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Oh – and I forgot:
The tile is

“Home prices fell 6.6 percent in 1Q”

but inside the article it says:

“The national median existing single-family home price was $212,300, down 1.8 percent from a year ago ”

Was this written by a third-grader ?

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You know, rustico – just let it go.
You are harping on sdrealtor for no reason.

He has been here a long time and always provides an interesting angle so – a little respect, please.

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I don’t know about Bay Park, but there’s some problems with shifting fill in Bay Ho – up above the Morena Costco.

I like that part of Bay Park, myself. Couldn’t afford it when I bought in Clairmont.

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gn,

There is a third kind of poster – those who don’t know much about real estate but have latched onto the bubble theories presented here and translate them into “the sky is falling now – huge crash coming tomorrow”

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“It’s like showing up to a Weight watchers’ meeting and saying, ‘geez, most of you folks are pretty fat’ ”

HAHAHAHAHA. Very well put.

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By the way, it is really annoying when people presume your identity by what you post.

i.e. “realtor”, “home owner or employed in real estate”, etc.

That is soooooooooo powayseller, and more often that not you get it wrong and just look stupid.

Also, it just validates his point that there are a bunch of disgrutled people here. Answer the guy’s questions and present your argument. Presuming his profession and/or financial status doesn’t convince anyone of anything.

The guy just has a different view of the market – chill out.

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To the original poster:

I like your post, but here are some non-disgruntled thoughts for you – hope we can have a civil discussion here.

Have you ever heard of the concept of the boiling frog?
Supposedly (but I don’t think they’ll prove this one on Mythbusters) if you put a frog in boiling water, he’ll leap out immediately. However, if you put a frog in cold water and slowly heat it up, you can basically boil it without it getting out. This is the best description of how this housing market is going. Buyers are getting boiled slowly and they don’t even realize it.

I agree too many people here expect the market to drop, like a stock market crash. In fact, it will continue to slide slowly down for a long, long time.

This makes it difficult to see the past, present and future deflation of the bubble. Looking at the current status will always show the market isn’t too bad. It isn’t dropping too fast. There are always some buyers who will need to buy a home.

I do think your post lacks data at all. Check out the tagline at the bottom of this forum “In God We Trust. Everyone Else Bring Data.” Going out into the field is interesting, but because the market varies so much by neighborhood, it is not a good way to gauge the county-wide market. Such anecdotal evidence is exactly the kind of thing that the founder of this forum wanted to avoid.

I won’t say that the market now is really bad. What is bad is the foundation on which the market is riding. It is looking pretty crumbly.

The growing months of inventory, rising foreclosures, the tightening of the credit markets, dropping price per square foot, outmigration, retail sales crash in April. What conditions do you see that will keep this market healthy? Answer me that one.

The boiling frog looks at the current state of the market.
The smart frog looks at the underlying conditions that suggest how the market will be in the future.

I bought in Clairemont 8 years ago. The home has tripled in value. By stopping at “for sale” signs, regularly, I see prices have been pretty stable this year – only down a couple percent.

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I’ll confirm one more “cut off all contact”

I would also say – keep yourself very, very, very busy. Don’t sit around reading books and watching TV. Go rent a jet ski, find a sports league to play in, take welding classes or something like that. Before you know it, it’ll be a year down the road and you’ll be ready for the next thing.

Find a good “rebound” relationship helps, too. Throw that in with “keep yourself busy” and you’ll be through it.

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A different way of seeing the benefit of owning.

If I live for 60 years after moving out of my parents’ house, I’d rather pay a mortgage for 30, then nothing for 30 than pay rent for 60.

Especially since I will be paying the same mortgage in years 29 & 30 that I was in year 1, while rent will only go up and up.

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Hey – maybe Docteur will come back now !!!

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“You are the first banning ever-congratulations.”

I’m glad to see something good has come of this.

In the words of the great San Diegan, Jeff Spicoli :
Awesome – totally awesome !

I’m done with this thread and, thankfully, powayseller.

D

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I’m thinking the answer to this thread:

http://piggington.com/does_powayseller_post_too_much

is “yes”, then ?

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As I walk through the halls at work, the words “Rich Poo Poo Head” pop into my head for no apparent reason and I simply bust out laughing. That really struck my funny bone.

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I think he maybe talking about the wall-street side of the subprime paper market, not so much the real-estate market.

i.e. the market will solve what to do with all that paper, but the effect on who can get loans will still be there.

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AH, jeez, lniles – that’s funny. Yer killin’ me.

I like how she lists one of her consulting credentials as “avoided investing in tech stocks in 1999” – a credential shared by her and most 10-year olds.

Strangely, “gambled big on the S&P 500 crash of Spring 2007 and lost my ass” isn’t listed.

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