To buy or not to buy????

[meshugy]

[synthetik]

[EastSider]

[biliruben]

This is The Mother of all Housing Busts, so past data won't be a particularly good guide.

My guess is 2009 or 2010 before buying up, but that's based more a hope than anything else, because we are going to want more space by then, and my ARM adjusts in the spring of 2011.

But my plan is to watch San Diego. As soon as they see sustained YOY inflation-adjusted increases, I'll start looking.

We are 6 months to a year behind on the way down, and I'd guess it will be the same for the recovery.

Keep an eye on the graph over at Pigginton:

[biliruben]

Looking more closely at that graph it looks like about 6 years from zenith to nadir in the past. I can't wait that long. After 3, it will at least be a buyers market, allowing me to bargain successfully with the distressed, and most of the froth will be off the top of the beer, even if the prices continue to decline slightly for another few years.

[EastSider]

[mike2]

[deejayoh]

[mike2]

[deejayoh]

[biliruben]

[Jazen]

Just wanted to post this, scroll down to the part about housing starting to recover in 08, wishful thinking.
http://articles.moneycentral.msn.com/In ... rkets.aspx

[synthetik]

anyone who wouldn't touch a HELOC must not have too much faith in the future value of their home. Smart person they would be...

[EastSider]

Just wanted to take a moment to thanks the members of this forum. Looking back, I was pretty close to buying a home last year - but discussions on this forum (particularly this thread) changed my mind. I'm so glad that I didn't buy a home last year -- we are now happy renters.

[geon]

One more month and it will be three years since we sold our house (s) and have been renting "it" ever since. The builder who bought our house (s), and the one next door, has still not got around to building on the lots we sold him.

I must admit it's not easy staying in the old neighborhood, but the rent makes it bearable. Old hood has been going downhill for the past eight years.

We almost bought in Oct. 05 but luckily another buyer had a slightly higher bid, which I did not want to counter. I see houses being listed today, bought in that same time periood, for 20% more, not sure they will sell them, but.,....

Well, we will have a substantial down payment, if we even need to take out a mortgage.