[svelte]

So…why the difference in reaction on this board? When Congress was trying to assist the homeowner, everyone was up in arms and had smoke coming out their ears.

But when the Treasury Secretary outlines steps to prop up Fannie and Freddie or the Fed steps in to take over Indymac, not a peep out of the Hogs and Hogville – only guesses as to who is next.

Quite a difference in reactions. Somebody explain that to me.

[svelte]

It is not now, nor has it ever been, the wisest idea to determine a car’s anticipated reliability based upon the country in which it was built or where the HQ is located. It is far better to judge based upon the individual car company and, better yet, the individual model.

Japan has gotten a good rep over the last few decades based almost entirely on Toyota and Honda. But I can give you example after example on absolutely horrid cars from Mitsubishi, Subaru, and yes even Datsun/Nissan. Do any of you recall the US govt pressuring Nissan to buy back and crush all of the first gen minivans they brought over here because they could not keep them from catching fire, even after several recalls? They eventually did buy them all back.

Even Toyota is slipping now – take a close look at the newest gen Tundra record…pretty pitiful (I can supply links if necessary).

I keep my cars up to 150K miles and have owned 5 American cars to this mileage. The most expensive repair for any of these was one grand to replace an a/c condenser and it was covered under warranty. None of the vehicles needed more than two repairs in 150K miles, and most of those were also warranty work (highest out-of-pocket I’ve paid total for any of those cars is about $500). And I still own a 220K mile Chrysler that is probably going to go forever. Original radiator, alternator, water pump, and it regularly passes smog with nary a wimper.

Now let’s compare to my nearest neighbors. Across the street, Honda Accord needed a new tranny at under 100K miles. Next door, Infinity G35 – 3 yrs old – has had the drivers window motor replace FOUR TIMES. Yikes! I thought this was a fluke (maybe bad wiring in that particular car?) until a second friend has told me his G35 is on it’s third driver window motor. Ouch.

I’m not saying Honda/Nissans/Toyotas are crap – I have no doubt you can dig up similar stories on GM/Ford/Chrysler. I’m just saying that the difference in quality of cars now is so small as to be not even worth discussing or considering when making a purchase.

If you track JD Powers defects per vehicle over the years, you’ll see the range from best to worst has become increasingly small (and the rankings will likely surprise you).

Anyone who tells you that you have to buy Japanese (or American or German or Swedish) to get high quality is only showing their prejudices. Buy the car that best fits your lifestyle and be happy. It’s a great world with many choices out there.

[svelte]

It is not now, nor has it ever been, the wisest idea to determine a car’s anticipated reliability based upon the country in which it was built or where the HQ is located. It is far better to judge based upon the individual car company and, better yet, the individual model.

Japan has gotten a good rep over the last few decades based almost entirely on Toyota and Honda. But I can give you example after example on absolutely horrid cars from Mitsubishi, Subaru, and yes even Datsun/Nissan. Do any of you recall the US govt pressuring Nissan to buy back and crush all of the first gen minivans they brought over here because they could not keep them from catching fire, even after several recalls? They eventually did buy them all back.

Even Toyota is slipping now – take a close look at the newest gen Tundra record…pretty pitiful (I can supply links if necessary).

I keep my cars up to 150K miles and have owned 5 American cars to this mileage. The most expensive repair for any of these was one grand to replace an a/c condenser and it was covered under warranty. None of the vehicles needed more than two repairs in 150K miles, and most of those were also warranty work (highest out-of-pocket I’ve paid total for any of those cars is about $500). And I still own a 220K mile Chrysler that is probably going to go forever. Original radiator, alternator, water pump, and it regularly passes smog with nary a wimper.

Now let’s compare to my nearest neighbors. Across the street, Honda Accord needed a new tranny at under 100K miles. Next door, Infinity G35 – 3 yrs old – has had the drivers window motor replace FOUR TIMES. Yikes! I thought this was a fluke (maybe bad wiring in that particular car?) until a second friend has told me his G35 is on it’s third driver window motor. Ouch.

I’m not saying Honda/Nissans/Toyotas are crap – I have no doubt you can dig up similar stories on GM/Ford/Chrysler. I’m just saying that the difference in quality of cars now is so small as to be not even worth discussing or considering when making a purchase.

If you track JD Powers defects per vehicle over the years, you’ll see the range from best to worst has become increasingly small (and the rankings will likely surprise you).

Anyone who tells you that you have to buy Japanese (or American or German or Swedish) to get high quality is only showing their prejudices. Buy the car that best fits your lifestyle and be happy. It’s a great world with many choices out there.

[svelte]

It is not now, nor has it ever been, the wisest idea to determine a car’s anticipated reliability based upon the country in which it was built or where the HQ is located. It is far better to judge based upon the individual car company and, better yet, the individual model.

Japan has gotten a good rep over the last few decades based almost entirely on Toyota and Honda. But I can give you example after example on absolutely horrid cars from Mitsubishi, Subaru, and yes even Datsun/Nissan. Do any of you recall the US govt pressuring Nissan to buy back and crush all of the first gen minivans they brought over here because they could not keep them from catching fire, even after several recalls? They eventually did buy them all back.

Even Toyota is slipping now – take a close look at the newest gen Tundra record…pretty pitiful (I can supply links if necessary).

I keep my cars up to 150K miles and have owned 5 American cars to this mileage. The most expensive repair for any of these was one grand to replace an a/c condenser and it was covered under warranty. None of the vehicles needed more than two repairs in 150K miles, and most of those were also warranty work (highest out-of-pocket I’ve paid total for any of those cars is about $500). And I still own a 220K mile Chrysler that is probably going to go forever. Original radiator, alternator, water pump, and it regularly passes smog with nary a wimper.

Now let’s compare to my nearest neighbors. Across the street, Honda Accord needed a new tranny at under 100K miles. Next door, Infinity G35 – 3 yrs old – has had the drivers window motor replace FOUR TIMES. Yikes! I thought this was a fluke (maybe bad wiring in that particular car?) until a second friend has told me his G35 is on it’s third driver window motor. Ouch.

I’m not saying Honda/Nissans/Toyotas are crap – I have no doubt you can dig up similar stories on GM/Ford/Chrysler. I’m just saying that the difference in quality of cars now is so small as to be not even worth discussing or considering when making a purchase.

If you track JD Powers defects per vehicle over the years, you’ll see the range from best to worst has become increasingly small (and the rankings will likely surprise you).

Anyone who tells you that you have to buy Japanese (or American or German or Swedish) to get high quality is only showing their prejudices. Buy the car that best fits your lifestyle and be happy. It’s a great world with many choices out there.

[svelte]

It is not now, nor has it ever been, the wisest idea to determine a car’s anticipated reliability based upon the country in which it was built or where the HQ is located. It is far better to judge based upon the individual car company and, better yet, the individual model.

Japan has gotten a good rep over the last few decades based almost entirely on Toyota and Honda. But I can give you example after example on absolutely horrid cars from Mitsubishi, Subaru, and yes even Datsun/Nissan. Do any of you recall the US govt pressuring Nissan to buy back and crush all of the first gen minivans they brought over here because they could not keep them from catching fire, even after several recalls? They eventually did buy them all back.

Even Toyota is slipping now – take a close look at the newest gen Tundra record…pretty pitiful (I can supply links if necessary).

I keep my cars up to 150K miles and have owned 5 American cars to this mileage. The most expensive repair for any of these was one grand to replace an a/c condenser and it was covered under warranty. None of the vehicles needed more than two repairs in 150K miles, and most of those were also warranty work (highest out-of-pocket I’ve paid total for any of those cars is about $500). And I still own a 220K mile Chrysler that is probably going to go forever. Original radiator, alternator, water pump, and it regularly passes smog with nary a wimper.

Now let’s compare to my nearest neighbors. Across the street, Honda Accord needed a new tranny at under 100K miles. Next door, Infinity G35 – 3 yrs old – has had the drivers window motor replace FOUR TIMES. Yikes! I thought this was a fluke (maybe bad wiring in that particular car?) until a second friend has told me his G35 is on it’s third driver window motor. Ouch.

I’m not saying Honda/Nissans/Toyotas are crap – I have no doubt you can dig up similar stories on GM/Ford/Chrysler. I’m just saying that the difference in quality of cars now is so small as to be not even worth discussing or considering when making a purchase.

If you track JD Powers defects per vehicle over the years, you’ll see the range from best to worst has become increasingly small (and the rankings will likely surprise you).

Anyone who tells you that you have to buy Japanese (or American or German or Swedish) to get high quality is only showing their prejudices. Buy the car that best fits your lifestyle and be happy. It’s a great world with many choices out there.

[svelte]

It is not now, nor has it ever been, the wisest idea to determine a car’s anticipated reliability based upon the country in which it was built or where the HQ is located. It is far better to judge based upon the individual car company and, better yet, the individual model.

Japan has gotten a good rep over the last few decades based almost entirely on Toyota and Honda. But I can give you example after example on absolutely horrid cars from Mitsubishi, Subaru, and yes even Datsun/Nissan. Do any of you recall the US govt pressuring Nissan to buy back and crush all of the first gen minivans they brought over here because they could not keep them from catching fire, even after several recalls? They eventually did buy them all back.

Even Toyota is slipping now – take a close look at the newest gen Tundra record…pretty pitiful (I can supply links if necessary).

I keep my cars up to 150K miles and have owned 5 American cars to this mileage. The most expensive repair for any of these was one grand to replace an a/c condenser and it was covered under warranty. None of the vehicles needed more than two repairs in 150K miles, and most of those were also warranty work (highest out-of-pocket I’ve paid total for any of those cars is about $500). And I still own a 220K mile Chrysler that is probably going to go forever. Original radiator, alternator, water pump, and it regularly passes smog with nary a wimper.

Now let’s compare to my nearest neighbors. Across the street, Honda Accord needed a new tranny at under 100K miles. Next door, Infinity G35 – 3 yrs old – has had the drivers window motor replace FOUR TIMES. Yikes! I thought this was a fluke (maybe bad wiring in that particular car?) until a second friend has told me his G35 is on it’s third driver window motor. Ouch.

I’m not saying Honda/Nissans/Toyotas are crap – I have no doubt you can dig up similar stories on GM/Ford/Chrysler. I’m just saying that the difference in quality of cars now is so small as to be not even worth discussing or considering when making a purchase.

If you track JD Powers defects per vehicle over the years, you’ll see the range from best to worst has become increasingly small (and the rankings will likely surprise you).

Anyone who tells you that you have to buy Japanese (or American or German or Swedish) to get high quality is only showing their prejudices. Buy the car that best fits your lifestyle and be happy. It’s a great world with many choices out there.

[svelte]

Unless you are talking about an entirely different McCain condo, this was reported in the union-trib yesterday:

http://www.signonsandiego.com/news/metro/20080701-9999-1m1mccain.html

and it is actually owned by a trust that McCain’s wife manages. Not too much better a situation than what you stated, but technically it is not owned by John McCain.

The other surprising lines in that article are the last two lines: 75% of properties sold at tax default auctions are time shares. Huh? All the time share owners on a particular unit defaulted, or they auctioned off the particular week that the was in default?

Back to McCain, the other shocker the last few weeks was the credit card debt carried by John and his wife:

http://thehill.com/campaign-2008/mccains-report-more-than-100000-in-credit-card-debt-2008-06-13.html

Let’s see…
$10K + ? on John/Cindy card
$100K + ? on Cindy AMEX 1
$100K + ? on Cindy AMEX 2
$15K + ? on dependent child AMEX card

That looks like a minimum of $225K (and perhaps up to $500K) in credit card debt. I don’t care how wealthy John and Cindy are, that still raises my eyebrows.

[svelte]

Unless you are talking about an entirely different McCain condo, this was reported in the union-trib yesterday:

http://www.signonsandiego.com/news/metro/20080701-9999-1m1mccain.html

and it is actually owned by a trust that McCain’s wife manages. Not too much better a situation than what you stated, but technically it is not owned by John McCain.

The other surprising lines in that article are the last two lines: 75% of properties sold at tax default auctions are time shares. Huh? All the time share owners on a particular unit defaulted, or they auctioned off the particular week that the was in default?

Back to McCain, the other shocker the last few weeks was the credit card debt carried by John and his wife:

http://thehill.com/campaign-2008/mccains-report-more-than-100000-in-credit-card-debt-2008-06-13.html

Let’s see…
$10K + ? on John/Cindy card
$100K + ? on Cindy AMEX 1
$100K + ? on Cindy AMEX 2
$15K + ? on dependent child AMEX card

That looks like a minimum of $225K (and perhaps up to $500K) in credit card debt. I don’t care how wealthy John and Cindy are, that still raises my eyebrows.

[svelte]

Unless you are talking about an entirely different McCain condo, this was reported in the union-trib yesterday:

http://www.signonsandiego.com/news/metro/20080701-9999-1m1mccain.html

and it is actually owned by a trust that McCain’s wife manages. Not too much better a situation than what you stated, but technically it is not owned by John McCain.

The other surprising lines in that article are the last two lines: 75% of properties sold at tax default auctions are time shares. Huh? All the time share owners on a particular unit defaulted, or they auctioned off the particular week that the was in default?

Back to McCain, the other shocker the last few weeks was the credit card debt carried by John and his wife:

http://thehill.com/campaign-2008/mccains-report-more-than-100000-in-credit-card-debt-2008-06-13.html

Let’s see…
$10K + ? on John/Cindy card
$100K + ? on Cindy AMEX 1
$100K + ? on Cindy AMEX 2
$15K + ? on dependent child AMEX card

That looks like a minimum of $225K (and perhaps up to $500K) in credit card debt. I don’t care how wealthy John and Cindy are, that still raises my eyebrows.

[svelte]

Unless you are talking about an entirely different McCain condo, this was reported in the union-trib yesterday:

http://www.signonsandiego.com/news/metro/20080701-9999-1m1mccain.html

and it is actually owned by a trust that McCain’s wife manages. Not too much better a situation than what you stated, but technically it is not owned by John McCain.

The other surprising lines in that article are the last two lines: 75% of properties sold at tax default auctions are time shares. Huh? All the time share owners on a particular unit defaulted, or they auctioned off the particular week that the was in default?

Back to McCain, the other shocker the last few weeks was the credit card debt carried by John and his wife:

http://thehill.com/campaign-2008/mccains-report-more-than-100000-in-credit-card-debt-2008-06-13.html

Let’s see…
$10K + ? on John/Cindy card
$100K + ? on Cindy AMEX 1
$100K + ? on Cindy AMEX 2
$15K + ? on dependent child AMEX card

That looks like a minimum of $225K (and perhaps up to $500K) in credit card debt. I don’t care how wealthy John and Cindy are, that still raises my eyebrows.

[svelte]

Unless you are talking about an entirely different McCain condo, this was reported in the union-trib yesterday:

http://www.signonsandiego.com/news/metro/20080701-9999-1m1mccain.html

and it is actually owned by a trust that McCain’s wife manages. Not too much better a situation than what you stated, but technically it is not owned by John McCain.

The other surprising lines in that article are the last two lines: 75% of properties sold at tax default auctions are time shares. Huh? All the time share owners on a particular unit defaulted, or they auctioned off the particular week that the was in default?

Back to McCain, the other shocker the last few weeks was the credit card debt carried by John and his wife:

http://thehill.com/campaign-2008/mccains-report-more-than-100000-in-credit-card-debt-2008-06-13.html

Let’s see…
$10K + ? on John/Cindy card
$100K + ? on Cindy AMEX 1
$100K + ? on Cindy AMEX 2
$15K + ? on dependent child AMEX card

That looks like a minimum of $225K (and perhaps up to $500K) in credit card debt. I don’t care how wealthy John and Cindy are, that still raises my eyebrows.

[svelte]

So nobody wants to guess the peak-to-bottom percent drop.

Chickens!!!

I’ll do it. I would bet that San Marcos will be down about 50% peak-to-bottom when all is said and done, plus or minus 5 percent. That is for apples-to-apples comparisons (ie, owner-occupied sales at peak and bottom….run down foreclosures along the way could obviously go for a much lower figure). Even apples-to-apples could go lower, but I just don’t see it happening.

Right now, in the neighborhood I am most familiar with, prices appear to be down 30-35% from peak which is an astonishing number in itself. There’s more to fall, I’m sure, but I doubt that we’re only halfway down the slide.

With 50% off, a newer home that had sold for $600K in 06 would be going for $300K at bottom. That sounds about right to me. Already, I have seen a model-match of $595 at peak to $400K today. Yikes!

It will sure be interesting to see where we stand one year from now.

PS – and yes DWCAP, if someone is considering buying a house right now, it certainly does matter how much more the market is going to drop, whether that is measured it in percentages or some other concrete method. I don’t consider “on par with rent” concrete since as has been discussed rents may change. Feel free to disagree.

[svelte]

So nobody wants to guess the peak-to-bottom percent drop.

Chickens!!!

I’ll do it. I would bet that San Marcos will be down about 50% peak-to-bottom when all is said and done, plus or minus 5 percent. That is for apples-to-apples comparisons (ie, owner-occupied sales at peak and bottom….run down foreclosures along the way could obviously go for a much lower figure). Even apples-to-apples could go lower, but I just don’t see it happening.

Right now, in the neighborhood I am most familiar with, prices appear to be down 30-35% from peak which is an astonishing number in itself. There’s more to fall, I’m sure, but I doubt that we’re only halfway down the slide.

With 50% off, a newer home that had sold for $600K in 06 would be going for $300K at bottom. That sounds about right to me. Already, I have seen a model-match of $595 at peak to $400K today. Yikes!

It will sure be interesting to see where we stand one year from now.

PS – and yes DWCAP, if someone is considering buying a house right now, it certainly does matter how much more the market is going to drop, whether that is measured it in percentages or some other concrete method. I don’t consider “on par with rent” concrete since as has been discussed rents may change. Feel free to disagree.

[svelte]

So nobody wants to guess the peak-to-bottom percent drop.

Chickens!!!

I’ll do it. I would bet that San Marcos will be down about 50% peak-to-bottom when all is said and done, plus or minus 5 percent. That is for apples-to-apples comparisons (ie, owner-occupied sales at peak and bottom….run down foreclosures along the way could obviously go for a much lower figure). Even apples-to-apples could go lower, but I just don’t see it happening.

Right now, in the neighborhood I am most familiar with, prices appear to be down 30-35% from peak which is an astonishing number in itself. There’s more to fall, I’m sure, but I doubt that we’re only halfway down the slide.

With 50% off, a newer home that had sold for $600K in 06 would be going for $300K at bottom. That sounds about right to me. Already, I have seen a model-match of $595 at peak to $400K today. Yikes!

It will sure be interesting to see where we stand one year from now.

PS – and yes DWCAP, if someone is considering buying a house right now, it certainly does matter how much more the market is going to drop, whether that is measured it in percentages or some other concrete method. I don’t consider “on par with rent” concrete since as has been discussed rents may change. Feel free to disagree.

[svelte]

So nobody wants to guess the peak-to-bottom percent drop.

Chickens!!!

I’ll do it. I would bet that San Marcos will be down about 50% peak-to-bottom when all is said and done, plus or minus 5 percent. That is for apples-to-apples comparisons (ie, owner-occupied sales at peak and bottom….run down foreclosures along the way could obviously go for a much lower figure). Even apples-to-apples could go lower, but I just don’t see it happening.

Right now, in the neighborhood I am most familiar with, prices appear to be down 30-35% from peak which is an astonishing number in itself. There’s more to fall, I’m sure, but I doubt that we’re only halfway down the slide.

With 50% off, a newer home that had sold for $600K in 06 would be going for $300K at bottom. That sounds about right to me. Already, I have seen a model-match of $595 at peak to $400K today. Yikes!

It will sure be interesting to see where we stand one year from now.

PS – and yes DWCAP, if someone is considering buying a house right now, it certainly does matter how much more the market is going to drop, whether that is measured it in percentages or some other concrete method. I don’t consider “on par with rent” concrete since as has been discussed rents may change. Feel free to disagree.

[Author]

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