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I think what's stupid is people sitting around trying to ask/predict/answer the following...like they know it to be true. 1. Mortgage Rates going up in 2011? 2. Market bottoming in 2011? 3. When's the best time to buy? The overthinking part implies that one should not try to...

For the average person, The best time to buy is when you can afford to do so! Dont overthink or make things more complicated than that...

I thought SOCAL just posted that AZ David DID NOT think that BK was racist. And that BK's postings are generalizations... Are we out of things to talk or write about?

Do you think the FED knew or didnt care that raising interest rates 300 points would/did send OC into bankruptcy? Or is it mismanagement of the funds by OC? If the FED did know what they were doing, are you saying that they would do the same thing this time around? With the whole whole in...

If you're playing with borrowed money that you cannot pay back. Who are "those" that you are referring too?

So it is and will be different this time?

Yes, that's saving. That's saving from not buying. As for Renting, you can save from renting by renting something cheaper, etc.

To me, Buying a house is about calculating how much you can afford. If you are calculating how much you can make in the transaction for the next 10 years by buying or not buying, then you're looking at it from an investment perspective.

I thought these were the homes that we want to buy on the Irvine blog. What other homes? areas are we talking about then?

So it's an affordability issue for you. Not that you cant "afford" it, but that you want it to be more affordable? So would you say that if price for the home that you want do not go to the scale of earning/buying power you're at, you will never buy? Or would you settle for your 2nd, 3rd...

So for the example of the home that already went down 20%, we're saying that it went down another 20% from the current price. 1mil -> 800K -> 640K -> 800K Let's track this possibility for an SFR (in Woodbury? Northpark? Northpark Square? Quail Hill?) that WE WOULD WANT TO BUY and stay...

I was being dramatic but it's sad at the same time. Rent or Mortgage, if you lose your job and have huge medical bills, you're SOL. If you're actually planning this into your equation like SOCAL is, nobody should buy. EVER! The average person that is.

My scenario if for a 30 year fixed 20% down SFR. You can bring a bad/worst case scenario like losing a job/medical bills into the picture but At that point, whether you're a buying the home for a 20% or 40% discount, would it even matter? You might not be able to afford RENT!

I think you're talking about affordability. This should have been factored into buying the home already. Whether you stay in it for a year's time, you need to know that you can afford it for 10 years or more.

So I should be asking you this question... Would you like to own for 10 years and have all the benefits that come with it? Or Would you like to rent for 10 years and have all the benefits that come with it?

If the home is a keeper for 10 years, it should be relatively new in a nice neighborhood, by IHB standards? It's going to be commanding top dollar. As IPO has shown in his sale stats. These homes have shown a range of 5%-20% decline from the peak? The more these homes have dropped, I...

You can buy the home you would want to stay in for 10 years and still move up. Your earning power should increase by then. Your wants and needs should have changed.

I like your honestly!

Most People like to own period! They just dont want to buy something that would depreciate in value. As for appreciating, that's an extra bonus.