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PD
ParticipantGoodbye.
ParticipantIt would work out great if interest rates went over 8%. It would be like your own personal carry trade.
ParticipantIt would work out great if interest rates went over 8%. It would be like your own personal carry trade.
ParticipantLS08, you are over the top and quite combative. If you toned it done a bit and quit throwing insults around, you would get more respect. Further, calling people on spelling, punctuation or grammar is a bad idea, particularly if you are sometimes an offender.
ParticipantLS08, you are over the top and quite combative. If you toned it done a bit and quit throwing insults around, you would get more respect. Further, calling people on spelling, punctuation or grammar is a bad idea, particularly if you are sometimes an offender.
ParticipantImagine someone blowing a huge Bubblicious bubble and holding it. It moves around a little bit, the surface becomes less firm, it starts to sag, sags a little more until finally it is stuck all over their chin.
ParticipantImagine someone blowing a huge Bubblicious bubble and holding it. It moves around a little bit, the surface becomes less firm, it starts to sag, sags a little more until finally it is stuck all over their chin.
ParticipantI think we will see a big chunk (10% – 15%) taken out this fall. September to January is going to hurt. In January we will hear a flurry of people saying, “Yippie, we hit bottom!” Prices will go up 2% through May. Then we will see another drop the following fall.
I think there are a lot people out there who have decided to sit tight and ride it out. However, once all hope is gone for a recovery, they will list their houses, feeling afraid and broken.ParticipantI think we will see a big chunk (10% – 15%) taken out this fall. September to January is going to hurt. In January we will hear a flurry of people saying, “Yippie, we hit bottom!” Prices will go up 2% through May. Then we will see another drop the following fall.
I think there are a lot people out there who have decided to sit tight and ride it out. However, once all hope is gone for a recovery, they will list their houses, feeling afraid and broken.ParticipantFrom observation, most of the houses in Coronado 1.5M and under are being purchased by the middle class. These people are reaching.
I talked to a friend yesterday who owns a 3+M home here. She told me that she thought that prices would not go down much because there is so much wealth here. But then in the next breath she told me about how she was talking to two of her neighbors (also bought 3+M homes in last 2 years) and they were commiserating over their onerous mortgages. All three families are high earning but are not independently wealthy.
She also told me about another neighbor who bought as a vacation home, using this as an example of how desirable Coronado is for 2nd homeowners. But just because someone bought a second home doesn’t mean that they can really afford it. Further, they may have been speculating.ParticipantFrom observation, most of the houses in Coronado 1.5M and under are being purchased by the middle class. These people are reaching.
I talked to a friend yesterday who owns a 3+M home here. She told me that she thought that prices would not go down much because there is so much wealth here. But then in the next breath she told me about how she was talking to two of her neighbors (also bought 3+M homes in last 2 years) and they were commiserating over their onerous mortgages. All three families are high earning but are not independently wealthy.
She also told me about another neighbor who bought as a vacation home, using this as an example of how desirable Coronado is for 2nd homeowners. But just because someone bought a second home doesn’t mean that they can really afford it. Further, they may have been speculating.ParticipantI wonder if we will see greater than 50% declines in places like this.
ParticipantI wonder if we will see greater than 50% declines in places like this.
ParticipantIt looks like prices have always stayed above the 6% line. If we come back down to that line, we are looking at a 30% haircut.
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