The brighter side

I was thinking today that as long as I have a job, I kind of like this deep recession. More shopping deals. Longer time to accumulate on oversold equities. And more downward pressure on home pricing leading to more affordable housing. (Edit: yes I know the above comment is a bit short sighted..but humor me)

Speaking of housing, we've been looking, looking, looking(!) at bay area home prices. Right now, I am thinking 2010 could possibly be an OK time to purchase a home. The investment club at my work thinks 2011 is the ideal year to start looking. With all the "it's the end of the world!!!" headlines and overall uncertainty, I don't think there is a need to rush this year. For a long time I've asked myself and others what made bay area housing so high even after the dot come bubble burst. I am now in the camp that thinks bay area home prices did not dramatically fall after the dot com bubble due to all the "easy money" from the relaxed lending practices (sub prime, Alt-A <--> CDSs) coupled with stock options. But now lending practices are much tighter and stock options are largely a thing of the past for many people. I guess the wild cards are the unemployment #s from this housing bubble burst and how much cash is actually on the sidelines.

I just had a property manager come look at our house this morning and will be advertising soon. Hopefully we will find a good tenant to move in as soon as we leave.