How much $$ do you think this blog has saved people?

NEW -> Contingent Buyer Assistance Program
Trooper_IHB

Trooper_IHB

New member
<p>In reading this blog for only 6 months, I've seen many a questioning "homebuyer" turn into a "happy renter". I think Zovall, IrvineRenter, Graphrix, et al, have served up some excellent cautionary (and rational) advice. For example, I was ready to jump for a place when I stumbled across this blog.... I'm grateful that I didn't. Not that long ago, I saw a 30K price reduction in my target area and thought, WOW....I should snap it up now ! But in waiting, so far it's gone done another 40K....and it's only just begun. </p>

<p>I do suffer from that syndrome of wanting a place of my own. Not for the write off (but it doesn't hurt), not for the status, but for the comfort and peace that comes with owning your own home. However, momma didn't raise no fool. I will be patient. And in coming to this blog every few days, I re-affirm my choice. Funny, for me, this is kind of like a 12 step program for future homebuyers. I imagine lots of us come here for a daily dose of re-assurance that waiting is the right thing to do. </p>

<p>So to all over you out there, THANKS FOR SAVING ME 70 GRAND ! </p>
 
I was going to say, "Hi, my name is Trooper....and I'm a houseaholic", but I didn't know if it would bomb or not. ; )
 
<p>So we're clean now, but <em>PLANNING</em> to back on the bottle someday...?</p>

<p>Don't tell that to anyone actually in a 12-step program.</p>

<p>SCHB</p>

<p> </p>
 
<p>That wasn't a criticizm. I think it was a good analogy...it just has a different ending than we're all used to.</p>

<p>I should have added a smiley for levity.</p>

<p>I think getting folks to "see the housing light" does have some good parallels to addiction recovery.</p>

<p>SCHB</p>
 
This blog has saved me from buying at Columbus Grove. I'm currently mortgage free and a happy renter for the next year. I probably saved 80k of depreciation over 2-5 years because I read this forum.





I'll see what May 2008 brings.
 
<p>arctichaze-</p>

<p>While I agree with your choice, it's probably better for everyone's credibility to contain this to $$ actually saved (using subsequent price declines as the benchmark), not just projected savings.</p>

<p>SCHB</p>
 
Hi, I'm awgee and I am an open house aholic. I will not be purchasing for a few years, blog or not, but I sure appreciate the support and education.<p>

Oh yeah, I have not stopped open housing, yet. But I plan to cut down a little at a time. Or maybe not.
 
<p>awgee-</p>

<p>Those 2 bedroom condos are the gateway residences.</p>

<p>Pretty soon you'll be stopping by million-dollar SFRs <em>with driveways</em>, "just to see what they are like." It all seems recreational at first.</p>

<p>SCHB</p>
 
<p>now that we're on the topic, at first I thought I was only a condoholic, but then realized that I was a full blown houseaholic. My friends knew, but didn't know how to tell me. It almost ruined my relationship....my job suffered.......then I hit rock bottom when the bubble hit it's peak.</p>

<p>Now that I've given up on the stuff, I've replaced it with research and blogging. My bank account thanks you.</p>
 
I left California about 6 years ago and I'm about to return. Me and my wife were originally planning on purchasing a home after we got back, but this blog and others (oc_fliptrack etc) really helped educate us about the California housing market. Without a doubt what we've learned both directly and indirectly from these blogs will save us tons.
 
In my introductory post, I wrote that I wanted to save people from buying now and becoming bagholders for the big drop. I am delighted to hear that what has been written on this blog has influenced people not to buy.
 
<p><em> "You probably saved our marriage (no lie). So, it's not only money you saved a lot of us - it's also peace, sanity, and some marriages".</em> </p>

<p>Wow...that's pretty powerful stuff. It kinda shows the impact that one, or a few people, can make on others lives. Even strangers.</p>
 
Thank you all for the positive feedback. I have always felt the real information has always been out there but just difficult to find. Now we have the ability to all come together and bring that information so that people can find it easily. There will be a day when we become bullish on RE again and it will be interesting to see then how much people have saved.
 
I somehow had it in my head that I would never spend a penny renting in my life (aside from college). But since I stumbled upon this blog last year, that mindset is slowly changing and I'm beginning to see the advantages of renting in this market.





Since everyone in my industry (real estate development) keeps saying that the bottom is near and prices will hold, I've had to step outside of my bubble and look at it from a consumer's point of view. The reality is that the decline has just begun and <strong>buying now</strong> does not put you any closer to owning your own as compared to renting. Also keep in mind that Irvine (and other parts of south OC) will keep building new homes for another decade (and longer) so that $600,000 detached condo in Portola Springs will no doubt be duplicated several times over.





I won't kid myself by thinking that I'll be able to time the market and buy at the rock-bottom of the decline but I sure as hell won't pay premium for a product that isn't rare, limited production or in high demand!
 
<p>"Since everyone in my industry (real estate development) keeps saying that the bottom is near and prices will hold"</p>

<p>Based on what!?</p>

<p>Be careful Raymond, misery enjoys company. Only property owners say that we are near a bottom and they would love for you to join their miserable lot.</p>

<p>There are excellent resources on this site - check the archives. One of my favorites is "Analysis of a Credit Bubble" which was posted in May, I believe.</p>
 
<em>"Since everyone in my industry (real estate development) keeps saying that the bottom is near and prices will hold"</em>





I also work with a lot of kool-aid drinkers.
 
We are close to a very prominent CEO in the industry and all he does is release propaganda to the tune of, "The end is in sight, it's time to prepare for another decade of double digit inflation!"





Everyone under him continues to spout to same crap hoping that it'll trickle down to the consumers and bring back fears of being priced out. From a business stand point I can understand why they do it and how much trouble we're in if people stop buying. Unfortunately, they don't give a crap if a family has to get a subprime loan in order to afford a mediocre starter home.





So yes, I have to tippy toe around conversations at times because I'm a closet bear surrounded by <em>professionals </em>in denial.
 
<p>CalGal,</p>

<p>I am seeing very few people jump in; which is opposite of what your husband said. I am just curious, what does your husband say now? Thank you. </p>

<p><strong><em>My husband kept saying that when everyone jumps in - we need to jump out</em></strong></p>

<strong>

<p> </p>

</strong>
 
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