[patientrenter]

sduuuude seems to have put his (her?) finger on something important here: The OP doesn’t respond to many of the analytical posts, but responds with vigorous outrage at the less kind ones.

I’ll play FBI profiler here: The OP is a woman who is in major nesting mode, who has already decided on the house she wants. It happens to cost $800K, and she wants support for her anger that she is being denied it now simply because she cannot afford it now. (Afford it now means you can pay $800K, or convince someone to give you the difference if you pay less.)

[patientrenter]

sduuuude seems to have put his (her?) finger on something important here: The OP doesn’t respond to many of the analytical posts, but responds with vigorous outrage at the less kind ones.

I’ll play FBI profiler here: The OP is a woman who is in major nesting mode, who has already decided on the house she wants. It happens to cost $800K, and she wants support for her anger that she is being denied it now simply because she cannot afford it now. (Afford it now means you can pay $800K, or convince someone to give you the difference if you pay less.)

[patientrenter]

sduuuude seems to have put his (her?) finger on something important here: The OP doesn’t respond to many of the analytical posts, but responds with vigorous outrage at the less kind ones.

I’ll play FBI profiler here: The OP is a woman who is in major nesting mode, who has already decided on the house she wants. It happens to cost $800K, and she wants support for her anger that she is being denied it now simply because she cannot afford it now. (Afford it now means you can pay $800K, or convince someone to give you the difference if you pay less.)

[patientrenter]

sduuuude seems to have put his (her?) finger on something important here: The OP doesn’t respond to many of the analytical posts, but responds with vigorous outrage at the less kind ones.

I’ll play FBI profiler here: The OP is a woman who is in major nesting mode, who has already decided on the house she wants. It happens to cost $800K, and she wants support for her anger that she is being denied it now simply because she cannot afford it now. (Afford it now means you can pay $800K, or convince someone to give you the difference if you pay less.)

[patientrenter]

thanks, tg. Sounds like sanity has returned to Temecula. Long may you and the other recent Pigg buyers in Temecula enjoy your new affordable homes. As you say, this is the solution that needs to be applied across the country. A hundred million people, and tens of thousands of our great leaders, will resist like cornered cats. It’ll be fun to watch how it play out in different parts of the county, state, and country.

I live in central Boston now, where prices are about $500 / sq ft at the lowest end. People here are still clueless about the possible massive loss of value that is looming over them. They are convinced that this place is different, just like the English and Londoners especially thought their bubble was made of sterner stuff than the US “sub-prime” version.

[patientrenter]

thanks, tg. Sounds like sanity has returned to Temecula. Long may you and the other recent Pigg buyers in Temecula enjoy your new affordable homes. As you say, this is the solution that needs to be applied across the country. A hundred million people, and tens of thousands of our great leaders, will resist like cornered cats. It’ll be fun to watch how it play out in different parts of the county, state, and country.

I live in central Boston now, where prices are about $500 / sq ft at the lowest end. People here are still clueless about the possible massive loss of value that is looming over them. They are convinced that this place is different, just like the English and Londoners especially thought their bubble was made of sterner stuff than the US “sub-prime” version.

[patientrenter]

thanks, tg. Sounds like sanity has returned to Temecula. Long may you and the other recent Pigg buyers in Temecula enjoy your new affordable homes. As you say, this is the solution that needs to be applied across the country. A hundred million people, and tens of thousands of our great leaders, will resist like cornered cats. It’ll be fun to watch how it play out in different parts of the county, state, and country.

I live in central Boston now, where prices are about $500 / sq ft at the lowest end. People here are still clueless about the possible massive loss of value that is looming over them. They are convinced that this place is different, just like the English and Londoners especially thought their bubble was made of sterner stuff than the US “sub-prime” version.

[patientrenter]

thanks, tg. Sounds like sanity has returned to Temecula. Long may you and the other recent Pigg buyers in Temecula enjoy your new affordable homes. As you say, this is the solution that needs to be applied across the country. A hundred million people, and tens of thousands of our great leaders, will resist like cornered cats. It’ll be fun to watch how it play out in different parts of the county, state, and country.

I live in central Boston now, where prices are about $500 / sq ft at the lowest end. People here are still clueless about the possible massive loss of value that is looming over them. They are convinced that this place is different, just like the English and Londoners especially thought their bubble was made of sterner stuff than the US “sub-prime” version.

[patientrenter]

thanks, tg. Sounds like sanity has returned to Temecula. Long may you and the other recent Pigg buyers in Temecula enjoy your new affordable homes. As you say, this is the solution that needs to be applied across the country. A hundred million people, and tens of thousands of our great leaders, will resist like cornered cats. It’ll be fun to watch how it play out in different parts of the county, state, and country.

I live in central Boston now, where prices are about $500 / sq ft at the lowest end. People here are still clueless about the possible massive loss of value that is looming over them. They are convinced that this place is different, just like the English and Londoners especially thought their bubble was made of sterner stuff than the US “sub-prime” version.

[patientrenter]

[quote=qwerty007]Boomtown is a slightly misleading word in the context of this article, at least in respect of soCal. Here’s a snippet.

“…places where purchases of foreclosed properties have surged most in the last year …in California, it’s because house prices have finally dropped into line with incomes.” [/quote]

In line with incomes? I would say that house prices in SOME places have dropped in line with SOME incomes. Prices are still way higher than 10 years ago, and are broadly propped up by taxpayers/savers taking on the risk from further drops in price, and from a tsunami of cheap money from the taxpayers/savers. (Taxpayers will pick up the tab to the extent there is no extra inflation, savers will pick up the tab to the extent there is extra inflation.)

[patientrenter]

[quote=qwerty007]Boomtown is a slightly misleading word in the context of this article, at least in respect of soCal. Here’s a snippet.

“…places where purchases of foreclosed properties have surged most in the last year …in California, it’s because house prices have finally dropped into line with incomes.” [/quote]

In line with incomes? I would say that house prices in SOME places have dropped in line with SOME incomes. Prices are still way higher than 10 years ago, and are broadly propped up by taxpayers/savers taking on the risk from further drops in price, and from a tsunami of cheap money from the taxpayers/savers. (Taxpayers will pick up the tab to the extent there is no extra inflation, savers will pick up the tab to the extent there is extra inflation.)

[patientrenter]

[quote=qwerty007]Boomtown is a slightly misleading word in the context of this article, at least in respect of soCal. Here’s a snippet.

“…places where purchases of foreclosed properties have surged most in the last year …in California, it’s because house prices have finally dropped into line with incomes.” [/quote]

In line with incomes? I would say that house prices in SOME places have dropped in line with SOME incomes. Prices are still way higher than 10 years ago, and are broadly propped up by taxpayers/savers taking on the risk from further drops in price, and from a tsunami of cheap money from the taxpayers/savers. (Taxpayers will pick up the tab to the extent there is no extra inflation, savers will pick up the tab to the extent there is extra inflation.)

[patientrenter]

[quote=qwerty007]Boomtown is a slightly misleading word in the context of this article, at least in respect of soCal. Here’s a snippet.

“…places where purchases of foreclosed properties have surged most in the last year …in California, it’s because house prices have finally dropped into line with incomes.” [/quote]

In line with incomes? I would say that house prices in SOME places have dropped in line with SOME incomes. Prices are still way higher than 10 years ago, and are broadly propped up by taxpayers/savers taking on the risk from further drops in price, and from a tsunami of cheap money from the taxpayers/savers. (Taxpayers will pick up the tab to the extent there is no extra inflation, savers will pick up the tab to the extent there is extra inflation.)

[patientrenter]

[quote=qwerty007]Boomtown is a slightly misleading word in the context of this article, at least in respect of soCal. Here’s a snippet.

“…places where purchases of foreclosed properties have surged most in the last year …in California, it’s because house prices have finally dropped into line with incomes.” [/quote]

In line with incomes? I would say that house prices in SOME places have dropped in line with SOME incomes. Prices are still way higher than 10 years ago, and are broadly propped up by taxpayers/savers taking on the risk from further drops in price, and from a tsunami of cheap money from the taxpayers/savers. (Taxpayers will pick up the tab to the extent there is no extra inflation, savers will pick up the tab to the extent there is extra inflation.)

[patientrenter]

I’ll piggyback on this thread to ask a question I’ve been mulling for a while:

You’ve all seen the Shiller charts that show this real estate bubble was the biggest in recorded human history. That’s right, what happened to real estate prices in just the last 10 years – in San Diego, in California, in the USA, in much of the rest of the world – was bigger than anything ever recorded.

Given that, do you think that the traditional measures of the bottom of the cycle – sales, price/income etc – will be average, or much different from the average bottom of the cycle? (As one reference point, the bottom of the last cycle in So Cal was 1996, not 2001….) If you think it’s going to be different, how different?

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