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andymajumder
ParticipantSeriously, if San Diego homes loose 80% of their value from the peak over the next 5 yrs….that would mean the economy has been completely destroyed by then and we are in a severe depression. Frankly, home prices would be least of my concern by then when I am standing in soup line with my kid and wife (I assuming we both would have lost our jobs by than).
Its great that you got your calls right till now, but don’t get carried away by negativity. I would advise you read Rick’s analysis on inflation and how the Fed can create significant inflation eventually if they keep the printing presses on.Will quality of life degrade for average american over the next couple of decades? probably yes. But, it will actually happen in the form of inflation as an additional form of taxation, where we will be spending a higher percantage of our disposable income on basic necessities of life like food, housing and clothing, like the rest of the world already does.
ParticipantSeriously, if San Diego homes loose 80% of their value from the peak over the next 5 yrs….that would mean the economy has been completely destroyed by then and we are in a severe depression. Frankly, home prices would be least of my concern by then when I am standing in soup line with my kid and wife (I assuming we both would have lost our jobs by than).
Its great that you got your calls right till now, but don’t get carried away by negativity. I would advise you read Rick’s analysis on inflation and how the Fed can create significant inflation eventually if they keep the printing presses on.Will quality of life degrade for average american over the next couple of decades? probably yes. But, it will actually happen in the form of inflation as an additional form of taxation, where we will be spending a higher percantage of our disposable income on basic necessities of life like food, housing and clothing, like the rest of the world already does.
ParticipantSeriously, if San Diego homes loose 80% of their value from the peak over the next 5 yrs….that would mean the economy has been completely destroyed by then and we are in a severe depression. Frankly, home prices would be least of my concern by then when I am standing in soup line with my kid and wife (I assuming we both would have lost our jobs by than).
Its great that you got your calls right till now, but don’t get carried away by negativity. I would advise you read Rick’s analysis on inflation and how the Fed can create significant inflation eventually if they keep the printing presses on.Will quality of life degrade for average american over the next couple of decades? probably yes. But, it will actually happen in the form of inflation as an additional form of taxation, where we will be spending a higher percantage of our disposable income on basic necessities of life like food, housing and clothing, like the rest of the world already does.
ParticipantI actually did check out that house, needed quite a bit of work (major plumping issues) and was very dated. Also, though I am not an expert on Scripps Ranch, I think thats the least desirable part of SCripps. I am not sure if the house had any structural problem (never bothered since wife din’t like it at all). Still I think its a pretty good deal for that big a SFH in Scripps.
ParticipantI actually did check out that house, needed quite a bit of work (major plumping issues) and was very dated. Also, though I am not an expert on Scripps Ranch, I think thats the least desirable part of SCripps. I am not sure if the house had any structural problem (never bothered since wife din’t like it at all). Still I think its a pretty good deal for that big a SFH in Scripps.
ParticipantI actually did check out that house, needed quite a bit of work (major plumping issues) and was very dated. Also, though I am not an expert on Scripps Ranch, I think thats the least desirable part of SCripps. I am not sure if the house had any structural problem (never bothered since wife din’t like it at all). Still I think its a pretty good deal for that big a SFH in Scripps.
ParticipantI actually did check out that house, needed quite a bit of work (major plumping issues) and was very dated. Also, though I am not an expert on Scripps Ranch, I think thats the least desirable part of SCripps. I am not sure if the house had any structural problem (never bothered since wife din’t like it at all). Still I think its a pretty good deal for that big a SFH in Scripps.
ParticipantI actually did check out that house, needed quite a bit of work (major plumping issues) and was very dated. Also, though I am not an expert on Scripps Ranch, I think thats the least desirable part of SCripps. I am not sure if the house had any structural problem (never bothered since wife din’t like it at all). Still I think its a pretty good deal for that big a SFH in Scripps.
ParticipantI have been to these condos too. At 450K they are barely 20% off from the peak prices and they have a $300+ monthly HOA + mello roos. The yard size is tiny and in most cases someone else’s bedroom looks right into your yard. Agree its a nice location specially if you are working in Sorrento Valley and the community is nice. But, really its still too expensive for a 1450sqft condo.
ParticipantI have been to these condos too. At 450K they are barely 20% off from the peak prices and they have a $300+ monthly HOA + mello roos. The yard size is tiny and in most cases someone else’s bedroom looks right into your yard. Agree its a nice location specially if you are working in Sorrento Valley and the community is nice. But, really its still too expensive for a 1450sqft condo.
ParticipantI have been to these condos too. At 450K they are barely 20% off from the peak prices and they have a $300+ monthly HOA + mello roos. The yard size is tiny and in most cases someone else’s bedroom looks right into your yard. Agree its a nice location specially if you are working in Sorrento Valley and the community is nice. But, really its still too expensive for a 1450sqft condo.
ParticipantI have been to these condos too. At 450K they are barely 20% off from the peak prices and they have a $300+ monthly HOA + mello roos. The yard size is tiny and in most cases someone else’s bedroom looks right into your yard. Agree its a nice location specially if you are working in Sorrento Valley and the community is nice. But, really its still too expensive for a 1450sqft condo.
ParticipantI have been to these condos too. At 450K they are barely 20% off from the peak prices and they have a $300+ monthly HOA + mello roos. The yard size is tiny and in most cases someone else’s bedroom looks right into your yard. Agree its a nice location specially if you are working in Sorrento Valley and the community is nice. But, really its still too expensive for a 1450sqft condo.
ParticipantI don’t see how we can get back to 2000 nominal prices in at least the desirable areas of San Diego. Looking at the chart of historical mortgage rates it seems like rates were ~6.5% in 2000. Right now it is possible to get 30 yr fixed at 4.5%. This makes a big difference to how much people can afford, so unless interest rates shoot up, I don’t see how we can go back to 2000 nominal prices.
The real winners have been people who bought in the late 1990s or 2000-2002 span and were able to refinance to the low rates now.
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