Hey moron that posted about "Fire sale on San Diego McMansions".....

Learn how to read fvcking statistics you douchebag....

http://www.sdlookup.com/Closings-92130-Carmel_Valley

Look at listing price versus closing price. There is no firesale. "firesale" would be something like -25%+ off what seller is asking. Most properties sold at asking, some ABOVE ASKING.And that's when asking prices are already way above peak prices in 2006, roughly 8-12%. So in many cases people are paying aMORE than they were in 2006, despite the most stringent lending standards that what existed in 2006.

PPSF at peak in 2006 was about $400, Current PPSF is roughly $475, still well above peak.

Regarding inventory.

http://www.sdlookup.com/Market-92130-Carmel_Valley

There's 177 total homes being sold in 92130, 42 of them are attached condos, the rest are SFH.

Average sell price is 1.7million,

Again, what firesale???? Firesale would imply a huge pile of inventory. 177 total homes for an area that services 29,000 people. That's noise.

So, maybe the problem isn't so much other people with money are having a hard to buy an expensive home. Maybe the problem is that you are a low level low paid grunt engineer that cant AFFORD to own and that's why you rent.

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some qcom dominated communities will have panic selling for obvious reasons...it all depend on size of layoff and peoples fear level.

some qcom communities will have panic selling for obvious reasons...it all depend on size of layoff and peoples fear level.

The number of SF houses for sale right now is astonishing. I stand by my assertin. It appears that everybody is carmel valley is trying to sell their house al at once. Coincident? When Qualcomm catches a cold, Carmel Valley real estate get Bubonic Plague. More than half of the residents there have one or more family members who work for Qualcomm, which is one of the county's top-3 employers.

There might be a correction here and there, but qualcomm isn't going to be the catalyst by itself. If there's a drastic rate increase that goes up quickly, then maybe. But I think Yellen and the Fed aren't going to jack up rates quickly, they're going to trickle trickle trickle rates up, like they have been all this time. You perma-bears are just as bad as the perma-bull that think "house prices always goes up".... Short of sketchy lending and borrowing from people that can't make the payments, a "crash" isn't going to happen when the majority of the owners these days are either cash or have a signficant positive equity (which is required to get any sort of GSE loans these days).... Mortgage already are 1.5% higher than hitting rock bottom (3% for 30 year and 2.5% for 15) when people were predicting such an interest rate hike would signficantly cause a housing correction. It hasn't has it?

Mortgage already are 1.5% higher than hitting rock bottom (3% for 30 year and 2.5% for 15) when people were predicting such an interest rate hike would signficantly cause a housing correction. It hasn't has it?

wait for few months or a year

don't expect firesale but definitely a correction

if someone says this can never happen in sd, then they are drinking the coolaid..

Thread regarding Qualcomm Inc. layoffs

Hey moron that posted about "Fire sale on San Diego McMansions".....

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