[NotCranky]

It doesn’t seem like a family buying a 500k house on a 200k income is going to be stuck anywhere in San Diego for 20 years even with the 100k scenario kicking in for a few years. History does bare out any extreme problems there.

Poway seemed like a bargain to me compared to other bubble priced markets. It would be interesting to see a picture get painted of the situation there as Newrenter and the Realtors and a few others are doing on the CV thread.
My gut sense of things makes me like 350k a lot better than 500k for the houses I see at 500k there now. I would definitely take a wait and see attitude becasue of the economy too. This stuff isn’t transparent but we can be sure these are not prosperous times macro-economically speaking.

It is important to be certain about how one will feel about being upside down or seeing capital gone and better deals everywhere. Even when one can afford it, are they really really O.K. with it? I have known many people that are. Lots of us on this board are losing equity daily, hopefully on properties we can afford. I can afford it and I don’t like it at all. It is not my wife’s fault either! Many people take the long view in the stock market recession after recession, others need to day trade even in prosperity. To each his own.

I personally don’t see why we can’t accommodate people here that want to buy. Same rule goes if you don’t like the thread stay off of it. Our timing of the market is going to be to be subject to very broad opinions. Eventually all of us are going to want to be buyers again. Why prejudice against the ones who want to go first?

[NotCranky]

SDCIA,

I would not really say it is particularly bullish(anymore) The participants there,generally speaking, favor RE as an investment class to a higher degree . Much more RE investment experience can be gleened from that site. It seems pretty balanced to me. I see a lot of crossover between that blog and this but some people from bubble blogs and perhaps from SDCIA see it as an “us and them” sort of thing.

[NotCranky]

SDCIA,

I would not really say it is particularly bullish(anymore) The participants there,generally speaking, favor RE as an investment class to a higher degree . Much more RE investment experience can be gleened from that site. It seems pretty balanced to me. I see a lot of crossover between that blog and this but some people from bubble blogs and perhaps from SDCIA see it as an “us and them” sort of thing.

[NotCranky]

SDCIA,

I would not really say it is particularly bullish(anymore) The participants there,generally speaking, favor RE as an investment class to a higher degree . Much more RE investment experience can be gleened from that site. It seems pretty balanced to me. I see a lot of crossover between that blog and this but some people from bubble blogs and perhaps from SDCIA see it as an “us and them” sort of thing.

[NotCranky]

SDCIA,

I would not really say it is particularly bullish(anymore) The participants there,generally speaking, favor RE as an investment class to a higher degree . Much more RE investment experience can be gleened from that site. It seems pretty balanced to me. I see a lot of crossover between that blog and this but some people from bubble blogs and perhaps from SDCIA see it as an “us and them” sort of thing.

[NotCranky]

SDCIA,

I would not really say it is particularly bullish(anymore) The participants there,generally speaking, favor RE as an investment class to a higher degree . Much more RE investment experience can be gleened from that site. It seems pretty balanced to me. I see a lot of crossover between that blog and this but some people from bubble blogs and perhaps from SDCIA see it as an “us and them” sort of thing.

[NotCranky]

“Also, I would guess that there are plenty of people in the newer developments who are typical of the “other half” of CV residents. They make 100k-200k/yr, and they really stretched to buy, figuring on continued appreciation. If prices do continue coming down even at their current (very slow) pace, they may not be able to hang on when their loans reset. ”

I was looking at the same thing. Median household income from 92130 in 93k (from zipskinny.com). The median age is pretty young too. Maybe good incomes but not so deep pockets for a significant portion of the households?To the naked eye it sure looks like they spend like crazy. My guess is the the folks in CV are some of the most employable in the county, definitely high educational achievement on average.

For the fun of it,when I find the right sites, I am going to look at relationships of median income to median house price at peak for various zips..unless someone else has that handy?

[NotCranky]

“Also, I would guess that there are plenty of people in the newer developments who are typical of the “other half” of CV residents. They make 100k-200k/yr, and they really stretched to buy, figuring on continued appreciation. If prices do continue coming down even at their current (very slow) pace, they may not be able to hang on when their loans reset. ”

I was looking at the same thing. Median household income from 92130 in 93k (from zipskinny.com). The median age is pretty young too. Maybe good incomes but not so deep pockets for a significant portion of the households?To the naked eye it sure looks like they spend like crazy. My guess is the the folks in CV are some of the most employable in the county, definitely high educational achievement on average.

For the fun of it,when I find the right sites, I am going to look at relationships of median income to median house price at peak for various zips..unless someone else has that handy?

[NotCranky]

“Also, I would guess that there are plenty of people in the newer developments who are typical of the “other half” of CV residents. They make 100k-200k/yr, and they really stretched to buy, figuring on continued appreciation. If prices do continue coming down even at their current (very slow) pace, they may not be able to hang on when their loans reset. ”

I was looking at the same thing. Median household income from 92130 in 93k (from zipskinny.com). The median age is pretty young too. Maybe good incomes but not so deep pockets for a significant portion of the households?To the naked eye it sure looks like they spend like crazy. My guess is the the folks in CV are some of the most employable in the county, definitely high educational achievement on average.

For the fun of it,when I find the right sites, I am going to look at relationships of median income to median house price at peak for various zips..unless someone else has that handy?

[NotCranky]

“Also, I would guess that there are plenty of people in the newer developments who are typical of the “other half” of CV residents. They make 100k-200k/yr, and they really stretched to buy, figuring on continued appreciation. If prices do continue coming down even at their current (very slow) pace, they may not be able to hang on when their loans reset. ”

I was looking at the same thing. Median household income from 92130 in 93k (from zipskinny.com). The median age is pretty young too. Maybe good incomes but not so deep pockets for a significant portion of the households?To the naked eye it sure looks like they spend like crazy. My guess is the the folks in CV are some of the most employable in the county, definitely high educational achievement on average.

For the fun of it,when I find the right sites, I am going to look at relationships of median income to median house price at peak for various zips..unless someone else has that handy?

[NotCranky]

“Also, I would guess that there are plenty of people in the newer developments who are typical of the “other half” of CV residents. They make 100k-200k/yr, and they really stretched to buy, figuring on continued appreciation. If prices do continue coming down even at their current (very slow) pace, they may not be able to hang on when their loans reset. ”

I was looking at the same thing. Median household income from 92130 in 93k (from zipskinny.com). The median age is pretty young too. Maybe good incomes but not so deep pockets for a significant portion of the households?To the naked eye it sure looks like they spend like crazy. My guess is the the folks in CV are some of the most employable in the county, definitely high educational achievement on average.

For the fun of it,when I find the right sites, I am going to look at relationships of median income to median house price at peak for various zips..unless someone else has that handy?

[NotCranky]

“When do people start blasting those who did fixed rates at 6% when theey could ahve had 4% variable rates for a 5 year period that are now going to reset at that same level”

What are the terms of the notes from here on out? Many still borrowed way too much and the adjustment periods are for shorter period of time from reset on out. I don’t think the arm and option arm people are out of the woods yet. There is all kinds of paper out there. Some of the terms had actual rates going up at least a certain amount regardless of market rates. I don’t know how universal it was but I believe arm people paid more points too.

[NotCranky]

“When do people start blasting those who did fixed rates at 6% when theey could ahve had 4% variable rates for a 5 year period that are now going to reset at that same level”

What are the terms of the notes from here on out? Many still borrowed way too much and the adjustment periods are for shorter period of time from reset on out. I don’t think the arm and option arm people are out of the woods yet. There is all kinds of paper out there. Some of the terms had actual rates going up at least a certain amount regardless of market rates. I don’t know how universal it was but I believe arm people paid more points too.

[NotCranky]

“When do people start blasting those who did fixed rates at 6% when theey could ahve had 4% variable rates for a 5 year period that are now going to reset at that same level”

What are the terms of the notes from here on out? Many still borrowed way too much and the adjustment periods are for shorter period of time from reset on out. I don’t think the arm and option arm people are out of the woods yet. There is all kinds of paper out there. Some of the terms had actual rates going up at least a certain amount regardless of market rates. I don’t know how universal it was but I believe arm people paid more points too.

[NotCranky]

“When do people start blasting those who did fixed rates at 6% when theey could ahve had 4% variable rates for a 5 year period that are now going to reset at that same level”

What are the terms of the notes from here on out? Many still borrowed way too much and the adjustment periods are for shorter period of time from reset on out. I don’t think the arm and option arm people are out of the woods yet. There is all kinds of paper out there. Some of the terms had actual rates going up at least a certain amount regardless of market rates. I don’t know how universal it was but I believe arm people paid more points too.

[Author]

Posts