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NotCranky
ParticipantSD worker probably didn’t realize he or she was going to be expected to break their own anonymity to prove the point and bailed.
Participant“This house includes the land for $97/sf. Does that mean that the land has negative value?”
No it means it was a stupid place to build and worse yet, pay an astronomical price for a oversized house. An appropriate house for most people who can actually afford and want to live in Menifee, shennanigans put aside for the moment, is about 1200ft sq. Sooner or later those people are going to be getting a free 2000 sq. ft.
Participant“This house includes the land for $97/sf. Does that mean that the land has negative value?”
No it means it was a stupid place to build and worse yet, pay an astronomical price for a oversized house. An appropriate house for most people who can actually afford and want to live in Menifee, shennanigans put aside for the moment, is about 1200ft sq. Sooner or later those people are going to be getting a free 2000 sq. ft.
Participant“Is it pride that drives people to rent something at a loss rather than sell it at a loss?”
How about the inability to afford to sell it at a loss?
El dueno se encuentra entre de la espada y la pared. Does latin help you with that because Spanish didn’t help me a bit with your Latin and that es una gran sorpresa. The sentiment expressed in your sign off is nice however…
Participant“Is it pride that drives people to rent something at a loss rather than sell it at a loss?”
How about the inability to afford to sell it at a loss?
El dueno se encuentra entre de la espada y la pared. Does latin help you with that because Spanish didn’t help me a bit with your Latin and that es una gran sorpresa. The sentiment expressed in your sign off is nice however…
Participantpertinazzio
The comments about seniors renting in perpetuity wasn’t part of a significant discussion. It was just someplace I added two more cents worth,otherwise I would go find it. I think with the pace you have decided to take in handling the rent or buy scenarios the most reasonable decisions will be revealed to you as time passes.
Participantpertinazzio
The comments about seniors renting in perpetuity wasn’t part of a significant discussion. It was just someplace I added two more cents worth,otherwise I would go find it. I think with the pace you have decided to take in handling the rent or buy scenarios the most reasonable decisions will be revealed to you as time passes.
Participant“Or should we just rent forever (doesn’t seem like a bad option, less headaches). Pertinax”
On another thread I actually recommended the possibilites of seniors renting it out for the “duration”( sorry for the morbidity) as being a potentially wise move.Like for many people renting brings up quality of life issues for me, but it would depend on the trade offs I guess.
This is what I would think about if in your shoes…
As long as you can afford to start here as a “happy renter” you are doing fine. What would be your plan “B” if the area you mention doesn’t meet your expectations for price. If you want to live here even if you ideal property can’t be had according to your parameters and renting became problematic? In that case would you want to live anywhere other than San Diego or just move to another less expensive neighborhood here?I love San Diego and was indoctrinated to this place when liberty station was boot camp for me. Personally I’d rather be in Bay Park if Point Loma were kept out of the equation.
Participant“Or should we just rent forever (doesn’t seem like a bad option, less headaches). Pertinax”
On another thread I actually recommended the possibilites of seniors renting it out for the “duration”( sorry for the morbidity) as being a potentially wise move.Like for many people renting brings up quality of life issues for me, but it would depend on the trade offs I guess.
This is what I would think about if in your shoes…
As long as you can afford to start here as a “happy renter” you are doing fine. What would be your plan “B” if the area you mention doesn’t meet your expectations for price. If you want to live here even if you ideal property can’t be had according to your parameters and renting became problematic? In that case would you want to live anywhere other than San Diego or just move to another less expensive neighborhood here?I love San Diego and was indoctrinated to this place when liberty station was boot camp for me. Personally I’d rather be in Bay Park if Point Loma were kept out of the equation.
October 10, 2007 at 11:03 AM in reply to: So you still think that a 50% correction or more is crazy??? #87800ParticipantYou bet,
This is way to grandiose for me to say but I will do it anyway. We want to be good investors, not prognosticators beyond the scope of what we are trying to accomplish. Something about forest and trees follows I guess?
October 10, 2007 at 11:03 AM in reply to: So you still think that a 50% correction or more is crazy??? #87805ParticipantYou bet,
This is way to grandiose for me to say but I will do it anyway. We want to be good investors, not prognosticators beyond the scope of what we are trying to accomplish. Something about forest and trees follows I guess?
October 10, 2007 at 10:41 AM in reply to: So you still think that a 50% correction or more is crazy??? #87778Participant“You know, in all the MSM blurbs I read about the housing crash, there is always some comment like ‘recovery late ’08, maybe early ’09’.”
“Am I missing something?”
If we have a radical alignment downward in prices we could see a “relative” recovery. That is relative to today 2009 could be an improved market from the numbers standpoint but even if it isn’t there “could” be “good to buy” properties out there…maybe even some deals as good as it will ever get.
I am not waiting or recomending waiting until there is wide proof of a “recovery” to buy. I didn’t in the 90’s and I won’t do that now. So many people I know did fantastic with investments and personal residences they purchased in 92′-98′ with 98′, or there abouts, being the official bottom of the market.
I read the article JWM has posted on this thread and the recent stuff Rich, Artifact, sdr and others have posted here it is very clear that that macaroni is hitting the fan. It isn’t really worth looking for “good to buy” properties yet, at least for average home buyers and average small time investors like me. I know you guys already know that. I am just saying it because I don’t want to get accused of being a shill for the above paragraphs.
Oh yes, I like to joke about a 50% correction but I don’t expect we will see a broad 50% correction as long as we are a first world country.Maybe the relative “wealth factor”. of the house comes down that much. I have always said that I expected dramatic “chunks” to come off starting when we had that converstion on sdr’s thread,the charts and stats seem to being showing it.I take a wait and see attitude on the final answer as to the overall correction. Applying what someone here said about the stock market, there are too many ways to be wrong.
October 10, 2007 at 10:41 AM in reply to: So you still think that a 50% correction or more is crazy??? #87783Participant“You know, in all the MSM blurbs I read about the housing crash, there is always some comment like ‘recovery late ’08, maybe early ’09’.”
“Am I missing something?”
If we have a radical alignment downward in prices we could see a “relative” recovery. That is relative to today 2009 could be an improved market from the numbers standpoint but even if it isn’t there “could” be “good to buy” properties out there…maybe even some deals as good as it will ever get.
I am not waiting or recomending waiting until there is wide proof of a “recovery” to buy. I didn’t in the 90’s and I won’t do that now. So many people I know did fantastic with investments and personal residences they purchased in 92′-98′ with 98′, or there abouts, being the official bottom of the market.
I read the article JWM has posted on this thread and the recent stuff Rich, Artifact, sdr and others have posted here it is very clear that that macaroni is hitting the fan. It isn’t really worth looking for “good to buy” properties yet, at least for average home buyers and average small time investors like me. I know you guys already know that. I am just saying it because I don’t want to get accused of being a shill for the above paragraphs.
Oh yes, I like to joke about a 50% correction but I don’t expect we will see a broad 50% correction as long as we are a first world country.Maybe the relative “wealth factor”. of the house comes down that much. I have always said that I expected dramatic “chunks” to come off starting when we had that converstion on sdr’s thread,the charts and stats seem to being showing it.I take a wait and see attitude on the final answer as to the overall correction. Applying what someone here said about the stock market, there are too many ways to be wrong.
ParticipantTell the truth. You buried a little upside down statue in the yard, didn’t you?
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