[UCGal]

I would be curious to see if the people you say have had their tax assessment lowered are able to SELL their condos at the higher prices. That would be more valid data as to whether the tax assessor is doing their job appropriately.

I could list my house for $2M. I wouldn’t get it – but I could list it for that.

[UCGal]

I would be curious to see if the people you say have had their tax assessment lowered are able to SELL their condos at the higher prices. That would be more valid data as to whether the tax assessor is doing their job appropriately.

I could list my house for $2M. I wouldn’t get it – but I could list it for that.

[UCGal]

I would be curious to see if the people you say have had their tax assessment lowered are able to SELL their condos at the higher prices. That would be more valid data as to whether the tax assessor is doing their job appropriately.

I could list my house for $2M. I wouldn’t get it – but I could list it for that.

[UCGal]

[quote=scaredycat]that gold chart looks a lot different and less bubbly in inflation adjusted dollars.[/quote]
That may be – but if you look at a stock chart – they don’t adjust for inflation. It’s pretty standard to just show the price in non-inflation adjusted terms.

[UCGal]

[quote=scaredycat]that gold chart looks a lot different and less bubbly in inflation adjusted dollars.[/quote]
That may be – but if you look at a stock chart – they don’t adjust for inflation. It’s pretty standard to just show the price in non-inflation adjusted terms.

[UCGal]

[quote=scaredycat]that gold chart looks a lot different and less bubbly in inflation adjusted dollars.[/quote]
That may be – but if you look at a stock chart – they don’t adjust for inflation. It’s pretty standard to just show the price in non-inflation adjusted terms.

[UCGal]

[quote=scaredycat]that gold chart looks a lot different and less bubbly in inflation adjusted dollars.[/quote]
That may be – but if you look at a stock chart – they don’t adjust for inflation. It’s pretty standard to just show the price in non-inflation adjusted terms.

[UCGal]

[quote=scaredycat]that gold chart looks a lot different and less bubbly in inflation adjusted dollars.[/quote]
That may be – but if you look at a stock chart – they don’t adjust for inflation. It’s pretty standard to just show the price in non-inflation adjusted terms.

[UCGal]

Housing : I agree with Eugene… Lower end will be stable, mid/upper end will show weakness. Volumes might increase IFF inventory opens a bit.

Job : The overall employment numbers will show improvement. Meaning unemployed people will find jobs. However, this will be countered by the income numbers showing a decline. People will be willing to take much lower paying jobs when their benefits and savings run out. Former high wage earners will learn to tighten their belts, change careers, etc.

Gold : The bubble will continue to inflate for the first half, then start to deflate in the second half.

Strength of US $ : No clue but I’m hoping it gets stronger than currently. (It’s not that strong right now, IMO). I’d love to see the exchange rate against the Euro improve since I want to go visit distant family this summer.

[UCGal]

Housing : I agree with Eugene… Lower end will be stable, mid/upper end will show weakness. Volumes might increase IFF inventory opens a bit.

Job : The overall employment numbers will show improvement. Meaning unemployed people will find jobs. However, this will be countered by the income numbers showing a decline. People will be willing to take much lower paying jobs when their benefits and savings run out. Former high wage earners will learn to tighten their belts, change careers, etc.

Gold : The bubble will continue to inflate for the first half, then start to deflate in the second half.

Strength of US $ : No clue but I’m hoping it gets stronger than currently. (It’s not that strong right now, IMO). I’d love to see the exchange rate against the Euro improve since I want to go visit distant family this summer.

[UCGal]

Housing : I agree with Eugene… Lower end will be stable, mid/upper end will show weakness. Volumes might increase IFF inventory opens a bit.

Job : The overall employment numbers will show improvement. Meaning unemployed people will find jobs. However, this will be countered by the income numbers showing a decline. People will be willing to take much lower paying jobs when their benefits and savings run out. Former high wage earners will learn to tighten their belts, change careers, etc.

Gold : The bubble will continue to inflate for the first half, then start to deflate in the second half.

Strength of US $ : No clue but I’m hoping it gets stronger than currently. (It’s not that strong right now, IMO). I’d love to see the exchange rate against the Euro improve since I want to go visit distant family this summer.

[UCGal]

Housing : I agree with Eugene… Lower end will be stable, mid/upper end will show weakness. Volumes might increase IFF inventory opens a bit.

Job : The overall employment numbers will show improvement. Meaning unemployed people will find jobs. However, this will be countered by the income numbers showing a decline. People will be willing to take much lower paying jobs when their benefits and savings run out. Former high wage earners will learn to tighten their belts, change careers, etc.

Gold : The bubble will continue to inflate for the first half, then start to deflate in the second half.

Strength of US $ : No clue but I’m hoping it gets stronger than currently. (It’s not that strong right now, IMO). I’d love to see the exchange rate against the Euro improve since I want to go visit distant family this summer.

[UCGal]

Housing : I agree with Eugene… Lower end will be stable, mid/upper end will show weakness. Volumes might increase IFF inventory opens a bit.

Job : The overall employment numbers will show improvement. Meaning unemployed people will find jobs. However, this will be countered by the income numbers showing a decline. People will be willing to take much lower paying jobs when their benefits and savings run out. Former high wage earners will learn to tighten their belts, change careers, etc.

Gold : The bubble will continue to inflate for the first half, then start to deflate in the second half.

Strength of US $ : No clue but I’m hoping it gets stronger than currently. (It’s not that strong right now, IMO). I’d love to see the exchange rate against the Euro improve since I want to go visit distant family this summer.

[UCGal]

So, this guy was basically an insurance salesman… How did he ever feel entitled to $2M worth of home?

[quote=ucodegen]

They spent $250,000 of their savings on design and grading.

Again.. a loan is not savings!! That is also a lot of money for design and grading.. are they trying to grade the entire 5.6 acres? [/quote]

I was struck by that also. But it actually might be a realistic figure. I’m more than a little familiar with the challenges of hillside development. (We built a companion unit on a sloped hill.) I assume this “grading and design” included the following:
* Architect
* Civil Engineer
* Soils Engineer (soils report in the beginning and to certify any compaction along the way)
* Structural engineer
* OSHA certified grading contractor.

The last kicks in (OSHA) if there are footings of a certain depth or if retaining walls are a certain height. 5 or 6 feet from top of wall to bottom of footing. If you’re building on a hillside, you have big retaining walls to secure the building pad. A lot of “A” contractors are not OSHA certified – so it kicks the price of the grading up a bit. (We needed it on our project because of our retaining walls.)

Our project was MUCH smaller, and my husband did the architectural design. But we were out around $30k in engineering (structural engineer(s)/civil engineer/soils report) and permits before we even hired the contractor that hired the grading sub… And grading wasn’t cheap.

[UCGal]

So, this guy was basically an insurance salesman… How did he ever feel entitled to $2M worth of home?

[quote=ucodegen]

They spent $250,000 of their savings on design and grading.

Again.. a loan is not savings!! That is also a lot of money for design and grading.. are they trying to grade the entire 5.6 acres? [/quote]

I was struck by that also. But it actually might be a realistic figure. I’m more than a little familiar with the challenges of hillside development. (We built a companion unit on a sloped hill.) I assume this “grading and design” included the following:
* Architect
* Civil Engineer
* Soils Engineer (soils report in the beginning and to certify any compaction along the way)
* Structural engineer
* OSHA certified grading contractor.

The last kicks in (OSHA) if there are footings of a certain depth or if retaining walls are a certain height. 5 or 6 feet from top of wall to bottom of footing. If you’re building on a hillside, you have big retaining walls to secure the building pad. A lot of “A” contractors are not OSHA certified – so it kicks the price of the grading up a bit. (We needed it on our project because of our retaining walls.)

Our project was MUCH smaller, and my husband did the architectural design. But we were out around $30k in engineering (structural engineer(s)/civil engineer/soils report) and permits before we even hired the contractor that hired the grading sub… And grading wasn’t cheap.

[Author]

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