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protorio
ParticipantAh, we (first time buyers, waiting & watching for about 7 years) closed last month and I remember a freak out moment in early November when we locked in our loan rate. It wasn’t so much the rate (which is quite low), but the “timeline” and trajectory toward finality that it put us on. This was really happening, and we were going to be on a budget unlike the one we lived under as renters.
When you decide to buy – which for us meant we loved the house, could afford the payments on a fixed rate mortgage, and it was big enough that we wouldn’t “grow out of it” with two small children – then I think you have to exit the “bearish analyst mindset” and just live in the house and don’t worry about value. In this market, if you can find a house that you can enjoy and live in for at least 10 years, there are a lot of good deals out there. But its a long term strategy. Stop worrying about value and live in a house you like and can afford.
In escrow, I remember watching “The Road” based on the novel by Cormac McCarthy, and thinking, “I could end up like this guy if I buy this house!” Pretty silly. Send the “gold and ammo” Armageddon thinking that streams through the hysterical blogosphere back where it came from: some sorry-a$$ cubicle.
ParticipantYea – kids are happy if their parents are happy. Doesn’t matter where.
That being said, as someone in escrow, I do look forward to my kids inhabiting the house, yard, and neighborhood. My parents still live in the house I grew up in — its different for everybody, but I’ll say that when I go over there and see Mr. and Mrs. so and so from my childhood and my old friends walking by its pretty rich. Not necessary, for sure — but rich nonetheless.
The second reason I hadn’t bought until now (#1 = speculative bubble) is the extent of homeownership that’s purely ideological in the U.S. I’m still very skeptical of that, especially with children. Its mostly folly. But I am a part of this culture, and will, I’m sure, enjoy some of the ideological detritus while eating porridge for dinner.
Without having to explain too much, its just the right time for us.
ParticipantYea – kids are happy if their parents are happy. Doesn’t matter where.
That being said, as someone in escrow, I do look forward to my kids inhabiting the house, yard, and neighborhood. My parents still live in the house I grew up in — its different for everybody, but I’ll say that when I go over there and see Mr. and Mrs. so and so from my childhood and my old friends walking by its pretty rich. Not necessary, for sure — but rich nonetheless.
The second reason I hadn’t bought until now (#1 = speculative bubble) is the extent of homeownership that’s purely ideological in the U.S. I’m still very skeptical of that, especially with children. Its mostly folly. But I am a part of this culture, and will, I’m sure, enjoy some of the ideological detritus while eating porridge for dinner.
Without having to explain too much, its just the right time for us.
ParticipantYea – kids are happy if their parents are happy. Doesn’t matter where.
That being said, as someone in escrow, I do look forward to my kids inhabiting the house, yard, and neighborhood. My parents still live in the house I grew up in — its different for everybody, but I’ll say that when I go over there and see Mr. and Mrs. so and so from my childhood and my old friends walking by its pretty rich. Not necessary, for sure — but rich nonetheless.
The second reason I hadn’t bought until now (#1 = speculative bubble) is the extent of homeownership that’s purely ideological in the U.S. I’m still very skeptical of that, especially with children. Its mostly folly. But I am a part of this culture, and will, I’m sure, enjoy some of the ideological detritus while eating porridge for dinner.
Without having to explain too much, its just the right time for us.
ParticipantYea – kids are happy if their parents are happy. Doesn’t matter where.
That being said, as someone in escrow, I do look forward to my kids inhabiting the house, yard, and neighborhood. My parents still live in the house I grew up in — its different for everybody, but I’ll say that when I go over there and see Mr. and Mrs. so and so from my childhood and my old friends walking by its pretty rich. Not necessary, for sure — but rich nonetheless.
The second reason I hadn’t bought until now (#1 = speculative bubble) is the extent of homeownership that’s purely ideological in the U.S. I’m still very skeptical of that, especially with children. Its mostly folly. But I am a part of this culture, and will, I’m sure, enjoy some of the ideological detritus while eating porridge for dinner.
Without having to explain too much, its just the right time for us.
ParticipantYea – kids are happy if their parents are happy. Doesn’t matter where.
That being said, as someone in escrow, I do look forward to my kids inhabiting the house, yard, and neighborhood. My parents still live in the house I grew up in — its different for everybody, but I’ll say that when I go over there and see Mr. and Mrs. so and so from my childhood and my old friends walking by its pretty rich. Not necessary, for sure — but rich nonetheless.
The second reason I hadn’t bought until now (#1 = speculative bubble) is the extent of homeownership that’s purely ideological in the U.S. I’m still very skeptical of that, especially with children. Its mostly folly. But I am a part of this culture, and will, I’m sure, enjoy some of the ideological detritus while eating porridge for dinner.
Without having to explain too much, its just the right time for us.
ParticipantCongratulations. I was also going to post something similar – after nearly 10 years of thinking about it, and a good 5 years of reading this blog and others (BMIT, HBB, Jim K., etc), we’re in escrow too. Things came together for us (price, value, selection!) on a SFR that we (with two small kids) won’t grow out of. I still have great arguments for renting, and I’m bearish on housing in general – but it feels about right. I’ll have to just keep telling myself that!
ParticipantCongratulations. I was also going to post something similar – after nearly 10 years of thinking about it, and a good 5 years of reading this blog and others (BMIT, HBB, Jim K., etc), we’re in escrow too. Things came together for us (price, value, selection!) on a SFR that we (with two small kids) won’t grow out of. I still have great arguments for renting, and I’m bearish on housing in general – but it feels about right. I’ll have to just keep telling myself that!
ParticipantCongratulations. I was also going to post something similar – after nearly 10 years of thinking about it, and a good 5 years of reading this blog and others (BMIT, HBB, Jim K., etc), we’re in escrow too. Things came together for us (price, value, selection!) on a SFR that we (with two small kids) won’t grow out of. I still have great arguments for renting, and I’m bearish on housing in general – but it feels about right. I’ll have to just keep telling myself that!
ParticipantCongratulations. I was also going to post something similar – after nearly 10 years of thinking about it, and a good 5 years of reading this blog and others (BMIT, HBB, Jim K., etc), we’re in escrow too. Things came together for us (price, value, selection!) on a SFR that we (with two small kids) won’t grow out of. I still have great arguments for renting, and I’m bearish on housing in general – but it feels about right. I’ll have to just keep telling myself that!
ParticipantCongratulations. I was also going to post something similar – after nearly 10 years of thinking about it, and a good 5 years of reading this blog and others (BMIT, HBB, Jim K., etc), we’re in escrow too. Things came together for us (price, value, selection!) on a SFR that we (with two small kids) won’t grow out of. I still have great arguments for renting, and I’m bearish on housing in general – but it feels about right. I’ll have to just keep telling myself that!
Participant[quote=jstoesz]Yeah, the state is a magnet for the irresponsible[/quote]
I think there’s often a conflation of time and space. Many other folks who’ve arrived in San Diego in their adulthood have memories of faraway hometowns from the 60s, 70s, or even 80s – and the San Diego of the 2000s+ seems materialistic, irresponsible, expensive. Because of the maturation of consumer culture over the last 30 years, these properties are found nationwide. Here in San Diego, there are enough people who can achieve material excess, and plenty who aspire to it. But the vast majority are normal folks. Once you see past the perceived stereotypes, its a city full of honest, hardworking people.
Locals have to deal with this at Padre games all the time: people living in San Diego who are brash about their old hometeams and hostile to their “host” city. And San Diegans – well, we don’t really care – just spend your money and have a good time. Its not that people are passive here, its just that most of us like where we live and don’t need to say much more. As housing grows more (relatively) affordable, then that helps us stay here.
Go down to Tio Leo’s on Morena and take a good look at the illuminated photo by the hostess stand. I love that photo. Its probably from the early 70s. It shows the San Diego of my childhood – a small, mellow town. I long for that place. But I know that the city has grown, but having a long memory, I know that that the spirit of that small town still exists in the people and neighborhoods of today. Keep in mind that back then, I used to ride my BMX around the dusty hills that’s now Carmel Valley.
We’ve all been paying careful attention to the housing bubble. We know this was a national (indeed international – ask people from Ireland & Spain) phenomenon. The irresponsibility is widespread.
Its just that San Diego, LA, SF, etc. are expensive – more expensive than MN or IA. So is NYC and Boston. I love the Twin Cities. But historical market forces say that this is a more desirable place to live. So, it costs more. Its just really up to individuals as to where they want to live.
Participant[quote=jstoesz]Yeah, the state is a magnet for the irresponsible[/quote]
I think there’s often a conflation of time and space. Many other folks who’ve arrived in San Diego in their adulthood have memories of faraway hometowns from the 60s, 70s, or even 80s – and the San Diego of the 2000s+ seems materialistic, irresponsible, expensive. Because of the maturation of consumer culture over the last 30 years, these properties are found nationwide. Here in San Diego, there are enough people who can achieve material excess, and plenty who aspire to it. But the vast majority are normal folks. Once you see past the perceived stereotypes, its a city full of honest, hardworking people.
Locals have to deal with this at Padre games all the time: people living in San Diego who are brash about their old hometeams and hostile to their “host” city. And San Diegans – well, we don’t really care – just spend your money and have a good time. Its not that people are passive here, its just that most of us like where we live and don’t need to say much more. As housing grows more (relatively) affordable, then that helps us stay here.
Go down to Tio Leo’s on Morena and take a good look at the illuminated photo by the hostess stand. I love that photo. Its probably from the early 70s. It shows the San Diego of my childhood – a small, mellow town. I long for that place. But I know that the city has grown, but having a long memory, I know that that the spirit of that small town still exists in the people and neighborhoods of today. Keep in mind that back then, I used to ride my BMX around the dusty hills that’s now Carmel Valley.
We’ve all been paying careful attention to the housing bubble. We know this was a national (indeed international – ask people from Ireland & Spain) phenomenon. The irresponsibility is widespread.
Its just that San Diego, LA, SF, etc. are expensive – more expensive than MN or IA. So is NYC and Boston. I love the Twin Cities. But historical market forces say that this is a more desirable place to live. So, it costs more. Its just really up to individuals as to where they want to live.
Participant[quote=jstoesz]Yeah, the state is a magnet for the irresponsible[/quote]
I think there’s often a conflation of time and space. Many other folks who’ve arrived in San Diego in their adulthood have memories of faraway hometowns from the 60s, 70s, or even 80s – and the San Diego of the 2000s+ seems materialistic, irresponsible, expensive. Because of the maturation of consumer culture over the last 30 years, these properties are found nationwide. Here in San Diego, there are enough people who can achieve material excess, and plenty who aspire to it. But the vast majority are normal folks. Once you see past the perceived stereotypes, its a city full of honest, hardworking people.
Locals have to deal with this at Padre games all the time: people living in San Diego who are brash about their old hometeams and hostile to their “host” city. And San Diegans – well, we don’t really care – just spend your money and have a good time. Its not that people are passive here, its just that most of us like where we live and don’t need to say much more. As housing grows more (relatively) affordable, then that helps us stay here.
Go down to Tio Leo’s on Morena and take a good look at the illuminated photo by the hostess stand. I love that photo. Its probably from the early 70s. It shows the San Diego of my childhood – a small, mellow town. I long for that place. But I know that the city has grown, but having a long memory, I know that that the spirit of that small town still exists in the people and neighborhoods of today. Keep in mind that back then, I used to ride my BMX around the dusty hills that’s now Carmel Valley.
We’ve all been paying careful attention to the housing bubble. We know this was a national (indeed international – ask people from Ireland & Spain) phenomenon. The irresponsibility is widespread.
Its just that San Diego, LA, SF, etc. are expensive – more expensive than MN or IA. So is NYC and Boston. I love the Twin Cities. But historical market forces say that this is a more desirable place to live. So, it costs more. Its just really up to individuals as to where they want to live.
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