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View Poll Results: In general, do you think it's a good time to buy a house in L.A.?
Yes 12 34.29%
No 21 60.00%
Maybe (please explain) 2 5.71%
Voters: 35. You may not vote on this poll

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Old 01-07-2009, 01:34 PM
 
26,680 posts, read 28,670,280 times
Reputation: 7943

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Just wondering what everyone thinks.
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Old 01-07-2009, 02:01 PM
 
Location: DFW
219 posts, read 608,935 times
Reputation: 162
My wife and I don't plan to buy until early 2010 at the earliest. Prices are forecast to fall in SoCal another 20-30%; I don't have the motor skills to try to catch a falling knife. I'd rather miss out on 5-10% of appreciation rather than risk being instantly underwater on a mortgage.
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Old 01-07-2009, 03:01 PM
 
1,714 posts, read 6,054,971 times
Reputation: 696
I keep looking, and the prices keep falling. If I found something that I loved and thought we could stay in for 10 years, I'd probably go for it. However, the bear market has not been kind to our downpayment (arrrg!!) and, well, the house prices do continue to fall.
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Old 01-07-2009, 04:54 PM
 
1,319 posts, read 4,243,340 times
Reputation: 1152
If you plan on living in it for a long time, why not?
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Old 01-07-2009, 05:08 PM
 
Location: South Bay
7,226 posts, read 22,197,011 times
Reputation: 3626
Quote:
Originally Posted by BennyPhoenix View Post
If you plan on living in it for a long time, why not?
because if you wait to buy in another year or two you'll be able to pay significantly less.
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Old 01-07-2009, 05:17 PM
 
1,319 posts, read 4,243,340 times
Reputation: 1152
Quote:
Originally Posted by BRinSM View Post
because if you wait to buy in another year or two you'll be able to pay significantly less.
And you can guarantee this?
This needs to be called the psychic thread.
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Old 01-07-2009, 05:27 PM
 
225 posts, read 1,090,591 times
Reputation: 147
I'm not a finance type, but couldn't you buy and simultaneously short the market? Though I suppose this would only protect you against an unexpectedly sharp price drop, not the price drop that everyone is expecting.
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Old 01-07-2009, 05:30 PM
 
28,115 posts, read 63,672,505 times
Reputation: 23268
Sure, if I can find a deal that makes sense for me...

I didn't gain anything the few incidences I tried to time the market,
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Old 01-07-2009, 05:40 PM
 
Location: South Bay
7,226 posts, read 22,197,011 times
Reputation: 3626
Quote:
Originally Posted by BennyPhoenix View Post
And you can guarantee this?
This needs to be called the psychic thread.
i'm just doing the math. prices have dropped as much 50% in some areas, while others have only seen seen homes decrease 5-10%. While 50% maybe too much too expect in some areas, there is no way that these places will be immune to current economic forces.
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Old 01-07-2009, 05:41 PM
 
Location: appleton, wi
1,357 posts, read 5,866,824 times
Reputation: 644
Are prices falling everywhere or moreso in certain areas? Are there any areas where prices are steady?
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