[patientrenter]

I am not a homeowner, so I have no practical experience with the expenses. But in my own calcs, I tend to assume annual expenses of 2% of the building’s replacement cost for those once-every-few-years items, like kitchen and bathroom updates, and new roofs, wiring, plumbing etc. I figure that over 50 years, you’ll have to pretty much replace everything, unless you plan to become one of those people who live in a home that’s never updated. That excludes the annual or monthly maintenance expenses.

[patientrenter]

I am not a homeowner, so I have no practical experience with the expenses. But in my own calcs, I tend to assume annual expenses of 2% of the building’s replacement cost for those once-every-few-years items, like kitchen and bathroom updates, and new roofs, wiring, plumbing etc. I figure that over 50 years, you’ll have to pretty much replace everything, unless you plan to become one of those people who live in a home that’s never updated. That excludes the annual or monthly maintenance expenses.

[patientrenter]

I am not a homeowner, so I have no practical experience with the expenses. But in my own calcs, I tend to assume annual expenses of 2% of the building’s replacement cost for those once-every-few-years items, like kitchen and bathroom updates, and new roofs, wiring, plumbing etc. I figure that over 50 years, you’ll have to pretty much replace everything, unless you plan to become one of those people who live in a home that’s never updated. That excludes the annual or monthly maintenance expenses.

[patientrenter]

I am not a homeowner, so I have no practical experience with the expenses. But in my own calcs, I tend to assume annual expenses of 2% of the building’s replacement cost for those once-every-few-years items, like kitchen and bathroom updates, and new roofs, wiring, plumbing etc. I figure that over 50 years, you’ll have to pretty much replace everything, unless you plan to become one of those people who live in a home that’s never updated. That excludes the annual or monthly maintenance expenses.

[patientrenter]

EconProf, I had assumed you’d invested, net, at the peak, but it sounds like you actually disinvested on a net basis. (When you bought your primary residence you sold a prior primary, and you sold investment properties without repurchasing.)

[patientrenter]

EconProf, I had assumed you’d invested, net, at the peak, but it sounds like you actually disinvested on a net basis. (When you bought your primary residence you sold a prior primary, and you sold investment properties without repurchasing.)

[patientrenter]

EconProf, I had assumed you’d invested, net, at the peak, but it sounds like you actually disinvested on a net basis. (When you bought your primary residence you sold a prior primary, and you sold investment properties without repurchasing.)

[patientrenter]

EconProf, I had assumed you’d invested, net, at the peak, but it sounds like you actually disinvested on a net basis. (When you bought your primary residence you sold a prior primary, and you sold investment properties without repurchasing.)

[patientrenter]

EconProf, I had assumed you’d invested, net, at the peak, but it sounds like you actually disinvested on a net basis. (When you bought your primary residence you sold a prior primary, and you sold investment properties without repurchasing.)

[patientrenter]

[quote=CONCHO]….I’ve never heard a single politician run on a platform of keeping home prices high….[/quote]

I think Chris Dodd and Barney Frank have made it pretty clear that is their priority. Of course, no one comes out and says that they want homes to be overpriced, or artificially manipulated up. Instead, they talk about the need for a “stable” market during natural downturns, and “more affordability” (read: cheap easy money) during upturns. Same outcome -higher home prices.

[patientrenter]

[quote=CONCHO]….I’ve never heard a single politician run on a platform of keeping home prices high….[/quote]

I think Chris Dodd and Barney Frank have made it pretty clear that is their priority. Of course, no one comes out and says that they want homes to be overpriced, or artificially manipulated up. Instead, they talk about the need for a “stable” market during natural downturns, and “more affordability” (read: cheap easy money) during upturns. Same outcome -higher home prices.

[patientrenter]

[quote=CONCHO]….I’ve never heard a single politician run on a platform of keeping home prices high….[/quote]

I think Chris Dodd and Barney Frank have made it pretty clear that is their priority. Of course, no one comes out and says that they want homes to be overpriced, or artificially manipulated up. Instead, they talk about the need for a “stable” market during natural downturns, and “more affordability” (read: cheap easy money) during upturns. Same outcome -higher home prices.

[patientrenter]

[quote=CONCHO]….I’ve never heard a single politician run on a platform of keeping home prices high….[/quote]

I think Chris Dodd and Barney Frank have made it pretty clear that is their priority. Of course, no one comes out and says that they want homes to be overpriced, or artificially manipulated up. Instead, they talk about the need for a “stable” market during natural downturns, and “more affordability” (read: cheap easy money) during upturns. Same outcome -higher home prices.

[patientrenter]

[quote=CONCHO]….I’ve never heard a single politician run on a platform of keeping home prices high….[/quote]

I think Chris Dodd and Barney Frank have made it pretty clear that is their priority. Of course, no one comes out and says that they want homes to be overpriced, or artificially manipulated up. Instead, they talk about the need for a “stable” market during natural downturns, and “more affordability” (read: cheap easy money) during upturns. Same outcome -higher home prices.

[patientrenter]

[quote=CONCHO]…..Don’t forget the state governments. What would they do if property taxes suddenly plunged as house values reduced 50%? And don’t forget the banks. What would happen to them if they had to realize 50% losses on their mortgage portolios? The baby boomer homeowners are only a small (and not very influential) part of the pressure to keep home prices high…..[/quote]

Any very powerful and successful political movement (like the movement to keep home prices high) typically depends on two key factors, not just one:

1. A core group of people who have a lot at stake, and a lot of money. They drive the lobbying of the pols.

2. A wide group of voters committed to the cause. Even a stinky rich lobbyist isn’t going to be able to pull off a massive and broad redirection of a dozen Congressional committees and dozens of federal agencies. You need a large group of voters (and journalists etc pandering to them).

[Author]

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