[spdrun]

svelte: it’s not where as much as what. lower-end (not necessarily bad) condos that would have been snapped up by investors at a given price in 2013 or 2014 aren’t moving as fast this year. the middle and high end markets are still moving well.

bearishgurl: agree that dual-tracking was dishonest. however, i think there should have not even been lip-service to a mod unless there were exigent circumstances involved (job loss, death in family, serious illness in family). miss a few payments outside of said circumstances, house should have gone on the block and become a REO on the MLS.

Failing to analyze and think before making an expensive leveraged investment is not a good enough excuse (IMHO).

[spdrun]

As an investor, I’d prefer another slowdown combined with a correction to somewhere between 2009 lows and today.

[spdrun]

Who says it is keeping going? Per the PPSF chart posted on here, prices per sf aren’t much different from last year. The real run-up was in 2013, and that’s past history.

Likely, the fun will begin anew soon as “people’s” HELOCs “reset” and the sales delayed by the Homerenter’s Bill of Wrongs move forward… tick-tock-tick-tock…
https://www.mainstreet.com/article/brace-for-flood-of-foreclosures-when-boom-era-helocs-turn-10
http://www.latimes.com/business/realestate/la-fi-foreclosures-surge-20150212-story.html

[spdrun]

^^^

One born every minute? He can find a 1-bedroom in the low 1000s. Why would he pay the same to share?

[spdrun]

We just come from two different sides of this issue. I will ALWAYS side with victims before criminals. Non-violent criminals whose crimes don’t affect other people are in another category for me, of course.

By siding with people who stop someone IN VIOLATION OF THE HIGHEST LAW OF THE LAND, then proceed to maim them severely, you’re siding with violent criminals of the worst kind. Talk about hypocrisy.

[spdrun]

Matches with what I saw when I helped with the purchase in Jan also – multiple offers on properties within a week of listing.

I see a lot of units sitting with price drops within 1-2 mi of where I own my rental. NOT a fast-moving market. Secondly, I was at a few well-priced open houses last week and there was virtually no traffic.

I think the higher end is still going gangbusters, with low to middle end pre-1980s property moving much slower. It certainly won’t surpass 2006 nominal levels, at least not this year.

[spdrun]

In a normal market, it’s cheaper to buy than to rent (not at parity). Tenants are paying for flexibility and maintenance.

So there certainly can be price reductions with rents at parity.

[spdrun]

I guess it’s the price of not living in a festering shithole (read: any neighborhood where you can’t walk). The answer is: be cheap in other ways. Cook at home, drive an old car, etc.

[spdrun]

He’s also overpaying for the ZIP code — he should be able to rent 400 sf in PB for well under $1500/mo.

[spdrun]

Not necessarily — it could just throw the buy:rent ratio out of kilter, limiting further rises in prices since renting would be more economical.

[spdrun]

You can still find studios in PB for under $1000/mo. I know someone who rented one for $975/mo starting in February of this year.

I’ve been looking (have a unit to rent now) and rents on existing units aren’t up much over last year. I think that a lot of high-rent NEW units are being built, but that’s a tiny % of the market.

Also, any rent increases that have occurred don’t justify the city-wide run-up in prices since 2012. The multipliers don’t exactly add up 🙂

$1600-2000 for a studio isn’t the norm, other than maybe in the “East Village” where hipster suckers with more money than brains go looking for a hopping urban environment and find overpriced boredom.

[spdrun]

personally i would never be mean verbally in any way to anyone. too easy for it to be perceived as a criminal threat.

You can do what Britt McHenry did to the desk-chick of the company that towed her car in Virginia. And by towed, I mean likely stole, since the particular firm has quite a reputation.

Be very personally insulting while only threatening to own the people in court, no physical threats. I don’t condone what she said, but I can understand why she was extremely pissed off.

[spdrun]

Instead of being mean, why not make friends with the HOA board president and speak to him/her directly? I doubt the HOA would want a leak in their building combined with an inept property manager and a crazytown owner.

[spdrun]

I would go a step further and say that most victimless crimes or crimes that endanger mainly the offender should be abolished.

Drinking in public in the absence of unruly or violent behavior? Should be 100% legal. Same with petty things like being in a park after hours, jaywalking, etc.

[spdrun]

^^^

Sometimes, there’s only one right side to be on. i.e. not the side of people who welcome a guest to this country by perpetrating grievous mayhem on him.

[Author]

Posts