Forum Replies Created
-
AuthorPosts
-
February 22, 2011 at 3:42 PM in reply to: San Diego up 1.7% while nationwide home prices near 2009 lows #670526February 22, 2011 at 3:42 PM in reply to: San Diego up 1.7% while nationwide home prices near 2009 lows #670869
(former)FormerSanDiegan
Participant[quote=Rich Toscano]I have SD Case Shiller as up 1.7% yoy (maybe that’s what the op’s article was referring to… sounded like seasonally adjusted in the article but I could be wrong).[/quote]
Why wouldn’t seasonally adjusted Y-O-Y and non-adjusted Y-O-Y changes be the same ?
ParticipantIf you can buy a place that you are comfortable living in for ~1x your income that would roughly cash flow as a rental, I would call that a no-brainer.
Monthly payments on a 400K loan would be in the 6-7% range of your income. Many people could afford that as a second home.
If you dedicated ~20% of your income (less than the average houshold devotes to housing) to paying off the property, you could pay it off in 5 years and own it free and clear and then go find your dream home.
Buying your unit or a similar unit to live in for a few years seems to be a low-risk obvious solution to me.
ParticipantIf you can buy a place that you are comfortable living in for ~1x your income that would roughly cash flow as a rental, I would call that a no-brainer.
Monthly payments on a 400K loan would be in the 6-7% range of your income. Many people could afford that as a second home.
If you dedicated ~20% of your income (less than the average houshold devotes to housing) to paying off the property, you could pay it off in 5 years and own it free and clear and then go find your dream home.
Buying your unit or a similar unit to live in for a few years seems to be a low-risk obvious solution to me.
ParticipantIf you can buy a place that you are comfortable living in for ~1x your income that would roughly cash flow as a rental, I would call that a no-brainer.
Monthly payments on a 400K loan would be in the 6-7% range of your income. Many people could afford that as a second home.
If you dedicated ~20% of your income (less than the average houshold devotes to housing) to paying off the property, you could pay it off in 5 years and own it free and clear and then go find your dream home.
Buying your unit or a similar unit to live in for a few years seems to be a low-risk obvious solution to me.
ParticipantIf you can buy a place that you are comfortable living in for ~1x your income that would roughly cash flow as a rental, I would call that a no-brainer.
Monthly payments on a 400K loan would be in the 6-7% range of your income. Many people could afford that as a second home.
If you dedicated ~20% of your income (less than the average houshold devotes to housing) to paying off the property, you could pay it off in 5 years and own it free and clear and then go find your dream home.
Buying your unit or a similar unit to live in for a few years seems to be a low-risk obvious solution to me.
ParticipantIf you can buy a place that you are comfortable living in for ~1x your income that would roughly cash flow as a rental, I would call that a no-brainer.
Monthly payments on a 400K loan would be in the 6-7% range of your income. Many people could afford that as a second home.
If you dedicated ~20% of your income (less than the average houshold devotes to housing) to paying off the property, you could pay it off in 5 years and own it free and clear and then go find your dream home.
Buying your unit or a similar unit to live in for a few years seems to be a low-risk obvious solution to me.
ParticipantI agree with jstoesz … Between the prostitutes working the Midway area,those rowdie trainees at NTC, the airplane noise, not to mentioned all those smelly fishermen… why would anyone want to move there.
Oh wait … it’s not 1992?
Well, there’s still that airplane noise.
… plus it’s really gloomy and cold there in May/June.Hoonestly, if I could have afforded Point Loma 8 or 10 years ago, I would probably still be living there today.
ParticipantI agree with jstoesz … Between the prostitutes working the Midway area,those rowdie trainees at NTC, the airplane noise, not to mentioned all those smelly fishermen… why would anyone want to move there.
Oh wait … it’s not 1992?
Well, there’s still that airplane noise.
… plus it’s really gloomy and cold there in May/June.Hoonestly, if I could have afforded Point Loma 8 or 10 years ago, I would probably still be living there today.
ParticipantI agree with jstoesz … Between the prostitutes working the Midway area,those rowdie trainees at NTC, the airplane noise, not to mentioned all those smelly fishermen… why would anyone want to move there.
Oh wait … it’s not 1992?
Well, there’s still that airplane noise.
… plus it’s really gloomy and cold there in May/June.Hoonestly, if I could have afforded Point Loma 8 or 10 years ago, I would probably still be living there today.
ParticipantI agree with jstoesz … Between the prostitutes working the Midway area,those rowdie trainees at NTC, the airplane noise, not to mentioned all those smelly fishermen… why would anyone want to move there.
Oh wait … it’s not 1992?
Well, there’s still that airplane noise.
… plus it’s really gloomy and cold there in May/June.Hoonestly, if I could have afforded Point Loma 8 or 10 years ago, I would probably still be living there today.
ParticipantI agree with jstoesz … Between the prostitutes working the Midway area,those rowdie trainees at NTC, the airplane noise, not to mentioned all those smelly fishermen… why would anyone want to move there.
Oh wait … it’s not 1992?
Well, there’s still that airplane noise.
… plus it’s really gloomy and cold there in May/June.Hoonestly, if I could have afforded Point Loma 8 or 10 years ago, I would probably still be living there today.
ParticipantBG – Agreed One of the factors in recent years wrt ARMs was the abuse of no-doc loans. Not necessarily the other features of these.
BTW, I also had an interest-only ARM that originated in 2002. It is not one of the 450,000 performing loans you cite (No I didn’t default, I refinanced into a 30-yr fixed).Of course, the most important feature of those performing loans that originated from 1988 to 2002 is that the owners are likely to have significant equity, even after the steep decline of the past couple of years.
ParticipantBG – Agreed One of the factors in recent years wrt ARMs was the abuse of no-doc loans. Not necessarily the other features of these.
BTW, I also had an interest-only ARM that originated in 2002. It is not one of the 450,000 performing loans you cite (No I didn’t default, I refinanced into a 30-yr fixed).Of course, the most important feature of those performing loans that originated from 1988 to 2002 is that the owners are likely to have significant equity, even after the steep decline of the past couple of years.
ParticipantBG – Agreed One of the factors in recent years wrt ARMs was the abuse of no-doc loans. Not necessarily the other features of these.
BTW, I also had an interest-only ARM that originated in 2002. It is not one of the 450,000 performing loans you cite (No I didn’t default, I refinanced into a 30-yr fixed).Of course, the most important feature of those performing loans that originated from 1988 to 2002 is that the owners are likely to have significant equity, even after the steep decline of the past couple of years.
-
AuthorPosts
