[spdrun]

Sure there is — sitting in their cars playing with themselves while claiming to “direct” traffic at a construction site. Outright time fraud also exists at least locally to me.

[spdrun]

Good. I hope we do end up back in 2009. There’s a lot of pigfat to cut from cities. Example being, overpaid cops earning $150k plus per year including fake overtime should be kicked out the door after being given their service pistol with single bullet as a going away present and polite hint about what to do.

[spdrun]

Why Temecula? A 2 or 3 bedroom condo in a decent area of SD can still be had for quite a bit south of $300k.

[spdrun]

^^^

Exactly. Don’t know where the market will end up in 10-15 years, but it will probably oscillate quite a bit in the next five. Remember that inventory was crap/prices were also high in late 2009 through 2010.

[spdrun]

I’m not convinced that there was a recent point where you could get a single-family home in decent shape (meaning: not needing $50k+ of work to be habitable) in an acceptable area for under $250k. Oceanside and Escondido possibly excepted. Believe me, I looked and would have bought in a second had the right deal come along.

Why not look for 2 and (if possible) 3-bedroom condos at this price point? Common charges and taxes are on average low enough in the SD area to make a condo not a bad deal.

[spdrun]

Hopefully, we’ll be seeing a Japan-style market crash/correction soon, with home prices following back into the toilet where they belong. “Abenomics” in Japan isn’t all powerful as we’re seeing. Hopefully, neither is QE3 over here.

As far as home prices being unaffordable, they’re not even close, since people are buying.

[spdrun]

If some dumbass is bent on robbing you or stealing your car, he doesn’t need an “invite” to a garage sale or Craigslist deal. He’ll just as soon break in to a random house that looks vacant or carjack a random driver whose car he likes at gunpoint.

[spdrun]

Don’t be a fearful little fraidy-cat is how. Speak to the people over the phone first — if they seem like scumbags, you can always be unavailable for the test drive.

Meet them in front of your house. It’s just another house, and they won’t be seeing the inside, only what’s visible from the street.

[spdrun]

Very local. A lot of Western states have risen. NYC (area, not the central city) is actually down since last year, with a pile of foreclosures hitting the market right about now. Hope to be able to play in this cesspool soon, since once the foreclosures are sold out, the area will probably go the way of CA.

No touchy-feely homeowners’ bill of rights in NJ, thought, just a hardass Republican governor who’s letting the market take its course. Yeah, re taxes are high, but not in all towns. The ones I’m interested in tend to be about 1-2% of value per annum owing to a strong manufacturing and business base.

http://www.deptofnumbers.com/asking-prices/new-york/new-york/

[spdrun]

I meant > 8% unleveraged return. About 16-17% leveraged /w 25% down.

[spdrun]

So I got a condo in SD at a nice short-sale price, about 25-30% below current market. Questions are should I:
(1) Rent it — can easily do an 8.5% cap after repair costs.
(2) Rent it and mortgage it to the tits, attempting to use the extra equity as a down-payment to buy something in NJ, where foreclosure chickens are finally coming home to roost, en masse. Braaak! Braaaak!
(3) Sell it and use the nice profit to buy something bigger and even better cash-flowing on the East Coast.

As far as Zimbabwe Ben and friends — asset/stock prices can fall even during a period of QE. Look at Nikkei, down 7.9% on Thursday. Hopefully, US markets will be hit with a similar awesome shock in the next few months. It would be fun to watch, especially from a vantage point in NYC.

[spdrun]

No justification, but the fact is that crime rates are a product of social conditions. Poor social conditions = more murder.

[spdrun]

I’m sure everyone is shocked in disbelief. Deputies accused of deleting one of the videos

This is why everyone who has a smartphone should have it set up to upload video to a cloud service. ACLU has actually put out an app, and there are other tools that allow for the same function.

Also, a lot of LEOs aren’t very bright, and don’t know that videos that were “deleted” from a mobile can be relatively UN-deleted by a determined user. Hope that the people’s lawyers are savvy enough to know this, and that we see a few corrupt cops fry in the near future. (Pity they’ll only go to jail or lose their jobs, not actually get a seat in an electric chair.)

[spdrun]

If gun laws in the UK were different, perhaps it would have been easier for THEM to get guns, and shoot a whole bunch of people down instead of hacking two to death. Native born Brits? Doesn’t the UK still prescribe hanging for treason?

[spdrun]

Adopt the Chinese solution to corrupt officials who get caught: bet it would reduce public officials’ spending of other people’s money 🙂

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