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October 17, 2007 at 2:33 PM in reply to: “It’s going to be a long time before we see it bottom out and recover” #89666October 17, 2007 at 2:33 PM in reply to: “It’s going to be a long time before we see it bottom out and recover” #89675
patientlywaiting
Participantdavelj, I mostly agree with you.
My situation is a little different though. I built my house when I was younger and more energetic. Now, although I watch the market, I don’t have much incentive to move unless it’s a deal of a lifetime. That’s what age does to you. You don’t feel very excited about material possession anymore. I pretty much have everything I need.
So if I’m going to buy, it will be at the very bottom where I can choose from a large inventory.
I know that young folks who need a house and are itching to buy, they will jump in at at the first sign of a “deal.”
ParticipantThat is the big question radelow. I read an article by an economist who calculated that our current income stream is not enough to service the debt as it is. Appreciation is what we are counting on and we are pushing the debt service further into the future.
ParticipantThat is the big question radelow. I read an article by an economist who calculated that our current income stream is not enough to service the debt as it is. Appreciation is what we are counting on and we are pushing the debt service further into the future.
ParticipantBut as we are seeing, you can lose it all also. But given that people can walk from upside down mortgages, the downside is limited.
ParticipantBut as we are seeing, you can lose it all also. But given that people can walk from upside down mortgages, the downside is limited.
ParticipantDo you guys think this will lead to higher mortgage rates which will futher tank real estate?
ParticipantDo you guys think this will lead to higher mortgage rates which will futher tank real estate?
October 17, 2007 at 10:31 AM in reply to: “It’s going to be a long time before we see it bottom out and recover” #89591Participantdavelj, i think your prediction will be right on.
Assuming the prices will nominally stagnate from 2011 to 2014, when would you rather buy? Closer to 2011 or 2014?
2014 should present many more choices at the best prices. I probably won’t buy my next “dream” house until then. If it’s just a regular house to live in then anytime during that bottom period would be fine.
Looking back to the 1990s at some of the anecdotal price histories, I think that 1996 was a much better time to buy than 1991.
October 17, 2007 at 10:31 AM in reply to: “It’s going to be a long time before we see it bottom out and recover” #89598Participantdavelj, i think your prediction will be right on.
Assuming the prices will nominally stagnate from 2011 to 2014, when would you rather buy? Closer to 2011 or 2014?
2014 should present many more choices at the best prices. I probably won’t buy my next “dream” house until then. If it’s just a regular house to live in then anytime during that bottom period would be fine.
Looking back to the 1990s at some of the anecdotal price histories, I think that 1996 was a much better time to buy than 1991.
October 17, 2007 at 8:39 AM in reply to: “It’s going to be a long time before we see it bottom out and recover” #89560ParticipantGreat point Bugs. If they optimists are saying 2010, it won’t be until 2013.
October 17, 2007 at 8:39 AM in reply to: “It’s going to be a long time before we see it bottom out and recover” #89568ParticipantGreat point Bugs. If they optimists are saying 2010, it won’t be until 2013.
ParticipantI agree that Nightline made light of the whole situation and did not acknowledge how grave it is. People in the Bay Area are only starting to lose on real estate so it hasn’t hit them like a ton of bricks yet.
Patrick appears nerdy and aloof so the average Joe may not totally identify with him.
Overall, I think it’s great that the networks are doing stories on housing.
ParticipantI agree that Nightline made light of the whole situation and did not acknowledge how grave it is. People in the Bay Area are only starting to lose on real estate so it hasn’t hit them like a ton of bricks yet.
Patrick appears nerdy and aloof so the average Joe may not totally identify with him.
Overall, I think it’s great that the networks are doing stories on housing.
ParticipantWhy not go ahead and let it start now?
I wonder what the people at the World Bank are thinking these days? Don't they keep on telling emerging economies to keep their hands off and let the (foreign) sharks pounce on their assets?
Shouldn't we practice what we preach, allow some banks to fail, and let CITIC or other foreign banks pounce on our assets? After all, bad decisions should not be rewarded.
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