[an]

[quote=flu]Millenials work?

That’s news to me. In between the ones that majored in something like underwater basket weaving, and the other ones that would rather attend OWS protests, the remaining ones with any shred of work ethics all want to be managers fresh out of school with no experience because they feel they are entitled to….

So I think wanting to buy a home is the last thing to worry about that generation[/quote]
Talking like a true X’er looking down on us Millenials. I guess the circle I’m running with are the minority. Us Millenials are holding titles anywhere between Sr. S/W or H/W Engineer and Engineering manager, optometrist, doctor, pharmacist, etc. Most of us actually own our house and some are looking for rentals.

I totally agree with FSD though. If this article is true, it would be great for people who are looking for rentals right now.

[an]

[quote=SK in CV]Typo. Yes, half plus 1 of 538. It’s 270. Irrespective of how many candidates. Goes to the house, the house decides. And as a practical matter, even if RP got 250, the house wouldn’t vote for him.[/quote]
Good to know, thanks. I always thought it’s 270 because that’s majority for 2 parties system.

[an]

[quote=SK in CV]Oh markmax33, what are we going to do with you? He doesn’t need 34%+, he needs 290. Just like every elected president in the last 50 years. I thought the constitution was important to you.[/quote]
I thought it’s 270. Since there’s 538 electorates and there are currently only 2 real parties, to get the majority, it’s 270. If you don’t get 270, then the 12th amendment kicks in and the House decide the winner. What we never had was a viable 3rd party candidate. What would happen if one get 181, one get 180, and one get 177? Does it still go to the House or does the one with the majority (181) win?

[an]

[quote=Jacarandoso][quote=AN][quote=Jacarandoso]AN, I was not playing financial advisor with my friendly wisecrack that rates are near 4% for 40 years. I was replying to the notion of taking as long as one can to pay the money back at around 4%.

Your post was different regarding aimloan rates for 30 and 40 years,at least for what I saw, so I cleared that up.[/quote]
You’re right, with the right lender, you can get near 4% for 40 years. Aimloan doesn’t have the best rates but it’s the easiest to get rate from for an average person.

Btw, what are your rates for 80% ltv vs 69.5%?[/quote]

Thanks, AN

At 500k purchase and 400k loan I get 3.875 for 30y and 4.5 for 40y at nearly same costs, using aim loan again.[/quote]
I see. If you’re using aimloan like me, then our disconnect is the cost. The rate I mentioned was $0 cost to a little credit.

[an]

[quote=Jacarandoso]AN, I was not playing financial advisor with my friendly wisecrack that rates are near 4% for 40 years. I was replying to the notion of taking as long as one can to pay the money back at around 4%.

Your post was different regarding aimloan rates for 30 and 40 years,at least for what I saw, so I cleared that up.[/quote]
You’re right, with the right lender, you can get near 4% for 40 years. Aimloan doesn’t have the best rates but it’s the easiest to get rate from for an average person.

Btw, what are your rates for 80% ltv vs 69.5%?

[an]

[quote=Jacarandoso]I get 3.75 for 30 years and 4.35 for 40 with the same closing costs on aimloan. 417 loan on 600k purchase w/impounds and above 740 credit.[/quote]
If my calculation serves me right, the monthly difference in payment is ~$100/month. I still think that’s not substantial enough to go another 10 years. Between 15 to 30 years, going an extra 15 years is a difference of ~$800/month. That’s worth it. Now, if the payment difference is ~$500/month, then I’d totally jump on the 40 years deal.

[an]

[quote=jimmyle]Generally true but the return from CDs and stock markets have been terrible lately.

[quote=pri_dk]If someone was willing to loan me money for 30 years at a rate less than 4%, I wouldn’t pay them back any faster than I had to.[/quote][/quote]
True, but do you expect it to stay terrible over the next 30 years?

[an]

[quote=Jacarandoso][quote=AN][quote=pri_dk]If someone was willing to loan me money for 30 years at a rate less than 4%, I wouldn’t pay them back any faster than I had to.[/quote]
I totally agree.[/quote]

40 year mortgages are is pretty close to 4%.[/quote]
According to aimloan, $0 cost 40 years is ~5%, 30 years is ~$4.25%, and 15 years is ~3.5%. The decrease in monthly payment between a 30 and 40 years is not that big though, so it become not worth it to get the higher cost 40 years loan. For a max out conforming loan of $417k, you’re looking at a decrease of only ~$50/month vs ~$800/month between a 15 and 30 years.

[an]

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[an]

[quote=pri_dk]If someone was willing to loan me money for 30 years at a rate less than 4%, I wouldn’t pay them back any faster than I had to.[/quote]
I totally agree.

[an]

[quote=briansd1]AN, I agree with the wiki definition.

On the accumulation of capital part, nowhere does it say how much, as in what amount or percentage of the economy.

The main feature of capitalism is money lending or leverage in excess of the funds you actually have to acceralerate (bring forward) consumption and/or investments to create wealth.

I think that real capitalists would want to manage society’s money to create maximum wealth for the whole population. It would be a waste not to deploy capital to get idle resources working.[/quote]
So, who get to dictate where the capital get deployed? If your goal is accumulation of capital and in high risk time, wouldn’t it be prudent to hoard you cash waiting for the bottom? Isn’t that what a lot of smart home buyers did by not buying in 2005 and waiting at least to 2008 if not longer? You don’t see a limit of capital accumulation, because there shouldn’t be one. You can accumulate as much capital as you want.

[an]

[quote=briansd1]Isn’t that what capitalism is all about? [/quote]
According to Wiki, capitalism is: There is general agreement that elements of capitalism include private ownership of the means of production, creation of goods or services for profit, the accumulation of capital, competitive markets and wage labor.

[an]

earlyretirement, I think it all comes down to the fact that those two areas attack different price points and buyers. So you can’t really compare to the two, since they’re like comparing apple to oranges. The $880k in Santaluz you posted would have similar monthly payment as a $980k house in 4S, due to ~$500 more in HOA&MR. I don’t think most houses in 4S are in that price range. Most of the houses in 4S are in the $650-750k range. That would yield similar payment as a house in Santaluz in $550-650k range (assuming there is such a house), due to the HOA&MR differences.

This is what’s available in 4S for similar payment as your $880k example:
http://www.sdlookup.com/MLS-110061379-92127
http://www.sdlookup.com/MLS-110057354-16022_Palomino_Valley_Rd_San_Diego_CA_92127

Sold comps:
http://www.sdlookup.com/MLS-110043359-16138_Palomino_Valley_Rd_San_Diego_CA_92127 (This house is over 1000 sq-ft larger and seem to be sitting on a larger log too). Also, this one has a view while the Caminito Lazanja doesn’t.

[an]

[quote=earlyretirement]I just will never understand the logic of spending a million bucks there in Carmel Valley with houses piled on top of one another vs. other areas. [/quote]
Could it have something to do with the Zipcode? I mean, Santaluz is still only 92127.

[an]

[quote=walterwhite]I don’t think it’s the showing up per se, but a feeling of healthy connectedness. Showing up might be part of it but it could manifest in other ways. I can’t help believing that really listening to kids and connecting with what’s going on in their heads is probably predictive of better outcomes.[/quote]
I totally agree. I didn’t mean as literal as just showing. I mean everything that goes along with parents that show up. If you’re too busy to show up, you’re probably too busy to connect with your kids, etc. I don’t know the exact relation of SK and his kids, but seeing how he actually take the time to show up for his kids events means he would have more than enough time to be there for his kids when they need him.

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