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Actually, yes…the moon is quite desirable (they’re not making any more moon, you know). Don’t laugh, bitter jealous renters like me have been secretly developing the dark side of the moon the last four years, waiting for the worldwide housing bubble to pop.

sdr–I concede that rents could/should go up (hopefully not mine, though…I’ve enjoyed paying the same rent for my SFR the last 4 years) I’ve just been playing with semantics and half-baked arguments here.

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Yes, once again (with tongue in cheek) I must say that fortunately there aren’t going to be any massive job losses in Southern California tied directly to real estate’s decline.

Thank God Orange County, California isn’t ground zero for sub-prime lending, nationwide. Thank God, again, that retailers in SoCal haven’t been reaping the benefits of MEW more than anywhere else on the planet. Thank God SoCal is the land of eternal milk and honey, where high-paying jobs are plentiful and the people here are the most fiscally responsible in the nation. Thank God people wouldn’t think of moving out of California, even if the prospects for gainful employment, clean natural resources, and safe communities were greatly diminished.

I am so excited to watch our local economy hold up, in stark contrast to other parts of our great nation, which are already going down the tubes (most notably, FL and the Northeast)

Give me a break…

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Yeah, because none of those guys live on base;) None of those guys left behind wives and children in North County, either, who might already be occupying dwellings.

Come home, Marines…and save San Diego County from the housing bubble!

USMC renters for everyone!!

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Selling during a frenzy of bidding wars is a heck of a lot easier than during a period of increasing illiquidity. If you were speaking of stocks, I would agree that it would be easier to get out just past the peak. Since housing is truly illiquid, in the sense that an individual purchaser must buy it from you, rather than a market-maker providing near instant liquidity, missing the peak can mean an agonizing, instant loss of 20-30% “value”.

What if nobody remains who likes your floorplan/view/location/neighborhood/paint/flooring/compass orientation? Then you are screwed. I firmly believe, although I have no data to support, that many people in this country went to bed one night, then woke up with their house being worth 30% less than the day before due to the lack of a current/future buyer. I categorically disagree that real estate has to be “sticky on the way down” as this is NAR-speak, plain and simply crap.

Finally, I disagree that we are TRULY “slightly appreciating in Southern CA”. Most of us smart enough to be participating on these boards recognize that medians are a useless indicator in the current market conditions, post peak…sentiment and anecdotal experience are much more telling of the reality. Prices are down significantly in many parts of the U.S. and they are down a good bit in some parts of Southern CA….most owners don’t realize it yet.

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probably a drunk troll, at that, based on his 12:50 a.m. posting time

I just couldn’t resist

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Bugs-regarding fat_lazy-union’s rant…

“If anything, your rant seems to be indicative of no small level of bitterness.”

My sentiments exactly!

fat_lazy_union is perhaps the first of many “jealous bitter OWNERS” who will be making their way to our humble little community, stating their bitter case for how stupid and timid we were to sit out the housing bubble.

Please stop, fat_lazy_union…you are hurting my “pussy” feelings! Hahahahahahahaha. This is beginning to get fun!

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doofrat-

you nailed it!

this reporter had f*ckin’ teeth tearing into his flesh thirty seconds after the interview began…how was he supposed to leave without leaving his face behind?!?!?

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I once met a guy who called himself a financial advisor who used the word “pacific” instead of “specific”, repeatedly.

Needless to say we are not doing business together.

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That is a good question.

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mydogs,

sorry. It is easy to take pot-shots at places like Temecula for fun and that is exactly what I did. I apologize for the insult.

I actually drove through Temecula recently and thought the valley and surrounding mountain scenery were quite pretty.

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Mydogs-not exactly sure what to make of the last post there..either you were kidding about living the Robin Leach lifestyle or else the lifestyle of the Rich & Famous is exactly the same as what I do a lot of the time…spend time at piggington.com.

C’mon dude…Temecula???

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All it’s going to take for Temecula/Murrieta/Lake Smells-inore to drop 60-80% is this..

People are going to one day wake-up from their comas and go “Oh, my God, I live in TEMECULA/MURRIETA/LAKE ELSINORE!!!…somebody PLEASE KILL ME”

I’m sure there may be some great schools there but what is the typical makeup of the society there? I’d have to imagine it is comprised mostly of hordes of people who would be actually be willing to live in TEMECULA/MURRIETA/LAKE ELSINORE…not exactly the type of people destined for Ivy League schools to begin with.

Also, as for people’s desire to buy “new”, buying a new house in Temecula is almost as satisfying as buying a brand new Suzuki Aero…sure the car smells new, but people are still looking at you funny.

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I agree…over 20 calls is quite impressive.

Sdr-Any insight into whether frustrated sellers ever entertain offers to rent the home for a year, rather than offers to buy?

What would be the best way, if it does happen, to go about making such an offer…through an RE agent or direct to the seller’s agent?

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C’mon sdr-

You know that one anecdotal story does not a clear picture make-

There are several single-family homes in my nice 1980s constructed North County Inland neighborhood that are available for rent and have been for the better part of 6 months to a year in some cases.

There are also close to 20 homes for sale in the same neighborhood, just sitting there, priced to sit, despite multiple reductions in price on many of them.

Think about what the upper limits must be for rental prices for a moment…$3000 to $4000 a month right? After all, most people who can “afford” this rent are going to be buyers, right? sdr- do you know many folks who rent for more than $3000 per month? I believe that the upper limits compress and restrain all market rents beneath them.

This “compression” is why, when San Diego real estate plummets, ALL less desireable locations nationwide should suffer downward pricing pressure. It may take some time as the process takes some time to creep it’s way along, but equilibrium should eventually be reached. How long? Anyone’s guess is as good as mine.

And sdr…I’m not really at odds with you about your anecdotal experience, either, as I provide anecdotal evidence myself that often serves to bolster my own opinion fo what the market is doing.

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How about:

Let’s see who blinks first
http://www.piggington.com

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