Followed by 6
Ignored by 2
In United States
Registered Dec 02, 2009
Your whole life is summarized by the credit card you carry.
You have your debit card,
you have your no benefit credit card,
you have your gold, platinum and black card.
My old boss and father-in-law carries the Amex Black, which inspires me to work on the same. It says a lot about yourself and what you demand of yourself. Some poeple want surf and turf, some wants caviar and Foie Goie yet some just want a full stomach.
What do you want in your wallet?
SFace's most recent comments:
- On 1 Sep 2014
Patrick wants to open a competitive wine bar,
High fixed cost. Heavy capex and inventory commitment makes this a no go. Just how are u going to secure good inventory at favorable price in high ass rent san Francisco. What's your edge. Competitive advantage, industry expereience, insider knowledge?
There is such a bar, it is located in treasure island in a warehouse type facility.
You can count in the fingers of your hand the actual amount of people that actually care about variety or that type of knowledge. If they do, the wineries come to them.
- On 27 Aug 2014
My first real estate bear thread (ever),
This is the freakin fed, it will choose inflation over deflation.
The fed is as predictable as the morning sun, you can forget about any deflation scenario.
- On 25 Aug 2014
Why your house is a terrible investment,
e-man, sface, icloud15, strategist...
Buy this scenario or think is BS? Pse don't talk about 2009-2012, we're in Aug 2014. Should buy or rent now? Should we be leveraged or not?
If you are staying for 10+ years and get prime rates, then there is little risk to buying.
If you are looking to flip or rent, better make sure the cash flow supports it long term.
I look at WFB HOI index. locally, we are in the more unaffordable range bewteen 6% and 32%. It is around 12% now. Nationally is more affordable and in the middle range so it is damn if you do and damn if you don't.
The economy is just starting to heat up as can be discerned from job gains recently. The damn thing is the interest rate is priced like a recession and depending on local, it can be hot or cold. So in the bay area, we have a hot economy but interest rate like a recession. Inflation is starting to pick up and wage increase will be demanded in the next3 years.
There is an interest rate risk, as q quick prime rate increase will damage housing locally. But this is the fed which is as predictable as the morning sun, it'll be pushed back just as usual.
housing has been underbuilt since 2010 which works in favor of owning land. In 2004, some 2M homes were consructed, now it is half of that for a medium period. I don't see a slash and burn scenerio like 2006 as none of the elements applicabel then are even remotely visible now. the homebuilders has decided to pursue margins over volume which is disasterous to a prospective buyer and that will not change the rest of this decade.