, is what happens after that.
The good news is that the housing market moves rather slowly. One can get in well after the bottom and still do quite well.
The bottom will happen when people stop worrying that this might be the bottom and they might miss the rebound.
November 5, 2007 at 9:15 AM #95841citydweller
ParticipantThanks for all the comments and links. I’ve been reading this blog for several months, and this is the first time that someone I know has been seriously thinking about buying a house. I feel a little uncomfortable advising someone on such a big decision, so I’m glad I was able to pass on these informative web sites. Ultimately, the decision is theirs, but at least if they check out these websites they’ll have a better idea of the downside of this market (as opposed to the optimistic spin they are probably getting from those in the REIC)
November 5, 2007 at 9:15 AM #95899ParticipantThanks for all the comments and links. I’ve been reading this blog for several months, and this is the first time that someone I know has been seriously thinking about buying a house. I feel a little uncomfortable advising someone on such a big decision, so I’m glad I was able to pass on these informative web sites. Ultimately, the decision is theirs, but at least if they check out these websites they’ll have a better idea of the downside of this market (as opposed to the optimistic spin they are probably getting from those in the REIC)
November 5, 2007 at 9:15 AM #95909ParticipantThanks for all the comments and links. I’ve been reading this blog for several months, and this is the first time that someone I know has been seriously thinking about buying a house. I feel a little uncomfortable advising someone on such a big decision, so I’m glad I was able to pass on these informative web sites. Ultimately, the decision is theirs, but at least if they check out these websites they’ll have a better idea of the downside of this market (as opposed to the optimistic spin they are probably getting from those in the REIC)
November 5, 2007 at 9:15 AM #95915ParticipantThanks for all the comments and links. I’ve been reading this blog for several months, and this is the first time that someone I know has been seriously thinking about buying a house. I feel a little uncomfortable advising someone on such a big decision, so I’m glad I was able to pass on these informative web sites. Ultimately, the decision is theirs, but at least if they check out these websites they’ll have a better idea of the downside of this market (as opposed to the optimistic spin they are probably getting from those in the REIC)
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