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(former)FormerSanDiegan
ParticipantNeeta – I agree that two years from now would be a good time to check back in, but perhaps we should review where we are today from the peak in San Diego.
According to Case-Shiller prices are off 7% from the peak in 2005. Add to that a couple years of inflation, and we are down about 12-13% in real $ from the peak.
Two more years of this (even without some acceleration) would be a significant drop.ParticipantNeeta – I agree that two years from now would be a good time to check back in, but perhaps we should review where we are today from the peak in San Diego.
According to Case-Shiller prices are off 7% from the peak in 2005. Add to that a couple years of inflation, and we are down about 12-13% in real $ from the peak.
Two more years of this (even without some acceleration) would be a significant drop.ParticipantAfter reviewing the evidence so craftfully presented, I have to agree with scruffydog. Nothing to see here, move along. No excess $ liquidity. Housing prices are within normal ranges. There is no bubble. Negative household and Government savings rates are sustainable …
… hurumph !, whut? Oops sorry, I was sleep-typing again. It was a great dream though. Back to it … ZZZZzzzzParticipantAfter reviewing the evidence so craftfully presented, I have to agree with scruffydog. Nothing to see here, move along. No excess $ liquidity. Housing prices are within normal ranges. There is no bubble. Negative household and Government savings rates are sustainable …
… hurumph !, whut? Oops sorry, I was sleep-typing again. It was a great dream though. Back to it … ZZZZzzzzParticipant“if you don’t like a particular thread or post, don’t read it! ”
But, how do I know I don’t like it before I read it 😉
Participant“if you don’t like a particular thread or post, don’t read it! ”
But, how do I know I don’t like it before I read it 😉
ParticipantNeighborhoods Considering:
Point Loma, Bay Park, West ClairemontCondo/House: SFRs
Price Range: 300-700 K … depends on rents, interest rates, and potential cash flow opportunities
Size Range: 1000-2000 sf.
Currently (Rent/Own): Own.
Shopping the Market?: No, just watching for future investment opportunities. I crunch numbers every 3-6 months from a landlord’s perspective. I suspect that I will be doing this for at least a couple years before getting serious again and pulling the trigger. I last purchased a SFR to rent out in SD in 2002. The numbers haven’t made sense since then. Hopefully someday they will again.
ParticipantNeighborhoods Considering:
Point Loma, Bay Park, West ClairemontCondo/House: SFRs
Price Range: 300-700 K … depends on rents, interest rates, and potential cash flow opportunities
Size Range: 1000-2000 sf.
Currently (Rent/Own): Own.
Shopping the Market?: No, just watching for future investment opportunities. I crunch numbers every 3-6 months from a landlord’s perspective. I suspect that I will be doing this for at least a couple years before getting serious again and pulling the trigger. I last purchased a SFR to rent out in SD in 2002. The numbers haven’t made sense since then. Hopefully someday they will again.
Participantstop_the_bubble_hype –
Be careful with new developments. Foreclosures are currently concentrated in two areas: 1. New developments and 2. Area with high rates of sub-prime borrowers.
New developments tend to get hit hard at this point in the RE cycle because by definition they include the most recent buyers, and also include a lot of speculative buying (flippers, etc). The sub-prime areas tend to be lower income and the reasons for those foreclosures should be obvious from the daily news.
If you want to be in a more stable community, I’d recommend older areas (but not too cheap because of sub-prime issues). Just an opinion from someone whose owned 3 homes in SD (still have one).Participantstop_the_bubble_hype –
Be careful with new developments. Foreclosures are currently concentrated in two areas: 1. New developments and 2. Area with high rates of sub-prime borrowers.
New developments tend to get hit hard at this point in the RE cycle because by definition they include the most recent buyers, and also include a lot of speculative buying (flippers, etc). The sub-prime areas tend to be lower income and the reasons for those foreclosures should be obvious from the daily news.
If you want to be in a more stable community, I’d recommend older areas (but not too cheap because of sub-prime issues). Just an opinion from someone whose owned 3 homes in SD (still have one).ParticipantScruffy, where did you go?
Since scruffy knows that housing is doing great (well except for that record number of NODs and NOTs and that decade low in sales, and other stuff like that) scruffy must be out making real estate deals and getting rich. No time to play with the bears.
ParticipantScruffy, where did you go?
Since scruffy knows that housing is doing great (well except for that record number of NODs and NOTs and that decade low in sales, and other stuff like that) scruffy must be out making real estate deals and getting rich. No time to play with the bears.
Participant“You don’t see people complaining about land owners in Manhattan, do you?”
Who was complaining about land owners ?
Participant“You don’t see people complaining about land owners in Manhattan, do you?”
Who was complaining about land owners ?
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