42% hit in house values, my guess is that would be bad..

[Havasu Cig]

Hey I love my Pontoon, nothing wrong with a deck boat...

[framer1]

Chris, I completely agree with this post...I'm guessing we will see a drastic change at the lake over the next few years...blower motors will be less prevelant, 200k-500k boats will be fewer and hopefully insurance prices will drop too, they better or I'm buying a deck boat or worse... a V
I believe the boating industry is going to take a hit just like the real estate market. I remember years ago when all the big boats were owned by doctors than it was the dot-com guys. Now it's the construction bussiness with the high end boats, I think these things just goes in cycles. As for ins. that a whole other story. My ins. Co. just sent me a letter about renewing my ins. it pretty much says they are going to raise my rates. Here's the last line in the letter" We thank you for your business and look forward to considering your policy renewal" Gee thanks! No claims or tickets already pay 4849.00 I guess that not enough. A deckboat is sounding good

[77charger]

When we bought our house in 2000 the basic rule of thumb was that a house should be no more than 1.5-2 times your income.Now i see people who are buying homes 4 times the amount they make.
This creative finacing is what is going to kill the market when the real money is due(int only loans,adj rates,etc)I could get myself in hole real fast with equity take out alot go buy brand new boat,moho,sandrail and worry about payment later.Scary part is there is probably a lender who will give me the loan no problem.They will be far upside down a loan for 700k and a home worth say 350k.
For now i am happy with my house,12 year old 21ft boat,standard travel buggy,and budget toyhauler.I still have just as much fun as anyone else with more expensive toys and will do so for a long time knowing my house payment will reamin the same and able to afford it.

[al cole'holic]

Southland home sales strong, prices hit new peak
December 15, 2005
La Jolla,CA----Southern California home sales remained at near- record levels last month as prices continued their climb to new heights, the result of continued demand and the expectation that mortgage interest rates will continue to increase, a real estate information service reported.
A total of 27,637 new and resale homes were sold in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties last month. That was down 3.0 percent from 28,489 in October, and up 0.6 percent from 27,459 for November last year, according to DataQuick Information Systems.
A decline from October to November is normal for the season. The strongest November in DataQuick's statistics was in 1988 when 29,303 homes were sold. The slowest November was in 1991 when 13,537 homes were sold. So far this year 326,746 Southland homes have been sold, virtually unchanged from 326,880 for the first eleven months of last year.
"Potential buyers typically get off the fence when interest rates are on the rise, that may account for part of last month's high sales count. Additionally, more homes are on the market these days, giving buyers more choice than they had a few months ago," said Marshall Prentice, DataQuick president.
The median price paid for a Southern California home was $479,000 last month, a new record. That was up 1.3 percent from $473,000 in October, and up 15.4 percent from $415,000 for November 2004. Annual price increases have been in the mid teens since April.
DataQuick, a subsidiary of Vancouver-based MacDonald Dettwiler and Associates, monitors real estate activity nationwide and provides information to consumers, educational institutions, public agencies, lending institutions, title companies and industry analysts.
The typical monthly mortgage payment that Southland buyers committed themselves to paying was $2,238 last month, up from $2,169 for the previous month, and up from $1,830 for November a year ago. Adjusted for inflation, current payments are about the same as they were in the spring of 1989, at the peak of the prior real estate cycle.
Indicators of market distress are still largely absent. Foreclosure activity is edging up from its bottom, but is still low. Down payment sizes are stable, as are flipping rates and non-owner occupied buying activity , DataQuick reported.
....

[totenhosen]

A decline from October to November is normal for the season. The strongest November in DataQuick's statistics was in 1988 when 29,303 homes were sold. The slowest November was in 1991 when 13,537 homes were sold. So far this year 326,746 Southland homes have been sold, virtually unchanged from 326,880 for the first eleven months of last year. :
Little bit of a contradiction there, don't you think? Past few years there has been no real slow period.
"Potential buyers typically get off the fence when interest rates are on the rise, that may account for part of last month's high sales count. Additionally, more homes are on the market these days, giving buyers more choice than they had a few months ago," said Marshall Prentice, DataQuick president.
The typical monthly mortgage payment that Southland buyers committed themselves to paying was $2,238 last month, up from $2,169 for the previous month, and up from $1,830 for November a year ago. Adjusted for inflation, current payments are about the same as they were in the spring of 1989, at the peak of the prior real estate cycle.
....
I wonder if you even read what you posted? Really nothing to cheerlead about. I bolded an especially telling sign. Do you know what happened after that???

[al cole'holic]

...dumbass, I posted this latest article from DataQuick (the largest housing info source in the US) to show this argument is a double edge sword...btw, yes there has been a slow period each and every year, it's this time every year when you crackpots anxiously await the right time to buy, yet it never comes

[Froggystyle]

A deckboat is sounding good
I know someone you should call then...

[NorCal Gameshow]

regardless of what the market does short term, you have a payment...
either you can pay it or you can't...

[bigq]

regardless of what the market does short term, you have a payment...
either you can pay it or you can't...
That right there should be a quote in a sig line, lol.

[totenhosen]

...dumbass, I posted this latest article from DataQuick (the largest housing info source in the US) to show this argument is a double edge sword...btw, yes there has been a slow period each and every year, it's this time every year when you crackpots anxiously await the right time to buy, yet it never comes
Like the majority of dumbass realtors you can't actually comprehend a basic newspaper article. Again did you read the article and can you understand what they are saying??? Than again what do I expect from someone working in a field that if you have a college degree you are considered highly educated. I'll take my financial advice from real economists/analyst instead of the skewed info NAR and CAR puts out. Are you even able to form your own opinions or do you just repeat everything that is told to you by the NAR? DUH DUH DUH.
Have you ever even taken a finance or economics course before? Can you explain what a cap rate is and why investing in income properties in the LA area makes little to no sense right now?
Than again you must be all knowing since you have three years worth of R/E experience.