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CoronitaParticipant[quote=ocrenter]Would just buy the individual muni bonds, why buy the funds? What’s the rate?[/quote]
CoronitaParticipant[quote=SK in CV][quote=flu]Gold just broke through $1300/ounce overnight and hitting 2 years high at $1315/ounce. This is insane. Almost a $115/ounce change since end of may when Fed spooked the markets..[/quote]
And now down $33 from that high point. There’s an awful lot of resistance at $1300. Same for silver at $17.50. /pl is in it’s own little world.[/quote]
Yeah no kidding…for something that is suppose to be a good wealth preserver it sure is volatile today. I was hoping by me talking about gold being at a high price, it would jinx things and he price of gold corrects a bit. I was more concerned that the stock market was going to have another bad down day, lol.CoronitaParticipantGold just broke through $1300/ounce overnight and hitting 2 years high at $1315/ounce. This is insane. Almost a $115/ounce change since end of may when Fed spooked the markets..
CoronitaParticipantWell, I’ve been buying platinum coins and gold the week after the fed spooked the precious metal markets… I don’t have space for silver….Those bank safeboxes are only so big, and I don’t trust putting everything in one lockbox.
And imho, it’s a bad idea to leave things at home.
I guess I’m also hedging against a trump win, which although probably won’t happen, if it did, it would probably sink the economy. heh heh. 🙁
The ebay coin dealers are getting smart and have started to remove gold coins as coins that qualify for the eBay bucks programs…..So you no longer get $100 off for each ounce of gold, unless you decide to buy “random year” coins, which I don’t like…Platinum,however, have not been removed, but there’s like a $150 markup over spot. So buying it with eBay bucks, is like buying $50 over spot. Percentage wise, it’s still better than the markup of silver…But I guess silver is more popular, since it’s cheap.
CoronitaParticipantOP should be thankful he can qualify for direct cheap fixed rste loans. Many people can’t and that’s why they are stuck. Some people can’t buy their first home because they can’t qualify and some can’t refinance because they can’t qualify. So if the OP can qualify, I’d milk it for what it’s worth while you still can.
There is always a greater fool that you think you are. Just as long as you can outlast the other fools financially.
CoronitaParticipant[quote=profhoff]It seems one argument against high prices reflecting a bubble is if buyers are owners as opposed to speculators, investors, etc. So just the other day I was talking to a colleague who lives in Del Mar and he told me that in the past few weeks two buyers came in and paid stupid money priced in cash for nearby houses. One was from Taiwan and one was from Brazil and neither are going to be owner occupiers.
This surprised me because we know this is happening with real estate in NY, SF, Orange County, parts of LA, but I didn’t realize it was happening here in the village of Del Mar.
So, that helps to explain the crazy increases in list price and adds to fears that normal people are being priced out. I can’t compete with foreign cash.[/quote]
You don’t need to compete against foreign cash because foreign cash is only about a 1/3 of these purchases. Maybe more for higher end. But not that much more.
And one thing for certain, U.S. is probably the safest place to park money. Everyone knows that.
I think even the Swiss have negative interest rates, right?
CoronitaParticipantYou guys want to talk about inflation,
A new 2014 911s was selling for $95k
A 2017 911s STARTS at $104k and comparably equip, is closer to $115kA new starter BMW 330 with a 4 cylinder engine can put you back around $50k.
Now that’s insane.CoronitaParticipantListen dude… You have a choice in life. You can choose to be financially responsible or choose not to….It’s a matter of personal preference…If you choose to live like a miser and try to be smart with your money, don’t complain if later on, people want to redistribute your earnings/savings or people who choose to buy things that are nicer. There are a lot of people that was hell bent on “moral hazard” in thinking those folks who are not as financially responsible will eventually “get what’s coming to them”…Sadly, these where the same folks that ended up sleeping though the biggest real estate firesale in history and they were really disappointed.
If you really think some of your peers have it so much better, than the choice is obvious…Be more like them. Frankly, if you can get away with a 3.5% down loan that is also a fixed rate, why wouldn’t you do it? Sure beats paying rent, and with only 3.5% down, you have very little skin in the game to lose. Heck, I would do it if I could. It’s not about total outstanding debt, it’s about your monthly debt load relative to your income and about your monthly expenditures as an owner versus a renter.
Savers always lose… That 1%CD sure sucks…The good news is since your in your late twenties, you are learning this lesson fairly young so you can still recover from it. And you’re not alone, maybe people learned that lesson much older than you. In fact, there’s probably a few really old people on this blog that still haven’t learned this lesson…
And being that you are young, why would you want to buy a condo with all cash? Lpok around. Microsoft is buying LinkedIn for $26 billion. Microsoft probably has over $100billion in cash… And yet they are financing the purchase… Have you considered why???? It’s because money so cheap to borrow right now….Why would you use your own money to buy at this point, especially if you are young and trying to build your nest egg. I congratulate you on your $250k savings at such a younger age, your’e doing much better than most americans…But giving you a little tough love, if you don’t learn how to invest that money, that isn’t going to be a heck of a lot, especially in CA. Personally, if I were your age, I would NOT pay all cash for a house. I’d put as little down as you can get away with, and use as much of the bank’s money as possible such that your payments are roughly in line with how much your rent would be..Then, as an added bonus, you get a nice mortgage interest rate deduction and property tax deduction (assuming you aren’t hitting AMT on the later), that will make your payments lower than your rent.
Then I would take whatever is left of your $250,000 and learn how to invest that money very well… Paying cash for a townhome and leaving you with very little cash, imho would be a bad idea, since IF home prices did correct, you just lost your own money. Versus, if you took out a loan, while you lose out on the value of your house, your payments are the same, and the banks end up eatting it when interest rates eventually rise.
This is the opposite of what I would do if you’re instead 40++ and just want to live worry free, with a paid off home. You’re young, you can afford to take some risk. And quite frankly, there is no reward without some risk taking….
There is no politician, government, political party that is ever going to “fix” this american problem. This is how a good portion of the people in our country behave. You are in the minority. So, rather than get all mad about it, figure out how you can profit off of this.
CoronitaParticipantWell to be fair. Poway probably isn’t the only district that has this problem. And when people didn’t want a tax increase to fund public schools, the district did get creative and kept its promise of no tax increase for current owners. Reality is that this won’t be a problem for another 20-30 years. So it’s not likely going to be your problem….I wouldn’t worry about it. Plenty of time for your kids to graduate and for you to cash in and move somewhere else just in case this does become a problem. Reality is , when the bill comes due, and it can’t be paid, it will probably be negotiated down somehow. Again, not your problem…public financing is great. It makes no sense whatsoever and yet magically things always get.modified and taken care of by itself.
CoronitaParticipantSo what is the latest on the solar credits. I was talking to someone in the park today that mentioned that while the old program of sdge paying you for unused generated electricity has expired, there is a new 2.0 program that is just as good.
I am tempted to consider solar if prices have fallen.
CoronitaParticipant[quote=ltsdd][quote=flu]Found it… We discussed it here awhile ago, back when more of the discussions were more useful. Not sure if it’s relevant or not to this topic.
http://piggington.com/powaythe_real_debt_bomb
It does seem strange that the MR payoff seems so jacked up right now. I’m not suggesting something fishy is going on, it just seems a little odd that the difference now and a few years ago would be that large.[/quote]
I wonder what really happened with this bond. The damage hasn’t shown up on my tax bills, yet.[/quote]
Well it’s not due for awhile :)… I don’t know.
CoronitaParticipantFound it… We discussed it here awhile ago, back when more of the discussions were more useful. Not sure if it’s relevant or not to this topic.
http://piggington.com/powaythe_real_debt_bomb
It does seem strange that the MR payoff seems so jacked up right now. I’m not suggesting something fishy is going on, it just seems a little odd that the difference now and a few years ago would be that large.
CoronitaParticipant[quote=FlyerInHi]Wasn’t there a financial scandal at PUSD?[/quote]
It’s not a “scandal” exactly. But it was about I believe a “debt bomb” wrto debt the school borrowed at a extremely inflated interest rate…..Let me see if I can dig it up.
CoronitaParticipantJust curious. What school district is del Sur in?
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