[Ex-SD]

SoCal could easily get whacked 50-60% in SFH prices. It depends on how badly the economy performs / the resulting job losses / number of foreclosures / amount of available inventory / etc-yada yada yada.

That article is referring to the national home market and many cities did not have the ridiculous run-up in house prices that CA experienced.

I have a friend who bought a nice townhome in SD in 1997 for $180k. He could have easily sold it for $500k-$520k in early 2005 and I encouraged him to do so but he decided to wait. Today, it’s only worth around $360k and the value is falling every month. I would not be surprised to see his townhome (1800 sq ft / 2 car garage) drop all the way to $200k before things clear up, primarily due to the number of SFH / Condos / Townhomes that will be on the market as more & more owners default on their loans.
Time will tell who is correct.

[Ex-SD]

SoCal could easily get whacked 50-60% in SFH prices. It depends on how badly the economy performs / the resulting job losses / number of foreclosures / amount of available inventory / etc-yada yada yada.

That article is referring to the national home market and many cities did not have the ridiculous run-up in house prices that CA experienced.

I have a friend who bought a nice townhome in SD in 1997 for $180k. He could have easily sold it for $500k-$520k in early 2005 and I encouraged him to do so but he decided to wait. Today, it’s only worth around $360k and the value is falling every month. I would not be surprised to see his townhome (1800 sq ft / 2 car garage) drop all the way to $200k before things clear up, primarily due to the number of SFH / Condos / Townhomes that will be on the market as more & more owners default on their loans.
Time will tell who is correct.

[Ex-SD]

SoCal could easily get whacked 50-60% in SFH prices. It depends on how badly the economy performs / the resulting job losses / number of foreclosures / amount of available inventory / etc-yada yada yada.

That article is referring to the national home market and many cities did not have the ridiculous run-up in house prices that CA experienced.

I have a friend who bought a nice townhome in SD in 1997 for $180k. He could have easily sold it for $500k-$520k in early 2005 and I encouraged him to do so but he decided to wait. Today, it’s only worth around $360k and the value is falling every month. I would not be surprised to see his townhome (1800 sq ft / 2 car garage) drop all the way to $200k before things clear up, primarily due to the number of SFH / Condos / Townhomes that will be on the market as more & more owners default on their loans.
Time will tell who is correct.

[Ex-SD]

SoCal could easily get whacked 50-60% in SFH prices. It depends on how badly the economy performs / the resulting job losses / number of foreclosures / amount of available inventory / etc-yada yada yada.

That article is referring to the national home market and many cities did not have the ridiculous run-up in house prices that CA experienced.

I have a friend who bought a nice townhome in SD in 1997 for $180k. He could have easily sold it for $500k-$520k in early 2005 and I encouraged him to do so but he decided to wait. Today, it’s only worth around $360k and the value is falling every month. I would not be surprised to see his townhome (1800 sq ft / 2 car garage) drop all the way to $200k before things clear up, primarily due to the number of SFH / Condos / Townhomes that will be on the market as more & more owners default on their loans.
Time will tell who is correct.

[Ex-SD]

SoCal could easily get whacked 50-60% in SFH prices. It depends on how badly the economy performs / the resulting job losses / number of foreclosures / amount of available inventory / etc-yada yada yada.

That article is referring to the national home market and many cities did not have the ridiculous run-up in house prices that CA experienced.

I have a friend who bought a nice townhome in SD in 1997 for $180k. He could have easily sold it for $500k-$520k in early 2005 and I encouraged him to do so but he decided to wait. Today, it’s only worth around $360k and the value is falling every month. I would not be surprised to see his townhome (1800 sq ft / 2 car garage) drop all the way to $200k before things clear up, primarily due to the number of SFH / Condos / Townhomes that will be on the market as more & more owners default on their loans.
Time will tell who is correct.

[Ex-SD]

Someone posted that chart in another thread several days ago.

Anybody who uses that information to make a buying decision for a home in SD/Orange County is going to be in for a rude awakening over the next 3-5 years, aren’t they?

[Ex-SD]

Someone posted that chart in another thread several days ago.

Anybody who uses that information to make a buying decision for a home in SD/Orange County is going to be in for a rude awakening over the next 3-5 years, aren’t they?

[Ex-SD]

Someone posted that chart in another thread several days ago.

Anybody who uses that information to make a buying decision for a home in SD/Orange County is going to be in for a rude awakening over the next 3-5 years, aren’t they?

[Ex-SD]

Someone posted that chart in another thread several days ago.

Anybody who uses that information to make a buying decision for a home in SD/Orange County is going to be in for a rude awakening over the next 3-5 years, aren’t they?

[Ex-SD]

Someone posted that chart in another thread several days ago.

Anybody who uses that information to make a buying decision for a home in SD/Orange County is going to be in for a rude awakening over the next 3-5 years, aren’t they?

[Ex-SD]

Trolling a thread? Throwing insults?
You ARE young (and thin skinned). The reality is that only around 3% of the population of SD can afford to buy a home there. Who’s going to buy all these homes? Incomes aren’t going to rise that much for Joe Six-pack any time soon for him/her to afford a home and now that people have to actually qualify to buy a home again, coupled with the growing inventory problem of REO’s and present / upcoming foreclosures………….Houston, we have a problem.
All of this has already started spilling over into other business’. I read the other day where Lowe’s and Home Depot are really suffering in their SoCal locations as well as Nevada and Arizona. It’s called “trickle down” and it’s also coming to a neighborhood near you. And yes…..more people have been pouring out of San Diego than coming in for the last 3 plus years. Rents will eventually start to fall and keep pace with falling house prices which are going to fall for another three to five years.
And the last I read, the state of CA already has projected a $16 billion dollar budget shorfall (and I’ll bet that number gets a whole lot larger). So, be ready for more (& more) taxes, fees, etc to fleece the corporations and individual taxpayers which will drive more business’ & residents out of CA. (I sold my two properties and left in 2005 after living there for over 30 years and I know more people who did the same thing).
My point to you was: Just because things are rosy today is no guarantee that they’re going to stay that way in San Diego. There’s too many present and upcoming economic problems for individuals and corporations to be complacent & comfortable at this time. The good news is that home prices are going to fall a lot further and if you have the resources, you will be able to buy a lot cheaper just by waiting.

[Ex-SD]

Trolling a thread? Throwing insults?
You ARE young (and thin skinned). The reality is that only around 3% of the population of SD can afford to buy a home there. Who’s going to buy all these homes? Incomes aren’t going to rise that much for Joe Six-pack any time soon for him/her to afford a home and now that people have to actually qualify to buy a home again, coupled with the growing inventory problem of REO’s and present / upcoming foreclosures………….Houston, we have a problem.
All of this has already started spilling over into other business’. I read the other day where Lowe’s and Home Depot are really suffering in their SoCal locations as well as Nevada and Arizona. It’s called “trickle down” and it’s also coming to a neighborhood near you. And yes…..more people have been pouring out of San Diego than coming in for the last 3 plus years. Rents will eventually start to fall and keep pace with falling house prices which are going to fall for another three to five years.
And the last I read, the state of CA already has projected a $16 billion dollar budget shorfall (and I’ll bet that number gets a whole lot larger). So, be ready for more (& more) taxes, fees, etc to fleece the corporations and individual taxpayers which will drive more business’ & residents out of CA. (I sold my two properties and left in 2005 after living there for over 30 years and I know more people who did the same thing).
My point to you was: Just because things are rosy today is no guarantee that they’re going to stay that way in San Diego. There’s too many present and upcoming economic problems for individuals and corporations to be complacent & comfortable at this time. The good news is that home prices are going to fall a lot further and if you have the resources, you will be able to buy a lot cheaper just by waiting.

[Ex-SD]

Trolling a thread? Throwing insults?
You ARE young (and thin skinned). The reality is that only around 3% of the population of SD can afford to buy a home there. Who’s going to buy all these homes? Incomes aren’t going to rise that much for Joe Six-pack any time soon for him/her to afford a home and now that people have to actually qualify to buy a home again, coupled with the growing inventory problem of REO’s and present / upcoming foreclosures………….Houston, we have a problem.
All of this has already started spilling over into other business’. I read the other day where Lowe’s and Home Depot are really suffering in their SoCal locations as well as Nevada and Arizona. It’s called “trickle down” and it’s also coming to a neighborhood near you. And yes…..more people have been pouring out of San Diego than coming in for the last 3 plus years. Rents will eventually start to fall and keep pace with falling house prices which are going to fall for another three to five years.
And the last I read, the state of CA already has projected a $16 billion dollar budget shorfall (and I’ll bet that number gets a whole lot larger). So, be ready for more (& more) taxes, fees, etc to fleece the corporations and individual taxpayers which will drive more business’ & residents out of CA. (I sold my two properties and left in 2005 after living there for over 30 years and I know more people who did the same thing).
My point to you was: Just because things are rosy today is no guarantee that they’re going to stay that way in San Diego. There’s too many present and upcoming economic problems for individuals and corporations to be complacent & comfortable at this time. The good news is that home prices are going to fall a lot further and if you have the resources, you will be able to buy a lot cheaper just by waiting.

[Ex-SD]

Trolling a thread? Throwing insults?
You ARE young (and thin skinned). The reality is that only around 3% of the population of SD can afford to buy a home there. Who’s going to buy all these homes? Incomes aren’t going to rise that much for Joe Six-pack any time soon for him/her to afford a home and now that people have to actually qualify to buy a home again, coupled with the growing inventory problem of REO’s and present / upcoming foreclosures………….Houston, we have a problem.
All of this has already started spilling over into other business’. I read the other day where Lowe’s and Home Depot are really suffering in their SoCal locations as well as Nevada and Arizona. It’s called “trickle down” and it’s also coming to a neighborhood near you. And yes…..more people have been pouring out of San Diego than coming in for the last 3 plus years. Rents will eventually start to fall and keep pace with falling house prices which are going to fall for another three to five years.
And the last I read, the state of CA already has projected a $16 billion dollar budget shorfall (and I’ll bet that number gets a whole lot larger). So, be ready for more (& more) taxes, fees, etc to fleece the corporations and individual taxpayers which will drive more business’ & residents out of CA. (I sold my two properties and left in 2005 after living there for over 30 years and I know more people who did the same thing).
My point to you was: Just because things are rosy today is no guarantee that they’re going to stay that way in San Diego. There’s too many present and upcoming economic problems for individuals and corporations to be complacent & comfortable at this time. The good news is that home prices are going to fall a lot further and if you have the resources, you will be able to buy a lot cheaper just by waiting.

[Ex-SD]

Trolling a thread? Throwing insults?
You ARE young (and thin skinned). The reality is that only around 3% of the population of SD can afford to buy a home there. Who’s going to buy all these homes? Incomes aren’t going to rise that much for Joe Six-pack any time soon for him/her to afford a home and now that people have to actually qualify to buy a home again, coupled with the growing inventory problem of REO’s and present / upcoming foreclosures………….Houston, we have a problem.
All of this has already started spilling over into other business’. I read the other day where Lowe’s and Home Depot are really suffering in their SoCal locations as well as Nevada and Arizona. It’s called “trickle down” and it’s also coming to a neighborhood near you. And yes…..more people have been pouring out of San Diego than coming in for the last 3 plus years. Rents will eventually start to fall and keep pace with falling house prices which are going to fall for another three to five years.
And the last I read, the state of CA already has projected a $16 billion dollar budget shorfall (and I’ll bet that number gets a whole lot larger). So, be ready for more (& more) taxes, fees, etc to fleece the corporations and individual taxpayers which will drive more business’ & residents out of CA. (I sold my two properties and left in 2005 after living there for over 30 years and I know more people who did the same thing).
My point to you was: Just because things are rosy today is no guarantee that they’re going to stay that way in San Diego. There’s too many present and upcoming economic problems for individuals and corporations to be complacent & comfortable at this time. The good news is that home prices are going to fall a lot further and if you have the resources, you will be able to buy a lot cheaper just by waiting.

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