Patrick.net

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Oakland, CA
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In United States
Registered Feb 22, 2011

Rickshaw's most recent comments:

• On 30 Apr 2012 in Anyone here feel cheated?, Rickshaw said:

  Why not rent in Oakland? There are many fantastic neighborhoods and it offers an easier commute to downtown SF than many of the neighborhoods in SF. But you haven't experienced it yet, so why lock in when you can test it out with renting? Let housing be consumption, not an investment. Then, buy after you are certain that you like the area and want to stick around.

• On 23 Feb 2011 in The future of home prices? The biggest variable has nothing to do with the economy or rates., Rickshaw said:

  Thanks to all for your thoughtful comments!
  Isn't the AMT taxable amount reduced by MID as well as the amount with deductions?

  The point that my post is trying to make is that MID has a magnified affect on Bay Area home values. That and borrowers using floating rate money continue to justify a market that is not supported by income. I'm a four year reader of patrick's link's though this is my first post. As a finance guy I buy into the logic that residential real estate doesn't make sense as an investment. Though, i'm coming around the the conclusion that it might make sense as consumption assuming i have a long time horizon and the MID stays in place.

  It's really amazing how much the US gov't subsidizes real estate. It's like crack cocaine and I'm not sure how policy makers will ever be able to pull the subsidy, even in the possibility of crazy inflation comes to pass.