[Coronita]

Again, you’re trying to justify your decisions you made 10-12 years ago by trying to pretend to be an economist.

Reality dude is that you’ve been on the fence since 2010-2012. The average amount you paid for rent is probably around $2000/month for the past 10-12 years, give or take. So that’s $240,000 you’ve been sending to a landlord.

$240k is halfway to what paying off a nice 2/2 townhome in 92130 would have been that is now $800k+.

$240k would have paid off a 2/2 condo in 92126 with change left over, and you would be free clear with no other major housing expense forever, and you would have had around $200k additional equity on top of that.

Forget about appreciation, you’re housing costs would have been fixed and even gone down as you refinanced…Even folks that overpaid and bought in the worst times in 2004,5,6,7 but were able to hold on and keep their primary would have been fine.

Eventually, whenever you buy, the total amount will have spent on housing in general is at least $240k more than anyone else that needed housing since 2010-2012 that purchased anywhere along that time, and give or take another 2-3 year’s that you’ll be waiting, that grow to $288k-$312k or more from rent. This is different for folks that are just starting out and weren’t old enough to buy back then, but you’ve been around the block since 2000 as you say since you were a dot.com worker, so you’re no spring chicken.

Let that sink in. It doesn’t matter how you slice and dice it. That’s reality. So, understandably, that’s why you’ll need a steep discount even to break even.

[Coronita]

did you see the post above yours from an Amazon recruiter… Just wanting to make sure you saw it. We know you like to remain silent when something comes that contradicts your posts….

But please switch back to the stocks and stocks going down.. We need that contrarian rally.

Meow!

[Coronita]

I don’t disagree rising rates would slow things down and might even seen some price decrease. But how large, not huuuuuge. But if it does happen…Sign me up for more rentals….

[Coronita]

[quote=sdrealtor][quote=Coronita]sdr… Just stop…..

Stop your meow-splaining….[/quote]

But cats are the better investment. Meow

https://on.mktw.net/3rgSyUI%5B/quote%5D

Yes, but cat food is not a good indicator of inflation. The average rate of cat food increase is only 1.97% annually since 1997.

https://www.in2013dollars.com/Pet-food/price-inflation

And i’ve said this years ago. Sees Candies gift certificates are great inflation hedges. The cost of 2 lbs of Sees Candies is ridiculously expensive now.

[Coronita]

[quote=deadzone]FLU, stop making up shit about me and trying to extrapolate. I never said I stopped working in tech in 2001, I worked in tech several years after that.

And SDR I didn’t make up anything. People in RE industry got destroyed in 2008 and they will again. Sorry to burst your bubble. The fact that you are so defensive about this topic tells me all I need to know.

It’s just funny how pathetic the piggington site has become. The original main topic of the site was the housing bubble of the 2000s that there was a lot of open debate about it. Now we are in the mother of all bubbles, it is bursting right before our eyes, and all you have on Piggington are real estate hacks who attack and bully anyone who dares question the narrative that RE only goes up. Truly Pathetic.[/quote]

Lol, but you’re the one posting all this doom and gloom, and selectively 1 news article to support all your theory but then ignore everything else that contradicts what you post. You posted about amazon going back to the office, and I posted you recruiters and higher teams from amazon stating explicitly the opposite, and then you go silent…

The market goes up, you go silent. The market goes down, you come out swinging…The markets go back up, you go silent again. And you post about how screwed over people are going to get, who have fixed cost of living costs, when reality is you’re getting screwed over right now by inflation and variable living costs, that will probably keep going up too and that magically you’re going to be somehow in a much better financial situation than others if a catastrophic storm occurs. I get it, you feel you have to be right, because you pretty much banked your future on your convictions. Others didn’t choose that one-shot , one hit gamble approach…Too risky… Like I said, really good luck to you.

What’s really funny is you feel you need to be right. I don’t htink anyone else on this thread or any other thread you started feel we need to be correct…because whether we are right or wrong doesn’t materially change our financial situation one way or the other. I’m not married to my opnions nor banking all our financial future on my opinions or dependent on being 100% correct.But you sure seem like you need to be correct and smarter then everyone else. Which i think is really odd and funny. It’s as if you’re using piggington blog like group therapy to justify your decision and looking for some sort of validation of your direction and you’re not getting much validation, and you’re all butt hurt over it.

And yes, taking seriously financial advice from a blog section on the internet is very very risky. For example, if folks listened to you and didn’t buy anything 10 years ago, they would be in a situation right now of having paying rent more than mortgages on a sub-3% 30 year….times 10 years of payments to a landlord and missed out a great opportunity of a lifetime to fix the cost of a significant portion of one’s living expenses and achieve financial independence sooner….

Thank god I am too dumb and didn’t understand 90% of the content in the blog section. Dumb for the win.

[Coronita]

sdr… Just stop…..

Stop your meow-splaining….

[Coronita]

Dz you misquoted what I said. I never said only low performers get laidoff.

I specifically said during the dot com.days, a lot of people who aren’t really tech skilled … got tech jobs in shitty startups…and when dotcom blewup those people were forced out and neverfound tech work again.

You might not have been laidoff explicitly, but given you never returned back into tech , I think you probably were were in category of transitory temporary tech worker, employed by no offense a shitty startup that was just looking for bodies, which doesn’t really represent the tech community….companies like pets.com that felt sending a 40lb bag of dogfood throught FedEx was going to revolutionize pet industry and challenge brick and mortars. Or carorder.com that sold cars with a $7000 subsidy for the right to be their repeat customer on their website….lol… If that was the extent of your experience with tech, then that says a lot about your viewpoint of tech and the tech industry. For starters, chances are the scrapy startup you worked isnt really tech or tech work and isn’t representative of the quality tech
companies, just scratching the surface….And if your generalizations of tech industry is based on your limited experience of scrappy startup that is similar to pets.com, well that’s a pretty ignorant understanding of everything else.

Also, actually had the skills to work in tech and if you sat out of tech since 2001, the clearly you missed an opportunity of a lifetime there too because truely skilled tech workers might have temporarily lost their jobs in 2001/2,t they were able to find something better along the way and killed it. Only people who weren’t skilled and had no business being in tech couldn’t find something better post 2001. So if you had the skillset and simply sat out, that’s on you because chances are you are now too old to be taken seriously in tech if you haven’t kept current so that entire vertical is no longer available for you. Age discrimination is real in tech.

Is that what happened? You had a bad experience at 1 shitty startup, decided to get out of tech. Sat out for next few years, and upset that those that stayed say really great growth this past decade and youissed the boat?

[Coronita]

[quote=deadzone][quote=Coronita]Dz, if the economy is so bad that housing falls back to pre pandemic prices, I’m fairly confident you will unemployed and unable to qualify a loan to buy a house. And, if in the unlikely chance you have cash to buy a home outright, I am pretty certain you would be overcome by fear and buying a discounted house would be the last of your priorieties,versus others who are no longer fully dependent on a regular paycheck. That I’m pretty confident of.

That, and I’d be more concerned s out inflation in daily things such as food and rent which would be slowly eroding one’s wage income which clearly never keeps up with inflation.[/quote]

So you really believe that housing prices correcting back to where they were just 2 years ago, would be so catastrophic that everyone would lose their jobs? I don’t know anyone who lost their job during the “Great Recession”, did you?

Your attitude makes it clear that you believe, even more than I, that our entire economy is reliant on housing wealth effect.[/quote]

Bookmarked. No, that’s not what I said. I believe the only way that housing would correct back to pre pandemic levels is of the entire economy collapses such that the majority of the population are unemployed and can no longer afford to make their regular mortgage payments and need to prioritize spending spending money on basic necessities….housing collapse would only be a side effect of a larger catastrophic problem….and such a catastrophic economic demise would certainly drastically affect you who still are primarily dependent on wage income on top of increase cost of living and rising cost basic necessities that we have right now from inflation that is slowly eroding what you and everyone else is taking home to save for a house or invest otherwise…and since housing is still a good portion of your expenses and in your case it’s also a variable rate , a sudden catastrophic job loss would still leave you significantly exposed to your larger cost of living expenses that now has to be funded completely from your savings….that’s why I say be careful what you wish for

[Coronita]

Dz, if the economy is so bad that housing falls back to pre pandemic prices, I’m fairly confident you will unemployed and unable to qualify a loan to buy a house. And, if in the unlikely chance you have cash to buy a home outright, I am pretty certain you would be overcome by fear and buying a discounted house would be the last of your priorieties,versus others who are no longer fully dependent on a regular paycheck. That I’m pretty confident of.

That, and I’d be more concerned s out inflation in daily things such as food and rent which would be slowly eroding one’s wage income which clearly never keeps up with inflation.

[Coronita]

[quote=deadzone]
I don’t need to take your wager. The fact that you (and others like you) will take a 50% haircut in your wealth is all the satisfaction I need.[/quote]

Wow, I don’t think anyone else wishes you to eat shit. But now it’s pretty obvious where the sour grapes and ax grinding is coming from.

Sorry you feel compelled to base your major financial decisions on your Schadenfreude tendencies and that gets in the way of objectivity. I don’t think the rest of the world feels it’s a zero sum game the way you do. Good luck to you 🙂

[Coronita]

[quote=deadzone]
Difference is crazy inflation hurts mostly poor and working class. Housing/stock crash hurts mostly wealthy, and wannabe wealthy pricks.[/quote]

Hate to break the news to you. Neither inflation or a stock market crash really hurts wealthy people. Most wealthy people aren’t speculating on 1-hint wonders and derive all their wealth from 1 specific source. And in many cases, they are hedged against single points of failure.

All jokes aside… You really think that a single correction in 1 stock is going to make a material difference in someone’s finances that they’ve planned 10,15,20+ years? Most of these people are not counting on growing wealth on one hit one shot wonders…Which is why on the other thread, I found it interesting that you took up specific short positions in specific companies it sounds in a sizable manner that materially will impact you financially. That’s a pretty risky move that I wouldn’t personally want to gamble my financial future that way. You need to be right fairly consistent to come out ahead. Me, I can be wrong many times and still come out ok…That’s the difference. I’m guessing that’s why you feel you need to prove you are right most of the time, and not the path I would choose to try to build wealth. The probability of you being consistently right in order for your outcome is pretty low, no offense. If you were that good, you would be working for one of the big i-banks as trader making a shitload of money.

If in doubt, just ask flyer. I’m sure he’s laughing his ass off about this post
[quote]
“Housing/stock crash hurts mostly wealthy, and wannabe wealthy pricks.”
[/quote]

Wealthy people don’t count on the retail stock market to derive most of their wealth.

[Coronita]

For me, tinkering and working with my hands is therapeutic, as trivial as it is. It’s a challenge, there’s a clear goal, and forces me to problem solve, and when successful- a sense of accomplishment, as trivial as it may be. And if I fail miserably doing it, there’s always the cheat sheet way: buy a replacement or pay someone else to fix my mess (and get my money’s worth).

Hobbies help.

[Coronita]

[quote=sdrealtor]When I see that word this is all I can think of

https://youtu.be/hElOag-1a0k%5B/quote%5D

I miss Sean Connery

[Coronita]

[quote=deadzone]Yea, Nail is up like 1% today. Meanwhile interest rates continue to surge, just not a good scenario for homebuilders and tech stocks.[/quote]

Well, it was up 8%. We just needed you to come back and comment about it going down before market closes. Just like Pfizer…lol…

[Coronita]

Not that daily movement matter, but dz, NAIL is up today.

Can you continue to cheer for it’s demise? need your contrarian magic.

Thank you about Pfizer, btw

[Author]

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