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Old 06-28-2018, 05:04 PM
 
Location: Seattle WA./Fujieda-Japan
120 posts, read 101,603 times
Reputation: 167

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Quote:
Originally Posted by CaliRestoration View Post
So, you see Manhattan prices crashing down?

Everything does as some point.See how flat your graph was up until the late 90's?


What goes up must come down. In almost all large cities prices are grossly overvalued by double digits.

Greed is a driving factor heavily.
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Old 06-28-2018, 05:11 PM
 
6,089 posts, read 4,990,256 times
Reputation: 5985
Quote:
Originally Posted by udidwht View Post
Everything does as some point.See how flat your graph was up until the late 90's?


What goes up must come down. In almost all large cities prices are grossly overvalued by double digits.

Greed is a driving factor heavily.
Could that have anything to do with supply?

What happens when supply becomes constrained?
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Old 06-28-2018, 05:55 PM
 
18,172 posts, read 16,406,841 times
Reputation: 9328
Quote:
Originally Posted by udidwht View Post
Everything does as some point.See how flat your graph was up until the late 90's?


What goes up must come down. In almost all large cities prices are grossly overvalued by double digits.

Greed is a driving factor heavily.
Everything does not go down or housing prices would be the same as they were in 1950, 1960,1970, 1980, 1990, 2000. Oops they went up and up and ...up. For some strange reason people think the drop in about 2008/2009 is a natural event and ... it isn't.



What goes up will go up, moderate, and then go up again. Slight drops just drive more sales and prices go back up. Major drops are rare events and are also part of a larger drop that usually is accompanied by a rise in unemployment and a drop in income. Try 1930.


Part of the problem is the population is growing faster than homes can be built and reduced land in popular area which also drives up prices. The larger the population, and now it is way beyond the birth rate and controlled immigration provide, the more strain on the prices that are limited in supply. More people, fewer homes than needed, higher prices. Normal.


It isn't greed to is reality.
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Old 06-28-2018, 05:55 PM
 
Location: Seattle WA./Fujieda-Japan
120 posts, read 101,603 times
Reputation: 167
Quote:
Originally Posted by CaliRestoration View Post
Could that have anything to do with supply?

What happens when supply becomes constrained?

It's irrelevant. If one only has so many units to rent what does demand have to do with it? Nothing. Put a price on it and rent it. Orange county has always been overcrowded. Even 40 years ago.


If one is renting (same unit) and their neighbor is paying considerably more or less than he/she is there's a problem. Fair market value tactic is nothing more than a scam. And I'm a rental property owner.

Last edited by udidwht; 06-28-2018 at 06:09 PM..
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Old 06-28-2018, 05:57 PM
 
18,172 posts, read 16,406,841 times
Reputation: 9328
Quote:
Originally Posted by udidwht View Post
It's irrelevant. If one only has so many units to rent what does demand have to do with it? Nothing. Put a price on it and rent it. Orange county has always been overcrowded. Even 40 years ago.
Uh, demand drives prices. Increased taxes and fees drive prices up. Inflation drives prices up.
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Old 06-28-2018, 05:57 PM
 
Location: NNV
3,433 posts, read 3,756,001 times
Reputation: 6733
Quote:
Originally Posted by udidwht View Post
It's irrelevant. If one only has so many units to rent what does demand have to do with it? Nothing. Put a price on it and rent it. Orange county has always been overcrowded. Even 40 years ago.
I don't recall orange trees being included in the census. You were here in 1978?
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Old 06-28-2018, 06:13 PM
 
Location: Seattle WA./Fujieda-Japan
120 posts, read 101,603 times
Reputation: 167
Quote:
Originally Posted by Vic Romano View Post
I don't recall orange trees being included in the census. You were here in 1978?

Born and raised those orange groves have been gone for decades now. LOL!
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Old 06-28-2018, 06:15 PM
 
Location: Seattle WA./Fujieda-Japan
120 posts, read 101,603 times
Reputation: 167
Quote:
Originally Posted by expatCA View Post
Uh, demand drives prices. Increased taxes and fees drive prices up. Inflation drives prices up.
There's also sucker born every hour of everyday. I guess if someone said to stick your head into a red hot oven you do it?
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Old 06-28-2018, 07:21 PM
 
18,172 posts, read 16,406,841 times
Reputation: 9328
Quote:
Originally Posted by udidwht View Post
There's also sucker born every hour of everyday. I guess if someone said to stick your head into a red hot oven you do it?
Right, don't buy now, prices will drop in a month.
The market is not that hot price wise, as prices are just above the gain in inflation, so no red hot oven.


Income is not growing enough is the problem, too few homes available and more than enough people with money to buy what is on the market, especially coming from other Countries and investors who see more money to be made in buying homes.


The suckers are the ones believing the fairly tale that a big bust is near.
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Old 06-28-2018, 07:26 PM
 
Location: Laguna Niguel, Orange County CA
9,807 posts, read 11,147,437 times
Reputation: 7997
Quote:
Originally Posted by udidwht View Post
It's irrelevant. If one only has so many units to rent what does demand have to do with it? Nothing. Put a price on it and rent it. Orange county has always been overcrowded. Even 40 years ago.


If one is renting (same unit) and their neighbor is paying considerably more or less than he/she is there's a problem. Fair market value tactic is nothing more than a scam. And I'm a rental property owner.
Claim: Orange county has always been overcrowded

Reality: No. Vast areas of OC were undeveloped. In 1978, the OC population was about 1.8m whereas now it is over 3 million.
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