 WOT: buying a new 901, real estate in San Diego - buy or rent? |
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| siverson |
 Aug 8 2004, 02:57 PM
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Advanced Member  Group: Benefactors Posts: 2,448 Joined: 5-May 03 From: San Diego, CA Member No.: 654 Region Association: Southern California 
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Way, way, off topic, but I'm about to make a pretty big decision (for me), and I'll always listen to free advice (may not follow it though... (IMG:style_emoticons/default/smile.gif) ). Anyways, I'm about to buy condo #901 (<-- only 914 tie in in this entire thread!) in a building in downtown San Diego.
It's expensive. I can afford the payments on a 30y fixed and have 20% down, but I'd hate to see my 20% down payment go poof if the real estate market crashes. And we're due for a crash - it's been gaining 20%+ PER YEAR for the past several years. What's your crystal ball say? Buy now, or continue to rent and then buy when it all comes crashing down? -Steve |
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| J P Stein |
Aug 8 2004, 03:41 PM
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Irrelevant old fart Group: Members Posts: 8,797 Joined: 30-December 02 From: Vancouver, WA Member No.: 45 Region Association: None |
You do need a roof over your head.
I've been seeing predictions of a real estate crash for about 5-10 years. They seem to forget the above.....tho "they" will be right eventually. If you're looking at housing as an investment with 10% per annum growth, I think you should look elsewhere.....but it will keep up with inflation for the forseeable future (long term). Since you've only locked up 20% of the value of your house using your money, 3% growth of the total looks pretty good....and you have a place for your "stuff". The comming crunch (IMO) is energy. Buy a place close to where you work and hope for the best. |
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Posts in this topic
siverson WOT: buying a new 901 Aug 8 2004, 02:57 PM
Part Pricer I was reading an interesting article the other day... Aug 8 2004, 03:17 PM bernbomb914 It doesnt make any differance what the market does... Aug 8 2004, 03:34 PM vortrex back in the real estate and dot com boom of the ba... Aug 8 2004, 03:53 PM vortrex also, look at it this way. even if there are no g... Aug 8 2004, 03:56 PM siverson > They are predicting that when bottom falls out o... Aug 8 2004, 09:12 PM vortrex <... Aug 8 2004, 09:15 PM
Lou W I'm in mortgage lending, I think Bernie's ... Aug 9 2004, 01:31 AM |
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