North park flips… relatistic prices?

[jstoesz]

BTW, I have thoroughly enjoyed this debate.

It is always good to get the arguments out, and find the deficiencies. Now if only logic could solve this problem. Although, sometimes shouting at the incoming tide feels good.

[pemeliza]

“Can you really advocate raising kids in this state. How can a wife stay home with the kids, and still be able to pay the mortgage. How can a family live in a good school district, have a yard, and afford to eat? You can’t unless you are in the top 3%”

Ultimately you have to prioritize. When the bubble took off back in 2004, I got the heck out of dodge and moved to Chapel Hill, North Carolina. Those little college towns are awesome places to raise a family if you can find decent work. Another problem with moving is family. Is you family in SD? If not, that makes a move easier. If what SD has to offer isn’t worth the $$$ for you and your family then yes I would try something else. We did and had the bubble not imploded we probably would have stayed in NC even though most of our family lives in SD.

We ended buying a stock condition place in mission hills about half the size of the turnkey mansion we had in Chapel Hill but it has plenty of outdoor space. That was my big priority. I wanted to be outside year round in an area where I would not be swarmed by the attack of the mosquitos. Well and I also appreciate the ocean breezes. Sometimes in North Carolina when the heat index is pushing 105 degrees you go outside and the lack of a breeze is so intense it feels like you are in a super-heated vacuum.

[pemeliza]

“Can you really advocate raising kids in this state. How can a wife stay home with the kids, and still be able to pay the mortgage. How can a family live in a good school district, have a yard, and afford to eat? You can’t unless you are in the top 3%”

Ultimately you have to prioritize. When the bubble took off back in 2004, I got the heck out of dodge and moved to Chapel Hill, North Carolina. Those little college towns are awesome places to raise a family if you can find decent work. Another problem with moving is family. Is you family in SD? If not, that makes a move easier. If what SD has to offer isn’t worth the $$$ for you and your family then yes I would try something else. We did and had the bubble not imploded we probably would have stayed in NC even though most of our family lives in SD.

We ended buying a stock condition place in mission hills about half the size of the turnkey mansion we had in Chapel Hill but it has plenty of outdoor space. That was my big priority. I wanted to be outside year round in an area where I would not be swarmed by the attack of the mosquitos. Well and I also appreciate the ocean breezes. Sometimes in North Carolina when the heat index is pushing 105 degrees you go outside and the lack of a breeze is so intense it feels like you are in a super-heated vacuum.

[pemeliza]

“Can you really advocate raising kids in this state. How can a wife stay home with the kids, and still be able to pay the mortgage. How can a family live in a good school district, have a yard, and afford to eat? You can’t unless you are in the top 3%”

Ultimately you have to prioritize. When the bubble took off back in 2004, I got the heck out of dodge and moved to Chapel Hill, North Carolina. Those little college towns are awesome places to raise a family if you can find decent work. Another problem with moving is family. Is you family in SD? If not, that makes a move easier. If what SD has to offer isn’t worth the $$$ for you and your family then yes I would try something else. We did and had the bubble not imploded we probably would have stayed in NC even though most of our family lives in SD.

We ended buying a stock condition place in mission hills about half the size of the turnkey mansion we had in Chapel Hill but it has plenty of outdoor space. That was my big priority. I wanted to be outside year round in an area where I would not be swarmed by the attack of the mosquitos. Well and I also appreciate the ocean breezes. Sometimes in North Carolina when the heat index is pushing 105 degrees you go outside and the lack of a breeze is so intense it feels like you are in a super-heated vacuum.

[pemeliza]

“Can you really advocate raising kids in this state. How can a wife stay home with the kids, and still be able to pay the mortgage. How can a family live in a good school district, have a yard, and afford to eat? You can’t unless you are in the top 3%”

Ultimately you have to prioritize. When the bubble took off back in 2004, I got the heck out of dodge and moved to Chapel Hill, North Carolina. Those little college towns are awesome places to raise a family if you can find decent work. Another problem with moving is family. Is you family in SD? If not, that makes a move easier. If what SD has to offer isn’t worth the $$$ for you and your family then yes I would try something else. We did and had the bubble not imploded we probably would have stayed in NC even though most of our family lives in SD.

We ended buying a stock condition place in mission hills about half the size of the turnkey mansion we had in Chapel Hill but it has plenty of outdoor space. That was my big priority. I wanted to be outside year round in an area where I would not be swarmed by the attack of the mosquitos. Well and I also appreciate the ocean breezes. Sometimes in North Carolina when the heat index is pushing 105 degrees you go outside and the lack of a breeze is so intense it feels like you are in a super-heated vacuum.

[pemeliza]

“Can you really advocate raising kids in this state. How can a wife stay home with the kids, and still be able to pay the mortgage. How can a family live in a good school district, have a yard, and afford to eat? You can’t unless you are in the top 3%”

Ultimately you have to prioritize. When the bubble took off back in 2004, I got the heck out of dodge and moved to Chapel Hill, North Carolina. Those little college towns are awesome places to raise a family if you can find decent work. Another problem with moving is family. Is you family in SD? If not, that makes a move easier. If what SD has to offer isn’t worth the $$$ for you and your family then yes I would try something else. We did and had the bubble not imploded we probably would have stayed in NC even though most of our family lives in SD.

We ended buying a stock condition place in mission hills about half the size of the turnkey mansion we had in Chapel Hill but it has plenty of outdoor space. That was my big priority. I wanted to be outside year round in an area where I would not be swarmed by the attack of the mosquitos. Well and I also appreciate the ocean breezes. Sometimes in North Carolina when the heat index is pushing 105 degrees you go outside and the lack of a breeze is so intense it feels like you are in a super-heated vacuum.

[sobmaz]

Yep, I agree with the Realtors…….THIS TIME IS DIFFERENT!

During the early 2000’s the FED caused a realestate bubble across the nation both by driving rates down too low and allowing easy credit.

Now in a desperate attempt to thwart a Great Depression it has dropped rates to a point that is LOWER than what caused the great real estate bubble of the 2000’s!!

It is illogical to think San Diego real estate is being affected to a large degree by interest rates. We here in San Diego are in a new paradigm, this time IS different.

We all know that even if the FED would have kept interest rates at a level that didn’t rob the Prudent savers out there over the last 10 years, the huge run up in San Diego would have still occurred.

It is only coincidence that a bubble occurred nationally at the same time San Diego underwent its “repricing” to fair market value.

It is a new age.

[sobmaz]

Yep, I agree with the Realtors…….THIS TIME IS DIFFERENT!

During the early 2000’s the FED caused a realestate bubble across the nation both by driving rates down too low and allowing easy credit.

Now in a desperate attempt to thwart a Great Depression it has dropped rates to a point that is LOWER than what caused the great real estate bubble of the 2000’s!!

It is illogical to think San Diego real estate is being affected to a large degree by interest rates. We here in San Diego are in a new paradigm, this time IS different.

We all know that even if the FED would have kept interest rates at a level that didn’t rob the Prudent savers out there over the last 10 years, the huge run up in San Diego would have still occurred.

It is only coincidence that a bubble occurred nationally at the same time San Diego underwent its “repricing” to fair market value.

It is a new age.

[sobmaz]

Yep, I agree with the Realtors…….THIS TIME IS DIFFERENT!

During the early 2000’s the FED caused a realestate bubble across the nation both by driving rates down too low and allowing easy credit.

Now in a desperate attempt to thwart a Great Depression it has dropped rates to a point that is LOWER than what caused the great real estate bubble of the 2000’s!!

It is illogical to think San Diego real estate is being affected to a large degree by interest rates. We here in San Diego are in a new paradigm, this time IS different.

We all know that even if the FED would have kept interest rates at a level that didn’t rob the Prudent savers out there over the last 10 years, the huge run up in San Diego would have still occurred.

It is only coincidence that a bubble occurred nationally at the same time San Diego underwent its “repricing” to fair market value.

It is a new age.

[sobmaz]

Yep, I agree with the Realtors…….THIS TIME IS DIFFERENT!

During the early 2000’s the FED caused a realestate bubble across the nation both by driving rates down too low and allowing easy credit.

Now in a desperate attempt to thwart a Great Depression it has dropped rates to a point that is LOWER than what caused the great real estate bubble of the 2000’s!!

It is illogical to think San Diego real estate is being affected to a large degree by interest rates. We here in San Diego are in a new paradigm, this time IS different.

We all know that even if the FED would have kept interest rates at a level that didn’t rob the Prudent savers out there over the last 10 years, the huge run up in San Diego would have still occurred.

It is only coincidence that a bubble occurred nationally at the same time San Diego underwent its “repricing” to fair market value.

It is a new age.

[sobmaz]

Yep, I agree with the Realtors…….THIS TIME IS DIFFERENT!

During the early 2000’s the FED caused a realestate bubble across the nation both by driving rates down too low and allowing easy credit.

Now in a desperate attempt to thwart a Great Depression it has dropped rates to a point that is LOWER than what caused the great real estate bubble of the 2000’s!!

It is illogical to think San Diego real estate is being affected to a large degree by interest rates. We here in San Diego are in a new paradigm, this time IS different.

We all know that even if the FED would have kept interest rates at a level that didn’t rob the Prudent savers out there over the last 10 years, the huge run up in San Diego would have still occurred.

It is only coincidence that a bubble occurred nationally at the same time San Diego underwent its “repricing” to fair market value.

It is a new age.

[sdrealtor]

1. If there is one thing we have learned over time it is that history tends to repeats itself.

2. Interest rates for mortgages above $4147K are lower here than areas that dont benefit from the 697K super conforming rates. The jumbo rates area couple percetnage higher.

Here is the other thing you are missing. Even though interests may be the same elsewhere there is more demand here from outside the area. When affordability rises here, people come here that couldnt before. Demand prices drives higher here in ways it cant in Paducah.

3. Real estate taxes are a big deal in keeping people in place. While some things are more expensive here back east my car insurance would be double, my health insurance would be a few hundred dollars more, my heating/ac bill at least $300/month more, my car would need to be replaced more often, snow removal, my brother in law spends close to $1000 a year for a Fall leaf clean-up on his 1/3rd acre property (thats what my total annual bill is for a weekly landscping service), vacations would be more often/expensive (we get to live where people come for vacations of a lifetime) and dont even get me started with the keeping up with the Jonses menatality back there (my kids are fine with clothes from Target where as that is unacceptable to my nieces/nephews in NJ). Relative to other major metro areas in this country I dont find it expensive here except for housing and gas.

4. When supply is low what little sells goes at a higher price. The whole shadow inventory/constrained supply we have been going through pretty much proves that.

5. My point was not about people coming to retire here but rather staying in their homes after retirement which happens far more often here than other prime metro areas.

I was not asking you to leave but rather asking you to look in the mirror and ask yourself why you are here. The reason is because it’s a great place (which you said) and people are willing to pay more for great things. It is not denying the basic rules of accounting in anyway. It is about priorities. Of course we all have to eat but there are lots of other more discretionary items. People are willing to devote a higher percentage of their income here than other places.

It sounds like you are evaluating those priorities right now and may choose to leave. You are going through an evaluation of those priorities right now. I am rasing kids right now and cant think of a better place to do so. I am in a great school district and you dont have to be in anything close to the top 3% to afford a home here. You can also rent a home. The “laws of accounting” are working fine here its just the inventory that is constrained. Hopefully we will get more invetory turnover but I just dont see it changing dramatically to either side. I guess we’ll just have to watch and wait.

Got a #6. Technology has allowed people to work more remotely and that has allowed many people to work from home and to choose where that home will be. Higher income folks can move here and live a better lifestyle which they can afford. I have a good friend (independent business consultant) that is leaving NYC after 47 years and moving to my neighborhood because he can. Lower income folks can also leave here and live a better lifestyle in place they can afford.

Lastly, its easy to try and discredit points one at a time but its not any single point that makes a difference but rather all in concert that do. Each one contributes a little and together they make things behave as they do.

[sdrealtor]

1. If there is one thing we have learned over time it is that history tends to repeats itself.

2. Interest rates for mortgages above $4147K are lower here than areas that dont benefit from the 697K super conforming rates. The jumbo rates area couple percetnage higher.

Here is the other thing you are missing. Even though interests may be the same elsewhere there is more demand here from outside the area. When affordability rises here, people come here that couldnt before. Demand prices drives higher here in ways it cant in Paducah.

3. Real estate taxes are a big deal in keeping people in place. While some things are more expensive here back east my car insurance would be double, my health insurance would be a few hundred dollars more, my heating/ac bill at least $300/month more, my car would need to be replaced more often, snow removal, my brother in law spends close to $1000 a year for a Fall leaf clean-up on his 1/3rd acre property (thats what my total annual bill is for a weekly landscping service), vacations would be more often/expensive (we get to live where people come for vacations of a lifetime) and dont even get me started with the keeping up with the Jonses menatality back there (my kids are fine with clothes from Target where as that is unacceptable to my nieces/nephews in NJ). Relative to other major metro areas in this country I dont find it expensive here except for housing and gas.

4. When supply is low what little sells goes at a higher price. The whole shadow inventory/constrained supply we have been going through pretty much proves that.

5. My point was not about people coming to retire here but rather staying in their homes after retirement which happens far more often here than other prime metro areas.

I was not asking you to leave but rather asking you to look in the mirror and ask yourself why you are here. The reason is because it’s a great place (which you said) and people are willing to pay more for great things. It is not denying the basic rules of accounting in anyway. It is about priorities. Of course we all have to eat but there are lots of other more discretionary items. People are willing to devote a higher percentage of their income here than other places.

It sounds like you are evaluating those priorities right now and may choose to leave. You are going through an evaluation of those priorities right now. I am rasing kids right now and cant think of a better place to do so. I am in a great school district and you dont have to be in anything close to the top 3% to afford a home here. You can also rent a home. The “laws of accounting” are working fine here its just the inventory that is constrained. Hopefully we will get more invetory turnover but I just dont see it changing dramatically to either side. I guess we’ll just have to watch and wait.

Got a #6. Technology has allowed people to work more remotely and that has allowed many people to work from home and to choose where that home will be. Higher income folks can move here and live a better lifestyle which they can afford. I have a good friend (independent business consultant) that is leaving NYC after 47 years and moving to my neighborhood because he can. Lower income folks can also leave here and live a better lifestyle in place they can afford.

Lastly, its easy to try and discredit points one at a time but its not any single point that makes a difference but rather all in concert that do. Each one contributes a little and together they make things behave as they do.

[sdrealtor]

1. If there is one thing we have learned over time it is that history tends to repeats itself.

2. Interest rates for mortgages above $4147K are lower here than areas that dont benefit from the 697K super conforming rates. The jumbo rates area couple percetnage higher.

Here is the other thing you are missing. Even though interests may be the same elsewhere there is more demand here from outside the area. When affordability rises here, people come here that couldnt before. Demand prices drives higher here in ways it cant in Paducah.

3. Real estate taxes are a big deal in keeping people in place. While some things are more expensive here back east my car insurance would be double, my health insurance would be a few hundred dollars more, my heating/ac bill at least $300/month more, my car would need to be replaced more often, snow removal, my brother in law spends close to $1000 a year for a Fall leaf clean-up on his 1/3rd acre property (thats what my total annual bill is for a weekly landscping service), vacations would be more often/expensive (we get to live where people come for vacations of a lifetime) and dont even get me started with the keeping up with the Jonses menatality back there (my kids are fine with clothes from Target where as that is unacceptable to my nieces/nephews in NJ). Relative to other major metro areas in this country I dont find it expensive here except for housing and gas.

4. When supply is low what little sells goes at a higher price. The whole shadow inventory/constrained supply we have been going through pretty much proves that.

5. My point was not about people coming to retire here but rather staying in their homes after retirement which happens far more often here than other prime metro areas.

I was not asking you to leave but rather asking you to look in the mirror and ask yourself why you are here. The reason is because it’s a great place (which you said) and people are willing to pay more for great things. It is not denying the basic rules of accounting in anyway. It is about priorities. Of course we all have to eat but there are lots of other more discretionary items. People are willing to devote a higher percentage of their income here than other places.

It sounds like you are evaluating those priorities right now and may choose to leave. You are going through an evaluation of those priorities right now. I am rasing kids right now and cant think of a better place to do so. I am in a great school district and you dont have to be in anything close to the top 3% to afford a home here. You can also rent a home. The “laws of accounting” are working fine here its just the inventory that is constrained. Hopefully we will get more invetory turnover but I just dont see it changing dramatically to either side. I guess we’ll just have to watch and wait.

Got a #6. Technology has allowed people to work more remotely and that has allowed many people to work from home and to choose where that home will be. Higher income folks can move here and live a better lifestyle which they can afford. I have a good friend (independent business consultant) that is leaving NYC after 47 years and moving to my neighborhood because he can. Lower income folks can also leave here and live a better lifestyle in place they can afford.

Lastly, its easy to try and discredit points one at a time but its not any single point that makes a difference but rather all in concert that do. Each one contributes a little and together they make things behave as they do.

[sdrealtor]

1. If there is one thing we have learned over time it is that history tends to repeats itself.

2. Interest rates for mortgages above $4147K are lower here than areas that dont benefit from the 697K super conforming rates. The jumbo rates area couple percetnage higher.

Here is the other thing you are missing. Even though interests may be the same elsewhere there is more demand here from outside the area. When affordability rises here, people come here that couldnt before. Demand prices drives higher here in ways it cant in Paducah.

3. Real estate taxes are a big deal in keeping people in place. While some things are more expensive here back east my car insurance would be double, my health insurance would be a few hundred dollars more, my heating/ac bill at least $300/month more, my car would need to be replaced more often, snow removal, my brother in law spends close to $1000 a year for a Fall leaf clean-up on his 1/3rd acre property (thats what my total annual bill is for a weekly landscping service), vacations would be more often/expensive (we get to live where people come for vacations of a lifetime) and dont even get me started with the keeping up with the Jonses menatality back there (my kids are fine with clothes from Target where as that is unacceptable to my nieces/nephews in NJ). Relative to other major metro areas in this country I dont find it expensive here except for housing and gas.

4. When supply is low what little sells goes at a higher price. The whole shadow inventory/constrained supply we have been going through pretty much proves that.

5. My point was not about people coming to retire here but rather staying in their homes after retirement which happens far more often here than other prime metro areas.

I was not asking you to leave but rather asking you to look in the mirror and ask yourself why you are here. The reason is because it’s a great place (which you said) and people are willing to pay more for great things. It is not denying the basic rules of accounting in anyway. It is about priorities. Of course we all have to eat but there are lots of other more discretionary items. People are willing to devote a higher percentage of their income here than other places.

It sounds like you are evaluating those priorities right now and may choose to leave. You are going through an evaluation of those priorities right now. I am rasing kids right now and cant think of a better place to do so. I am in a great school district and you dont have to be in anything close to the top 3% to afford a home here. You can also rent a home. The “laws of accounting” are working fine here its just the inventory that is constrained. Hopefully we will get more invetory turnover but I just dont see it changing dramatically to either side. I guess we’ll just have to watch and wait.

Got a #6. Technology has allowed people to work more remotely and that has allowed many people to work from home and to choose where that home will be. Higher income folks can move here and live a better lifestyle which they can afford. I have a good friend (independent business consultant) that is leaving NYC after 47 years and moving to my neighborhood because he can. Lower income folks can also leave here and live a better lifestyle in place they can afford.

Lastly, its easy to try and discredit points one at a time but its not any single point that makes a difference but rather all in concert that do. Each one contributes a little and together they make things behave as they do.

[Author]

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