Should I sell my house

NEW -> Contingent Buyer Assistance Program
<p>Troop,</p>

<p>Are you really a copper, or just a good sport?</p>

<p>I'm from back east - where they really do call them "state troopers".</p>
 
<p>To expound on the 3x thing a touch more... I fully recognize that it marginalizes me as a homebuyer. I have a live-below-my-means lifestyle. I sleep well at night knowing that I could lose my job tomorrow yet still be able to keep food in the fridge and the power on for over a year without going into debt and without touching my retirement funds.</p>

<p>I see no reason to shoot that financial security all to hell just so I can have a bigger house. If that means being stuck in a dumb little condo, so be it.</p>
 
<p>Yeah, I miss the east coast. Neighbors are like family. That's another reason why I don't like renting. Every time I get close to a neighbor here - they move. Or maybe it's a California thing - no one can sit still for more than 2 years around here. Back home you bought a place and basically stayed there your entire life practically - or at least in the same area. I knew my neighbor's kids since they were 2 years old. Now they are graduating high school. Even a family party wouldn't be the same if they weren't there - they truly were just like family. Oh, well. </p>
 
Eff....that's the approach I plan to take as well (around 3X), which is why I've been looking to P.S. Considering how well the I.E. is doing, I should be able to buy something nice there (P.S., Palm Desert, etc.) in about 2 yrs. And if I keep the CT place, I will then summer there and winter in the P.S. house upon retirement. That's the plan... for now at least.
 
<p>Trooper - </p>

<p>Palm Desert is actually very nice. Let me know if you find some good deals there (I would love a vacation home there!). "bars on windows included" makes me think of that movie, "boyz in the hood." :)</p>
 
Just to show the 3x number is not fiction from a historical context here is three SoCal cities with high attractiveness to asians in 2000:





Diamond Bar


median household income (2000): $68,871


median house/condo price (2000): $245,800


Ratio: 3.56





Irvine


median household income (2000): $72,057


median house/condo price (2000): $316,800


Ratio: 4.39





San Marino


median household income (2000): $117,267


median house/condo price (2000): $690,800


Ratio: 5.89





Beverly Hills however looks extremely rich in house prices / income in 2000.





Beverly Hills


median household income (2000): $70,945


median house/condo price (2000): $1,000,001


Ratio: 14.09
 
<p>bishie, I think the trendline for SoCal has been over 3x for 3-4 decades. I'd be interested in seeing the numbers from other MSA's. Where are you getting that data?</p>
 
<p>909 can hold its own, NIR. There are some <a target="_blank" href="http://www.seamountaininn.com/">interesting resorts</a> out that way. </p>

<p>Inre 50% DTI: Just because ya <strong>can</strong> doesn't mean you <strong>should</strong>. </p>
 
<p>Neat. My hometown went from 2.5x to 3x from 2000 to 2006.</p>

<p>The interesting thing is that their RE market is quite stagnant, even at this low price level. </p>
 
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