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Just to follow up... https://www.seattletimes.com/business/real-estate/seattle-home-prices-down-80000-from-peak-amid-unprecedented-spike-in-homes-sitting-unsold/

Congratz.  You sold at the right time and you obviously realize it.

Who said there was a 40%+ drop?  What area were you looking at where it only dropped 10-15%? 

Thats what I thought. 

Agree.  I know people keep saying ONLY 5% or 10%, but 5-10% in Irvine is easily 50-150K!  Its not small change.  Even if prices stayed the same, its still a price drop as the value of money used to buy the house will be about 2-2.5% less per year due to inflationary pressures.  Furthermore, its...

Agree.  I do not think this slowdown will be anything similar to the 2008 crash.  Fortunately, I was not around for the 2008 crash, but I thought Irvine fell more than 20%.  Regardless, I highly doubt this slowdown will resemble anything like the last crash. 

Im not trying to get technical but Im just saying it doesnt make any sense to make 250K, while spending 250K and tying up 500K in the process.  Its interesting to think that a FCB would care so much about selling at peak prices for maximal $, but not care about the $ they are leaving on the...

In my opinion this is MINROI.  The 250K gain is literally negated by the 250K in carrying costs.  If you factor in the opportunity costs this a NEGATIVEROI. 

I dont know if there is any data on residential housing.  Commercial real estate has seen huge sell offs those.  I believe 1.3B sold vs 0.126B bought in Q2 of this year.  Whether commercial is any indication of residential is unknown. 

If this was a new home, then they probably put in at least another 100K into the house on top of the purchase price.  Im sure just the landscaping was probably about 75k or so. 

Honestly it hurts my head to respond to nonsense from you.  I have yet seen anything substantial from your posts that is convincing in any way.  until then, id rather waste my time counting the number of grass blades in my backyard. 

Do you even know what a strawman is? Did I ever say opinions do not matter?  I dare you to go back and quote exactly what I said.  My exact quote was "In the end, no one should really care about my opinion".  The context of what I really said and what you insinuate are completely different. ...

Exactly this. 

I think you really have a biased view.  How does your poll show people think it will be flat or UP?  It seems pretty damn split to me between the down and up votes.  Not that it matters but if anything there is more down vote than up. 

When one makes an argument against claims never made, that is the definition of a strawman. What does a claim made by OTHER people on ANOTHER blog 10 freaking years ago have anything to do with THIS thread? Predicting future prices is futile, which is why I dont understand your obsession for...

Yes you are the king of this.  If you could make a case against what I actually do say, it would be a better discussion. Who predicted the >50% drop?  No one is talking about this but you.  This is what I mean by strawman arguments you make. No one made this argument, but you insinuate people...

Bad example to use.  Do you realize what is happening in Seattle right now?  Sales are plummeting, inventory is skyrocketing and they are actually seeing prices fall now.  This is the beginning so who knows how bad it will get there.  Based on the trend, it doesnt seem like it will get better...

As expected, I didnt think you would have anything to say because charts like this are hard to refute coming from your point of view. I actually did respond earlier, but Ill repeat it again.  First of all, its a fallacy to think you can have prices (whether high or low) INDEPENDENT of...

You dont want to drop the bickering and move on it seems.  Lets keep the discussion pertinent recent housing. Id love to hear your thoughts on the most recent chart I just posted. 

Just to spice up the discussion a bit, here is a graph from Steve Thomas from Reports on Housing.  The graph depicts YoY changes from 2017. I do not think anyone can make the argument that low inventory is the cause of low sales volume anymore.