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I really like Meadows Del Mar, but I’ve only been there once. I would definitely think you could find something to your liking up there.

That said, I’m in the rent camp as well. I always wonder who rents places for $5,000 a month-plus, but it must be guys like yourself. Still gotta be cheaper than a mortgage on a 3 million dollar place. Even if you’ve got a big down payment, that money can work for you while you rent.

Santaluz has a constant stream available. Some might even have a little space around them, but you probably can live without an acre with a rental.

The only thing to watch out for is owners in trouble and Santaluz appears to have no shortage of those. You want to make sure you move out on your terms, not some flipper’s.

Anyway, I’m sure there’s stuff in Fairbanks and RSF as well.

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ocrenter– Just confirming what LostCat said, but yeah, those apartments are the section 8s.

On Mello-Roos, I’m curious if anybody knows the extent to which developers used to cover those costs. It’s really quite amazing they’ve been able to sucker people into paying a higher percentage of higher property values for it.

It seems like both the city governments and developers have colluded to extort ridiculous amounts of money from new homebuyers. Poway must love the money they’re getting. 4S Ranch and Del Sur must have helped with their recent major remodels of Poway High School and Midland Elementary. The latter of which was basically torn down and re-built, and neither of which serves 4S or Del Sur.

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Raybyrnes– If you had family income of $250K a year, you’d look elsewhere. People who make that kind of money have a whole ‘nother level of expectations.

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There are section 8s between Del Sur and 4S Ranch (closer to Del Sur actually).

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You didn’t see it because that’s not news. I’m sure California would have been at or near the top of any such poll for longer than many of us have been alive.

It didn’t suddenly get nicer and people don’t suddenly want to move here any more than they did before the bubble.

Sheesh. You should duck.

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Avaron’s signage has been updated to say from $1.1 million. I noticed this a week or so ago. It used to be $1.4 or $1.5. I don’t follow the development, so I can’t say exactly how much they’ve lowered the price with regard to specific models.

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an– I hear you and think we agree for the most part. I just think people who are on the fence and do have serious doubts aren’t necessarily helped by the lure of an outcome that might well not be theirs.

What I’m saying is that while it’s good to look to history, it’s probably best to avoid specific scenarios because there will always be winners and losers. And mostly because very few of us have absolute control over our destinies.

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Wasn’t asking you to. Just pointing out ways that your theory breaks down. And again, to my real point–me no care about 1989. I know plenty of people who bought in that timeframe who got trapped in a house they didn’t want and subsequently lost money on.

The point is, anything can happen. Doesn’t change the fact that, in general, now would be a bad time to buy (with the distinct potential of being a *really* bad time).

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an– Didn’t say your parents were the only ones, just that they were the ones you were using in your example. I have no doubt thousands (10s, 100s?) of people have 18 year old mortgages. You just don’t know them personally.

I also question if all these people can pay it off so easily. If they can, then why don’t they? Also, don’t be surprised if at least one or two of those thousands have borrowed against their equity. I’m sure some have borrowed far more than the original loan amount. Not saying this is your folks, but you’re the one who mentioned all these other people.

Frankly, I forget why we’re talking about people who bought almost twenty years ago.

Oh yeah, because that proves that it can’t be a poor decision to buy right now.

Well, that’s just silly.

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nurses, pharmacists, dentist, optometrist, etc.

Actually, I think you listed them in the proper order for most-to-least recession proof with the possibility of swapping dentists and optometrists.

If you think people who are having tougher times economically aren’t going to cut back on glasses and dentist visits (especially if they no longer have insurance), I think you’d be flat out surprised. Further, look how much both of those cater to the cosmetic side of the business nowadays. If more people wear their glasses longer and go with silver fillings instead of composites (and a boat load of other “services”), you can bet optometrists and dentists are going to feel the squeeze.

And, who do you think is going to feel it first? The docs? Nope, they’ll let staffers go before they cut back on their lifestyles…

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My parents for example bought their house in 1989 and still living there now.

Well, now we know where your 18-year “hypothetical” came from. The only part I’m not sure you have right is that they’ve got it almost paid off as a) 12 years still represents significant remaining P&I outlay and b) it’s usually not typical for children to know their parents payoff. Unless, of course, you were referring to a different hypothetical…

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stockstradr– I was going to go myself one better, but I figured there was somebody out there that actually had real-life numbers for condo rents in RB. Better to hear from you than for me to guess or spend the time doing the proper research. Thanks!

So wantobuy, using the $1700 figure, you’d be losing another six grand a year on top of the depreciation. Sign me up!

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wantobuy– are you sure you’re comparing apples to apples? You can rent a house in RB for $2200 a month.

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While it’s fair to suggest that wantobuy consider his relationship and commitment to his wife, it’s equally fair that his wife consider hers.

I know my wife wasn’t crazy about our decision to rent almost a year ago, but she’s done a complete 180. She even thanked me for it the other day, something about it being a really good decision…

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schizo– Yes, it’s difficult to predict things, especially as time horizons increase, but as bugs pointed out a few days ago, the one thing you can be pretty certain is prices will continue to go down next month.

While it’s fair to suggest that people stating where thing are going to be in 2010 (or whatever) could well be wrong, there’s an overwhelming probability that your statement that “today could be the bottom” is wrong.

Again, I say what’s the rush? House, condo, I don’t care, they’ll both go down in price before they go up if you buy them today.

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