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patientrenter
ParticipantBuyerWill is exactly correct. There is no reason for a collapse in home prices to create any net increase in homelessness. If all home prices dropped by 90% tomorrow, there would be exactly the same number of houses as there are today. All that would happen is that people would pay different amounts to live in them, and maybe some people would buy more houses (investors), and others would rent more (residents-to-be without downpayments).
Patient renter in OC
ParticipantBuyerWill is exactly correct. There is no reason for a collapse in home prices to create any net increase in homelessness. If all home prices dropped by 90% tomorrow, there would be exactly the same number of houses as there are today. All that would happen is that people would pay different amounts to live in them, and maybe some people would buy more houses (investors), and others would rent more (residents-to-be without downpayments).
Patient renter in OC
ParticipantBuyerWill is exactly correct. There is no reason for a collapse in home prices to create any net increase in homelessness. If all home prices dropped by 90% tomorrow, there would be exactly the same number of houses as there are today. All that would happen is that people would pay different amounts to live in them, and maybe some people would buy more houses (investors), and others would rent more (residents-to-be without downpayments).
Patient renter in OC
ParticipantHLS, what happens if a newly empowered govt agency offers to lend $600K to anyone who wants to pay that much for that $350K house, on which the current owner owes $500K?
Patient renter in OC
ParticipantHLS, what happens if a newly empowered govt agency offers to lend $600K to anyone who wants to pay that much for that $350K house, on which the current owner owes $500K?
Patient renter in OC
ParticipantHLS, what happens if a newly empowered govt agency offers to lend $600K to anyone who wants to pay that much for that $350K house, on which the current owner owes $500K?
Patient renter in OC
ParticipantHLS, what happens if a newly empowered govt agency offers to lend $600K to anyone who wants to pay that much for that $350K house, on which the current owner owes $500K?
Patient renter in OC
ParticipantHLS, what happens if a newly empowered govt agency offers to lend $600K to anyone who wants to pay that much for that $350K house, on which the current owner owes $500K?
Patient renter in OC
ParticipantIt’ll be interesting to see how this plays out.
In any reasonably free-market system, house prices in So Cal would go down by 50%. But govt reps, desperate to please the majority of voters, will be pulling every lever in the govt control room to prevent big price decreases.
The govt. “nuclear option” is to just lend unlimited amounts of govt money directly to homeowners. By dialing down the downpayment and income and repayment and other requirements, home prices could be pushed up a lot in the short term, and by a significant amount permanently. Of course the program would eventually take large losses, but dumping future losses on the biggest taxpayers (a small minority of the population) is much preferable to most voters than a current loss in their housing ATM/retirement plan.
Think the nuclear option is just a pipedream? People are already working on it: http://www.bloomberg.com/apps/news?pid=20601109&sid=aBahn5eH_8cI&refer=home. We’re on a knife-edge between 50% drops and a renewal of the madness of the past 10 years.
Patient renter in OC
ParticipantIt’ll be interesting to see how this plays out.
In any reasonably free-market system, house prices in So Cal would go down by 50%. But govt reps, desperate to please the majority of voters, will be pulling every lever in the govt control room to prevent big price decreases.
The govt. “nuclear option” is to just lend unlimited amounts of govt money directly to homeowners. By dialing down the downpayment and income and repayment and other requirements, home prices could be pushed up a lot in the short term, and by a significant amount permanently. Of course the program would eventually take large losses, but dumping future losses on the biggest taxpayers (a small minority of the population) is much preferable to most voters than a current loss in their housing ATM/retirement plan.
Think the nuclear option is just a pipedream? People are already working on it: http://www.bloomberg.com/apps/news?pid=20601109&sid=aBahn5eH_8cI&refer=home. We’re on a knife-edge between 50% drops and a renewal of the madness of the past 10 years.
Patient renter in OC
ParticipantIt’ll be interesting to see how this plays out.
In any reasonably free-market system, house prices in So Cal would go down by 50%. But govt reps, desperate to please the majority of voters, will be pulling every lever in the govt control room to prevent big price decreases.
The govt. “nuclear option” is to just lend unlimited amounts of govt money directly to homeowners. By dialing down the downpayment and income and repayment and other requirements, home prices could be pushed up a lot in the short term, and by a significant amount permanently. Of course the program would eventually take large losses, but dumping future losses on the biggest taxpayers (a small minority of the population) is much preferable to most voters than a current loss in their housing ATM/retirement plan.
Think the nuclear option is just a pipedream? People are already working on it: http://www.bloomberg.com/apps/news?pid=20601109&sid=aBahn5eH_8cI&refer=home. We’re on a knife-edge between 50% drops and a renewal of the madness of the past 10 years.
Patient renter in OC
ParticipantIt’ll be interesting to see how this plays out.
In any reasonably free-market system, house prices in So Cal would go down by 50%. But govt reps, desperate to please the majority of voters, will be pulling every lever in the govt control room to prevent big price decreases.
The govt. “nuclear option” is to just lend unlimited amounts of govt money directly to homeowners. By dialing down the downpayment and income and repayment and other requirements, home prices could be pushed up a lot in the short term, and by a significant amount permanently. Of course the program would eventually take large losses, but dumping future losses on the biggest taxpayers (a small minority of the population) is much preferable to most voters than a current loss in their housing ATM/retirement plan.
Think the nuclear option is just a pipedream? People are already working on it: http://www.bloomberg.com/apps/news?pid=20601109&sid=aBahn5eH_8cI&refer=home. We’re on a knife-edge between 50% drops and a renewal of the madness of the past 10 years.
Patient renter in OC
ParticipantIt’ll be interesting to see how this plays out.
In any reasonably free-market system, house prices in So Cal would go down by 50%. But govt reps, desperate to please the majority of voters, will be pulling every lever in the govt control room to prevent big price decreases.
The govt. “nuclear option” is to just lend unlimited amounts of govt money directly to homeowners. By dialing down the downpayment and income and repayment and other requirements, home prices could be pushed up a lot in the short term, and by a significant amount permanently. Of course the program would eventually take large losses, but dumping future losses on the biggest taxpayers (a small minority of the population) is much preferable to most voters than a current loss in their housing ATM/retirement plan.
Think the nuclear option is just a pipedream? People are already working on it: http://www.bloomberg.com/apps/news?pid=20601109&sid=aBahn5eH_8cI&refer=home. We’re on a knife-edge between 50% drops and a renewal of the madness of the past 10 years.
Patient renter in OC
Participantcontraman, not paying any taxes on the gain on sale of the properties, and transferring all the monies over to your 410k plan, is perfectly justified as long as your 401k plan was the legal owner of the properties.
How did your 401k take tax deductions on the interest and other expenses of property ownership before you sold? And how did you get a bank to lend money to your 401k to buy it in the first place?
I am fascinated by the idea that every wealthy person in the US is doing this, whatever THIS is.
Patient renter in OC
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