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Ex-SD
ParticipantIMHO: It’s nowhere near the bottom yet. There’s way too much inventory and a lack of buyers at the present prices considering the new loan rules and rates. Then, we have the looming problem of ARM loans that will reset over the next couple of years and the impending foreclosures that will result from owners who won’t be able to make the new, higher payment. Be happy that you’re renting and not going to take a huge haircut. Give it at least two years (I’m guessing 3 1/2 to 4 years to hit the bottom).
Here’s some statistics:
Tracking San Diego County, California
Population 2006: 3.07 million
1/01/2006 Listing per population ratio 1:220
7/31/2006 Listing per population ratio 1:131
San Diego County
…………..Inventory (Sales)………………….(Sales)
01/2006: 16,161 (2,898)___01/2005: (3,324)
02/2006: 17,262 (3,035)___02/2005: (3,442)
03/2006: 18,261 (4,367)___03/2005: (5,018)
04/2006: 19,480 (3,974)___04/2005: (5,345)
05/2006: 21,175 (4,480)___05/2005: (5,141)
06/2006: 22,588 (4,533)___06/2005: (5,663)
07/2006: 23,385 (3,370)___07/2005: 14,176 (4,765)
08/2006: 23,381 (3,666)___08/2005: 15,240 (5,379)
09/2006: 22,710 (3,207)___09/2005: 16,081 (4,935)
10/2006: 21,692 (3,282)___10/2005: 16,490 (4,155)
11/2006: 19,831 (2,987)___11/2005: 16,072 (3,937)
12/2006: 17,223 (3,613)___12/2005: 14,591 (4,262)Population 2007: 3.10 million
1/01/2007 Listing per population ratio 1:191
6/10/2007 Listing per population ratio 1:144……….Inventory (Sales)…………………Inventory (Sales)
01/01: 16,260
01/31: 17,109 (2,772)___01/2006: 16,161 (2,898)
02/28: 17,544 (2,863)___02/2006: 17,262 (3,035)
03/31: 18,638 (3,218)___03/2006: 18,261 (4,367)
04/30: 20,122 (3,436)___04/2006: 19,480 (3,974)
05/31: 21,169 (3,385)___05/2006: 21,175 (4,480)
06/30: 22,268 (3,510)___06/2006: 22,588 (4,533)
07/31: 22,551
08/10: 22,636
08/20: 23,006All-time Record high inventory: 23,385 homes, July 2006.
All-time low inventory: 2,301 homes, March 2004.
Previous Record high inventory: 19,250 homes, July 1995.
North County Times 4/12/06Population 1995: 2.66 million
Listing per population ratio 7/1995: 1:138
Population adjusted record high inventory: 22,174 homes.-ziprealty resale inventory includes SFR/Condo/MFR/Land Parcels
-(sales figure) includes new and resale homes from DataQuickNewsParticipantThere is a video link on MSNBC to an interview with Mozilo where he is talking about the effect of all of these problems on homeowners and he says: “equity is gone……….the tide is out”. He believes that this crisis is going to push the entire country into a recession and he damned well may be correct.
ParticipantThere is a video link on MSNBC to an interview with Mozilo where he is talking about the effect of all of these problems on homeowners and he says: “equity is gone……….the tide is out”. He believes that this crisis is going to push the entire country into a recession and he damned well may be correct.
ParticipantThere is a video link on MSNBC to an interview with Mozilo where he is talking about the effect of all of these problems on homeowners and he says: “equity is gone……….the tide is out”. He believes that this crisis is going to push the entire country into a recession and he damned well may be correct.
ParticipantAlex_angel is delusional when he says that everybody wants to live in San Diego. I’m originally from South Carolina but I moved to San Diego and lived there for thirty years. I saw the crash coming and sold my home in the spring of 2005 and moved back to SC. Now, I love SD and will move back if prices drop as much as I think they will. I can tell you that 99% of the people that I have come in contact with since moving back here would never consider living anywhere in CA. I used to encounter this same mindset from people I would talk with when I would travel on business around the USA for 30 years. Sure, many of them will vacation in SoCal but live there? No way! So Alex, unless you’ve talked to an entirely different group of people that I encountered over a 30+ year period in most of the USA, I’d have to say that my data is much more correct than yours.
BTW: Ask any San Diegan if they would live in New York City, Tennessee or South Carolina (or many other cities or states) and the answer would likely be………NO WAY! So, it cuts both ways.
ParticipantAlex_angel is delusional when he says that everybody wants to live in San Diego. I’m originally from South Carolina but I moved to San Diego and lived there for thirty years. I saw the crash coming and sold my home in the spring of 2005 and moved back to SC. Now, I love SD and will move back if prices drop as much as I think they will. I can tell you that 99% of the people that I have come in contact with since moving back here would never consider living anywhere in CA. I used to encounter this same mindset from people I would talk with when I would travel on business around the USA for 30 years. Sure, many of them will vacation in SoCal but live there? No way! So Alex, unless you’ve talked to an entirely different group of people that I encountered over a 30+ year period in most of the USA, I’d have to say that my data is much more correct than yours.
BTW: Ask any San Diegan if they would live in New York City, Tennessee or South Carolina (or many other cities or states) and the answer would likely be………NO WAY! So, it cuts both ways.
ParticipantAlex_angel is delusional when he says that everybody wants to live in San Diego. I’m originally from South Carolina but I moved to San Diego and lived there for thirty years. I saw the crash coming and sold my home in the spring of 2005 and moved back to SC. Now, I love SD and will move back if prices drop as much as I think they will. I can tell you that 99% of the people that I have come in contact with since moving back here would never consider living anywhere in CA. I used to encounter this same mindset from people I would talk with when I would travel on business around the USA for 30 years. Sure, many of them will vacation in SoCal but live there? No way! So Alex, unless you’ve talked to an entirely different group of people that I encountered over a 30+ year period in most of the USA, I’d have to say that my data is much more correct than yours.
BTW: Ask any San Diegan if they would live in New York City, Tennessee or South Carolina (or many other cities or states) and the answer would likely be………NO WAY! So, it cuts both ways.
ParticipantMany times in life, history repeats itself. Alex, you’re either a troll…….or suffering from OCD or bi-polar……….or you just don’t want to admit what is happening right now in the housing market in bubble markets. There’s a lot of people on the east coast who wouldn’t live in CA if you paid them but they think that FL is a great place. I don’t happen to agree with them but nonetheless, it’s a fact. In Fort Myers Fl, a bunch of people bought new townhomes over the last couple of years for around $300-$320k. The builder got bullish and built out another 75+ because the others had sold so quickly. Then the same crunch that’s presently hitting CA, Las Vegas, Phoenix, Seattle and the Washington, DC metro area hit Fort Meyers. The builder had to make a choice between going broke or getting rid of the standing inventory………..he hired an auction company and brand new townhomes (the same models that sold for $300-$320k) sold at the auction for $145-$150k. There were a lot of very angry homeowners in attendance who purchased at the higher prices but there was nothing they could do about it. The point is, if it can happen in Fort Myers which is considered by many to be as wonderful as CA………it can happen in San Diego. There are already condos and SFR’s in SD selling at substantially lower prices than they were two years ago at the height of the latest housing boom. So don’t be too smug about your position on this matter………..there’s too many economic factors in favor of an opposing argument to yours.
ParticipantMany times in life, history repeats itself. Alex, you’re either a troll…….or suffering from OCD or bi-polar……….or you just don’t want to admit what is happening right now in the housing market in bubble markets. There’s a lot of people on the east coast who wouldn’t live in CA if you paid them but they think that FL is a great place. I don’t happen to agree with them but nonetheless, it’s a fact. In Fort Myers Fl, a bunch of people bought new townhomes over the last couple of years for around $300-$320k. The builder got bullish and built out another 75+ because the others had sold so quickly. Then the same crunch that’s presently hitting CA, Las Vegas, Phoenix, Seattle and the Washington, DC metro area hit Fort Meyers. The builder had to make a choice between going broke or getting rid of the standing inventory………..he hired an auction company and brand new townhomes (the same models that sold for $300-$320k) sold at the auction for $145-$150k. There were a lot of very angry homeowners in attendance who purchased at the higher prices but there was nothing they could do about it. The point is, if it can happen in Fort Myers which is considered by many to be as wonderful as CA………it can happen in San Diego. There are already condos and SFR’s in SD selling at substantially lower prices than they were two years ago at the height of the latest housing boom. So don’t be too smug about your position on this matter………..there’s too many economic factors in favor of an opposing argument to yours.
ParticipantMany times in life, history repeats itself. Alex, you’re either a troll…….or suffering from OCD or bi-polar……….or you just don’t want to admit what is happening right now in the housing market in bubble markets. There’s a lot of people on the east coast who wouldn’t live in CA if you paid them but they think that FL is a great place. I don’t happen to agree with them but nonetheless, it’s a fact. In Fort Myers Fl, a bunch of people bought new townhomes over the last couple of years for around $300-$320k. The builder got bullish and built out another 75+ because the others had sold so quickly. Then the same crunch that’s presently hitting CA, Las Vegas, Phoenix, Seattle and the Washington, DC metro area hit Fort Meyers. The builder had to make a choice between going broke or getting rid of the standing inventory………..he hired an auction company and brand new townhomes (the same models that sold for $300-$320k) sold at the auction for $145-$150k. There were a lot of very angry homeowners in attendance who purchased at the higher prices but there was nothing they could do about it. The point is, if it can happen in Fort Myers which is considered by many to be as wonderful as CA………it can happen in San Diego. There are already condos and SFR’s in SD selling at substantially lower prices than they were two years ago at the height of the latest housing boom. So don’t be too smug about your position on this matter………..there’s too many economic factors in favor of an opposing argument to yours.
ParticipantAbsolute foolishness! The market needs to seek it’s own limits….top & bottom.
ParticipantAbsolute foolishness! The market needs to seek it’s own limits….top & bottom.
ParticipantAbsolute foolishness! The market needs to seek it’s own limits….top & bottom.
ParticipantSenator Dodd is one of the biggest cuckoo’s that nest in the Senate. He is consistently for causes that are wacky and cost big $$$$$$$ to the taxpayers. He has long been associated with lobbyists from the big, Wall Street brokerage houses so that is why he is pushing this idea. Unfortunately, he is not alone with his looney-ness and if his wacky ideas get a foothold, they just might pass. But………there is still the VETO power of the Presidency so let’s hope that Bush stick to his guns about no bailouts for the housing market.
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