The Housing Bubble

realtor branDan,

Why would buying be best when buying doubles your monthly costs at current asking prices of resale housing?

You haven’t been reading the HBB for very long now, have you?

Bill is like the rock star of renting here, he is richer than the vast majority of posters here, and he earned all of it, he’s no trust fund baby.

Listen and learn.

Indeed Bill is the model. And he lives rent free in the skulls of many who just can’t get over the fact that he’s self-made by renting in the choicest locations for a mere fraction of the cost of buying.

I used to frequent this blog way back in 2006 - so I’m not new. I’ve been renting since 1999 so I’m not stranger to renting either. I’m merely point out that he’s painting with a broad brush. His situation works for him and where he lives but may not work for others and where they live.

Sales activity collapsed so you’re back to trolling realtor tripe because you’ve got no other means. Got it.

How much you on the hook for?

Was in Boise on biz yesterday. I’ve been going over there since ‘98. I really like Boise but it’s become Vegas-lite. On every flight in since ‘98 I swear I’ve spotted another development going in. Lots of high-desert farm land there that’s plenty habitable/buildable. The Boise-Nampa corridor amazingly has, what, 4 lanes in each direction?

So, the warnings on buying there are fairly well founded. If you’re going to do it, I’d low-ball the heck out of any offer. That developers are asking mid-300s+ on new stock is outrageous. There are only so many Californians to absorb that stuff.

H A - I’m not in real estate and I rent. I see that you subscribe to to the Saul Alinsky school of attacking the opposition rather than engaging in debate. IMO not very “analyst” on your part.

You are correct that sales in my location of Ada Count are down 9.83% Feb 14 vs Feb 13 but median sales price increased 10.98%. I’m hoping the market is pivoting lower since sales dropped.

Of course you’re not.

Back to the fundamentals. Renting is half the cost of buying at inflated asking prices of resale housing. Now go fix your shelter problem.

sleepless_near_seattle,

You are 100% correct about the the land out west and prices at the lower end reflect the abundance. Far western Ada count and Canyon county have abundant land to develop and prices on the lower end reflect it. BUT the actual city of Boise is mostly landlocked by city protected reserves and BLM/state land. There is a lot of development going on in East Boise not far from me but it’s all at a price point of $300k + . I am curious about the south end of town (SE of Micron). The city added a new sewer plant and there are two new developments priced at $200k and up (still above my price range) but nothing else.

The area I’m moving to, rents aren’t that far off of purchase?

Here in Norfolk you can rent cheaper than buying, but you will often get lower quality.

One thing I notice in the apartment is the air conditioner is a power killer (it’s old. When the old one died, instead of a new one they just moved another old one in. It’s a larger building, chilled water loop style heatpump.)

Also appliances aren’t efficient either. And you get bottom of the rung.

What are prices like in Garden City and places north of there along the western edge of North End (but not in North End)?

There seems to be a lot of beat up stock in there. With a family that might be difficult to pull off but that’s my speed.

Or is that area infested with meth-heads?

sleepless_near_seattle,

I not as familiar with the area - a 25-30 minutes away from me and my kids’ school. But Garden City is still a mixed bag but slowly going through gentrification. NW Boise is the same - hit or miss with most asking over $150k.

Bill is like the rock star of renting here, he is richer than the vast majority of posters here, and he earned all of it, he’s no trust fund baby.

I think that he once mentioned inheriting some money from an uncle or something.

You have to ask yourself if there is such a thing as a housing bubble. It effects the math out beyond the next lease. 2008 is too long ago for some to remember, but it was just a foreshock. Unless there never was and never is a housing bubble.

If you think that in a flat market buying (mortgaged) is cheaper than renting, we need not discuss math.

There is a lot of development going on in East Boise not far from me but it’s all at a price point of $300k + .

I think you covered this the other day, but those areas (like Nampa) being new are a “victim” of the square footage bubble. It boggles that anyone would pay $300+ out there.

Brandon, just ignore them. The same few people post these ignorant blanket statements day after day.

Good luck with the house hunting!

This is typical of what they’re building in East Boise: http://www.buildidaho.com/idaho_subdivisions/ada_county/boise-_northeast/the_mill_district_at_harris_ranch/

And in far Southeast Boise: http://www.buildidaho.com/idaho_subdivisions/ada_county/boise-_southeast/painted_ridge/

A few of the places in Painted Ridge have been on the market for months.

Why buy it when you can rent it for half the monthly cost?

Months, eh? Renew your lease. Wait a year. Then let the low-balling begin!

And by “low-balling” what I mean is offering a fair price on what is wildly overpriced list pricing, ie - 30-50% off current list prices.

Amy,

I feel sorry for H A - his ctrl+V and crtl+P must be absolutely worn out. I’m keeping my eye out for rentals and resale.

Sleepless,

Landlord is not renewing my lease after nearly 4 years - I have to move by June. They are either selling or moving back in.

Your charade is turning into a memorable schooling for you.

Realtors are liars.

It doesn’t matter where it is, it’s in a fu*king bubble.

H A - you are quite hilarious with your conspiracy theories. While I’m sure you’re a valuable contributing member of society, I can’t help but imagine you being hunkered down in your mom’s basement with a tinfoil hat.

If it makes you sleep better to believe I’m someone else then fine - more power to you.

I inherited 58k from my uncle and 30k from my dad in 2001. Lost 26k in stocks that year. I did not get wealthy from inheritance

You’ve got a shelter problem. What are you going to do to solve it?

H A - two simple choices as a solution: rent or buy.

There… you’ve stepped back into reality.

Now the obvious choice is to rent considering rental rates are half the costs of a mortgage at current asking prices of resale housing.

H A - please specifically illustrate how you arrive at your state? What variables are you taking into account? I’m not going to let you proclaim such bold statements without any data or explanation.

For example the current home I rent (3/2 1100 sq ft.) would probably sell for $150k and I rent for $850 per month - the rent is quite fair and would stay if the landlord was willing to renew the lease. At what price would would this house be fair to buy? Keep in mind that the house when built in ‘94 probably sold new for $80-85k. During the bubble comps went for about $200k (neighbor bought at $197k) and bottomed 3 years ago at about $120k.

Then post a link of it.

While not my own home, this is quite typical of the type of home on the market in the area I’m interested in: http://www.trulia.com/property/3149385942-4160-E-Carnation-Ct-Boise-ID-83716

IMO it is overpriced. The house next door is a rental for $975 a mo and rented in under a week.

What good is that? That house nor the house that supposedly went for rent is for sale.

H A, the house posted is for sale…what are you not seeing? The house next door (of course) is not for sale because it’s a rental. The two houses are what you would call comps for asking and rental prices.

I’m done attempting to engage you in a dialogue - I’ll free up your time for blogging the same canned responses from your mother’s basement.

Don’t be a badge licker.

“like axes or machetes?”

Maybe they were gonna blow some stumps with dynamite!

As her whipped husband explained, some old green biddy didn’t like the kids cutting tree limbs so she called 911 out of concern for the environment. The I have to make it home alive tonight cop showed up gun drawn and put the dangerous fort building 11 year olds on the ground.

As far as the ridiculous articles I post about the militarized police, I was happy this kid and his Mom could tell their side as apposed to the homeless dude who the militarized police shot with bean bags, sicked the K-9 officer on and then shot to death right before they cuffed him last week.

Badge licker? I said I don’t like the jackasses and militarization, but you guys are victims of a liberal race baiting cop hating media that spins ambulance chaser dream stories.

Whenever you see one of these stories that doesn’t quite make sense, it’s cause they are leaving stuff out and spinning it. Cops encounter people by the millions every day. Sure you are going to have some problems. You are also going to have lots of criminals whining and lying. Wake up.

Nope. You are living back 30 years ago. These are the days of the authorities stomping on innicentd FBI in Idaho versus the Weavers. Waco, where women and children were torched. Jack boot Janet ordering paramilitary thugs in Florida to grab Eloan and return him to communist Cuba. It’s all there.

And Chris Dorner in L.A. was no saint but he had a lot of accurate things he said in his manifesto about LAPD. The same LAPD who gunned down two Hispanic women delivering newspapers mistaking them for a big black man.

The average person isn’t gracious and thankful to just to be alive; they expect an afterlife too. Greedy.

Greedy.

+1 It’s funny because it’s true.

Pizza TV dinner? Hmm I need to investigate.

And don’t forget the Swanson Turkey TV dinner edition during thanksgiving. Half a dozen of those in front of TV watching football is heavenly.

If that is wild rice, it sounds good but that might be considered a metrosexual comment.

That’s not what your post was about.

It’s about comparing yourself with others to support a fragile ego. Are you balding?

I know we all have to die someday, but I always thought in my case, an exception would be made.

If someone finds fat people offensive, that’s his or her problem. Fat people don’t exist to please others, much like bald people don’t exist to please others.

If someone finds fat people offensive, that’s his or her problem. Fat people don’t exist to please others, much like bald people don’t exist to please others.

There are differences. Obesity is a health issue, baldness isn’t. Obesity has an impact on the health care system and insurance rates, baldness does not.

“that’s his or her problem”

Since I’m paying thousands of dollars annually for health insurance I never use to subsidize the bad lifestyle choices of others, you’re correct that it is my problem.

Obesity is a health issue, baldness isn’t.

Sun burned heads lead to an increase in skin cancer. So government can now regulate hair under Obamacare.

“Since I’m paying thousands of dollars annually for health insurance I never use to subsidize the bad lifestyle choices of others, you’re correct that it is my problem.”

LMFAO!

So the poster who repeatedly drums support for Single Payer healthcare is all upset that he has to pay for some fat person’s healthcare.

Sad panda boo hoo.

all upset that he has to pay for some fat person’s healthcare.

Single payer doesn’t (shouldn’t) connote a lack of responsibility.

Likewise, don’t argue for fatties being able to eat/do whatever they want and then complain about your medical insurance rates increasing.

“LMFAO”

Keep laughing, Bethieboy.

Because that health care being 18% of USA GDP isn’t rugged individualist and American exceptionalist enough, lifestyle choices will push that amount north of 25% someday soon, hopefully that will tickle your funny bone as much as this joke of a thread has.

Yes, sleepless, single payer will encourage “fatty” to do more of the same. And your costs will go up.

“Fatty” will tend to become less fat if “fatty” has to pay for his or her own insurance out of pocket. Same thing with “smoker Sally” and “Veggie Virginia”. All will become more healthy if they get to pay full freight.

As Fatty and Veggie Virginia pay more for being irresponsible, my costs go down.

But, hey, more power to you for voting for Big Government. You get more Fatty and less service. A win-win if there ever was one

“Fatty” will tend to become less fat if “fatty” has to pay for his or her own insurance out of pocket.

That “should” be true, but isn’t. They’ll just not get insurance, therefore, your rates will go even higher.

“It’s a vicious cycle.”
-Fat Bastard

“Fatty” will tend to become less fat if “fatty” has to pay for his or her own insurance out of pocket. Same thing with “smoker Sally” and “Veggie Virginia”. All will become more healthy if they get to pay full freight.

But, hey, more power to you for voting for Big Government. You get more Fatty and less service. A win-win if there ever was one

Probably nearly everyone in America who has insurance at this point, whether it’s through their employer or Medicare, has to pay significant co-payments and deductibles. These costs have been rising rapidly for decades. Obesity has not fallen in response to that. The opposite has happened.

Also, in every developed country on the planet the government plays a much larger role in health care and private, for-profit insurance companies play a much smaller role. Those countries all pay much less for health care.

Real eaters don’t need concussionball on the teevee as justification to consume groceries.

The $500 Arc’Teryx jacket that has never been touched by a snowflake or speck of mud = the Colorado manpurse.

Arc’Teryx - even the name sounds yuppie

The $500 Arc’Teryx jacket that has never been touched by a snowflake or speck of mud = the Colorado manpurse.

LOL! Hard to argue with that.

the Colorado manpurse

Ditto the Oregon/Washington manpurse. Street cred in these parts is all about the “outdoorsy,” which seems like an oxymoron.

Colorado has the guns but California has the numbers.

They are going to move there and take over.

They are going to move there and take over.

The typical transplant here is from the midwest, not the west coast. Californians are afraid of the snow.

Just pointing out that Colorado is not a California clone.

And obesity is not an “appearance” issue. How you dress or wear your hair is an appearance issue. Obesity is a health issue.

“And obesity is not an “appearance” issue.”

Sure it is.

Need proof? Examine yesterday’s threads for starters.

There’s plenty of rednecks in California, In Colorado.

Ever been to Susanville or Eureka? Egad.

Yes, but you have to realize that Loveland/Ft. Collins isn’t some remote podunk town. We have plenty of tech firms here.

I think you’d have to live here to get it.

I already get it.

One thing you want to do if you want to keep Colorado and not lose Colorado to California is to eliminate vanity as it appears.

Do you want Colorado to be known for being vain? People elsewhere are starting to paint it as such, you know.

It’s not only fellow Coloradoans who roll their eyes at the People’s Republic of Boulder, for instance.

Do you want Colorado to be known for being vain?

If the rest of the country is going to perceive us as “vain” because we aren’t landwhales, that’s their problem. We are what we are. If pudgy southerners think we’re vain, there’s nothing we can do about that. And to be honest, I don’t anyone here is concerned about what kind of image we project. We wouldn’t have legalized MJ if we were worried about image. If anything, worrying about image is vain.

The obesity “epidemic” is due to technology and personal devices more than lack of exercise.

Cut the former and most naturally will do more of the latter. Pretty simple.

I want bikini pics (you can crop your face out to keep it anonymous).

Coo coo coo choo, Mrs. Robinson.

The obesity “epidemic” is due to technology and personal devices more than lack of exercise.

Last time I checked people in Colorado had iPhones, TVs, PCs and iPads.

If people restricted their carb intake

If by “carbs” you mean things like non whole wheat pastas/breads, yes. Veggies and fruits are great carbs that are needed for energy and provide other nutrients.

I went “low-carb” but didn’t back fill with more fruits/veggies and paid for it by always being tired.

sleepless
I’m on the same page, but gotta tell you, fruit has a lot of sugar. I gain weight on even an apple (with cinnamon, no less). Avocado is my only fruit. I LOVE them!

The 99C Only store is a sugar orgasm for me. I stay out of it.

I use to be a vegan, and I became Pre-Diabetic, but reversed it by getting my $hit together.

Sizeists gonna size, Bethieboy.

It means plenty if everyone there is as preoccupied with other people’s weight as you seem to be.

People out here don’t seem to obsess about that. They just enjoy the outdoors, which is much easier to do here than in places like the hot and humid South.

Die of thirst or die of heatstroke…….. A distinction without a difference.

Apparently so.

No wonder women often complain about the absence of real men.

Thanks for the response, In Colorado. I hope you are correct. I wouldn’t be surprised if higher altitude discourages hunger pangs.

I hope you are correct. I wouldn’t be surprised if higher altitude discourages hunger pangs

But pot causes hunger pains. Five years from now when Goon is as big as the Goodyear blimp, we will not hear a word from him and if we do he will blame it on AGW.

I wouldn’t be surprised if higher altitude discourages hunger pangs.

I really think it’s the lifestyle. People here really do seem to be more active. When my brother visited from North Carolina he said that the difference here is noticeable.

Also, heavy, fried food isn’t popular out here. There’s nothing here like Bojangle’s. I think there are two Krispie Kreme stores in the whole state.

Don’t get me wrong - I think it’s great when people exercise and get in shape. “It feels great” is what should be promoted, not the “health issue” or the “looking good” angles.

I find the game of one-upmanship based on appearance and physical fitness to be laughable (are we still in high school?).

It’s downright hilarious when men act like some diva from a 1980s nighttime soap.

The divas on this board aren’t the women.

I find the game of one-upmanship based on appearance and physical fitness to be laughable (are we still in high school?).

Sorry if came off like that but I do believe that getting good fats from foods like salmon and nuts are important. My father had a massive heart attack at 50 and had uncontrollable blood pressure when he was in his thirties.

You didn’t Dan. I meant it as a general observation.

are=is

“It feels great” is what should be promoted, not the “health issue”

Are you serious? People shouldn’t care about their health?

No wonder women often complain about the absence of real men.

That is a whole different ball of wax, best discussed elsewhere.

I find the game of one-upmanship based on appearance and physical fitness to be laughable (are we still in high school?).

Sounds like goonie hit a nerve.

“hit a nerve”

Forget high school, let’s take it all the way back to 3rd grade.

You, Carl Morris, and myself stole MacBeth’s bookbag and we are running around him in a circle playing keepaway, and he’s too slow to catch any of us

People shouldn’t care about their health?

+1. I’d like to hear more about how that works.

I agree that “looking good” shouldn’t be a focus because it leads to diets/exercise that aren’t sustainable. If you focus on good health, the others follow. Has to be a lifestyle.

It’s both, let’s be honest. Firstly, I avoid the medical field as much as possible. Staying healthy through diet and exercise is a high priority.

Secondly, I like clothing and want to look like a well put together lady. Land Whales as friends, has taught me a lot. They look like slobs and can’t do things with me. NASA/JPL’s last open house was a disaster. Obesity slowed us down and we had to leave early.

Thirdly, I have an obese family, and my mother has had cancer 4 times. I refuse to go there, if at all possible.

Four, I have to see my naked body. I women should look like a lady until the end.