WatchThe greedy and shortsighted who are buying up badly constructed “shitboxes” is giving rise to an equally greedy group — plumbing repair/construction/general contractors. What goes around comes around. Greedy real estate investors meet your new best friend — dishonest and unskilled repair man/person. Find one if you can, and be very, very nice to them, especially if you live far away from your hot new investment.
From Jersey Girl.
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I don't know any stats, but it would be interesting to see if the home construction/repair industry has had as many people entering the industry as RE. It would make sense wouldn't it? And if tons of people are entering the industry thinking it's the hot new thing, I bet most of them are jumping in without experience or training, kind of like all the newbie realtors(tm).
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The decline in craftsmanship started well prior to the bubble. There was a time when home ownership held considerable prestige. However; with all of the access to easy money and our mobile society no one in the "trades" is too concerned that you don't give them high marks. There have been a number of instances here in the Portland, OR area where homes only a few years old have had to go through extensive repairs due to mold/mildew. Another aspect of the problem is that fierce comp. has brought on the use of unskilled labor w/o much supervision. I can understand if a builder bit off more than he can chew but the sudden wealth effect means that these guys are snowmobiling in Idaho or scuba diving and can't be bothered! The bubble has only made it worse.
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Peter,
Looks like October is only getting crazier. Refco, bond yields, stock market.
Based on everything that’s going on in the market I think we are in for a long bear market in real estate.
I think the Fed will chase inflation for the next six months and kill the coastal real estate.
It is getting crazy. The mood has changed and is worsening by the day.
I have not doing enough to position myself though. I double doubt the FED will paused until rate is at or above 5%.
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Who thinks punishing employers who provide health insurance to their employees is a good idea?
Can't you "donate" into a "charity" trust fund which will be used to pay for your employee's health benefits? ;)
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The pendulum is still swinging in a really bad direction for the middle class and lower. I wonder how extreme things can get before there’s a strong reaction.
It has never been a pendulum. Think tectonic plates instead.
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Will this fucking bullshit never end? I'm am just so sick and fucking tired of the same old bullshit being crammed down my throat. There is virtually no industry here anymore, the economy isn't great, it sucks, the housing market is a sham, yet "they" keep beating the drum. I shutter to think what is going to happen soon, we as a country are broke. What happens when the party's over and the lights get turned back on? Kind of like a bar at 2:00am?
http://tinyurl.com/744ye
ITS A MIRAGE!
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You must have a lot of spare money to put in that savings account, or perhaps you haven’t looked at medical bills and insurance bills recently. If employers stopped providing health insurance, there would be very serious repercussions for many people.
The market will adjust. Health care is a regressive tax. The industry does not make a lot more from rich people than from poor people.
How much is health insurance for a family? At most $1K per month? Many people pay that much *extra* in property tax when they move anyway.
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What happens when the party’s over and the lights get turned back on? Kind of like a bar at 2:00am?
What we're seeing here are the last desperate party goers hoping to get in the door just before they close. I can't help but remember all the stories about the day traders during the dot.bomb bubble. The stories were unbelievably optimistic with a "you can't lose" tone that defied logic. This is typical mania behavior I think. Take this in hand with TV shows like "Flip this House" and I think it's pretty obvious the end is near.
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You must have a lot of spare money to put in that savings account, or perhaps you haven’t looked at medical bills and insurance bills recently. If employers stopped providing health insurance, there would be very serious repercussions for many people.
We get excellent coverage through my husband's work, I'd hate to lose it. My parents pay for their own insurance out of pocket and it's quite a bit more, even taking age and health into account.
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Yes, $1000/mo sounds in the right ballpark at this time, but it will surely be even higher in the future. Are you saying that it’s ok to shift this burden to the employees, and that they can swallow it? That’s a lot of money for most people.
Not that it is ok or not. The market is amoral but it will adjust. Perhaps we will see lower overall health care costs?
I do *not* support this move in eliminating tax benefit for providing health coverage. However, the market can adjust if it does become law.
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How would this lower health care costs? The likely “adjustment” is that even more people will be uninsured, and health care costs will go up rather than down. It will also be a big blow to the middle class pushing them further down toward poverty.
Screw the poor, they stink on ice.
History of the World Part I
The goal seems to be a class of indentured servants or cannon fodder.
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How would this lower health care costs? The likely “adjustment” is that even more people will be uninsured, and health care costs will go up rather than down. It will also be a big blow to the middle class pushing them further down toward poverty.
The health care market will become more competitive because companies will have to go after individuals. Also, there will be more political pressure to lower health care costs.
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In terms of house prices gong down- I doubt it. We seem as a country, to be running low on water, anti-growth regulation isn’t going away soon, building codes are nuts; wood, concrete, oil, are all going to be more expensive; and as you pointed out, it’s hard to find anyone who knows how to build or fix anything, so those that do know can charge what the market will bear.
Ever heard of asset bubbles?
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And your web site is: www.cdelmarrealestate.com?
No wonder!
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Talking aboug fengshui, some houses I've seen here in the Bay Area have serious problems to fengshui believers. The basic one would be having the staircase leading directly toward the main entrance of the house. That is a big fengshui no-no. Staircase leading toward the main entrance means your wealth (and your wife) has a good chance of leaving you.
Personally, I think fengshui is a load of crap. However, rules like not having a staircase leading directly to the main entrance still has some sort of effects on me (just like the popular superstition of Friday the Thirteenth). Somehow, fengshui even creeps into the local government level. I believe once seeing the news of San Francisco City Hall (or San Jose?) passing a resolution requiring its offices to conform to fengshui. I believe the fengshui merchandise and book vendors have pretty good lobbyists.
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The number of individuals who are covered by group plans that would pay for individual coverage is small. Would healthy young people making not much money go out and buy a health care insurance policy? Come now. Think it through.
Fine. You are right as you name would imply.
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Personally, I think fengshui is a load of crap.
IMO, feng shui and astrology are good references. We should not ignore them.
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I am in no way, shape or form required to provide coverage for my employees. None of my competitors do so. Yet, I am morally obligated to do all I can for those I am responsible for. Eventually, this country will either come around to my way of thinking or perish.
Kudo to you. I have to agree.
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I shudder to think what is going to happen soon, we as a country are broke.
Personally, I think the US is already broke, living on borrowed money and time.
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Have you heard about the Health Saving Account (HSA)? You can put money aside to pay for your high deductible plan and other healthcare expenses. The money is deducted out of your paycheck before tax. It earns interest, and if you don't have to spend it all within a tax year.
Sounds pretty good, doesn't it? But I wonder if the IRS has any problems with it. I've looked around but don't see a lot of HSA plans. One of the few is from Google Ad: http://tinyurl.com/757fs .