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In United States
Registered May 21, 2009
Austinhousingbubble's most recent comments:
- On 5 Jun 2012
Cost of Ownership vs Renting situation. I did the Math.,
I was having dinner with my uncle-in-law recently when the issue of real estate came up. We got around to monthly expenses and he explained how he bought his last SFH in Santa Clara sometime around '94 or '96 and currently pays a little over six-hundred dollars a month. I don't know what his salary was like at the time, but I know it was well inside of six figures. I actually felt too embarrassed after that to mention that my wife and I had been thinking of buying a place in Sedona with monthly carrying costs upward of 2400, and nudged her under the table when she moved to mention it. I started thinking to myself later: '2400??? What the fuck planet am I from? Has my perception of price/value become that distorted over the years?' (Actually, it's just that I hate subsidizing my landlord. The idea of paying for this shitty little man's vacations every summer has gradually diminished my aversion to overpaying for a house.)
I find it bizarre that his house (maybe 1800 sq ft) was purchased during a period of enormous economic froth and surplus, and yet, now, during a comparatively laggard and precarious economic/labor situation and following on the heels of one of the worst asset/credit bubbles in history, there is still such an appetite for overpriced housing -- and with the emphasis being on monthly affordability!
I realize rates were closer to 7.3 at the time that my uncle bought his place, and 20% down was standard, and it's got pink and silver foil wallpaper in the kitchen, (which is actually pretty bad ass), but still...
- On 30 May 2012
Is buying a house (ever) a good idea?,
Austin TX says
We want to know that our monthly payments will remain the same for fifteen years
They won't be if you're in Austin. TCAD reassesses residential values annually at a rate of 10% appreciation and adjusts your tax bill accordingly.
The smart money is selling in Austin. Prices are fucking goofy here.
- On 17 May 2012
Republican radicalism increasing,
Fuck your reticence