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Ex-SD
ParticipantI based the correlation between the two markets on the predictions from several magazines and other printed sources that San Diego housing prices will fall 20% – 25% in 2009. Since L.A. home prices are continuing to drop and rents are dropping there and the predictions about SD are correct, housing sales will increase in San Diego, forcing landlords to compete with a lower cost of ownership vs renting. Unless San Diego sees a huge population increase that eats up vacant rentals that will occur from increased home sale, it is likely that rents will begin to drop. How much, I don’t have a clue but this scenario is a sure fire method to ignite a decrease in the rental market.
ParticipantI based the correlation between the two markets on the predictions from several magazines and other printed sources that San Diego housing prices will fall 20% – 25% in 2009. Since L.A. home prices are continuing to drop and rents are dropping there and the predictions about SD are correct, housing sales will increase in San Diego, forcing landlords to compete with a lower cost of ownership vs renting. Unless San Diego sees a huge population increase that eats up vacant rentals that will occur from increased home sale, it is likely that rents will begin to drop. How much, I don’t have a clue but this scenario is a sure fire method to ignite a decrease in the rental market.
ParticipantI based the correlation between the two markets on the predictions from several magazines and other printed sources that San Diego housing prices will fall 20% – 25% in 2009. Since L.A. home prices are continuing to drop and rents are dropping there and the predictions about SD are correct, housing sales will increase in San Diego, forcing landlords to compete with a lower cost of ownership vs renting. Unless San Diego sees a huge population increase that eats up vacant rentals that will occur from increased home sale, it is likely that rents will begin to drop. How much, I don’t have a clue but this scenario is a sure fire method to ignite a decrease in the rental market.
ParticipantI based the correlation between the two markets on the predictions from several magazines and other printed sources that San Diego housing prices will fall 20% – 25% in 2009. Since L.A. home prices are continuing to drop and rents are dropping there and the predictions about SD are correct, housing sales will increase in San Diego, forcing landlords to compete with a lower cost of ownership vs renting. Unless San Diego sees a huge population increase that eats up vacant rentals that will occur from increased home sale, it is likely that rents will begin to drop. How much, I don’t have a clue but this scenario is a sure fire method to ignite a decrease in the rental market.
ParticipantYeah, but no one has to live in those extreme weather conditions. I lived in SD for 30 years but gave it up to move to South Carolina to ride out the economic storm. Although it’s not San Diego, our temperatures are reasonably comfortable most of the year (only July & August are not comfortable to me) since we live at the foot of the mountains about 50 miles below Asheville, NC.
During the 30 years that I lived in San Diego, I never stood in one of those lines but I knew more than a handful of people who did. Never understood it then and I really don’t understand the desire to buy in San Diego in the present economic climate. To each his/her own.ParticipantYeah, but no one has to live in those extreme weather conditions. I lived in SD for 30 years but gave it up to move to South Carolina to ride out the economic storm. Although it’s not San Diego, our temperatures are reasonably comfortable most of the year (only July & August are not comfortable to me) since we live at the foot of the mountains about 50 miles below Asheville, NC.
During the 30 years that I lived in San Diego, I never stood in one of those lines but I knew more than a handful of people who did. Never understood it then and I really don’t understand the desire to buy in San Diego in the present economic climate. To each his/her own.ParticipantYeah, but no one has to live in those extreme weather conditions. I lived in SD for 30 years but gave it up to move to South Carolina to ride out the economic storm. Although it’s not San Diego, our temperatures are reasonably comfortable most of the year (only July & August are not comfortable to me) since we live at the foot of the mountains about 50 miles below Asheville, NC.
During the 30 years that I lived in San Diego, I never stood in one of those lines but I knew more than a handful of people who did. Never understood it then and I really don’t understand the desire to buy in San Diego in the present economic climate. To each his/her own.ParticipantYeah, but no one has to live in those extreme weather conditions. I lived in SD for 30 years but gave it up to move to South Carolina to ride out the economic storm. Although it’s not San Diego, our temperatures are reasonably comfortable most of the year (only July & August are not comfortable to me) since we live at the foot of the mountains about 50 miles below Asheville, NC.
During the 30 years that I lived in San Diego, I never stood in one of those lines but I knew more than a handful of people who did. Never understood it then and I really don’t understand the desire to buy in San Diego in the present economic climate. To each his/her own.ParticipantYeah, but no one has to live in those extreme weather conditions. I lived in SD for 30 years but gave it up to move to South Carolina to ride out the economic storm. Although it’s not San Diego, our temperatures are reasonably comfortable most of the year (only July & August are not comfortable to me) since we live at the foot of the mountains about 50 miles below Asheville, NC.
During the 30 years that I lived in San Diego, I never stood in one of those lines but I knew more than a handful of people who did. Never understood it then and I really don’t understand the desire to buy in San Diego in the present economic climate. To each his/her own.ParticipantCapeman…………………..Great post! Well said.
Since the 70’s (and maybe before), there has been this “California thing” of rushing to buy before the other guy beats you to the deal, Primarily in CA and rarely in any other part of the entire USA would you see people camp out to pay for ridiculously priced, tract homes, In fact, most people in the country have laughed at Californians when they would show footage of people camping out and standing in long lines. Like I said, it’s primarily a CA thing. Now that prices have dropped substantially, the old greed & fear factor of beating the other guy is once again, rearing it’s head among otherwise, rational people. All anyone has to do is watch the news on tv, read the newspapers and major internet sites to realize that the economy is going to take an even greater hit over the next year-plus. Just look at what has happened in the Temecula-Riverside areas. They’re simply ahead of the curve and even if prices don’t drop as far as they have in those areas, anybody who can read or hear damned well knows that San Diego real estate prices are going to drop this year. Whether they drop 10% or 30%, you’re playing with fire and you’ll be paying back the excess money plus interest and higher taxes for a long, long time.
It’s obvious to me that some are simply tired of waiting and they’re making an emotional decision rather than a rational one.
Hey, I’m not knocking those people but it sure is interesting to watch the behavior of these potential buyers, rationalizing their purchase of a home in such turbulent, economic times. It’s their money and more power to them. Good luck to those of you who have recently jumped in and also to those who are going to do so this year.ParticipantCapeman…………………..Great post! Well said.
Since the 70’s (and maybe before), there has been this “California thing” of rushing to buy before the other guy beats you to the deal, Primarily in CA and rarely in any other part of the entire USA would you see people camp out to pay for ridiculously priced, tract homes, In fact, most people in the country have laughed at Californians when they would show footage of people camping out and standing in long lines. Like I said, it’s primarily a CA thing. Now that prices have dropped substantially, the old greed & fear factor of beating the other guy is once again, rearing it’s head among otherwise, rational people. All anyone has to do is watch the news on tv, read the newspapers and major internet sites to realize that the economy is going to take an even greater hit over the next year-plus. Just look at what has happened in the Temecula-Riverside areas. They’re simply ahead of the curve and even if prices don’t drop as far as they have in those areas, anybody who can read or hear damned well knows that San Diego real estate prices are going to drop this year. Whether they drop 10% or 30%, you’re playing with fire and you’ll be paying back the excess money plus interest and higher taxes for a long, long time.
It’s obvious to me that some are simply tired of waiting and they’re making an emotional decision rather than a rational one.
Hey, I’m not knocking those people but it sure is interesting to watch the behavior of these potential buyers, rationalizing their purchase of a home in such turbulent, economic times. It’s their money and more power to them. Good luck to those of you who have recently jumped in and also to those who are going to do so this year.ParticipantCapeman…………………..Great post! Well said.
Since the 70’s (and maybe before), there has been this “California thing” of rushing to buy before the other guy beats you to the deal, Primarily in CA and rarely in any other part of the entire USA would you see people camp out to pay for ridiculously priced, tract homes, In fact, most people in the country have laughed at Californians when they would show footage of people camping out and standing in long lines. Like I said, it’s primarily a CA thing. Now that prices have dropped substantially, the old greed & fear factor of beating the other guy is once again, rearing it’s head among otherwise, rational people. All anyone has to do is watch the news on tv, read the newspapers and major internet sites to realize that the economy is going to take an even greater hit over the next year-plus. Just look at what has happened in the Temecula-Riverside areas. They’re simply ahead of the curve and even if prices don’t drop as far as they have in those areas, anybody who can read or hear damned well knows that San Diego real estate prices are going to drop this year. Whether they drop 10% or 30%, you’re playing with fire and you’ll be paying back the excess money plus interest and higher taxes for a long, long time.
It’s obvious to me that some are simply tired of waiting and they’re making an emotional decision rather than a rational one.
Hey, I’m not knocking those people but it sure is interesting to watch the behavior of these potential buyers, rationalizing their purchase of a home in such turbulent, economic times. It’s their money and more power to them. Good luck to those of you who have recently jumped in and also to those who are going to do so this year.ParticipantCapeman…………………..Great post! Well said.
Since the 70’s (and maybe before), there has been this “California thing” of rushing to buy before the other guy beats you to the deal, Primarily in CA and rarely in any other part of the entire USA would you see people camp out to pay for ridiculously priced, tract homes, In fact, most people in the country have laughed at Californians when they would show footage of people camping out and standing in long lines. Like I said, it’s primarily a CA thing. Now that prices have dropped substantially, the old greed & fear factor of beating the other guy is once again, rearing it’s head among otherwise, rational people. All anyone has to do is watch the news on tv, read the newspapers and major internet sites to realize that the economy is going to take an even greater hit over the next year-plus. Just look at what has happened in the Temecula-Riverside areas. They’re simply ahead of the curve and even if prices don’t drop as far as they have in those areas, anybody who can read or hear damned well knows that San Diego real estate prices are going to drop this year. Whether they drop 10% or 30%, you’re playing with fire and you’ll be paying back the excess money plus interest and higher taxes for a long, long time.
It’s obvious to me that some are simply tired of waiting and they’re making an emotional decision rather than a rational one.
Hey, I’m not knocking those people but it sure is interesting to watch the behavior of these potential buyers, rationalizing their purchase of a home in such turbulent, economic times. It’s their money and more power to them. Good luck to those of you who have recently jumped in and also to those who are going to do so this year.ParticipantCapeman…………………..Great post! Well said.
Since the 70’s (and maybe before), there has been this “California thing” of rushing to buy before the other guy beats you to the deal, Primarily in CA and rarely in any other part of the entire USA would you see people camp out to pay for ridiculously priced, tract homes, In fact, most people in the country have laughed at Californians when they would show footage of people camping out and standing in long lines. Like I said, it’s primarily a CA thing. Now that prices have dropped substantially, the old greed & fear factor of beating the other guy is once again, rearing it’s head among otherwise, rational people. All anyone has to do is watch the news on tv, read the newspapers and major internet sites to realize that the economy is going to take an even greater hit over the next year-plus. Just look at what has happened in the Temecula-Riverside areas. They’re simply ahead of the curve and even if prices don’t drop as far as they have in those areas, anybody who can read or hear damned well knows that San Diego real estate prices are going to drop this year. Whether they drop 10% or 30%, you’re playing with fire and you’ll be paying back the excess money plus interest and higher taxes for a long, long time.
It’s obvious to me that some are simply tired of waiting and they’re making an emotional decision rather than a rational one.
Hey, I’m not knocking those people but it sure is interesting to watch the behavior of these potential buyers, rationalizing their purchase of a home in such turbulent, economic times. It’s their money and more power to them. Good luck to those of you who have recently jumped in and also to those who are going to do so this year. -
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