[jpinpb]

I would just like to add that it wasn’t merely the low interest rates which caused the housing price to increase. I believe it is the direct correlation between the low monthly payment on the teaser rate that allowed people to buy more expensive homes they otherwise would not

The price increase is tied directly to the low teaser monthly payment. Some of those initial teaser rates allowed the mortgage payment to be just slightly higher than what rents would be.

All shortsighted, of course. No one thought about when the rate adjusted, or cared. They were going to flip or take money out or whatever.

There will be more people in the rental market as they get evicted from their foreclosed homes. Therefore, the vacancies will be low. I think the rents will increase because of the mere demand. Predatory renting, so to speak. People will stretch their budget for a while. But ultimately, it can only go so high compared to incomes.

My two cents.

[jpinpb]

I would just like to add that it wasn’t merely the low interest rates which caused the housing price to increase. I believe it is the direct correlation between the low monthly payment on the teaser rate that allowed people to buy more expensive homes they otherwise would not

The price increase is tied directly to the low teaser monthly payment. Some of those initial teaser rates allowed the mortgage payment to be just slightly higher than what rents would be.

All shortsighted, of course. No one thought about when the rate adjusted, or cared. They were going to flip or take money out or whatever.

There will be more people in the rental market as they get evicted from their foreclosed homes. Therefore, the vacancies will be low. I think the rents will increase because of the mere demand. Predatory renting, so to speak. People will stretch their budget for a while. But ultimately, it can only go so high compared to incomes.

My two cents.

[jpinpb]

I would just like to add that it wasn’t merely the low interest rates which caused the housing price to increase. I believe it is the direct correlation between the low monthly payment on the teaser rate that allowed people to buy more expensive homes they otherwise would not

The price increase is tied directly to the low teaser monthly payment. Some of those initial teaser rates allowed the mortgage payment to be just slightly higher than what rents would be.

All shortsighted, of course. No one thought about when the rate adjusted, or cared. They were going to flip or take money out or whatever.

There will be more people in the rental market as they get evicted from their foreclosed homes. Therefore, the vacancies will be low. I think the rents will increase because of the mere demand. Predatory renting, so to speak. People will stretch their budget for a while. But ultimately, it can only go so high compared to incomes.

My two cents.

[jpinpb]

Thanks for the info. I couldn’t figure out what the deal was in delaying until August. I know someone on that street and I didn’t think there were tenants there. But what you said makes sense. But, then begs the question. Why refinance and pay points, whatever, if you’re going to sell in less than a year. Doubt he’s pulling cash out and he’s selling it for about what he bought it for in 2004. Strange. He probably would have gotten more if he sold it last year. Hindsight is a beautiful thing.

[jpinpb]

Thanks for the info. I couldn’t figure out what the deal was in delaying until August. I know someone on that street and I didn’t think there were tenants there. But what you said makes sense. But, then begs the question. Why refinance and pay points, whatever, if you’re going to sell in less than a year. Doubt he’s pulling cash out and he’s selling it for about what he bought it for in 2004. Strange. He probably would have gotten more if he sold it last year. Hindsight is a beautiful thing.

[jpinpb]

Thanks for the info. I couldn’t figure out what the deal was in delaying until August. I know someone on that street and I didn’t think there were tenants there. But what you said makes sense. But, then begs the question. Why refinance and pay points, whatever, if you’re going to sell in less than a year. Doubt he’s pulling cash out and he’s selling it for about what he bought it for in 2004. Strange. He probably would have gotten more if he sold it last year. Hindsight is a beautiful thing.

[jpinpb]

Thanks for the info. I couldn’t figure out what the deal was in delaying until August. I know someone on that street and I didn’t think there were tenants there. But what you said makes sense. But, then begs the question. Why refinance and pay points, whatever, if you’re going to sell in less than a year. Doubt he’s pulling cash out and he’s selling it for about what he bought it for in 2004. Strange. He probably would have gotten more if he sold it last year. Hindsight is a beautiful thing.

[jpinpb]

Thanks for the info. I couldn’t figure out what the deal was in delaying until August. I know someone on that street and I didn’t think there were tenants there. But what you said makes sense. But, then begs the question. Why refinance and pay points, whatever, if you’re going to sell in less than a year. Doubt he’s pulling cash out and he’s selling it for about what he bought it for in 2004. Strange. He probably would have gotten more if he sold it last year. Hindsight is a beautiful thing.

[jpinpb]

Your realtor said end of 2008? What a bear. My realtor said “Now’s the time to buy” 😉

[jpinpb]

Your realtor said end of 2008? What a bear. My realtor said “Now’s the time to buy” 😉

[jpinpb]

Your realtor said end of 2008? What a bear. My realtor said “Now’s the time to buy” 😉

[jpinpb]

Your realtor said end of 2008? What a bear. My realtor said “Now’s the time to buy” 😉

[jpinpb]

Your realtor said end of 2008? What a bear. My realtor said “Now’s the time to buy” 😉

[jpinpb]

Patient renter in OC – I haven’t been looking there, since I’m trying to buy a place in SD. But haven’t prices come down there? Probably you’re hoping to buy in a decent part of town, but I’ve seen some places come down here. Some places dowtown are nosediving off the top of their highrise. I’m sure there’s a way to go for everyone, but if I found a place I like that I can afford, I won’t wait. I’ve seen some places I want, but still too out of reach, made low offers on some bank owned and denied. What has been the situation in OC? Just curious.

[jpinpb]

Patient renter in OC – I haven’t been looking there, since I’m trying to buy a place in SD. But haven’t prices come down there? Probably you’re hoping to buy in a decent part of town, but I’ve seen some places come down here. Some places dowtown are nosediving off the top of their highrise. I’m sure there’s a way to go for everyone, but if I found a place I like that I can afford, I won’t wait. I’ve seen some places I want, but still too out of reach, made low offers on some bank owned and denied. What has been the situation in OC? Just curious.

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