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justmyopiniontoday
Posts:38
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| 08/26/2008 1:23 PM |
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Just a question, Why does anyone think prices are going to stop at 1999 levels? What is going to keep it from going lower than that? Does anyone have any facts on why "1999" is the magic number? Why not wait for 1989 prices or lower. If the banks keep making it so difficult to get a loan the real number could be well below 1999 prices.
Not starting argument just looking for ideas. |
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wilson
Posts:670
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| 08/26/2008 1:34 PM |
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For current prices to retreat to nominal 1989 prices, you'd have to swim against the tide of 20 years of inflation. Even at a small inflation rate of 3% a year (using the law of seventy) prices would double in about 23 years.
Not gonna happen. |
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tpc
Posts:628
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| 08/26/2008 2:38 PM |
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| Wilson-glad you qualified your answer with the words "nominal prices". Checked my appraisal files. 1989 prices equal 1998 nominal prices. 1999 prices were 10%+/- higher. |
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78TTop
Posts:94
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| 08/26/2008 3:40 PM |
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cabbie... no 'hot deals' from me. I'm in sales but not residential real estate. Don't think you'll see 1999 RE prices in coastal San Diego these days. Investors would jump in before that happened. Today's rental amounts would create positive cash flows before prices dropped to 1999 levels.
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ownhomeinSD
Posts:168
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| 08/26/2008 4:43 PM |
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| When you had gas price in 1999 then you could have housing prices in 1999. |
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ownhomeinSD
Posts:168
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| 08/26/2008 9:11 PM |
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| My prediction for home price bottom is in first half of 2009 at near 2003 price. |
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cabbie
Posts:61
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| 09/23/2008 9:10 AM |
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| looks like they are headed there...... |
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huntid
Posts:73
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| 09/23/2008 11:30 AM |
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ha ha ha ha ha.
7 words
you are going to lose your ass |
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hibiscus
Posts:45
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| 09/23/2008 2:05 PM |
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| Pretty hilarious "prediction", ownhome. I like how you plan on that line arresting and then moving back up. Unfortunately, our economy has been destroyed by TPTB and wages haven't kepd up, so there's very little to enable the economy to turn that trend around any time soon. |
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ownhomeinSD
Posts:168
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| 09/23/2008 2:40 PM |
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| I may be right and you may be wrong or I may be wrong and you may be right. It is PEDICTION. Some coming factors may affect market for a short term but not long term. It is not my business to encourage people to buy home or not. But I don't want to see many 1st time home buyers (experienced home buyers may well know how the market is now) are misleaded to expect home price declined to 1999 price and lost their chance to buy home at near bottom prices. |
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wilson
Posts:670
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| 09/23/2008 7:31 PM |
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ownhome,
Cross the ultra-bears at your own peril!!! |
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