[davelj]

[quote=FormerSanDiegan]

Interesting info on the new units. Do you know of any data on existing units that show any substantial increase in rents (e.g. SDAA) ?[/quote]

I don’t.

[davelj]

[quote=FormerSanDiegan]

Interesting info on the new units. Do you know of any data on existing units that show any substantial increase in rents (e.g. SDAA) ?[/quote]

I don’t.

[davelj]

[quote=FormerSanDiegan]

Interesting info on the new units. Do you know of any data on existing units that show any substantial increase in rents (e.g. SDAA) ?[/quote]

I don’t.

[davelj]

[quote=FormerSanDiegan]

Interesting info on the new units. Do you know of any data on existing units that show any substantial increase in rents (e.g. SDAA) ?[/quote]

I don’t.

[davelj]

[quote=ILoveRegulation]

How about you drink a tall glass of STFU for once?[/quote]

See: http://piggington.com/ot_a_flowchart_to_help_you_determine_if_you%E2%80%99re_having_a_rational

I realize this wasn’t directed at me (directly, that is), but… this is debate?

Weren’t you taught that once you resorted to name-calling, vulgarity, ad hominem, etc. in an argument that you had already lost it?

Please tell me this isn’t the best you can do.

[davelj]

[quote=ILoveRegulation]

How about you drink a tall glass of STFU for once?[/quote]

See: http://piggington.com/ot_a_flowchart_to_help_you_determine_if_you%E2%80%99re_having_a_rational

I realize this wasn’t directed at me (directly, that is), but… this is debate?

Weren’t you taught that once you resorted to name-calling, vulgarity, ad hominem, etc. in an argument that you had already lost it?

Please tell me this isn’t the best you can do.

[davelj]

[quote=ILoveRegulation]

How about you drink a tall glass of STFU for once?[/quote]

See: http://piggington.com/ot_a_flowchart_to_help_you_determine_if_you%E2%80%99re_having_a_rational

I realize this wasn’t directed at me (directly, that is), but… this is debate?

Weren’t you taught that once you resorted to name-calling, vulgarity, ad hominem, etc. in an argument that you had already lost it?

Please tell me this isn’t the best you can do.

[davelj]

[quote=ILoveRegulation]

How about you drink a tall glass of STFU for once?[/quote]

See: http://piggington.com/ot_a_flowchart_to_help_you_determine_if_you%E2%80%99re_having_a_rational

I realize this wasn’t directed at me (directly, that is), but… this is debate?

Weren’t you taught that once you resorted to name-calling, vulgarity, ad hominem, etc. in an argument that you had already lost it?

Please tell me this isn’t the best you can do.

[davelj]

[quote=ILoveRegulation]

How about you drink a tall glass of STFU for once?[/quote]

See: http://piggington.com/ot_a_flowchart_to_help_you_determine_if_you%E2%80%99re_having_a_rational

I realize this wasn’t directed at me (directly, that is), but… this is debate?

Weren’t you taught that once you resorted to name-calling, vulgarity, ad hominem, etc. in an argument that you had already lost it?

Please tell me this isn’t the best you can do.

[davelj]

Let’s see what would happen to rents if a large portion of the foreclosed properties in the pipeline were put on the market for rent over the next year. I doubt rents would be increasing because a LOT of foreclosed properties are going to end up as rentals.

Having said that… there sure as hell haven’t been many multi-family projects completed over the last two years, so… things could turn on a dime where rents are concerned (that is, increase).

My bank here in SD financed construction of a new apartment project in Hillcrest (about 18 months ago) that recently got completed – less than 20 units – and I remember looking at the original loan request and thinking, “These rent assumptions look 10% too high.” (We made the loan largely based on the guarantor support.) As it turns out, the actual rents are higher than they projected. Every unit is rented and there’s a waiting list 10+ people deep. Who knew? I don’t get it, but I can’t argue with the rent rolls.

[davelj]

Let’s see what would happen to rents if a large portion of the foreclosed properties in the pipeline were put on the market for rent over the next year. I doubt rents would be increasing because a LOT of foreclosed properties are going to end up as rentals.

Having said that… there sure as hell haven’t been many multi-family projects completed over the last two years, so… things could turn on a dime where rents are concerned (that is, increase).

My bank here in SD financed construction of a new apartment project in Hillcrest (about 18 months ago) that recently got completed – less than 20 units – and I remember looking at the original loan request and thinking, “These rent assumptions look 10% too high.” (We made the loan largely based on the guarantor support.) As it turns out, the actual rents are higher than they projected. Every unit is rented and there’s a waiting list 10+ people deep. Who knew? I don’t get it, but I can’t argue with the rent rolls.

[davelj]

Let’s see what would happen to rents if a large portion of the foreclosed properties in the pipeline were put on the market for rent over the next year. I doubt rents would be increasing because a LOT of foreclosed properties are going to end up as rentals.

Having said that… there sure as hell haven’t been many multi-family projects completed over the last two years, so… things could turn on a dime where rents are concerned (that is, increase).

My bank here in SD financed construction of a new apartment project in Hillcrest (about 18 months ago) that recently got completed – less than 20 units – and I remember looking at the original loan request and thinking, “These rent assumptions look 10% too high.” (We made the loan largely based on the guarantor support.) As it turns out, the actual rents are higher than they projected. Every unit is rented and there’s a waiting list 10+ people deep. Who knew? I don’t get it, but I can’t argue with the rent rolls.

[davelj]

Let’s see what would happen to rents if a large portion of the foreclosed properties in the pipeline were put on the market for rent over the next year. I doubt rents would be increasing because a LOT of foreclosed properties are going to end up as rentals.

Having said that… there sure as hell haven’t been many multi-family projects completed over the last two years, so… things could turn on a dime where rents are concerned (that is, increase).

My bank here in SD financed construction of a new apartment project in Hillcrest (about 18 months ago) that recently got completed – less than 20 units – and I remember looking at the original loan request and thinking, “These rent assumptions look 10% too high.” (We made the loan largely based on the guarantor support.) As it turns out, the actual rents are higher than they projected. Every unit is rented and there’s a waiting list 10+ people deep. Who knew? I don’t get it, but I can’t argue with the rent rolls.

[davelj]

Let’s see what would happen to rents if a large portion of the foreclosed properties in the pipeline were put on the market for rent over the next year. I doubt rents would be increasing because a LOT of foreclosed properties are going to end up as rentals.

Having said that… there sure as hell haven’t been many multi-family projects completed over the last two years, so… things could turn on a dime where rents are concerned (that is, increase).

My bank here in SD financed construction of a new apartment project in Hillcrest (about 18 months ago) that recently got completed – less than 20 units – and I remember looking at the original loan request and thinking, “These rent assumptions look 10% too high.” (We made the loan largely based on the guarantor support.) As it turns out, the actual rents are higher than they projected. Every unit is rented and there’s a waiting list 10+ people deep. Who knew? I don’t get it, but I can’t argue with the rent rolls.

[davelj]

[quote=CA renter]Like I’ve suggested before…I’m sure most public workers would be happy to roll back their compensation to 1995 levels. But in order for them to maintain their ~1995 purchasing power, we’d have to see asset prices fall to 1995 levels. That means “the rich” would take some pretty significant losses. Not only that, but we should restore ~1995 tax rates in order to correct all the imbalances as well.

In other words, let’s ALL go back to ~1995 levels.

Would you agree to those terms?[/quote]

Well, how about we use 1998 just because I have the stats at my fingertips (and there was no meaningful Bubble Action between 1995 and 1998, so this shouldn’t make a big difference).

The CPI has increased by 2.4% since 1998. The S&P 500 has returned 4.1% (nominal) annually since January 1998. So, where stocks are concerned – a pretty big asset of “The Rich,” I think you’d agree – going back to 1998 wouldn’t be a huge drop from here (in fact, it would be about a 22% decline from current levels – which would be healthy, frankly). But I think you’d agree that this 1.7% annualized real return for The Rich from stocks is nothing to brag about (but certainly better than nothing).

Rents have increased by 3.6% (nominal) annually since 1998, or 1.2% greater than the overall inflation rate. U.S. housing – not adjusted for increased average size – appears to be about 13% higher in real terms (see graph below) than it was in 1998, but two caveats: (1) again, the average home is larger today, which isn’t captured in the graph, and (2) as one of Rich’s graphs (House Payment-to-Income Ratio) illustrates, the actual cost of ownership (here in SD) is lower today than it was in 1998 (and well below 1995 levels).

http://mysite.verizon.net/vzeqrguz/housingbubble/

So, when you say, “Let’s ALL go back to ~1995 levels,” I don’t think we’re that far off in real terms (yes, I’ve used 1998 as my base year).

So, I don’t think most public workers’ purchasing power is too far off of mid- to late-90s levels, but I’ll grant you that it probably hasn’t improved much over the last 13+ years. But, recall, that wasn’t your argument… you said they’d be happy roll back to that level of purchasing power parity, and I think they’re very close to being there now. They just don’t like the fact that it hasn’t gotten any better. (And a lot of these folks have probably gotten into debt keeping up with the Joneses over the last many years – that is, it *feels* like they’re struggling more – and that’s not the taxpayers’ fault.) But that’s a separate argument. An argument could be made that with the stability of a government job comes little in the way of real (as opposed to nominal) wage gains. I’m just sayin’…

[Author]

Posts