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Redfin Real Estate Forums :
Los Angeles :
Re: I don't get it - has the bubble been reinflated?
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Re: I don't get it - has the bubble been reinflated?
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endlessfall
Regular Contributor
Posts: 297
Registered: 12-02-2008
Message 11 of 22
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OP, What the hell are you smoking? That house is a true Mcmansion to many people. It's still under a million which is easily affordable by a mere small business owner. I know several small restaurant owners that own bigger houses than that. Price per sq. it's cheaper than the home I bought.
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10-27-2009 06:01 PM
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Re: I don't get it - has the bubble been reinflated?
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FTHB2009
Regular Visitor
Posts: 7
Registered: 08-19-2009
Message 12 of 22
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I have a friend who purchased a brand new home (in Simi) back in 2001. It is a 5bd/4ba, 4000 sq ft house, and was originally purchased for around $525K in 2001. In late 2006 or early 2007, I believe the value of this home skyrocketed to about $1.2 million. Now in 2009, I've seen the same floorplan listed for around $900K. Some people will say, "wow, the price has dropped $300K... what a bargain - the bubble has burst!" Others will say, "wow, it's still $375K overpriced - we're still in a bubble." I don't know if we're in a bubble or not... I just know that I work really hard, have been looking for six years, and still can't afford to buy a home, despite a stable job, good credit and a healthy downpayment. 
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10-27-2009 08:04 PM
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Re: I don't get it - has the bubble been reinflated?
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Noz
Regular Contributor
Posts: 432
Registered: 01-30-2009
Message 13 of 22
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I_hate_realtors wrote:
I don't get it... http://www.redfin.com/CA/Simi-Valley/1177-Wetherby-St-93065/home/4743832 Sold at the peak of the bubble (2007) for 817K, now they are asking 925K I don't get it... madness.... California needs to change it's laws to become a recourse state if people default.
Seriously....anyone who pays that much for a home in Simi Valley has L O S T T H E I R M I N D.
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10-28-2009 12:28 AM
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Re: I don't get it - has the bubble been reinflated?
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STARCHY
Regular Contributor
Posts: 487
Registered: 02-17-2009
Message 14 of 22
Viewed 367 times
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Noz wrote:
I_hate_realtors wrote:
I don't get it... http://www.redfin.com/CA/Simi-Valley/1177-Wetherby-St-93065/home/4743832 Sold at the peak of the bubble (2007) for 817K, now they are asking 925K I don't get it... madness.... California needs to change it's laws to become a recourse state if people default.
Seriously....anyone who pays that much for a home in Simi Valley has L O S T T H E I R M I N D.
Simi Valley (area) has some excellent golf courses
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10-28-2009 07:06 AM
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Re: I don't get it - has the bubble been reinflated?
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eHollywood
Contributor
Posts: 30
Registered: 06-11-2009
Message 17 of 22
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Aside from the price, I don't understand why anyone would want a house that huge... what on earth can you do with all that space unless you literally have a dozen kids? Why would you want to furnish, heat, cool, clean, deal with all that house? Isn't it much more relaxing to have a smaller house with less headaches and less expenses, that allows you to actually simplify and enjoy life? I'll never understand the "bigger is better" obsession.
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10-28-2009 10:38 AM
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Re: I don't get it - has the bubble been reinflated?
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Noz
Regular Contributor
Posts: 432
Registered: 01-30-2009
Message 18 of 22
Viewed 307 times
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eHollywood wrote:
Aside from the price, I don't understand why anyone would want a house that huge... what on earth can you do with all that space unless you literally have a dozen kids? Why would you want to furnish, heat, cool, clean, deal with all that house? Isn't it much more relaxing to have a smaller house with less headaches and less expenses, that allows you to actually simplify and enjoy life? I'll never understand the "bigger is better" obsession.
For the same stupid reasons why people sit in traffic for 2 hours a day in gigantic, ego boosting SUVs that get 15MPG or less. It's an extremely sad way of using the precious resources we have.
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10-28-2009 11:05 AM
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Re: I don't get it - has the bubble been reinflated?
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STARCHY
Regular Contributor
Posts: 487
Registered: 02-17-2009
Message 19 of 22
Viewed 270 times
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Noz wrote:
eHollywood wrote:
Aside from the price, I don't understand why anyone would want a house that huge... what on earth can you do with all that space unless you literally have a dozen kids? Why would you want to furnish, heat, cool, clean, deal with all that house? Isn't it much more relaxing to have a smaller house with less headaches and less expenses, that allows you to actually simplify and enjoy life? I'll never understand the "bigger is better" obsession.
For the same stupid reasons why people sit in traffic for 2 hours a day in gigantic, ego boosting SUVs that get 15MPG or less. It's an extremely sad way of using the precious resources we have.
I don't think its always ego (Hummers excluded of course) I think its two things: first off, we are a nation of big people, not just fat, BIG. Secondly, we have fallen into a trap of getting bigger and bigger cars because we feel it is safer- and we have to protect the children! All the innovations in the auto industry over the last 20 years has gone into making cars more powerful and as such mileage has stayed pretty much the same. Now if we had a tax on vehicles based on weight- you might see that change.
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10-28-2009 01:12 PM
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Re: I don't get it - has the bubble been reinflated?
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I_hate_realtors
Regular Contributor
Posts: 314
Registered: 06-18-2009
Message 20 of 22
Viewed 261 times
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eHollywood wrote:
Aside from the price, I don't understand why anyone would want a house that huge... what on earth can you do with all that space unless you literally have a dozen kids? Why would you want to furnish, heat, cool, clean, deal with all that house? Isn't it much more relaxing to have a smaller house with less headaches and less expenses, that allows you to actually simplify and enjoy life? I'll never understand the "bigger is better" obsession.
I think that attitude has shifted in the past 12 months and will continue to shift for the next 24-36 months. The 'green' movement is taking hold. Personally I am not giving up my dirtbikes nor my F350 to haul them around in...
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10-28-2009 01:51 PM
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