[sdnerd]

I believe the point TANSTAAFL was trying to make in re: to Temecula was – just because Temecula falls X percentage, does not mean the coastal areas or RSF, etc will do the same.

It’s all connected, but as it works it’s way in the price declines will probably decrease.

[sdnerd]

I think at this point it’s obvious the government is going to do something, and that great unknown as to exactly what is unsettling.

Debt forgiveness, re-negotiating rates, major foreclosure prevention, etc. There are a lot of possible scenarios that could keep people in their homes, and create a pricing floor.

So while they can’t stop the train, and those who have already been run over are toast, I can see the government stepping in to slow it down.

If they are able to manage that, it could end up helping the more desirable locations, and higher end homes the most since they will be the last to have heavy decline in most markets. Lower and middle class get steamrolled, upper class gets saved in the nick of time? (Even though in many cases people buying these homes can’t wildly afford them)

And the part that has me concerned is, as a saver – keeping liquid funds these days is getting harder & harder. Where do you put it? Interest rates keep getting cut, stock market is volatile, and inflation is going up. The 5% high interest accounts are quickly going away, and soon it’ll be 2-3%. Once you tax that, and factor in inflation – say goodbye to the money.

Maybe we’ll all be on this board 5 years from now.. still waiting for those significant price declines in the nicer parts of town, watching our savings get eaten away, while a lot of people who overstretched live beyond their means via government intervention. Life isn’t fair and all that?

Maybe not – who knows. Someone wake me up when CV, RSF, La Jolla, or any of the other commonly desired locations has anything significant of a price drop that doesn’t get multiple offers the next day.

[sdnerd]

I think at this point it’s obvious the government is going to do something, and that great unknown as to exactly what is unsettling.

Debt forgiveness, re-negotiating rates, major foreclosure prevention, etc. There are a lot of possible scenarios that could keep people in their homes, and create a pricing floor.

So while they can’t stop the train, and those who have already been run over are toast, I can see the government stepping in to slow it down.

If they are able to manage that, it could end up helping the more desirable locations, and higher end homes the most since they will be the last to have heavy decline in most markets. Lower and middle class get steamrolled, upper class gets saved in the nick of time? (Even though in many cases people buying these homes can’t wildly afford them)

And the part that has me concerned is, as a saver – keeping liquid funds these days is getting harder & harder. Where do you put it? Interest rates keep getting cut, stock market is volatile, and inflation is going up. The 5% high interest accounts are quickly going away, and soon it’ll be 2-3%. Once you tax that, and factor in inflation – say goodbye to the money.

Maybe we’ll all be on this board 5 years from now.. still waiting for those significant price declines in the nicer parts of town, watching our savings get eaten away, while a lot of people who overstretched live beyond their means via government intervention. Life isn’t fair and all that?

Maybe not – who knows. Someone wake me up when CV, RSF, La Jolla, or any of the other commonly desired locations has anything significant of a price drop that doesn’t get multiple offers the next day.

[sdnerd]

I think at this point it’s obvious the government is going to do something, and that great unknown as to exactly what is unsettling.

Debt forgiveness, re-negotiating rates, major foreclosure prevention, etc. There are a lot of possible scenarios that could keep people in their homes, and create a pricing floor.

So while they can’t stop the train, and those who have already been run over are toast, I can see the government stepping in to slow it down.

If they are able to manage that, it could end up helping the more desirable locations, and higher end homes the most since they will be the last to have heavy decline in most markets. Lower and middle class get steamrolled, upper class gets saved in the nick of time? (Even though in many cases people buying these homes can’t wildly afford them)

And the part that has me concerned is, as a saver – keeping liquid funds these days is getting harder & harder. Where do you put it? Interest rates keep getting cut, stock market is volatile, and inflation is going up. The 5% high interest accounts are quickly going away, and soon it’ll be 2-3%. Once you tax that, and factor in inflation – say goodbye to the money.

Maybe we’ll all be on this board 5 years from now.. still waiting for those significant price declines in the nicer parts of town, watching our savings get eaten away, while a lot of people who overstretched live beyond their means via government intervention. Life isn’t fair and all that?

Maybe not – who knows. Someone wake me up when CV, RSF, La Jolla, or any of the other commonly desired locations has anything significant of a price drop that doesn’t get multiple offers the next day.

[sdnerd]

I think at this point it’s obvious the government is going to do something, and that great unknown as to exactly what is unsettling.

Debt forgiveness, re-negotiating rates, major foreclosure prevention, etc. There are a lot of possible scenarios that could keep people in their homes, and create a pricing floor.

So while they can’t stop the train, and those who have already been run over are toast, I can see the government stepping in to slow it down.

If they are able to manage that, it could end up helping the more desirable locations, and higher end homes the most since they will be the last to have heavy decline in most markets. Lower and middle class get steamrolled, upper class gets saved in the nick of time? (Even though in many cases people buying these homes can’t wildly afford them)

And the part that has me concerned is, as a saver – keeping liquid funds these days is getting harder & harder. Where do you put it? Interest rates keep getting cut, stock market is volatile, and inflation is going up. The 5% high interest accounts are quickly going away, and soon it’ll be 2-3%. Once you tax that, and factor in inflation – say goodbye to the money.

Maybe we’ll all be on this board 5 years from now.. still waiting for those significant price declines in the nicer parts of town, watching our savings get eaten away, while a lot of people who overstretched live beyond their means via government intervention. Life isn’t fair and all that?

Maybe not – who knows. Someone wake me up when CV, RSF, La Jolla, or any of the other commonly desired locations has anything significant of a price drop that doesn’t get multiple offers the next day.

[sdnerd]

I think at this point it’s obvious the government is going to do something, and that great unknown as to exactly what is unsettling.

Debt forgiveness, re-negotiating rates, major foreclosure prevention, etc. There are a lot of possible scenarios that could keep people in their homes, and create a pricing floor.

So while they can’t stop the train, and those who have already been run over are toast, I can see the government stepping in to slow it down.

If they are able to manage that, it could end up helping the more desirable locations, and higher end homes the most since they will be the last to have heavy decline in most markets. Lower and middle class get steamrolled, upper class gets saved in the nick of time? (Even though in many cases people buying these homes can’t wildly afford them)

And the part that has me concerned is, as a saver – keeping liquid funds these days is getting harder & harder. Where do you put it? Interest rates keep getting cut, stock market is volatile, and inflation is going up. The 5% high interest accounts are quickly going away, and soon it’ll be 2-3%. Once you tax that, and factor in inflation – say goodbye to the money.

Maybe we’ll all be on this board 5 years from now.. still waiting for those significant price declines in the nicer parts of town, watching our savings get eaten away, while a lot of people who overstretched live beyond their means via government intervention. Life isn’t fair and all that?

Maybe not – who knows. Someone wake me up when CV, RSF, La Jolla, or any of the other commonly desired locations has anything significant of a price drop that doesn’t get multiple offers the next day.

[sdnerd]

You are going to get a wide range of answers on this site. You’ll have some who believe you’ll be able to buy at $200,000 and you’ll have some who believe prices will hold, and even the occasional who think they’ll go up (albeit rare).

Nobody knows.

Recession, bailout, interest rates, and a slew of other variables.

What data there is, and from signs from other distressed areas where prices are falling would point to a price decrease in Mission Hills as well. But nobody knows by how much, or how soon.

Your best bet is to just watch the area, keep track of listings, and see what happens.

Personally, I would agree it’s highly doubtful prices will go back to 1999 levels there.

Based on 1999 prices, with annual 4% appreciation would price it roughly $427,000 today. Do some calculations to see what the Buy vs. Rent numbers would be, how much you are paying for rent, and how much personal interest you have in a particular house – and make your decision from there.

[sdnerd]

You are going to get a wide range of answers on this site. You’ll have some who believe you’ll be able to buy at $200,000 and you’ll have some who believe prices will hold, and even the occasional who think they’ll go up (albeit rare).

Nobody knows.

Recession, bailout, interest rates, and a slew of other variables.

What data there is, and from signs from other distressed areas where prices are falling would point to a price decrease in Mission Hills as well. But nobody knows by how much, or how soon.

Your best bet is to just watch the area, keep track of listings, and see what happens.

Personally, I would agree it’s highly doubtful prices will go back to 1999 levels there.

Based on 1999 prices, with annual 4% appreciation would price it roughly $427,000 today. Do some calculations to see what the Buy vs. Rent numbers would be, how much you are paying for rent, and how much personal interest you have in a particular house – and make your decision from there.

[sdnerd]

You are going to get a wide range of answers on this site. You’ll have some who believe you’ll be able to buy at $200,000 and you’ll have some who believe prices will hold, and even the occasional who think they’ll go up (albeit rare).

Nobody knows.

Recession, bailout, interest rates, and a slew of other variables.

What data there is, and from signs from other distressed areas where prices are falling would point to a price decrease in Mission Hills as well. But nobody knows by how much, or how soon.

Your best bet is to just watch the area, keep track of listings, and see what happens.

Personally, I would agree it’s highly doubtful prices will go back to 1999 levels there.

Based on 1999 prices, with annual 4% appreciation would price it roughly $427,000 today. Do some calculations to see what the Buy vs. Rent numbers would be, how much you are paying for rent, and how much personal interest you have in a particular house – and make your decision from there.

[sdnerd]

You are going to get a wide range of answers on this site. You’ll have some who believe you’ll be able to buy at $200,000 and you’ll have some who believe prices will hold, and even the occasional who think they’ll go up (albeit rare).

Nobody knows.

Recession, bailout, interest rates, and a slew of other variables.

What data there is, and from signs from other distressed areas where prices are falling would point to a price decrease in Mission Hills as well. But nobody knows by how much, or how soon.

Your best bet is to just watch the area, keep track of listings, and see what happens.

Personally, I would agree it’s highly doubtful prices will go back to 1999 levels there.

Based on 1999 prices, with annual 4% appreciation would price it roughly $427,000 today. Do some calculations to see what the Buy vs. Rent numbers would be, how much you are paying for rent, and how much personal interest you have in a particular house – and make your decision from there.

[sdnerd]

You are going to get a wide range of answers on this site. You’ll have some who believe you’ll be able to buy at $200,000 and you’ll have some who believe prices will hold, and even the occasional who think they’ll go up (albeit rare).

Nobody knows.

Recession, bailout, interest rates, and a slew of other variables.

What data there is, and from signs from other distressed areas where prices are falling would point to a price decrease in Mission Hills as well. But nobody knows by how much, or how soon.

Your best bet is to just watch the area, keep track of listings, and see what happens.

Personally, I would agree it’s highly doubtful prices will go back to 1999 levels there.

Based on 1999 prices, with annual 4% appreciation would price it roughly $427,000 today. Do some calculations to see what the Buy vs. Rent numbers would be, how much you are paying for rent, and how much personal interest you have in a particular house – and make your decision from there.

[sdnerd]

Re: paramount

Central to where there is job density, and more higher paying jobs are located perhaps?

Areas where prices were lowest to begin with, and have been hit the hardest. These areas by definition are the least desirable, or they wouldn’t be the cheapest. Supply and demand and all that.

I agree completely with recordsclerk. It looks like you read it as a personal attack, I’m not sure why.

A co-worker today picked up a forclosure for 50% off from the peak, because he was tired of commuting 3 hours each day and buy now equals rent for that property. Bargain hunters are starting to come out. (Although I would agree, we aren’t at the bottom yet)

[sdnerd]

Re: paramount

Central to where there is job density, and more higher paying jobs are located perhaps?

Areas where prices were lowest to begin with, and have been hit the hardest. These areas by definition are the least desirable, or they wouldn’t be the cheapest. Supply and demand and all that.

I agree completely with recordsclerk. It looks like you read it as a personal attack, I’m not sure why.

A co-worker today picked up a forclosure for 50% off from the peak, because he was tired of commuting 3 hours each day and buy now equals rent for that property. Bargain hunters are starting to come out. (Although I would agree, we aren’t at the bottom yet)

[sdnerd]

Re: paramount

Central to where there is job density, and more higher paying jobs are located perhaps?

Areas where prices were lowest to begin with, and have been hit the hardest. These areas by definition are the least desirable, or they wouldn’t be the cheapest. Supply and demand and all that.

I agree completely with recordsclerk. It looks like you read it as a personal attack, I’m not sure why.

A co-worker today picked up a forclosure for 50% off from the peak, because he was tired of commuting 3 hours each day and buy now equals rent for that property. Bargain hunters are starting to come out. (Although I would agree, we aren’t at the bottom yet)

[sdnerd]

Re: paramount

Central to where there is job density, and more higher paying jobs are located perhaps?

Areas where prices were lowest to begin with, and have been hit the hardest. These areas by definition are the least desirable, or they wouldn’t be the cheapest. Supply and demand and all that.

I agree completely with recordsclerk. It looks like you read it as a personal attack, I’m not sure why.

A co-worker today picked up a forclosure for 50% off from the peak, because he was tired of commuting 3 hours each day and buy now equals rent for that property. Bargain hunters are starting to come out. (Although I would agree, we aren’t at the bottom yet)

[Author]

Posts