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July 23, 2016 at 3:52 PM in reply to: 3.4 new households for every new residential permit in SD #799866
Myriad
ParticipantAgree with Flu here. Since you’re young, a good place to start is a condo. But buy in a place that you want to live, where you commute isn’t terrible, and low HOA/mello roos (well, as low as you can find).
And finance it (3.5%, 10%, 20%), doesn’t really matter, but makes no sense to pay all cash at these rates.
Another consideration is that you may eventually decide to move to a larger home, so a condo in an area that is easy to rent out. I have a friend that just bought in UTC and is renting a room out for $1k/month.
As for the rest of the money, invest it in an index fund. You don’t want to have all your investments in real estate or be one of those people that is house rich, but cash poor.ParticipantThere’s a previous thread on this topic:
http://piggington.com/4s_melloroos_will_take_30_more_years_2040_to_payoffHowever, the links seem no longer to be available.
http://californiataxdata.us/ seems to charge for reports now. Might be worth the $29.I’m in CFD#1, tried paying off, called Dolinka, but they said I couldn’t pay it off. Fortunately it’s supposed to be done in a few years.
Looked at Del Sur, couldn’t get over the HOA and Mello Roos.ParticipantI’m done some reading on this – I don’t think she’s a con artist. Overly optimistic, completely disregard criticisms, incorrect understanding of science, and complete disregard for standard health testing practices – Absolutely Yes.
But I also think she really thought she was going to change the world.But why VCs didn’t do more research and ask more questions? That’s a different problem – or they just didn’t care.
ParticipantReminds me of a story I read once about these deals in France where the buyer gets the property after the death of the owner. In exchange, the buyer just pays the owner a certain amount each month.
Well this guy went into this deal with a lady who was 60. 40 years later, the buyer is already dead and his kids are still paying the lady living in the house.
ParticipantThe current HSR plan is incredible stupid, expensive, and already over budget & behind schedule.
The train between SF and LA is a 50 year project. At the moment they should focus on buying the right of way and doing the EIS for the the entire line. The focus should be on the following regional HSR.
1. LA-LV
2. LA-SD
3. LA-Bakersfield 3a. SF-Oakland-Sacramento
As population expands and the rail is actually used, then the line can be extended to other cities.At the current cost, it is already the world’s most expensive rail program on a per mile basis, by a wide margin. It will likely be unsustainable and certainly won’t make a profit (maybe not even on a operating basis – not paying back debt).
But this project is about political power even if the money would be better spent on regional rail, like a major rail system out of LAX.
ParticipantParticipantYeah seriously, the dual working couple is pretty much standard for most middle-class. Didn’t know you have a time machine to take us back to the 1950s.
ParticipantHave you looked at PQ or CMR?
PQ homes are older but no mello roos. CMR is early 1990’s but the mello roos and HOA are much lower than 4S/Del Sur.Participantduplicate
ParticipantBuilders build what the market wants. Sprawl is always going to happen even with high rises replacing SFR in inner city areas. Look at Hong Kong. Even with all the high rises, apartments are some of the most expensive in the world. So the younger workers buy apartments in high rises 15 miles from HK center in the New Territories. But the city is smart and builds massive mass transit infrastructure.
But with more density, you get more mass transit options.
One interesting change will be autonomous vehicles. Then long commutes won’t matter as much because people can do work/play etc on commutes. No need to find parking in inner cities, boomers can age in place, etc.ParticipantWhy would the government pardon Snowden. He took highly classified information (Secret & Top Secret) and took it to a foreign country. That more or less equates to espionage.
If he had stayed in the US, the I think a case could be made, but at this point, we have no idea how much info he provided the Russians.ParticipantI guess why it’s important to have enough cash on the side so that when the market drops 10%-20%, you have enough to invest more.
Now that they market is a little cheaper, good to put some money in. Lots of stocks are yielding >=3% – better than leaving it in the bank.As for recession, doesn’t seem that likely at the moment. The Fed is going to keep rates low until they see real inflation.
http://www.calculatedriskblog.com/2016/01/duy-so-you-think-recession-is-imminent.html
ParticipantI don’t think other IRAs matter. This deals specifically with 401Ks and after-tax 401Ks that are held in a employer plan.
ParticipantIRS Notice 2014-54 Acquiesces On Splitting After-Tax 401(k) Contributions For Roth Conversion
Basically when you pull money out of 401k to put in Rollover IRA, the after-tax 401k portion can go directly into a Roth IRA.
“While plans will still need to be cautious to navigate the ACP (Actual Contribution Percentage) test, where feasible the new “hierarchy” of tax-efficient savings strategies for retirement may now be:
– Obtain 401(k) match;
– Contribute further to max out pre-tax IRA and 401(k), or instead a Roth IRA and Roth 401(k) if current tax rates are low;
– Make after-tax contributions to the 401(k) plan if permitted, up to the annual defined contribution plan limits, in anticipation of converting those after-tax contributions in the future;
– Contribute to a low-cost non-qualified deferred annuity being used for tax deferral (which gets the tax-deferred growth treatment like after-tax contributions to a 401(k) plan, but not the ability to do a subsequent Roth conversion of the cost basis!)
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