Forum Replies Created
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spdrun
ParticipantAre people really better off owning vs renting? If you own a home, you’re tied to a given geographical area, which isn’t a good thing in the current labor market.
ParticipantCA-Renter — Landlords should have good access to credit, assuming the deals make sense. Perhaps via small business loans (after all, the gov’t subsidizes other types of business).
Honestly — most Americans have no business making a $100k+ investment, especially with gov’t money. I’d rather more property be in the hands of professionals and generally smart people.
Note that heavily non-owner-occupied markets like Manhattan and San Francisco actually held their value decently during the crash. I’d trust a person out for income (not a flipper) to make a rational property purchase a lot more than a first-time buyer who gushes about the kitchen tile.
Yeah, that’s an elitist idea. So sue me.
ParticipantLike it or not, a collage education will be a lot lot cheaper soon.
The internet online collage will forever change this.
it cannot be stopped
Sitting in isolation taking Intarweb correspondence courses really doesn’t compare with interacting with professors and other students in real life. Humans were designed for personal interaction, not to sit in a room and go back and forth with some kum-pootah.
ParticipantI’d rather just have a gradual settling to norm since I’d rather not wait 10 years for a crash.
ParticipantOn the one hand, you have a liberal twit Mel Watt in charge of FHFA (even he is going incrementally, trying deeper loan mods in Detroit first, which has nothing to lose). On the other, you have Julian Castro at HUD who wants to wind down Fannie and Freddie. We also has QM come into force this year.
I think the net effect will be zero-sum. And why would you want higher prices? Wouldn’t you rather be able to buy MORE rental property and have more tenants?
My ideal world would be cheap homes and high rents.
ParticipantAs far as “minorities”, why do they deserve to own a home more than anyone else? It seems dirty to sell a home to people who can’t afford it based on their ethnicity and then have them end up being burnt.
As far as downpayments, you’re correct. Look at prices in Manhattan (where many apartment building HOA’s required 10-20% down) and Texas (where homestead laws encouraged larger down payments). No major downturn in 2008.
ParticipantSince 9/11? What about FISA? Or Hoover’s COINTELPRO program?
Some of the Hoover-era insanity from the 60s and 70s was cleaned up in the mid 70s. It seems to be cyclical. Hopefully, 1-2 years ago was another cycle peak and it will slow down for 10-20 years from here.
ParticipantBetter that they have to ask permission than be allowed to take without asking. Anything that makes law enforcement’s life even a slight bit more onerous is good in my book and a given judge’s decisions are subject to scrutiny by other judges which might just decide to throw a case out.
Culture has swung too far in the violence industry’s favor since 9/11. Time for some pushback.
ParticipantTerrorism is a bad joke of an excuse. To put things in perspective, on average less than 200 people per year have died of terrorism within the US over the past 20 years.
More than 10x that amount die of gun usage every year, yet we act shocked when someone proposes reasonable gun restrictions.
Why is the 2nd Amendment sacred and the 4th not?
ParticipantWho says that distressed inventory is needed to create a price decline? What makes today’s (or 2011’s, or 1955’s) pricing “correct”?
Just because you paid $x in cash for an item doesn’t mean it will be worth nearly $x next year. I paid $1000 cash for a laptop. I think it should still be worth $950 next year. Right.
Lastly, what % of the cash crowd actually paid all cash vs using some creative manner of financing that appeared as a cash purchase upon closing?
IMHO, we’ve already seen a 10% or more decline from peak in some areas.
Example:
Condo listed at about 90% of the peak price last year in a specific complex. No accepted offers, so far, and the sellers have indicated a willingness to negotiate by another 5% down. Yet still active on MLS.ParticipantShe’s either proven herself to be not so smart or slightly crooked. If so, why retain her or feel bad?
ParticipantMaybe she knew and was pushing you to make a higher offer because that was the minimum that could be accepted without resorting to short sale.
i.e., lower offers would have to wait for short-sale negotiations to commence or for the bank to take the home and list it as an REO.
ParticipantDepends on the amount of work. If it involved watching the kids an hour or two a day while she ran to the store and maybe an hour or two of cleaning per day (call it 3.5hr/day or 140hr/month), that would be $1680/mo at $12/hr.
Depending on the area, room could easily be “worth” $1200/mo, with food, use of car, etc, she was being “paid” $1680/mo tax-free. Especially if she had other pension income, having all major expenses handled doesn’t seem like a bad deal for her.
I don’t consider the family to be bad actors. Yeah, yeah, the state of CA would rather get taxes than have people barter, but I don’t consider that a moral question.
ParticipantNever feel guilty for asking someone to do her job. It’s her job — she’s not showing the properties out of charity. Eventually, you’ll find one and earn her a nice, fat, commission. Twelve properties is nothing.
If you feel guilty, you can always recommend her to a few friends if she’s generally competent and write her a good review online.
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