[spdrun]

The areas that have risen quickly over the past 4 years are not the kind of areas that were within reach of millennial twitter-twits to begin with. Activity was more driven by investors, Wall St, and tech money, depending on area.

The areas and cities within reach haven’t risen as quickly. Also, if you think that free Fed money doesn’t have a part in it, think how millennials will afford homes in already poorly affordable markets at higher rates. Something has to give.

[spdrun]

Their whinging helps change government policy to immigration and depress prices for labor… 😉

[spdrun]

Knowing the speed of government projects — in 5-10 years.

[spdrun]

They say 6500 jobs, in a metro area with what, 10 million people?

And so far, millennial twitter-twits are NOT buying. Fortunately.

Labor for construction isn’t a major issue — lots of immigrants happy to do what Americans don’t want to do. And they’re not only Mexicans.

[spdrun]

You’ve given the thieves at the bank way too much information already, so it might be too late. You’re not buying this as an investment, but with actual intent to occupy.

But, a jumbo loan is not Federally guaranteed, so somewhat more flexible. Can you get the bank to give you say 120 days of leaseback, push closing to late January, which would give you till almost May?

[spdrun]

What the bank doesn’t know can’t hurt it. Why did you even mention this? You intend to move into the residence as a primary, end of story. What you do after closing is not their damn business.

Some people are way too eager to disclose the whole story to a big corporation which likely won’t give them the same level of honesty.

Other option is to get a loan as an investment property, then refi into a primary mortgage in May.

Lastly, 60 days will take you almost through February. You might consider having trouble evicting them for a few months 😉

[spdrun]

If suburbia in SF’s equivalent of lizard country crashes and burns, that’s just fine and dandy. Sprawl is not a good thing.

[spdrun]

Why is the spread 300%? Other than maybe housing costs (probably more like 2x), the BA doesn’t cost 3x as much as Southern California.

Bay Area does have one other advantage over Southern California. It’s closer to the relatively undeveloped part of Northern California, Oregon, and the Sierras if you’re into hiking, skiing, biking, etc.

Once the sprawl ends, you’re in a truly beautiful part of the world.

[spdrun]

Well, at least keeping every skell who feels they’re entitled to a home out of the US market as a whole will prevent another bubble. That’s good.

And remember that not every market is as infested with hot money as NYC and SFBA.

[spdrun]

Millenials can’t get loans that easily. And — OOPS! — looks like Fannie Mae is bleeding again. So much for those 3% down loans for everyone. Mel the Skell is begging Congress for a bailout. Something a GOP Congress isn’t likely to want to give to Obama’s stooge…

http://www.marketwatch.com/story/fannie-freddie-may-need-to-tap-treasury-fhfa-director-says-2015-11-03

Note that I’m usually liberal, but I don’t think that your average Joe is cut out to own a home, or a dog shack for that matter.

[spdrun]

Do locals actually do that, or do they just go to happy hours to drink for cheap?

[spdrun]

I thought you need a “medical MJ card” in CA.

[spdrun]

Are cops in schools allowed to be armed?

[spdrun]

As far as the cop — one fewer parasite on the government teat. Hope he goes bankrupt and a real human gets to buy his home at the sheriff’s auction.

[spdrun]

Growth is another term for “cancer.”

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