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August 27, 2007 at 11:31 AM in reply to: Massive loss in Mira Mesa, purchased $570K, listing at $399K-$450K #81696August 27, 2007 at 11:31 AM in reply to: Massive loss in Mira Mesa, purchased $570K, listing at $399K-$450K #81715
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ParticipantI’ve been following Mira Mesa very closely and short of getting extreme discounts, I highly down anything can cash flow positive in Mira Mesa. This one comes close but still short by a few hundreds. Also, many houses in Mira Mesa are small with small rooms, so adding walls to make more rooms is a horrible idea i think. But that’s just me.
Participantsurveyor, I think your sarcasm meter is broken :-).
Participantsurveyor, I think your sarcasm meter is broken :-).
Participantsurveyor, I think your sarcasm meter is broken :-).
ParticipantNavydoc, I don’t know what he’s trolling for but all his points are nothing new. They are what the CAR/NAR spew. Like someone said before, put your $ where your mouth is, Alex. Go buy a couple of houses and be done with it.
ParticipantNavydoc, I don’t know what he’s trolling for but all his points are nothing new. They are what the CAR/NAR spew. Like someone said before, put your $ where your mouth is, Alex. Go buy a couple of houses and be done with it.
ParticipantNavydoc, I don’t know what he’s trolling for but all his points are nothing new. They are what the CAR/NAR spew. Like someone said before, put your $ where your mouth is, Alex. Go buy a couple of houses and be done with it.
ParticipantPlease stop feeding the troll.
ParticipantPlease stop feeding the troll.
ParticipantPlease stop feeding the troll.
Participant“Anyone who has been living here for 7 years of longer and did not buy missed the boat once.”
This statement only applied if you were working 7 years ago. I lived in San Diego for over 15 years, but 7 years ago, I was still a kid in school with only a part time job and housing was the last thing on my mind. When I graduated and have a stable enough job to start thinking about long term investment like a house, that was 2004. I think most people here who are waiting are either young people like myself waiting for our first house or those who bought in 99-ish and sold in 05-ish. I’d say that’s the majority of the posters anyways.
sdcellar, I totally agree. I rather be late (miss the bottom) and catch it on the way up than catch a falling knife. Especially since no one can time the market with any consistency.
Participant“Anyone who has been living here for 7 years of longer and did not buy missed the boat once.”
This statement only applied if you were working 7 years ago. I lived in San Diego for over 15 years, but 7 years ago, I was still a kid in school with only a part time job and housing was the last thing on my mind. When I graduated and have a stable enough job to start thinking about long term investment like a house, that was 2004. I think most people here who are waiting are either young people like myself waiting for our first house or those who bought in 99-ish and sold in 05-ish. I’d say that’s the majority of the posters anyways.
sdcellar, I totally agree. I rather be late (miss the bottom) and catch it on the way up than catch a falling knife. Especially since no one can time the market with any consistency.
Participant“Anyone who has been living here for 7 years of longer and did not buy missed the boat once.”
This statement only applied if you were working 7 years ago. I lived in San Diego for over 15 years, but 7 years ago, I was still a kid in school with only a part time job and housing was the last thing on my mind. When I graduated and have a stable enough job to start thinking about long term investment like a house, that was 2004. I think most people here who are waiting are either young people like myself waiting for our first house or those who bought in 99-ish and sold in 05-ish. I’d say that’s the majority of the posters anyways.
sdcellar, I totally agree. I rather be late (miss the bottom) and catch it on the way up than catch a falling knife. Especially since no one can time the market with any consistency.
ParticipantI don’t see your logic Alex. The last time around, price only drop about 20-25% from peak and it took 10 years to get back to peak price. Also, the last peak was only 15-20% over value. Just take a look at Rich’s primer charts and you’ll see it’ll take awhile for inflation to catch up to 2005 price. We can have a 50% drop and bounce back hard for a 10-20% drop and stay there for 10-15 years, who knows how this will play out. Only time will tell. But looking back at historical prices vs inflation since the 1970s, RE price always traces inflation.
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