[jstoesz]

FTR, my main point had nothing to do with interest rates, and to be honest, I don’t really care about them. That was an unnecessary comment which was to encompass all the reasons for low mortgage rates…see fha, and the secondary mortgage market.

I take issue with the idea that a 1000 sq ft house, 10 miles from the ocean and in a bad school district is going to sell for over a half a million dollars. How can this ever be considered a “good deal.”

And yes the east coast is expensive, but far from the expense of SD in most cases. (old data, but still relevant)

http://www.bizjournals.com/specials/pages/160.html

As to your “affordable with the low interest rates” comment, yes that is true and not a problem as long as you never want to sell your home.

[jstoesz]

FTR, my main point had nothing to do with interest rates, and to be honest, I don’t really care about them. That was an unnecessary comment which was to encompass all the reasons for low mortgage rates…see fha, and the secondary mortgage market.

I take issue with the idea that a 1000 sq ft house, 10 miles from the ocean and in a bad school district is going to sell for over a half a million dollars. How can this ever be considered a “good deal.”

And yes the east coast is expensive, but far from the expense of SD in most cases. (old data, but still relevant)

http://www.bizjournals.com/specials/pages/160.html

As to your “affordable with the low interest rates” comment, yes that is true and not a problem as long as you never want to sell your home.

[jstoesz]

I have lost the train of logic in the last page or so…yes I have been lurking.

I would like to clear something up apart from the flipping debate, When people say housing in certain neighborhoods of SD are a good deal or affordable, I want to vomit. There are no neighborhoods in SD where the median income can afford to buy the median home (3X annual income rule). The only way people can afford homes in this state is with preexisting equity, artificially low interest rates, and/or crazy mortgages.

http://realestate.aol.com/San_Diego-CA-neighborhood

If you are curious, the ratio (income to home value, historically <3) is generally between 7-11 for most san diego zip codes. So if you want to say homes are a good deal, or affordable or whatever, you have got to get out of the state and look around.

Logically, I would say this is unsustainable, but home prices have been pretty crazy for the last 20 or so years.

[jstoesz]

I have lost the train of logic in the last page or so…yes I have been lurking.

I would like to clear something up apart from the flipping debate, When people say housing in certain neighborhoods of SD are a good deal or affordable, I want to vomit. There are no neighborhoods in SD where the median income can afford to buy the median home (3X annual income rule). The only way people can afford homes in this state is with preexisting equity, artificially low interest rates, and/or crazy mortgages.

http://realestate.aol.com/San_Diego-CA-neighborhood

If you are curious, the ratio (income to home value, historically <3) is generally between 7-11 for most san diego zip codes. So if you want to say homes are a good deal, or affordable or whatever, you have got to get out of the state and look around.

Logically, I would say this is unsustainable, but home prices have been pretty crazy for the last 20 or so years.

[jstoesz]

I have lost the train of logic in the last page or so…yes I have been lurking.

I would like to clear something up apart from the flipping debate, When people say housing in certain neighborhoods of SD are a good deal or affordable, I want to vomit. There are no neighborhoods in SD where the median income can afford to buy the median home (3X annual income rule). The only way people can afford homes in this state is with preexisting equity, artificially low interest rates, and/or crazy mortgages.

http://realestate.aol.com/San_Diego-CA-neighborhood

If you are curious, the ratio (income to home value, historically <3) is generally between 7-11 for most san diego zip codes. So if you want to say homes are a good deal, or affordable or whatever, you have got to get out of the state and look around.

Logically, I would say this is unsustainable, but home prices have been pretty crazy for the last 20 or so years.

[jstoesz]

I have lost the train of logic in the last page or so…yes I have been lurking.

I would like to clear something up apart from the flipping debate, When people say housing in certain neighborhoods of SD are a good deal or affordable, I want to vomit. There are no neighborhoods in SD where the median income can afford to buy the median home (3X annual income rule). The only way people can afford homes in this state is with preexisting equity, artificially low interest rates, and/or crazy mortgages.

http://realestate.aol.com/San_Diego-CA-neighborhood

If you are curious, the ratio (income to home value, historically <3) is generally between 7-11 for most san diego zip codes. So if you want to say homes are a good deal, or affordable or whatever, you have got to get out of the state and look around.

Logically, I would say this is unsustainable, but home prices have been pretty crazy for the last 20 or so years.

[jstoesz]

I have lost the train of logic in the last page or so…yes I have been lurking.

I would like to clear something up apart from the flipping debate, When people say housing in certain neighborhoods of SD are a good deal or affordable, I want to vomit. There are no neighborhoods in SD where the median income can afford to buy the median home (3X annual income rule). The only way people can afford homes in this state is with preexisting equity, artificially low interest rates, and/or crazy mortgages.

http://realestate.aol.com/San_Diego-CA-neighborhood

If you are curious, the ratio (income to home value, historically <3) is generally between 7-11 for most san diego zip codes. So if you want to say homes are a good deal, or affordable or whatever, you have got to get out of the state and look around.

Logically, I would say this is unsustainable, but home prices have been pretty crazy for the last 20 or so years.

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