North park flips… relatistic prices?

[jpinpb]

[quote=jstoesz]I have lost the train of logic in the last page or so…yes I have been lurking.

I would like to clear something up apart from the flipping debate, When people say housing in certain neighborhoods of SD are a good deal or affordable, I want to vomit. [/quote]

I throw up in my mouth often when I see some of the insane prices.

Thanks for coming out of lurking mode to post that link.

[pemeliza]

“artificially low interest rates”

There has been a bull market in the bond market for the last 20 years. As a saver do I like it? Absolutely not. Can we say for sure that the bull market in bonds over the last 20 years has been artificial? Perhaps it has to with currency manipulations and globalization who knows. You can drive yourself crazy trying to understand interest rates.

If the affordability of a house depends on “ultra low interest rates” and the market actually offers “ultra low interest rates” then I would say the house is affordable at least for today.

“So if you want to say homes are a good deal, or affordable or whatever, you have got to get out of the state and look around.”

This argument works both ways. Sure you can find cheaper places but there are plenty of places that offer less (IMHO) that are even more expensive. Have you even looked at prices on the east coast? I lived there for 5 years. All I can say is overrated. I lived in the midwest for 20 years. You want affordable there is your affordable. Really all things considered not a bad place to live if you are in to that kind of thing and have time to travel.

[pemeliza]

“artificially low interest rates”

There has been a bull market in the bond market for the last 20 years. As a saver do I like it? Absolutely not. Can we say for sure that the bull market in bonds over the last 20 years has been artificial? Perhaps it has to with currency manipulations and globalization who knows. You can drive yourself crazy trying to understand interest rates.

If the affordability of a house depends on “ultra low interest rates” and the market actually offers “ultra low interest rates” then I would say the house is affordable at least for today.

“So if you want to say homes are a good deal, or affordable or whatever, you have got to get out of the state and look around.”

This argument works both ways. Sure you can find cheaper places but there are plenty of places that offer less (IMHO) that are even more expensive. Have you even looked at prices on the east coast? I lived there for 5 years. All I can say is overrated. I lived in the midwest for 20 years. You want affordable there is your affordable. Really all things considered not a bad place to live if you are in to that kind of thing and have time to travel.

[pemeliza]

“artificially low interest rates”

There has been a bull market in the bond market for the last 20 years. As a saver do I like it? Absolutely not. Can we say for sure that the bull market in bonds over the last 20 years has been artificial? Perhaps it has to with currency manipulations and globalization who knows. You can drive yourself crazy trying to understand interest rates.

If the affordability of a house depends on “ultra low interest rates” and the market actually offers “ultra low interest rates” then I would say the house is affordable at least for today.

“So if you want to say homes are a good deal, or affordable or whatever, you have got to get out of the state and look around.”

This argument works both ways. Sure you can find cheaper places but there are plenty of places that offer less (IMHO) that are even more expensive. Have you even looked at prices on the east coast? I lived there for 5 years. All I can say is overrated. I lived in the midwest for 20 years. You want affordable there is your affordable. Really all things considered not a bad place to live if you are in to that kind of thing and have time to travel.

[pemeliza]

“artificially low interest rates”

There has been a bull market in the bond market for the last 20 years. As a saver do I like it? Absolutely not. Can we say for sure that the bull market in bonds over the last 20 years has been artificial? Perhaps it has to with currency manipulations and globalization who knows. You can drive yourself crazy trying to understand interest rates.

If the affordability of a house depends on “ultra low interest rates” and the market actually offers “ultra low interest rates” then I would say the house is affordable at least for today.

“So if you want to say homes are a good deal, or affordable or whatever, you have got to get out of the state and look around.”

This argument works both ways. Sure you can find cheaper places but there are plenty of places that offer less (IMHO) that are even more expensive. Have you even looked at prices on the east coast? I lived there for 5 years. All I can say is overrated. I lived in the midwest for 20 years. You want affordable there is your affordable. Really all things considered not a bad place to live if you are in to that kind of thing and have time to travel.

[pemeliza]

“artificially low interest rates”

There has been a bull market in the bond market for the last 20 years. As a saver do I like it? Absolutely not. Can we say for sure that the bull market in bonds over the last 20 years has been artificial? Perhaps it has to with currency manipulations and globalization who knows. You can drive yourself crazy trying to understand interest rates.

If the affordability of a house depends on “ultra low interest rates” and the market actually offers “ultra low interest rates” then I would say the house is affordable at least for today.

“So if you want to say homes are a good deal, or affordable or whatever, you have got to get out of the state and look around.”

This argument works both ways. Sure you can find cheaper places but there are plenty of places that offer less (IMHO) that are even more expensive. Have you even looked at prices on the east coast? I lived there for 5 years. All I can say is overrated. I lived in the midwest for 20 years. You want affordable there is your affordable. Really all things considered not a bad place to live if you are in to that kind of thing and have time to travel.

[jstoesz]

FTR, my main point had nothing to do with interest rates, and to be honest, I don’t really care about them. That was an unnecessary comment which was to encompass all the reasons for low mortgage rates…see fha, and the secondary mortgage market.

I take issue with the idea that a 1000 sq ft house, 10 miles from the ocean and in a bad school district is going to sell for over a half a million dollars. How can this ever be considered a “good deal.”

And yes the east coast is expensive, but far from the expense of SD in most cases. (old data, but still relevant)

http://www.bizjournals.com/specials/pages/160.html

As to your “affordable with the low interest rates” comment, yes that is true and not a problem as long as you never want to sell your home.

[jstoesz]

FTR, my main point had nothing to do with interest rates, and to be honest, I don’t really care about them. That was an unnecessary comment which was to encompass all the reasons for low mortgage rates…see fha, and the secondary mortgage market.

I take issue with the idea that a 1000 sq ft house, 10 miles from the ocean and in a bad school district is going to sell for over a half a million dollars. How can this ever be considered a “good deal.”

And yes the east coast is expensive, but far from the expense of SD in most cases. (old data, but still relevant)

http://www.bizjournals.com/specials/pages/160.html

As to your “affordable with the low interest rates” comment, yes that is true and not a problem as long as you never want to sell your home.

[jstoesz]

FTR, my main point had nothing to do with interest rates, and to be honest, I don’t really care about them. That was an unnecessary comment which was to encompass all the reasons for low mortgage rates…see fha, and the secondary mortgage market.

I take issue with the idea that a 1000 sq ft house, 10 miles from the ocean and in a bad school district is going to sell for over a half a million dollars. How can this ever be considered a “good deal.”

And yes the east coast is expensive, but far from the expense of SD in most cases. (old data, but still relevant)

http://www.bizjournals.com/specials/pages/160.html

As to your “affordable with the low interest rates” comment, yes that is true and not a problem as long as you never want to sell your home.

[jstoesz]

FTR, my main point had nothing to do with interest rates, and to be honest, I don’t really care about them. That was an unnecessary comment which was to encompass all the reasons for low mortgage rates…see fha, and the secondary mortgage market.

I take issue with the idea that a 1000 sq ft house, 10 miles from the ocean and in a bad school district is going to sell for over a half a million dollars. How can this ever be considered a “good deal.”

And yes the east coast is expensive, but far from the expense of SD in most cases. (old data, but still relevant)

http://www.bizjournals.com/specials/pages/160.html

As to your “affordable with the low interest rates” comment, yes that is true and not a problem as long as you never want to sell your home.

[jstoesz]

FTR, my main point had nothing to do with interest rates, and to be honest, I don’t really care about them. That was an unnecessary comment which was to encompass all the reasons for low mortgage rates…see fha, and the secondary mortgage market.

I take issue with the idea that a 1000 sq ft house, 10 miles from the ocean and in a bad school district is going to sell for over a half a million dollars. How can this ever be considered a “good deal.”

And yes the east coast is expensive, but far from the expense of SD in most cases. (old data, but still relevant)

http://www.bizjournals.com/specials/pages/160.html

As to your “affordable with the low interest rates” comment, yes that is true and not a problem as long as you never want to sell your home.

[outtamojo]

[quote

I take issue with the idea that a 1000 sq ft house, 10 miles from the ocean and in a bad school district is going to sell for over a half a million dollars. How can this ever be considered a “good deal.”

[/quote]

There is a thread for those – post ’em so we can see! http://piggington.com/wild_pricing_thread

[outtamojo]

[quote

I take issue with the idea that a 1000 sq ft house, 10 miles from the ocean and in a bad school district is going to sell for over a half a million dollars. How can this ever be considered a “good deal.”

[/quote]

There is a thread for those – post ’em so we can see! http://piggington.com/wild_pricing_thread

[outtamojo]

[quote

I take issue with the idea that a 1000 sq ft house, 10 miles from the ocean and in a bad school district is going to sell for over a half a million dollars. How can this ever be considered a “good deal.”

[/quote]

There is a thread for those – post ’em so we can see! http://piggington.com/wild_pricing_thread

[outtamojo]

[quote

I take issue with the idea that a 1000 sq ft house, 10 miles from the ocean and in a bad school district is going to sell for over a half a million dollars. How can this ever be considered a “good deal.”

[/quote]

There is a thread for those – post ’em so we can see! http://piggington.com/wild_pricing_thread

[Author]

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