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Eugene.
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November 28, 2007 at 8:53 AM #104242November 28, 2007 at 9:32 AM #104412
kev374
ParticipantThe 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.
November 28, 2007 at 9:32 AM #104394kev374
ParticipantThe 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.
November 28, 2007 at 9:32 AM #104271kev374
ParticipantThe 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.
November 28, 2007 at 9:32 AM #104367kev374
ParticipantThe 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.
November 28, 2007 at 9:32 AM #104358kev374
ParticipantThe 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.
November 28, 2007 at 10:02 AM #104395CMcG
ParticipantDid 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.
November 28, 2007 at 10:02 AM #104402CMcG
ParticipantDid 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.
November 28, 2007 at 10:02 AM #104450CMcG
ParticipantDid 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.
November 28, 2007 at 10:02 AM #104430CMcG
ParticipantDid 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.
November 28, 2007 at 10:02 AM #104306CMcG
ParticipantDid 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.
November 28, 2007 at 10:05 AM #104311Anonymous
GuestAnd 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.
November 28, 2007 at 10:05 AM #104454Anonymous
GuestAnd 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.
November 28, 2007 at 10:05 AM #104399Anonymous
GuestAnd 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.
November 28, 2007 at 10:05 AM #104408Anonymous
GuestAnd 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.
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