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North County Jim.
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June 21, 2007 at 3:32 AM #60928June 21, 2007 at 3:32 AM #60964
cashflow
ParticipantI am a SAHM too and this is also why we are so price conscientious. I would never want to risk losing the equity we pulled out from the sale of our home last year as this is our safety net that gives us piece of mind in having only one income earner.
We will buy when we’re comfortable with the price…not trying to exactly time the market, just make a wise buying decision based on our circumstances.
That being said, if I had school aged children right now, I think it would be even harder to be renting and waiting on the sidelines. Moving around and trying to stay in the same school district would not be easy…so everyone’s personal situation is different.
I think most people here are in the same boat, just trying to get more insight on the current market conditions…and most are the type that have bought and sold and won’t hesitate to do again when the time is right for them.
June 21, 2007 at 11:02 AM #61011sdcellar
Participantmyito– You suggest the housing bears come here to see their perspective supported. Ever since you first posted, I’ve wondered why you’re here. Might I suggest that you’re the one with doubt seeking reinforcement.
Perhaps you’re hearing it more often and in more places that this is a bad time to buy. Too late, you’ve bought, so you come here and try to find fault to convince yourself that you made the right decision.
The only reason you “struck a cord” is because you codemned renters and made accusations that few if any here would eventually buy. And you were wrong on both counts.
Personally, I love the opposing viewpoints, and if homebuying lurkers are staying away, that’s too bad, but could it have more to do with the tenuousness of their position on the subject rather than all the meanies here?
Trust me, I’ll buy a house when it makes sense. My situation is simple, I’m like one of the other posters that bought at a previous peak, so I simply refuse to do it again. In the meantime, I rent a very nice home and I pay less for it than every single homeowner on my street.
Finally, most of the posts show as much etiquette as you have. You’ve made a decision that it sounds like you can live with, so great for you, but sounds like you’re the one seeking out education. To turn your comment back on you: If you truly believe now was a good time to buy, sit back and relax, enjoy your wonderful home, and don’t worry about any potential market downturn. And, iIf I were being complete, I’d have included steer clear of bubble blogs, but as I mentioned, I love opposing viewpoints, so stick around!
June 21, 2007 at 11:02 AM #61048Participantmyito– You suggest the housing bears come here to see their perspective supported. Ever since you first posted, I’ve wondered why you’re here. Might I suggest that you’re the one with doubt seeking reinforcement.
Perhaps you’re hearing it more often and in more places that this is a bad time to buy. Too late, you’ve bought, so you come here and try to find fault to convince yourself that you made the right decision.
The only reason you “struck a cord” is because you codemned renters and made accusations that few if any here would eventually buy. And you were wrong on both counts.
Personally, I love the opposing viewpoints, and if homebuying lurkers are staying away, that’s too bad, but could it have more to do with the tenuousness of their position on the subject rather than all the meanies here?
Trust me, I’ll buy a house when it makes sense. My situation is simple, I’m like one of the other posters that bought at a previous peak, so I simply refuse to do it again. In the meantime, I rent a very nice home and I pay less for it than every single homeowner on my street.
Finally, most of the posts show as much etiquette as you have. You’ve made a decision that it sounds like you can live with, so great for you, but sounds like you’re the one seeking out education. To turn your comment back on you: If you truly believe now was a good time to buy, sit back and relax, enjoy your wonderful home, and don’t worry about any potential market downturn. And, iIf I were being complete, I’d have included steer clear of bubble blogs, but as I mentioned, I love opposing viewpoints, so stick around!
June 21, 2007 at 11:05 AM #61015Participantoh, and Ozzie, add some value. As someone else pointed out, it’s simple discourse, you seem to be the shouter. Eeek, scary site! Now everybody’s a Nazi? Get a grip pal.
June 21, 2007 at 11:05 AM #61052Participantoh, and Ozzie, add some value. As someone else pointed out, it’s simple discourse, you seem to be the shouter. Eeek, scary site! Now everybody’s a Nazi? Get a grip pal.
June 21, 2007 at 12:08 PM #61039donaldduckmoore
ParticipantMyito, this is probably not the right site for you. I see this as a support group to people to want to buy but they have the time to wait. I have been reading in this site for a while. I have tried several time to buy but without the support of the people with logical rationale behind not buying right now in this site, I would have bought a house a while ago I am not supposed to buy. Tell you the truth, emotionally, I favor buying because we have savings, jobs and everything that you mentioned. But my other side of the brain keep telling me that this is not the right time. I knew it even without reading posts from this site, but my emotion is so strong sometimes I cannot resist. To make the long story short, without these people and their analysis and support, I would have bought it big time. In the end, it is your decision to make to purchase now or not. You don’t even have to seek any advice from other people if you think you should. Why bother to seek opinion from a site that is strongly against buying a house at this time. I am a little curious.
June 21, 2007 at 12:08 PM #61076ParticipantMyito, this is probably not the right site for you. I see this as a support group to people to want to buy but they have the time to wait. I have been reading in this site for a while. I have tried several time to buy but without the support of the people with logical rationale behind not buying right now in this site, I would have bought a house a while ago I am not supposed to buy. Tell you the truth, emotionally, I favor buying because we have savings, jobs and everything that you mentioned. But my other side of the brain keep telling me that this is not the right time. I knew it even without reading posts from this site, but my emotion is so strong sometimes I cannot resist. To make the long story short, without these people and their analysis and support, I would have bought it big time. In the end, it is your decision to make to purchase now or not. You don’t even have to seek any advice from other people if you think you should. Why bother to seek opinion from a site that is strongly against buying a house at this time. I am a little curious.
June 21, 2007 at 12:20 PM #61051(former)FormerSanDiegan
Participantmyito –
Buying now is better than having purchased in 2005.
You’ve dodged the initial decline, good for you.You have an awareness of how bad things may get.
As long as you have a plan to deal with it, I see no problem.BTW – I own a house in SD still. Sold my personal residence, but kept a rental property near the coast). I have about 50% equity (well, maybe 45% now) in it. It cash flows and I plan to hold it or replace it with other SD property in the future and continue to own something along the SD coast at least until I can retire there in 20-25 years. I contemplated selling it, but I would have guaranteed myself a ~20% hit due to selling costs and capital gains taxes, as well as depreciation recapture taxes. Plus I am lazy, and it is mostly a no-hassle situation.
June 21, 2007 at 12:20 PM #61088Participantmyito –
Buying now is better than having purchased in 2005.
You’ve dodged the initial decline, good for you.You have an awareness of how bad things may get.
As long as you have a plan to deal with it, I see no problem.BTW – I own a house in SD still. Sold my personal residence, but kept a rental property near the coast). I have about 50% equity (well, maybe 45% now) in it. It cash flows and I plan to hold it or replace it with other SD property in the future and continue to own something along the SD coast at least until I can retire there in 20-25 years. I contemplated selling it, but I would have guaranteed myself a ~20% hit due to selling costs and capital gains taxes, as well as depreciation recapture taxes. Plus I am lazy, and it is mostly a no-hassle situation.
June 21, 2007 at 12:29 PM #61059LA_Renter
Participant“You suggest the housing bears come here to see their perspective supported. Ever since you first posted, I’ve wondered why you’re here. Might I suggest that you’re the one with doubt seeking reinforcement.”
That’s exactly what I was thinking. And to think of it I have seen a little blip of new posters in the last few weeks that seem to be defending their recent purchases or rationalizing their upcoming purchase. Now the foundation of this blog is the presupposition that we are in a housing bubble.
“Southern California Housing Bubble News and Analysis”
That is very clear and concise. Anybody taking the time to come to this site and read posts and then take the time to post either wants to have their current views on housing confirmed (guilty , I also need this as an outlet as I wait it out)) or has serious concerns and doubts about the current state of housing. I think that Myito’s post was very sincere and authentic and I personally think post like these enrich this site. What I see in this thread is what I think is the greatest conflict in this current state of housing. The potential devastating financial consequences of the housing bubble as clearly outlined in Rich’s blog juxtaposed to nesting instincts. There is an unspoken social contract that owning your ouwn home enhances your security and much of this is predicated on a myth that home prices never fall. IMO the current state of housing does not offer this security. Look at the front page of this blog and look at that graph of NOD’s and NOT’s. That is nothing less than shocking and unprecedented. There is a human story for each and every one those NOD’s and NOT’s filed. Some were greedy and stupid and deserving and some were just everyday people that don’t have the time to truly analyze the financial consequences of their actions and got caught up in group think. It will be interesting to see how that social contract of owning RE is altered after this thing plays out.
June 21, 2007 at 12:29 PM #61096Participant“You suggest the housing bears come here to see their perspective supported. Ever since you first posted, I’ve wondered why you’re here. Might I suggest that you’re the one with doubt seeking reinforcement.”
That’s exactly what I was thinking. And to think of it I have seen a little blip of new posters in the last few weeks that seem to be defending their recent purchases or rationalizing their upcoming purchase. Now the foundation of this blog is the presupposition that we are in a housing bubble.
“Southern California Housing Bubble News and Analysis”
That is very clear and concise. Anybody taking the time to come to this site and read posts and then take the time to post either wants to have their current views on housing confirmed (guilty , I also need this as an outlet as I wait it out)) or has serious concerns and doubts about the current state of housing. I think that Myito’s post was very sincere and authentic and I personally think post like these enrich this site. What I see in this thread is what I think is the greatest conflict in this current state of housing. The potential devastating financial consequences of the housing bubble as clearly outlined in Rich’s blog juxtaposed to nesting instincts. There is an unspoken social contract that owning your ouwn home enhances your security and much of this is predicated on a myth that home prices never fall. IMO the current state of housing does not offer this security. Look at the front page of this blog and look at that graph of NOD’s and NOT’s. That is nothing less than shocking and unprecedented. There is a human story for each and every one those NOD’s and NOT’s filed. Some were greedy and stupid and deserving and some were just everyday people that don’t have the time to truly analyze the financial consequences of their actions and got caught up in group think. It will be interesting to see how that social contract of owning RE is altered after this thing plays out.
June 21, 2007 at 12:36 PM #61065Alex_angel
ParticipantMyito. good for you. If you have the money and don’t care to sell and just want a place to live then all the power to you. People that care about the year ins and year outs of home prices here are either flippers or investors. Families don’t care. they lock in a price and know what the next 30 years will bring. Your family is numero uno and giving them a home is tops on my list.
The money you could have been wasting on rent is now going towards building your personal fortune instead. God bless and take care.June 21, 2007 at 12:36 PM #61102ParticipantMyito. good for you. If you have the money and don’t care to sell and just want a place to live then all the power to you. People that care about the year ins and year outs of home prices here are either flippers or investors. Families don’t care. they lock in a price and know what the next 30 years will bring. Your family is numero uno and giving them a home is tops on my list.
The money you could have been wasting on rent is now going towards building your personal fortune instead. God bless and take care.June 21, 2007 at 12:50 PM #61068PD
ParticipantAlex, Alex, Alex. No more of this “throwing away money on rent” garbage, please.
I don’t think I’ve met anyone who managed to build wealth while having their net worth grow smaller every month.
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