Three years renting, yearly update

[svelte]

poorsaver used to call himself cashman and his story checks out:

http://piggington.com/ny_times_a_word_of_advice_during_a_housing_slump_rent

He’s telling the truth.

Cashman/poorsaver, the post I included above states you parked the $2M in the bank drawing 5% interest…that means you’ve been earning $100K per year, more than offsetting the $100K total for 3 years you’ve flushed by renting.

It’s still eating you up that you didn’t sell at the peak for your area, but no one can see the future.

Don’t worry, be happy…time is on your side. Losing $33K each year by renting while you are gaining $100K each year by parking your equity, you’ll gain back that “equity” you feel you lost by selling too soon before too long.

You did the right thing. No single man needs a 7,000 sf house anyway.

[poorsaver]

Kudos on your research, svelte, yes I used to be cashman. After Bernanke and Co. started lowering rates, my 5% on the 2 mil was getting more elusive. I’m lucky to find 4% nowadays. Spread over several accounts, I’m averaging about 3.6%. So, thanks to the policies of our government, I am now a poor saver.

You’re right, who needs a 7700 sf. house, especially if they’re single. 3800 sf does just fine.

[poorsaver]

Kudos on your research, svelte, yes I used to be cashman. After Bernanke and Co. started lowering rates, my 5% on the 2 mil was getting more elusive. I’m lucky to find 4% nowadays. Spread over several accounts, I’m averaging about 3.6%. So, thanks to the policies of our government, I am now a poor saver.

You’re right, who needs a 7700 sf. house, especially if they’re single. 3800 sf does just fine.

[poorsaver]

Kudos on your research, svelte, yes I used to be cashman. After Bernanke and Co. started lowering rates, my 5% on the 2 mil was getting more elusive. I’m lucky to find 4% nowadays. Spread over several accounts, I’m averaging about 3.6%. So, thanks to the policies of our government, I am now a poor saver.

You’re right, who needs a 7700 sf. house, especially if they’re single. 3800 sf does just fine.

[poorsaver]

Kudos on your research, svelte, yes I used to be cashman. After Bernanke and Co. started lowering rates, my 5% on the 2 mil was getting more elusive. I’m lucky to find 4% nowadays. Spread over several accounts, I’m averaging about 3.6%. So, thanks to the policies of our government, I am now a poor saver.

You’re right, who needs a 7700 sf. house, especially if they’re single. 3800 sf does just fine.

[poorsaver]

Kudos on your research, svelte, yes I used to be cashman. After Bernanke and Co. started lowering rates, my 5% on the 2 mil was getting more elusive. I’m lucky to find 4% nowadays. Spread over several accounts, I’m averaging about 3.6%. So, thanks to the policies of our government, I am now a poor saver.

You’re right, who needs a 7700 sf. house, especially if they’re single. 3800 sf does just fine.

[eyePod]

PS, you haven’t done poorly. Sounds more like you need to buy yourself a house.

[eyePod]

PS, you haven’t done poorly. Sounds more like you need to buy yourself a house.

[eyePod]

PS, you haven’t done poorly. Sounds more like you need to buy yourself a house.

[eyePod]

PS, you haven’t done poorly. Sounds more like you need to buy yourself a house.

[eyePod]

PS, you haven’t done poorly. Sounds more like you need to buy yourself a house.

[ocrenter]

$2 million in savings at 3.6% is still $72k per year, or $216k during the last 3 years, of which $101k went for rent, so you are positive $115k over the last 3 years.

you know The Country will be one of the last to fall in value. Due to #1, LA is at least 1-2 years behind SD. and #2, the Asian factor, which does delay the crash some more.

it is safe to assume most of SD have already experienced 30% drop from peak (except isolated coastal pockets). The fact that your target area has already seen 15% drop is quite encouraging for you. you are likely to see another 15% drop in value in your neck of the woods come 2009.

but unfortunately, if you want to fully realize your profits from the “sell and rent” strategy, you can’t buy until 2011. That’s 4 years from the 2007 peak you mentioned previously.

This is the perfect example of how good neighborhoods hold up value and keep peaking and crash late.

[ocrenter]

$2 million in savings at 3.6% is still $72k per year, or $216k during the last 3 years, of which $101k went for rent, so you are positive $115k over the last 3 years.

you know The Country will be one of the last to fall in value. Due to #1, LA is at least 1-2 years behind SD. and #2, the Asian factor, which does delay the crash some more.

it is safe to assume most of SD have already experienced 30% drop from peak (except isolated coastal pockets). The fact that your target area has already seen 15% drop is quite encouraging for you. you are likely to see another 15% drop in value in your neck of the woods come 2009.

but unfortunately, if you want to fully realize your profits from the “sell and rent” strategy, you can’t buy until 2011. That’s 4 years from the 2007 peak you mentioned previously.

This is the perfect example of how good neighborhoods hold up value and keep peaking and crash late.

[ocrenter]

$2 million in savings at 3.6% is still $72k per year, or $216k during the last 3 years, of which $101k went for rent, so you are positive $115k over the last 3 years.

you know The Country will be one of the last to fall in value. Due to #1, LA is at least 1-2 years behind SD. and #2, the Asian factor, which does delay the crash some more.

it is safe to assume most of SD have already experienced 30% drop from peak (except isolated coastal pockets). The fact that your target area has already seen 15% drop is quite encouraging for you. you are likely to see another 15% drop in value in your neck of the woods come 2009.

but unfortunately, if you want to fully realize your profits from the “sell and rent” strategy, you can’t buy until 2011. That’s 4 years from the 2007 peak you mentioned previously.

This is the perfect example of how good neighborhoods hold up value and keep peaking and crash late.

[ocrenter]

$2 million in savings at 3.6% is still $72k per year, or $216k during the last 3 years, of which $101k went for rent, so you are positive $115k over the last 3 years.

you know The Country will be one of the last to fall in value. Due to #1, LA is at least 1-2 years behind SD. and #2, the Asian factor, which does delay the crash some more.

it is safe to assume most of SD have already experienced 30% drop from peak (except isolated coastal pockets). The fact that your target area has already seen 15% drop is quite encouraging for you. you are likely to see another 15% drop in value in your neck of the woods come 2009.

but unfortunately, if you want to fully realize your profits from the “sell and rent” strategy, you can’t buy until 2011. That’s 4 years from the 2007 peak you mentioned previously.

This is the perfect example of how good neighborhoods hold up value and keep peaking and crash late.

[Author]

Posts