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patientrenter
Participant[quote=Nor-LA-SD-guy]On the Low to mid range homes I think we have entered a classic wall of worry situation.
I have never been a high end home type of guy to tell the truth so would not know what goes on at that level or why anyone would spend 1 Mil+ on a home.
But I guess it is nice to be at the beach etc… but if I can get there in 15 minutes to half hour and put my toes in the sand I figure I can afford the AC as well.[/quote]
Agree, NO-LA-SD-guy. My sweet spot is about 2 miles inland.
Participant[quote=Nor-LA-SD-guy]On the Low to mid range homes I think we have entered a classic wall of worry situation.
I have never been a high end home type of guy to tell the truth so would not know what goes on at that level or why anyone would spend 1 Mil+ on a home.
But I guess it is nice to be at the beach etc… but if I can get there in 15 minutes to half hour and put my toes in the sand I figure I can afford the AC as well.[/quote]
Agree, NO-LA-SD-guy. My sweet spot is about 2 miles inland.
Participant[quote=Nor-LA-SD-guy]On the Low to mid range homes I think we have entered a classic wall of worry situation.
I have never been a high end home type of guy to tell the truth so would not know what goes on at that level or why anyone would spend 1 Mil+ on a home.
But I guess it is nice to be at the beach etc… but if I can get there in 15 minutes to half hour and put my toes in the sand I figure I can afford the AC as well.[/quote]
Agree, NO-LA-SD-guy. My sweet spot is about 2 miles inland.
ParticipantI always laugh when people tell me I use too much gasoline, or too much electricity. Many of these same people have kids, sometimes more than one, sometimes more than two.
The environmental damage I do will add up over my lifetime, and then it will stop growing at my own demise. Those other folks with kids are leaving a perpetuity of environmental damage. Even if they personally do one tenth the damage I do in their lifetimes, they are arranging for the damage to continue forever. The damage they are responsible for ultimately will be far more than my little contribution.
I think our planet would be much better of with a stable population of about 500 million. Finally, open spaces, room for genuinely wild species to thrive, less trash everywhere….
Way off topic, but RE is getting boring.
ParticipantI always laugh when people tell me I use too much gasoline, or too much electricity. Many of these same people have kids, sometimes more than one, sometimes more than two.
The environmental damage I do will add up over my lifetime, and then it will stop growing at my own demise. Those other folks with kids are leaving a perpetuity of environmental damage. Even if they personally do one tenth the damage I do in their lifetimes, they are arranging for the damage to continue forever. The damage they are responsible for ultimately will be far more than my little contribution.
I think our planet would be much better of with a stable population of about 500 million. Finally, open spaces, room for genuinely wild species to thrive, less trash everywhere….
Way off topic, but RE is getting boring.
ParticipantI always laugh when people tell me I use too much gasoline, or too much electricity. Many of these same people have kids, sometimes more than one, sometimes more than two.
The environmental damage I do will add up over my lifetime, and then it will stop growing at my own demise. Those other folks with kids are leaving a perpetuity of environmental damage. Even if they personally do one tenth the damage I do in their lifetimes, they are arranging for the damage to continue forever. The damage they are responsible for ultimately will be far more than my little contribution.
I think our planet would be much better of with a stable population of about 500 million. Finally, open spaces, room for genuinely wild species to thrive, less trash everywhere….
Way off topic, but RE is getting boring.
ParticipantI always laugh when people tell me I use too much gasoline, or too much electricity. Many of these same people have kids, sometimes more than one, sometimes more than two.
The environmental damage I do will add up over my lifetime, and then it will stop growing at my own demise. Those other folks with kids are leaving a perpetuity of environmental damage. Even if they personally do one tenth the damage I do in their lifetimes, they are arranging for the damage to continue forever. The damage they are responsible for ultimately will be far more than my little contribution.
I think our planet would be much better of with a stable population of about 500 million. Finally, open spaces, room for genuinely wild species to thrive, less trash everywhere….
Way off topic, but RE is getting boring.
ParticipantI always laugh when people tell me I use too much gasoline, or too much electricity. Many of these same people have kids, sometimes more than one, sometimes more than two.
The environmental damage I do will add up over my lifetime, and then it will stop growing at my own demise. Those other folks with kids are leaving a perpetuity of environmental damage. Even if they personally do one tenth the damage I do in their lifetimes, they are arranging for the damage to continue forever. The damage they are responsible for ultimately will be far more than my little contribution.
I think our planet would be much better of with a stable population of about 500 million. Finally, open spaces, room for genuinely wild species to thrive, less trash everywhere….
Way off topic, but RE is getting boring.
Participant“It does suck for you guys, but it’s what’s happening.”
That’s a pretty fair summary.
Participant“It does suck for you guys, but it’s what’s happening.”
That’s a pretty fair summary.
Participant“It does suck for you guys, but it’s what’s happening.”
That’s a pretty fair summary.
Participant“It does suck for you guys, but it’s what’s happening.”
That’s a pretty fair summary.
Participant“It does suck for you guys, but it’s what’s happening.”
That’s a pretty fair summary.
Participantchrisp, I know there are others on this board who have that info (about historical affordability measures). Just in case they don’t cough it up quick, here are some very rough traditional ratios:
1. Home price should be no more 2-3 times income
2. Downpayment (actually from the buyer, not a second lender) should be at least 20% for an owner-occupied home, and 30% for other homes.
3. Regular home debt payments (or was it all home payments, including home insurance?) should not exceed the smaller of (a) 28% of income, or (b) 33% of all debt service obligations (including car payments and credit card payments etc.)
Relying only on 2 and 3 is risky in a low interest rate environment, because low payments can coexist with prices in the stratosphere in such an environment. So if 2 and 3 look good, but 1 doesn’t, exercise more caution.
I hope someone can give you a better source.
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