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Old 07-06-2014, 11:15 PM
 
Location: San Diego
1,525 posts, read 1,462,258 times
Reputation: 1565

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Quote:
Originally Posted by socketz View Post
In many of the more desirable areas of San Diego, we are close to 2005 price levels.

These areas are leading indicators as they will soon pull up the slightly less desirable surrounding areas.

Many feel 2005 was the top of the last movement upward in San Diego.

Nonetheless, if you buy and plan to stay put for 5-7 years, you should be fine.


How would that have worked out for someone buying in 2005 and wanting/needing to sell in 2010?
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Old 07-07-2014, 12:01 AM
 
6 posts, read 4,866 times
Reputation: 10
Why would anyone buy a house today and commit financial suicide is beyond me.
Rent for next few years until this hype is over and prices correct 50% -70%.
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Old 07-07-2014, 09:47 AM
 
3,035 posts, read 14,394,347 times
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It all depends on where you bought in 2005.

Location is everything in Real Estate and more desirable areas recover faster.

2010 was probably too early to sell as the last fluctuation factored in some very shady loan approval/underwriting processes that became the catalyst for a complete economic downturn.

This last downturn took about 7 years to come out of....
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Old 07-07-2014, 09:55 AM
 
2,986 posts, read 4,555,831 times
Reputation: 1664
Quote:
Originally Posted by Ssdloop View Post
Why would anyone buy a house today and commit financial suicide is beyond me.
Rent for next few years until this hype is over and prices correct 50% -70%.
Nice first post. Coastal SD is always going to be extremely desirable and houses and will never drop 70% unless there is an absolute economic collapse, in which case we are all ****ed
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Old 07-07-2014, 01:41 PM
 
Location: 92037
4,630 posts, read 10,237,057 times
Reputation: 1955
Some really great points all around.

Just about anywhere in SD metro is more desirable than other parts of the country in terms of pure location, not neighborhood quality necessarily. So the location from an external view is still likely going to carry more weight dollar for dollar over the long run with other areas of the country.

Internally with in SD, the more desirable areas may not see fluctuations in prices as dramatic as less desirable areas. But these are more fluctuations in market conditions and lending/affordability rates than anything else.

The point is, trying to 'time the market' is unwise and not for the meek. Buy when you are ready. There is no crystal ball, just historical data and lots of assumptions.
There are some left brain aspects of the market which may make sense to buy now, but may be a moot point if buying doesnt make financial sense.

If you are comparing like for like in terms of property type/location without much compromise and you would be breaking even vs renting, sure why not? But if you can only afford something that is not up to your standard, then you should have a good reason why you would justify that purchase.
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Old 07-07-2014, 02:04 PM
 
6 posts, read 4,866 times
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Quote:
Originally Posted by GMUAlum08 View Post
Nice first post. Coastal SD is always going to be extremely desirable and houses and will never drop 70% unless there is an absolute economic collapse, in which case we are all ****ed
The fed is printing billions every month to feed into the housing market. That is a sign of an VERY UNHEALTHY not a healthy sector. A healthy sectory does not need to be goosed by Fed printing or by Fed ZIRP. If the Fed has stabilized housing, it has spent trillions to do this, trillions of OUR TAX PAYERS money. What happens when the Fed finally gets sent to the Penalty Box?

WILL the Fed get sent to the Penalty Box finally? If Americans knew what is really going on with the Fed --including trillions given to the richest Americans and also the richest foreigners in the world -- the Fed officers would be on Death Row.
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Old 07-07-2014, 03:18 PM
 
Location: San Diego
50,061 posts, read 46,605,276 times
Reputation: 33904
Not too many people can cough up 80-100K for a down
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Old 07-07-2014, 03:25 PM
 
2,986 posts, read 4,555,831 times
Reputation: 1664
Quote:
Originally Posted by Ssdloop View Post
The fed is printing billions every month to feed into the housing market. That is a sign of an VERY UNHEALTHY not a healthy sector. A healthy sectory does not need to be goosed by Fed printing or by Fed ZIRP. If the Fed has stabilized housing, it has spent trillions to do this, trillions of OUR TAX PAYERS money. What happens when the Fed finally gets sent to the Penalty Box?

WILL the Fed get sent to the Penalty Box finally? If Americans knew what is really going on with the Fed --including trillions given to the richest Americans and also the richest foreigners in the world -- the Fed officers would be on Death Row.
So you really think 400k properties will be worth ~120k in a few years? The Fed has been slowing the QE and will continue to do so. Most people anticipate this will bring higher interest rates but that hasn't been the case so far.
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Old 07-07-2014, 04:03 PM
 
3,035 posts, read 14,394,347 times
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Quote:
Originally Posted by 1AngryTaxPayer View Post
Not too many people can cough up 80-100K for a down
That's why 40% of the loans being created today are FHA.
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Old 07-07-2014, 04:06 PM
 
3,035 posts, read 14,394,347 times
Reputation: 914
Quote:
Originally Posted by GMUAlum08 View Post
So you really think 400k properties will be worth ~120k in a few years? The Fed has been slowing the QE and will continue to do so. Most people anticipate this will bring higher interest rates but that hasn't been the case so far.
This wont happen. 20% adjustments in desirable parts of the country, maybe 40% in others.

I don't see us going back to 1990s pricing unless something catastrophic happens to the economy, like the advent of a global currency or the elimination of the mortgage write off.

Here in CA, the elimination of prop 13, but all of these are political suicide to even suggest.
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