Are the Flippers Laying In Wait?

[CA renter]

[quote=Russell]CAR, Didn’t you sell your house because you speculated that it would benefit you in the long run? You bought it for less than you sold it for and got rid of it for financial gain (protection against reversal in your equity position) …or in other words, flipped it?[/quote]

I wasn’t intentionally trying to time the market. We had a growing family and needed more room (former house was under 1,300 sf), and wanted to move to a safer neighborhood closer to work. We had originally made an offer on another house, but backed out because of some issues during the inspection, and I wasn’t comfortable with market prices. This was at the peak of craziness (spring 2004), and we sold our house within an hour of listing it, so needed to find a place to live. I knew prices were too high, and thought so since 2001. I also saw how people were taking on far more debt than they could ever pay off, and had a number of people tell me about their “great new mortgages” where they only had to pay 1.5% per month! That was obviously not going to end well (and yes, I told them so), so we rented and waited.

Even over this past year, I was perfectly able to engage in all the flipping, as I follow the market closely and could see where things were going, but refrained from doing so because I don’t believe in it on an ethical level. I have looked into bulk sales, but mostly because I just want the inventory to come onto the market. It’s frustrating to see the amount of manipulation going on because so many people are going to be harmed by it, IMHO.

[NotCranky]

I see, I do recall now that you mention it, that you solicited the group about joining up to make bulk purchases.

Submitted by CA renter on March 20, 2009 – 4:46pm.
Totally understand where you are coming from, SDR. It would be nice if we all could get an extra 12 hours a day to do this.
—————

BTW, for anyone interested in bulk purchases, while I think it’s a good idea for us bubble-sitters to get into an investment pool, the poster above just registered today, so I would be very careful about e-mailing him/her without further research.

————————

While we’re on the topic, anyone here interested in a bulk buying pool? Davelj, that might be directed at you, too! 🙂

BTW,Despite my esoteric diatribes, I do not have the Big Picture answers either. Maybe we really, as a species, are not sophisticated enough to have the answers, or put them into place. Maybe there are no answers and we only think there are. Probably we are something like a cross between a monkey and an ant.

[NotCranky]

I see, I do recall now that you mention it, that you solicited the group about joining up to make bulk purchases.

Submitted by CA renter on March 20, 2009 – 4:46pm.
Totally understand where you are coming from, SDR. It would be nice if we all could get an extra 12 hours a day to do this.
—————

BTW, for anyone interested in bulk purchases, while I think it’s a good idea for us bubble-sitters to get into an investment pool, the poster above just registered today, so I would be very careful about e-mailing him/her without further research.

————————

While we’re on the topic, anyone here interested in a bulk buying pool? Davelj, that might be directed at you, too! 🙂

BTW,Despite my esoteric diatribes, I do not have the Big Picture answers either. Maybe we really, as a species, are not sophisticated enough to have the answers, or put them into place. Maybe there are no answers and we only think there are. Probably we are something like a cross between a monkey and an ant.

[NotCranky]

I see, I do recall now that you mention it, that you solicited the group about joining up to make bulk purchases.

Submitted by CA renter on March 20, 2009 – 4:46pm.
Totally understand where you are coming from, SDR. It would be nice if we all could get an extra 12 hours a day to do this.
—————

BTW, for anyone interested in bulk purchases, while I think it’s a good idea for us bubble-sitters to get into an investment pool, the poster above just registered today, so I would be very careful about e-mailing him/her without further research.

————————

While we’re on the topic, anyone here interested in a bulk buying pool? Davelj, that might be directed at you, too! 🙂

BTW,Despite my esoteric diatribes, I do not have the Big Picture answers either. Maybe we really, as a species, are not sophisticated enough to have the answers, or put them into place. Maybe there are no answers and we only think there are. Probably we are something like a cross between a monkey and an ant.

[NotCranky]

I see, I do recall now that you mention it, that you solicited the group about joining up to make bulk purchases.

Submitted by CA renter on March 20, 2009 – 4:46pm.
Totally understand where you are coming from, SDR. It would be nice if we all could get an extra 12 hours a day to do this.
—————

BTW, for anyone interested in bulk purchases, while I think it’s a good idea for us bubble-sitters to get into an investment pool, the poster above just registered today, so I would be very careful about e-mailing him/her without further research.

————————

While we’re on the topic, anyone here interested in a bulk buying pool? Davelj, that might be directed at you, too! 🙂

BTW,Despite my esoteric diatribes, I do not have the Big Picture answers either. Maybe we really, as a species, are not sophisticated enough to have the answers, or put them into place. Maybe there are no answers and we only think there are. Probably we are something like a cross between a monkey and an ant.

[NotCranky]

I see, I do recall now that you mention it, that you solicited the group about joining up to make bulk purchases.

Submitted by CA renter on March 20, 2009 – 4:46pm.
Totally understand where you are coming from, SDR. It would be nice if we all could get an extra 12 hours a day to do this.
—————

BTW, for anyone interested in bulk purchases, while I think it’s a good idea for us bubble-sitters to get into an investment pool, the poster above just registered today, so I would be very careful about e-mailing him/her without further research.

————————

While we’re on the topic, anyone here interested in a bulk buying pool? Davelj, that might be directed at you, too! 🙂

BTW,Despite my esoteric diatribes, I do not have the Big Picture answers either. Maybe we really, as a species, are not sophisticated enough to have the answers, or put them into place. Maybe there are no answers and we only think there are. Probably we are something like a cross between a monkey and an ant.

[NotCranky]

I just posted that stuff to make a case for my own confusion about your “ethical” position on real estate speculation. The microsoft thing was another. You also claim to dislike the most constructive applications of socialism in real estate, namely assisting the working poor into ownership.

Like Adam says, there is a lot to be frustrated about. The manipulations at socializing the losses for the sake of banks makes it harder on the honest, hard working, small scale entrepreneur as well the would be “owner occupied” buyer. This will pass though.

I think you raise a good question on prop 13. While I don’t want it to change ,it does seem fair/reasonable when it applies to aging homeowners but perhaps it is an unwarranted tax break to rental unit owners.

[NotCranky]

I just posted that stuff to make a case for my own confusion about your “ethical” position on real estate speculation. The microsoft thing was another. You also claim to dislike the most constructive applications of socialism in real estate, namely assisting the working poor into ownership.

Like Adam says, there is a lot to be frustrated about. The manipulations at socializing the losses for the sake of banks makes it harder on the honest, hard working, small scale entrepreneur as well the would be “owner occupied” buyer. This will pass though.

I think you raise a good question on prop 13. While I don’t want it to change ,it does seem fair/reasonable when it applies to aging homeowners but perhaps it is an unwarranted tax break to rental unit owners.

[NotCranky]

I just posted that stuff to make a case for my own confusion about your “ethical” position on real estate speculation. The microsoft thing was another. You also claim to dislike the most constructive applications of socialism in real estate, namely assisting the working poor into ownership.

Like Adam says, there is a lot to be frustrated about. The manipulations at socializing the losses for the sake of banks makes it harder on the honest, hard working, small scale entrepreneur as well the would be “owner occupied” buyer. This will pass though.

I think you raise a good question on prop 13. While I don’t want it to change ,it does seem fair/reasonable when it applies to aging homeowners but perhaps it is an unwarranted tax break to rental unit owners.

[NotCranky]

I just posted that stuff to make a case for my own confusion about your “ethical” position on real estate speculation. The microsoft thing was another. You also claim to dislike the most constructive applications of socialism in real estate, namely assisting the working poor into ownership.

Like Adam says, there is a lot to be frustrated about. The manipulations at socializing the losses for the sake of banks makes it harder on the honest, hard working, small scale entrepreneur as well the would be “owner occupied” buyer. This will pass though.

I think you raise a good question on prop 13. While I don’t want it to change ,it does seem fair/reasonable when it applies to aging homeowners but perhaps it is an unwarranted tax break to rental unit owners.

[NotCranky]

I just posted that stuff to make a case for my own confusion about your “ethical” position on real estate speculation. The microsoft thing was another. You also claim to dislike the most constructive applications of socialism in real estate, namely assisting the working poor into ownership.

Like Adam says, there is a lot to be frustrated about. The manipulations at socializing the losses for the sake of banks makes it harder on the honest, hard working, small scale entrepreneur as well the would be “owner occupied” buyer. This will pass though.

I think you raise a good question on prop 13. While I don’t want it to change ,it does seem fair/reasonable when it applies to aging homeowners but perhaps it is an unwarranted tax break to rental unit owners.

[CA renter]

[quote=Russell]I just posted that stuff to make a case for my own confusion about your “ethical” position on real estate speculation. The microsoft thing was another. You also claim to dislike the most constructive applications of socialism in real estate, namely assisting the working poor into ownership.

Like Adam says, there is a lot to be frustrated about. The manipulations at socializing the losses for the sake of banks makes it harder on the honest, hard working, small scale entrepreneur as well the would be “owner occupied” buyer. This will pass though.

I think you raise a good question on prop 13. While I don’t want it to change ,it does seem fair/reasonable when it applies to aging homeowners but perhaps it is an unwarranted tax break to rental unit owners.[/quote]

What I’m theoretically proposing would **help** the working poor own their own homes by eliminating many of the distortions caused by wealthy entities hoarding finite and highly desirable land. I think, theoretically speaking, there should be a cap on the amount of land that is controlled or owned by one entity/person. I do NOT generally believe in government subsidies for housing, because I believe affordability comes in the form of lower prices, not gimmicky rates/mortgages, or govt subsidies.

Yes, I am absolutely in favor of Prop 13 protection on a single primary residence only, with possible exemptions as noted above for multi-family and SFH rentals that comply with rent control laws — so the benefit filters down to the low-income tenant instead of a landlord’s profit.

[CA renter]

[quote=Russell]I just posted that stuff to make a case for my own confusion about your “ethical” position on real estate speculation. The microsoft thing was another. You also claim to dislike the most constructive applications of socialism in real estate, namely assisting the working poor into ownership.

Like Adam says, there is a lot to be frustrated about. The manipulations at socializing the losses for the sake of banks makes it harder on the honest, hard working, small scale entrepreneur as well the would be “owner occupied” buyer. This will pass though.

I think you raise a good question on prop 13. While I don’t want it to change ,it does seem fair/reasonable when it applies to aging homeowners but perhaps it is an unwarranted tax break to rental unit owners.[/quote]

What I’m theoretically proposing would **help** the working poor own their own homes by eliminating many of the distortions caused by wealthy entities hoarding finite and highly desirable land. I think, theoretically speaking, there should be a cap on the amount of land that is controlled or owned by one entity/person. I do NOT generally believe in government subsidies for housing, because I believe affordability comes in the form of lower prices, not gimmicky rates/mortgages, or govt subsidies.

Yes, I am absolutely in favor of Prop 13 protection on a single primary residence only, with possible exemptions as noted above for multi-family and SFH rentals that comply with rent control laws — so the benefit filters down to the low-income tenant instead of a landlord’s profit.

[CA renter]

[quote=Russell]I just posted that stuff to make a case for my own confusion about your “ethical” position on real estate speculation. The microsoft thing was another. You also claim to dislike the most constructive applications of socialism in real estate, namely assisting the working poor into ownership.

Like Adam says, there is a lot to be frustrated about. The manipulations at socializing the losses for the sake of banks makes it harder on the honest, hard working, small scale entrepreneur as well the would be “owner occupied” buyer. This will pass though.

I think you raise a good question on prop 13. While I don’t want it to change ,it does seem fair/reasonable when it applies to aging homeowners but perhaps it is an unwarranted tax break to rental unit owners.[/quote]

What I’m theoretically proposing would **help** the working poor own their own homes by eliminating many of the distortions caused by wealthy entities hoarding finite and highly desirable land. I think, theoretically speaking, there should be a cap on the amount of land that is controlled or owned by one entity/person. I do NOT generally believe in government subsidies for housing, because I believe affordability comes in the form of lower prices, not gimmicky rates/mortgages, or govt subsidies.

Yes, I am absolutely in favor of Prop 13 protection on a single primary residence only, with possible exemptions as noted above for multi-family and SFH rentals that comply with rent control laws — so the benefit filters down to the low-income tenant instead of a landlord’s profit.

[CA renter]

[quote=Russell]I just posted that stuff to make a case for my own confusion about your “ethical” position on real estate speculation. The microsoft thing was another. You also claim to dislike the most constructive applications of socialism in real estate, namely assisting the working poor into ownership.

Like Adam says, there is a lot to be frustrated about. The manipulations at socializing the losses for the sake of banks makes it harder on the honest, hard working, small scale entrepreneur as well the would be “owner occupied” buyer. This will pass though.

I think you raise a good question on prop 13. While I don’t want it to change ,it does seem fair/reasonable when it applies to aging homeowners but perhaps it is an unwarranted tax break to rental unit owners.[/quote]

What I’m theoretically proposing would **help** the working poor own their own homes by eliminating many of the distortions caused by wealthy entities hoarding finite and highly desirable land. I think, theoretically speaking, there should be a cap on the amount of land that is controlled or owned by one entity/person. I do NOT generally believe in government subsidies for housing, because I believe affordability comes in the form of lower prices, not gimmicky rates/mortgages, or govt subsidies.

Yes, I am absolutely in favor of Prop 13 protection on a single primary residence only, with possible exemptions as noted above for multi-family and SFH rentals that comply with rent control laws — so the benefit filters down to the low-income tenant instead of a landlord’s profit.

[Author]

Posts