[Werewolf]

to the original poster

See if you feel stupid in 6 or 12 months time

[Werewolf]

to the original poster

See if you feel stupid in 6 or 12 months time

[Werewolf]

to the original poster

See if you feel stupid in 6 or 12 months time

[Werewolf]

to the original poster

See if you feel stupid in 6 or 12 months time

[Werewolf]

to the original poster

See if you feel stupid in 6 or 12 months time

[Werewolf]

My view on Las Vegas

1) Fairly weak job base. Mostly blue-collar service and construction jobs means that people don’t get to save a lot and cannot buy homes in normal conditions–>limited local buyers
2) Lots of speculative investment means many empty homes in the area. It takes 2 months to lease up a house now with incentives
2) Rental home prices don’t vary as greatly with SF as you would think. A crappy small 3bd rents for marginally less than a new 4bd in a better neighborhood.

so what for your friend
1) don’t buy period
2) shop around for a rental home. You will be able to get more than you would expect.

Good luck

[Werewolf]

My view on Las Vegas

1) Fairly weak job base. Mostly blue-collar service and construction jobs means that people don’t get to save a lot and cannot buy homes in normal conditions–>limited local buyers
2) Lots of speculative investment means many empty homes in the area. It takes 2 months to lease up a house now with incentives
2) Rental home prices don’t vary as greatly with SF as you would think. A crappy small 3bd rents for marginally less than a new 4bd in a better neighborhood.

so what for your friend
1) don’t buy period
2) shop around for a rental home. You will be able to get more than you would expect.

Good luck

[Werewolf]

My view on Las Vegas

1) Fairly weak job base. Mostly blue-collar service and construction jobs means that people don’t get to save a lot and cannot buy homes in normal conditions–>limited local buyers
2) Lots of speculative investment means many empty homes in the area. It takes 2 months to lease up a house now with incentives
2) Rental home prices don’t vary as greatly with SF as you would think. A crappy small 3bd rents for marginally less than a new 4bd in a better neighborhood.

so what for your friend
1) don’t buy period
2) shop around for a rental home. You will be able to get more than you would expect.

Good luck

[Werewolf]

My view on Las Vegas

1) Fairly weak job base. Mostly blue-collar service and construction jobs means that people don’t get to save a lot and cannot buy homes in normal conditions–>limited local buyers
2) Lots of speculative investment means many empty homes in the area. It takes 2 months to lease up a house now with incentives
2) Rental home prices don’t vary as greatly with SF as you would think. A crappy small 3bd rents for marginally less than a new 4bd in a better neighborhood.

so what for your friend
1) don’t buy period
2) shop around for a rental home. You will be able to get more than you would expect.

Good luck

[Werewolf]

My view on Las Vegas

1) Fairly weak job base. Mostly blue-collar service and construction jobs means that people don’t get to save a lot and cannot buy homes in normal conditions–>limited local buyers
2) Lots of speculative investment means many empty homes in the area. It takes 2 months to lease up a house now with incentives
2) Rental home prices don’t vary as greatly with SF as you would think. A crappy small 3bd rents for marginally less than a new 4bd in a better neighborhood.

so what for your friend
1) don’t buy period
2) shop around for a rental home. You will be able to get more than you would expect.

Good luck

[Werewolf]

General question: some people stated that there will be no V-shaped recovery in the SD market. Why is that?

Pros:
1) San Diego has a better diversified economy than in the mid 1990s. Rental vacancy is 3-5% by market. People still want to live here
2) Job loss/growth in the region looks decent compared to the nation
3) SoCal (SD included) seems to be the home of the home buyer/speculator with property values defying logic/standards for the nation. When was the last time home values were 3x income here?

Cons
1) Even now homes are unaffordable for many without existing home equity.
2) Rising gas and food costs effectively eliminate any cushion/savings towards a down payment

What did I miss?

[Werewolf]

General question: some people stated that there will be no V-shaped recovery in the SD market. Why is that?

Pros:
1) San Diego has a better diversified economy than in the mid 1990s. Rental vacancy is 3-5% by market. People still want to live here
2) Job loss/growth in the region looks decent compared to the nation
3) SoCal (SD included) seems to be the home of the home buyer/speculator with property values defying logic/standards for the nation. When was the last time home values were 3x income here?

Cons
1) Even now homes are unaffordable for many without existing home equity.
2) Rising gas and food costs effectively eliminate any cushion/savings towards a down payment

What did I miss?

[Werewolf]

General question: some people stated that there will be no V-shaped recovery in the SD market. Why is that?

Pros:
1) San Diego has a better diversified economy than in the mid 1990s. Rental vacancy is 3-5% by market. People still want to live here
2) Job loss/growth in the region looks decent compared to the nation
3) SoCal (SD included) seems to be the home of the home buyer/speculator with property values defying logic/standards for the nation. When was the last time home values were 3x income here?

Cons
1) Even now homes are unaffordable for many without existing home equity.
2) Rising gas and food costs effectively eliminate any cushion/savings towards a down payment

What did I miss?

[Werewolf]

General question: some people stated that there will be no V-shaped recovery in the SD market. Why is that?

Pros:
1) San Diego has a better diversified economy than in the mid 1990s. Rental vacancy is 3-5% by market. People still want to live here
2) Job loss/growth in the region looks decent compared to the nation
3) SoCal (SD included) seems to be the home of the home buyer/speculator with property values defying logic/standards for the nation. When was the last time home values were 3x income here?

Cons
1) Even now homes are unaffordable for many without existing home equity.
2) Rising gas and food costs effectively eliminate any cushion/savings towards a down payment

What did I miss?

[Werewolf]

General question: some people stated that there will be no V-shaped recovery in the SD market. Why is that?

Pros:
1) San Diego has a better diversified economy than in the mid 1990s. Rental vacancy is 3-5% by market. People still want to live here
2) Job loss/growth in the region looks decent compared to the nation
3) SoCal (SD included) seems to be the home of the home buyer/speculator with property values defying logic/standards for the nation. When was the last time home values were 3x income here?

Cons
1) Even now homes are unaffordable for many without existing home equity.
2) Rising gas and food costs effectively eliminate any cushion/savings towards a down payment

What did I miss?

[Author]

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