Father's day

<p>Get this: I'm at my folks' for Father's Day and my mom hands me some ads for houses in HB. I hand them back to her and say that I won't be buying a house probably for a few years. Then she replies that the sooner I buy a house, the sooner I can start building equity! I laughed and told her that that is not true.</p>

<p>The funny thing is that I don't think she is atypical of the existing home owners. Its like nobody realizes how out of whack things are and that gravity always wins! It may disappear for a while in the RE market, but it will come back. It always comes back!</p>

<p>My parents mean well and I'm slowly trying to educate them.</p>
 
What a coincidence! My parents came over for Father's Day. I'm renting right now (but have a house I'm thinking of selling, see other thread). He says to me "I've heard that housing prices are going up." I try to tell him otherwise, but he says "...that's what I heard on the news." He means well too.
 
<p>First I hope all the readers that are fathers had a great day. Especially IrvineRenter who not only works hard with his job but works very hard to add his thoughts here and finds plenty of time to be a dad!</p>

<p>What is funny is my family is the opposite and is quite bearish on RE right now. I don't want to brag but my family has been involved with socal RE for many years and has done quite well with it. I have learned a lot from them and they agree it is not going up right now or anytime soon. My dad always gave great advice about RE investing and a rental property he and the family bought in a market that was near the bottom is where I base my principles of RE investing from. That property has always supplemented income when it was needed for the family. This is something you cannot find today. When I talk to my mom about the current conditions she reminds me how much it reminds her of the 90s. They somehow survived that time and didn't ever make a late payment when things got rough. It may be that they were conservative in the first place but they also saw people lose their homes in that time. One thing they both said was it wasn't just the jobs but the prices of homes that hurt the market. </p>
 
<p>It's good to know that a family that has done quite well in RE as an investment in the past is bearish now.</p>

<p>Such successful people will be rare specimens in the future.</p>
 
<p>I was in Palm Springs this weekend and stopped by an open house on Father's Day (I was surprised there even was one on this day !)</p>

<p>To make a long story short, I asked her how the market was doing down here (P.S.)...she said "horrible".... hey, at least she's honest ! When I asked her why she thought that was, her reply was "THE MEDIA". HA. </p>
 
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