Comments on: Remember, it’s a wonderful life http://www.socalbubble.com/2008/07/remember-its-a-wonderful-life.html Southern California is Experiencing a Real Estate Bubble like never before Wed, 10 Mar 2010 19:44:54 -0700 http://wordpress.org/?v=2.8.6 hourly 1 By: Nick http://www.socalbubble.com/2008/07/remember-its-a-wonderful-life.html/comment-page-1#comment-63830 Nick Wed, 16 Jul 2008 21:24:47 +0000 http://www.socalbubble.com/2008/07/remember-its-a-wonderful-life.html#comment-63830 Nobody can say when the bottom will be, although there are several reasonable metrics to indicate when we're nearing the bottom. When the months of supply gets below 6 for 6 months or so, the rate of foreclosures is below that of foreclosure sales, and average prices drop below 3x annual income for areas, we'll be in the right ballpark. Also, a less precise measure will be when the talking heads are all negative on real estate, and nobody is calling the bottom any more. As for the OP, I do think it's important to stay positive, enjoy life when you can, and not get caught up dwelling on the unfortunate circumstances you cannot change. However, I also don't really see what's on the other side of this depression; it could be a very different country in 5-10 years, and I'm not going to try to convince myself that eventually everything will be back to "normal". America might need something other than reckless spending and government incompetence to clean up this mess, and I don't think our country has the ability to elect people who can do what's necessary to fix it. So it's also important to stay flexible, so you can react appropriately to whatever kind of country/world we find ourselves in when this crisis plays out. That's my opinion, anyway. Nobody can say when the bottom will be, although there are several reasonable metrics to indicate when we’re nearing the bottom. When the months of supply gets below 6 for 6 months or so, the rate of foreclosures is below that of foreclosure sales, and average prices drop below 3x annual income for areas, we’ll be in the right ballpark. Also, a less precise measure will be when the talking heads are all negative on real estate, and nobody is calling the bottom any more.

As for the OP, I do think it’s important to stay positive, enjoy life when you can, and not get caught up dwelling on the unfortunate circumstances you cannot change. However, I also don’t really see what’s on the other side of this depression; it could be a very different country in 5-10 years, and I’m not going to try to convince myself that eventually everything will be back to “normal”. America might need something other than reckless spending and government incompetence to clean up this mess, and I don’t think our country has the ability to elect people who can do what’s necessary to fix it. So it’s also important to stay flexible, so you can react appropriately to whatever kind of country/world we find ourselves in when this crisis plays out.

That’s my opinion, anyway.

]]> By: marcus http://www.socalbubble.com/2008/07/remember-its-a-wonderful-life.html/comment-page-1#comment-63816 marcus Wed, 16 Jul 2008 17:07:25 +0000 http://www.socalbubble.com/2008/07/remember-its-a-wonderful-life.html#comment-63816 so when is the bottom? 2010? when is a good time to consider jumping in? so when is the bottom? 2010? when is a good time to consider jumping in?

]]>