About CDon

CDon


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In United States
Registered Mar 08, 2012

CDon's most recent comments:

  • On 15 Apr 2014 in My take on the soft existing home sales numbers today, CDon said:

    Logan Mohtashami says

    hanhvu02 says

    so, no way to buy the house in SCal now. Extremly expensive.

    should wait in next couple years, right Logan ?

    That's always a personal choice. Housing is the cost of shelter to your own capacity to own the debt. So you're buying a payment PITI not just a home. The variable factors in that equation can only be answered by one self and their own economics.

    Yes, but he is asking your opinion as to whether prices will be lower then versus now. Put another way, assuming he can afford that 500K house now, should he take the plunge, or wait in the hopes it drops down to 485K...475K... etc?

    So what do you think? Do you think all this pound the table bearishness on sales, inventory, demographics, the crappy economy, etc, etc, will move the needle when it comes to the number one factor for your average joe homebuyer here which is nominal prices?

  • On 15 Apr 2014 in The Housing Recovery That Never Was is Over, CDon said:

    smaulgld says

    Strategist says

    Inventory there has been jumping since february, but prices just arent falling.

    Try Sacramento http://www.calculatedriskblog.com/2014/04/sacramento-housing-in-march-total-sales.html

    Your link points to data showing prices in Sacramento up 20% year over year.

  • On 3 Apr 2014 in wowza wowza look at all these great headlines on Patrick it is truly a new day!!, CDon said:

    By the way Funtime - if you want to see the consequences of how this plays out - take a look at this discussion between myself and RFHTC near the end of this thread

    http://patrick.net/forum/?p=1221690

    So to recap, per Case Shiller

    1. SFBA bottomed at 117.71 in 2009
    2. When RFHTC and I first debated this in 2013 when Case Shiller was @ 146.23, he said, yes wait for it to crash below the 117 level of 4 years earlier.
    3. I brought it up again one year later in 2014 @ 180.19 to see if he was still in "wait and see" mode and he choose not to discuss it.

    He could have mitigated his damages in 2013 @ 146.23. Yet he decided to double down on his call, and now its @ 181.5 further hurting those who relied on his decision to "wait".

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