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)
 
Old 12-09-2017, 10:34 AM
 
1,600 posts, read 930,992 times
Reputation: 1047

Advertisements

Quote:
Originally Posted by 1AngryTaxPayer View Post
What? Anyone who bought in SD not that many years ago and are renting it out are paying FAR LESS than the renters renting it out. FAR less. Our original mortgage back in 1998 was 895 a month. Even after fixing it up you think I'm not making bank? Rents being around 2500-3000 for my place now. Pretty much the same for those who bought in 2012.
I'm talking about buying a house NOW vs renting that house NOW. You bought back in 1998 before the biggest run-up of housing prices in history? Lucky you. It's not 1998 anymore, and we're likely to never have a run-up like that again in our lifetimes. You can't use an anomaly as the standard for how to make decisions today.
Reply With Quote Quick reply to this message

 
Old 12-09-2017, 10:39 AM
 
1,600 posts, read 930,992 times
Reputation: 1047
Quote:
Originally Posted by someguy10 View Post
Based on metoque's exact claim (rent now vs PITI now with $0 down), I agree with him/her...
I won't quote your whole post, but spot on. I always appreciate someone who knows how to do math. I'm not against buying homes, but I'm just logical and analytical about how the math plays out. Right now, it just doesn't work out UNLESS you stay in that house for at least 10 years and housing continues to appreciate. However, how many of you can guarantee that you'll stay somewhere for 10 years or more without wanting or NEEDING to move? My point is that it's not even close to a slam dunk to buy like some of you on this board profess. Do the math, and don't use examples of when you bought a house in 1992 and made a killing. Those days are gone.

Reality check:
https://www.cnbc.com/2017/11/16/home...udy-finds.html

Last edited by metoque; 12-09-2017 at 11:17 AM..
Reply With Quote Quick reply to this message
 
Old 12-09-2017, 11:35 AM
 
Location: San Diego
50,060 posts, read 46,570,390 times
Reputation: 33896
Quote:
Originally Posted by metoque View Post
I'm talking about buying a house NOW vs renting that house NOW. You bought back in 1998 before the biggest run-up of housing prices in history? Lucky you. It's not 1998 anymore, and we're likely to never have a run-up like that again in our lifetimes. You can't use an anomaly as the standard for how to make decisions today.
Neighbors to each side of us paid less than 20 grand in the 60s. It may occasionally dip but it always goes up.
Reply With Quote Quick reply to this message
 
Old 12-09-2017, 11:43 AM
 
1,600 posts, read 930,992 times
Reputation: 1047
Quote:
Originally Posted by 1AngryTaxPayer View Post
Neighbors to each side of us paid less than 20 grand in the 60s. It may occasionally dip but it always goes up.
Would you call the Great Recession an "occasional dip"? People lost their livelihoods.
Reply With Quote Quick reply to this message
 
Old 12-09-2017, 11:52 AM
 
Location: Laguna Niguel, Orange County CA
9,810 posts, read 11,051,276 times
Reputation: 7995
Quote:
Originally Posted by metoque View Post
Would you call the Great Recession an "occasional dip"? People lost their livelihoods.
Many also bought properties they couldn’t afford, so there’s that.
Reply With Quote Quick reply to this message
 
Old 12-09-2017, 11:55 AM
 
1,600 posts, read 930,992 times
Reputation: 1047
Quote:
Originally Posted by LuvSouthOC View Post
Many also bought properties they couldn’t afford, so there’s that.
You don't think that's happening now?
Reply With Quote Quick reply to this message
 
Old 12-09-2017, 12:40 PM
 
Location: Laguna Niguel, Orange County CA
9,810 posts, read 11,051,276 times
Reputation: 7995
Not much of that is happening, no.
Reply With Quote Quick reply to this message
 
Old 12-09-2017, 04:19 PM
 
1,600 posts, read 930,992 times
Reputation: 1047
Quote:
Originally Posted by LuvSouthOC View Post
Not much of that is happening, no.
Well then, I guess I should just take your word for it. Prices will keep going up, but will somehow remain affordable

Here's some light reading:
San Diego homeownership slips further out of reach - The San Diego Union-Tribune


Last edited by metoque; 12-09-2017 at 04:36 PM..
Reply With Quote Quick reply to this message
 
Old 12-09-2017, 04:42 PM
 
771 posts, read 828,536 times
Reputation: 823
Quote:
Originally Posted by LuvSouthOC View Post
Not much of that is happening, no.
Quote:
Originally Posted by metoque View Post
You don't think that's happening now?
What would you guys consider affordable? I'm guessing that definition varies and is mostly responsible for the difference of opinion.

Some households will really stretch to the max and be fine due to significant income increases over the years and job stability. Some, however, will fail to realize one or both factors.
Reply With Quote Quick reply to this message
 
Old 12-09-2017, 06:56 PM
 
1,600 posts, read 930,992 times
Reputation: 1047
Quote:
Originally Posted by someguy10 View Post
What would you guys consider affordable? I'm guessing that definition varies and is mostly responsible for the difference of opinion.

Some households will really stretch to the max and be fine due to significant income increases over the years and job stability. Some, however, will fail to realize one or both factors.
A lot depends on other expenses and debt that a household may have, but I would say as a general rule a mortgage loan shouldn't exceed 3x total income.
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