Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > California > San Diego
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 07-26-2015, 04:55 PM
 
37 posts, read 42,747 times
Reputation: 27

Advertisements

I'm still on the fence for buying. I'm firmly in the camp off those who don't think a majority of san diegans can afford 3k minimum monthly for a sfh, but costs keep rising.

What will it take to slow the increase in prices or replenish inventory? Interest rates will go up soon. Shouldn't that just continue to increase demand because "they might go up more?"
Reply With Quote Quick reply to this message

 
Old 07-26-2015, 05:15 PM
 
Location: Business ethics is an oxymoron.
2,347 posts, read 3,320,149 times
Reputation: 5382
You MUST buy NOW....as in TODAY....or else you will be priced out FOREVER.

If you wish to live in such a desirable area, then act now. Don't let your dream of ownership get away. It's still not too late. It's different this time.

With the possible exceptions of third tier locales such as most of the Inland Empire and Central Valley areas, prices will only continue to rise as both population increases and foreign all-cash buyers continue to pour in. You better pony up or else expect to be relegated to renting. And that isn't wise in the long run because those will continue to rise too. At least with a purchase, it's a hedge against being at the mercy of the open market of renting. So you gotta make a decision soon. Either snap something up. Or else be prepared to miss out or else buy in one of the undesirable places such as Fresno, Tulare, Visalia, Stockton, or Porterville. You really want to move there from San Diego?

I'm only being half facetious with the above. It may actually contain some truth to it.
Reply With Quote Quick reply to this message
 
Old 07-26-2015, 05:49 PM
 
Location: New York City/San Diego, CA
686 posts, read 1,134,635 times
Reputation: 1107
You are right. Most San Diegan's can't afford 3k a month for housing. But I contend it doesn't matter. Real estate is not local anymore; San Diego is a globally desirable place and many people can make their money remotely.

Most undesirable areas in this country have not recovered from the housing recession brought on by the last Bush administration. As an example, my brother is still trying to unload a condo in central Jersey for 100k less than he paid for it in 2006. Central Valley is similar. Areas like SD, SF, Boston, DC, Seattle have more than recovered because folks want to live there. This makes sense to me...supply and demand...don't see any voodoo magic this time....my advice is don't let it hold you back.

Good luck and I don't think coastal California real estate will ever be a bad investment. Nor Manhattan. They aren't making anymore...
Reply With Quote Quick reply to this message
 
Old 07-26-2015, 07:12 PM
 
Location: San Diego
1,529 posts, read 1,471,394 times
Reputation: 1579
They're not making any more land!
Reply With Quote Quick reply to this message
 
Old 07-26-2015, 07:14 PM
 
Location: San Diego
1,529 posts, read 1,471,394 times
Reputation: 1579
Quote:
Originally Posted by sfosyd View Post
Areas like SD, SF, Boston, DC, Seattle have more than recovered because folks want to live there. This makes sense to me...supply and demand...don't see any voodoo magic this time....my advice is don't let it hold you back.

More like lack of supply.
Reply With Quote Quick reply to this message
 
Old 07-26-2015, 07:16 PM
 
34 posts, read 35,681 times
Reputation: 38
Quote:
Originally Posted by mippity View Post
I'm still on the fence for buying. I'm firmly in the camp off those who don't think a majority of san diegans can afford 3k minimum monthly for a sfh, but costs keep rising.

What will it take to slow the increase in prices or replenish inventory? Interest rates will go up soon. Shouldn't that just continue to increase demand because "they might go up more?"
The entire so called economic and housing recovery has been based on cheap debt. The FED is buying this so called recovery in housing and stocks with our money. In other words, the taxpayers are paying for it. Zero interest rate is NOT a natural or a normal state of affairs. It's a gift to and a feast for the Speculator Class, the rich, landlord class. The fact that the FED is robbing Peter (the taxpayer) to feed Paul (the asset markets) simply means that money is being stolen from the future to try to pretend that we are in recovery.

Remove the trillions the FED has pumped into the housing and stock market and remove ZIRP -- which has stolen trillions more from savers -- and you will see what is left from this phony recovery. We're not man enough to take that, so we lie and cheat and steal and rationalize to pretend everythings is still good.

Nothing is what it seems in America today. Companies are lying and rationalizing about earnings; using ZIRP to camouflage earnings losses, and cashing in on escallating stock values driven up by their own buying...what happens when they cash out and run away? What do they leave behind for the next generation to clean up?

Keep the spending going! That is the mantra. Keep spending money we don't have! GDP requires it. The Landlord Class loves it.

Interest rates. Why is there so much fear around raising interest rates? The fear that it will unleash a tsunami of defaults, private, corporate and governmental? Yes, if we raise interest rates housing will cost less. ZIRP has protected the status quo and the overpriced housing market in San Diego and all over America.
We need the strong Dollar, even though this will not be easy. The weak Dollar fixes nothing; it just keeps those in power gaining wealth and the rest of us walking on ice that gets thinner and thinner every day.

Dollar has been rallying for a year now, getting stronger and stronger. Higher interest rates will make our currency even more stronger and will bring deflation to the world, will POP all bubbles, including housing bubble that we have now.

The debt of today IS NOT manageable. The deflation will make the debt disappear. Through default. And this will crush the banking system as it is and force us to develop a better banking system, along the lines of public utilities, I hope.

Banks don't need to be our masters. They can be our servants.

Long live the STRONG DOLLAR!!!!
Reply With Quote Quick reply to this message
 
Old 07-26-2015, 07:25 PM
 
2,986 posts, read 4,564,915 times
Reputation: 1664
agree with sfosyd...

chances are, the longer you sit on the sidelines mippity the higher the prices are going to go...especially if you are looking at coastal RE...the possibility of being priced out of coastal areas IS real
Reply With Quote Quick reply to this message
 
Old 07-26-2015, 07:36 PM
 
34 posts, read 35,681 times
Reputation: 38
Quote:
Originally Posted by Cardiff Kook View Post
agree with sfosyd...

chances are, the longer you sit on the sidelines mippity the higher the prices are going to go...especially if you are looking at coastal RE...the possibility of being priced out of coastal areas IS real
You must be absolutely insane buying a house today so late in the game and ruin yourself financially.
Reply With Quote Quick reply to this message
 
Old 07-26-2015, 07:55 PM
 
Location: San Diego, CA
1,385 posts, read 1,158,081 times
Reputation: 4134
Quote:
Originally Posted by sd92101 View Post
You must be absolutely insane buying a house today so late in the game and ruin yourself financially.
YES - please rent instead (myself and other landlords will thank you)...
Reply With Quote Quick reply to this message
 
Old 07-26-2015, 08:08 PM
 
Location: San Diego
50,144 posts, read 46,785,137 times
Reputation: 33983
Housing here is 3 times what I paid in 98. Want to blow your mind, what is the percent change from 16K to 600K which is what my neighbors bought and sold at.

Or, you can just sit and watch it go up. It dips down but never goes down.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > California > San Diego

All times are GMT -6.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top