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an
ParticipantI just locked in at 3.125% 30 years fixed 2 weeks-ish ago at almost no cost ($1900 in credit, lender fee of about $1100 and 3rd party fee of about $1100). So, my net cost to do the refi is ~$300-400. At the time, I could have gone up to 3.25% and get $2400 in credit, 3% with ~$900 in credit or 2.875% with a few $hundred in cost. I chose 3.125%. My current rate is 3.325% from about 4 years ago.
Participant[quote=TheBrianNarrative]Say the low education coastal elite from the sun belt that has spent much of the last decade complaining about his tenants and his neighbors
My last tenant stayed eight years. Never late once. Only thing I ever had to do was help Her once or twice when she locked her self out. Property almost tripled in value and rent return was 20% on down payment cause I never raised the rent. Could’ve been higher but she was helping support her mom and I like that so I never raised it.[/quote]
I’m with you. Time is money. The less time I have to spend on managing my rental, the better. I find SFR tenant so far to be much better to deal w/ and they don’t call you for the little stuff. One of my tenant ask if they can replace the window AC by themselves.I have a great single mom tenant who has been in the house for 8 years now w/ the same rent. She’s now about 20% below market rent. I would have kept the rent the same the next time her lease renewed, but with the new rent cap law, I have to raise it a little. Still below market rent, but have to keep it not too far bellow.
Participant[quote=TheBrianNarrative][quote=FlyerInHi][quote=TheBrianNarrative]Ok you roll the dice in Vegas. We’ll see how that goes the next few years[/quote]
Flu, you do realize that Vegas was discounted 70% from previous peak and has not recovered yet? A friend bought a place in 2006 for $360k. He recently sold for $320k.
He lost bigly. That’s why one needs to time it right with recessions.I don’t even like Vegas. But I invested there for the money. It’s an ugly sprawling city but It’s a top 10 metro where people like to live and visit. Yes, it’s gentrifying. A condo downtown is worth more than a house in the best suburbs.
When I’m old, I’ll take my USD rental income and travel the world. I can rent in places like Berlin where it’s cheaper to rent than to buy. Plus that gives me flexibility to go where I please.[/quote]
A friend…..uh ….ok[/quote]
LoLParticipant[quote=ltsddd][quote=ltsddd][quote=sdduuuude]I am not sure how anyone can say that the government is late in dealing with this
[/quote]You answered it yourself here.
[quote=sdduuuude]I also read an article today that said there are 1200 COVID-19 test kits for all of San Diego.
[/quote]We were lucky this thing started half the world away. China’s locking down wuhan and nearby provinces also helped slowing down the spread to other areas (including the US). Why are we still woefully lack of the test kits 3 months after the outbreak in China?
And perhaps we have such a low rate for the coronavirus has a lot to do with that’s because we’re not doing the tests?
[quote=sdduuuude]
The measured death rate is 3% or so. CDC or WHO estimated the actual rate under 1%. Could be much, much lower, in reality.I put those together and it sounds like just another flu to me.
[/quote]1% is widely cited as the death rate for the corona virus vs .1% for the flu. The contagiousness of the coronavirus is 2-3 vs 1.3 for the flu. Taking those together we’re looking at, using 2018’s # for flu cases in the U.S.:
flu:45 million sick, 61K deaths
corona (projected): 70-100 million sick, 700K – 1 million deaths
Those are staggering numbers.[/quote][/quote]Darwin suck. Spd must be loving this. This is population reduction he has been wishing for. It’s also helping with climate change as well. Smog is decreasing in Italy and China.
Participant[quote=Coronita][quote=Hobie]CDC is recommending schools stay closed for 14 days. This is the approx incubation time. But with last weeks sudden rise in infections I’m guessing they will restart the 14 day clock to next week. So 3 weeks from next Mon 3/16/20.
Some school districts are already doing this be moving spring break up to give them 3 weeks of closure.
I’ll bet schools will resume 4/6.. ..unless we are all dropping like flies.
https://www.cdc.gov/coronavirus/2019-ncov/community/schools-childcare/schools-faq.html
https://www.jwatch.org/na51083/2020/03/13/covid-19-incubation-period-update%5B/quote%5D
Most school districts in SD aren’t reopening until 3/27 at the earliest.
San Diego and San Dieguito Unified all set the back to school day at 3/27, at least. This is one week before Spring break. They said they can update this to move back more.
Poway Unified isn’t retuning back until April.
Ironically during this time, a lot of college students and substitute teachers have been advertising “hi, I’m XYZ, and if you need help with daycare, I can watch your children for you .. .” And then proceed to say they can take up to 5-10 kids at their house.
I thought the entire point of social distancing is to minimize contact from people we don’t know.[/quote]SDUSD is back on 4/6.
Participant[quote=spdrun]What’s wrong with loving beautiful things like trees and trains more than ugly people who bully, jail, murder, maim, and do ugly things to other people? I’m not ashamed that I love things, public things like nice, clean, electric trains to ride on and trees in national parks.
Civilized countries use collective money to build things and structures that improve their own residents’ lives. Parks. Trains. Nuclear power plants. Healthcare systems. Universities.
The only things this nation (as a whole) can agree to pay for are things meant to hurt other people. Prisons. Bombs. Guns. Bombers. Missiles. It says a lot about this culture that people are oh so offended by a “fuck”, “shit”, or the image of a nipple (the original fountain of life) while spending half a trillion a year on institutionalized, organized violence.[/quote]
So, what you’re saying is, the US should have just stayed home and let Hitler ruler Europe? Maybe they’ll still have Parks. Trains. Nuclear power plants. Healthcare systems. Universities.Participant[quote=FlyerInHi]Don’t I get any “moving target” leeway? I will give you that the bottom in San Diego was 2009. But the housing market is not San Diego only.
The topic of the thread is the housing market, not San Diego specific.[/quote]
Again, no one cares about “the housing market” as a whole, except for economist and armchair economist. Everyone else only care about the housing market in the area they want to buy.Participant[quote=FlyerInHi]The bottom is the topic. When it made sense to buy vs rent is a different topic altogether. You could also be buying for investment and timing your purchase according to your means.
I would argue that the consensus is 2012 as the bottom for the housing market. 2009 is just too soon after the great recession.[/quote]
Consensus is not data. Both Rich’s and Case-Shiller data say otherwise. Who cares what consensus is.Participant[quote=FlyerInHi]Thanks for looking it you AN. I went by recollection. Now am I am allowed the “moving target” argument?
There another high tier CS. I guess your house is not that.
https://fred.stlouisfed.org/series/SDXRHTNSA%5B/quote%5D
Seasonally adjusted
https://fred.stlouisfed.org/series/SDXRHTSA?utm_source=series_page&utm_medium=related_content&utm_term=other_formats&utm_campaign=other_formatEven on the high end, if you were renting, it was still better if you bought in early 2009.
Participant[quote=FlyerInHi]
If you have a problem with Case Shiller, contact S&P and tell them about your house. [/quote]
Like I said, only economist and armchair economist care. I don’t care. As long as I catch the bottom of the area and type of house I want, then that’s all that matter. I and everyone else don’t buy a San Diego or US house, we buy a house in a zip code in a certain condition we want. So, the statistical bottom is irrelevant to all except for economist and armchair economist.However, even w/ Case-Shiller, it’s not 2012: https://fred.stlouisfed.org/series/SDXRSA
[img_assist|nid=26980|title=Case-Shiller|desc=|link=node|align=left|width=100|height=53]Participant[quote=FlyerInHi]No.
Case Shiller adjusts for house quality.
The lower initial ppsf for the region are a reflection of the lower quality homes that crashed first.If you don’t accept Case Shiller as the definitive answer, then that’s just you. Take it up with Standard & Poor’s[/quote]
Quality of home is not the same as zip code or property type. Do you understand the difference? If not …Participant[quote=FlyerInHi]AN. when you bought has nothing to do with the bottom.
You found a good house, I’m happy for you. But it has nothing to do with when the bottom occurred in 2012.[/quote]
Data… yep, those pesky thing.Participant[quote=FlyerInHi]Actually, AN, you’re wrong. You found that chart and you seize on it to prove a point which you rejected earlier.
Case Shiller says the bottom is 2012. Case Shiller adjusts for house quality. If you’d recall, the argument was that the shithole houses would fall first and the more premium houses would fall later.
Hard to believe that some of you want to relitigate something that’s already been settled![/quote]
You’re right. Bottom was Jan 2012. So I bought too early. Suck to be me. You must have bought a few in 2012, right?ParticipantSo, who shorted the market 2-3 how ago?
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