[turbo6bar]

Hehe, things are heating up here. Wayne, stick to your guns. Ameriquest mortgage isn't collapsing because the lending market and housing sales are great. Home builders are lowering earnings estimates, reporting increased cancelations, and offering larger buying incentives. Fixed rates mortgages are up >0.75% in the last 12 months. ARMS are up 1.0%+ over the last 12 months. New home inventory is at record high and growing. Existing home inventory is near record highs and growing. YoY median and average prices are heading from positive to negative territory in the bubbly areas. Anyone seen or heard a realtor predict healthy price gains for the remainder of 2006?

This time last year NONE of the above was true. This time last year, Californians believed RE would appreciate at 20% per year for the next 10 years. This time last year, David Lareah said housing was no longer a place to live, but a viable investment vehicle. This time last year, David Lareah said housing is the new gold standard.

The only problem, Wayne, is if you want to buy at or near the bottom, you will need to wait at least 2-5 years. When everyone is arguing that housing is a horrible investment, and one cannot ignore the spetacular gains in collectible 924s, you'll have the signal to buy. Can you minimize your wife's nesting instincts?