San Antonio's SOFT Housing Market....NOT! (Reno, Holland: buy, live in, beach)

[hello13685]

There was indeed a bubble in San Antonio on a percentage basis. The nominal values of the increases were not as high as they were in other areas, thankfully, due to lower initial prices, but we saw some pretty hefty gains on a percentage basis. The way things are currently, I think that a buyer might be okay if she buys and holds for the next 15 years (because of the likely inflation and dollar values I wrote about earlier). Any less than that, and I would see trouble because of what will likely be very high interest rates in the middle term.

[lsdude]

78228 was listed in today's
Zip Codes With the Biggest Listing Price Gains



By Prashant Gopal , BusinessWeek.com
Mar 27th, 2009

[scuba steve]

Don't forget to take into account inflation. That's a tide that'll raise all ships. IMO it'll be a greater factor than interest rates in terms of what affects housing prices. If we're pulling numbers out off youknowhere I'll go for an average of a 4% increase per year for average housing prices in Bexar County for the next couple of years.

[hello13685]

Indeed, we're ALL pulling numbers out of "youknowwhere" because none of us really knows what's going to happen. That's the whole crux of my personal deliberation--the inflation (or hyperinflation) vs. the interest rate and liberal lending factors. It's too bad that only time will provide answers!! I'd love to have the 20/20 vision right now!

[firstclassflyer]

Originally Posted by leslie b

Steve, I wonder if we're going to see a 4% (or whatever number to compensate for the inflationary rate) increase in wages/income per year for the next couple of years. I'm not seeing it but maybe I'm just in the wrong business. And those pesky unemployment figures.
My point is - yes, we could see an increase in SA home prices or just flatliniing. But how many people are going to be able to AFFORD to jump into the real estate waters while incomes fall off the cliff? (That's a weird visual)
BTW, not doom and glooming here.....it's a beautiful weekend. Let's all enjoy it!

There is still plenty of money out there....a lot of "weak hands" and "scared money" though.

[Paka]

Originally Posted by hello13685

Paka, your response has no relationship to anything I wrote (not surprisingly). I do believe that they are over-priced and will come down due to currently unsustainable interest rates. My post was an analysis based on the bigger picture--something that many don't care to examine--or, more tragically are unable to examine.

OK...we can agree to disagree....while I continue to make money on my property and you sit smugly knowing that you have the better deal for not buying yoru home while you enjoy pouring over meaningless rent receipts. You win...

[RecovringKrspyKremeAddict]

wishes someone would buy HER house in NW San Antonio! ;-) Had to relocate and leave it behind on the market.

[Paka]

Originally Posted by RecovringKrspyKremeAddict

wishes someone would buy HER house in NW San Antonio! ;-) Had to relocate and leave it behind on the market.

Here's hoping that the heavy military rotation cycle brings you a buyer too!

[RecovringKrspyKremeAddict]

Originally Posted by Paka

Here's hoping that the heavy military rotation cycle brings you a buyer too!

Thanks Paka! Keeping the fingers crossed!

[hello13685]

Leslie b... stop, you are being too realistic!!! That is not permitted here! Firstclassflyer, depends on what you call "money." If debt is money, then yes there's plenty left!