My wife sells 45 year loans now.
With all of the interest only loans out there all I am sure we will see plenty of defaults and foreclosures as soon as the market changes.
...not a vacation home by any means cause I would rather slit my wrist then spend one in Texas but we are about to purchase a brand new condo in Pasadena Texas. Of course it'll be for the long haul, but for $80k F it...I have car payments bigger than what the mortgage will be
Those of you that choose to wait for the California bubble to burst some day, keep on waiting...but at least invest in some form of real estate somewhere!!!!
You should get ready for the pop since we just closed in LHC. Hang on for the rush of hot air...
Steve
Those of you that choose to wait for the California bubble to burst some day, keep on waiting...but at least invest in some form of real estate somewhere!!!!
Because we all know R/E prices in CA never go down!
Because we all know R/E prices in CA never go down!
I ain't gettin into it with you again....I think we have had this discussion going on for 2 years now and you waiters are still waiting. I choose to hold the opinion that there will be no burst and you choose to hold the opinion that there will be....all that aside, BUY SOMETHING SOMEWHERE NOW!!!!!!!!
You should get ready for the pop since we just closed in LHC. Hang on for the rush of hot air...
Steve
Closed what?
I think the bubble wil burst - nothing to with demand. Pure affordability issues.
When the market flattens and lenders finally get a clue and cut off the equity ATM machine most people have been tapping for five years - something has gotta give.
100%, 45 year interest only loans? Lenders will be banging their heads against the wall when it goes south.
When? Who knows, we're cashing out now!
It is always a good time buy. Just buy what you can afford.
Still have the law of supply and demand going on. As much as they keep saying the bubble has to burst, there is still a shortage of homes in CA. I also think lenders are going to wh0re themselves out to keep the market going(they already are).
Ziggy
We just bought a lot a Havasu Heights. Getting ready to build a shop then a house.
Steve
The Havasu bubble will be big once So Cal softens. The people that live there can't afford the homes anymore because the 2nd home people fronm Cali have driven up values so high. The avg hourly wage to afford a house in Havasu now is $36.00. That's crazy and the infrastructure can't handle that. I'll sit on side lines and wait for the FC's in Havasu to happen. People who have 2nd homes in Havasu will walk away from them as oppossed to their primary home. You won't se a burst in So Cal you'll see a softer market but Havasu and other places with 2nd homes and investments homes listen for the bang because it's coming......
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