The Housing Bubble

I’m also an organic farmer (of the small-scale urban sort) who uses Roundup to kill buffelgrass dead. Bermuda grass too.

Best is 50/50 mix of Roundup and Crossbow;
it will work on blackberry bushes and Bermuda grass, spray early spring, late fall
for best results.

Rancher is correct…..

Strong hint-

For those of you with fire ant problems, pour big pots of boiling water on the mound. Do at least twice.

Ants are gone.

And, much of the time, the grass survives.

And by golly, don’t forget to oil the hinges with 3-in-1 oil!

And I suppose if you dig out the grass for the patio,”

Thats what I did. they I put down down a yard of fill sand, then wet it , compact it, repeat. Mine was a brick patio on sand no concrete except at the boarders to hold it together. Alot of sand was already there I just had to re-level it. Most of the bricks were there also but were put in wrong of course. I used to landscape way long time ago. Morrison Ranch Agoura was were I did most of my work, they were flippers back then too.

If you want a Concrete patio the mason will compact the area and lay down rebar over sand.

I prefere pavers they drain water and won’t crack but are somewhat more work I suppose.

Google images Pavers for ideas.

Most folks just charge their boarders rent, ya know….

How about a data point.

What did you pay for your debt-dump?

pimp
Is being a antagonist your hobby? LOL

What are you afraid of Debt Monkey?

What did you pay for your debt-dump?

Strange that you worry so much that others *should be* feeling upset, even when they are happy.

Silly lying realtor. Still talking about feelings?

Let me redirect you. Why are you detracting from the losses associated with paying massively inflated prices for depreciating houses?

Strange that Pimpy has trouble getting that losses don’t matter in many cases to most people.

Darn… While I posted this note, my car done depreciated again… Woooooeeeee is meeee….

Cheer up JunkyMonkey…. You can always opt to dump it for whatever amount the market might fetch for you.

Strange that Pimpy assumes anyone has anything to dump. Funny pimpy. Pimpy doesn’t seem to be helping explore the nuances of the housing market/bubble. Funny pimpy

Losses on depreciating clothes are recoverable. The losses associated with paying massively inflated amounts on depreciating assets are not.

Rent for half the monthly cost of buying. Besides, rental rates are falling.

OMG macboy, you bought a car! Renting is ALWAYS better. Next thing you’re going to claim you own your own depreciating clothes too.

I’d like to rent a new crown to replace the one that just broke.

There I was, thinking that I owned the thing, then oops! Guess what popped out while I was flossing teeth last night.

“The losses associated with paying massively inflated amounts on depreciating assets are not.”

Go to a Gap store and tell me their merchandise is neither massively inflated nor destined to depreciate.

Pretty sure I have lost more money on buying new cars, clothes, furniture and sporting goods, having them depreciate/wear out, then having to buy MORE cars, clothes, etc etc, over the past 23 years than I have lost on my depreciating house.

Renting is ALWAYS better

Look! You can even rent butt ugly handbags: http://www.bagborroworsteal.com/

Losses on depreciating clothes are recoverable.

Yeah, in my house, when our clothes are fully depreciated, we put them under our pillows and the clothes fairies come in while we are sleeping and leave money so we can buy new clothes. 100% recoverable asset.

“Pretty sure I have lost more money on buying new cars, clothes, furniture and sporting goods, having them depreciate/wear out, then having to buy MORE cars, clothes, etc etc, over the past 23 years than I have lost on my depreciating house.”

And we’re pretty sure all your posts are nothing more than BS.

How does that depreciating shanty of yours fit under a pillow? Is it that small? How much did you pay per square foot?

I’d like to rent a new crown to replace the one that just broke.

There I was, thinking that I owned the thing, then oops! Guess what popped out while I was flossing teeth last night.

Oh, I thought you were talking about a tiara or something :-).

The royal “We” is used so often by our resident troll. Delusions, or multiple personality disorder?

Hey Liar,

What did you pay for your debt-dump?

Weird how Pimpy professes to know how everyone else must (or should) feel. He sounds so unhappy.

Don’t take it personal my dear DebtMonkey. You’re underwater like millions of others.

Get over it and get on with your life.

Weird how Pimpy worries for *others* about “underwater”. Sounds like he has an unhappy life.

Oops, dang, while I wrote this my liver depreciated…

Well….. like housing, it seems youre worth-less today.

Funny how Pimpy has nothing of substance to offer. Being “worthless” to a Pimpy sounds like a pretty fine thing to be

Just discussing the losses on depreciating housing.

Just how large are your losses?

But you’re happy in your worthless house!!!!

Funny How Bigsby assumes who has houses and what their value is… What a fun night.

Don’t like getting your scam exposed do you DebtMonkey?

What did you pay for your Debt-Shack?

Debtmonkey as you call her has no scam going
Yourself, opposite.

Speaking of DebtMonkeys….. How are your losses growing?

Strange how people try to distract from their losing arguments by professing to obsess about other folks’ internet handles. Funny really

Answer the question…

What did you pay for your debt shack?

More tears of joy?

Now lets get back on topic shall we?

California Housing Prices Resumed Their Downward Price Adjustment

http://picpaste.com/pics/d039f4edecda272a64d53fe7fd280007.1366254482.png

Strange that Pimpy believes anyone playing with the principles here must have a “debt shack”.

Here’s some more schooling for you.

The Housing Market “Recovery” Is A Complete Myth

http://seekingalpha.com/article/1151771-the-housing-market-recovery-is-a-complete-myth

Weird, Pimpy thinks he needs to address *me* regarding some sort of housing recovery. Pimpy must not be reading very closely. Funny Pimpy.

A complete myth…..

As long as there are no myththpellings.

Strange how Pimpy worries about what he imagines for other people’s losses, even if the other people are happy. Is Pimpy only happy if other people are unhappy? Schadenfreude by projection…

Strange how liars like MacGirl(wink) attempt to detract from the housing disaster by personalizing it…

Strange how Iwoggle engages the Straw Man. Where in this discussion has Macboy opined about the housing disaster

Back on topic…. for more tears of joy…

Contra Costa County California Housing Price Declines Resumed

http://picpaste.com/pics/1a17859d0a73ae3132cbd224cdf0096b.1366303900.png

Housing demand here is non-existent.

Happy reading.

Macboy, I think you nailed it. Did you notice you disconcerted PW got when I posted I’d paid $10/sf for my house? You would think he would be happy to hear that a 50 yr old house had depreciated. Maybe he is upset that it is still standing and providing shelter 35 years later.

The growing losses on your depreciating shack in nowhereland are yours and yours alone.

If I had a shack and if it were depreciating, why would that be a bad thing? Pimpy is trying sooo hard to have Schadenfreude.

Nobody cares about the losses on your depreciating shack. You own them.

Az Slim
Thank for another book to read.
I grew a backyard garden in the 80’s. It was the most rewarding yet back breaking labor of good health, and a testimony to we don’t appreciate the seed to our table process. It was rewarding, but this gal is older.
The book sounds like a worthwhile read.

DebtJunky,

What did you pay for your debt-dump?

I like raised beds for veggie growing. I smother the grass with cardboard and paper, then layer on shredded leaves, grass clippings, compost etc. It’s way easier than digging, and in the years that follow you just have to add some new compost every year.

Carbon Beach for me. 5K ought to buy me a dandy square foot or so.

Wake up sheeple!

How do you think that .02% of the world really runs the world while creating the illusion that many countries are democracies in the true sense of the word?

Then you must be in favor of taking away their wealth so that they can’t control us anymore. Sounds kinda commie.

If you have read my posts closely I do support higher taxes on billionaires. What I object to is lumping billionaires and millionaires in the same category in setting tax rates. But one of the best ways to redistribute wealth is to have a dynamic free enterprise system and keep government from propping up losers. Why did we support the big banks including investment banks when they were broke? Yes, we need a banking system but instead of bailing out the big banks we could have helped the regional banks and even credit unions to provide loans to businesses and individuals.

This whole blog is based on the premise that housing prices have been artificially inflated, so people in glass houses should not throw stones.

Well, I at least, am trying to understand the reality of the situation.

1) Regarding house prices, the reality of why they skyrocketed was due to bad lending, and the ability to sell those bad loans and pocket a fee. And house prices are directly tied to how much money one can raise. That’s my conclusion over all these years of looking into it.

2) Regarding government conspiracies - government is not competent enough to a) run sophisticated conspiracies and b) keep them quiet.

Government is composed of people. To be blunt, there are a few geniuses, a lot of morons, and probably an equal number of average-competence people. That’s what I’ve seen.

Yeah, there’s DARPA, which has a higher genius-to-moron ratio. And there’s military special operations which typically has a lot of competent people. But even they like to gossip.

Yes, government likes to keep a lot of things secret. Yes, government wants to draw power to itself. Yes, it will naturally sink into corruption as that is human nature. But highly competent it is not. Especially not enough to run sophisticated false flag operations in an elaborate game of chess.

+++1

“government is not competent enough to a) run sophisticated conspiracies and b) keep them quiet.”

We The People just have to make sure a ‘bad actor’ isn’t running a rogue operation under the auspices of “f u its natnl scurty “

2) Regarding government conspiracies - government is not competent enough to a) run sophisticated conspiracies and b) keep them quiet.

The question is not a government conspiracy but whether .02 percent of world effectively run everything and through their ownership of the media and their ability to make and break political leaders move things in a direction that they want even when a majority of the people oppose that direction. I think the answer is yes and most of the time people are not even aware that they are being played. They do not see that the .02% share an agenda since they have been conditioned to see things through the prism of left or right. W and Obama both share the agenda of open borders, they may attempt to justify to their manipulated supporters differently but it is the same agenda.

Housing is always a loss, and you always lose alot.

Considering rental rates are half the loss that buying is shows how insidious your BS is.

Are you calculating that loss in Ameros?

I offered you a way to completely reject the idiotic so-called modern/western way of thinking about shelter/housing and you persist with the idea that we need “profit” or “loss” black/white characterization. OK, then. Carry on.

Looks like I’m going to have to write the New Testament version of Your Book.

Good comment, joe. I agree.

The trick is to cut the expense. To worry about loss on housing is ill-conceived.

I wonder if people worry about their “loss” on food as well. Me? I consider the expense.

One can always work to mitigate expense. And one should.

Save your money, joe. Hopefully within 10 years you can quit, leave Washngton and do something you find meaningful.

Considering the meeting of a basic human need (shelter) to be either a profit *or* a loss shows how sick the western mindset really is.

Every meal that I eat is a “loss” too, I suppose.

Time to back to that old college favorite, Top Ramen?

Joe, I agree–basic human needs must be met, and they do not always need to be met in the cheapest-available form.

Cheapest =/= best, for sure. In government contracting, some procurements are “lowest cost technically compliant”, meaning that the gov’t is telling bidders they aren’t going to award extra points for anything above a minimum standard.

Shockingly, in my (admittedly brief) experience, these are some of the *worst* deals for the government. Mysteriously, the cheapest way that you can do something isn’t synonymous with the best way to do it. The government sometimes realizes that it could get alot [sic] more value for a modest amount of money. Or they realize that their minimum standards didn’t specify one or two things, so the bidders achieved lowest cost by completely gutting other aspects of bids. Lawyers become inevitable.

Another kind of procurement standard is “best value”, where a baseline standard is set in the RFP but overall value for the money is considered over and above the bare minimum. There are potholes in that road as well, but sometimes there are genuine breakthroughs where you spend more early on but the government acquires valuable IP, establishes a new standard operating procedures, or eliminates the need for a redundancy.

A loss on $100 spent ___ is recoverable. A $350,000 loss on a rapidly depreciating house is not.

Considering the meeting of a basic human need (shelter) to be either a profit *or* a loss shows how sick the western mindset really is.

Commie talk.

Expense, not loss.

Considering the meeting of a basic human need (shelter) to be either a profit *or* a loss shows how sick the western mindset really is.

This is a good point. Shelter is always an expense. Even if/when you pay off the mortgage, you’ll still have the taxes, insurance and maintenance. With a mortgage, people speak in terms of the PITI. They should speak in terms of the PITIM - M for maintenance.

I suppose it comes down to what’s going to be best for your short term and long term cashflow. I do like the concept of buying and not having a mortgage or rental payment. But with buying - it’s real money that I’m on the hook for. Yes, I can take out absurdly large loans for small, expensive houses. But the only group that profits as a result of that are realtors and Wall Street - the FIRE sector.

It was amazing to me that house prices went up due to bad lending, and then Uncle Fed stepped in to prop them up at those levels. Maybe if I slip a few bucks to my congress critters and promise Uncle Ben a speaking engagement, the Fed can use that magic checkbook to prop up the value of my firearms once the current firearms buying mania subsides. Hey don’t laugh - NRA and NAR both consist of the same letters, maybe the former can work its magic with the Fed like they both do with politicians.

I would suggest MITI, because if you actually maintain the house properly, you will probably have something of value to sell when all is said and done (and the P is reduction of debt, not an expense).

I would suggest MITI, because if you actually maintain the house properly, you will probably have something of value to sell when all is said and done (and the P is reduction of debt, not an expense).

——-

I’m going to go pop some popcorn when I get home tonight and see RAL blow his stack when he reads this…

something of value to sell when all is said and done

Sort of. One is always forced to find shelter.

I remember talking to a friend of mine who bought before the peak of the bubble, in a desirable area near DC. Prices were galloping upwards and I asked, ‘When are you going to sell?’ He said there was no point to it, as he’d have to just have to buy a yet more expensive house.

If one has a paid-off asset, and one dies and then the estate can sell it and distribute the proceeds among the beneficiaries. There is that angle.

I know it seems to be a controversial idea…that real estate doesn’t simply disintegrate to dust, but there are millions of examples all over the US, of homes, that despite being poorly maintained for many years (under-investment of “M” in your equation), still have utility for people seeking shelter, and thus still have value.

If you maintain your house (ie. invest “M”), it will have even more utility at the end of your use of it. Will the investment of “M” maintain it’s full value? Unlikely.

However, if, taken to it’s extreme, if you acquired a home with a 100%, fully amortizing loan over 30 years, and you invested PITIM for 30 years straight (and thus paid off the loan in it’s entirety), it is unreasonable to believe that the home is worthless at that point. Some amount of the “P” that you paid over time will come back on resale.

The question is whether resale value is greater than P+M…I wouldn’t plan on that…if you are actually performing reasonable Maintenance, and unless you happen to live during a time of excessive inflation, or the local market moves up much faster than inflation during your time of ownership.

In other words, the maintenance money fights back the deterioration of the asset, but can’t stop it. Maintenance is the cost of that deterioration.

It’s called depreciation Rental Pimp. Depreciation.

And all man made items are subjected to it. And eventually, it depreciates to zero dollars.

Depreciation is an accounting term, used to estimate the deterioration of an asset.

Not worth fighting over the words, but here is the question:

And how long is “eventually” if you continually invest maintenance $ into the home?

50 years? 75? 100? Longer?

The real question is this;

When will you get honest about your minimizing carrying costs v. your maximizing entry costs?

You reverse them and you do so intentionally, regardless of the fact you’ve demonstrated you don’t know anything about either.

“PITI-M” Pity ‘em.
Excellent.

Are you kidding?

And leave the always idyllic, socially-aware environs of Washington, New York, Boston, Boulder, San Francisco and San Diego?

It’s a lifestyle, man!

Spending exhorbitant amounts of money in support of who I think I am is well every penny.

Besides, everyone else is doing it.

DC is idyllic in that I have a job there.

There are healthy parts of the Upper South and Midwest (and probably Southwest), especially FootBall U and Basketball U towns, which are a nice middle ground, as the squadron says. University cities are generally no larger than medium-sized (boonie-boonie diameter <20 mi), so even a short drive will take you to Oil City housing.

How much $$ did you pay for your Debt-Dump?

To be clear, you could find Oil City-ish housing that *technically* is commutable to DC. It just can’t be near the MARC/Amtrak trains or the prices will inflate so you’ll have to become a looser [sic] commuter and beat up your car for 50 miles each way. Welcome to He11.

driving 50 miles each way in dc traffic? that sounds like some great work-life balance there. any financial advantage of paying oil city prices would be negated by spending 3 hours a day driving.

Oooh, I had a conversation with a refugee from Portland yesterday. The first words out of her mouth were “I’m from Portland” like it is a badge of honor. Needless to say she wasn’t interested in a cheaper apartment on my unfashionble side of town. I had to tell her there was a snob tax on the apartment in the trendy nabe. I ought to double it for hipster refugees.

Actually, I forgot, there is a MARC train to Frederick (it actually goes all the way to the WV/MD border area). That wouldn’t be awful if it takes about an hour each way? But it might be longer, not sure.

There’s been a ton of research done recently on “happiness”. Turns out that the daily activity most injurious to happiness is commuting.

Personally, I wish I could run to work. The 3 miles I drive takes about 13 minutes, so I could easily run it in less than 24 minutes. But many days I have my laptop and a pile of books and my lunch and coffee. It’s not as much fun to run with a pack on.

The first words out of her mouth were “I’m from Portland” like it is a badge of honor.

If she actually is from Portland (as opposed to simply coming to your area from Portland) it’s probably because this area has become so conditioned over the past decade+ to think it’s the only place in which one can exist, one of the reasons I’m losing my desire to live here.

While I find it has many redeeming qualities, based on how I like to spend my weekends, I find that Portland has become the Paris Hilton/Kim Kardashian of cities. It’s popular because it’s popular.

And if she wasn’t actually from here, I suspect what brought her here was the Paris Hilton effect. Can’t tell you how many youngsters I overhear saying things suggesting they tripped all over themselves to overcome all obstacles in their zeal to move here.

While I find it has many redeeming qualities, based on how I like to spend my weekends, I find that Portland has become the Paris Hilton/Kim Kardashian of cities. It’s popular because it’s popular.

And like those ladies, only a small portion of the population even cares. But the insiders talk and obsess amongst themselves to reinforce the notion that “everyone who is anyone” cares. You see it among some Boulder people, too.

I think if she had grown up in Portland and had been priced out I would have some sympathy for her. If she had even considered looking at the apt in my nabe I would have sympathy for her. But there is a subset of liberal bigots who like to look down on working class white people and they annoy me.

My guess is she moved to Portland to avoid the hoi polloi.

So instead you sign up to pay 1.5 million and still have a $200k house in a run down section of town.

Brilliant.

Quarter of a million bucks to rent a house we didn’t ever really love.

I’ve owned a house that I “loved”. Turns out I love freedom more, and my house is in no way connected to my career so that makes it easy to choose. Took me a while to figure that out and take advantage of it.

Doesn’t it matter what you did with the money you did not spend on purchasing a depreciating asset?

Of course it matters. If rent is cheaper than PITI, then you have to decide what to do with the savings by renting. One option is to pack it into a savings account. Ideally, after 30 years of renting intead of buying, you would have saved enough in rent to buy and Oil City house outright. You still have a paid off house when you retire. I was considering that option, but I found that if rent goes up even a little each year, the rent savings would diminish over ~12 years to 0. Then I would lose money even before retiring; I would never get close to a paid-off house. I almost had no choice.

I almost had no choice.

Really?

I get what you’re saying but it assumes that rent, like house prices, always goes up.

I almost had no choice.

SCHWEEET! LOL

Now…

What was the transaction price you paid for your debt-schack?

“One option is to pack it into a savings account.”

Not a viable option.

“I get what you’re saying but it assumes that rent, like house prices, always goes up.”

Over a period when housing prices dropped by a large percentage and are still underwater from when we started renting, our rent has increased by on average by 1.7 percent a year nominal, and has gone down in real (inflation-adjusted) dollars. And it hasn’t increased in several years. And the flood of new rental housing hasn’t even hit the market yet.

Contrary to some people’s beliefs, rents do not always go up.

At current inflated asking prices of resale housing? Yes….it will ALWAYS be a loss. There is no maybe. Especially due to the fact that rental rates are half the cost of buying.

My cars always prove a “loss”, but they are so much fun along the way. Just sayin’…

Your house is a massive loss too. From which you’ll never recover. Why? Because you paid a massively inflated price like millions of other suckers who didn’t have the mental fortitude to say no.

You’re not alone.

The protein bar and apple I had for breakfast are a loss as well, I should’ve scrounged up some dandelion leaves and dug up some nuts from where I saw a squirrel hide them last autumn. You know, since opportunity costs and quality differentials don’t need to be taken into account.

Weird how Housing Analyst asserts that I own a house…

Weird how MacBoy denies he’s a bank slave.

Weird how i-woggle thinks it knows about other folks’ personal finances. Just sayin’…

Cmon out liar…. no need to hide.

“Boomerang Foreclosures” Are Back As Bernanke’s Second Housing Bubble Begins To Pop

http://www.zerohedge.com/news/2013-02-14/boomerang-foreclosures-are-back-bernankes-second-housing-bubble-begins-pop?

And the pop has begun in CA.

You’re backpedalling…. Just sayin’…;)

Weird the Anal-yst tries to misdirect into “foreclosures”. More foreclosures da batter, Macboy always says.

And there always Falling Prices in Manhatttan

http://picpaste.com/5d5674837f083eb44d8dcba40b43b435.png

Bummer huh? lol

Falling prices in Manhattan would be great. My rent has gone up the last 8 years…

Pimpy can’t peddle. But Pimpy does piddle…

Please don’t move here. We have enough California equity locusts already.

You’ll soon have Washington D.C. locusts as well.

Fancy that.

Colorado is no longer where it’s at. It used to be such a great place, too. Sad.

Colorado is no longer where it’s at. It used to be such a great place, too.

So what’s wrong with it now, other than that it’s difficult to get rich on real estate but also difficult to live cheap because the cost of real estate has plateaued for a time at “too expensive for local incomes”?

CO is now known as DC West.

DC West?

Regarding the number of federal and contractor jobs here, yes it is DC West.

CO is now known as DC West.

By who? That’s a new one on me…

“I am not pimping real estate here.”

Sure you are. You and your sob stories. That’s why you’re here. And you are why we’re here.

there is not a lot of inventory out there, even, or especially, in SF.

Friend of mine sold her house in SF in 2007 for a fantastic profit and moved to Portland. She hates it there and wants to move back (she grew up in the city). Too rainy for her in Portland and she isn’t happy with the schools.

She wants to move back to SF but cannot. Nothing for sale and can’t rent a place for her family of 4 for less than $3000 a month. She can pay all cash (trust fundy) and still can’t find a place.

Of course she can’t! LOL

This ruse of yours….. did you know nobody believes it?

I believe it. Why would she make stuff up? Plus she has a very consistent character and I just cant fathom a ruse of any kind. I give her the benefit of whatever doubts I could ever have. She surfs, dig?

I have a sister who lived in Beaverton for 10 years. I just hated the weather when visiting. So did her ex-husband. Sunny here in Bend most the time.

Now she lives in San Mateo and I hear 0 complaints about the weather. But she rents for 3k/month. Luckily she is a veterinarian and can afford it; plus private school for the kids and private school for her step-kids as well. She even employs her hubby as a vet-tech or else is sending him to seminary, even though he is an atheist; he is determined to prove there is no God or something. Must be a riot to have a devil’s advocate at preacher school! or Photography school or whatever his classicly French essence wishes. He is kinda a leech.

Aside re: step parenting. It rips kids apart. Or can anyway. My sis posts on facebook how much she hates seeing her son come home from dad’s with grape colored mouth. Studies have shown, and all, how bad that is…..and Dad gave him grape soda, and probably will continue knowing it pisses off my sister. Kids as weapons; no consistent rules in play as Mom has one bedtime and Dad another, etc.

However; my sis wont allow her chubby daughter to play basketball. No clue why except Dad is pro-sports, Mom, not so much. Dad administers ADHD meds to the (adopted meth-baby son), mom, not so much. She sent him, off meds, to us last summer and it was heckish. Coffee anyone(for the kid)?

She also pulled same 10 year old son off the pitcher’s mound, where he had longed to be all season, because it was time to attend his tutoring. I try not to think about their turmoil too much. I believe that nurturing self esteem is more important; but she does not think pitching in some baseball game has any value, so she pulls him right off the mound! I blush to think of this. She puts herself above the other kids on the team, the coaches, the whole shebang.

And feel sorry for her messed up kids thanks to drug addicted birth parents, being adopted, enduring another family split, and last summer the birth mom along with new brothers got added to these kids “family”. What kinda concept of family do they have I wonder?

Oldest step-nephew just got accepted to Princeton on 80% scholarship. He picked Princeton over a full ride at MIT(or Harvard, can’t remember) because he can spend some time before declaring a major and Astro-physics aint his cup of tea he decided after attending some super smack-camp last summer. He is not blood and since he speaks French amongst his family when I see him I can’t claim any of his smarts thru osmosis either. Except trying to decipher the lingo is brain work I guess.

She surfs, dig?

Unfortunately the surf sucks here in the Spring. Too windy.

Counting the days until we go to Hawaii. Even bad surf in Hawaii is good.

One of the pluses of buying a house is that we now know exactly what are monthly expenses are, have a good pile in savings for emergencies/maintenance, and are not stressing about having to move or rent increases.

We set aside money every month for retirement, college funds, and vacations. For me, the uncertainty of long-term renting with kids and dogs in an expensive city made it harder, not easier, to save.

It helps that our PITI is less than our rent was. And there are no 2 br SFH with yards in a safe neighborhood that allow dogs for less than $2K a month.

Friend of mine sold her house in SF in 2007 for a fantastic profit and moved to Portland. She hates it there and wants to move back (she grew up in the city).

HAHAHAHAHAHAHA. The (figurative) grass is always greener. See it all the time. Sorry, but my schadenfreude meter pegs every time I hear this…

Oldest step-nephew just got accepted to Princeton on 80% scholarship. He picked Princeton over a full ride at MIT(or Harvard, can’t remember)
————–

This is the credited choice for undergrad. If he was offered a full ride elsewhere, tell him to call and ask Princeton to match. They are very good about matching financial offers for peer schools (Harvard, Yale, Stanford, MIT especially, i.e. the “direct competition”).

Acceptances for Ivies aren’t final until May 1. Tell him to call and get that financial aid raised.

Why would she make stuff up?

For the same reason you come here and post lies. You’re liars.

If it wasn’t clear, sfhomowner, my schadenfreude isn’t directed at your friend, but in support of her willingness to basically assert that the emperor has no clothes. Blasphemous around these parts.

My pal in Portland, like pretty much every else I know personally, really only wants a decent and affordable place to live, surrounded by friends, in a city she likes.

Making a pile of money by selling her place in SF near the top of the bubble means very little to her - she is now living in a place where she is unhappy.

I’ve told her to move back and rent, that this current mania will pass. But the thought of moving 2 more times, with her kids, is too much for her.

In my 20’s, freedom meant the ability to move around and travel and explore. I lived out of my car for 6 months while traveling across the US, lived out of my backpack while traveling through Europe for a year.

Living like that now, or jumping from rental to rental, as I am approaching 50, with 2 kids and a bunch of pets, sounds pretty hellish.

“very unhappy”!….. “hellish”!

You realtor drama queens are over the top.

“Friend of mine sold her house in SF in 2007 for a fantastic profit and moved to Portland. She hates it there and wants to move back (she grew up in the city).”

She probably should have selected another “real” city like Seattle, which is a high density population city whereas Portland just has a downtown.

The weather is another issue.

Home prices hit nearly 5-year high
By Lily Leung11:21 a.m.
April 17, 2013

A new home in Carmel Valley. A new home in Carmel Valley. — Howard Lipin / Union-Tribune staff

Tight real estate supply and low mortgage rates have helped push San Diego County home prices to a nearly five-year high and kept sales brisk, according to a report Wednesday from local real estate tracker DataQuick.

The median price for all residential properties sold in March rose nearly 19 percent from a year ago to $380,000, the highest price since May 2008, when the median value also was $380,000.

A 19 percent year-over-year home-price increase for a March is uncharacteristic, DataQuick numbers show. The previous high, which was 20 percent, was recorded in March 2004, just before the peak of the real estate market.

Sales also saw a significant jump in March. They rose 16 percent from a year ago to 3,762, the best recording for a March since 2006, when roughly 4,300 properties were sold.

“Price measures continue to rise for two simple reasons,” DataQuick President John Walsh said in Wednesday’s report. “First, demand for homes has risen at a time when the available supply is unusually low. Prices have had nowhere to go but up in many areas.
…
Related: “Dear seller” letters back in homebuying
=================================================
Reader Poll
Are housing prices starting to form a bubble again?
Yes 55%
No 44%

we had the nasdaq bubble then.

see also the onion article ‘recession-plagued nation demands new bubble to invest in’

iwog is a realtard.

Being alive, financially is a loss ALWAYS. Will Pimpy kill himself to avoid the loss?

Weird how MacRealtor runs from the truth.

Dang….. your losses on your massively overpriced house just got greater today.

Weird how I-woggle thinks it knows anything about other folks’ finances

Weird how I-woggle thinks it knows anything about other folks’ professions…

Weird how liars appear defending the fraud that is housing.

Sooooooooo… back on topic.

How large are your housing losses? 100k? 200k?

Weird how Pimpy projects house ownership onto others.

Don’t be ashamed…. spit it out. What are you losses.

I feel bad for Bigsby that he has losses…

Weird how Pimpy lives in housing and thus think he himself is a fraud.

$100 loss is nothing compared to a $350,000 loss on a depreciating house.

Sort of puts things in perspective.

Only idiots spend $350K on a house.

No matter where they live.

Only idiots spend $350K on a house ??

Well, we must have the dumbest people on earth around here then…

Or liars.

And you’re one of them.

Lots of people spend BIG money in support of who they think they are.

You’re one of them, apparently.

and it ain’t over. skiing arapahoe basin on 4/27 and loveland on 5/5 for closing day. al gore’s global warming has been hitting us so hard recently that breckenridge and aspen highlands are re-opening this weekend.

Housing Analyst sounds so unhappy…

macboy sounds so dishonest…

Iwog is projecting again.

Macboy is hiding again.

Macboy is right here, laughing at Pimpy

Oops, my car just depreciated again… dang.

C’mon out liar….

Alemeda County Housing Price Correction Resumed And Trending Down Again

http://picpaste.com/pics/3a0bf912e42e8c06bccff308694ece29.1366303165.png

Weird how Housing Analyst posts da Straw Man

Let’s stay on topic now… afterall, this is The Housing Bubble Blog

b>Los Angeles Housing Prices Headed Down

http://picpaste.com/pics/2b63c36dea94847f55a62ebba334e4d8.1366201830.png

How ’bout them growing losses in LA heh?

Bigbsy thinks he defines “on topic”. Funny…

Twenty minutes with a vertical mill, adding a pivot pin and a sear and you turn a semi-auto
AR-15 into a full auto AR-16.

Now that I look at some pictures online, maybe these were M-16s. They seem to look alot [sic] alike.

Unless you actually see the selector switch you won’t be able to tell.

almost like we’re in a police state.

I flew out of Portland this week. When I arrived at the line for security, there were several DHS guys there with what I assume were M-16s. I’ll admit I was a little shocked. Admittedly this was a few days after the Boston events, but for a second there I thought I was in Mexico.

And yet at most public housing projects there is little security and a lot of crime…go figure

Delta goes for head shots, of course, they
practice with live hostages and up to 10,000
rounds a month.

Seals have better all around training, but
Delta is primed for hostage rescue and specific target takedowns. Delta are the
cream of the shooters.

Zillow is a data aggregator and the charts are quite accurate.

Keep dreaming?

Having all this money left over after “throwing money away on rent” every month is a real nightmare.

And bouncing lower……. you liar.

Is that what the year-on-year UP 14% means?

No. That would be the TREND downward that you seemed to want to invoke when it’s convenient for your ongoing pimping.

BTW, it’s a special kind of liar who reads “up” and screams at the top of his lungs “down”.

any=in

Bad typing and auto correct can be a dangerous combination.

I suspect that many people on the waiting lists will never see a voucher.”

Yes only certain people get these vouchers. I suppose we will hear about bribes to get section 8 and Section 8 tenents sub-letting in the future.

Moral harzard is not restricted to Wall Street. I would even say many “poors” justify there actions on imitating the rich.

But duh, I should have figured this out before. THAT’s why hedge funds are buying up these houses — for the guaranteed Section 8 rental stream.”

I expect Oxnard and Simi Valley CA to be full of them in a few years since Blackstone has bought Thousands of homes in both cities. And is over paying for the homes for some reason I can’t figure out ?

But duh, I should have figured this out before. THAT’s why hedge funds are buying up these houses — for the guaranteed Section 8 rental stream.

If I were a landlord - which I will never be - I wouldn’t rent to section 8 tenants. I’m an unapologetic liberal and I believe that when people are given too much without working for it, they just don’t appreciate it or take care of it.

It’s one thing to help people out when they get stuck, but entire generations living off the dole for decades is not helping anyone.

SF now if we can get Ohbewanna pelloosie and sharptune behind you…think how much better America will be.

If I were a landlord - which I will never be - I wouldn’t rent to section 8 tenants. I’m an unapologetic liberal and I believe that when people are given too much without working for it, they just don’t appreciate it or take care of it.

It’s one thing to help people out when they get stuck, but entire generations living off the dole for decades is not helping anyone.

Count me as a red-hot flamin’ liberal who agrees with the above.

Interesting analysis :-).

I think just killing Hitler would have made more sense, but it is interesting to contemplate what would have happened if average Germans had just stopped being productive.

When I worked for a medical malpractice insurance concern, we used to collect CA. doctors’ names. Some of my favorites included:

Kurt Pickus - Dermatology
Mark Feeley - OBGYN
George “You get ONE joke” Bonecutter - GP
Frank Smiley - maxillofacial surgery
Salman Gergle - GI surgery
William Peeke - OBGYN

And my all-time favorite,
Hakima Kadavar - Pathologist

All represented by one
George Butinsky - attorney

There is a Dick Stifler DO, but he’s not a urologist.

Hakima Kadavar - Pathologist

Too funny!

“Hakima Kadavar - Pathologist

Too funny!”

Too sad for Hakim’s family, though…

Someday we will discover the ‘miracle’ of fracking means high initial production rates that fall off faster than conventional vertical plays. I am telling you I am seeing it right here in the Barnett shale zone today. Wells less than three years old that have to be re-fracked because their flow rates collapsed.

Exactly bluestar, I have said so more than once on this blog. Even in conventional plays horizontal drilling is more about producing oil quickly from a deposit than it is about producing more oil from the deposit. It does make some deposits attractive that would never be drilled so I will not say it has zero impact but it much less than most people think.

Testify brother, It’s already happening!!

Lawmakers leave global warming provision out of greenhouse gas permit bill
By Kelley Shannon
5:12 pm on April 18, 2013
A proposal to shift permitting for emissions of greenhouse gases from the federal Environmental Protection Agency to the Texas Commission on Environmental Quality won preliminary approval in the House, but lawmakers agreed to leave out climate change and global warming language.

Lawmakers voted for the measure 119-23. There didn’t seem to be much opposition to moving the permitting responsibility to the TCEQ, which Rep. Wayne Smith, R-Baytown said could handle the duties much quicker than the federal government and make the process more efficient for businesses. The two government agencies have agreed that the permitting should move to the state.

But the bill also removed wording from state law that’s been in place since 1991 that says state officials should be allowed to control air contaminants if necessary to protect against the adverse effects of “climatic changes, including global warming.”
A proposed amendment by Rep. Chris Turner, D-Arlington, to restore that wording generated intense support from Democrats but failed on a 50-91 vote.

Speaker Joe Straus tried during the debate to hold only a voice vote on the global warming amendment and on tentative passage of the bill. That would make it impossible for the public to know in an upcoming election how a particular lawmaker stood on the proposal, at least in this round of debate.

http://trailblazersblog.dallasnews.com/2013/04/lawmakers-leave-global-warming-provision-out-of-greenhouse-gas-permit-bill.html/

PS: TECQ is the same department responsible for air quality and safety at some obscure fertilizer plant in West, Texas…

“Texas Investigated West Fertilizer Plant in 2006″
Records show that the TCEQ has visited the plant several times since issuing the permit but noted no concerns about the company. There have not been any recorded complaints about the company since 2006.
http://stateimpact.npr.org/texas/2013/04/18/texas-investigated-west-fertilizer-plant-in-2006/

Exactly, bluestar. Conservative use of natural resources is the definition of conservative. Today’s GOP “drill baby drill” narrative is short sighted stupidity and corporate hucksterism.

Conservatives aren’t.

Even if he wasn’t a shill, he has a large audience.

http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/10001937/Fed-and-Bank-of-Japan-caused-gold-crash.html

Looks like a great article; will need to read carefully later today.

My spouse commenting on the gap between share prices and economic conditions is yet another shoe-shine boy moment.

Fed and Bank of Japan caused gold crash
Commodity prices have been falling since September, culminating in a rout over the past two weeks. That is a classic warning for the global economy.
Traditionally shaped pure raw gold bars stacked in a secure bullion room safe
The upward trend of the great bull market has been broken. The technical damage is brutal. Bank of America expects a further drop to $1,200. Be patient Photo: Alamy
By Ambrose Evans-Pritchard
7:22PM BST 17 Apr 2013

It is becoming ever clearer that the roaring boom in global equities since last summer has priced in an economic recovery that does not in fact exist. The International Monetary Fund has had to nurse down its global growth forecasts yet again. We are still stuck in an old-fashioned trade depression, with pervasive over-capacity in manufacturing plant and a record global savings rate of 25pc of GDP.

German car sales fell 17pc in March. That should puncture the last illusions that Germany is about to pull Europe out of a self-inflicted slump.

As you can see from the chart below, the divergence between stock markets and the Deutsche Bank index of raw materials is astonishing to behold, so like the pattern in early 1929.
…

I posted at the bottom - too late for most HBBers to notice that most of the silver bullion at the LA coin shop I go to - all sold out. I was wanting to buy packs of 20. So I’m sticking to gold for now. Might buy a platinum Maple leaf or Koala - but all Platinum eagles in all sizes are sold out.

LOL. I’m with ya…. but LOL.

Oh wait, the housing bubble contagion infected Nordic countries, too.

Housing prices may finally be settling down
April 3, 2013

The high price of housing in Norway may have peaked, at least for now. Real estate brokers report fewer prospective buyers at open house showings, and sales figures for March were mostly flat after months and years of strong increases.

Average prices for single family homes were up just 0.3 percent, reported the real estate brokers’ national organization EFF, while average prices for multi-family homes (apartments and duplexes or townhouses) were unchanged. That yielded a total price increase of 0.1 percent from February to March.

The stability follows a 4 percent price rise in January, and the March figures were still 7 percent ahead of March 2012. But demand seems to be tapering off, after square meter prices hit record levels and often run as much as NOK 60,000 in Oslo and other Norwegian cities.
…

“it will finally sink in that most of what we call racism has nothing to do with skin color and everything to do…..”

I’d change “nothing” to ‘very little’, but I think you’re spot on.

I tried to cover that with the word “most”. Yes, there are some real racists out there who care about skin color. I don’t think there are that many, though. There are a ton of people who take sides over social norms.

“I tried to cover that with the word “most”.”

So you did!

Any brothel worth the name will create a heck of a lot more income for the proprietors than would allow them to continue to qualify for the vouchers. So maybe your problem is with people who dobn’t qualify for section 8 and yet use the vouchers illegally. Or people who run illegal businesses out of residential apartments. Or who run businesses in areas that aren’t zoned commercial at all.

Seriously. What does section 8 have to do with it?

“Any brothel worth the name will create a heck of a lot more income for the proprietors than would allow them to continue to qualify for the vouchers.”

I think you are missing the potential advantage of incorporating Section 8 rental subsidies into a brothel business model. Rent is a cost of doing business, and reducing costs is a good way to increase profits.

And you are also assuming the “business” would have been above board; but then they wouldn’t have qualified for Section 8, would they? And besides, it would have been illegal (I have never lived in Nevada…).

Tenant Troubles: My Building Has Turned Into A Den Of Crime
Housing Authority Tenants Union
by Dave Crow | April 3, 2013 10:09 am | in Business

I have lived in the same building for 5 years. It was built in 1913, has 64 units, and is a tax credit building. I am 38 years old, and am on Section 8. In the middle of last year the management rented an apartment through the Veterans Administration to a man who turned out to be a drug dealer. Drug addicts, dealers, and prostitutes started coming into the building. The man was evicted but the people found others in the building to let them in.

These people use the hallways as toilets, have sex in the hallways, sleep in the stairways, and regularly break into the building by both kicking in the front door and climbing up the fire escapes. The manager has done everything he can but the management company and the buildings owner refuses to hire full-time security even though the residents demand it.

People have tried to break into my apartment. In January our maintenance man, who lives in the building, was assaulted. Our building has been cited by the police department. Is this enough to ask the landlord to pay for me to move (which is extremely hard being on Section 8)? Or what can I do to try to get this terrible situation dealt with?
…

Polly, I agree one should not generalize from individual experience to entire groups or government programs which support them.

So here is a bit broader perspective on Section 8 tenants and crime. And I am 100% certain there is plenty more supporting evidence that Section 8 brings higher crime rates to the areas to which it lures new residents, and that this is merely the tip of the ice berg.

OPINION
August 17, 2011, 7:34 p.m. ET

Raising Hell in Subsidized Housing
Section 8 rental subsidies have long helped ruin neighborhoods. Obama administration policies are making things worse.
By JAMES BOVARD

Section 8 rental subsidies have long been one of the most controversial federal social programs. The Department of Housing and Urban Development (HUD) under the Obama administration is making a troubled program worse.

In the 1990s, the feds were embarrassed by skyrocketing crime rates in public housing—up to 10 times the national average, according to HUD studies and many newspaper reports. The government’s response was to hand out vouchers to residents of the projects (authorized under Section 8 of the Housing and Community Development Act of 1974), dispersing them to safer and more upscale locales.

Section 8’s budget soared to $19 billion this year from $7 billion in 1994. HUD now picks up the rent for more than two million households nationwide; tenants pay 30% of their income toward rent and utilities while the feds pay the rest. Section 8 recipients receive monthly rental subsidies of up to $2,851 in the Stamford-Norwalk, Conn., area, $2,764 in Honolulu and $2,582 in Columbia, Md.

But the dispersal of public housing residents to quieter neighborhoods has failed to weed out the criminal element that made life miserable for most residents of the projects. “Homicide was simply moved to a new location, not eliminated,” concluded University of Louisville criminologist Geetha Suresh in a 2009 article in Homicide Studies. In Louisville, Memphis, and other cities, violent crime skyrocketed in neighborhoods where Section 8 recipients resettled.

After a four-year investigation, the Indianapolis Housing Authority (IHA) in 2006 linked 80% of criminal homicides in Marion County, Ind., to individuals fraudulently obtaining federal assistance “in either the public housing program or the Section 8 program administered by the agency.” The IHA released an update last month citing recent crackdowns on a “nationwide criminal motorcycle gang operating out of a Section 8 home.” It also noted one “attorney who allegedly operated a law practice from a Section 8 home for eight years, providing shelter to unauthorized occupants who were linked to 10 homicides, 431 police calls and 394 criminal arrests during that time period.”

Dubuque, Iowa, is struggling with an influx of Section 8 recipients from Chicago housing projects. Section 8 concentrations account for 11 of 13 local violent crime hot spots, according to a study by the Northern Illinois University Center for Governmental Studies. Though Section 8 residents account for only 5% of the local population, a 2010 report released by the city government found that more than 20% of arrestees resided at Section 8 addresses.

Dubuque’s city government responded by trimming the size of the local Section 8 program. HUD retaliated by launching a “civil rights compliance review” of the program (final results pending).

HUD seems far more enthusiastic about cracking down on localities than on troublesome Section 8 recipients who make life miserable for the rest of the community. And because Section 8 recipients in some areas are mostly black or Latino, almost any enforcement effort can be denounced as discriminatory.

HUD launched an investigation of the Cincinnati Metropolitan Housing Authority in 2009 after an Ohio attorney accused the authority of racially discriminatory Section 8 policies such as “eviction for offenses such as loud music.” In June of this year, the authority signed a conciliation agreement with HUD, pledging to cease penalizing Section 8 recipients for nuisance offenses. Policing tenant behavior was the job of police and landlords but “an ineffective use of resources” by the housing authority that “could lead to inappropriate program terminations,” HUD spokeswoman Laura Feldman told the Cincinnati Enquirer.

After the city of Antioch, Calif., formed a Community Action Team to assist the Contra Costa County Housing Authority in curbing violence and other problems in subsidized housing, the Bay Area Legal Aid sued the local police department in 2008, claiming it was guilty of racial discrimination because of an allegedly “concerted and unlawful campaign to seek evidence which could lead to the termination of participants’ Section 8 voucher benefits.” (The case is ongoing.)

Nevertheless, middle-class blacks are the program’s least inhibited critics. Sheldon Carter of Antelope Valley, Calif., testified at a recent public hearing on local Section 8 controversies: “This is not a racial issue. It is a color issue. The color is green and it’s my dollars.” Shirlee Bolds told Iowa’s Dubuque Telegraph Herald in 2009: “I moved away from the city to get away from all this crap. Dubuque’s getting rough. I think it’s turning into a little Chicago, like they’re bringing the street rep here.”

Remarkably, HUD seems bent on creating a new civil right—the right to raise hell in subsidized housing in nice neighborhoods.
…

“…Seriously. What does section 8 have to do with it?”

Irresponsible, drug-addled people tend to be poor?

Oh gee….. You’re Happy!!!!!!

And the knitting club? How goes it?

Many exclamation points. Sign of weak intellect.

!!!!And Let’s Not Forget Phoenix!!!

Phoenix Rental Rates Heading Down Down Down

Why pay an inflated price for a depreciating house in Phoenix when you can rent it for increasingly less money?

http://picpaste.com/pics/d89f9a1b2d5b6b74e518b5c9b7516f98.1366210461.png

Cool

How funny. I don’t mind if people can rent in a way that works for them. So many here seem so insecure that others choose other paths. BIgsby seems to seek external validation. Insecurity…

And so did your increasingly worthless shack.

How large are your losses so far?

Poor Pimpy. Trying so hard for Schadenfreude.

PImpy thinks I own a Shack.

Pimpy thinks it is his worry if I own a Shack.

Pimpy can’t show me the Shack I posted renting for half the mortgage

Pimpy is mad my mortgage would cost less than half my dinner-out costs each months.

Funny pimpy.

Stop backpedalling.

What are your losses on your depreciating shack?

Pimpy cannot ride bike, thus has to imagine how people pedal. Funny Pimpy.

Someone find me house like the one for sale, for half the posted monthly costs… puhhhlease.

Don’t be so ashamed. There are millions of others just like you. Underwater, indebted and no way out.

Bigsby is indebted and underwater. Sad really.

But, this thread tangent started with a claim one can rent for half the price of “owning”. I merely ask where one can rent the house I showed for half the price of the mortgage/tax/upkeep (never mind after the tax break)…

Just sayin…

“Here’s a nice house in my neighborhood”

At $219k and property taxes north of $5k/yr would price me out, and I’m hauling in ~$82k/yr. The added costs of raising a family are the sinker, so the typical Joe Sixpack would likely crash-n-burn if he signs on for this place. Man, over $400/month in taxes, and that place probably has a septic tank and water well, both very expensive when they need work.

Nice place though.

Thanks RMS. I don’t own it of course. It was just the very first listing that popped up (”featured”) when I searched the realtard site. In these chats I very much take no stand on anyone’s individual wealth or comfort zone. The house in question is < 2/3 my annual salary. Our town has nice houses starting around $75k. I have a friend who earns 20x what I do. We all live how/where we live. That’s cool.

Realterd site claims taxes $3600/year. Mortgage would be $900/year at 30 years or $13,000/year at 15 years. Let’s say $13,000 year total for “ownership”. First 8 years, what, 40% discount for tax break (yes, I itemize and blow by the automatic deduction sans housing). Even at $5000 taxes…

I posted this only to address the “one can rent for half the cost of owing” thingy that someone claimed. Perhaps in some places this is true.

But, I invite anyone to show my Like House in Like Neighborhood for $600-700/month. Log Home. Stunning. 1 Acre wooded lot. Big Basement. Wood everwhere.

I’m in no rush to become a mortgage holder again. I just have doubts about the ECHO chamber element here (”It’s always cheaper too”).

If I bought that house for 15 yr mortgage, one I could never rent for 1/2 cost (could not rent for full cost of payments), and paid $1500 month ($900 post tax break the first few years), in 15 years I’d owe 5-6000/year in Taxes only. Could I “rent it for 1/2 price then”, $300/month?

Food fer thought…

Oh yeah, and for the first, what, 8 years of the 15 year mortage that $1500 payment (or the $1100 payment on 30 year), would be a huge tax break. So for first 8 years effectively, what a $800-900 payment including tax? Can someone find me this house to rent for $400/month?

Just sayin’…

Schmendrik???????! no way!!! Where ya been Bish?!

Too many questions marks. Sign of weak intellect.

Too many insults and factual misrepresentations.

Sign of a troll.

But that’s why McBoy is so fun. No facts and all troll.

Whacky’s and Biggy’s search for external validation is a sad sign of insecurity.

The thread tangent started more or less with, “why buy when one can rent for 1/2″

I’ve posted a fact. An asking price for a house with the listing and the costs associated.

I ask to see a like house in like neighborhood renting for half the price.

Whacky/Biggy whining instead of addressing is… telling

Theees eeez soooo much fuuuun….

Weird to see Whacky and Biggy use Tactic 1 from the Losing Debater’s Manual, because they didn’t like the fact that was my post.

I am waiting to see the answer to where I can find like house in like neighborhood for half the costs cited in muh post.

Bwhahahahahah….

Oops. Facts…

$219k. I acre wooded lot. 1900 sq ft. Price a bit high per square foot for area. This was just the first house that popped up on Realtard site in my zip.

Mortgage $800 or so. Taxes $250 or so. Factor in yer own upkeep estimates and amortize as ya will.

Here in town, 850 sqare foot apartments rent at $850-900 in tolerable complexes.

Can ya’all find me a house like this for $500/mo, half the cost to own?

And, if I earn $300k/year as an evil doc, and if the house (Incalculable losses I think I can in fact calculate), de-bubblates to value of Zero when the 30year mortage is done, why specifically should I be… unhappy?

Or if I do a 15 year mortage ($1500 payment not $1100 payment) and I have no mortgage and just taxes then ($280 now, might grow some by then), and pay say $400/month in “mortgage/tax starting in fifteen years on this place, how horrible is that, so that I should be quavering in fear of incalculable losses, and “bank slave”?

Funny thing is, I rent and fully get the issues at risk in house purchasing. But, I am willing to see nuances. Probably makes me bad for the Echo Chamber crowd.

And, dang, my car done depreciated again today.

can you at least change up your stories about how the world is ending?

Falling housing prices to dramatically lower levels is the end of the world?

Nonsense. Falling prices to very cheap levels is bullish optimism.

It was called “globalization”. The advertising geniuses of the Business Roundtable succeeded in tricking everyone into thinking that “globalization” was the same as using e-mail and eating Mexican food. In reality, it is just global corporatism, wherein the corporation supersedes the state. When the voice of the citizenry is muzzled by the dollar of the corporation, you end up with a problem such as ours.

Actually, maybe I should clarify what I meant. We are now on our third consecutive stock-market bubble. Each bubble is one bounce along the top. Each has its own peak and trough, but yet they are still at the top of one giant bubble that started in the 1980s.

“But look at the stock charts. Stocks really are bouncing along the top. Beats me, but they are.”

It happened back in 1929, too.

Stock prices have reached what looks like a permanently high plateau.

– Irving Fisher, leading U.S. economist , New York Times, Sept. 5, 1929

And why did they do that Rental Pimp?

And why did they do that?

“…infrequently leverage up at the fund level…”

Remember that this time is different.