20% correction will leave many new "buyers" 15% underwater. Renting money to buy things is awesome. Leverage is awesome. I feel so rich, and nobody can take it away from me. Except the bank, or the sheriff.
7 replies (most recent on top)
It doesn't matter
Even with a 20% correction you whiners shit won't be able to afford to own. Price comes down , interest rate goes up, payment still the same....you still can't qualify to buy. Lol...
Prime areas coastal areas wont be impacted much as the buyer pool are altogether different
but the middle tier home price at below a million dollars would be impacted severely with time...
http://www.sandiegomagazine.com/San-Diego-Magazine/December-1997/When-Aerospace-was-King/
Anonymous120567. Exactly. I'll believe it when I stop seeing overseas people plopping down $2million cash for home purchased as if its just pocket change in rsf or del mar or LJ or del Mar mesa
Meanwhile home prices rose in June again
General dynamics left san diego in the 90's and it crippled the city ...property values tanked.