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Ex-SD
ParticipantRatherOpinionated: You’re new to the forum so you’re not aware that I lived in SD for over 30 years. I saw the “perfect storm” forming in the real estate market in SoCal and sold my home and left the state in the spring of 2005. I bought a home in Greenville, South Carolina which has the lowest percentage of foreclosures of any market in the entire country. This area (along with many, many other areas of the country) did not get caught up in the frenzy of idiocy that took place in CA with housing prices and you can buy one hell of a nice home for $225-$250k and if you jump to the $325-$350 range, you can live exceptionally well. If prices fall enough, I’ll probably move back to San Diego but if they don’t, it’s no skin off my ass since I’m retired and set for life. However, my youngest son insists on staying in San Diego and makes $75k a year and can’t afford a decent SFR. To me, this is ludicrous because he can easily get employed here, make approximately the same amount of money and afford a nice home.
Thus, my interest in the housing market in SoCal.ParticipantRatherOpinionated: You’re new to the forum so you’re not aware that I lived in SD for over 30 years. I saw the “perfect storm” forming in the real estate market in SoCal and sold my home and left the state in the spring of 2005. I bought a home in Greenville, South Carolina which has the lowest percentage of foreclosures of any market in the entire country. This area (along with many, many other areas of the country) did not get caught up in the frenzy of idiocy that took place in CA with housing prices and you can buy one hell of a nice home for $225-$250k and if you jump to the $325-$350 range, you can live exceptionally well. If prices fall enough, I’ll probably move back to San Diego but if they don’t, it’s no skin off my ass since I’m retired and set for life. However, my youngest son insists on staying in San Diego and makes $75k a year and can’t afford a decent SFR. To me, this is ludicrous because he can easily get employed here, make approximately the same amount of money and afford a nice home.
Thus, my interest in the housing market in SoCal.ParticipantRatherOpinionated: You’re new to the forum so you’re not aware that I lived in SD for over 30 years. I saw the “perfect storm” forming in the real estate market in SoCal and sold my home and left the state in the spring of 2005. I bought a home in Greenville, South Carolina which has the lowest percentage of foreclosures of any market in the entire country. This area (along with many, many other areas of the country) did not get caught up in the frenzy of idiocy that took place in CA with housing prices and you can buy one hell of a nice home for $225-$250k and if you jump to the $325-$350 range, you can live exceptionally well. If prices fall enough, I’ll probably move back to San Diego but if they don’t, it’s no skin off my ass since I’m retired and set for life. However, my youngest son insists on staying in San Diego and makes $75k a year and can’t afford a decent SFR. To me, this is ludicrous because he can easily get employed here, make approximately the same amount of money and afford a nice home.
Thus, my interest in the housing market in SoCal.ParticipantRatherOpinionated: You’re new to the forum so you’re not aware that I lived in SD for over 30 years. I saw the “perfect storm” forming in the real estate market in SoCal and sold my home and left the state in the spring of 2005. I bought a home in Greenville, South Carolina which has the lowest percentage of foreclosures of any market in the entire country. This area (along with many, many other areas of the country) did not get caught up in the frenzy of idiocy that took place in CA with housing prices and you can buy one hell of a nice home for $225-$250k and if you jump to the $325-$350 range, you can live exceptionally well. If prices fall enough, I’ll probably move back to San Diego but if they don’t, it’s no skin off my ass since I’m retired and set for life. However, my youngest son insists on staying in San Diego and makes $75k a year and can’t afford a decent SFR. To me, this is ludicrous because he can easily get employed here, make approximately the same amount of money and afford a nice home.
Thus, my interest in the housing market in SoCal.Participantsdrealtor: You are correct. As an example, where I live in SC (major city) that house would rent for around $1800-$2000 per month. But the taxes would only be around $1700-$1800 per year and the house would probably be constructed with bricks and you would have a much larger lot.
San Diego is one hell of nice place to live and there’s a price that one can extract from people to live in SD………but now that some sanity has returned to the lenders with their lending practices, prices are going to have to meet income ratios or the majority of people will be priced out of owning and the inventory will grow much larger than it already is today.Participantsdrealtor: You are correct. As an example, where I live in SC (major city) that house would rent for around $1800-$2000 per month. But the taxes would only be around $1700-$1800 per year and the house would probably be constructed with bricks and you would have a much larger lot.
San Diego is one hell of nice place to live and there’s a price that one can extract from people to live in SD………but now that some sanity has returned to the lenders with their lending practices, prices are going to have to meet income ratios or the majority of people will be priced out of owning and the inventory will grow much larger than it already is today.Participantsdrealtor: You are correct. As an example, where I live in SC (major city) that house would rent for around $1800-$2000 per month. But the taxes would only be around $1700-$1800 per year and the house would probably be constructed with bricks and you would have a much larger lot.
San Diego is one hell of nice place to live and there’s a price that one can extract from people to live in SD………but now that some sanity has returned to the lenders with their lending practices, prices are going to have to meet income ratios or the majority of people will be priced out of owning and the inventory will grow much larger than it already is today.Participantsdrealtor: You are correct. As an example, where I live in SC (major city) that house would rent for around $1800-$2000 per month. But the taxes would only be around $1700-$1800 per year and the house would probably be constructed with bricks and you would have a much larger lot.
San Diego is one hell of nice place to live and there’s a price that one can extract from people to live in SD………but now that some sanity has returned to the lenders with their lending practices, prices are going to have to meet income ratios or the majority of people will be priced out of owning and the inventory will grow much larger than it already is today.Participantsdrealtor: You are correct. As an example, where I live in SC (major city) that house would rent for around $1800-$2000 per month. But the taxes would only be around $1700-$1800 per year and the house would probably be constructed with bricks and you would have a much larger lot.
San Diego is one hell of nice place to live and there’s a price that one can extract from people to live in SD………but now that some sanity has returned to the lenders with their lending practices, prices are going to have to meet income ratios or the majority of people will be priced out of owning and the inventory will grow much larger than it already is today.Participantsdrealtor: You are correct. As an example, where I live in SC (major city) that house would rent for around $1800-$2000 per month. But the taxes would only be around $1700-$1800 per year and the house would probably be constructed with bricks and you would have a much larger lot.
San Diego is one hell of nice place to live and there’s a price that one can extract from people to live in SD………but now that some sanity has returned to the lenders with their lending practices, prices are going to have to meet income ratios or the majority of people will be priced out of owning and the inventory will grow much larger than it already is today.ParticipantSD Realtor: So, you think that people who are sitting on a wad of cash are going to throw it at the housing market? I am sitting on a large amount of liquid assets and I wouldn’t throw one nickel at the SoCal housing market until prices came into line with income. I have friends who have much more than myself and they also would not consider putting any money in the SoCal housing market until prices are in alignment with income. Call me stupid if you wish but there is a large house of cards that is steadily falling as I type and throwing money at that house of cards until it reaches a level that is monetarily sane just doesn’t make any sense to me.
If the average Joe Blow can’t afford a home in SoCal because he can’t qualify for an average home because they’re priced ridiculously high, who’s going to purchase all of these homes……….and how will they purchase them……………….and why will they purchase them if they’re over-priced? Doesn’t make any sense to me. When they were giving loans to people with marginal credit and the only qualification was that they could fog up a mirror, sign their X on the dotted line and lie about their income, it was a different matter. But that ain’t the case any more, is it?ParticipantSD Realtor: So, you think that people who are sitting on a wad of cash are going to throw it at the housing market? I am sitting on a large amount of liquid assets and I wouldn’t throw one nickel at the SoCal housing market until prices came into line with income. I have friends who have much more than myself and they also would not consider putting any money in the SoCal housing market until prices are in alignment with income. Call me stupid if you wish but there is a large house of cards that is steadily falling as I type and throwing money at that house of cards until it reaches a level that is monetarily sane just doesn’t make any sense to me.
If the average Joe Blow can’t afford a home in SoCal because he can’t qualify for an average home because they’re priced ridiculously high, who’s going to purchase all of these homes……….and how will they purchase them……………….and why will they purchase them if they’re over-priced? Doesn’t make any sense to me. When they were giving loans to people with marginal credit and the only qualification was that they could fog up a mirror, sign their X on the dotted line and lie about their income, it was a different matter. But that ain’t the case any more, is it?ParticipantSD Realtor: So, you think that people who are sitting on a wad of cash are going to throw it at the housing market? I am sitting on a large amount of liquid assets and I wouldn’t throw one nickel at the SoCal housing market until prices came into line with income. I have friends who have much more than myself and they also would not consider putting any money in the SoCal housing market until prices are in alignment with income. Call me stupid if you wish but there is a large house of cards that is steadily falling as I type and throwing money at that house of cards until it reaches a level that is monetarily sane just doesn’t make any sense to me.
If the average Joe Blow can’t afford a home in SoCal because he can’t qualify for an average home because they’re priced ridiculously high, who’s going to purchase all of these homes……….and how will they purchase them……………….and why will they purchase them if they’re over-priced? Doesn’t make any sense to me. When they were giving loans to people with marginal credit and the only qualification was that they could fog up a mirror, sign their X on the dotted line and lie about their income, it was a different matter. But that ain’t the case any more, is it?ParticipantSD Realtor: So, you think that people who are sitting on a wad of cash are going to throw it at the housing market? I am sitting on a large amount of liquid assets and I wouldn’t throw one nickel at the SoCal housing market until prices came into line with income. I have friends who have much more than myself and they also would not consider putting any money in the SoCal housing market until prices are in alignment with income. Call me stupid if you wish but there is a large house of cards that is steadily falling as I type and throwing money at that house of cards until it reaches a level that is monetarily sane just doesn’t make any sense to me.
If the average Joe Blow can’t afford a home in SoCal because he can’t qualify for an average home because they’re priced ridiculously high, who’s going to purchase all of these homes……….and how will they purchase them……………….and why will they purchase them if they’re over-priced? Doesn’t make any sense to me. When they were giving loans to people with marginal credit and the only qualification was that they could fog up a mirror, sign their X on the dotted line and lie about their income, it was a different matter. But that ain’t the case any more, is it? -
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