That is a graph of the ratio of home prices to median income, so inflation is already taken into account.
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San Diego Real Estate recovery in 2024
- Thread starter traderdragon2
- Start date
If you count the top 15% as an irrational blow-off and dismiss it as speculators talking up the market and the dumbest of the dumb buy at those prices you could re-draw the line with a more realistic bubble up to today's prices and the coming falls starting today at the same rate as they did in the last crash, with the blue line running parallel to the one on your graph.
I make the bottom around 2018.
I make the bottom around 2018.
Here's a few of the listings at 475 Redwood that I've been keeping my eye on:
On 02/02/2008 unit 312 was listed for $549K, today it is still listed at the same price.
On 02/02/2008 unit 906 was listed for $1.049M, today it is still the same.
Unit 1106 has apparently been listed since 10/24/2007 at $1.149M, and is still listed the same.
On 2/11/08 unit 701 was listed at $389K, today it is down to $360K.
While googling I also found that a person who lives in this building and describes herself as a self-employed artist has donated $500 to the Hillary Clinton campaign, LOL.
On 02/02/2008 unit 312 was listed for $549K, today it is still listed at the same price.
On 02/02/2008 unit 906 was listed for $1.049M, today it is still the same.
Unit 1106 has apparently been listed since 10/24/2007 at $1.149M, and is still listed the same.
On 2/11/08 unit 701 was listed at $389K, today it is down to $360K.
While googling I also found that a person who lives in this building and describes herself as a self-employed artist has donated $500 to the Hillary Clinton campaign, LOL.
Quote from hughb:
Here's a few of the listings at 475 Redwood that I've been keeping my eye on:
On 02/02/2008 unit 312 was listed for $549K, today it is still listed at the same price.
On 02/02/2008 unit 906 was listed for $1.049M, today it is still the same.
Unit 1106 has apparently been listed since 10/24/2007 at $1.149M, and is still listed the same.
On 2/11/08 unit 701 was listed at $389K, today it is down to $360K.
While googling I also found that a person who lives in this building and describes herself as a self-employed artist has donated $500 to the Hillary Clinton campaign, LOL.
The fact that those properties linger on the market is a testimony to the spread between the bid and the ask. A seller can list at whatever the seller wants. It will sell if that chosen price is less than or equal to the true market price.
MLS listings DO NOT REPRESENT price discovery.
RT
There was a bank owned foreclosure at 4058 Randolph and the pics showed that it was trashed by the occupants before they left. I only noticed it a couple of weeks ago, but the listing says the sale is pending right now.
There was an article in the WSJ last week about people trashing their homes prior to be evicted by foreclosure. They are pouring paint on the carpets, punching holes in the walls and locking animals inside to crap all over the place. The article didn't mention that anyone had ever been prosecuted for it. It seems as though they could be tracked down and sued in civil court, but maybe it isn't worth it.
There was an article in the WSJ last week about people trashing their homes prior to be evicted by foreclosure. They are pouring paint on the carpets, punching holes in the walls and locking animals inside to crap all over the place. The article didn't mention that anyone had ever been prosecuted for it. It seems as though they could be tracked down and sued in civil court, but maybe it isn't worth it.
Here's a very interesting deal posted on Craig's List:
http://sandiego.craigslist.org/csd/rfs/618062808.html
The guy wants you to give him $20K and take over his mortgage payments. I wonder if a deal like that would fly with the mortgage company?
http://sandiego.craigslist.org/csd/rfs/618062808.html
The guy wants you to give him $20K and take over his mortgage payments. I wonder if a deal like that would fly with the mortgage company?
Quote from hughb:
There was a bank owned foreclosure at 4058 Randolph and the pics showed that it was trashed by the occupants before they left. I only noticed it a couple of weeks ago, but the listing says the sale is pending right now.
There was an article in the WSJ last week about people trashing their homes prior to be evicted by foreclosure. They are pouring paint on the carpets, punching holes in the walls and locking animals inside to crap all over the place. The article didn't mention that anyone had ever been prosecuted for it. It seems as though they could be tracked down and sued in civil court, but maybe it isn't worth it.
Seems perfectly legal to trash YOUR OWN home. Its yours until they foreclose.
Angry people destroy their home before bank takes it
http://online.wsj.com/article/SB120665586676569881.html?mod=hpp_us_pageone
Were still just getting started.
http://online.wsj.com/article/SB120665586676569881.html?mod=hpp_us_pageone
Were still just getting started.