Comments on: California Housing Forecast for 2010: 5 Reasons why you Shouldn’t Buy a Home in California in 2010. 22 Percent unemployment and underemployment, home owned’ership, California Budget, Option ARMs, and Consumer Psychology.

By: Gorgeous Jones

Gorgeous Jones — Thu, 08 Apr 2010 16:41:16 +0000

Naomi, switch to decaf. But thanks anyway for the hilarity.

By: Naomi

Naomi — Tue, 19 Jan 2010 20:41:00 +0000

Buy buy buy! What are you waiting for? It can’t get any cheaper and even if it did, interest rates will go up. I bought a bank owned and even though I lost $100,000 or more in equity (as I bought it in 2007) I am still happy that I am in a house rather then renting from a lousy landlord. You are in a house and that is the American Dream and as long as you can afford it you should stay there. For sure your equity will eventually go back up especially from today’s prices. Don’t wait – buy now if you can.

By: uburoisc

uburoisc — Tue, 19 Jan 2010 04:02:53 +0000

AnnS, you’re withering wit reminds me of Jeane Kirkpatrick taking on the UN: they never even knew what hit them. Whenever I read something posted that is particularly thoughtless, I eagerly scroll down to see the evisceration that’s sure to be on the way; it might take a few comments, but it’s always there, right on target. Dr Housing is a regular read because you’re a regular delight.

By: TakeFive

TakeFive — Mon, 18 Jan 2010 23:08:21 +0000

I largely concur with SoCal Realtor. I know two couples “that are working at stable, secure jobs with decent salaries” of $100K+ combined and they have repeatedly been shut out from buying by competition from other buyers.

I mean these guys race to the fax machine to get their signed offers in, and still loose. One guy’s agent told him to overbid by $30K if he wanted chance. Well faithful blog readers (including me) would insist this is nonsense, but those are the facts on the ground.

Another buyer I know has been waiting for the last 2 years for Pasadena prices to drop. They’re easing the tinyest bit, but not dropping any significant amount. Plus, there’s not a lot of desirable properities currently available. This is another buyer that is WELL qualified.

Those of you waiting for prices to drop back to 1990 or 2000 are going to be renting for a very long time. Simple fact is the DESIRE for property has not gone away. The means of aqusition has gotten more difficult, but demand has not gone away.

By: TakeFive

TakeFive — Mon, 18 Jan 2010 21:21:08 +0000

Comment by Amy
January 18th, 2010 at 12:15 pm

SoCal Realtor -

I hear you, but believe that higher interest rates and lower house prices are good for the buyer for two main reasons:
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Third reason – lower property tax basis.

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Hopefully this comment will make it through moderation!