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[Anonymous]

[quote=sdrealtor]The younger generation can afford houses lots of places. But there have always been places that were too expensive for most to and this place is joining that list for many including those who passed up on the opportunity of a lifetime.

The answer is it doesnt bother us, we just understand that it would hurt many good hardworking people. You are just bitter, the “Fuck you I didnt get mine” mentality is strong.[/quote]

It does bother you. The idea that RE can and will go down bothers you a lot, very clear by your posts.

As usual you always make it about me. I don’t represent the younger generation who has no shot at ever owning a house in the present situation. Your “opportunity of a lifetime” line doesn’t apply to the vast majority of “hard working” folks who are screwed in this distorted market, they never had a chance.

[an]

[quote=deadzone]I don’t represent the younger generation who has no shot at ever owning a house in the present situation.[/quote]
Two Sr. Software Engineers with 3-5 years of experience can probably make $130-150k. That’s a combine income of $260-300k/year. They can easily qualify for $1m house. So, I don’t know what you’re talking about.

[sdrealtor]

[quote=deadzone][quote=sdrealtor]The younger generation can afford houses lots of places. But there have always been places that were too expensive for most to and this place is joining that list for many including those who passed up on the opportunity of a lifetime.

The answer is it doesnt bother us, we just understand that it would hurt many good hardworking people. You are just bitter, the “Fuck you I didnt get mine” mentality is strong.[/quote]

It does bother you. The idea that RE can and will go down bothers you a lot, very clear by your posts.

As usual you always make it about me. I don’t represent the younger generation who has no shot at ever owning a house in the present situation. Your “opportunity of a lifetime” line doesn’t apply to the vast majority of “hard working” folks who are screwed in this distorted market, they never had a chance.[/quote]

Uhhh no! If you follow where I actually report data and what is going on you will see my opinion is very balanced and I don’t take one side or the other. You were calling for a national crash because you can’t afford it here. Most of the country is not priced like this and in most places the younger generation who work hard and save can easily purchase a home. It’s sad that you won’t admit it’s all about you and your failures

[an]

[quote=sdrealtor]Uhhh no! If you follow where I actually report data and what is going on you will see my opinion is very balanced and I don’t take one side or the other. You were calling for a national crash because you can’t afford it here. Most of the country is not priced like this and in most places the younger generation who work hard and save can easily purchase a home. It’s sad that you won’t admit it’s all about you and your failures[/quote]
The irony is that, with remote work, it would allow for the young generation to be able to buy a home much more easily. So, if deadzone really cares about the younger generations, he would be screaming at the rooftop for more remote work. Imagine making San Francisco pay but live in Fresno. You can probably have the house paid off in 3-5 years.

[sdrealtor]

He only cares about himself and looks no further than the tip of his nose. Most of this country is well within the means of the younger generation. Not everyone gets a house in La Jolla. A significant downturn would hurt many in places that are nowhere near here but he dont care

[Coronita]

[quote=deadzone][quote=sdrealtor]The younger generation can afford houses lots of places. But there have always been places that were too expensive for most to and this place is joining that list for many including those who passed up on the opportunity of a lifetime.

The answer is it doesnt bother us, we just understand that it would hurt many good hardworking people. You are just bitter, the “Fuck you I didnt get mine” mentality is strong.[/quote]

It does bother you. The idea that RE can and will go down bothers you a lot, very clear by your posts.

As usual you always make it about me. I don’t represent the younger generation who has no shot at ever owning a house in the present situation. Your “opportunity of a lifetime” line doesn’t apply to the vast majority of “hard working” folks who are screwed in this distorted market, they never had a chance.[/quote]

Good morning DZ. Glad you conveniently dodged my question again (more on that later)..I’ll say it again. You are completely wrong and trying to deflect and gaslight what we are saying.

Neither sdr or me or AN care about any sort of RE price correction because frankly none of us have any plans to sell any real estate , we’re going to hold on indefinitely and pass it on to our kids. We cared enough about the appreciation only temporarily so we could do a cash-out refinanace to take equity out at 3% 30 year fixed, so we could easily beat that YOY for the next 30 years, not because we had to, but we could. (Some such as sdr and AN managed to pull off a below 3% 30 year fixed)…

I could write a check and pay this off anyday if I wanted to. Tenants pay for those cash refinances, even with the old rent prices..But now with higher new rent prices thanks to inflation, that’s even additional cashflow that we weren’t expecting. And that’s totally sweet.

There is no other benefit of appreciation unless one plans to sell and cash in. And none of us have any plans to sell, ever. We’re part of the problem why housing inventory is bad. Because with 30 year ridiculous low rates that we locked in, there’s no motivation to ever sell, ever…. inventory that will never appear on the market…ever…

Now back to my original question that you dodged, that I’ll ask again…about your extreme defensiveness when asked that you conveniently dodge..

[quote=coronita asking larry]
I’m merely pointing out your big axe grinding bias …from falling behind financially over the past 20+ years from trying to outsmart the system, but that it blew up in face, both sitting idle and not securing a primary residence for 20+years. And also for not materially participating in the stock market for the 20+ years..

You got overly defensive when I brought that up but didn’t refute it..Is it because I’m correct why you are so defensive about it?

1. for the past 20+years of working , do you have a 401k , 403,traditional IRA and/or Roth IRA you make regular contributions to in a tax advantaged way?

2. if you don’t make regular contributions to one of the above in (1), have you even bothered to open a 401k, 403b, traditional IRA, or Roth IRA at any point during the past 20+ years of you working?

If your answer is no (1) and (2) that’s certainly your personal choice. BUT certainly glad it wasn’t mine.
[/quote]

sdrealtor, an, and I have a bet going on if I’m right or not. We need to determine a winner. There’s one dollar at stake here, just like in Trading Places.

[Coronita]

[quote=an][quote=deadzone]I don’t represent the younger generation who has no shot at ever owning a house in the present situation.[/quote]
Two Sr. Software Engineers with 3-5 years of experience can probably make $130-150k. That’s a combine income of $260-300k/year. They can easily qualify for $1m house. So, I don’t know what you’re talking about.[/quote]

That was me when I was 30ies. Been there done that…And back then, the stock market wasn’t that great, unlike the gains that happened over the past few years….lol.

[sdrealtor]

Here you go. This house is not far from where i grew up. It’s basically demographically Carlsbad or Carmel Valley in another part of the country. Incredible schools, easy commute to job centers, great healthcare (neighborhood is full of doctors that teach at some of the best med schools in the country), Plenty of parks and open space. Farm stands everywhere and it’sa nice 45 minute drive to some of the nicest parts of the Jersey Shore (think La Jolla and Del Mar not where MTV Jersey Shore was filmed). Median HH income in the zip code is about $130k but quite a bit higher in this neighborhood. Many children buy in this neighborhood they grew up in if they stay in the area. There are plenty of nice affordable places

https://www.redfin.com/NJ/Cherry-Hill/1763-Larkspur-Rd-08003/home/36161311?600390594=copy_variant&231528114=control&1778901559=variant&utm_source=ios_share&utm_medium=share&utm_nooverride=1&utm_content=link&utm_campaign=share_sheet

[Coronita]

[quote=sdrealtor]Here you go. This house is not far from where i grew up. It’s basically demographically Carlsbad or Carmel Valley in another part of the country. Incredible schools, easy commute to job centers, great healthcare (neighborhood is full of doctors that teach at some of the best med schools in the country), Plenty of parks and open space. Farm stands everywhere and it’sa nice 45 minute drive to some of the nicest parts of the Jersey Shore (think La Jolla and Del Mar not where MTV Jersey Shore was filmed). Median HH income in the zip code is about $130k but quite a bit higher in this neighborhood. Many children buy in this neighborhood they grew up in if they stay in the area. There are plenty of nice affordable places

https://www.redfin.com/NJ/Cherry-Hill/1763-Larkspur-Rd-08003/home/36161311?600390594=copy_variant&231528114=control&1778901559=variant&utm_source=ios_share&utm_medium=share&utm_nooverride=1&utm_content=link&utm_campaign=share_sheet%5B/quote%5D

That’s a beautiful house. That begs the question.
If you’re a tech worker, would you rather live in that house and work remotely

…OR…

Live in this, and have to report to work.

https://www.redfin.com/CA/San-Diego/11187-Kelowna-Rd-92126/unit-75/home/6397715

I think if I was young, and didn’t have my roots here in CA, I’d get the f out of here….

[Coronita]

Meanwhile. Teslaman, backpeddles.

https://www.cnn.com/2022/06/06/economy/elon-musk-tesla-job-cuts/index.html

[quote]
That’s according to a tweet from its ever-mercurial CEO Elon Musk — an apparent contradiction to two emails he sent staff last week about planned job cuts and a hiring freeze, which pushed Tesla shares lower.
Last Thursday, according to a Reuters report, Elon Musk sent an email to staff saying the company would freeze hiring as part of a move to cut staff by 10% — explaining that he has a “super bad feeling” about the economy.
He sent a follow-up email, according to Musk-centered site Tesmanian, elaborating that the company would increase hourly headcount but reduce “salaried headcount by 10%, as we have become overstaffed in many areas,” adding that :this does not apply to anyone actually building cars, battery packs or installing solar.”
Then, on Saturday, Musk tweeted that the company’s “total headcount will increase, but salaried should be fairly flat.” Yet hours later, Musk said on Twitter that the Tesmanian story was “accurate.”
It’s not clear whether Musk equates a 10% salaried headcount cut with “fairly flat”: As has long been the case at Tesla, it did not respond to a request for formal comment on the reported emails.
Reuters’ report about the email last week sent Tesla (TSLA) shares down 9% on Friday, but on Monday, they were up 2.8% in early trading on Musk’s sort-of walk-back. Another factor affecting the stock: Musk also threatened Monday to walk away from his proposed purchase of Twitter. Tesla shares have been hurt by Musk’s interest in Twitter (TWTR) as some investors have worried it would distract him from running the electric automaker, or force him to sell more Tesla shares to raise cash.
[/quote]

[Anonymous]

[quote=an][quote=deadzone]I don’t represent the younger generation who has no shot at ever owning a house in the present situation.[/quote]
Two Sr. Software Engineers with 3-5 years of experience can probably make $130-150k. That’s a combine income of $260-300k/year. They can easily qualify for $1m house. So, I don’t know what you’re talking about.[/quote]

So you have to be software engineer, and be married to another software engineer, to afford a house? Okay got it. Sounds like the younger generation has nothing to worry about.

[sdrealtor]

[quote=deadzone][quote=an][quote=deadzone]I don’t represent the younger generation who has no shot at ever owning a house in the present situation.[/quote]
Two Sr. Software Engineers with 3-5 years of experience can probably make $130-150k. That’s a combine income of $260-300k/year. They can easily qualify for $1m house. So, I don’t know what you’re talking about.[/quote]

So you have to be software engineer, and be married to another software engineer, to afford a house? Okay got it. Sounds like the younger generation has nothing to worry about.[/quote]

There are very few tech workers around there. Everyone with a decent job can afford a nice home in a great community. Sorry but its expensive here and when given the opportunity of a lifetime one must capitalize or suffer the consequences

https://www.redfin.com/NJ/Cherry-Hill/17…

[sdrealtor]

[quote=Coronita][quote=sdrealtor]Here you go. This house is not far from where i grew up. It’s basically demographically Carlsbad or Carmel Valley in another part of the country. Incredible schools, easy commute to job centers, great healthcare (neighborhood is full of doctors that teach at some of the best med schools in the country), Plenty of parks and open space. Farm stands everywhere and it’sa nice 45 minute drive to some of the nicest parts of the Jersey Shore (think La Jolla and Del Mar not where MTV Jersey Shore was filmed). Median HH income in the zip code is about $130k but quite a bit higher in this neighborhood. Many children buy in this neighborhood they grew up in if they stay in the area. There are plenty of nice affordable places

https://www.redfin.com/NJ/Cherry-Hill/1763-Larkspur-Rd-08003/home/36161311?600390594=copy_variant&231528114=control&1778901559=variant&utm_source=ios_share&utm_medium=share&utm_nooverride=1&utm_content=link&utm_campaign=share_sheet%5B/quote%5D

That’s a beautiful house. That begs the question.
If you’re a tech worker, would you rather live in that house and work remotely

…OR…

Live in this, and have to report to work.

https://www.redfin.com/CA/San-Diego/11187-Kelowna-Rd-92126/unit-75/home/6397715

I think if I was young, and didn’t have my roots here in CA, I’d get the f out of here….[/quote]

Lots of nice places to live. When he was the Heavyweight World Champion Muhammed Ali lived about a mile from the that house. When he was the starting QB Of the Philadephia Eagles Randall Cunningham lived less than a 1/4 mile away. I think about 90% of the kids at the local high school go on to 4 year colleges and a very high percentage to Ivy League schools

[an]

[quote=deadzone][quote=an][quote=deadzone]I don’t represent the younger generation who has no shot at ever owning a house in the present situation.[/quote]
Two Sr. Software Engineers with 3-5 years of experience can probably make $130-150k. That’s a combine income of $260-300k/year. They can easily qualify for $1m house. So, I don’t know what you’re talking about.[/quote]

So you have to be software engineer, and be married to another software engineer, to afford a house? Okay got it. Sounds like the younger generation has nothing to worry about.[/quote]if you want to live in a million dollar house, of course! Not a house, a million dollar house. There are plenty of houses in this vast country that’s well less than a million dollar.

[flyer]

We here are all very fortunate that our kids have, or will have, great careers and help from their families wrt their desired (desired being the key word, as most would probably not want to live in the less expensive alternate options) housing, but this article highlights the affordability issue facing many in America. As expected, San Diego is on one of the charts.

https://nypost.com/2022/03/17/61-of-renters-in-the-us-cant-afford-to-buy-a-home-in-their-city/

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