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[irvinebullhousing]

We could be in a sideways consolidation path (range bound )  for several months here before taking a leg higher

No one is disputing that there are better deals to be had , compared to say last year .

But when you say ?correction ? ? it means a bear market ? I think that?s where people need to Provide more hard data than just anecdotes on FCBs

This is the first time I heard from you that there is a price break.

In just my last post I said that if you can comfortably afford to buy , use the weakness to negotiate a better deal ?- be it a choice lot, builder incentives or seller incentives .  And also that if you are stretching to buy , there is optionality in waiting

Stocks are also in a consolidation phase right now with sector rotation going on

Many sellers price their homes way too optimistically and that?s where list to sale price ratio can be higher , doesn?t mean market is in correction territory . This is my opinion .

My only fear is eyephone generally has a good pulse on the latest  trends in everything else , so what is he seeing this time that I am missing

this is one of the biggest issues in my mind.  we've been seeing such a run up in the market that sellers are pricing their homes optimistically high with hope that just one person will pay their inflated price. this creates artificially larger inventory and everyone's ears perk up when they start seeing price reductions, even though homes that are priced properly to begin with sell within 30 days.

This is very true, but seeing those optimistically high priced homes could be the beginning of the crack as those could potentially lead to price reduction competitions and the whole phycological affect might pull the trigger from the buyer's side.

Homes priced properly are selling well regardless of seeing price reductions on overpriced homes. But at the same time, what does that priced properly mean? Are those really priced right or they just look that way since the market has gone too far with those optimistic listings?

Everyone is feeling the price peak whether you own properties or not. The correction is needed. No one knows when or how, but you do see the need of some kind of correction in this business. Of course as owners, we don't want to see depreciation for our homes so out of fear, we are saying it might stay flat or it might go down 5% or less, but let's be real. Even if the prices were to drop 20%, most of you who bought years ago will still be enjoying the appreciation.

So your logics is everyone that want to buy a house should be able to buy a house and price need to come down to a certain level so all can own? This is like saying everyone want a million bucks in their bank and doesn?t care where it comes from just make it happen. This logic is non sense.


If you want a house, you gotta go where you can afford it. If price is high and if you want to live in a certain neighborhood, then renting is the answer. That?s why Irvine Co. is continuing building apartments. And they continue to raise rental leasing without fear. Mind you that their rental rate is not cheap either.

 

[Mety]

We could be in a sideways consolidation path (range bound )  for several months here before taking a leg higher

No one is disputing that there are better deals to be had , compared to say last year .

But when you say ?correction ? ? it means a bear market ? I think that?s where people need to Provide more hard data than just anecdotes on FCBs

This is the first time I heard from you that there is a price break.

In just my last post I said that if you can comfortably afford to buy , use the weakness to negotiate a better deal ?- be it a choice lot, builder incentives or seller incentives .  And also that if you are stretching to buy , there is optionality in waiting

Stocks are also in a consolidation phase right now with sector rotation going on

Many sellers price their homes way too optimistically and that?s where list to sale price ratio can be higher , doesn?t mean market is in correction territory . This is my opinion .

My only fear is eyephone generally has a good pulse on the latest  trends in everything else , so what is he seeing this time that I am missing

this is one of the biggest issues in my mind.  we've been seeing such a run up in the market that sellers are pricing their homes optimistically high with hope that just one person will pay their inflated price. this creates artificially larger inventory and everyone's ears perk up when they start seeing price reductions, even though homes that are priced properly to begin with sell within 30 days.

This is very true, but seeing those optimistically high priced homes could be the beginning of the crack as those could potentially lead to price reduction competitions and the whole phycological affect might pull the trigger from the buyer's side.

Homes priced properly are selling well regardless of seeing price reductions on overpriced homes. But at the same time, what does that priced properly mean? Are those really priced right or they just look that way since the market has gone too far with those optimistic listings?

Everyone is feeling the price peak whether you own properties or not. The correction is needed. No one knows when or how, but you do see the need of some kind of correction in this business. Of course as owners, we don't want to see depreciation for our homes so out of fear, we are saying it might stay flat or it might go down 5% or less, but let's be real. Even if the prices were to drop 20%, most of you who bought years ago will still be enjoying the appreciation.

So your logics is everyone that want to buy a house should be able to buy a house and price need to come down to a certain level so all can own? This is like saying everyone want a million bucks in their bank and doesn?t care where it comes from just make it happen. This logic is non sense.


If you want a house, you gotta go where you can afford it. If price is high and if you want to live in a certain neighborhood, then renting is the answer. That?s why Irvine Co. is continuing building apartments. And they continue to raise rental leasing without fear. Mind you that their rental rate is not cheap either.

I don't think that's my logic at all. Forgive me if I've given that vibe.
My point is the price is pretty high now and many of those ridiculously overpriced homes are not helping at all.
Those listings will only hurt the RE market as they are the ones creating false hopes and fears.

I do not want the market to crash. That will hurt more people in this country than the opportunity for entry level buyers to buy. The true proper prices should be along the lines of means of incomes of the citizens. As of now, that is not the case and it only creates bigger and bigger bubble to burst.

 

[usctrojancpa]

We could be in a sideways consolidation path (range bound )  for several months here before taking a leg higher

No one is disputing that there are better deals to be had , compared to say last year .

But when you say ?correction ? ? it means a bear market ? I think that?s where people need to Provide more hard data than just anecdotes on FCBs

This is the first time I heard from you that there is a price break.

In just my last post I said that if you can comfortably afford to buy , use the weakness to negotiate a better deal ?- be it a choice lot, builder incentives or seller incentives .  And also that if you are stretching to buy , there is optionality in waiting

Stocks are also in a consolidation phase right now with sector rotation going on

Many sellers price their homes way too optimistically and that?s where list to sale price ratio can be higher , doesn?t mean market is in correction territory . This is my opinion .

My only fear is eyephone generally has a good pulse on the latest  trends in everything else , so what is he seeing this time that I am missing

this is one of the biggest issues in my mind.  we've been seeing such a run up in the market that sellers are pricing their homes optimistically high with hope that just one person will pay their inflated price. this creates artificially larger inventory and everyone's ears perk up when they start seeing price reductions, even though homes that are priced properly to begin with sell within 30 days.

DING DING DING!  You sir nailed it with your observations.  The number of "dreamer" sellers that are looking for a sucker buyer has significantly increased in the past 3-6 months.

 

[usctrojancpa]

We could be in a sideways consolidation path (range bound )  for several months here before taking a leg higher

No one is disputing that there are better deals to be had , compared to say last year .

But when you say ?correction ? ? it means a bear market ? I think that?s where people need to Provide more hard data than just anecdotes on FCBs

This is the first time I heard from you that there is a price break.

In just my last post I said that if you can comfortably afford to buy , use the weakness to negotiate a better deal ?- be it a choice lot, builder incentives or seller incentives .  And also that if you are stretching to buy , there is optionality in waiting

Stocks are also in a consolidation phase right now with sector rotation going on

Many sellers price their homes way too optimistically and that?s where list to sale price ratio can be higher , doesn?t mean market is in correction territory . This is my opinion .

My only fear is eyephone generally has a good pulse on the latest  trends in everything else , so what is he seeing this time that I am missing

this is one of the biggest issues in my mind.  we've been seeing such a run up in the market that sellers are pricing their homes optimistically high with hope that just one person will pay their inflated price. this creates artificially larger inventory and everyone's ears perk up when they start seeing price reductions, even though homes that are priced properly to begin with sell within 30 days.

This is very true, but seeing those optimistically high priced homes could be the beginning of the crack as those could potentially lead to price reduction competitions and the whole phycological affect might pull the trigger from the buyer's side.

Homes priced properly are selling well regardless of seeing price reductions on overpriced homes. But at the same time, what does that priced properly mean? Are those really priced right or they just look that way since the market has gone too far with those optimistic listings?

Everyone is feeling the price peak whether you own properties or not. The correction is needed. No one knows when or how, but you do see the need of some kind of correction in this business. Of course as owners, we don't want to see depreciation for our homes so out of fear, we are saying it might stay flat or it might go down 5% or less, but let's be real. Even if the prices were to drop 20%, most of you who bought years ago will still be enjoying the appreciation.

So your logics is everyone that want to buy a house should be able to buy a house and price need to come down to a certain level so all can own? This is like saying everyone want a million bucks in their bank and doesn?t care where it comes from just make it happen. This logic is non sense.


If you want a house, you gotta go where you can afford it. If price is high and if you want to live in a certain neighborhood, then renting is the answer. That?s why Irvine Co. is continuing building apartments. And they continue to raise rental leasing without fear. Mind you that their rental rate is not cheap either.

I don't think that's my logic at all. Forgive me if I've given that vibe.
My point is the price is pretty high now and many of those ridiculously overpriced homes are not helping at all.
Those listings will only hurt the RE market as they are the ones creating false hopes and fears.

I do not want the market to crash. That will hurt more people in this country than the opportunity for entry level buyers to buy. The true proper prices should be along the lines of means of incomes of the citizens. As of now, that is not the case and it only creates bigger and bigger bubble to burst.

If you think that prices are high in Irvine, go to West LA, Santa Monica, the South Bay, the Bay Area, Corona Del Mar, or even Newport Beach/Coast...then you'll see what high prices.

 

[fortune11]

We could be in a sideways consolidation path (range bound )  for several months here before taking a leg higher

No one is disputing that there are better deals to be had , compared to say last year .

But when you say ?correction ? ? it means a bear market ? I think that?s where people need to Provide more hard data than just anecdotes on FCBs

This is the first time I heard from you that there is a price break.

In just my last post I said that if you can comfortably afford to buy , use the weakness to negotiate a better deal ?- be it a choice lot, builder incentives or seller incentives .  And also that if you are stretching to buy , there is optionality in waiting

Stocks are also in a consolidation phase right now with sector rotation going on

Many sellers price their homes way too optimistically and that?s where list to sale price ratio can be higher , doesn?t mean market is in correction territory . This is my opinion .

My only fear is eyephone generally has a good pulse on the latest  trends in everything else , so what is he seeing this time that I am missing

this is one of the biggest issues in my mind.  we've been seeing such a run up in the market that sellers are pricing their homes optimistically high with hope that just one person will pay their inflated price. this creates artificially larger inventory and everyone's ears perk up when they start seeing price reductions, even though homes that are priced properly to begin with sell within 30 days.

This is very true, but seeing those optimistically high priced homes could be the beginning of the crack as those could potentially lead to price reduction competitions and the whole phycological affect might pull the trigger from the buyer's side.

Homes priced properly are selling well regardless of seeing price reductions on overpriced homes. But at the same time, what does that priced properly mean? Are those really priced right or they just look that way since the market has gone too far with those optimistic listings?

Everyone is feeling the price peak whether you own properties or not. The correction is needed. No one knows when or how, but you do see the need of some kind of correction in this business. Of course as owners, we don't want to see depreciation for our homes so out of fear, we are saying it might stay flat or it might go down 5% or less, but let's be real. Even if the prices were to drop 20%, most of you who bought years ago will still be enjoying the appreciation.

So your logics is everyone that want to buy a house should be able to buy a house and price need to come down to a certain level so all can own? This is like saying everyone want a million bucks in their bank and doesn?t care where it comes from just make it happen. This logic is non sense.


If you want a house, you gotta go where you can afford it. If price is high and if you want to live in a certain neighborhood, then renting is the answer. That?s why Irvine Co. is continuing building apartments. And they continue to raise rental leasing without fear. Mind you that their rental rate is not cheap either.

I don't think that's my logic at all. Forgive me if I've given that vibe.
My point is the price is pretty high now and many of those ridiculously overpriced homes are not helping at all.
Those listings will only hurt the RE market as they are the ones creating false hopes and fears.

I do not want the market to crash. That will hurt more people in this country than the opportunity for entry level buyers to buy. The true proper prices should be along the lines of means of incomes of the citizens. As of now, that is not the case and it only creates bigger and bigger bubble to burst.

If you think that prices are high in Irvine, go to West LA, Santa Monica, the South Bay, the Bay Area, Corona Del Mar, or even Newport Beach/Coast...then you'll see what high prices.

This is called ?proximity bias ?

We are used to Irvine and OC prices being what they were

Need to readjust ? Irvine is still cheap by LA standards or Bay Area standards  ? point is , we are not going down in a vacuum

 

[Mety]

We could be in a sideways consolidation path (range bound )  for several months here before taking a leg higher

No one is disputing that there are better deals to be had , compared to say last year .

But when you say ?correction ? ? it means a bear market ? I think that?s where people need to Provide more hard data than just anecdotes on FCBs

This is the first time I heard from you that there is a price break.

In just my last post I said that if you can comfortably afford to buy , use the weakness to negotiate a better deal ?- be it a choice lot, builder incentives or seller incentives .  And also that if you are stretching to buy , there is optionality in waiting

Stocks are also in a consolidation phase right now with sector rotation going on

Many sellers price their homes way too optimistically and that?s where list to sale price ratio can be higher , doesn?t mean market is in correction territory . This is my opinion .

My only fear is eyephone generally has a good pulse on the latest  trends in everything else , so what is he seeing this time that I am missing

this is one of the biggest issues in my mind.  we've been seeing such a run up in the market that sellers are pricing their homes optimistically high with hope that just one person will pay their inflated price. this creates artificially larger inventory and everyone's ears perk up when they start seeing price reductions, even though homes that are priced properly to begin with sell within 30 days.

This is very true, but seeing those optimistically high priced homes could be the beginning of the crack as those could potentially lead to price reduction competitions and the whole phycological affect might pull the trigger from the buyer's side.

Homes priced properly are selling well regardless of seeing price reductions on overpriced homes. But at the same time, what does that priced properly mean? Are those really priced right or they just look that way since the market has gone too far with those optimistic listings?

Everyone is feeling the price peak whether you own properties or not. The correction is needed. No one knows when or how, but you do see the need of some kind of correction in this business. Of course as owners, we don't want to see depreciation for our homes so out of fear, we are saying it might stay flat or it might go down 5% or less, but let's be real. Even if the prices were to drop 20%, most of you who bought years ago will still be enjoying the appreciation.

So your logics is everyone that want to buy a house should be able to buy a house and price need to come down to a certain level so all can own? This is like saying everyone want a million bucks in their bank and doesn?t care where it comes from just make it happen. This logic is non sense.


If you want a house, you gotta go where you can afford it. If price is high and if you want to live in a certain neighborhood, then renting is the answer. That?s why Irvine Co. is continuing building apartments. And they continue to raise rental leasing without fear. Mind you that their rental rate is not cheap either.

I don't think that's my logic at all. Forgive me if I've given that vibe.
My point is the price is pretty high now and many of those ridiculously overpriced homes are not helping at all.
Those listings will only hurt the RE market as they are the ones creating false hopes and fears.

I do not want the market to crash. That will hurt more people in this country than the opportunity for entry level buyers to buy. The true proper prices should be along the lines of means of incomes of the citizens. As of now, that is not the case and it only creates bigger and bigger bubble to burst.

If you think that prices are high in Irvine, go to West LA, Santa Monica, the South Bay, the Bay Area, Corona Del Mar, or even Newport Beach/Coast...then you'll see what high prices.

This is called ?proximity bias ?

We are used to Irvine and OC prices being what they were

Need to readjust ? Irvine is still cheap by LA standards or Bay Area standards  ? point is , we are not going down in a vacuum

Who said Irvine was expensive?

I don't like to exclude Irvine from the rest of the country like it's a special little place.
That means, if the home prices in the United States are going up, Irvine homes will go up as well and if the prices are going down, Irvine homes will go down as well. Although Irvine's going up rate tends to be faster and the down rate slower, it is not an immortal city.

Yes, Irvine has many FCBs who might not be impacted by recessions, but I think still the majority of Irvine buyers are American family with kids living here no matter what ethnicity. Even if FCBs were the majority, this market has become a global thing now and what happens in China or any other country might have a huge impact in any other nations including the United States at the same time.

I'm not saying Irvine is expensive. Like USC said, there are so many more expensive cities. The RE market in the United States (and many other countries) is most likely at the peak. Would it go even higher? Sure, who knows if that Delano will become $1.5m? But most people see the price is just ridiculous. The condo living above garages is at $800k in Irvine. LA county is even worse and everyone knows about the Bay area.

These are my opinions. Would RE stay flat, go up, or go down? No one knows. But people do think it's pretty darn expensive right now and there is a slow down currently throughout the country.

 

[usctrojancpa]

We could be in a sideways consolidation path (range bound )  for several months here before taking a leg higher

No one is disputing that there are better deals to be had , compared to say last year .

But when you say ?correction ? ? it means a bear market ? I think that?s where people need to Provide more hard data than just anecdotes on FCBs

This is the first time I heard from you that there is a price break.

In just my last post I said that if you can comfortably afford to buy , use the weakness to negotiate a better deal ?- be it a choice lot, builder incentives or seller incentives .  And also that if you are stretching to buy , there is optionality in waiting

Stocks are also in a consolidation phase right now with sector rotation going on

Many sellers price their homes way too optimistically and that?s where list to sale price ratio can be higher , doesn?t mean market is in correction territory . This is my opinion .

My only fear is eyephone generally has a good pulse on the latest  trends in everything else , so what is he seeing this time that I am missing

this is one of the biggest issues in my mind.  we've been seeing such a run up in the market that sellers are pricing their homes optimistically high with hope that just one person will pay their inflated price. this creates artificially larger inventory and everyone's ears perk up when they start seeing price reductions, even though homes that are priced properly to begin with sell within 30 days.

This is very true, but seeing those optimistically high priced homes could be the beginning of the crack as those could potentially lead to price reduction competitions and the whole phycological affect might pull the trigger from the buyer's side.

Homes priced properly are selling well regardless of seeing price reductions on overpriced homes. But at the same time, what does that priced properly mean? Are those really priced right or they just look that way since the market has gone too far with those optimistic listings?

Everyone is feeling the price peak whether you own properties or not. The correction is needed. No one knows when or how, but you do see the need of some kind of correction in this business. Of course as owners, we don't want to see depreciation for our homes so out of fear, we are saying it might stay flat or it might go down 5% or less, but let's be real. Even if the prices were to drop 20%, most of you who bought years ago will still be enjoying the appreciation.

So your logics is everyone that want to buy a house should be able to buy a house and price need to come down to a certain level so all can own? This is like saying everyone want a million bucks in their bank and doesn?t care where it comes from just make it happen. This logic is non sense.


If you want a house, you gotta go where you can afford it. If price is high and if you want to live in a certain neighborhood, then renting is the answer. That?s why Irvine Co. is continuing building apartments. And they continue to raise rental leasing without fear. Mind you that their rental rate is not cheap either.

I don't think that's my logic at all. Forgive me if I've given that vibe.
My point is the price is pretty high now and many of those ridiculously overpriced homes are not helping at all.
Those listings will only hurt the RE market as they are the ones creating false hopes and fears.

I do not want the market to crash. That will hurt more people in this country than the opportunity for entry level buyers to buy. The true proper prices should be along the lines of means of incomes of the citizens. As of now, that is not the case and it only creates bigger and bigger bubble to burst.

If you think that prices are high in Irvine, go to West LA, Santa Monica, the South Bay, the Bay Area, Corona Del Mar, or even Newport Beach/Coast...then you'll see what high prices.

This is called ?proximity bias ?

We are used to Irvine and OC prices being what they were

Need to readjust ? Irvine is still cheap by LA standards or Bay Area standards  ? point is , we are not going down in a vacuum

Who said Irvine was expensive?

I don't like to exclude Irvine from the rest of the country like it's a special little place.
That means, if the home prices in the United States are going up, Irvine homes will go up as well and if the prices are going down, Irvine homes will go down as well. Although Irvine's going up rate tends to be faster and the down rate slower, it is not an immortal city.

Yes, Irvine has many FCBs who might not be impacted by recessions, but I think still the majority of Irvine buyers are American family with kids living here no matter what ethnicity. Even if FCBs were the majority, this market has become a global thing now and what happens in China or any other country might have a huge impact in any other nations including the United States at the same time.

I'm not saying Irvine is expensive. Like USC said, there are so many more expensive cities. The RE market in the United States (and many other countries) is most likely at the peak. Would it go even higher? Sure, who knows if that Delano will become $1.5m? But most people see the price is just ridiculous. The condo living above garages is at $800k in Irvine. LA county is even worse and everyone knows about the Bay area.

These are my opinions. Would RE stay flat, go up, or go down? No one knows. But people do think it's pretty darn expensive right now and there is a slow down currently throughout the country.

I don't know where prices will go next month or next year but I'll tell you this much, in 7-10 years Irvine home prices will be higher than they are today and I'm very confident of that.

 

[Lallo]

Current stage = Denial

 

[irvinehomeowner]

Current stage = Denial

Who does that apply to? People who think the prices will drop or people who think the prices won't drop?

 

[irvinebullhousing]

Current stage = Denial

I feel your pain too.  . Really, who wouldn't want to buys on the cheaper side.

 

[Mety]

Current stage = Denial

Who does that apply to? People who think the prices will drop or people who think the prices won't drop?

I believe Lallo means the latter.

 

[Mety]

We could be in a sideways consolidation path (range bound )  for several months here before taking a leg higher

No one is disputing that there are better deals to be had , compared to say last year .

But when you say ?correction ? ? it means a bear market ? I think that?s where people need to Provide more hard data than just anecdotes on FCBs

This is the first time I heard from you that there is a price break.

In just my last post I said that if you can comfortably afford to buy , use the weakness to negotiate a better deal ?- be it a choice lot, builder incentives or seller incentives .  And also that if you are stretching to buy , there is optionality in waiting

Stocks are also in a consolidation phase right now with sector rotation going on

Many sellers price their homes way too optimistically and that?s where list to sale price ratio can be higher , doesn?t mean market is in correction territory . This is my opinion .

My only fear is eyephone generally has a good pulse on the latest  trends in everything else , so what is he seeing this time that I am missing

this is one of the biggest issues in my mind.  we've been seeing such a run up in the market that sellers are pricing their homes optimistically high with hope that just one person will pay their inflated price. this creates artificially larger inventory and everyone's ears perk up when they start seeing price reductions, even though homes that are priced properly to begin with sell within 30 days.

This is very true, but seeing those optimistically high priced homes could be the beginning of the crack as those could potentially lead to price reduction competitions and the whole phycological affect might pull the trigger from the buyer's side.

Homes priced properly are selling well regardless of seeing price reductions on overpriced homes. But at the same time, what does that priced properly mean? Are those really priced right or they just look that way since the market has gone too far with those optimistic listings?

Everyone is feeling the price peak whether you own properties or not. The correction is needed. No one knows when or how, but you do see the need of some kind of correction in this business. Of course as owners, we don't want to see depreciation for our homes so out of fear, we are saying it might stay flat or it might go down 5% or less, but let's be real. Even if the prices were to drop 20%, most of you who bought years ago will still be enjoying the appreciation.

So your logics is everyone that want to buy a house should be able to buy a house and price need to come down to a certain level so all can own? This is like saying everyone want a million bucks in their bank and doesn?t care where it comes from just make it happen. This logic is non sense.


If you want a house, you gotta go where you can afford it. If price is high and if you want to live in a certain neighborhood, then renting is the answer. That?s why Irvine Co. is continuing building apartments. And they continue to raise rental leasing without fear. Mind you that their rental rate is not cheap either.

I don't think that's my logic at all. Forgive me if I've given that vibe.
My point is the price is pretty high now and many of those ridiculously overpriced homes are not helping at all.
Those listings will only hurt the RE market as they are the ones creating false hopes and fears.

I do not want the market to crash. That will hurt more people in this country than the opportunity for entry level buyers to buy. The true proper prices should be along the lines of means of incomes of the citizens. As of now, that is not the case and it only creates bigger and bigger bubble to burst.

If you think that prices are high in Irvine, go to West LA, Santa Monica, the South Bay, the Bay Area, Corona Del Mar, or even Newport Beach/Coast...then you'll see what high prices.

This is called ?proximity bias ?

We are used to Irvine and OC prices being what they were

Need to readjust ? Irvine is still cheap by LA standards or Bay Area standards  ? point is , we are not going down in a vacuum

Who said Irvine was expensive?

I don't like to exclude Irvine from the rest of the country like it's a special little place.
That means, if the home prices in the United States are going up, Irvine homes will go up as well and if the prices are going down, Irvine homes will go down as well. Although Irvine's going up rate tends to be faster and the down rate slower, it is not an immortal city.

Yes, Irvine has many FCBs who might not be impacted by recessions, but I think still the majority of Irvine buyers are American family with kids living here no matter what ethnicity. Even if FCBs were the majority, this market has become a global thing now and what happens in China or any other country might have a huge impact in any other nations including the United States at the same time.

I'm not saying Irvine is expensive. Like USC said, there are so many more expensive cities. The RE market in the United States (and many other countries) is most likely at the peak. Would it go even higher? Sure, who knows if that Delano will become $1.5m? But most people see the price is just ridiculous. The condo living above garages is at $800k in Irvine. LA county is even worse and everyone knows about the Bay area.

These are my opinions. Would RE stay flat, go up, or go down? No one knows. But people do think it's pretty darn expensive right now and there is a slow down currently throughout the country.

I don't know where prices will go next month or next year but I'll tell you this much, in 7-10 years Irvine home prices will be higher than they are today and I'm very confident of that.

I'm with you on that one. In 10 years, the starting salary for straight outta college kids would be in 6-figure range.
Unless that recession hits on that time being. 

 

[irvinehomeowner]

In 10 years, the starting salary for straight outta college kids would be in 6-figure range.

I dunno. Most industries don't pay that out of the gate for college grads.

 

[Mety]

In 10 years, the starting salary for straight outta college kids would be in 6-figure range.

I dunno. Most industries don't pay that out of the gate for college grads.

Just speculating. If $800k living above garages is going to be more expensive by 2028, then the starting salary should have inclined more also, don't you think?

 

[irvinehomeowner]

In 10 years, the starting salary for straight outta college kids would be in 6-figure range.

I dunno. Most industries don't pay that out of the gate for college grads.

Just speculating. If $800k living above garages is going to be more expensive by 2028, then the starting salary should have inclined more also, don't you think?

If you recall I already did this math from before. 

Majority of wages do not increase proportionately to real estate prices in certain areas.

 

[Mety]

In 10 years, the starting salary for straight outta college kids would be in 6-figure range.

I dunno. Most industries don't pay that out of the gate for college grads.

Just speculating. If $800k living above garages is going to be more expensive by 2028, then the starting salary should have inclined more also, don't you think?

If you recall I already did this math from before. 

Majority of wages do not increase proportionately to real estate prices in certain areas.

Yes, exactly. Any idea how long has it been like that?

 

[Kings]

In 10 years, the starting salary for straight outta college kids would be in 6-figure range.

I dunno. Most industries don't pay that out of the gate for college grads.

Just speculating. If $800k living above garages is going to be more expensive by 2028, then the starting salary should have inclined more also, don't you think?

If you recall I already did this math from before. 

Majority of wages do not increase proportionately to real estate prices in certain areas.

Yes, exactly. Any idea how long has it been like that?

let me tell you, back in my day...
https://www.youtube.com/watch?v=xL-VX3WbA9U

 

[irvinehomeowner]

In 10 years, the starting salary for straight outta college kids would be in 6-figure range.

I dunno. Most industries don't pay that out of the gate for college grads.

Just speculating. If $800k living above garages is going to be more expensive by 2028, then the starting salary should have inclined more also, don't you think?

If you recall I already did this math from before. 

Majority of wages do not increase proportionately to real estate prices in certain areas.

Yes, exactly. Any idea how long has it been like that?

At least since the last boom in the late 90s. Once prices started to go back up... wages did not keep up. That's why people felt there was a bubble in 05/06 because wages couldn't support proper DTI ratios which was circumvented with ninja loans.... but now that prices are back to or beyond 05/06, how are loans getting approved now?

 

[Mety]

In 10 years, the starting salary for straight outta college kids would be in 6-figure range.

I dunno. Most industries don't pay that out of the gate for college grads.

Just speculating. If $800k living above garages is going to be more expensive by 2028, then the starting salary should have inclined more also, don't you think?

If you recall I already did this math from before. 

Majority of wages do not increase proportionately to real estate prices in certain areas.

Yes, exactly. Any idea how long has it been like that?

At least since the last boom in the late 90s. Once prices started to go back up... wages did not keep up. That's why people felt there was a bubble in 05/06 because wages couldn't support proper DTI ratios which was circumvented with ninja loans.... but now that prices are back to or beyond 05/06, how are loans getting approved now?

I think wages were keeping up until the prices started sky rocketing recently.
Getting loans was much easier in 2005, but even with more strict restrictions now, it's not "too hard" to get a loan now days either if you are really willing...

 

[eyephone]

It?s not about wages. It?s the momentum.