[joec]

I think I’ve read this before, but isn’t debt forgiveness only applied on the federal tax code and not state/California taxes?

[joec]

I think I’ve read this before, but isn’t debt forgiveness only applied on the federal tax code and not state/California taxes?

[joec]

I think I’ve read this before, but isn’t debt forgiveness only applied on the federal tax code and not state/California taxes?

[joec]

[quote=CA renter][quote=SD Realtor]My belief is unchanged….that we will not see substantial price drops in San Diego until mortgage rates increase dramatically. We may see smaller price fluctuations and flatness as the market reaches a new yet manipulated equilibrium. However until our credit is disrupted by bond market distortions, it is happy times.[/quote]

We’re very much in agreement on this. Interest rates will play an important part in housing prices as we move forward.[/quote]

Agreed as well. Not really a CV area discussion, but your best bet maybe to save up a bit more for a bigger down and perhaps see if you can get into a SFH rather than a TH if that’s what you really want…

Since moving and buying is a pain and a large expense, you may want something you can be stuck in for a while if rates change or your situation changes (people who buy should look to stay put for 6-7 years+ anyways)…

That said, a good thing with buying is you can stop or slow down all the housing searches! A lot of pigg members have bought in the past 2 years I think and it’s incredibly nice to not have to worry about interest rates, visit open homes constantly, look through housing ads, track housing prices in the area you want to buy in, compete with other short sale buyers, etc…

The amount of time you get back is huge and you can spend time on family, hobbies, fun. 🙂

Good luck!

[joec]

[quote=CA renter][quote=SD Realtor]My belief is unchanged….that we will not see substantial price drops in San Diego until mortgage rates increase dramatically. We may see smaller price fluctuations and flatness as the market reaches a new yet manipulated equilibrium. However until our credit is disrupted by bond market distortions, it is happy times.[/quote]

We’re very much in agreement on this. Interest rates will play an important part in housing prices as we move forward.[/quote]

Agreed as well. Not really a CV area discussion, but your best bet maybe to save up a bit more for a bigger down and perhaps see if you can get into a SFH rather than a TH if that’s what you really want…

Since moving and buying is a pain and a large expense, you may want something you can be stuck in for a while if rates change or your situation changes (people who buy should look to stay put for 6-7 years+ anyways)…

That said, a good thing with buying is you can stop or slow down all the housing searches! A lot of pigg members have bought in the past 2 years I think and it’s incredibly nice to not have to worry about interest rates, visit open homes constantly, look through housing ads, track housing prices in the area you want to buy in, compete with other short sale buyers, etc…

The amount of time you get back is huge and you can spend time on family, hobbies, fun. 🙂

Good luck!

[joec]

[quote=CA renter][quote=SD Realtor]My belief is unchanged….that we will not see substantial price drops in San Diego until mortgage rates increase dramatically. We may see smaller price fluctuations and flatness as the market reaches a new yet manipulated equilibrium. However until our credit is disrupted by bond market distortions, it is happy times.[/quote]

We’re very much in agreement on this. Interest rates will play an important part in housing prices as we move forward.[/quote]

Agreed as well. Not really a CV area discussion, but your best bet maybe to save up a bit more for a bigger down and perhaps see if you can get into a SFH rather than a TH if that’s what you really want…

Since moving and buying is a pain and a large expense, you may want something you can be stuck in for a while if rates change or your situation changes (people who buy should look to stay put for 6-7 years+ anyways)…

That said, a good thing with buying is you can stop or slow down all the housing searches! A lot of pigg members have bought in the past 2 years I think and it’s incredibly nice to not have to worry about interest rates, visit open homes constantly, look through housing ads, track housing prices in the area you want to buy in, compete with other short sale buyers, etc…

The amount of time you get back is huge and you can spend time on family, hobbies, fun. 🙂

Good luck!

[joec]

[quote=CA renter][quote=SD Realtor]My belief is unchanged….that we will not see substantial price drops in San Diego until mortgage rates increase dramatically. We may see smaller price fluctuations and flatness as the market reaches a new yet manipulated equilibrium. However until our credit is disrupted by bond market distortions, it is happy times.[/quote]

We’re very much in agreement on this. Interest rates will play an important part in housing prices as we move forward.[/quote]

Agreed as well. Not really a CV area discussion, but your best bet maybe to save up a bit more for a bigger down and perhaps see if you can get into a SFH rather than a TH if that’s what you really want…

Since moving and buying is a pain and a large expense, you may want something you can be stuck in for a while if rates change or your situation changes (people who buy should look to stay put for 6-7 years+ anyways)…

That said, a good thing with buying is you can stop or slow down all the housing searches! A lot of pigg members have bought in the past 2 years I think and it’s incredibly nice to not have to worry about interest rates, visit open homes constantly, look through housing ads, track housing prices in the area you want to buy in, compete with other short sale buyers, etc…

The amount of time you get back is huge and you can spend time on family, hobbies, fun. 🙂

Good luck!

[joec]

[quote=CA renter][quote=SD Realtor]My belief is unchanged….that we will not see substantial price drops in San Diego until mortgage rates increase dramatically. We may see smaller price fluctuations and flatness as the market reaches a new yet manipulated equilibrium. However until our credit is disrupted by bond market distortions, it is happy times.[/quote]

We’re very much in agreement on this. Interest rates will play an important part in housing prices as we move forward.[/quote]

Agreed as well. Not really a CV area discussion, but your best bet maybe to save up a bit more for a bigger down and perhaps see if you can get into a SFH rather than a TH if that’s what you really want…

Since moving and buying is a pain and a large expense, you may want something you can be stuck in for a while if rates change or your situation changes (people who buy should look to stay put for 6-7 years+ anyways)…

That said, a good thing with buying is you can stop or slow down all the housing searches! A lot of pigg members have bought in the past 2 years I think and it’s incredibly nice to not have to worry about interest rates, visit open homes constantly, look through housing ads, track housing prices in the area you want to buy in, compete with other short sale buyers, etc…

The amount of time you get back is huge and you can spend time on family, hobbies, fun. 🙂

Good luck!

[joec]

I don’t have much experience with rentals, but I’ve read that Texas was not good for some folks since property taxes are much higher and could be raised at anytime. I don’t know where properties in CA are sitting in terms of cash flowing now with the crash, but prop 13 helps a ton over the long term since the government can’t raise your property taxes to insane levels suddenly.

They can try to change the laws, but there are probably too many home owning voters in CA that something like that will ever pass I don’t think.

[joec]

I don’t have much experience with rentals, but I’ve read that Texas was not good for some folks since property taxes are much higher and could be raised at anytime. I don’t know where properties in CA are sitting in terms of cash flowing now with the crash, but prop 13 helps a ton over the long term since the government can’t raise your property taxes to insane levels suddenly.

They can try to change the laws, but there are probably too many home owning voters in CA that something like that will ever pass I don’t think.

[joec]

I don’t have much experience with rentals, but I’ve read that Texas was not good for some folks since property taxes are much higher and could be raised at anytime. I don’t know where properties in CA are sitting in terms of cash flowing now with the crash, but prop 13 helps a ton over the long term since the government can’t raise your property taxes to insane levels suddenly.

They can try to change the laws, but there are probably too many home owning voters in CA that something like that will ever pass I don’t think.

[joec]

I don’t have much experience with rentals, but I’ve read that Texas was not good for some folks since property taxes are much higher and could be raised at anytime. I don’t know where properties in CA are sitting in terms of cash flowing now with the crash, but prop 13 helps a ton over the long term since the government can’t raise your property taxes to insane levels suddenly.

They can try to change the laws, but there are probably too many home owning voters in CA that something like that will ever pass I don’t think.

[joec]

I don’t have much experience with rentals, but I’ve read that Texas was not good for some folks since property taxes are much higher and could be raised at anytime. I don’t know where properties in CA are sitting in terms of cash flowing now with the crash, but prop 13 helps a ton over the long term since the government can’t raise your property taxes to insane levels suddenly.

They can try to change the laws, but there are probably too many home owning voters in CA that something like that will ever pass I don’t think.

[joec]

The main problem with governments picking winners and losers is the game isn’t fair already. As you’ve probably seen, T. Boone Pickens has invested insanely in things such as wind power and has been buying up wind farms, technologies, lobbying/influencing governments to force them to use more wind, etc…by passing laws.

I don’t think helping a multi-billionaire with stimulus that he is lobbying and banking on to make himself even more wealthy sounds right.

It’s one thing for the Tesla CEO to use his own funds and near bankrupt himself to do something new, but some billionaire trying to buy up something, then influence our governments to pass laws and stimulus for just 1 sector isn’t a good thing.

The main point is that a lot of this is extremely complex and there is no black/white answer.

[joec]

The main problem with governments picking winners and losers is the game isn’t fair already. As you’ve probably seen, T. Boone Pickens has invested insanely in things such as wind power and has been buying up wind farms, technologies, lobbying/influencing governments to force them to use more wind, etc…by passing laws.

I don’t think helping a multi-billionaire with stimulus that he is lobbying and banking on to make himself even more wealthy sounds right.

It’s one thing for the Tesla CEO to use his own funds and near bankrupt himself to do something new, but some billionaire trying to buy up something, then influence our governments to pass laws and stimulus for just 1 sector isn’t a good thing.

The main point is that a lot of this is extremely complex and there is no black/white answer.

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