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September 26, 2008 at 9:01 AM in reply to: What would be decline price in San Diego with in 6 months? #276183September 26, 2008 at 9:01 AM in reply to: What would be decline price in San Diego with in 6 months? #276185
peterb
ParticipantI think total capitulation will take a little longer just by seeing all the people on this site that are still eager to buy at the “right” price. I still remember in 1995 that most people I talked with thought RE was a waste of money. I dont see that yet. In 1994 there were nice 2 bdrm condo’s on the beach in Newport Beach for $99K. And they were’nt selling. I think we’ll need a couple more false bottoms to get sentiment totally negative. All the people that thought a bottom was in need to buy and then see it drop another 25%. Basically, when I see just about everyone on this site saying to wait, then we’ll be near a bottom. Old beliefs die hard. I’d say another 2 years may do it.
September 26, 2008 at 9:01 AM in reply to: What would be decline price in San Diego with in 6 months? #276234ParticipantI think total capitulation will take a little longer just by seeing all the people on this site that are still eager to buy at the “right” price. I still remember in 1995 that most people I talked with thought RE was a waste of money. I dont see that yet. In 1994 there were nice 2 bdrm condo’s on the beach in Newport Beach for $99K. And they were’nt selling. I think we’ll need a couple more false bottoms to get sentiment totally negative. All the people that thought a bottom was in need to buy and then see it drop another 25%. Basically, when I see just about everyone on this site saying to wait, then we’ll be near a bottom. Old beliefs die hard. I’d say another 2 years may do it.
September 26, 2008 at 9:01 AM in reply to: What would be decline price in San Diego with in 6 months? #276249ParticipantI think total capitulation will take a little longer just by seeing all the people on this site that are still eager to buy at the “right” price. I still remember in 1995 that most people I talked with thought RE was a waste of money. I dont see that yet. In 1994 there were nice 2 bdrm condo’s on the beach in Newport Beach for $99K. And they were’nt selling. I think we’ll need a couple more false bottoms to get sentiment totally negative. All the people that thought a bottom was in need to buy and then see it drop another 25%. Basically, when I see just about everyone on this site saying to wait, then we’ll be near a bottom. Old beliefs die hard. I’d say another 2 years may do it.
ParticipantI can undserstand there are many personal reasons for buying at this time, but consider the direction things are headed.
Unemployment is a real estate killer! And it’s getting up a head of steam right now.
we’re headed into the worst season for home sales.
An absolute deluge of distressed properties are coming in the next 12 months.The only caveat I can think of is that loans will probably be more difficult to get.
If you can wait 2 to 3 months, there’s a good chance you’ll get another 20% off. I could be wrong, but I doubt it. I cannot find one factor that is not highly negative for the real estate market in the next year.
But, if you buy right now, at least your were getting it lower than 2 years ago. And there’s nothing wrong with that.
ParticipantI can undserstand there are many personal reasons for buying at this time, but consider the direction things are headed.
Unemployment is a real estate killer! And it’s getting up a head of steam right now.
we’re headed into the worst season for home sales.
An absolute deluge of distressed properties are coming in the next 12 months.The only caveat I can think of is that loans will probably be more difficult to get.
If you can wait 2 to 3 months, there’s a good chance you’ll get another 20% off. I could be wrong, but I doubt it. I cannot find one factor that is not highly negative for the real estate market in the next year.
But, if you buy right now, at least your were getting it lower than 2 years ago. And there’s nothing wrong with that.
ParticipantI can undserstand there are many personal reasons for buying at this time, but consider the direction things are headed.
Unemployment is a real estate killer! And it’s getting up a head of steam right now.
we’re headed into the worst season for home sales.
An absolute deluge of distressed properties are coming in the next 12 months.The only caveat I can think of is that loans will probably be more difficult to get.
If you can wait 2 to 3 months, there’s a good chance you’ll get another 20% off. I could be wrong, but I doubt it. I cannot find one factor that is not highly negative for the real estate market in the next year.
But, if you buy right now, at least your were getting it lower than 2 years ago. And there’s nothing wrong with that.
ParticipantI can undserstand there are many personal reasons for buying at this time, but consider the direction things are headed.
Unemployment is a real estate killer! And it’s getting up a head of steam right now.
we’re headed into the worst season for home sales.
An absolute deluge of distressed properties are coming in the next 12 months.The only caveat I can think of is that loans will probably be more difficult to get.
If you can wait 2 to 3 months, there’s a good chance you’ll get another 20% off. I could be wrong, but I doubt it. I cannot find one factor that is not highly negative for the real estate market in the next year.
But, if you buy right now, at least your were getting it lower than 2 years ago. And there’s nothing wrong with that.
ParticipantI can undserstand there are many personal reasons for buying at this time, but consider the direction things are headed.
Unemployment is a real estate killer! And it’s getting up a head of steam right now.
we’re headed into the worst season for home sales.
An absolute deluge of distressed properties are coming in the next 12 months.The only caveat I can think of is that loans will probably be more difficult to get.
If you can wait 2 to 3 months, there’s a good chance you’ll get another 20% off. I could be wrong, but I doubt it. I cannot find one factor that is not highly negative for the real estate market in the next year.
But, if you buy right now, at least your were getting it lower than 2 years ago. And there’s nothing wrong with that.
September 25, 2008 at 9:25 PM in reply to: What would be decline price in San Diego with in 6 months? #275481ParticipantReal unemployment in CA is probably around 10% and rising. Alt A, Prime and jumbo prime are lining up to be a foreclosure storm. Upside down walk-aways are ramping up.These are loans that probably concentrate inthe upper tier areas. What a combo! There’s a good chance that congress will try to intervene. But the speed and effectiveness will be critical.
As other countries around the world see what we’re doing and begin to experience their own recessions, there’s a good chance they will start to pull away from our debt markets and holding their US$. There’s lots of evidence of this happening right now.
What happens when the the US goes to float more Treasuries and there’s no takers? Raise the rate? There may be very strong mechanisms that wont allow a rescue for homeowners. But if a plan is put in place, it could have such devistation on the value of the US$ as to be the same as a major housing price reduction anyway.
September 25, 2008 at 9:25 PM in reply to: What would be decline price in San Diego with in 6 months? #275733ParticipantReal unemployment in CA is probably around 10% and rising. Alt A, Prime and jumbo prime are lining up to be a foreclosure storm. Upside down walk-aways are ramping up.These are loans that probably concentrate inthe upper tier areas. What a combo! There’s a good chance that congress will try to intervene. But the speed and effectiveness will be critical.
As other countries around the world see what we’re doing and begin to experience their own recessions, there’s a good chance they will start to pull away from our debt markets and holding their US$. There’s lots of evidence of this happening right now.
What happens when the the US goes to float more Treasuries and there’s no takers? Raise the rate? There may be very strong mechanisms that wont allow a rescue for homeowners. But if a plan is put in place, it could have such devistation on the value of the US$ as to be the same as a major housing price reduction anyway.
September 25, 2008 at 9:25 PM in reply to: What would be decline price in San Diego with in 6 months? #275735ParticipantReal unemployment in CA is probably around 10% and rising. Alt A, Prime and jumbo prime are lining up to be a foreclosure storm. Upside down walk-aways are ramping up.These are loans that probably concentrate inthe upper tier areas. What a combo! There’s a good chance that congress will try to intervene. But the speed and effectiveness will be critical.
As other countries around the world see what we’re doing and begin to experience their own recessions, there’s a good chance they will start to pull away from our debt markets and holding their US$. There’s lots of evidence of this happening right now.
What happens when the the US goes to float more Treasuries and there’s no takers? Raise the rate? There may be very strong mechanisms that wont allow a rescue for homeowners. But if a plan is put in place, it could have such devistation on the value of the US$ as to be the same as a major housing price reduction anyway.
September 25, 2008 at 9:25 PM in reply to: What would be decline price in San Diego with in 6 months? #275784ParticipantReal unemployment in CA is probably around 10% and rising. Alt A, Prime and jumbo prime are lining up to be a foreclosure storm. Upside down walk-aways are ramping up.These are loans that probably concentrate inthe upper tier areas. What a combo! There’s a good chance that congress will try to intervene. But the speed and effectiveness will be critical.
As other countries around the world see what we’re doing and begin to experience their own recessions, there’s a good chance they will start to pull away from our debt markets and holding their US$. There’s lots of evidence of this happening right now.
What happens when the the US goes to float more Treasuries and there’s no takers? Raise the rate? There may be very strong mechanisms that wont allow a rescue for homeowners. But if a plan is put in place, it could have such devistation on the value of the US$ as to be the same as a major housing price reduction anyway.
September 25, 2008 at 9:25 PM in reply to: What would be decline price in San Diego with in 6 months? #275801ParticipantReal unemployment in CA is probably around 10% and rising. Alt A, Prime and jumbo prime are lining up to be a foreclosure storm. Upside down walk-aways are ramping up.These are loans that probably concentrate inthe upper tier areas. What a combo! There’s a good chance that congress will try to intervene. But the speed and effectiveness will be critical.
As other countries around the world see what we’re doing and begin to experience their own recessions, there’s a good chance they will start to pull away from our debt markets and holding their US$. There’s lots of evidence of this happening right now.
What happens when the the US goes to float more Treasuries and there’s no takers? Raise the rate? There may be very strong mechanisms that wont allow a rescue for homeowners. But if a plan is put in place, it could have such devistation on the value of the US$ as to be the same as a major housing price reduction anyway.
Participant870’s the king. No doubt about it. Ask anyone who’s lived with one. Bang for the buck.
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