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If you are waiting to buy, how long do you expect to wait?
invite response
2012 Apr 20, 3:17am 71,997 views 134 comments
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rootvg
2012 Apr 25, 11:11am
Edvard, same thing happened on the Westside Meltdown blog for west Los angeles area. Posts shifted at one point to almost entirely the North of Montana area in Santa Monica. A very small portion of the Westside.
Housing bulls *cough realtor* *cough desperate homedebtors* look for the exception when they gasp for air. Already the LA market has begun crumbling anew(right as we enter the peak selling season no less). The bulls gotta grasp at their few remaining straws in the BA first.
Here again, the rules don't change. If the house is priced according to market and is in an area where schools are good and where people want to live (versus where people end up by default), the house WILL sell.
With regard to LA...yes, Santa Clarita is an outlying area but had we not moved north it is without question where I would have bought. Most of the middle to senior executives where I worked at the time live there. We sweated during fire season but other than that, things were good. We liked them and they liked us.
B.A.C.A.H.
2012 Apr 25, 11:36am
How come like at least 75% of the posts here talk about the Peninsula? The Bay Area is a huge metro and the Peninsula only takes up a small chunk of it...
Because it is The (coveted) Fortress. Areas outside of The Fortress are Silicon Valley versions of the Manhattanites' B 'n T.
rootvg
2012 Apr 25, 1:13pm
...and it's depressing just how little that much money gets you around here.
Yup. Is it any wonder that the rest of the nation considers CA, specifically the SF Bay Area, to be The Land of Fruits & Nuts?
That's because money has no value here. There's too much of it.
freak80
2012 Apr 26, 12:15am
I guess it is worth all that money to enjoy the lack of snow & humidity when walking between your office & car.
Hilarious. It's also worth it to work in a windowless cubicle in coastal California rather than work in a windowless cubicle in Buffalo, NY.
freak80
2012 Apr 26, 12:20am
That's because money has no value here. There's too much of it.
Inflation.
Newly printed money from Fed -> Wall Street -> Tech IPOs -> Silicon Valley real estate
bmwman91
2012 Apr 26, 10:00am
Inflation.
Newly printed money from Fed -> Wall Street -> Tech IPOs -> Silicon Valley real estate
LOL
Sir, are you suggesting that our esteemed web service companies are somehow being fueled by funny money?
freak80
2012 Apr 26, 1:36pm
Sir, are you suggesting that our esteemed web service companies are somehow being fueled by funny money?
Of course not. ;)
« First « Previous Comments 128 - 134 of 134 Search these comments
We need to move and are sick of renting, but worried that the market has another leg down. We've been waiting for this bubble to play itself out since 2001, are getting older, and don't plan on being lifelong renters.
If you've been waiting to buy, are you waiting indefinitely (as we have for the past 13 years) or do you have a time frame (ie., 6 months, 1 year).
If we buy we plan on staying 10-20 years, or forever, whichever come first.
Thanks to this website and a few other housing blogs, we didn't buy during the bubble. I have friends who did and are now seriously underwater and stuck.
Would hate to be the sucker that shoulda waited another 12 months. Waiting another 3-5 years isn't really an option, I'd like to quit being an amateur armchair economist and get on with my life and stop thinking about housing before I retire.
I know none of us have a RE crystal ball, but the group wisdom saved me from being a sucker 6 years ago when everyone else was behaving like lemmings.
#housing