I live in SOCAL and the housing market is crazy unaffordable. Do you guys think it will cool off or what? Crash or soft landing? I predict that the market won't crash. Maybe a small correction followed by a period of no growth over the next 5 years.

Also, is it smart to buy now?

What's your thought?

 

Home sales are down a little over 25% for the same period last year in California. If this continues, then prices will drop some.

http://news.yahoo.com/s/ap/home_sales

http://news.yahoo.com/s/nm/20060815/...ousing_nahb_dc

http://news.yahoo.com/s/nm/20060815/...onomy_homes_dc

 

Here in DC the rise is slowing, after almost 10 years of solid growth. Still upward bound, just not as fast... Personally, I hope the bottom drops out, in about 6-9 months. I hope to be ready to attemopt to purchase a small 4/6/8 unit apartment building to live in, at that time... I fugure me + 3/5/7 OTHER people paying my mortgage will be much better than just ME alone... Plus, if I keep my currently sub-, but soon to be above 6-figure salary, MODS!!! MODS GALORE!!!

 

Do you currently own a place? Are you going to sell that to get the apartment?

 

nah, I wish, currently renting...

doing a lot of research and info mining, at the moment. NLT next summer, inshallah!

 

inshallah... havent heard that for a while..

Best of luck to you Jazz!

 

Larf.

we are looking to buy a place in the next 18 months.

So far we are thinking of getting a place on Orcas or bainbridge islands.

 

Wouldn't having a place on Orcas not be too good for your detailing biz? That is ferry access only, isn't it?

 

The house would be listed as primary residence, but we would keep a place in town here. and head there on the weekends.

 

i still think you should just try and buy the house your in.. that way i dont have to get lost trying to find your place again