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JWM in SD
ParticipantThat’s okay OCrenter. It is largely because he knows where this ultimately headed and it’s not good for him.
Participant“Buddy… i AM the pent-up demand, and I’m not moving until the supply of available homes is so great, the sellers have no choice but to bring their values back into line and admit their greed was a dumb decision…”
Yes, precisely. Cash, time and no debt. That is what home sellers should fear the most right now. I don’t have to buy a house until I want to buy one.
Participant“Buddy… i AM the pent-up demand, and I’m not moving until the supply of available homes is so great, the sellers have no choice but to bring their values back into line and admit their greed was a dumb decision…”
Yes, precisely. Cash, time and no debt. That is what home sellers should fear the most right now. I don’t have to buy a house until I want to buy one.
Participant“Buddy… i AM the pent-up demand, and I’m not moving until the supply of available homes is so great, the sellers have no choice but to bring their values back into line and admit their greed was a dumb decision…”
Yes, precisely. Cash, time and no debt. That is what home sellers should fear the most right now. I don’t have to buy a house until I want to buy one.
Participant“If prices revert to 1997 levels (previous bottom), plus inflation when would we get to 2005 prices?”
Who knows, could be 5 years could 15 years. That is the problem with RE right now. The risk of it being illiquid for long time is too high given the current macro-econ picture.
Participant“If prices revert to 1997 levels (previous bottom), plus inflation when would we get to 2005 prices?”
Who knows, could be 5 years could 15 years. That is the problem with RE right now. The risk of it being illiquid for long time is too high given the current macro-econ picture.
Participant“If prices revert to 1997 levels (previous bottom), plus inflation when would we get to 2005 prices?”
Who knows, could be 5 years could 15 years. That is the problem with RE right now. The risk of it being illiquid for long time is too high given the current macro-econ picture.
ParticipantA year ago? He’s already lost $.
ParticipantA year ago? He’s already lost $.
ParticipantA year ago? He’s already lost $.
October 31, 2007 at 2:55 PM in reply to: 10% population in SD county are millionaires (exclude Primary RE)?! #93838Participant“I am not really taking that stance. Just using a personal anecdote to reply to biased anti- Real Estate sentiment. Probably shouldn’t do that.”
Don’t worry, I know you didn’t really mean it that way…just some verbal sparring on my part.
I shouldn’t have used “you” in my response. I meant that in a generic sense. Not your situation in particular. I’m not biased against RE…I’m biased against inflated, loose credit RE.
The issue is timing Rustico. It is critical when investing in anything. If the initial investment cost is too high, then it won’t make the hurdle rate. THis is what I learned in 2 plus years of analyzing RFQs and RFPs for Borg Warner Automotive.
October 31, 2007 at 2:55 PM in reply to: 10% population in SD county are millionaires (exclude Primary RE)?! #93873Participant“I am not really taking that stance. Just using a personal anecdote to reply to biased anti- Real Estate sentiment. Probably shouldn’t do that.”
Don’t worry, I know you didn’t really mean it that way…just some verbal sparring on my part.
I shouldn’t have used “you” in my response. I meant that in a generic sense. Not your situation in particular. I’m not biased against RE…I’m biased against inflated, loose credit RE.
The issue is timing Rustico. It is critical when investing in anything. If the initial investment cost is too high, then it won’t make the hurdle rate. THis is what I learned in 2 plus years of analyzing RFQs and RFPs for Borg Warner Automotive.
October 31, 2007 at 2:55 PM in reply to: 10% population in SD county are millionaires (exclude Primary RE)?! #93881Participant“I am not really taking that stance. Just using a personal anecdote to reply to biased anti- Real Estate sentiment. Probably shouldn’t do that.”
Don’t worry, I know you didn’t really mean it that way…just some verbal sparring on my part.
I shouldn’t have used “you” in my response. I meant that in a generic sense. Not your situation in particular. I’m not biased against RE…I’m biased against inflated, loose credit RE.
The issue is timing Rustico. It is critical when investing in anything. If the initial investment cost is too high, then it won’t make the hurdle rate. THis is what I learned in 2 plus years of analyzing RFQs and RFPs for Borg Warner Automotive.
October 31, 2007 at 12:58 PM in reply to: 10% population in SD county are millionaires (exclude Primary RE)?! #93810Participant“As if RE deprecitation is the only way a persons portfolio could lose value?”
No, of course not. However, there are investments that will lose less and make more than RE will. Specifically SoCal RE. Why do you think Rich has a new day job???
“Aren’t a few people here pissed because it is going to be hard to support non RE assets and even cash in some scenarios in a crash?”
Yes, I am. But I’ve also implemented strategies to mitigate that effect. I would not have that opportunity with RE. SoCal RE is depreciating and it’s denominated in USD. Double Whammy.
“My mortgage payment is still going to be zero regardless or what happens to my overall net worth and I can have cash flow from it anytime I want, without loosing the asset.”
Ah yes, I got mine, now you go get yours right? Come on Rustico, you know better. That is the whole reason why this site exists “…Landed Poor”. I’ve long since reconciled with the possibility of never owning again. I hope that doesn’t happen, but I have accepted it if it does. That being said, I will only buy when the price point is acceptable to me and that will be somewhere far south of where it is now. If your house is a big piece of your nest egg, then you are relying on people like me to buy it sometime in the future. How many will have credit and cash relative to listing inventory? That is operative question.
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