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PD
ParticipantNice straddle!
August 16, 2006 at 8:21 PM in reply to: The Real Story Behind the Los Angeles County 6.6% Median Price Increase #32097ParticipantThere could be another explaination for why the lower income neighborhoods have been appreciating. It could well be that more homes are being bought there for investment because they are cheaper than everything else or it could be that many people are priced out of their first choice neighborhoods and are making do in less desirable areas.
ParticipantHousing runs on cycles. This cycle was unusual in the height of the spike (the last few years), which was caused by low interest rates and looser lending.
ParticipantI think there are more long-term owners in trouble than people think. Every group fell victim to the lure of the home ATM. The 2000s have been big conspicuous consumption years. Many of my mother’s generation have been taking money out of their houses and spending it. I know of a very middle class retirement age couple that refinanced their home to remove over 50k for their daughter’s wedding. Pure foolishness! They probably spent at least 10% of their net worth on a party!
August 10, 2006 at 8:12 PM in reply to: 100% more premium for SD because of “hotter” sunshine tax #31655ParticipantSunshine and heat seem to get a lot of extra credit these days. I read an article today about Las Vegas where the realtor claimed that it was the summer heat that drove buyers away. Then they went on to say that summer sales were down some 30% from last year. Last I heard, it is always hot during the summer there. People must be more heat sensitive this year.
ParticipantWe could do a running tally. Each person report 2 yes, 5 nos, etc. Then tally the numbers at the bottom.
Like:
For total of
10 yes, 2 maybe, 8 no
(just examples, not actual numbers)ParticipantSome results:
Yeah (early 20s male soccer coach)
Mild No (early 20s female soccer coach)
No Way! (30s business woman with high $ SD properties)
little laugh then a No (30s soccer mom)ParticipantI asked this on the thread:
Should we also ask people if they think a recession might be in the works?ParticipantShould we ask people if they think a recession might be in the works?
ParticipantWe should ask the same question in order to compare results. My suggestion:
Do you think housing prices in your neighborhood are going up, staying the same or going down?ParticipantI think I’ll have to ask people on the street. All of my friends and relatives have been hearing me blather on about the bubble for over a year now. Even if they thought prices are going up, I don’t know that they would say that to me!
ParticipantThere are two houses in my area that sold last year and are newly up for sale again. I’m wondering if they are in trouble. Does anyone have info on these houses?
1X Admiralty Cross, 92118
3X Green Turtle Road, 92118ParticipantI would not say that it has changed, rather that it is changing. There are still plenting of people who think RE only goes up. However, their numbers are shrinking.
Participant“military needs are second to civilian well-being”
This is typical of an entitlement society that can’t see the forest for the trees. -
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