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Rudee
ParticipantPlease stop. This is the epitome of the madness. Please. The world is insane.
WINNER.
Why and HOW did this ever get validity to be listed?
I have to go cry now…………ParticipantPlease stop. This is the epitome of the madness. Please. The world is insane.
WINNER.
Why and HOW did this ever get validity to be listed?
I have to go cry now…………ParticipantPlease stop. This is the epitome of the madness. Please. The world is insane.
WINNER.
Why and HOW did this ever get validity to be listed?
I have to go cry now…………ParticipantPlease stop. This is the epitome of the madness. Please. The world is insane.
WINNER.
Why and HOW did this ever get validity to be listed?
I have to go cry now…………ParticipantPlease stop. This is the epitome of the madness. Please. The world is insane.
WINNER.
Why and HOW did this ever get validity to be listed?
I have to go cry now…………ParticipantAnother quote from Robin Williams (from a stand up routine) that (kind of) sheds a light on the situation:
“And Canada? They’re at the best party in the world, but they’re stuck in the balcony”To a Canadian it’s very clear. Party’s over.
ParticipantAnother quote from Robin Williams (from a stand up routine) that (kind of) sheds a light on the situation:
“And Canada? They’re at the best party in the world, but they’re stuck in the balcony”To a Canadian it’s very clear. Party’s over.
ParticipantAnother quote from Robin Williams (from a stand up routine) that (kind of) sheds a light on the situation:
“And Canada? They’re at the best party in the world, but they’re stuck in the balcony”To a Canadian it’s very clear. Party’s over.
Participantsdr I agree. I live in Solana Beach, and most our friends come from a wide range of backgrounds/income sources (ER docs, ex pro athletes, pilots, attorneys), but most have owned their homes for 6-10 years and I haven’t seen any tom foolery (as far as I know) with HELOCs, expensive new cars, etc. – I love seeing my ER doc buddy going to work in his 17 year old beat up Land Cruiser. If anything three of our friends have invested in property outside of the US. Granted, most incomes are pretty up there though….
Participantsdr I agree. I live in Solana Beach, and most our friends come from a wide range of backgrounds/income sources (ER docs, ex pro athletes, pilots, attorneys), but most have owned their homes for 6-10 years and I haven’t seen any tom foolery (as far as I know) with HELOCs, expensive new cars, etc. – I love seeing my ER doc buddy going to work in his 17 year old beat up Land Cruiser. If anything three of our friends have invested in property outside of the US. Granted, most incomes are pretty up there though….
Participantsdr I agree. I live in Solana Beach, and most our friends come from a wide range of backgrounds/income sources (ER docs, ex pro athletes, pilots, attorneys), but most have owned their homes for 6-10 years and I haven’t seen any tom foolery (as far as I know) with HELOCs, expensive new cars, etc. – I love seeing my ER doc buddy going to work in his 17 year old beat up Land Cruiser. If anything three of our friends have invested in property outside of the US. Granted, most incomes are pretty up there though….
ParticipantRadelow, I’m beginning to agree with your coworker. Californians (and San Diegans) are reselient, and the vast majority made soooo much equity on their homes in the last 5 years that they will and can stay on the sidelines, or fool around with “entertaining” offers (I love that – please sir, may I buy your house?). In an overall picture, yes, we’ll see 15 -30% declines, but most will say “who cares? I still made 80%+ over the last 5 years. No need to panic.” The low to mid income areas will have some major correction (as usual), but the majority will cruise and hunker down. I’ve been through the nineties down turn, bought and sold houses, and I’m renting now, and yes, this is different. Loan practices,( even though they are tightening) are still free money compared to 15 years ago. Psychologically peoples mindsets have readjusted – if my housing is 50% of my income, so be it. We’ll adjust. Gas goes up to $4 a gallon, everyone will keep driving. People find a way. Combine equity+cheap money+mental reset and that’s a tough nut to crack.
ParticipantRadelow, I’m beginning to agree with your coworker. Californians (and San Diegans) are reselient, and the vast majority made soooo much equity on their homes in the last 5 years that they will and can stay on the sidelines, or fool around with “entertaining” offers (I love that – please sir, may I buy your house?). In an overall picture, yes, we’ll see 15 -30% declines, but most will say “who cares? I still made 80%+ over the last 5 years. No need to panic.” The low to mid income areas will have some major correction (as usual), but the majority will cruise and hunker down. I’ve been through the nineties down turn, bought and sold houses, and I’m renting now, and yes, this is different. Loan practices,( even though they are tightening) are still free money compared to 15 years ago. Psychologically peoples mindsets have readjusted – if my housing is 50% of my income, so be it. We’ll adjust. Gas goes up to $4 a gallon, everyone will keep driving. People find a way. Combine equity+cheap money+mental reset and that’s a tough nut to crack.
ParticipantRadelow, I’m beginning to agree with your coworker. Californians (and San Diegans) are reselient, and the vast majority made soooo much equity on their homes in the last 5 years that they will and can stay on the sidelines, or fool around with “entertaining” offers (I love that – please sir, may I buy your house?). In an overall picture, yes, we’ll see 15 -30% declines, but most will say “who cares? I still made 80%+ over the last 5 years. No need to panic.” The low to mid income areas will have some major correction (as usual), but the majority will cruise and hunker down. I’ve been through the nineties down turn, bought and sold houses, and I’m renting now, and yes, this is different. Loan practices,( even though they are tightening) are still free money compared to 15 years ago. Psychologically peoples mindsets have readjusted – if my housing is 50% of my income, so be it. We’ll adjust. Gas goes up to $4 a gallon, everyone will keep driving. People find a way. Combine equity+cheap money+mental reset and that’s a tough nut to crack.
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