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no_such_reality
ParticipantActually, I understood. My anywhere comment was only partially tongue in cheek.
I’m young, so my investments are primarily scattered over domestic and international stocks. I buy individual stocks except in my 401K, where I have to hold mutual funds. I tend to use that to leverage my international portion of the portfolio.
Presently, I’m looking at trying an investment property back in the midwest. The cashflow numbers look like they work out and I may have a line a property management firm that I can leverage through extended family. I’m also searching through business ideas trying to find one I can buy or start up, buying would be better.
I’m not a bond fan, not enough growth over inflation unless I time it. I don’t bother with gold, because it requires too much market timing. My timing isn’t the best.
ParticipantThe problem isn’t a soft market.
The problem isn’t a shady broker.
The problem isn’t a bad loan.
The problem is the buyer took a loan that they could not afford the payment on once the teaser rate ran out.
That is the root of the problem.
ParticipantThe problem isn’t a soft market.
The problem isn’t a shady broker.
The problem isn’t a bad loan.
The problem is the buyer took a loan that they could not afford the payment on once the teaser rate ran out.
That is the root of the problem.
ParticipantWhere do you park your money during the interim?
Anywhere I want. 🙂
I’m not out because I’m attempting to time the market, I’m out because when I sold, I got disgusted with the competition and thought the prices were insane. Then they went up some more.
When I look around Irvine, Huntington Beach and see pretty standard tract homes with $1.1 Million price tags on them, and it’s all regular middle class families, it’s “just not right”.
I was looking for a modest 3/2 (just like everybody else), they were $799,000 and gone in a day. Once you break the “I want” stranglehold on your emotions with housing, the compromise becomes much easier.
My alternative, while not a 3/2 with a quaint yard, was to split a dual master bedroom townhome with a friend, a mile off the beach, in a complex with three pools, sauna, 2 tennis courts, 2 car garage, etc. Yep that’s a big difference. A roommate, townhome, I wanted an SFR and no roommates. You may wonder what could possibly make giving up what I wanted tolerable. The answer is simple.
My half the rent is 1/6th of the mortgage and tax payment of trying to buy something I wanted. Plus I have someone to pick up half the utilities!
Granted, my income tax bill sucketh. However, since I don’t have a fat mortgage payment, I can pretty much fly off any weekend I feel like getting out of town.
When buying that 3/2 or a larger 4/3 becomes closer to comparable rent, I’ll get going and not worry about the bottom.
ParticipantWhere do you park your money during the interim?
Anywhere I want. 🙂
I’m not out because I’m attempting to time the market, I’m out because when I sold, I got disgusted with the competition and thought the prices were insane. Then they went up some more.
When I look around Irvine, Huntington Beach and see pretty standard tract homes with $1.1 Million price tags on them, and it’s all regular middle class families, it’s “just not right”.
I was looking for a modest 3/2 (just like everybody else), they were $799,000 and gone in a day. Once you break the “I want” stranglehold on your emotions with housing, the compromise becomes much easier.
My alternative, while not a 3/2 with a quaint yard, was to split a dual master bedroom townhome with a friend, a mile off the beach, in a complex with three pools, sauna, 2 tennis courts, 2 car garage, etc. Yep that’s a big difference. A roommate, townhome, I wanted an SFR and no roommates. You may wonder what could possibly make giving up what I wanted tolerable. The answer is simple.
My half the rent is 1/6th of the mortgage and tax payment of trying to buy something I wanted. Plus I have someone to pick up half the utilities!
Granted, my income tax bill sucketh. However, since I don’t have a fat mortgage payment, I can pretty much fly off any weekend I feel like getting out of town.
When buying that 3/2 or a larger 4/3 becomes closer to comparable rent, I’ll get going and not worry about the bottom.
ParticipantThe bubble collapse started a little over a year ago in the OC. In San Diego, it started almost two years ago.
In five years, when we look back and factor in inflation, the peak and corner turn will be obvious.
Two years to bottom, then a short languish there and in 3-4 years from now, bottom pricing will remain but sales volume will increase. Which might just be in time for the Alt-A 5 year ARMs to kick it in the groin.
ParticipantThe bubble collapse started a little over a year ago in the OC. In San Diego, it started almost two years ago.
In five years, when we look back and factor in inflation, the peak and corner turn will be obvious.
Two years to bottom, then a short languish there and in 3-4 years from now, bottom pricing will remain but sales volume will increase. Which might just be in time for the Alt-A 5 year ARMs to kick it in the groin.
ParticipantSee the 2nd table. A “C” means all visa change-of-status requests from those countries are now “current”. Until now they were backlogged to 2003.
No, that means immigrant numbers are available. Welcome to the queue, which is still backed up to 2001 courtesy of Table 1.
This is an annual process and they go fast.
In otherwords, this is just like last year. And the year before. and the one before that.
ParticipantSee the 2nd table. A “C” means all visa change-of-status requests from those countries are now “current”. Until now they were backlogged to 2003.
No, that means immigrant numbers are available. Welcome to the queue, which is still backed up to 2001 courtesy of Table 1.
This is an annual process and they go fast.
In otherwords, this is just like last year. And the year before. and the one before that.
ParticipantBugs, you’re too optimistic. 🙂
That $250,000 house, at a “living wage” recommended max 30% of gross going to housing puts the requisite income at $89,000.
ParticipantBugs, you’re too optimistic. 🙂
That $250,000 house, at a “living wage” recommended max 30% of gross going to housing puts the requisite income at $89,000.
ParticipantActually, since we’re paying through the landlord, to be fair, our rent should be tax deductible…
ParticipantActually, since we’re paying through the landlord, to be fair, our rent should be tax deductible…
ParticipantI’m cheating a bit.
Bloomberg.com lost all credibility with me when they qouted Powayseller as an expert on housing.
It served as a very vivid reminder of loose the media is with “experts”.
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