[patientrenter]

kev, you and I know that’s not “real”, in the sense that you or I cannot now buy a half-decent 1200sq ft condo in LN for $140K.

I am surprised to see fewer really good deals (relatively) in So OC in the last month. I’ve stopped looking, because the pickings are so slim. Are you seeing the same, kev?

At this point, I’ve concluded that even the banks with REOs are banking on a spring bounce, or maybe a bailout, and are holding out for higher prices than the few (relatively) good deals I saw in early January. I only check new listings maybe once a week now, instead of daily in the first half of January.

Patient renter in OC

[patientrenter]

kev, you and I know that’s not “real”, in the sense that you or I cannot now buy a half-decent 1200sq ft condo in LN for $140K.

I am surprised to see fewer really good deals (relatively) in So OC in the last month. I’ve stopped looking, because the pickings are so slim. Are you seeing the same, kev?

At this point, I’ve concluded that even the banks with REOs are banking on a spring bounce, or maybe a bailout, and are holding out for higher prices than the few (relatively) good deals I saw in early January. I only check new listings maybe once a week now, instead of daily in the first half of January.

Patient renter in OC

[patientrenter]

kev, you and I know that’s not “real”, in the sense that you or I cannot now buy a half-decent 1200sq ft condo in LN for $140K.

I am surprised to see fewer really good deals (relatively) in So OC in the last month. I’ve stopped looking, because the pickings are so slim. Are you seeing the same, kev?

At this point, I’ve concluded that even the banks with REOs are banking on a spring bounce, or maybe a bailout, and are holding out for higher prices than the few (relatively) good deals I saw in early January. I only check new listings maybe once a week now, instead of daily in the first half of January.

Patient renter in OC

[patientrenter]

kev, you and I know that’s not “real”, in the sense that you or I cannot now buy a half-decent 1200sq ft condo in LN for $140K.

I am surprised to see fewer really good deals (relatively) in So OC in the last month. I’ve stopped looking, because the pickings are so slim. Are you seeing the same, kev?

At this point, I’ve concluded that even the banks with REOs are banking on a spring bounce, or maybe a bailout, and are holding out for higher prices than the few (relatively) good deals I saw in early January. I only check new listings maybe once a week now, instead of daily in the first half of January.

Patient renter in OC

[patientrenter]

The great deflation vs inflation debate.

In a free-market economy, with the state we’re in today – way over-borrowed – deflation is the clear outcome.

But we absolutely do not live in a free-market economy. Inflation seems to be the easiest way for most homeowners (= most voters) to default (in terms of real value) on their mortgages whilst keeping their homes. I’ve concluded that whatever makes the vast majority of voters happiest is what ultimately happens.

Saying that we’ll have deflation and that the resulting crisis in the home mortgage markets will be resolved by a govt bail-out instead just begs the question of what’s next. A bail-out moves responsibility to the govt for repaying all the investors in mortgages. A lot of those investors are foreign. Repaying them will become burdensome, and that next problem will then be solved through…… you got it! Inflation.

Patient renter in OC

[patientrenter]

The great deflation vs inflation debate.

In a free-market economy, with the state we’re in today – way over-borrowed – deflation is the clear outcome.

But we absolutely do not live in a free-market economy. Inflation seems to be the easiest way for most homeowners (= most voters) to default (in terms of real value) on their mortgages whilst keeping their homes. I’ve concluded that whatever makes the vast majority of voters happiest is what ultimately happens.

Saying that we’ll have deflation and that the resulting crisis in the home mortgage markets will be resolved by a govt bail-out instead just begs the question of what’s next. A bail-out moves responsibility to the govt for repaying all the investors in mortgages. A lot of those investors are foreign. Repaying them will become burdensome, and that next problem will then be solved through…… you got it! Inflation.

Patient renter in OC

[patientrenter]

The great deflation vs inflation debate.

In a free-market economy, with the state we’re in today – way over-borrowed – deflation is the clear outcome.

But we absolutely do not live in a free-market economy. Inflation seems to be the easiest way for most homeowners (= most voters) to default (in terms of real value) on their mortgages whilst keeping their homes. I’ve concluded that whatever makes the vast majority of voters happiest is what ultimately happens.

Saying that we’ll have deflation and that the resulting crisis in the home mortgage markets will be resolved by a govt bail-out instead just begs the question of what’s next. A bail-out moves responsibility to the govt for repaying all the investors in mortgages. A lot of those investors are foreign. Repaying them will become burdensome, and that next problem will then be solved through…… you got it! Inflation.

Patient renter in OC

[patientrenter]

The great deflation vs inflation debate.

In a free-market economy, with the state we’re in today – way over-borrowed – deflation is the clear outcome.

But we absolutely do not live in a free-market economy. Inflation seems to be the easiest way for most homeowners (= most voters) to default (in terms of real value) on their mortgages whilst keeping their homes. I’ve concluded that whatever makes the vast majority of voters happiest is what ultimately happens.

Saying that we’ll have deflation and that the resulting crisis in the home mortgage markets will be resolved by a govt bail-out instead just begs the question of what’s next. A bail-out moves responsibility to the govt for repaying all the investors in mortgages. A lot of those investors are foreign. Repaying them will become burdensome, and that next problem will then be solved through…… you got it! Inflation.

Patient renter in OC

[patientrenter]

The great deflation vs inflation debate.

In a free-market economy, with the state we’re in today – way over-borrowed – deflation is the clear outcome.

But we absolutely do not live in a free-market economy. Inflation seems to be the easiest way for most homeowners (= most voters) to default (in terms of real value) on their mortgages whilst keeping their homes. I’ve concluded that whatever makes the vast majority of voters happiest is what ultimately happens.

Saying that we’ll have deflation and that the resulting crisis in the home mortgage markets will be resolved by a govt bail-out instead just begs the question of what’s next. A bail-out moves responsibility to the govt for repaying all the investors in mortgages. A lot of those investors are foreign. Repaying them will become burdensome, and that next problem will then be solved through…… you got it! Inflation.

Patient renter in OC

[patientrenter]

Allan, here’s a reference for you on the ammo design problem (as distinct from the ammo supply problem) at Isandlwana, just in case you hadn’t found one yet.

http://en.wikipedia.org/wiki/Martini-Henry

“The weapon is partly blamed for the defeat of British troops at Isandlwana prior to Rorke’s Drift (in addition to poor tactics and numerical inferiority) – while the Martini-Henry was state of the art, in the African climate the action tended to overheat and foul after heavy use. It would eventually become difficult to move the breech block and reload the rifle. After investigating the matter, the British Army Ordnance Department determined the fragile construction of the rolled brass cartridge and fouling due to the black powder propellant were the main causes of this problem. To correct this, the cartridge was switched from weak rolled brass to stronger drawn brass, and a longer loading lever was incorporated to apply greater torque to operate the mechanism when fouled. These later variants were highly reliable in battle.”

Patient renter in OC

[patientrenter]

Allan, here’s a reference for you on the ammo design problem (as distinct from the ammo supply problem) at Isandlwana, just in case you hadn’t found one yet.

http://en.wikipedia.org/wiki/Martini-Henry

“The weapon is partly blamed for the defeat of British troops at Isandlwana prior to Rorke’s Drift (in addition to poor tactics and numerical inferiority) – while the Martini-Henry was state of the art, in the African climate the action tended to overheat and foul after heavy use. It would eventually become difficult to move the breech block and reload the rifle. After investigating the matter, the British Army Ordnance Department determined the fragile construction of the rolled brass cartridge and fouling due to the black powder propellant were the main causes of this problem. To correct this, the cartridge was switched from weak rolled brass to stronger drawn brass, and a longer loading lever was incorporated to apply greater torque to operate the mechanism when fouled. These later variants were highly reliable in battle.”

Patient renter in OC

[patientrenter]

Allan, here’s a reference for you on the ammo design problem (as distinct from the ammo supply problem) at Isandlwana, just in case you hadn’t found one yet.

http://en.wikipedia.org/wiki/Martini-Henry

“The weapon is partly blamed for the defeat of British troops at Isandlwana prior to Rorke’s Drift (in addition to poor tactics and numerical inferiority) – while the Martini-Henry was state of the art, in the African climate the action tended to overheat and foul after heavy use. It would eventually become difficult to move the breech block and reload the rifle. After investigating the matter, the British Army Ordnance Department determined the fragile construction of the rolled brass cartridge and fouling due to the black powder propellant were the main causes of this problem. To correct this, the cartridge was switched from weak rolled brass to stronger drawn brass, and a longer loading lever was incorporated to apply greater torque to operate the mechanism when fouled. These later variants were highly reliable in battle.”

Patient renter in OC

[patientrenter]

Allan, here’s a reference for you on the ammo design problem (as distinct from the ammo supply problem) at Isandlwana, just in case you hadn’t found one yet.

http://en.wikipedia.org/wiki/Martini-Henry

“The weapon is partly blamed for the defeat of British troops at Isandlwana prior to Rorke’s Drift (in addition to poor tactics and numerical inferiority) – while the Martini-Henry was state of the art, in the African climate the action tended to overheat and foul after heavy use. It would eventually become difficult to move the breech block and reload the rifle. After investigating the matter, the British Army Ordnance Department determined the fragile construction of the rolled brass cartridge and fouling due to the black powder propellant were the main causes of this problem. To correct this, the cartridge was switched from weak rolled brass to stronger drawn brass, and a longer loading lever was incorporated to apply greater torque to operate the mechanism when fouled. These later variants were highly reliable in battle.”

Patient renter in OC

[patientrenter]

Allan, here’s a reference for you on the ammo design problem (as distinct from the ammo supply problem) at Isandlwana, just in case you hadn’t found one yet.

http://en.wikipedia.org/wiki/Martini-Henry

“The weapon is partly blamed for the defeat of British troops at Isandlwana prior to Rorke’s Drift (in addition to poor tactics and numerical inferiority) – while the Martini-Henry was state of the art, in the African climate the action tended to overheat and foul after heavy use. It would eventually become difficult to move the breech block and reload the rifle. After investigating the matter, the British Army Ordnance Department determined the fragile construction of the rolled brass cartridge and fouling due to the black powder propellant were the main causes of this problem. To correct this, the cartridge was switched from weak rolled brass to stronger drawn brass, and a longer loading lever was incorporated to apply greater torque to operate the mechanism when fouled. These later variants were highly reliable in battle.”

Patient renter in OC

[patientrenter]

Ozzie, if rent for a home like yours is $4,500 / month, then your home can be sold for well over a million dollars. If you sold, I am pretty sure you could get at least $3,000 / month in tax-free munis on that million dollars over the next 4 years. You’d also save on property taxes and maintenance. That means your net cost for renting for the next 4 years would be less than $70K. This seems small compared to the likely depreciation you’ll suffer if you stay.

Saving a few hundred grand doesn’t seem important compared to the depreciation you’ll avoid if you sell? You must be very well off to not care about saving a few hundred grand. I’ll give you my address so you can mail me a refund check when my tax dollars are used to bail you out!

The only reason not to sell, besides not needing to care about money, is if you’re already almost underwater on your mortgages. Then you may as well hold on and bail for free if prices keep going down.

Patient renter in OC

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