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July 31, 2006 at 11:21 AM in reply to: Dowtown condo buyer “unconcerned” about overpaying $24K on commission #30154
bob007
Participantdollar needs to fall against all currencies not just yen and euro
Participantthe falling prices are neutralized by rising interest rates which means prices have to fall further
Participantbeing an engineer i was out of work for 1 years during last recession. i did not have any mortgage payments. i was able to ride it out.
Participantlot of doctors and dentists were overpaid.
my dentist in san diego billed me for $1000 for a 2 hour procedure. i am not sure even if it was necessary.
ParticipantAre Sony and Nokia leaving San Diego ?
Participanti used to think median income would determine median housing proces. i see a lot of folks renting out rooms to meet mortgage payments.
ParticipantWhy can’t I build a house for $150,0000 in Amarillo ?
Why spend $650,000 ? For that I can buy a 40 year old 1500 sq ft home in San Jose for $700,000.ParticipantSome folks like me started working in Silicon Valley after 2000. They did not have the down payment to bid for homes in 2002. They got priced out 2003 and later.
High income jobs have been around. I do not think there is a net increase in high income jobs. There is no assurance jobs will stay around five years from now.
Participantwhat is the consequence of getting a huge home loan and defaulting on it ?
Participantwhat is the consequence of getting a huge home loan and defaulting on it ?
Participantit is possible that san jose real estate market stays high given the number of high income couples who are living in apartments. lot of home owners have mortgage payments of less than $1000 on their primary residence. they have amassed plenty of money to scoop up apartments and condos should the real estate market go soft.
Participantconsumers have plenty of options
1. consumers have an option of buying a toyota corolla or honda civic to a ford explorer. it is not like 50% of population need SUVs and pickup trucks.
2. consumers can purchase houses close to their workplace.
If everyone wants a five acre lot with a big backyard their commutes will be longer.3. change the link between homes and schools. A lot of folks purchase their homes in neighborhoods which have good public schools. lots of folks live in suburbia and work in metro areas. it leads to a lot of gas consumption.
4. most people have voted against mass transit initiatives. mass transit works only if there is a critical mass in the network and in the number of users.
ParticipantI think surveys are stupid in the long run. Find out the average mortgage rate and the rise in median income. That is the biggest determinant of real estate in San Diego.
ParticipantIsrael and Hezbollah is a minor skirmish. World War III can happen between two powers of relatively equal strength. No one is close to USA even though China might get there in the future.
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