[70Degrees]

Thanks, I appreciate the response. This is a single property, and I understand odds are low that it actually hits auction. It’s also likely that if this one did hit, it would be beyond our budget, but it’s unique enough for us that I’m willing to go through the effort just in case, and I consider it a useful educational exercise anyways 🙂

Property taxes I’ve already checked on, it’s the lien situation that I need help navigating. I’ll join foreclosure radar and engage a title company. Thanks

[70Degrees]

Ooops, missed the memo on boycotting black friday. I was afraid to leave the house so I just shopped online.

Got into cycling this year so recreational shopping for all things bikes is kind of my thing. Black friday deals were pretty amazing, kind of makes me feel like I’ve been overpaying the rest of the year!

Fancy bike wheels cost as much or more than car wheels, but everyone knows if you look fast you go fast, so what the heck.

[70Degrees]

[quote=scaredyclassic]Ballpark how much is it worth? Does it all depend on who the buyer is?[/quote]

Finally something I can contribute to on this board after 4 years of (mostly) lurking!

Yes, it depends on who the buyer is.

So my business is internet marketing. This is peripheral to it, though not my focus at all. I do know many people that would identify themselves as ‘domainers’, including some of the truly large portfolio guys. Large collections can easily be valued in the $10M’s and there was a time 5-10 years ago where $200M+ was not a ‘crazy’ number. BUT. Those collections typically have a large amount of advertising revenue associated with them ($10M’s) — so the valuation is effectively a multiple of their revenue.

The question of “how much is it worth” is really between the buyer and the seller and is VERY much influenced by the needs of both. There are examples of seemingly mundane names for going for large sums because the buyer had both money, and a unique need — iReport.com for example sold to CNN for $750k. Presumably, CNN had already identified the marketing branding etc and really wanted that name. Not getting that name would likely have required them to rethink all the branding. The seller knew they were negotiating with CNN and effectively took advantage of the situation. He’s been quoted as saying something along the lines of “pick a number that will make a difference in your life” as the way he decides how to price a domain.

In this example, I’d suggest you look at it similarly. You bought it for a fun reason and you identify with it. So it has some value to you beyond the $10 you pay to renew it every year.

Decide what price would make it so you wouldn’t regret giving up that value + the hassle of transferring it (should be minimal, but your time is worth something).. then pad it up some and go with it.

Odds are its not not a serious buyer and they’ll get mad at you wondering why you expect them to pay you more than $10, after all, that’s all you paid.

If FOMO makes you nervous, then try and figure out who the buyer is what they want with it. Heck, maybe just ask them.

[quote=njtosd]Whatever you ask, it should be less than it would cost for someone to contest it. Unless you’re planning on having a website active at the oldmanstrong address.[/quote]

Unless you happen to be infringing on someone else’s IP, this is not an issue. Owning a domain without putting a website on it does not constitute any kind of contestable offence. It’s kinda like owning land without building anything…

For those of you that like data 🙂 this is a pretty reliable source of high value domain sales$ figures — http://dnjournal.com/ytd-sales-charts.htm. Sadly the guy that runs that site isn’t as good with Excel as Rich is, so there are no pretty graphs

[70Degrees]

[quote=CDMA ENG]Three words for you FLU.

Kart

Kart

Kart

Its were realy F1 drivers get thier start and it cost virtually nothing…

CE[/quote]

Ditto. Calspeed karting at auto club in Fontana runs a good arrive and drive league. Karts are very well maintained and usually heats of about 20 which makes for a fun time on track. My son and I go semi regularly – biggest problem is it’s all the way in Fontana..

[70Degrees]

[quote=CA renter]Next, we’ll off-shore all the tech jobs, then the medical services jobs that don’t need to be performed here. Then, we’ll off-shore all our financial services jobs, since there are plenty of people around the world who would gladly do those jobs for a tiny fraction of what our financiers are being paid. Of course, we need to off-shore our legal work. A well-trained attorney in India can do what a lawyer does here for 1/10 of the cost. Best of all, we won’t have to provide health benefits or 401ks or any other kind of benefit for anyone, since there are billions of people around the world who can easily take every single American job and do it for a fraction of the cost!

Life will be grand when every American is working for $10/day!!!! All our problems will be solved![/quote]

That Indian lawyer cant sit down in a room and talk to me about my family and my kids, and take me out for lunch and build my confidence that he can handle my case. So what happens is the smart American firm figures out that the relationship and the complex law can be handled locally, and they can hand off the routine stuff to someone better suited to do the job (in india), with the American continuing to manage the relationship.

I’m no econ major but i think this is standard market economics stuff and is no different than a company in california opening a plant in say ohio because the labour base is cheaper. Or even someone starting their own business and then hiring some part time staff to do work for them because the part time staff work cheaper than they themselves do.

Off shoring jobs is just work going to those best suited to do it. If you dont want to do that then stop exporting anything too – doesnt seem fair to say we can take their jobs but they cant take ours. I always think of the USA as the best example of a place where merit wins, and jobs moving around is just merit winning isnt it?

I’ve been teaching my kids for years that there are no guarrantees. Your job and your paycheque are only as good as the value you deliver today. Yesterday doesnt matter – you already got paid for it. If you want yeaterday to pay you tomorrow then thats up to you and you need to invest in some passive income – otherwise you’d better work hard today and make sure that you are defnding your value for tomorrow. That means providing skills that are unique and in demand.

If you dont someone else will take your job… Whether its your neighbor or a guy in India really doesnt matter – you’re still outof anjob because someone els could do it better.

[70Degrees]

[quote=SK in CV]
To a great extent, that is hogwash. If you log into your etrade account, and purchase 100 shares of Ford, it does nothing to further economic development. It has no effect on whether Ford expands their workforce or opens a new plant. It provides no new capital. Same logic applies to the billions of dollars that are traded daily on the world’s exchanges for common stocks, mutual funds, ETF’s or the secondary markets for fixed income securities. IPO’s, initial direct investments in new companies provides that capital. A tiny fraction of the total invested capital.[/quote]

What this provides is liquidity. Without liquidity the market would not exist – at least not at anything resembling the scale it does now. As someone else said, the ford family was able to sell in the first place because the new buyer knew they had some liquidity. As a result, that initial sale got a higher price than it otherwise would have.

Likewise, when the company subsequently made offers of new stock, the same apllied. Those new offers provided capital to the company that it uses to expand and create jobs. In the absence of the ability to sell shares, those investments in ford people made would have looked more like donations to ford. And i think thats how it would be treated if massive changes to the treatment of invested income were introduced – prices would tank to compensate for the increased tax.

None of those ipo’s would exist if the new buyers didnt think they could sell their stock.

Although a fun armchair exercise there are so many trickle down effects of any taxation change that i dont think we’ll realy see anything major anytime soon.

[70Degrees]

Why all the negativity about this? It seems like a great deal for the US – watch people clamor all of themselves to pay $500k for the privilege of having their WORLDWIDE income taxed by the US, regardless of where they live.

So I dont think you’ll see people getting green cards when they buy their kids houses for school unless they are intending to move here themselves… And someone that is buying a house for their kids to go to school would probably be bringing substantial financial assets into the country as well as a business, or they’ll have a foreign business they keep.

In either case they will be paying more us tax next year than they do now (none!) and in the case of the foreign business they’ll be paying tax on it too. Aside from tax, The financial assets they bring into the country go straight to the local economy.

What am i missing?

[70Degrees]

Wow. Lots to catch-up with on this thread!

[quote=Fearful]
I was bemused by the Canadians rationalizing buying U.S. real estate because “if the Loonie falls, the value of this real estate [relative to me] will go up.”

What if the Loonie continues to rise and U.S. real estate continues to fall? What then, Mr. Canadian, sir?
[/quote]

Speaking as a Canadian in exactly this situation I think I’ll do what I moved here to do – continue enjoying the weather. I wouldn’t recommend moving across a continent to a new country as an investment strategy – its a remarkable amount of work and aggravation.

[quote=masayako]No foreign buyers = less demand

Less demand = lower the Housing price

So, I am saying the exchange rate and currency is killing us local buyers because it kills our purchasing power.

The foreigners are here to make profits for themselves, not here to save our economy. When the price go back up, they will sell their houses back to us at a higher price to make money for themselves. Got it?[/quote]

So I think you are saying that without foreign buyers like me the local sellers would have had to sell for even less? Hmm. That would have been so much better for the economy.

And no, I’m not here to save the economy, though I do pay taxes (quite likely more than I did in Canada), and I did buy cars, furniture, insurance, health insurance, and directly create a few jobs. I guess it would have been better if I stayed home.

[quote=sdrealtor]
Is it possible they are buying here to enjoy what we have to offer? Contrary to popular belief around here this is still the greatest country on the planet.
[/quote]

Yes, quite possible. At risk of getting chased out back to Canada I’m going to go out on a limb and declare this a GREAT country – I’ve only lived in two, so I don’t think I’m in a position to declare it the GREATEST. 🙂

[quote=ucodegen]
Did anyone ask:
Who is financing these Canadian purchases? Canadian banks restrict the amount of leverage, but US banks are more ‘generous’ on their leverage.
If the properties are being purchased by Canadians, using US Banks, we could be looking at R.E. collapse #2. Foreigners have a greater incentive to just walk away if the deal goes bad, particularly if they are highly leveraged. Now who makes the US Banks whole? Will they be expecting bailout #n+1?
[/quote]

I’d suggest that most Canadians are probably buying cash, or borrowing from Canadian banks. From what I can see US Banks will barely lend money to Americans these days. We weren’t able to get a mortgage, even with 60%++ down.

Now, if a bank would have been dumb enough to let a foreigner take out a 95% mortgage then I don’t see why that foreigner should get judged any differently for walking away than a local.

There are more people in California than all of Canada, so I think I can say with confidence than things would have to be pretty bad for a few defaulting canadians to push you over the brink.

[quote=masayako]
Imagine an extreme scenario, let’s say a foreign RE investment group buy all the rental apartment complex near SDSU, and then raise rent by 20%. We would have a rental shortage near SDSU instantly and local students would need to pay more to be able to live near the school and have less money to spend on other items.[/quote]

Umm, if the market near SDSU would bear a 20% rate increase, why isn’t the current landlord doing that? What does this have to do with foreign investors?

[quote=masayako]
Just look at Vancouver, people from Hong Kong ‘invest’ in it and now they are the biggest landlord in Vancouver. What happened next? Housing price tripled. Local buyers forced to move out from the good neighborhoods in Vancouver to somewhere remote.
[/quote]

I don’t know Vancouver well – and honestly, even Canadian press seems to think its in a huge bubble. That said its also probably the nicest place in Canada to live (mountains, ocean, fairly temperate…. like san diego but lots more rain!) but Toronto is an amazing multicultural city and never once have I heard anyone curse all the foreigners. They are a big part of what makes Toronto .. well, Toronto.

We love San Diego – we’re coming up on the end of our first year here and have made lots of great friends. Our kids love their schools, the weather is great, and people love to come visit. I like to think we’ve been a positive addition to the area.

(also worth noting that I think our house was forsale for 2 years before we bought it … so I don’t think there’s an argument that we stole it away from some local buyer!)

[70Degrees]

Wow. Lots to catch-up with on this thread!

[quote=Fearful]
I was bemused by the Canadians rationalizing buying U.S. real estate because “if the Loonie falls, the value of this real estate [relative to me] will go up.”

What if the Loonie continues to rise and U.S. real estate continues to fall? What then, Mr. Canadian, sir?
[/quote]

Speaking as a Canadian in exactly this situation I think I’ll do what I moved here to do – continue enjoying the weather. I wouldn’t recommend moving across a continent to a new country as an investment strategy – its a remarkable amount of work and aggravation.

[quote=masayako]No foreign buyers = less demand

Less demand = lower the Housing price

So, I am saying the exchange rate and currency is killing us local buyers because it kills our purchasing power.

The foreigners are here to make profits for themselves, not here to save our economy. When the price go back up, they will sell their houses back to us at a higher price to make money for themselves. Got it?[/quote]

So I think you are saying that without foreign buyers like me the local sellers would have had to sell for even less? Hmm. That would have been so much better for the economy.

And no, I’m not here to save the economy, though I do pay taxes (quite likely more than I did in Canada), and I did buy cars, furniture, insurance, health insurance, and directly create a few jobs. I guess it would have been better if I stayed home.

[quote=sdrealtor]
Is it possible they are buying here to enjoy what we have to offer? Contrary to popular belief around here this is still the greatest country on the planet.
[/quote]

Yes, quite possible. At risk of getting chased out back to Canada I’m going to go out on a limb and declare this a GREAT country – I’ve only lived in two, so I don’t think I’m in a position to declare it the GREATEST. 🙂

[quote=ucodegen]
Did anyone ask:
Who is financing these Canadian purchases? Canadian banks restrict the amount of leverage, but US banks are more ‘generous’ on their leverage.
If the properties are being purchased by Canadians, using US Banks, we could be looking at R.E. collapse #2. Foreigners have a greater incentive to just walk away if the deal goes bad, particularly if they are highly leveraged. Now who makes the US Banks whole? Will they be expecting bailout #n+1?
[/quote]

I’d suggest that most Canadians are probably buying cash, or borrowing from Canadian banks. From what I can see US Banks will barely lend money to Americans these days. We weren’t able to get a mortgage, even with 60%++ down.

Now, if a bank would have been dumb enough to let a foreigner take out a 95% mortgage then I don’t see why that foreigner should get judged any differently for walking away than a local.

There are more people in California than all of Canada, so I think I can say with confidence than things would have to be pretty bad for a few defaulting canadians to push you over the brink.

[quote=masayako]
Imagine an extreme scenario, let’s say a foreign RE investment group buy all the rental apartment complex near SDSU, and then raise rent by 20%. We would have a rental shortage near SDSU instantly and local students would need to pay more to be able to live near the school and have less money to spend on other items.[/quote]

Umm, if the market near SDSU would bear a 20% rate increase, why isn’t the current landlord doing that? What does this have to do with foreign investors?

[quote=masayako]
Just look at Vancouver, people from Hong Kong ‘invest’ in it and now they are the biggest landlord in Vancouver. What happened next? Housing price tripled. Local buyers forced to move out from the good neighborhoods in Vancouver to somewhere remote.
[/quote]

I don’t know Vancouver well – and honestly, even Canadian press seems to think its in a huge bubble. That said its also probably the nicest place in Canada to live (mountains, ocean, fairly temperate…. like san diego but lots more rain!) but Toronto is an amazing multicultural city and never once have I heard anyone curse all the foreigners. They are a big part of what makes Toronto .. well, Toronto.

We love San Diego – we’re coming up on the end of our first year here and have made lots of great friends. Our kids love their schools, the weather is great, and people love to come visit. I like to think we’ve been a positive addition to the area.

(also worth noting that I think our house was forsale for 2 years before we bought it … so I don’t think there’s an argument that we stole it away from some local buyer!)

[70Degrees]

Wow. Lots to catch-up with on this thread!

[quote=Fearful]
I was bemused by the Canadians rationalizing buying U.S. real estate because “if the Loonie falls, the value of this real estate [relative to me] will go up.”

What if the Loonie continues to rise and U.S. real estate continues to fall? What then, Mr. Canadian, sir?
[/quote]

Speaking as a Canadian in exactly this situation I think I’ll do what I moved here to do – continue enjoying the weather. I wouldn’t recommend moving across a continent to a new country as an investment strategy – its a remarkable amount of work and aggravation.

[quote=masayako]No foreign buyers = less demand

Less demand = lower the Housing price

So, I am saying the exchange rate and currency is killing us local buyers because it kills our purchasing power.

The foreigners are here to make profits for themselves, not here to save our economy. When the price go back up, they will sell their houses back to us at a higher price to make money for themselves. Got it?[/quote]

So I think you are saying that without foreign buyers like me the local sellers would have had to sell for even less? Hmm. That would have been so much better for the economy.

And no, I’m not here to save the economy, though I do pay taxes (quite likely more than I did in Canada), and I did buy cars, furniture, insurance, health insurance, and directly create a few jobs. I guess it would have been better if I stayed home.

[quote=sdrealtor]
Is it possible they are buying here to enjoy what we have to offer? Contrary to popular belief around here this is still the greatest country on the planet.
[/quote]

Yes, quite possible. At risk of getting chased out back to Canada I’m going to go out on a limb and declare this a GREAT country – I’ve only lived in two, so I don’t think I’m in a position to declare it the GREATEST. 🙂

[quote=ucodegen]
Did anyone ask:
Who is financing these Canadian purchases? Canadian banks restrict the amount of leverage, but US banks are more ‘generous’ on their leverage.
If the properties are being purchased by Canadians, using US Banks, we could be looking at R.E. collapse #2. Foreigners have a greater incentive to just walk away if the deal goes bad, particularly if they are highly leveraged. Now who makes the US Banks whole? Will they be expecting bailout #n+1?
[/quote]

I’d suggest that most Canadians are probably buying cash, or borrowing from Canadian banks. From what I can see US Banks will barely lend money to Americans these days. We weren’t able to get a mortgage, even with 60%++ down.

Now, if a bank would have been dumb enough to let a foreigner take out a 95% mortgage then I don’t see why that foreigner should get judged any differently for walking away than a local.

There are more people in California than all of Canada, so I think I can say with confidence than things would have to be pretty bad for a few defaulting canadians to push you over the brink.

[quote=masayako]
Imagine an extreme scenario, let’s say a foreign RE investment group buy all the rental apartment complex near SDSU, and then raise rent by 20%. We would have a rental shortage near SDSU instantly and local students would need to pay more to be able to live near the school and have less money to spend on other items.[/quote]

Umm, if the market near SDSU would bear a 20% rate increase, why isn’t the current landlord doing that? What does this have to do with foreign investors?

[quote=masayako]
Just look at Vancouver, people from Hong Kong ‘invest’ in it and now they are the biggest landlord in Vancouver. What happened next? Housing price tripled. Local buyers forced to move out from the good neighborhoods in Vancouver to somewhere remote.
[/quote]

I don’t know Vancouver well – and honestly, even Canadian press seems to think its in a huge bubble. That said its also probably the nicest place in Canada to live (mountains, ocean, fairly temperate…. like san diego but lots more rain!) but Toronto is an amazing multicultural city and never once have I heard anyone curse all the foreigners. They are a big part of what makes Toronto .. well, Toronto.

We love San Diego – we’re coming up on the end of our first year here and have made lots of great friends. Our kids love their schools, the weather is great, and people love to come visit. I like to think we’ve been a positive addition to the area.

(also worth noting that I think our house was forsale for 2 years before we bought it … so I don’t think there’s an argument that we stole it away from some local buyer!)

[70Degrees]

Wow. Lots to catch-up with on this thread!

[quote=Fearful]
I was bemused by the Canadians rationalizing buying U.S. real estate because “if the Loonie falls, the value of this real estate [relative to me] will go up.”

What if the Loonie continues to rise and U.S. real estate continues to fall? What then, Mr. Canadian, sir?
[/quote]

Speaking as a Canadian in exactly this situation I think I’ll do what I moved here to do – continue enjoying the weather. I wouldn’t recommend moving across a continent to a new country as an investment strategy – its a remarkable amount of work and aggravation.

[quote=masayako]No foreign buyers = less demand

Less demand = lower the Housing price

So, I am saying the exchange rate and currency is killing us local buyers because it kills our purchasing power.

The foreigners are here to make profits for themselves, not here to save our economy. When the price go back up, they will sell their houses back to us at a higher price to make money for themselves. Got it?[/quote]

So I think you are saying that without foreign buyers like me the local sellers would have had to sell for even less? Hmm. That would have been so much better for the economy.

And no, I’m not here to save the economy, though I do pay taxes (quite likely more than I did in Canada), and I did buy cars, furniture, insurance, health insurance, and directly create a few jobs. I guess it would have been better if I stayed home.

[quote=sdrealtor]
Is it possible they are buying here to enjoy what we have to offer? Contrary to popular belief around here this is still the greatest country on the planet.
[/quote]

Yes, quite possible. At risk of getting chased out back to Canada I’m going to go out on a limb and declare this a GREAT country – I’ve only lived in two, so I don’t think I’m in a position to declare it the GREATEST. 🙂

[quote=ucodegen]
Did anyone ask:
Who is financing these Canadian purchases? Canadian banks restrict the amount of leverage, but US banks are more ‘generous’ on their leverage.
If the properties are being purchased by Canadians, using US Banks, we could be looking at R.E. collapse #2. Foreigners have a greater incentive to just walk away if the deal goes bad, particularly if they are highly leveraged. Now who makes the US Banks whole? Will they be expecting bailout #n+1?
[/quote]

I’d suggest that most Canadians are probably buying cash, or borrowing from Canadian banks. From what I can see US Banks will barely lend money to Americans these days. We weren’t able to get a mortgage, even with 60%++ down.

Now, if a bank would have been dumb enough to let a foreigner take out a 95% mortgage then I don’t see why that foreigner should get judged any differently for walking away than a local.

There are more people in California than all of Canada, so I think I can say with confidence than things would have to be pretty bad for a few defaulting canadians to push you over the brink.

[quote=masayako]
Imagine an extreme scenario, let’s say a foreign RE investment group buy all the rental apartment complex near SDSU, and then raise rent by 20%. We would have a rental shortage near SDSU instantly and local students would need to pay more to be able to live near the school and have less money to spend on other items.[/quote]

Umm, if the market near SDSU would bear a 20% rate increase, why isn’t the current landlord doing that? What does this have to do with foreign investors?

[quote=masayako]
Just look at Vancouver, people from Hong Kong ‘invest’ in it and now they are the biggest landlord in Vancouver. What happened next? Housing price tripled. Local buyers forced to move out from the good neighborhoods in Vancouver to somewhere remote.
[/quote]

I don’t know Vancouver well – and honestly, even Canadian press seems to think its in a huge bubble. That said its also probably the nicest place in Canada to live (mountains, ocean, fairly temperate…. like san diego but lots more rain!) but Toronto is an amazing multicultural city and never once have I heard anyone curse all the foreigners. They are a big part of what makes Toronto .. well, Toronto.

We love San Diego – we’re coming up on the end of our first year here and have made lots of great friends. Our kids love their schools, the weather is great, and people love to come visit. I like to think we’ve been a positive addition to the area.

(also worth noting that I think our house was forsale for 2 years before we bought it … so I don’t think there’s an argument that we stole it away from some local buyer!)

[70Degrees]

Wow. Lots to catch-up with on this thread!

[quote=Fearful]
I was bemused by the Canadians rationalizing buying U.S. real estate because “if the Loonie falls, the value of this real estate [relative to me] will go up.”

What if the Loonie continues to rise and U.S. real estate continues to fall? What then, Mr. Canadian, sir?
[/quote]

Speaking as a Canadian in exactly this situation I think I’ll do what I moved here to do – continue enjoying the weather. I wouldn’t recommend moving across a continent to a new country as an investment strategy – its a remarkable amount of work and aggravation.

[quote=masayako]No foreign buyers = less demand

Less demand = lower the Housing price

So, I am saying the exchange rate and currency is killing us local buyers because it kills our purchasing power.

The foreigners are here to make profits for themselves, not here to save our economy. When the price go back up, they will sell their houses back to us at a higher price to make money for themselves. Got it?[/quote]

So I think you are saying that without foreign buyers like me the local sellers would have had to sell for even less? Hmm. That would have been so much better for the economy.

And no, I’m not here to save the economy, though I do pay taxes (quite likely more than I did in Canada), and I did buy cars, furniture, insurance, health insurance, and directly create a few jobs. I guess it would have been better if I stayed home.

[quote=sdrealtor]
Is it possible they are buying here to enjoy what we have to offer? Contrary to popular belief around here this is still the greatest country on the planet.
[/quote]

Yes, quite possible. At risk of getting chased out back to Canada I’m going to go out on a limb and declare this a GREAT country – I’ve only lived in two, so I don’t think I’m in a position to declare it the GREATEST. 🙂

[quote=ucodegen]
Did anyone ask:
Who is financing these Canadian purchases? Canadian banks restrict the amount of leverage, but US banks are more ‘generous’ on their leverage.
If the properties are being purchased by Canadians, using US Banks, we could be looking at R.E. collapse #2. Foreigners have a greater incentive to just walk away if the deal goes bad, particularly if they are highly leveraged. Now who makes the US Banks whole? Will they be expecting bailout #n+1?
[/quote]

I’d suggest that most Canadians are probably buying cash, or borrowing from Canadian banks. From what I can see US Banks will barely lend money to Americans these days. We weren’t able to get a mortgage, even with 60%++ down.

Now, if a bank would have been dumb enough to let a foreigner take out a 95% mortgage then I don’t see why that foreigner should get judged any differently for walking away than a local.

There are more people in California than all of Canada, so I think I can say with confidence than things would have to be pretty bad for a few defaulting canadians to push you over the brink.

[quote=masayako]
Imagine an extreme scenario, let’s say a foreign RE investment group buy all the rental apartment complex near SDSU, and then raise rent by 20%. We would have a rental shortage near SDSU instantly and local students would need to pay more to be able to live near the school and have less money to spend on other items.[/quote]

Umm, if the market near SDSU would bear a 20% rate increase, why isn’t the current landlord doing that? What does this have to do with foreign investors?

[quote=masayako]
Just look at Vancouver, people from Hong Kong ‘invest’ in it and now they are the biggest landlord in Vancouver. What happened next? Housing price tripled. Local buyers forced to move out from the good neighborhoods in Vancouver to somewhere remote.
[/quote]

I don’t know Vancouver well – and honestly, even Canadian press seems to think its in a huge bubble. That said its also probably the nicest place in Canada to live (mountains, ocean, fairly temperate…. like san diego but lots more rain!) but Toronto is an amazing multicultural city and never once have I heard anyone curse all the foreigners. They are a big part of what makes Toronto .. well, Toronto.

We love San Diego – we’re coming up on the end of our first year here and have made lots of great friends. Our kids love their schools, the weather is great, and people love to come visit. I like to think we’ve been a positive addition to the area.

(also worth noting that I think our house was forsale for 2 years before we bought it … so I don’t think there’s an argument that we stole it away from some local buyer!)

[70Degrees]

[quote=masayako]Thanks to our U.S monetary policy and bail outs, the foreigners are all taking advantages of our Real Estates market. We hardworking money savers are screwed.[/quote]

Maybe I’m misreading something, but I think you are implying that foreigners (e.g., me) buying real estate in the USA is a bad thing and somehow we are screwing you.

It seems to me that for every buyer there is a seller, and I don’t know about you but whenever I’ve been a seller I’ve been very very happy when the house is sold, and really I could care less who it sold to. The foreign buyers are increasing the buyer pool and hence causing houses to sell quicker.

Every foreigner buying means an influx of cash into the local economy both from the sale (full value, not just RE fees!) AND from all the other things that go along with a house purchase. This is in contrast to a local selling one house and buying a new one where the net contribution would be much smaller.

[70Degrees]

[quote=masayako]Thanks to our U.S monetary policy and bail outs, the foreigners are all taking advantages of our Real Estates market. We hardworking money savers are screwed.[/quote]

Maybe I’m misreading something, but I think you are implying that foreigners (e.g., me) buying real estate in the USA is a bad thing and somehow we are screwing you.

It seems to me that for every buyer there is a seller, and I don’t know about you but whenever I’ve been a seller I’ve been very very happy when the house is sold, and really I could care less who it sold to. The foreign buyers are increasing the buyer pool and hence causing houses to sell quicker.

Every foreigner buying means an influx of cash into the local economy both from the sale (full value, not just RE fees!) AND from all the other things that go along with a house purchase. This is in contrast to a local selling one house and buying a new one where the net contribution would be much smaller.

[70Degrees]

[quote=masayako]Thanks to our U.S monetary policy and bail outs, the foreigners are all taking advantages of our Real Estates market. We hardworking money savers are screwed.[/quote]

Maybe I’m misreading something, but I think you are implying that foreigners (e.g., me) buying real estate in the USA is a bad thing and somehow we are screwing you.

It seems to me that for every buyer there is a seller, and I don’t know about you but whenever I’ve been a seller I’ve been very very happy when the house is sold, and really I could care less who it sold to. The foreign buyers are increasing the buyer pool and hence causing houses to sell quicker.

Every foreigner buying means an influx of cash into the local economy both from the sale (full value, not just RE fees!) AND from all the other things that go along with a house purchase. This is in contrast to a local selling one house and buying a new one where the net contribution would be much smaller.

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