[CA renter]

We rent a nice 4 bedroom SFH — with a private backyard — in North County, about 10 minutes from the beach. It’s not everything we want, but we make due because rent is significantly cheaper than buying the same house, even with 20-30% down.

Our landlord has spent about $15,000 on repairs & maintenance in the past 4 years (big mold problem before we moved in took up most of that). We’ve spent about $5,000 with the agreement that there will be no rent increases until mid-2009, at the earliest. We got a new shower, and even got to choose the tiles, shower door, grout color, etc. 🙂

We aren’t trying to profit from someone else’s misery, but we certainly won’t enslave ourselves to debt for 30 years just to give someone else a profit on a over-priced house.

I think a lot of posters aren’t bottom-feeders, as much as they are realists. It’s entirely possible we won’t have pensions or SS or healthcare available to us as current and preceding generations do, thus forcing us to save even more. There is no guarantee that housing prices will rise in perpetuity. What if the multi-decade expansionary credit cycle changes direction?

[CA renter]

The biggest part of the price run-up in San Diego happened between 2001 and 2004/2005. Prices had already doubled in some areas between 1997/1998 and 2001.

There is plenty of reason to believe prices across the board will reach pre-2001 levels. SFHs in Encinitas near the coast (older ‘hoods) were selling for $200K-ish and are now priced anywhere from $650K to $1MM+.

The better areas have not **yet** seen the big declines. They are coming, IMHO.

Patience…

[CA renter]

The biggest part of the price run-up in San Diego happened between 2001 and 2004/2005. Prices had already doubled in some areas between 1997/1998 and 2001.

There is plenty of reason to believe prices across the board will reach pre-2001 levels. SFHs in Encinitas near the coast (older ‘hoods) were selling for $200K-ish and are now priced anywhere from $650K to $1MM+.

The better areas have not **yet** seen the big declines. They are coming, IMHO.

Patience…

[CA renter]

The biggest part of the price run-up in San Diego happened between 2001 and 2004/2005. Prices had already doubled in some areas between 1997/1998 and 2001.

There is plenty of reason to believe prices across the board will reach pre-2001 levels. SFHs in Encinitas near the coast (older ‘hoods) were selling for $200K-ish and are now priced anywhere from $650K to $1MM+.

The better areas have not **yet** seen the big declines. They are coming, IMHO.

Patience…

[CA renter]

The biggest part of the price run-up in San Diego happened between 2001 and 2004/2005. Prices had already doubled in some areas between 1997/1998 and 2001.

There is plenty of reason to believe prices across the board will reach pre-2001 levels. SFHs in Encinitas near the coast (older ‘hoods) were selling for $200K-ish and are now priced anywhere from $650K to $1MM+.

The better areas have not **yet** seen the big declines. They are coming, IMHO.

Patience…

[CA renter]

The biggest part of the price run-up in San Diego happened between 2001 and 2004/2005. Prices had already doubled in some areas between 1997/1998 and 2001.

There is plenty of reason to believe prices across the board will reach pre-2001 levels. SFHs in Encinitas near the coast (older ‘hoods) were selling for $200K-ish and are now priced anywhere from $650K to $1MM+.

The better areas have not **yet** seen the big declines. They are coming, IMHO.

Patience…

[CA renter]

Having been through the whole small claims court drama to get a deposit back, I can attest to the importance of lots of pictures/video. Also, keep track of ALL receipts for repairs/maintenance, etc. Get everything in writing, and document every phone call, etc.

What we do now is video & photo BEFORE we move in, and video & photo of the same stuff after we’ve moved out. That way, you can show what was pre-existing (good and bad, as many tenants actually improve the property, like you did). Use a picture/video of that day’s newspaper to show the date (as mentioned above).

Good luck!!

[CA renter]

Having been through the whole small claims court drama to get a deposit back, I can attest to the importance of lots of pictures/video. Also, keep track of ALL receipts for repairs/maintenance, etc. Get everything in writing, and document every phone call, etc.

What we do now is video & photo BEFORE we move in, and video & photo of the same stuff after we’ve moved out. That way, you can show what was pre-existing (good and bad, as many tenants actually improve the property, like you did). Use a picture/video of that day’s newspaper to show the date (as mentioned above).

Good luck!!

[CA renter]

Having been through the whole small claims court drama to get a deposit back, I can attest to the importance of lots of pictures/video. Also, keep track of ALL receipts for repairs/maintenance, etc. Get everything in writing, and document every phone call, etc.

What we do now is video & photo BEFORE we move in, and video & photo of the same stuff after we’ve moved out. That way, you can show what was pre-existing (good and bad, as many tenants actually improve the property, like you did). Use a picture/video of that day’s newspaper to show the date (as mentioned above).

Good luck!!

[CA renter]

Having been through the whole small claims court drama to get a deposit back, I can attest to the importance of lots of pictures/video. Also, keep track of ALL receipts for repairs/maintenance, etc. Get everything in writing, and document every phone call, etc.

What we do now is video & photo BEFORE we move in, and video & photo of the same stuff after we’ve moved out. That way, you can show what was pre-existing (good and bad, as many tenants actually improve the property, like you did). Use a picture/video of that day’s newspaper to show the date (as mentioned above).

Good luck!!

[CA renter]

Having been through the whole small claims court drama to get a deposit back, I can attest to the importance of lots of pictures/video. Also, keep track of ALL receipts for repairs/maintenance, etc. Get everything in writing, and document every phone call, etc.

What we do now is video & photo BEFORE we move in, and video & photo of the same stuff after we’ve moved out. That way, you can show what was pre-existing (good and bad, as many tenants actually improve the property, like you did). Use a picture/video of that day’s newspaper to show the date (as mentioned above).

Good luck!!

[CA renter]

What I like about it:

-the govt takes first-lien position, protecting
taxpayers’ interests

-the FBs are still expected to pay off their loan(s)

What I don’t like about it:

-Ms. Bair makes the common mistake of confusing
housing affordability with gimmicky mortgages.
True housing affordability comes in the form of
**lower prices**, not more gimmicky loans that
postpone the actual payment of principal & interest.

-What happens in five years when wages are stagnant or
lower and housing prices are stagnant or lower — leaving us right back where we are today? Do we
get another “5 year plan”? Does it ever end?

-What about the incoming buyers? Are they expected to
take on funky mortgages because the govt insists on
keeping an artificial floor under housing prices?

-Who is making sure we don’t see any more of these loan
“products” that caused the problem in the first place?
I’m still hearing commercials for funky loans and the
pace seems to be picking up again — heard of the new
“combo loan” from Countrywide where you wrap all your
debt into a mortgage — effectively what people were
doing all along, but is now being directly encouraged
by the lender…

I still think the best method is to let housing prices fall to such an extent that people can buy based on their documented income (and no more than 30% DTI, max!), using traditional, 15-yr or 30-yr fully amortized loans.

With all the crying about the “affordable housing crisis” over the past few years, one has to wonder why they are now fighting like mad to keep housing at artificially high and unaffordable levels.

[CA renter]

What I like about it:

-the govt takes first-lien position, protecting
taxpayers’ interests

-the FBs are still expected to pay off their loan(s)

What I don’t like about it:

-Ms. Bair makes the common mistake of confusing
housing affordability with gimmicky mortgages.
True housing affordability comes in the form of
**lower prices**, not more gimmicky loans that
postpone the actual payment of principal & interest.

-What happens in five years when wages are stagnant or
lower and housing prices are stagnant or lower — leaving us right back where we are today? Do we
get another “5 year plan”? Does it ever end?

-What about the incoming buyers? Are they expected to
take on funky mortgages because the govt insists on
keeping an artificial floor under housing prices?

-Who is making sure we don’t see any more of these loan
“products” that caused the problem in the first place?
I’m still hearing commercials for funky loans and the
pace seems to be picking up again — heard of the new
“combo loan” from Countrywide where you wrap all your
debt into a mortgage — effectively what people were
doing all along, but is now being directly encouraged
by the lender…

I still think the best method is to let housing prices fall to such an extent that people can buy based on their documented income (and no more than 30% DTI, max!), using traditional, 15-yr or 30-yr fully amortized loans.

With all the crying about the “affordable housing crisis” over the past few years, one has to wonder why they are now fighting like mad to keep housing at artificially high and unaffordable levels.

[CA renter]

What I like about it:

-the govt takes first-lien position, protecting
taxpayers’ interests

-the FBs are still expected to pay off their loan(s)

What I don’t like about it:

-Ms. Bair makes the common mistake of confusing
housing affordability with gimmicky mortgages.
True housing affordability comes in the form of
**lower prices**, not more gimmicky loans that
postpone the actual payment of principal & interest.

-What happens in five years when wages are stagnant or
lower and housing prices are stagnant or lower — leaving us right back where we are today? Do we
get another “5 year plan”? Does it ever end?

-What about the incoming buyers? Are they expected to
take on funky mortgages because the govt insists on
keeping an artificial floor under housing prices?

-Who is making sure we don’t see any more of these loan
“products” that caused the problem in the first place?
I’m still hearing commercials for funky loans and the
pace seems to be picking up again — heard of the new
“combo loan” from Countrywide where you wrap all your
debt into a mortgage — effectively what people were
doing all along, but is now being directly encouraged
by the lender…

I still think the best method is to let housing prices fall to such an extent that people can buy based on their documented income (and no more than 30% DTI, max!), using traditional, 15-yr or 30-yr fully amortized loans.

With all the crying about the “affordable housing crisis” over the past few years, one has to wonder why they are now fighting like mad to keep housing at artificially high and unaffordable levels.

[CA renter]

What I like about it:

-the govt takes first-lien position, protecting
taxpayers’ interests

-the FBs are still expected to pay off their loan(s)

What I don’t like about it:

-Ms. Bair makes the common mistake of confusing
housing affordability with gimmicky mortgages.
True housing affordability comes in the form of
**lower prices**, not more gimmicky loans that
postpone the actual payment of principal & interest.

-What happens in five years when wages are stagnant or
lower and housing prices are stagnant or lower — leaving us right back where we are today? Do we
get another “5 year plan”? Does it ever end?

-What about the incoming buyers? Are they expected to
take on funky mortgages because the govt insists on
keeping an artificial floor under housing prices?

-Who is making sure we don’t see any more of these loan
“products” that caused the problem in the first place?
I’m still hearing commercials for funky loans and the
pace seems to be picking up again — heard of the new
“combo loan” from Countrywide where you wrap all your
debt into a mortgage — effectively what people were
doing all along, but is now being directly encouraged
by the lender…

I still think the best method is to let housing prices fall to such an extent that people can buy based on their documented income (and no more than 30% DTI, max!), using traditional, 15-yr or 30-yr fully amortized loans.

With all the crying about the “affordable housing crisis” over the past few years, one has to wonder why they are now fighting like mad to keep housing at artificially high and unaffordable levels.

[Author]

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