Why aren’t more people talking about price ADJUSTMENTS

[GoUSC]

It really really frustrates me. You act responsible, don’t get yourself into debt up to your eyeballs, don’t buy a house you obviously could not afford, and you end up getting screwed for it. Man I hate this situation. I can only hope we see a significant adjustment in the coming years. Hopefully the economy stays SOMEWHAT okay so that those of us that wait will still have a JOB at the end of the day.

[kev374]

The key is downpayment. The lack of a downpayment and stated income loans is what drove prices up. This enabled unemployed delinquents and speculators to just make bids and purchase property with reckless abandon. Now that downpayments and documentation of income are required, demand has of course gone to zero and prices will reset to 2001 levels (i.e. correction of the 2003 Real estate peak cycle). The appreciation from 2003-2005 is pure vapor and shouldn’t even exist absent loose lending.

[kev374]

The key is downpayment. The lack of a downpayment and stated income loans is what drove prices up. This enabled unemployed delinquents and speculators to just make bids and purchase property with reckless abandon. Now that downpayments and documentation of income are required, demand has of course gone to zero and prices will reset to 2001 levels (i.e. correction of the 2003 Real estate peak cycle). The appreciation from 2003-2005 is pure vapor and shouldn’t even exist absent loose lending.

[kev374]

The key is downpayment. The lack of a downpayment and stated income loans is what drove prices up. This enabled unemployed delinquents and speculators to just make bids and purchase property with reckless abandon. Now that downpayments and documentation of income are required, demand has of course gone to zero and prices will reset to 2001 levels (i.e. correction of the 2003 Real estate peak cycle). The appreciation from 2003-2005 is pure vapor and shouldn’t even exist absent loose lending.

[kev374]

The key is downpayment. The lack of a downpayment and stated income loans is what drove prices up. This enabled unemployed delinquents and speculators to just make bids and purchase property with reckless abandon. Now that downpayments and documentation of income are required, demand has of course gone to zero and prices will reset to 2001 levels (i.e. correction of the 2003 Real estate peak cycle). The appreciation from 2003-2005 is pure vapor and shouldn’t even exist absent loose lending.

[kev374]

The key is downpayment. The lack of a downpayment and stated income loans is what drove prices up. This enabled unemployed delinquents and speculators to just make bids and purchase property with reckless abandon. Now that downpayments and documentation of income are required, demand has of course gone to zero and prices will reset to 2001 levels (i.e. correction of the 2003 Real estate peak cycle). The appreciation from 2003-2005 is pure vapor and shouldn’t even exist absent loose lending.

[CMcG]

Did anyone else read the story in this morning’s UT that reported SD is now out of the top 10 least affordable cities in the U.S.? We are now number 16. It’s hard to believe.

[CMcG]

Did anyone else read the story in this morning’s UT that reported SD is now out of the top 10 least affordable cities in the U.S.? We are now number 16. It’s hard to believe.

[CMcG]

Did anyone else read the story in this morning’s UT that reported SD is now out of the top 10 least affordable cities in the U.S.? We are now number 16. It’s hard to believe.

[CMcG]

Did anyone else read the story in this morning’s UT that reported SD is now out of the top 10 least affordable cities in the U.S.? We are now number 16. It’s hard to believe.

[CMcG]

Did anyone else read the story in this morning’s UT that reported SD is now out of the top 10 least affordable cities in the U.S.? We are now number 16. It’s hard to believe.

[Anonymous]

And yet, people are still buying. I just saw a house I was eyeing, just to see how it depreciates, and now it’s pending. I cringe every time I see a house go “Pending”, granted some of these do fall out of pending, but some don’t. These are the people that are making the market stabilize at a much slower pace.

[Anonymous]

And yet, people are still buying. I just saw a house I was eyeing, just to see how it depreciates, and now it’s pending. I cringe every time I see a house go “Pending”, granted some of these do fall out of pending, but some don’t. These are the people that are making the market stabilize at a much slower pace.

[Anonymous]

And yet, people are still buying. I just saw a house I was eyeing, just to see how it depreciates, and now it’s pending. I cringe every time I see a house go “Pending”, granted some of these do fall out of pending, but some don’t. These are the people that are making the market stabilize at a much slower pace.

[Anonymous]

And yet, people are still buying. I just saw a house I was eyeing, just to see how it depreciates, and now it’s pending. I cringe every time I see a house go “Pending”, granted some of these do fall out of pending, but some don’t. These are the people that are making the market stabilize at a much slower pace.

[Author]

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