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Yipla, selling is middle class mindset. You’re an aristo now, even if only a jr grade new money baronet.

Hold forever, make it generational wealth, and do a cash-out refi if you feel the need for some cash. (I bet you don’t!)

“Cash flow after mortgage and expenses” is an arbitrary measure of value, as there’s no right type of mortgage. The same house that has a massive cash flow with a 30 year mortgage with 50% LTV has negative cash flow with a 10-year 90% LTV.

Also, I think if stepped up basis ever gets killed, it won’t be a complete kill, but just for assets or estates of more than $5 million or something like that. There’s other compromises beside a complete kill, like a basis of 50% of market value at death.

Regarding the neighbor, hold out longer and you win!

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IMO TPTB seem deathly afraid of any type of downturn,

At first sign I think they will throw the printing presses into high gear followed by shocking amounts of free helicopter money.

If you think TPTB are OK with inflation, why has the media been on non-stop inflation scare mode the past year?

I maintain my position that several years of 3-6% inflation would be great, but unfortunately we won’t get it.

Further, the GOP is going to get at least one, probably both houses in November. They will block any further transfers to non-elites, which are potentially inflationary.

Tax cuts for the rich and Fed bond market interventions simply are not inflationary.

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11%? I’ll take the “over” on that one.

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I only did one attempt at a credit card chargeback in the past 10 years, and Citi denied it. So I won’t use a citibank credit card again, and warn you too. It was only about $100 and with priceline.

A few months ago however I asked PayPal to refund an autobill I had already cancelled, and it was a really quick process that took 30 seconds online. This was for about $60.

The best credit cards these days are Chase, Amex, and Barclay, in that order. Citi used to be a close second but they just don’t have the big bonuses the other leaders do.

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Try borrowing someone’s Oculus Quest 2. I say borrow because it is tons of fun at first but gets boring after a while. You spend 10 hours on it the first month, then 5, then 2, then 0-1.

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I am in the low inflation camp obviously, but 1 year of ~5-7% and another few at 2% and taxes deferred is pretty good.

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The catch is you can only buy 10k a year for yourself.

I like the handsome $1000 paper version with Albert Einstein.

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The Carlsbad zillow link shows there are problems with very high end rentals. It was listed at $6595 on 8/28, and a bunch of price cuts followed. It’s empty now, and who knows how long before.

If this were 2 units half each half its size, they would have rented easily given how ultra tight the market is.

When you get to that price range, renters also have high expectations and complain more.

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La Jolla is fairly unique for its huge concentration of older high net worth seniors from around the world, they do not want the hassle of ownership.

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6k for 2600sf in CV sounds very possible. Mine is about 2100sf, but the yard is huge and makes it feel bigger, 2 floors on 7k sf lot. I would price mine at 5500 if empty and see if there are good prospects.

Higher end like that has worse rent to price.

The market of people who are good tenants, have 72k a year for rent, and want to stay 12+ months is tiny. Buying makes much more sense.

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I gave the tenant in my 5-bedroom house 65 days notice that I was moving in early next year.

I currently live in a smaller house and have a baby coming in a couple months, and also would like more space for everyone and guests and art projects.

Their response was to offer to pay more rent if they can stay another year. We worked out a 1,133/month rent increase. While I want more space, $13,600 a year provides a lot of compensation and I am happy not to disrupt my tenant’s life.

It’s 4200/mo now going to 5333. They pointed out they paid for a lot of minor things themselves like new interior paint and doors, and also did the leg work of arranging other things that I paid for. They also claimed to have scraped 6 layers of wallpaper from one of the bedrooms.

5333 is still a great deal on a 5/3 with big yard garage and 3 car non tandem parking near the beach, so maybe we will have a similar conversation next year. It is not a crazy deal however because only the kitchen and 2 of the baths have been renovated, parts of it haven’t been updated in 60+ years. The bedrooms are also all small in line with normal prewar housing. If I ever move in as planned, we’ll likely use the jack and jill bedrooms as a single master suite.

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Kramer vs. Kramer was the highest grossing movie of 1979, and also won Best Picture, Best Director, and Best Actor.

1979 was an unusually bad year for American film however. The “big” movies that year that I saw I all disliked or at best were boring. Breaking Away was fairly good and that’s it.

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$671 doesn’t seem super high if it includes a lot of parking and A+ condition.

I see OB/PB/LJ homes sell over $1k/sf regularly. If the commercial part includes a liquor license and there’s high end residential above, there you go, just average $900/sf for the residential half and 400/sf for the commercial bottom.

Interestingly, residential is worth so much more than commercial space that the city has to cajole and incentivize developers to include ground level commercial space.

I think it was at the Upper Voltaire high end townhouse development on the OB hill where the single commercial space was empty for years and eventually converted to residential.

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Rents in OB are still mooning. Availability outside the very high end is close to zero, and when things open they get immediately flooded with applicants.

Looks like we are headed for a 50-70% increase from Jan 2019 to Jan 2022. E.g. 1/1 of ~700sf going from $1300-1600 to $2100-2600.

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Everyone wants an OB SFH, but nobody’s leaving!

Mid-November SFH inventory in 92107:

2007 – 66
2009 – 53
2011 – 55
2015 – 33
2017 – 26
2021 – 8

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