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spdrun
ParticipantWhat’s an adventure-seeking boomer to DO??
Sell everything, buy some cash-flowing condos, travel the world on the proceeds?
July 7, 2012 at 3:50 PM in reply to: Signal for recovery in housing & the economy in general #747431ParticipantWe MAY be in recovery. But as long as you can get the cap rate you want from a property/have it cash-flow decently or break even after mortgage, who gives a rodent’s bee-hind about recovery status.
De-rate the rent by 20-25% to account for vacancy and future decreases (rent right now may be a Bubble) of course.
Participantgiven avoidance of children, we pretty much rule out the entire 56 corridor from the ocean to route 67.
Why would one want to actively avoid areas with kids? It’s not like kids eat geezers for lunch.
ParticipantIf I buy a new car (say a BRZ) with a real transmission today, I’d expect it to last me another 50 years, whereupon I’ll be driving a wheelchair if we don’t run out of oil first.
Or I could always go the kit car route. IMHO, automatics are only good for teen girls who like to have a hand free to yapp on their cell, text, and surf MyFace.
But none of the above has anything to do with the article I posted 🙂 And no, I really don’t care that the Nintendomatic shifts in 0.00001 seconds. I like computers. But I don’t want to feel like I’m driving one.
And lastly, I’m not a startup jock. I’m just an engineer who happens to be putting his talents to good use on a freelance/consulting basis. While also being interested in buying up enough property to give the benefits of a full-time job without the drawbacks of being someone’s b*tch 45 hours a week.
ParticipantI don’t disagree … note that I don’t live in one of those “hacker hostels” and have ZERO desire to do so! Though I’d say that living in one is more like living as a peasant than as a “hermit.” I find nothing romantic about the idea, especially since most of the romance going on in those spaces is likely to be bromance.
This being said, if I found the right space and felt I could get away with it, I’d be more than happy to RUN a “hostel” till the landlord gave us the boot. Note that most people who made it big during the gold rush did so by supporting the miners, not by mining themselves. And that’s the way it usually is.
Disagreed about the stick shift track car, though. The day I get an automatic will be the day after my left foot gets cut off in a tragic accident. Automatics are for people who can’t drive 😀 I’d tolerate two pedals in an electric car, that’s about it.
ParticipantThanks for reviving this thread — the East vs West (in both senses) back-and-forth is HILARIOUS.
ParticipantLaguna Woods, aka former Leisure World, aka seizure world, aka geezer world, has a known practice where neighbors would raid a unit following an ambulance departure.
Wonder if “built-in booby traps” (set on a time delay so paramedics don’t get hurt) could be a selling point in new elder housing. Perhaps I should patent the idea…
But I don’t know why anyone in their right mind would want to spend their final years surrounded by a bunch of f**kin’ has-been geezers. I’d move to one of the beach cities and enjoy the “views.” Or to Eastern Europe where it’s relatively cheap to live, if I were truly broke.
ParticipantIf so, that’s a GOOD thing. Same situation exists with residential properties in NYC vis a vis surrounding areas. Property tax is a regressive tax, whereas income tax is generally progressive.
ParticipantOut of curiosity, are Philly property taxes higher or lower than surrounding counties? This article seems to imply that they’re pretty low, and will remain modest even after revaluation:
http://blogs.phillymag.com/the_philly_post/2012/05/22/philadelphia-property-tax-hike/
ParticipantI don’t see Philly as a dying city. Whatever dying happened was done by the mid-90s — the 70s and 80s were when a lot of industry fled. It’s more of a stagnant or only marginally improving city, but, yes, some neighborhoods did improve, following the general US trend toward re-urbanization.
And I don’t see the fact that the working class hasn’t been totally expunged from Philly as an altogether bad thing.
ParticipantExactly — so we’re in agreement 🙂 Areas change.
20-30 years ago, downtown SD, or NYC’s East Village, or Northern Liberties in Philly weren’t “places to be at night.” But things evolve, though I never considered the Northern Liberties to be all that bad even when I was in school in the 90s.
The area around the main train station in Philly was much skeevier and emptier at night.
Participantbriansd —
http://www.zillow.com/homedetails/324-Delancey-St-Philadelphia-PA-19106/10196349_zpid/
😮 Sheesh. That house is actually surprisingly EXPENSIVE — for ~$1.5MM, one could buy a brownstone in Fort Greene, Brooklyn, within spitting distance of downtown Manhattan. Taxes would be under $200/mo most likely.
Great, cute, area, lots of street life, good restaurants, two subway stops in close proximity, easy bike ride to the Manhattan Bridge, etc.
And if one is willing to go a bit further (other side of Pratt, to Bed-Stuy, which isn’t really as bad as its rep anymore), that price can fall to under $1MM. Maybe much lower.
sdrealtor —
Areas change and evolve. Keep in mind that 15-20 years ago, parts of NYC’s Lower East Side were seen as no-go zones. Now they’re quite expensive and people are even raising families there. Wasn’t San Diego’s downtown area also deprecated a few decades ago?
ParticipantSpeaking as someone who lived there 10+ years ago, Philly was never as SDR described, at least not since ’97 or so.
ParticipantCalifornia would be better off sticking together and asking to leave the US. They pay a lot more to DC than they get back. Bay Area is a strong economic/tech center — why would anyone from SoCal want to lose that income source?
Even speaking as an auslander, the North/South urination contest is counterproductive, pointless, and a distraction from the real issue above.
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