Forum Replies Created
-
AuthorPosts
-
July 15, 2008 at 7:05 PM in reply to: Friend wants to buy and I can’t talk him out of it – Wants to live closer to DT, but north of 805 Merge #240012July 15, 2008 at 7:05 PM in reply to: Friend wants to buy and I can’t talk him out of it – Wants to live closer to DT, but north of 805 Merge #240149
EconProf
ParticipantHave him list and total the monthly costs of owning the proposed property.
Add to the list 1% of the purchase price.
That is (conservatively) the fall in value of the property each month he owns it at current rates.
If he challenges that figure, tell him the rate has accelerated in recent months.July 15, 2008 at 7:05 PM in reply to: Friend wants to buy and I can’t talk him out of it – Wants to live closer to DT, but north of 805 Merge #240156ParticipantHave him list and total the monthly costs of owning the proposed property.
Add to the list 1% of the purchase price.
That is (conservatively) the fall in value of the property each month he owns it at current rates.
If he challenges that figure, tell him the rate has accelerated in recent months.July 15, 2008 at 7:05 PM in reply to: Friend wants to buy and I can’t talk him out of it – Wants to live closer to DT, but north of 805 Merge #240208ParticipantHave him list and total the monthly costs of owning the proposed property.
Add to the list 1% of the purchase price.
That is (conservatively) the fall in value of the property each month he owns it at current rates.
If he challenges that figure, tell him the rate has accelerated in recent months.July 15, 2008 at 7:05 PM in reply to: Friend wants to buy and I can’t talk him out of it – Wants to live closer to DT, but north of 805 Merge #240215ParticipantHave him list and total the monthly costs of owning the proposed property.
Add to the list 1% of the purchase price.
That is (conservatively) the fall in value of the property each month he owns it at current rates.
If he challenges that figure, tell him the rate has accelerated in recent months.ParticipantI was really surprised to see this cover article on this week’s Barron’s magazine. Upon reading it, I saw little merit in their arguments. They even rely on Lawrence Yun, NAR, as a source, which really destroyed their credibility.
On the other hand, Barron’s was spot on in calling this housing bubble, starting right on time in 2005 & 2006. When they put out a forecast, attention must be paid.ParticipantI was really surprised to see this cover article on this week’s Barron’s magazine. Upon reading it, I saw little merit in their arguments. They even rely on Lawrence Yun, NAR, as a source, which really destroyed their credibility.
On the other hand, Barron’s was spot on in calling this housing bubble, starting right on time in 2005 & 2006. When they put out a forecast, attention must be paid.ParticipantI was really surprised to see this cover article on this week’s Barron’s magazine. Upon reading it, I saw little merit in their arguments. They even rely on Lawrence Yun, NAR, as a source, which really destroyed their credibility.
On the other hand, Barron’s was spot on in calling this housing bubble, starting right on time in 2005 & 2006. When they put out a forecast, attention must be paid.ParticipantI was really surprised to see this cover article on this week’s Barron’s magazine. Upon reading it, I saw little merit in their arguments. They even rely on Lawrence Yun, NAR, as a source, which really destroyed their credibility.
On the other hand, Barron’s was spot on in calling this housing bubble, starting right on time in 2005 & 2006. When they put out a forecast, attention must be paid.ParticipantI was really surprised to see this cover article on this week’s Barron’s magazine. Upon reading it, I saw little merit in their arguments. They even rely on Lawrence Yun, NAR, as a source, which really destroyed their credibility.
On the other hand, Barron’s was spot on in calling this housing bubble, starting right on time in 2005 & 2006. When they put out a forecast, attention must be paid.July 15, 2008 at 2:48 PM in reply to: Housing Tracker update – prices about to go over the cliff in San Diego #239777ParticipantDon’t know about Texas recourse or nonrecourse mortgages.
But one factor best explains why Texas did not have a bubble comparable to ours: cheap land.
Texas is flat, no ocean, mountains, or TJ next door to inhibit building. Plus a low-tax, developer-friendly government. Throwing up houses is easy and cheap, dependent on labor costs and materials, which didn’t much go up.
With no bubble to pop, their house prices aren’t falling much, and are even rising in some areas. Having oil, natural gas, and ag. also helps.July 15, 2008 at 2:48 PM in reply to: Housing Tracker update – prices about to go over the cliff in San Diego #239914ParticipantDon’t know about Texas recourse or nonrecourse mortgages.
But one factor best explains why Texas did not have a bubble comparable to ours: cheap land.
Texas is flat, no ocean, mountains, or TJ next door to inhibit building. Plus a low-tax, developer-friendly government. Throwing up houses is easy and cheap, dependent on labor costs and materials, which didn’t much go up.
With no bubble to pop, their house prices aren’t falling much, and are even rising in some areas. Having oil, natural gas, and ag. also helps.July 15, 2008 at 2:48 PM in reply to: Housing Tracker update – prices about to go over the cliff in San Diego #239919ParticipantDon’t know about Texas recourse or nonrecourse mortgages.
But one factor best explains why Texas did not have a bubble comparable to ours: cheap land.
Texas is flat, no ocean, mountains, or TJ next door to inhibit building. Plus a low-tax, developer-friendly government. Throwing up houses is easy and cheap, dependent on labor costs and materials, which didn’t much go up.
With no bubble to pop, their house prices aren’t falling much, and are even rising in some areas. Having oil, natural gas, and ag. also helps.July 15, 2008 at 2:48 PM in reply to: Housing Tracker update – prices about to go over the cliff in San Diego #239976ParticipantDon’t know about Texas recourse or nonrecourse mortgages.
But one factor best explains why Texas did not have a bubble comparable to ours: cheap land.
Texas is flat, no ocean, mountains, or TJ next door to inhibit building. Plus a low-tax, developer-friendly government. Throwing up houses is easy and cheap, dependent on labor costs and materials, which didn’t much go up.
With no bubble to pop, their house prices aren’t falling much, and are even rising in some areas. Having oil, natural gas, and ag. also helps.July 15, 2008 at 2:48 PM in reply to: Housing Tracker update – prices about to go over the cliff in San Diego #239978ParticipantDon’t know about Texas recourse or nonrecourse mortgages.
But one factor best explains why Texas did not have a bubble comparable to ours: cheap land.
Texas is flat, no ocean, mountains, or TJ next door to inhibit building. Plus a low-tax, developer-friendly government. Throwing up houses is easy and cheap, dependent on labor costs and materials, which didn’t much go up.
With no bubble to pop, their house prices aren’t falling much, and are even rising in some areas. Having oil, natural gas, and ag. also helps. -
AuthorPosts
