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Eugene
ParticipantHow’s this for a fundamental
http://www.redfin.com/stingray/do/printable-listing?listing-id=1181689
ParticipantBTW, I’m not saying that San Diego is back to fundamentals. I’m not even saying that 4S Ranch as a whole is back to fundamentals. In fact much of the resale market is still 15-20% or so overpriced, even at todays interest rates. (The cheapest 3500 sq ft resale I see in 4S ranch is listed for 775K)
ParticipantBTW, I’m not saying that San Diego is back to fundamentals. I’m not even saying that 4S Ranch as a whole is back to fundamentals. In fact much of the resale market is still 15-20% or so overpriced, even at todays interest rates. (The cheapest 3500 sq ft resale I see in 4S ranch is listed for 775K)
ParticipantBTW, I’m not saying that San Diego is back to fundamentals. I’m not even saying that 4S Ranch as a whole is back to fundamentals. In fact much of the resale market is still 15-20% or so overpriced, even at todays interest rates. (The cheapest 3500 sq ft resale I see in 4S ranch is listed for 775K)
ParticipantBTW, I’m not saying that San Diego is back to fundamentals. I’m not even saying that 4S Ranch as a whole is back to fundamentals. In fact much of the resale market is still 15-20% or so overpriced, even at todays interest rates. (The cheapest 3500 sq ft resale I see in 4S ranch is listed for 775K)
ParticipantBTW, I’m not saying that San Diego is back to fundamentals. I’m not even saying that 4S Ranch as a whole is back to fundamentals. In fact much of the resale market is still 15-20% or so overpriced, even at todays interest rates. (The cheapest 3500 sq ft resale I see in 4S ranch is listed for 775K)
Participantright now, the economy is feeling some tremors of instability. all those RE jobs wiped out… those people are not going to be in the mood for supporting fundamentals…
That’s a circular argument … The economy is unstable because housing prices are declining. Therefore, housing prices will keep declining more.
Conversely, if housing prices rebound this spring because of ultra-low mortgage rates, the economy will get back on track.
Participantright now, the economy is feeling some tremors of instability. all those RE jobs wiped out… those people are not going to be in the mood for supporting fundamentals…
That’s a circular argument … The economy is unstable because housing prices are declining. Therefore, housing prices will keep declining more.
Conversely, if housing prices rebound this spring because of ultra-low mortgage rates, the economy will get back on track.
Participantright now, the economy is feeling some tremors of instability. all those RE jobs wiped out… those people are not going to be in the mood for supporting fundamentals…
That’s a circular argument … The economy is unstable because housing prices are declining. Therefore, housing prices will keep declining more.
Conversely, if housing prices rebound this spring because of ultra-low mortgage rates, the economy will get back on track.
Participantright now, the economy is feeling some tremors of instability. all those RE jobs wiped out… those people are not going to be in the mood for supporting fundamentals…
That’s a circular argument … The economy is unstable because housing prices are declining. Therefore, housing prices will keep declining more.
Conversely, if housing prices rebound this spring because of ultra-low mortgage rates, the economy will get back on track.
Participantright now, the economy is feeling some tremors of instability. all those RE jobs wiped out… those people are not going to be in the mood for supporting fundamentals…
That’s a circular argument … The economy is unstable because housing prices are declining. Therefore, housing prices will keep declining more.
Conversely, if housing prices rebound this spring because of ultra-low mortgage rates, the economy will get back on track.
ParticipantYour argument was that if owning would cost you the same as rent, then why not buy? Well, my argument to that was if you buy today when prices are steadily dropping rather than waiting a year (or more) that second year and thereafter, you’re gonna lose money. Period.
The argument is this. If we’re back to fundamentals, prices may continue dropping but only at the expense of rising interest rates. You can buy a house today for $500k, agree to pay $3000/month, and live in it for 20 years, and sell it for (let’s say)$1 mil. Alternatively, you can rent for two more years, buy the same house for $400k, end up paying the same $3000/month, live in it for 18 years, and sell it for $1 mil. Net result is the same.
And if you think that you may have to sell after a few years, you should not buy a house in the first place.
ParticipantYour argument was that if owning would cost you the same as rent, then why not buy? Well, my argument to that was if you buy today when prices are steadily dropping rather than waiting a year (or more) that second year and thereafter, you’re gonna lose money. Period.
The argument is this. If we’re back to fundamentals, prices may continue dropping but only at the expense of rising interest rates. You can buy a house today for $500k, agree to pay $3000/month, and live in it for 20 years, and sell it for (let’s say)$1 mil. Alternatively, you can rent for two more years, buy the same house for $400k, end up paying the same $3000/month, live in it for 18 years, and sell it for $1 mil. Net result is the same.
And if you think that you may have to sell after a few years, you should not buy a house in the first place.
ParticipantYour argument was that if owning would cost you the same as rent, then why not buy? Well, my argument to that was if you buy today when prices are steadily dropping rather than waiting a year (or more) that second year and thereafter, you’re gonna lose money. Period.
The argument is this. If we’re back to fundamentals, prices may continue dropping but only at the expense of rising interest rates. You can buy a house today for $500k, agree to pay $3000/month, and live in it for 20 years, and sell it for (let’s say)$1 mil. Alternatively, you can rent for two more years, buy the same house for $400k, end up paying the same $3000/month, live in it for 18 years, and sell it for $1 mil. Net result is the same.
And if you think that you may have to sell after a few years, you should not buy a house in the first place.
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