[paramount]

CogSciGuy: I know what you mean – I went into engineering, and yes I do have a six figure income (basically the same as yours), but it took me years and years to get there.

The thing is, I don’t know to many people that do have six figure incomes. As I have read these forums for quite some time, I can’t help but wonder from time to time who is BSing and who isn’t.

BTW, there is NO shame in not having a big income, none at all.

[paramount]

CogSciGuy: I know what you mean – I went into engineering, and yes I do have a six figure income (basically the same as yours), but it took me years and years to get there.

The thing is, I don’t know to many people that do have six figure incomes. As I have read these forums for quite some time, I can’t help but wonder from time to time who is BSing and who isn’t.

BTW, there is NO shame in not having a big income, none at all.

[paramount]

CogSciGuy: I know what you mean – I went into engineering, and yes I do have a six figure income (basically the same as yours), but it took me years and years to get there.

The thing is, I don’t know to many people that do have six figure incomes. As I have read these forums for quite some time, I can’t help but wonder from time to time who is BSing and who isn’t.

BTW, there is NO shame in not having a big income, none at all.

[paramount]

I’m sure the demographics of 4S Ranch would indicate a higher than average income.

But then this is Piggington, where 99.9% of all people make 200k, have a 800 credit rating with no debts and have never been late on a bill. And yet most rent – go figure.

So yah, maybe 4S is middle class, in the Piggington Fantasy World.

[paramount]

I’m sure the demographics of 4S Ranch would indicate a higher than average income.

But then this is Piggington, where 99.9% of all people make 200k, have a 800 credit rating with no debts and have never been late on a bill. And yet most rent – go figure.

So yah, maybe 4S is middle class, in the Piggington Fantasy World.

[paramount]

I’m sure the demographics of 4S Ranch would indicate a higher than average income.

But then this is Piggington, where 99.9% of all people make 200k, have a 800 credit rating with no debts and have never been late on a bill. And yet most rent – go figure.

So yah, maybe 4S is middle class, in the Piggington Fantasy World.

[paramount]

I’m sure the demographics of 4S Ranch would indicate a higher than average income.

But then this is Piggington, where 99.9% of all people make 200k, have a 800 credit rating with no debts and have never been late on a bill. And yet most rent – go figure.

So yah, maybe 4S is middle class, in the Piggington Fantasy World.

[paramount]

I’m sure the demographics of 4S Ranch would indicate a higher than average income.

But then this is Piggington, where 99.9% of all people make 200k, have a 800 credit rating with no debts and have never been late on a bill. And yet most rent – go figure.

So yah, maybe 4S is middle class, in the Piggington Fantasy World.

[paramount]

Some people get a bit carried away with “fiscal conservatism”.

20% down is a nice ideal, but life is not always ideal. I would say at todays prices 5% should be a minimum.

You make a 120k? I always seem to notice that people on this board state these incredible incomes, and yet in my own life I know very few people who make anywhere near 100k.

[paramount]

Some people get a bit carried away with “fiscal conservatism”.

20% down is a nice ideal, but life is not always ideal. I would say at todays prices 5% should be a minimum.

You make a 120k? I always seem to notice that people on this board state these incredible incomes, and yet in my own life I know very few people who make anywhere near 100k.

[paramount]

Some people get a bit carried away with “fiscal conservatism”.

20% down is a nice ideal, but life is not always ideal. I would say at todays prices 5% should be a minimum.

You make a 120k? I always seem to notice that people on this board state these incredible incomes, and yet in my own life I know very few people who make anywhere near 100k.

[paramount]

Some people get a bit carried away with “fiscal conservatism”.

20% down is a nice ideal, but life is not always ideal. I would say at todays prices 5% should be a minimum.

You make a 120k? I always seem to notice that people on this board state these incredible incomes, and yet in my own life I know very few people who make anywhere near 100k.

[paramount]

Some people get a bit carried away with “fiscal conservatism”.

20% down is a nice ideal, but life is not always ideal. I would say at todays prices 5% should be a minimum.

You make a 120k? I always seem to notice that people on this board state these incredible incomes, and yet in my own life I know very few people who make anywhere near 100k.

[paramount]

I have been hearing in the mainstream media (this week) that mid 2008 should be the bottom of the market – but that could just be NAR marketing disguised as news.

One thing that has to be considered is population growth, which in Southern California still seems explosive.

I think the 2008 prediction is based on the lower number of foreclosures forecast (by some, Ex.: Jerry Siegel) in 2008.

I agree with a previous poster – downturns on average last around 36 months or so (based on what I have read).

My personal time line:

End of 2006: Start seeing weakness in the market
2007: Prices decline significantly
2008: Repeat of 2007
2009: Repeat of 2008

Sometime during 2010 prices stabilize

Total Price Decline: I would say around 30% from the peak on average.

So, if you had a house that was worth 400k at the peak, I would look for that same house to decline to ~280k.

Following that, I would look for an average of 3% in year-over-year appreciation.

[paramount]

I have been hearing in the mainstream media (this week) that mid 2008 should be the bottom of the market – but that could just be NAR marketing disguised as news.

One thing that has to be considered is population growth, which in Southern California still seems explosive.

I think the 2008 prediction is based on the lower number of foreclosures forecast (by some, Ex.: Jerry Siegel) in 2008.

I agree with a previous poster – downturns on average last around 36 months or so (based on what I have read).

My personal time line:

End of 2006: Start seeing weakness in the market
2007: Prices decline significantly
2008: Repeat of 2007
2009: Repeat of 2008

Sometime during 2010 prices stabilize

Total Price Decline: I would say around 30% from the peak on average.

So, if you had a house that was worth 400k at the peak, I would look for that same house to decline to ~280k.

Following that, I would look for an average of 3% in year-over-year appreciation.

[Author]

Posts