irvinebullhousing
Well-known member
The California Court Company said:
Insane! Now I don't feel Irvine rental over price, at-all.
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Insane! Now I don't feel Irvine rental over price, at-all.
I didn't filter any data, but simply posted the most recent price-to-rent chart available. Thanks for pointing out the disclaimer, but the ratio has been on a historically high tangent since the start of the pandemic, not just for the past few months.
You are emotionally invested in Irvine home prices going up. As you know all too well, your emotions have led to bad financial decisions.
I'm one of the few people here trying to save you from making a huge financial mistake, or at least getting you to see all sides before making such a consequential decision. USCTrojanCPA and Compressed Village are all too happy to profit from others, so their opinions should be discounted by that fact.
You own property in the IE, so USC's "bet" to compare Irvine evictions to Riverside's should say something to you about his level of seriousness. On the other hand, I have no financial stake in Irvine prices or evictions going up or down.
I'm simply pointing out data that nobody else is because they are drunk on the euphoria of rapid home price appreciation.
What? You said there was supposed to be pain in Irvine.
Or is that next next time?
Another example of you dancing around your incorrect assessment of the direction of Irvine home prices.
Nah, this is about you refusing to admit you're wrong, ironically, given what you accused me of.
I'm not really emotionally invested in Irvine home prices going up. Like, at all. I'm planning to stay in this house for at least 30 years, so the fluctuation of price doesn't affect me.
As I've pointed out before, you "pointing out data that nobody else is" merely means that you cherry pick data points to fit your narrative. That's all there is to it. That is why no one takes your "data" seriously.
At some point, home prices will have a small decline but that will happen after prices have ran up 30-40% from pre-covid levels. The question is, will LL gloat and say "I told you so". I've made my predictions for 2022 and will repeat it....5-10% price appreciation with most all of the gains in the first half of the year and flattish in the second half of the year.
LL, you say that prices will decline in Irvine....when and by how much? I went out on a limb so you can too.
He can't tell you yet. Not until he has data points to cherry pick from. ;D
It must be nice to live in his own alternate reality where he's a saint and right all the time. ;D
Or more people will look to work at companies that offer a work from home option.
I respect your guys' opinions but this is a fast moving topic as well. The big companies up here want people back, and remote workers that moved out of the area i.e. true remote will see a rapid reversal of tolerance for the practice, and perhaps even be forced into renting apts near the office to satisfy corp reqs (worst case scenario that I've seen too many co-workers have to endure that tried to make remote work prior). Perhaps Twitter for those that absolutely must WFH:
https://deadline.com/2022/03/apple-google-twitter-set-return-to-work-policies-1234972162/
I personally have been mulling the move down south for over a year, and it would be hugely accretive to my retirement fund, however the broader my network grows and the more senior my role and those I interact with become lead me to 2 observations: 1) actual tangible visibility to exec mgt matters until you've reached the level you feel you have maxed out at; 2) it would be career suicide for me to go remote in terms of taking myself out of the local pool of talent, where RSUs can be dictated by location but also new opptys seem to appear out of thin air if you nurture your network.
Insane! Now I don't feel Irvine rental over price, at-all.
AccidentalAnalytics
Member
ROTFL
Compressed-Village said:
Liar Loan
Well-known member
AccidentalAnalytics said:
I didn't filter any data, but simply posted the most recent price-to-rent chart available. Thanks for pointing out the disclaimer, but the ratio has been on a historically high tangent since the start of the pandemic, not just for the past few months.
CalBears96 said:
You are emotionally invested in Irvine home prices going up. As you know all too well, your emotions have led to bad financial decisions.
I'm one of the few people here trying to save you from making a huge financial mistake, or at least getting you to see all sides before making such a consequential decision. USCTrojanCPA and Compressed Village are all too happy to profit from others, so their opinions should be discounted by that fact.
You own property in the IE, so USC's "bet" to compare Irvine evictions to Riverside's should say something to you about his level of seriousness. On the other hand, I have no financial stake in Irvine prices or evictions going up or down.
I'm simply pointing out data that nobody else is because they are drunk on the euphoria of rapid home price appreciation.
irvinehomeowner
Well-known member
Liar Loan said:
What? You said there was supposed to be pain in Irvine.
Or is that next next time?
irvinehomeowner
Well-known member
Liar Loan said:
Another example of you dancing around your incorrect assessment of the direction of Irvine home prices.
CalBears96
Well-known member
Liar Loan said:
Nah, this is about you refusing to admit you're wrong, ironically, given what you accused me of.
I'm not really emotionally invested in Irvine home prices going up. Like, at all. I'm planning to stay in this house for at least 30 years, so the fluctuation of price doesn't affect me.
As I've pointed out before, you "pointing out data that nobody else is" merely means that you cherry pick data points to fit your narrative. That's all there is to it. That is why no one takes your "data" seriously.
usctrojancpa
Well-known member
Obviously buyers are paying a payment % as prices have gone up and rates have gone up but they are still well below the 34.1% in the previous peak. Again, this is a national chart and doesn't really represent the average Irvine buyer who is putting 40% down on average (and 30-35% of all Irvine transactions are all cash).
irvinehomeowner
Well-known member
"Emotional investment in home prices" is such a fallacy.
To CalBears point, most people don't really think about home prices unless they are buying or selling... those already living in homes are more emotionally invested in mortgage rates and upgrade costs.
I actually haven't even looked too much since we last purchased which is why I was so surprised with these Portola Springs new home prices and the crazy resale thread about buyer's offers... I mean several people said in this thread that Irvine was headed for a drop.... is it really a drop if 3 years later prices are sky high? Did you have to buy on 3/5/20 at 4:33pm to get that super low price which was probably only a small percentage difference from 2018? I think anyone who bought in 2018 is just fine now.
To CalBears point, most people don't really think about home prices unless they are buying or selling... those already living in homes are more emotionally invested in mortgage rates and upgrade costs.
I actually haven't even looked too much since we last purchased which is why I was so surprised with these Portola Springs new home prices and the crazy resale thread about buyer's offers... I mean several people said in this thread that Irvine was headed for a drop.... is it really a drop if 3 years later prices are sky high? Did you have to buy on 3/5/20 at 4:33pm to get that super low price which was probably only a small percentage difference from 2018? I think anyone who bought in 2018 is just fine now.
usctrojancpa
Well-known member
irvinehomeowner said:
At some point, home prices will have a small decline but that will happen after prices have ran up 30-40% from pre-covid levels. The question is, will LL gloat and say "I told you so". I've made my predictions for 2022 and will repeat it....5-10% price appreciation with most all of the gains in the first half of the year and flattish in the second half of the year.
LL, you say that prices will decline in Irvine....when and by how much? I went out on a limb so you can too.
CalBears96
Well-known member
USCTrojanCPA said:LL, you say that prices will decline in Irvine....when and by how much? I went out on a limb so you can too.
He can't tell you yet. Not until he has data points to cherry pick from. ;D
irvinehomeowner
Well-known member
I just don't believe in trying to time the market for small declines (or even big ones for that matter)... with my standard caveats.
And that applies to any city you want to buy in... except Johns Creek... never buy there ever.
Where has Panda been anyways?
And that applies to any city you want to buy in... except Johns Creek... never buy there ever.
Where has Panda been anyways?
irvinebullhousing
Well-known member
LL self proclaim, he is a saint, that he is trying to SAVE people.
The only thing LL care about is being right. So for the past 3+ years, he was dead wrong.
Recessions, depressions, so what...I still need a home to live in, especially during crisis. People would want even more stability in a home during these time chaos. Of course, majority of the people if not all in Irvine are well equipt and well prepare for any hick up.
Data has been documented of buyers will be able to ride it out. The speculator, flipper, no doubt we will have some in this market, and it will surface soon enough and I will be able to tell if they are flipper and sharks will be all over it.
The only thing LL care about is being right. So for the past 3+ years, he was dead wrong.
Recessions, depressions, so what...I still need a home to live in, especially during crisis. People would want even more stability in a home during these time chaos. Of course, majority of the people if not all in Irvine are well equipt and well prepare for any hick up.
Data has been documented of buyers will be able to ride it out. The speculator, flipper, no doubt we will have some in this market, and it will surface soon enough and I will be able to tell if they are flipper and sharks will be all over it.
CalBears96
Well-known member
Compressed-Village said:
It must be nice to live in his own alternate reality where he's a saint and right all the time. ;D
The Motor Court Company
Well-known member
Higher gas, company returning to office, there could be a shift in demand; more people would want to move closer to work.
OCtoSV said:
usctrojancpa
Well-known member
The California Court Company said:
Or more people will look to work at companies that offer a work from home option.
USCTrojanCPA said:
I respect your guys' opinions but this is a fast moving topic as well. The big companies up here want people back, and remote workers that moved out of the area i.e. true remote will see a rapid reversal of tolerance for the practice, and perhaps even be forced into renting apts near the office to satisfy corp reqs (worst case scenario that I've seen too many co-workers have to endure that tried to make remote work prior). Perhaps Twitter for those that absolutely must WFH:
https://deadline.com/2022/03/apple-google-twitter-set-return-to-work-policies-1234972162/
I personally have been mulling the move down south for over a year, and it would be hugely accretive to my retirement fund, however the broader my network grows and the more senior my role and those I interact with become lead me to 2 observations: 1) actual tangible visibility to exec mgt matters until you've reached the level you feel you have maxed out at; 2) it would be career suicide for me to go remote in terms of taking myself out of the local pool of talent, where RSUs can be dictated by location but also new opptys seem to appear out of thin air if you nurture your network.
