[EconProf]

I’m sorry Marion, but you are white.
I know because I saw your leg.
Looks predominately white to me. Assuming your heritage is over 50% white, then, IMHO you are white.
Of course, you can call yourself black, it is your choice. But, serious question now, at what point do you start to call yourself white: 1/2, 3/4, 7/8, 15/16?
Historically, the old dogma that “one drop of black blood makes that person black” was first espoused by the plantation owners of the pre-Civil War era. Maybe you buy into that; I chose not to. I suggest that anything 50% or more of one race puts that person into that category.
Our government is having a difficult time remaining politically correct and categorizing people by race as we are becoming (thankfully), a more mixed, polygot country. Their forms sometimes require us to name our race, and it is getting increasingly difficult. I long for a nation that is color-blind in word and deed, and policy.
Incidentally, nice leg, for a Mom of a teenager. You should be proud.

[EconProf]

I’m sorry Marion, but you are white.
I know because I saw your leg.
Looks predominately white to me. Assuming your heritage is over 50% white, then, IMHO you are white.
Of course, you can call yourself black, it is your choice. But, serious question now, at what point do you start to call yourself white: 1/2, 3/4, 7/8, 15/16?
Historically, the old dogma that “one drop of black blood makes that person black” was first espoused by the plantation owners of the pre-Civil War era. Maybe you buy into that; I chose not to. I suggest that anything 50% or more of one race puts that person into that category.
Our government is having a difficult time remaining politically correct and categorizing people by race as we are becoming (thankfully), a more mixed, polygot country. Their forms sometimes require us to name our race, and it is getting increasingly difficult. I long for a nation that is color-blind in word and deed, and policy.
Incidentally, nice leg, for a Mom of a teenager. You should be proud.

[EconProf]

I’m sorry Marion, but you are white.
I know because I saw your leg.
Looks predominately white to me. Assuming your heritage is over 50% white, then, IMHO you are white.
Of course, you can call yourself black, it is your choice. But, serious question now, at what point do you start to call yourself white: 1/2, 3/4, 7/8, 15/16?
Historically, the old dogma that “one drop of black blood makes that person black” was first espoused by the plantation owners of the pre-Civil War era. Maybe you buy into that; I chose not to. I suggest that anything 50% or more of one race puts that person into that category.
Our government is having a difficult time remaining politically correct and categorizing people by race as we are becoming (thankfully), a more mixed, polygot country. Their forms sometimes require us to name our race, and it is getting increasingly difficult. I long for a nation that is color-blind in word and deed, and policy.
Incidentally, nice leg, for a Mom of a teenager. You should be proud.

[EconProf]

I’m sorry Marion, but you are white.
I know because I saw your leg.
Looks predominately white to me. Assuming your heritage is over 50% white, then, IMHO you are white.
Of course, you can call yourself black, it is your choice. But, serious question now, at what point do you start to call yourself white: 1/2, 3/4, 7/8, 15/16?
Historically, the old dogma that “one drop of black blood makes that person black” was first espoused by the plantation owners of the pre-Civil War era. Maybe you buy into that; I chose not to. I suggest that anything 50% or more of one race puts that person into that category.
Our government is having a difficult time remaining politically correct and categorizing people by race as we are becoming (thankfully), a more mixed, polygot country. Their forms sometimes require us to name our race, and it is getting increasingly difficult. I long for a nation that is color-blind in word and deed, and policy.
Incidentally, nice leg, for a Mom of a teenager. You should be proud.

[EconProf]

I’m sorry Marion, but you are white.
I know because I saw your leg.
Looks predominately white to me. Assuming your heritage is over 50% white, then, IMHO you are white.
Of course, you can call yourself black, it is your choice. But, serious question now, at what point do you start to call yourself white: 1/2, 3/4, 7/8, 15/16?
Historically, the old dogma that “one drop of black blood makes that person black” was first espoused by the plantation owners of the pre-Civil War era. Maybe you buy into that; I chose not to. I suggest that anything 50% or more of one race puts that person into that category.
Our government is having a difficult time remaining politically correct and categorizing people by race as we are becoming (thankfully), a more mixed, polygot country. Their forms sometimes require us to name our race, and it is getting increasingly difficult. I long for a nation that is color-blind in word and deed, and policy.
Incidentally, nice leg, for a Mom of a teenager. You should be proud.

[EconProf]

I second everything Surveyer just said.
Would add to it that you need to include in your projections ALL the costs involved in owning rental properties. Most often overlooked:
1. Vacancy. Not just the time advertising, showing, and waiting for the tenant you’ve picked to get around to moving in, but the prep. and fixup time before it is even ready to show.
2. Opportunity cost of your down payment.
3. A monthly reserve set-aside for major repairs.
4. The cost of your own time: maintenance, management, headaches.
5. Transaction costs getting in and getting out.
6. The postponed cap gain taxes due when you sell (CA cap gains tax is, I believe, the steepest in the nation).

[EconProf]

I second everything Surveyer just said.
Would add to it that you need to include in your projections ALL the costs involved in owning rental properties. Most often overlooked:
1. Vacancy. Not just the time advertising, showing, and waiting for the tenant you’ve picked to get around to moving in, but the prep. and fixup time before it is even ready to show.
2. Opportunity cost of your down payment.
3. A monthly reserve set-aside for major repairs.
4. The cost of your own time: maintenance, management, headaches.
5. Transaction costs getting in and getting out.
6. The postponed cap gain taxes due when you sell (CA cap gains tax is, I believe, the steepest in the nation).

[EconProf]

I second everything Surveyer just said.
Would add to it that you need to include in your projections ALL the costs involved in owning rental properties. Most often overlooked:
1. Vacancy. Not just the time advertising, showing, and waiting for the tenant you’ve picked to get around to moving in, but the prep. and fixup time before it is even ready to show.
2. Opportunity cost of your down payment.
3. A monthly reserve set-aside for major repairs.
4. The cost of your own time: maintenance, management, headaches.
5. Transaction costs getting in and getting out.
6. The postponed cap gain taxes due when you sell (CA cap gains tax is, I believe, the steepest in the nation).

[EconProf]

I second everything Surveyer just said.
Would add to it that you need to include in your projections ALL the costs involved in owning rental properties. Most often overlooked:
1. Vacancy. Not just the time advertising, showing, and waiting for the tenant you’ve picked to get around to moving in, but the prep. and fixup time before it is even ready to show.
2. Opportunity cost of your down payment.
3. A monthly reserve set-aside for major repairs.
4. The cost of your own time: maintenance, management, headaches.
5. Transaction costs getting in and getting out.
6. The postponed cap gain taxes due when you sell (CA cap gains tax is, I believe, the steepest in the nation).

[EconProf]

I second everything Surveyer just said.
Would add to it that you need to include in your projections ALL the costs involved in owning rental properties. Most often overlooked:
1. Vacancy. Not just the time advertising, showing, and waiting for the tenant you’ve picked to get around to moving in, but the prep. and fixup time before it is even ready to show.
2. Opportunity cost of your down payment.
3. A monthly reserve set-aside for major repairs.
4. The cost of your own time: maintenance, management, headaches.
5. Transaction costs getting in and getting out.
6. The postponed cap gain taxes due when you sell (CA cap gains tax is, I believe, the steepest in the nation).

[EconProf]

I’m seeing a lot of theories to explain the different prices of housing San Diego vs. Texas. I still claim it is mostly land and lot prices, + a hostile government here that loves to skewer developers. You guys need to talk to some builders to see what they have to pay for lots.
A quick look at Craigslist for Dallas real estate immediately turned up, for under $30k, a big lot allegedly 20 minutes from Dallas downtown, 20 minutes from Fort Worth downtown. Allowing for some exageration by the seller, and this example’s admittedly anecdotal nature, it supports my thesis. I didn’t take the time to drum up more examples, but they seemed to be there.
What would a building lot 20 minutes from downtown San Diego cost? Here’s a start: $300k for a scraper in Scripps Ranch after their fire 4 or so years ago. (SD Realtor: you live in Scripps…is this about right?).
Another example I was involved in 3 years ago. 50 x 140 standard lot in North Park, so-so neighborhood, sold for $600k with scraper house on it. In fairness, I think the same lot now would go for $400k. But even with the current pullback, land and lots here are incredibly expensive.
We’ve got canyons, an ocean, an international border, military bases, and NIMBY’S throughout.

[EconProf]

I’m seeing a lot of theories to explain the different prices of housing San Diego vs. Texas. I still claim it is mostly land and lot prices, + a hostile government here that loves to skewer developers. You guys need to talk to some builders to see what they have to pay for lots.
A quick look at Craigslist for Dallas real estate immediately turned up, for under $30k, a big lot allegedly 20 minutes from Dallas downtown, 20 minutes from Fort Worth downtown. Allowing for some exageration by the seller, and this example’s admittedly anecdotal nature, it supports my thesis. I didn’t take the time to drum up more examples, but they seemed to be there.
What would a building lot 20 minutes from downtown San Diego cost? Here’s a start: $300k for a scraper in Scripps Ranch after their fire 4 or so years ago. (SD Realtor: you live in Scripps…is this about right?).
Another example I was involved in 3 years ago. 50 x 140 standard lot in North Park, so-so neighborhood, sold for $600k with scraper house on it. In fairness, I think the same lot now would go for $400k. But even with the current pullback, land and lots here are incredibly expensive.
We’ve got canyons, an ocean, an international border, military bases, and NIMBY’S throughout.

[EconProf]

I’m seeing a lot of theories to explain the different prices of housing San Diego vs. Texas. I still claim it is mostly land and lot prices, + a hostile government here that loves to skewer developers. You guys need to talk to some builders to see what they have to pay for lots.
A quick look at Craigslist for Dallas real estate immediately turned up, for under $30k, a big lot allegedly 20 minutes from Dallas downtown, 20 minutes from Fort Worth downtown. Allowing for some exageration by the seller, and this example’s admittedly anecdotal nature, it supports my thesis. I didn’t take the time to drum up more examples, but they seemed to be there.
What would a building lot 20 minutes from downtown San Diego cost? Here’s a start: $300k for a scraper in Scripps Ranch after their fire 4 or so years ago. (SD Realtor: you live in Scripps…is this about right?).
Another example I was involved in 3 years ago. 50 x 140 standard lot in North Park, so-so neighborhood, sold for $600k with scraper house on it. In fairness, I think the same lot now would go for $400k. But even with the current pullback, land and lots here are incredibly expensive.
We’ve got canyons, an ocean, an international border, military bases, and NIMBY’S throughout.

[EconProf]

I’m seeing a lot of theories to explain the different prices of housing San Diego vs. Texas. I still claim it is mostly land and lot prices, + a hostile government here that loves to skewer developers. You guys need to talk to some builders to see what they have to pay for lots.
A quick look at Craigslist for Dallas real estate immediately turned up, for under $30k, a big lot allegedly 20 minutes from Dallas downtown, 20 minutes from Fort Worth downtown. Allowing for some exageration by the seller, and this example’s admittedly anecdotal nature, it supports my thesis. I didn’t take the time to drum up more examples, but they seemed to be there.
What would a building lot 20 minutes from downtown San Diego cost? Here’s a start: $300k for a scraper in Scripps Ranch after their fire 4 or so years ago. (SD Realtor: you live in Scripps…is this about right?).
Another example I was involved in 3 years ago. 50 x 140 standard lot in North Park, so-so neighborhood, sold for $600k with scraper house on it. In fairness, I think the same lot now would go for $400k. But even with the current pullback, land and lots here are incredibly expensive.
We’ve got canyons, an ocean, an international border, military bases, and NIMBY’S throughout.

[EconProf]

I’m seeing a lot of theories to explain the different prices of housing San Diego vs. Texas. I still claim it is mostly land and lot prices, + a hostile government here that loves to skewer developers. You guys need to talk to some builders to see what they have to pay for lots.
A quick look at Craigslist for Dallas real estate immediately turned up, for under $30k, a big lot allegedly 20 minutes from Dallas downtown, 20 minutes from Fort Worth downtown. Allowing for some exageration by the seller, and this example’s admittedly anecdotal nature, it supports my thesis. I didn’t take the time to drum up more examples, but they seemed to be there.
What would a building lot 20 minutes from downtown San Diego cost? Here’s a start: $300k for a scraper in Scripps Ranch after their fire 4 or so years ago. (SD Realtor: you live in Scripps…is this about right?).
Another example I was involved in 3 years ago. 50 x 140 standard lot in North Park, so-so neighborhood, sold for $600k with scraper house on it. In fairness, I think the same lot now would go for $400k. But even with the current pullback, land and lots here are incredibly expensive.
We’ve got canyons, an ocean, an international border, military bases, and NIMBY’S throughout.

[Author]

Posts