Why not walk away?

[sdrealtor]

1996 was the bottom of the last cycle when prices over corrected. Even if prices overcorrect again they would be about double the 1996 prices based upon simple inflation.

[Anonymous]

sdrealtor, I was taking inflation into account.

[Anonymous]

sdrealtor, I was taking inflation into account.

[Anonymous]

sdrealtor, I was taking inflation into account.

[Anonymous]

sdrealtor, I was taking inflation into account.

[Anonymous]

sdrealtor, I was taking inflation into account.

[paramount]

Who knows what you are missing if anything (but most likely are), it’s just my opinion that prices will not slip that far.

I am just one case, but I live in Temecula, I make considerably more than the average (median) person in San Diego or Temecula. I know of many others in a similar situation in Temecula. Yes, I know I don’t make the market, but Temecula is not a poor community – not wealthy either – though there are pockets of wealth in Temecula.

In my community, I would say factoring in commission fees to sell, we are at mid 2003 prices at present.

[paramount]

Who knows what you are missing if anything (but most likely are), it’s just my opinion that prices will not slip that far.

I am just one case, but I live in Temecula, I make considerably more than the average (median) person in San Diego or Temecula. I know of many others in a similar situation in Temecula. Yes, I know I don’t make the market, but Temecula is not a poor community – not wealthy either – though there are pockets of wealth in Temecula.

In my community, I would say factoring in commission fees to sell, we are at mid 2003 prices at present.

[paramount]

Who knows what you are missing if anything (but most likely are), it’s just my opinion that prices will not slip that far.

I am just one case, but I live in Temecula, I make considerably more than the average (median) person in San Diego or Temecula. I know of many others in a similar situation in Temecula. Yes, I know I don’t make the market, but Temecula is not a poor community – not wealthy either – though there are pockets of wealth in Temecula.

In my community, I would say factoring in commission fees to sell, we are at mid 2003 prices at present.

[paramount]

Who knows what you are missing if anything (but most likely are), it’s just my opinion that prices will not slip that far.

I am just one case, but I live in Temecula, I make considerably more than the average (median) person in San Diego or Temecula. I know of many others in a similar situation in Temecula. Yes, I know I don’t make the market, but Temecula is not a poor community – not wealthy either – though there are pockets of wealth in Temecula.

In my community, I would say factoring in commission fees to sell, we are at mid 2003 prices at present.

[paramount]

Who knows what you are missing if anything (but most likely are), it’s just my opinion that prices will not slip that far.

I am just one case, but I live in Temecula, I make considerably more than the average (median) person in San Diego or Temecula. I know of many others in a similar situation in Temecula. Yes, I know I don’t make the market, but Temecula is not a poor community – not wealthy either – though there are pockets of wealth in Temecula.

In my community, I would say factoring in commission fees to sell, we are at mid 2003 prices at present.

[Ex-SD]

sdrealtor posted: “1996 was the bottom of the last cycle when prices over corrected. Even if prices overcorrect again they would be about double the 1996 prices based upon simple inflation.”

I don’t agree with your logic since that didn’t happen in the majority of the rest of the country that didn’t experience crazy bubble prices. Prices are still going to have to meet median income or you won’t have buyers. Median family income in SD is around $69k. Under your theory, it won’t compute. I think that prices will drop in most areas to where they were in 1998……………but I don’t have a crystal ball either.
Only time will tell which of us is correct. One thing is for sure: Prices are dropping and they’re going to get a lot lower than where they are today.

Re. sandiego and his dillema: If he makes a business decision vs an emotional decision, he will probably quit making his payments and wait for the lender to kick him out. He can pocket 7 – 9 payments which he can use to rent in the same building for far less than he’s probably paying to buy a depreciating asset. I have thought for some time that as this situation got worse, that many, otherwise responsible homeowners who actually put real money into their homes would get to the point where sandiego is today and throw the keys back to the lender.

[Ex-SD]

sdrealtor posted: “1996 was the bottom of the last cycle when prices over corrected. Even if prices overcorrect again they would be about double the 1996 prices based upon simple inflation.”

I don’t agree with your logic since that didn’t happen in the majority of the rest of the country that didn’t experience crazy bubble prices. Prices are still going to have to meet median income or you won’t have buyers. Median family income in SD is around $69k. Under your theory, it won’t compute. I think that prices will drop in most areas to where they were in 1998……………but I don’t have a crystal ball either.
Only time will tell which of us is correct. One thing is for sure: Prices are dropping and they’re going to get a lot lower than where they are today.

Re. sandiego and his dillema: If he makes a business decision vs an emotional decision, he will probably quit making his payments and wait for the lender to kick him out. He can pocket 7 – 9 payments which he can use to rent in the same building for far less than he’s probably paying to buy a depreciating asset. I have thought for some time that as this situation got worse, that many, otherwise responsible homeowners who actually put real money into their homes would get to the point where sandiego is today and throw the keys back to the lender.

[Ex-SD]

sdrealtor posted: “1996 was the bottom of the last cycle when prices over corrected. Even if prices overcorrect again they would be about double the 1996 prices based upon simple inflation.”

I don’t agree with your logic since that didn’t happen in the majority of the rest of the country that didn’t experience crazy bubble prices. Prices are still going to have to meet median income or you won’t have buyers. Median family income in SD is around $69k. Under your theory, it won’t compute. I think that prices will drop in most areas to where they were in 1998……………but I don’t have a crystal ball either.
Only time will tell which of us is correct. One thing is for sure: Prices are dropping and they’re going to get a lot lower than where they are today.

Re. sandiego and his dillema: If he makes a business decision vs an emotional decision, he will probably quit making his payments and wait for the lender to kick him out. He can pocket 7 – 9 payments which he can use to rent in the same building for far less than he’s probably paying to buy a depreciating asset. I have thought for some time that as this situation got worse, that many, otherwise responsible homeowners who actually put real money into their homes would get to the point where sandiego is today and throw the keys back to the lender.

[Ex-SD]

sdrealtor posted: “1996 was the bottom of the last cycle when prices over corrected. Even if prices overcorrect again they would be about double the 1996 prices based upon simple inflation.”

I don’t agree with your logic since that didn’t happen in the majority of the rest of the country that didn’t experience crazy bubble prices. Prices are still going to have to meet median income or you won’t have buyers. Median family income in SD is around $69k. Under your theory, it won’t compute. I think that prices will drop in most areas to where they were in 1998……………but I don’t have a crystal ball either.
Only time will tell which of us is correct. One thing is for sure: Prices are dropping and they’re going to get a lot lower than where they are today.

Re. sandiego and his dillema: If he makes a business decision vs an emotional decision, he will probably quit making his payments and wait for the lender to kick him out. He can pocket 7 – 9 payments which he can use to rent in the same building for far less than he’s probably paying to buy a depreciating asset. I have thought for some time that as this situation got worse, that many, otherwise responsible homeowners who actually put real money into their homes would get to the point where sandiego is today and throw the keys back to the lender.

[Author]

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