[anxvariety]

Rent a hotel in a cheap area for a few months, the collapse is nigh. Wondering why there was the impulse to pay over ask? Greed’s impulse to boost neighboring comps to facilitate a pathological appetite for more leverage.

[anxvariety]

All speculative demand.. will vanish just as quickly as it appeared.

[anxvariety]

Prepare to be much poorer no matter the strategy. The bubble fills to get as many people locked into to interest paying contracts as possible, before deflating rapidly.. those with interest paying agreements will unfortunately pay for all the fun over the last decade or so. See Weimar, rations were implemented so # of ‘dollars’ didn’t really matter much unless spending a few hundred for some butter on the black market. The interest paying bagholders, and those charlatans telling others its a good time to buy are agents of inflation.. and ‘we all falll dowwnnn’. “but but I thought that loans were going to be easier to pay back with inflation!” “well, the inflation already occurred no one told you about this next part? its great and all that you have 1% interest but you paid 1 million for a 1000 sq ft ‘crap shack'”.

[anxvariety]

With the crash comes reality

[anxvariety]

[quote=bearishgurl][quote=anxvariety]I think rent must be defined materially in order for the argument to be substantive. One can cherry pick purchase prices as well as rents and make a compelling argument. From an economic perspective though can one argue that home prices have found bottom/climbed from/climbing from etc, without considering where interest rates must head? I agree that rent and purchase are disconnected at the moment, but many find serenity in a 1 year lease.[/quote]

AV, I take it you are renting on a one-year lease? If that is the case, hopefully, you will be able to buy something before or when it expires. If you want to “own,” the sooner you buy, the better, IMHO.

Forget your “fixation” on “interest rates.” They go up and they go down. As a buyer, you are looking for price and built-in sweat equity. You don’t give a rat’s a$$ about interest rates. If you bought in a higher-interest-rate climate, when they get lower, you will refi. End of story.

If you think “interest rates” are going to affect sales volume and prices in coastal CA counties, I’m here to tell you that they won’t. Buyers who need mortgages will simply buy less house for the same amount of money, as they always did. The buyers who don’t need a mortgage will pay cash (for a discount), as they always did.

If you are trying to make a “connection” between “interest rates” and home prices here, put away your spreadsheet … you are wasting your time. As you are coming upon your seven-year Pigg anniversary, the horse left the barn 2-3 yrs ago and the door is closing but has not yet slammed shut. My advice is to get moving NOW on your home search (remaining mos of lease be damned) and keep the Piggs posted on your progress :)[/quote]

I am not in/on a lease, the question isn’t particular to Coastal CA – opinion is that both are mostly irrelevant. How can one argue that change in interest rates will not affect prices?

[anxvariety]

[quote=carlsbadworker][quote=flu]Rates are gonna stay low per fed action[/quote]

That said, if there is a black swan event[/quote]

Like the reference. Interested in what your interpretation of the term is?

[anxvariety]

[quote=outtamojo]I can’t believe you’ve been here for 6 years and not stumbled over this dead horse that’s been beaten to oblivion and beyond. On the other hand, congratulations for starting a housing related thread.[/quote]

You probably have a valid point. I will read through existing threads to confirm 😉

[anxvariety]

I think rent must be defined materially in order for the argument to be substantive. One can cherry pick purchase prices as well as rents and make a compelling argument. From an economic perspective though can one argue that home prices have found bottom/climbed from/climbing from etc, without considering where interest rates must head? I agree that rent and purchase are disconnected at the moment, but many find serenity in a 1 year lease.

[anxvariety]

Programming book. See if it sticks.

[anxvariety]

I don’t think anyone wants to buy it, if they did they sounds like they’d be better off going to eBay. You could try pawning it here in a different thread.

[anxvariety]

How does E&O insurance factor in here? When insured, does the insurer provide the inspector with contract requirements?

[anxvariety]

bump

[anxvariety]

Good to hear! Make sure to get out to the beach for some of that fresh ocean air!

[anxvariety]

europacific in Oceanside/Vista is another. Used to know owner, not sure if he still owns it – but smaller shop than the others. Not making a recommendation, but maybe a spot to get a quote see their work.

[anxvariety]

europacific in Oceanside/Vista is another. Used to know owner, not sure if he still owns it – but smaller shop than the others. Not making a recommendation, but maybe a spot to get a quote see their work.

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