[rb_engineer]

JWM, I understand your situation. I have co-workers who are in similar situation. They have waited for the last 10 years and are frustrated as you are. They want to buy in the nicest chick area (CV in their case) but don’t want to pay the hefty price.

My advice to them is that since they have waited this long, they might as well wait a little more to see their idea play out. It looks though, as they look at more and more houses, they are more inclined to pull the trigger. After all, having your own house is quite enjoyable even with all the work and cost involved.

[rb_engineer]

JWM, Hmm. Sounds like you are feeling the heat. Why are you being confrontational? We are just here to share our thoughts.

We’ve all seen theories (like the primer) and the stuff you mention. They are a piece of the puzzle but not the whole story. The economy is too large and complex to be modeled with foreclosure graphs and charts. That’s why we have economists, although I’m sure that you’ll say they are quacks.

I would love to get an opportunity to buy a charming La Jolla/Del Mar home with an ocean view but cheap enough for me to rent it out and still break even. Do you really think that will happen? I’m sure you’ll jump in and buy it before that happens.

[rb_engineer]

JWM, Hmm. Sounds like you are feeling the heat. Why are you being confrontational? We are just here to share our thoughts.

We’ve all seen theories (like the primer) and the stuff you mention. They are a piece of the puzzle but not the whole story. The economy is too large and complex to be modeled with foreclosure graphs and charts. That’s why we have economists, although I’m sure that you’ll say they are quacks.

I would love to get an opportunity to buy a charming La Jolla/Del Mar home with an ocean view but cheap enough for me to rent it out and still break even. Do you really think that will happen? I’m sure you’ll jump in and buy it before that happens.

[rb_engineer]

I’m not sure if these name calling and scare tactics by the housing bears will convince anyone. Its pretty clear that no one know for sure. There are anecdotal evidence to support both camps. My anecdotal take is that actual selling prices have come down 10% – 20% from the very peak but houses are getting snatched up very quickly if they are at these prices. This would suggest an equilibrium at a price somewhere in between. That is, at least for the current state of the economy.

[rb_engineer]

I’m not sure if these name calling and scare tactics by the housing bears will convince anyone. Its pretty clear that no one know for sure. There are anecdotal evidence to support both camps. My anecdotal take is that actual selling prices have come down 10% – 20% from the very peak but houses are getting snatched up very quickly if they are at these prices. This would suggest an equilibrium at a price somewhere in between. That is, at least for the current state of the economy.

[rb_engineer]

Yes, finally someone has said it. I’ve been a longtime reader here and I believe that for this blog to thrive, it needs to cover a wider topic. Ie, RE investment ideas, up and coming locations, hidden jewels etc. We all know that everyone reading the blog are very eager to be in the game.

[rb_engineer]

Yes, finally someone has said it. I’ve been a longtime reader here and I believe that for this blog to thrive, it needs to cover a wider topic. Ie, RE investment ideas, up and coming locations, hidden jewels etc. We all know that everyone reading the blog are very eager to be in the game.

[rb_engineer]

I agree with regard to cancellations. As for interest rates, I think it is not certain it continue going up. It could take a breather in the next few weeks after a huge run up it had. Could be a good gamble to float.

[rb_engineer]

I agree with regard to cancellations. As for interest rates, I think it is not certain it continue going up. It could take a breather in the next few weeks after a huge run up it had. Could be a good gamble to float.

[rb_engineer]

Just commenting on this specific situation: If these sold all in 1 day. I can’t imagine prices coming down anymore anytime soon. You’d be lucky if they didn’t go up.

[rb_engineer]

Just commenting on this specific situation: If these sold all in 1 day. I can’t imagine prices coming down anymore anytime soon. You’d be lucky if they didn’t go up.

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