Enough with the 50% drop callers. Look at esmith’s January HPI which anecdotally makes sense with what I see along the coast regarding values.
His graph shows prices are about 70 to 80% above pre-bubble pricing in most parts of the county. A drop of 50% would put prices well below pre-bubble prices on a nominal basis. Factor in wage increases (which JWM and ex-SD do so often) of easily 20 to 30% in the nicer areas among professionals and a 25% decline from here looks like alot to expect.
Throw in lower interest rates and affordability is only about 30% above the pre-bubble prices adjusted for interest rates. Factor in the rise in wages and we are already pretty close. Sorry folks but I just dont see much more than 20% downside from here.
Sure you may get more than that in Da’ Hood but do you really want to live in Da’ Hood?
If you really want a nice home, get your ass off the computer, work harder, start a business and make more money. Dont expect life to hand it to you on a silver platter.
Show me a 70’s La Costa house that sold for 450 in 2004. Dont try to pass any of those Shady Hollow detached condos off as one either. The lowest sale I could find was 496 for a 2b/2ba house.
Show me a 70’s La Costa house that sold for 450 in 2004. Dont try to pass any of those Shady Hollow detached condos off as one either. The lowest sale I could find was 496 for a 2b/2ba house.
Show me a 70’s La Costa house that sold for 450 in 2004. Dont try to pass any of those Shady Hollow detached condos off as one either. The lowest sale I could find was 496 for a 2b/2ba house.
Show me a 70’s La Costa house that sold for 450 in 2004. Dont try to pass any of those Shady Hollow detached condos off as one either. The lowest sale I could find was 496 for a 2b/2ba house.
Show me a 70’s La Costa house that sold for 450 in 2004. Dont try to pass any of those Shady Hollow detached condos off as one either. The lowest sale I could find was 496 for a 2b/2ba house.
ZK,
I dont disagree that prices will come down though with int rates dropping the resets arent looking all that bad right now. My point is that most of CV will be spending well through a recession in the means they are accustomed to. A dropping home value wont stop a successfult doc from upgrading his plasma or trading in his Benz every 2 or 3 years.
ZK,
I dont disagree that prices will come down though with int rates dropping the resets arent looking all that bad right now. My point is that most of CV will be spending well through a recession in the means they are accustomed to. A dropping home value wont stop a successfult doc from upgrading his plasma or trading in his Benz every 2 or 3 years.
ZK,
I dont disagree that prices will come down though with int rates dropping the resets arent looking all that bad right now. My point is that most of CV will be spending well through a recession in the means they are accustomed to. A dropping home value wont stop a successfult doc from upgrading his plasma or trading in his Benz every 2 or 3 years.
ZK,
I dont disagree that prices will come down though with int rates dropping the resets arent looking all that bad right now. My point is that most of CV will be spending well through a recession in the means they are accustomed to. A dropping home value wont stop a successfult doc from upgrading his plasma or trading in his Benz every 2 or 3 years.
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