irvinehomeowner
Well-known member
lnc said:
Thank you. That's my same thinking. If no one can say it's going to definitely be 20% across the board in 2 years, then is it really worth waiting?
Housing Analysis
- Thread starter eyephone
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Thank you. That's my same thinking. If no one can say it's going to definitely be 20% across the board in 2 years, then is it really worth waiting?
I would like it be that way.
2009-2012 in Riverside County (not city). 2012 was the last year in previous cycle when the price was still low and there was a LOT of competition. If you're investing near the tail end of the down cycle, look for older, smaller SFR's with leaky roof and termite damage to reduce competition.
For Riverside County, in better Northern areas like Corona and Eastvale, the price drop from peak to bottom was about 50% ($600K -> $300K). To the South, Lake Elsinore/Widomar/Murrieta/Temecula can be scary with 66% drop ($350K -> $150K).
Yes, and I those have done very well.
I moved to the US when I was still in elementary school. We lived in Anaheim and I gradated from Rio Vista Elementary. Back then I got off school before 3PM and was out by Santa Ana river fishing all the time. As a kid I thought all the trout and catfish was "native", years later I found out they were probably stocked upstream at Prado Dam or Santa Ana River Lakes and was released when they released water.
My parents were somewhat "free range" instead of "helicopter". They were both blue collar workers and I was simply told to 1) be home before midnight (or obtain permission ahead), 2) graduate, 3) get a job. I was pushing shopping carts at Diho supermarket in Artesia at age 16. At HS I never took AP classes, somehow I made it all the way to grad school because... that's where all the girls were (college). @_@
I am leaning towards 5% decrease at 2020.
But I wouldn?t buy now because I see a possible doomsday scenario of a US slowdown compounded by a China meltdown beyond 2020.
2020 is most likely too soon to tell.
Irvine?s cost to rent vs buy is also big enough that I just don?t see buying now (with a 5 year outlook) as a good financial decision or a quality of life improvement. If you have a budget of $4500 a month on housing, you can only afford to buy a house around 900k in Irvine. But you can rent a 1.5 mil mansion.
The only thing I would worry is rates going way up, dropping your future purchasing power. But you can solve that by renting the 900k home and save up.
I'll have an update to my thread about what I'm seeing tomorrow and yes there is a slowdown but not a melt down....I'll explain my in thread.
There are certain principles that I would not cross even if it makes me millions. Canabis is now legal but that's only because our gov see additional revenue that can be capture. Up until the recent law pass, it was illegal. I am not going on that train.
Cv: What othe companies or industries you won?t invest in?
Thank you. That's my same thinking. If no one can say it's going to definitely be 20% across the board in 2 years, then is it really worth waiting?
Perspective
Well-known member
I rarely make predictions, but here's one for the fortune tellers/seekers on this thread - Irvine housing prices will track inflation, plus 2-5 points over the course of the next decade and beyond.
Profound? No. But that's the point. Who cares? Buy a house you can reasonably afford and forget about its value.
Profound? No. But that's the point. Who cares? Buy a house you can reasonably afford and forget about its value.
irvinebullhousing
Well-known member
Paying 2018 price is likely in 2020, in addition it likely to cost you more. Why? The elephant in the room is rate hikes. So you will have even less buying power.
Alot of homes never loose values. Homeowners hold on to them 4evar.
Alot of homes never loose values. Homeowners hold on to them 4evar.
irvinebullhousing
Well-known member
Cares said:
I would like it be that way.
irvinebullhousing
Well-known member
Greed is one of the deadly sin my friend. I am a prudent investor but greed and over leverage is not in my blood.
My investments plan is at least 10 years or more. You have to think about the bad time first and how to safeguard and what are your options before even think about exit plan.
That was a joke on Amazon. It never will happen
My investments plan is at least 10 years or more. You have to think about the bad time first and how to safeguard and what are your options before even think about exit plan.
That was a joke on Amazon. It never will happen
momopi
Well-known member
eyephone said:
2009-2012 in Riverside County (not city). 2012 was the last year in previous cycle when the price was still low and there was a LOT of competition. If you're investing near the tail end of the down cycle, look for older, smaller SFR's with leaky roof and termite damage to reduce competition.
For Riverside County, in better Northern areas like Corona and Eastvale, the price drop from peak to bottom was about 50% ($600K -> $300K). To the South, Lake Elsinore/Widomar/Murrieta/Temecula can be scary with 66% drop ($350K -> $150K).
irvinebullhousing
Well-known member
eyephone said:
Yes, and I those have done very well.
irvinebullhousing
Well-known member
eyephone said:
momopi
Well-known member
Kenkoko said:
I moved to the US when I was still in elementary school. We lived in Anaheim and I gradated from Rio Vista Elementary. Back then I got off school before 3PM and was out by Santa Ana river fishing all the time. As a kid I thought all the trout and catfish was "native", years later I found out they were probably stocked upstream at Prado Dam or Santa Ana River Lakes and was released when they released water.
My parents were somewhat "free range" instead of "helicopter". They were both blue collar workers and I was simply told to 1) be home before midnight (or obtain permission ahead), 2) graduate, 3) get a job. I was pushing shopping carts at Diho supermarket in Artesia at age 16. At HS I never took AP classes, somehow I made it all the way to grad school because... that's where all the girls were (college). @_@
irvinebullhousing
Well-known member
See, there a happy ending to almost all circumstances....Don't worry be happy. Not Greedy
zubs said:
I am leaning towards 5% decrease at 2020.
But I wouldn?t buy now because I see a possible doomsday scenario of a US slowdown compounded by a China meltdown beyond 2020.
2020 is most likely too soon to tell.
Irvine?s cost to rent vs buy is also big enough that I just don?t see buying now (with a 5 year outlook) as a good financial decision or a quality of life improvement. If you have a budget of $4500 a month on housing, you can only afford to buy a house around 900k in Irvine. But you can rent a 1.5 mil mansion.
The only thing I would worry is rates going way up, dropping your future purchasing power. But you can solve that by renting the 900k home and save up.
usctrojancpa
Well-known member
eyephone said:
I'll have an update to my thread about what I'm seeing tomorrow and yes there is a slowdown but not a melt down....I'll explain my in thread.
irvinebullhousing
Well-known member
eyephone said:Compressed-Village said:
But if you bought amazon when BTB and I were chatting about it. You probably done the best.
I hope your on the Canabis stock train. (Ride the train, but be ready to jump off)
There are certain principles that I would not cross even if it makes me millions. Canabis is now legal but that's only because our gov see additional revenue that can be capture. Up until the recent law pass, it was illegal. I am not going on that train.
Compressed-Village said:eyephone said:Compressed-Village said:
But if you bought amazon when BTB and I were chatting about it. You probably done the best.
I hope your on the Canabis stock train. (Ride the train, but be ready to jump off)
There are certain principles that I would not cross even if it makes me millions. Canabis is now legal but that's only because our gov see additional revenue that can be capture. Up until the recent law pass, it was illegal. I am not going on that train.
Cv: What othe companies or industries you won?t invest in?
irvinehomeowner
Well-known member
Canabis is still illegal at the Fed level.
Even though many states have legalized it, doing business for them is difficult for them mainly due to electronic fund transactions (hence the popularity of cryptocurrency).
I would be cautious getting involved in anything canabis-related, I would say more but I don't have to, just go to YouTube.
Even though many states have legalized it, doing business for them is difficult for them mainly due to electronic fund transactions (hence the popularity of cryptocurrency).
I would be cautious getting involved in anything canabis-related, I would say more but I don't have to, just go to YouTube.