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August 18, 2008 at 5:40 PM in reply to: Peter Schiff: Housing prices will go back to 2000 or lower… #258797August 18, 2008 at 5:40 PM in reply to: Peter Schiff: Housing prices will go back to 2000 or lower… #258839
(former)FormerSanDiegan
ParticipantCA renter – You certainly timed it well.
The vast majority of your gain is attributable to holding between 2001 and 2004, demonstrating DaCounselor’s point.ParticipantRus, hope your buddy has balls o’ steel. If so, he’ll probably make a killing. Personally I’m already half-a-nut short, so I think I’ll stay away from this one.
ParticipantRus, hope your buddy has balls o’ steel. If so, he’ll probably make a killing. Personally I’m already half-a-nut short, so I think I’ll stay away from this one.
ParticipantRus, hope your buddy has balls o’ steel. If so, he’ll probably make a killing. Personally I’m already half-a-nut short, so I think I’ll stay away from this one.
ParticipantRus, hope your buddy has balls o’ steel. If so, he’ll probably make a killing. Personally I’m already half-a-nut short, so I think I’ll stay away from this one.
ParticipantRus, hope your buddy has balls o’ steel. If so, he’ll probably make a killing. Personally I’m already half-a-nut short, so I think I’ll stay away from this one.
August 18, 2008 at 3:26 PM in reply to: Peter Schiff: Housing prices will go back to 2000 or lower… #258507ParticipantFWIW, I sold our first house in Clairemont (nicer part … Mount Streets) at 2001 prices.
It sold for under $280K in 2001.At current rental rates, I’m guessing the current owner is ahead by about $500 per month vs renting.
August 18, 2008 at 3:26 PM in reply to: Peter Schiff: Housing prices will go back to 2000 or lower… #258695ParticipantFWIW, I sold our first house in Clairemont (nicer part … Mount Streets) at 2001 prices.
It sold for under $280K in 2001.At current rental rates, I’m guessing the current owner is ahead by about $500 per month vs renting.
August 18, 2008 at 3:26 PM in reply to: Peter Schiff: Housing prices will go back to 2000 or lower… #258708ParticipantFWIW, I sold our first house in Clairemont (nicer part … Mount Streets) at 2001 prices.
It sold for under $280K in 2001.At current rental rates, I’m guessing the current owner is ahead by about $500 per month vs renting.
August 18, 2008 at 3:26 PM in reply to: Peter Schiff: Housing prices will go back to 2000 or lower… #258757ParticipantFWIW, I sold our first house in Clairemont (nicer part … Mount Streets) at 2001 prices.
It sold for under $280K in 2001.At current rental rates, I’m guessing the current owner is ahead by about $500 per month vs renting.
August 18, 2008 at 3:26 PM in reply to: Peter Schiff: Housing prices will go back to 2000 or lower… #258799ParticipantFWIW, I sold our first house in Clairemont (nicer part … Mount Streets) at 2001 prices.
It sold for under $280K in 2001.At current rental rates, I’m guessing the current owner is ahead by about $500 per month vs renting.
August 18, 2008 at 3:14 PM in reply to: Peter Schiff: Housing prices will go back to 2000 or lower… #258492Participant[quote=kewp]Again (and I promise, for the last time), that person could if they so desired list that house for below current comps, sell it quick and walk away with a pile of money.
How many of these folks you think it will take to lower the comps to ’01 levels everywhere? Not many at the rate things are currently going.
[/quote]Whether they sell or not is irrelevant. Folks who bought in 2001 (or even 2002 for that matter) or before with decent mortgage terms and no equity extraction can easily rent their property out for positive cash flow (at least in the central SD areas I follow). These folks could eventually own their property, primarily at the expense of renters.
August 18, 2008 at 3:14 PM in reply to: Peter Schiff: Housing prices will go back to 2000 or lower… #258681Participant[quote=kewp]Again (and I promise, for the last time), that person could if they so desired list that house for below current comps, sell it quick and walk away with a pile of money.
How many of these folks you think it will take to lower the comps to ’01 levels everywhere? Not many at the rate things are currently going.
[/quote]Whether they sell or not is irrelevant. Folks who bought in 2001 (or even 2002 for that matter) or before with decent mortgage terms and no equity extraction can easily rent their property out for positive cash flow (at least in the central SD areas I follow). These folks could eventually own their property, primarily at the expense of renters.
August 18, 2008 at 3:14 PM in reply to: Peter Schiff: Housing prices will go back to 2000 or lower… #258693Participant[quote=kewp]Again (and I promise, for the last time), that person could if they so desired list that house for below current comps, sell it quick and walk away with a pile of money.
How many of these folks you think it will take to lower the comps to ’01 levels everywhere? Not many at the rate things are currently going.
[/quote]Whether they sell or not is irrelevant. Folks who bought in 2001 (or even 2002 for that matter) or before with decent mortgage terms and no equity extraction can easily rent their property out for positive cash flow (at least in the central SD areas I follow). These folks could eventually own their property, primarily at the expense of renters.
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