Next housing dip? (Concord, Walnut Creek, Pittsburg: 2015, renting, loans)

[MinervaPallasAthena]

When will we see the next housing dip?
I often look at sites like Zillow and Trulia for buying and renting and it seems like the market is cooling off a little?
I love Contra Costa County (Concord and Walnut Creek areas) but even Pittsburg is beyond my budget! (Spouse is in tech. I am not in tech but make a decent salary. We are priced the f out.)

[justinbro2002]

You are not going to see the kind of dip we had 10 years ago where where prices fell 50% to 70%+ in some areas. You might see a drop of 10% to 15% like every other recession but when that will happen is anyones guess. Will prices go up another 15% before they drop? Will they go up another 25%?

[shooting4life]

Save now, for housing to go down that means job market tanked. Those with money in the bank and secure jobs are the ones that can take advantage of future drops.

[Independentthinking]

Originally Posted by justinbro2002

You are not going to see the kind of dip we had 10 years ago where where prices fell 50% to 70%+ in some areas. You might see a drop of 10% to 15% like every other recession but when that will happen is anyones guess. Will prices go up another 15% before they drop? Will they go up another 25%?

Agree. I know a couple of people that called a top in 2015. By the time we actually have a recession, they will be paying more even with a 10-15% dip. And you're being silly if you think you'll get a dip like the lows in 2010. Seriously, look at the quality of the buyers and explain how that even makes sense. Back in 2008, we had people lying about income, we had negative amortization loans, we had zero down loans , and we had interest only loans. Now people are putting 10-20% down, have to prove their income, and many homes have 100% equity (cash buyers). I'd say there's 0% chance you're going to do well with this waiting game. Prices are just going to be high...accept it.

[bmw335xi]

Originally Posted by shooting4life

Save now, for housing to go down that means job market tanked. Those with money in the bank and secure jobs are the ones that can take advantage of future drops.

Exactly!

[MyGoldenLife]

Originally Posted by shooting4life

Save now, for housing to go down that means job market tanked. Those with money in the bank and secure jobs are the ones that can take advantage of future drops.

I need to know about "secure jobs." Never heard of one before.

[bmw335xi]

The main point is save money for when thr next crash happens. Too many people think oh it will never happen, but it will.

[Independentthinking]

Originally Posted by bmw335xi

The main point is save money for when thr next crash happens. Too many people think oh it will never happen, but it will.

Actually, I don't know anyone that thinks there won't be a recession. However, a crash...no. And if you truly believe that, explain your rationale.

[bmw335xi]

Originally Posted by Independentthinking

Actually, I don't know anyone that thinks there won't be a recession. However, a crash...no. And if you truly believe that, explain your rationale.

There will always be crashes, just like there will always be those big floods, earthquakes, hurricans etc.

[Independentthinking]

Originally Posted by bmw335xi

There will always be crashes, just like there will always be those big floods, earthquakes, hurricans etc.

Define crash.