How Long Should I Live With My Mother-In-Law?

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I agree. I can never see myself living with my girlfriend's parents. On the other hand, I wouldn't even want to live with my own parents.

If you can afford it and are over the age of 25, don't move back with parents.

I know a gal who bought a house with her husband and his parents. So the four of them plus two of her kids live together. Big mistake. They have been looking to buy a house of their own ever since. They are already considering selling off their share and renting a place off their own.

I think living with your parents in your 20's is socially acceptable now. But once you near 30, you really should avoid it.
 
I take it back. We're already seeing 2004 prices. But you might need to evaluate the quality of the homes currently being sold. Due to the "distressed" sales, it might be like comparing apples to oranges. I have to say though that buying a home at 2005 or 2006 prices is financial suicide.
 
"I take it back. We're already seeing 2004 prices."

Don't feel bad, the speed and depth of this decline has made even the most bearish projections look conservative. Nobody thought it would get this bad this fast.
 
IR - Honestly I can say that while I did not forsee any specific percentage decline, I did not doubt for a second that 18% or worse could have been possible the last year and the next years could be worse.
 
Hey, I think that with another 18% drop, we'll be back to normal. So let's hope for a bottom in 2009... so real estate won't be such an issue anymore.
 
Can you honestly say you foresaw an 18% decline in less than a year?

Specifically 18%? No. Making predictions like this is a quick way to get yourself filed into the "loony bin of analysts". There are enough nutcases out there (look at lassner's blog). Nobody's got a crystal ball.

When I was an undergraduate I took a sick interest in technical trading techniques. I quickly (anecdotally) realized that if you have a trend, once the fundamentals changed, it usually came apart with roughly the same energy that it took to build it. Not always because no two market events are never the same, but often enough to know that there was more than coincidence driving it. And when I had customers in 2003-4 getting 100% financing no doc loans (individuals who I knew grossed $30K a year) buying $500K homes I knew that it couldn't last forever.

I think I've been pretty clear (here and other places) that once the correction started it would be Katy bar the door to the bottom - bigger and faster than anyone was considering. In fairness, it was my opinion that this would start at the end of this quarter/beginning of next quarter and be driven by some lender who pulled the trigger and unloaded a bunch of REO's at %20 off current market places. Considering that shoe hasn't dropped yet, it is very possible to see the trend down accelerate.

Evidence? http://lansner.freedomblogging.com/2008/02/15/foreclosures-38-of-oc-home-trades/

Also, you might rememer that I've been chastizing you for the last two months or so that your chart is too bullish and too conservative.

To summize, we've had several 30-35% increases YOY with no change in fundamentals, so IMO 18-20% downticks (smaller in percentage but the same in dollars as the increases) are not only not unexpected, they are easily predictable. The whole "when" deal is the trick that nobody has figured out. But that whole reversion to the mean thing is a real bitch sometimes.
 
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Chartporn from above OC regester thread.

Goose-"We're going ballistic Mav go get him"

mavrick.jpg
 
Some people thought IR's projections were optimistic about rate. But it was a minority opinion, and IR is spot on that nobody was on record predicting a 3%/month drop for an extended period (Correct me if I'm wrong!). The projections were based mostly on the 90's experience of a long, relatively slow decline over 7 years, just scaled up. What I think happened, based on my analysis of payment/income ratios, was that the 90's collapse had two parts: a relatively quick (3 years or so) collapse of prices to rent equivalence, followed by a period where rent equivalence fell due to rising interest rates as we came out of the recession. It just so happened that in the 90's the two events had somewhat similar rates. Since this bubble was substantially bigger, the initial drop is faster. After the crash is done, we will still see several more years of slow decline as the economy recovers and interest rates rise again.
 
Ok, I'm a mother-in-law and will be until my son's divorce comes through in early March. The daughter in law dumped him for no reason I can see.

I was nice to her. When they were dating she spent far more time at our house than her house. Until she went weird and dumped him, I thought she liked me and enjoyed being in my house. Got along with her fine before she dumped my son. Havent seen the b**ch since and don't want to.

Mine was the house where all the teenage boys hung out when he was in high school.

I really don't like generic mother in law comments. That said, I wouldn't have wanted to live with my mothe in law!! We lived in a 3rd floor walk up in Balto, which we rented for $75.00 per month, including all utilities but phone. We also lived on $4800 a year, and both of those amounts were exceedingly low, even in 1966. No A/C. Under a tar roof. Had fans pushing and pulling air in the windows on either side of the apt. Mother in law had lots of room. Never crossed our minds.
 
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