[CAwireman]

Responses:

Kev: most of those I know in the 25 – 35 range are either level-headed or have parents with $$. And, this can’t be the norm, so my info isn’t much help there.

Yooklid: Congrats on being younger and making big bucks. I am actually comtemplating an involuntary job change. If you aren’t opposed, can say way industry you are in? I’d love to know.

lbjames: If I was younger and not married, I’d like to live in PD too. I almost moved there with a female friend about 4 years ago before meeting someone else and tying the knot.

Josh: On dating ugly. I, er, um. Good luck with that strategy….. Why should you expect more if you are attractive- its part of Darwin’s survival of the fittest bascially. Nothing more and nothing less.

Davelj: I think that women may feel comfy living beyond their means because either parents or the perspective hubby may materialize to bail them out, at least temporarily. I agree. Comfort with leverage is rampant.

G2006: Yep, dual income, or dual income no kids helps out a lot. The common/high divorce rates do much to contribute to NOD and RE sales (I estimate).

SD R: In addition to 401K, family expense, please add the new tax burden for those making over $100K (I forget the term).

Concho – Yep, a good offense is a good defense! Don’t surf from a computer upon which you do your finances! Try to keep your finance computer off the internet if at all possible. Always good to have non-routable IP addresses on all your internal computers. If you don’t know about good IP security – LEARN!

PS – As Warren Buffett said, you don’t know who’s swimming naked until the tide goes out. What a great quote!

As for me and the missuz, we have no dept and combined income is over $150K ( at least for the time being…) The group we hang with, ages 35 – 55, professionals who are good savers or have had homes for 5 – 7 plus years. We don’t live large. I think the younger crowd either drank the cool aid, or doesn’t care, or maybe has no hope and is thus taking all they can get – whilst the gettin is good.

[CAwireman]

AK, good post. I wonder if it will be a delay or if it will end up dampening the blow.

This is an approach that could dramatically soften the blow, IF a) more banks take this approach, b) borrowers are accessible enough to communicate with, and c) It makes econimic sense for those holding the mortgages.

Basically, while folks like myself (a renter) would like to see significant corrections in property values, especially in bubblicious SD, the Powerful folks are all in alignment with one another. Here’s what I mean – The Banks and Wallstreet folks have the government lawmakers in their pockets. Agreed? The government has historically encouraged home ownership (Tax deductions for interest, preferential conditions for first-time buyers…)Many/most people if given a shot at a fair market value for a home, would/did take out a mortgage for one. If the prices were more reasonable, I would too.

So, on one side we have: Banking/mortgage industry, Wallstreet, myriad of RE-dependent small, medium, large industries,and last but not least – home owners. And I probably left out many others.

Who does that leave on the “Other side” of the issue:
Renters (like me) licking their wounds for not catching a ride on the last upswing. There are bound to be some others, but I can’t think of any right now.

But, basically, all the might is on the side of business/government/homeowners. The cards are stacked in their favor.

However, if banks have indeed over-extended themselves and their’s just too much speculative value in homes for them to negotiate away, then the possible significant correction we talk about on this blog every day could take place…..

[CAwireman]

RO,

I don’t know that I’ve seen your posts here before.
(maybe I missed them)

I welcome thoughts which run contrary to ones presented on this forum.

Also, since Poway Seller stopped posting, its become somewhat boring around here.

Please keep your valuable and interesting comments coming!

[CAwireman]

Happy 1 year sdrealtor and thanks for all your contributions. I hope to meet up with you at the next Piggington dine out.

[CAwireman]

However….

The Dean “Cowbreath” article reads like a nakedly self serving piece to help con people into believing that the market is still sound if you are but lucky enough to be able to afford a $1MM plus property.

Journalists like this (and I could be wrong) sound like writers bought and paid for by special interest/good ole boy/RE Cronies.

All other accurate news coverage is pointed in exactly the opposite direction.

Also, I heard a radio spot on NPR tonight. Some investment advisors are worried that people are taking the RE downturn serious enough. Basically, people are trying to quickly shake this off and move on. But the radio post, as has been stated in posts here often, went on to paint a possible scenario where the housing downturn pulls the country into recession.

Writing a contrarian article like this serves no positive purpose.

I’ll stop now. I didn’t get enough sleep for the last few nights, so maybe I’m rambling……

[CAwireman]

Yeah, way to to Poway Seller. I miss your interesting posts. But good luck with your new site.

Be sure to come back and post from time to time!

[CAwireman]

NOOOoooooooo!

We don’t need any more good posters to leave Piggington.

Bugs should stay!

[CAwireman]

Rockclimber had begun to chart the data. Would love to see an updated graph!

Is there anyone else out there that needs more to do?

😉

[CAwireman]

Thank you SD Realtor, much appreciated.

That you are seeing different things in different Zipcodes makes perfect sense. People behave differently depending upon their demographic and economic situation. And those behaviors have a tendency to follow along the lines of Zipcodes (not a perfect science, but a fairly predictable art…)

The take away is that while business might be fairly active, you are seeing 2004-ish prices and hence any 2006, and 2005 level increases are being or have been eroded.

This is all good information to have and track as some of us look for a good entry point for a home in the years to come.

[CAwireman]

sd realtor, thanks for your insight as to current pricing levels and the difficulty in going back to 2003 for comparison.

I had no idea that pricing was so volatile throughout 2003 and through to early 2004.

Now, if I hear that pricing for a unit matches early 2003 pricing, it will carry far more weight.

[CAwireman]

One more question, how do you get Zillow to show you the past prices for properties?

Over and out.

[CAwireman]

SDR and sdr, I get that maybe what you are seeing, at least for your own practices that business is out there to be had.

So, to confirm, as you still are moving property, you are
a) consistenly seeing pricing that is at or below 2004 levels.
b) consistently seeing pricing at or above 2004 levels
c)Its all over the place with no rhyme or reason?
d)MYOB – go f^&k yourself!

While its great that some realtors are still able to make a buck, it would be good for the Piggingtonian folks to know if the prices you are seeing are in line with the board’s expectation of notable softening back to 2005, 2004 or 2003 levels.

Your contrubutions as realtors to this forum are invaluable.

Thanks!

[CAwireman]

Asragov,

Thanks for the link. I am finding it a very interesting read.

[CAwireman]

Way to go Rich. Now, if I can just convince my wife…..

😉

[CAwireman]

I read the letter. Can we all agree that the letter was meant to be satirical?

Moreover, this link I believe was the inspiration for it:

The Plot Thickens in Fraud Park

[Author]

Posts