3/30 What's a good source to get historical data of VOLUME
and price of home sales? Something like Etrade data for real estate.
\_ Look. Here's the deal. The real estate market in CA is nearing
a top. If historical patterns hold, prices will decrease
somewhere about 30% over the course of a couple of years and
then stay flat for another 5 years or so. After about 7 years
they will be back to where they are now and eventually they
will surpass current prices. If you are buying a house as a
short-term investment then don't. If you need a place to live
and are renting then do it if you find a place you can
comfortably afford to keep for 7-10 years. Will saving 15-30%
on your house price be worth it to you to wait and see what
happens? I guess that depends on your situation.
\_ Yeah, but if housing prices go up again 20% this year, your
advice would be terrible.
\_ nah, that just means a harder landing in the future.
\_ No, it's not terrible in that case. The advice is to buy
a place if you can comfortably afford it. If you can't
now then you won't then either. However, it seems obvious
to everyone that the 20% annual appreciation is going to
take a breather. I don't think anyone is on that boat. |