[(former)FormerSanDiegan]

I actually refinanced my house with Mehran Aram back in 1999 or so. No complaints.

Rearding Chamberlain. He’s like a stopped clock. You would have made a ton of money following his advice 7-8 years ago, but he’s an obvious perma-bull, numb-skull.

I also remember some of his guests in the last 90’s advocating day-trading tech stocks. Wonder how that turned out ?

[(former)FormerSanDiegan]

patientrenter – Well said. I tend to agree, with a minor twist. I do think the premium areas will get hit nearly as hard as other areas, but they will be impacted for a shorter time. Last areas down… first areas up. Therefore the impact of this downturn in these most desirable areas will be less.

[(former)FormerSanDiegan]

patientrenter – Well said. I tend to agree, with a minor twist. I do think the premium areas will get hit nearly as hard as other areas, but they will be impacted for a shorter time. Last areas down… first areas up. Therefore the impact of this downturn in these most desirable areas will be less.

[(former)FormerSanDiegan]

n_s_r nailed it. A complex with hundred of units can do this. An owner with 1 or 2 properties knows that a 1 month vacancy equals 8% of the annual rent. Not worth it for the small guy to raise rent by 5% if it causes a vacancy.

[(former)FormerSanDiegan]

n_s_r nailed it. A complex with hundred of units can do this. An owner with 1 or 2 properties knows that a 1 month vacancy equals 8% of the annual rent. Not worth it for the small guy to raise rent by 5% if it causes a vacancy.

[(former)FormerSanDiegan]

n_s_r – This is an interesting report. I think it might explain the long term trend (e.g. 40 years) of certain metro areas outperforming the rest of the country. But it does not attempt to explain the cyclical changes in the 7-10 year cycle in which we are currently experiencing a decline. If the thesis holds true, we should see a higher bottom than last time for these areas.

We shall see.

[(former)FormerSanDiegan]

n_s_r – This is an interesting report. I think it might explain the long term trend (e.g. 40 years) of certain metro areas outperforming the rest of the country. But it does not attempt to explain the cyclical changes in the 7-10 year cycle in which we are currently experiencing a decline. If the thesis holds true, we should see a higher bottom than last time for these areas.

We shall see.

[(former)FormerSanDiegan]

Similarly, the top 1% of people in the world make a mere $50,000. The top 0.01%, $200,000. That’s a mere 715,000 people.

Where did the 715,000 number come from ?
As of 1995, the Census bureau has over 3 Million households in the US alone making over $200,000.

[(former)FormerSanDiegan]

Similarly, the top 1% of people in the world make a mere $50,000. The top 0.01%, $200,000. That’s a mere 715,000 people.

Where did the 715,000 number come from ?
As of 1995, the Census bureau has over 3 Million households in the US alone making over $200,000.

[(former)FormerSanDiegan]

… however, if you receive a gift from a foreigner in the amount over 100K you have to report this on form 3520 (section IV).
http://www.irs.gov/pub/irs-pdf/f3520.pdf
There is probably much more to this issue as well. I recommend a consult with a CPA.
But if you decide not to consult one, then remember the IRS requires you to share 50% of the gift with the members of Piggington with the word Former in their moniker.

Disclaimer: The above is not intended to be construed as legal or tax advice. Any further use or rebroadcast requires the express written consent of major league baseball. Side effects include drowsiness, itching, and gas with oily discharge.

[(former)FormerSanDiegan]

… however, if you receive a gift from a foreigner in the amount over 100K you have to report this on form 3520 (section IV).
http://www.irs.gov/pub/irs-pdf/f3520.pdf
There is probably much more to this issue as well. I recommend a consult with a CPA.
But if you decide not to consult one, then remember the IRS requires you to share 50% of the gift with the members of Piggington with the word Former in their moniker.

Disclaimer: The above is not intended to be construed as legal or tax advice. Any further use or rebroadcast requires the express written consent of major league baseball. Side effects include drowsiness, itching, and gas with oily discharge.

[(former)FormerSanDiegan]

blue_sky –

The link you reference refers to gift tax, which is filed by the payee, not the recipient. There is no actual tax paid, it is simply using up the estate tax exclusion for any amounts over 11K per person, per year. If the grandmother were a US citizen, she would file the paperwork, not him. I don’t see where this addresses a foreigner (non-US taxpayer) making a gift to a citizen.

Note: Moving $250K across borders via wire transfer or otherwise, will likely be monitored by the feds. It is likely to raise flags as potential money laundering.

I think this issue is best handled by a legal professional, not a message board.

[(former)FormerSanDiegan]

blue_sky –

The link you reference refers to gift tax, which is filed by the payee, not the recipient. There is no actual tax paid, it is simply using up the estate tax exclusion for any amounts over 11K per person, per year. If the grandmother were a US citizen, she would file the paperwork, not him. I don’t see where this addresses a foreigner (non-US taxpayer) making a gift to a citizen.

Note: Moving $250K across borders via wire transfer or otherwise, will likely be monitored by the feds. It is likely to raise flags as potential money laundering.

I think this issue is best handled by a legal professional, not a message board.

[(former)FormerSanDiegan]

“In about 10 years it will make more sense to own than to rent.”

Actually, if rent goes up 5% per year and prices drop 5% per year it will probably be more like 4 years.

[(former)FormerSanDiegan]

“In about 10 years it will make more sense to own than to rent.”

Actually, if rent goes up 5% per year and prices drop 5% per year it will probably be more like 4 years.

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