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No relief as Nor. California prices continue to accelerate


By iwog   Follow   Thu, 18 Apr 2013, 2:36am PDT   5,484 views   179 comments
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There isn't any improvement in inventory either. Most people I talk to say they have no intention of selling until prices return to 2006 levels.

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RentingForHalfTheCost   Mon, 22 Apr 2013, 3:35pm PDT   Share   Quote   Permalink   Like   Dislike (1)     Comment 140

iwog says

on a market you knew nothing about?

Again, you are the holder of the truth. Such a fool. Good luck anyway, even though people like you really don't deserve it.

iwog   Mon, 22 Apr 2013, 3:37pm PDT   Share   Quote   Permalink   Like (2)   Dislike     Comment 141

RentingForHalfTheCost says

Again, you are the holder of the truth. Such a fool. Good luck anyway, even though people like you really don't deserve it.

I'm not the holder of truth, I was just right.

If I was wrong, I'd be an arrogant asshat to continue preaching how the real estate market works. I'd be an arrogant asshat to continue preaching how the mortgage market works.

Know anyone like that?

I'll even amend this to add: I don't even care if you do disagree with me. At least have a fucking explanation for why you were wrong!!!!! Everything you post is exactly the same thing you posted 1.5 years ago.

kmo722   Mon, 22 Apr 2013, 8:20pm PDT   Share   Quote   Permalink   Like   Dislike     Comment 142

"Again no. These are mortgage bonds attached to real property in a rising market. Taxpayers will not be on the hook for a dime since even in default, foreclosure should pay back the debt."

Two points:

1. "mortgage bonds attached to real property". or, to put it another way, the Fed is buying houses... I know, I know, you just didn't like to read it that way because it sounded dirty to you and took some air out of your ego.... thank you for acknowledging the realities of what is actually going on..

2. "Foreclosure should pay back the debt".. were you laughing when you wrote that or do you honestly believe that ? Do we have any recent history to guide us on this ? Is there a chance for a 10% RE market correction ? 20% ? How's that taxpayer / foreclosure math work then ? Are RE prices affected by the estimated value of future rents ? Will future rents always be rising even if future prices are projected to fall ? How does that math work ? Do wage - price ratios for loaning money on RE matter more or less when RE prices are falling ?

RentingForHalfTheCost   Tue, 23 Apr 2013, 12:36am PDT   Share   Quote   Permalink   Like   Dislike (2)     Comment 143

iwog says

If I was wrong, I'd be an arrogant asshat to continue preaching how the real estate market works. I'd be an arrogant asshat to continue preaching how the mortgage market works.

Huh? Isn't that what you are doing. You said it.

iwog   Tue, 23 Apr 2013, 12:42am PDT   Share   Quote   Permalink   Like (1)   Dislike     Comment 144

RentingForHalfTheCost says

Huh? Isn't that what you are doing. You said it.

Nope. I wasn't wrong.

RentingForHalfTheCost   Tue, 23 Apr 2013, 12:49am PDT   Share   Quote   Permalink   Like   Dislike (1)     Comment 145

iwog says

I'll even amend this to add: I don't even care if you do disagree with me. At least have a fucking explanation for why you were wrong!!!!! Everything you post is exactly the same thing you posted 1.5 years ago.

I already said I was wrong about the market here in the SFBA. I never realized that the Feds would steal more from my grandkids future to save people like you. 6 Fucking Trillion, you have to be kidding me. I'm already working on an exit plan from this bankrupt country. It will not end well and many people know that. Debt is the Elephant in the room everyone is ignoring.

You were right for the last 1.5 years. Good for you Iwog. I guess you knew that interest rates were going to keep going lower and we keep adding to the debt. 45Billion of free money each month, while our poor keep getting poorer. While you count your virtual money people are scraping by and you then take this platform to call people every name in the book. You and Roberto are why I hate this country so much. It could be great, but greed has fucked up everyone. You think the game is about predicting the future, about stepping on those that don't believe what you say. If you were so good, you would be here each and every day crowing. You are, so that tell me alot. I'm here as well, so I suck as well.

I doubt you will prosper as well in the next few years. Interest rates have bottomed at this point and now we get to see just how sick this market really will become. If I were you I would take some off the table before it happens. But, not you, keep swinging for the fences you GREEDY FUCK.

RentingForHalfTheCost   Tue, 23 Apr 2013, 12:54am PDT   Share   Quote   Permalink   Like   Dislike (1)     Comment 146

iwog says

RentingForHalfTheCost says

Huh? Isn't that what you are doing. You said it.

Nope. I wasn't wrong.

Just the last 2 day of investment moves has made me a few years of rent. Glad I was wrong. I sure wish I had that loot tied up in SFBA real estate. I guess I am missing the point. Become a debt slave like everyone else and be victim to a Ponzi scheme. Nah, not today.

SJ   Tue, 23 Apr 2013, 1:54am PDT   Share   Quote   Permalink   Like   Dislike     Comment 147

I am looking at Nevada and Florida. Cheaper than California and lower to no state income taxes!

Blurtman   Tue, 23 Apr 2013, 2:30am PDT   Share   Quote   Permalink   Like   Dislike     Comment 148

California has killer weather and scenery in many parts. The less attractive parts resemble Arizona.

dublin hillz   Tue, 23 Apr 2013, 3:03am PDT   Share   Quote   Permalink   Like (2)   Dislike     Comment 149

I don't understand some of the anger around here. If someone does not like renting from a private landlord, they can rent from apartment complex/REIT if they find it more competative. Conversely if someone does not like renting from "greedy corporations", tney are free to rent from a private landlord. If someone does not like renting period, they can do their best to save up money for downpayment and buy. These options are always competative - while individual participants in the marketplace may not always agree on appropriate metrics, in the end these options are always competative unless someone has a section 8/tax credit rental or rent control or was able to buy at Below Market Rate price. Personally, I decided that the best way to beat the system is to buy and pay off the mortgage asap instead of being a lifelong renter here in bay area and I am on track to making that happen.

iwog   Tue, 23 Apr 2013, 3:18am PDT   Share   Quote   Permalink   Like   Dislike     Comment 150

RentingForHalfTheCost says

I already said I was wrong about the market here in the SFBA. I never realized that the Feds would steal more from my grandkids future to save people like you.

Doesn't count. Fed policy today is almost identical to fed policy in 2012 which is almost identical to fed policy in 2011. You never realized that something would happen that was already happening??

RentingForHalfTheCost says

Just the last 2 day of investment moves has made me a few years of rent. Glad I was wrong. I sure wish I had that loot tied up in SFBA real estate. I guess I am missing the point. Become a debt slave like everyone else and be victim to a Ponzi scheme. Nah, not today.

This is a real estate forum on a real estate board. Again and again and again you return to bragging about the stock market and your options trade. No one cares. YOU told someone who was thinking about buying a house in March of 2012, that it was a stupid idea and that he would lose money. You gave horrible awful ignorant advice and someone may have lost a lot of money following it. If I did that, I would feel really bad about it.

Again I don't care which side you take and I don't care what your predictions are and I don't care if you think I'm an idiot. However to pretend that you got it all right, that you've got this wonderful insight, that things are exactly like you thought they would be in the face of being bitch slapped by the market makes you a bad person.

RentingForHalfTheCost says

You think the game is about predicting the future, about stepping on those that don't believe what you say.

I fully admit that one of my major flaws is a total intolerance of dishonest people. I can put up with the most radical insane views. I can "discuss" birther idiocy, 9/11 truther conspiracy, and UFO advocacy even when I think those people have lost their marbles. I cannot however abide by people who think that the anonymous nature of the internet allows them to make up whatever shit they want just so they can pretend to join the conversation.

errc   Tue, 23 Apr 2013, 3:31am PDT   Share   Quote   Permalink   Like   Dislike     Comment 151

Fed policy today is almost identical to fed policy in 2012 which is almost ide to fed policy in 2011. You never realized that something would happen that was already happening??

How do you define "almost identical"?

iwog   Tue, 23 Apr 2013, 3:36am PDT   Share   Quote   Permalink   Like   Dislike     Comment 152

errc says

How do you define "almost identical"?

Entering the fixed income market (bonds) and dumping huge sums of money into long term investments.

There really isn't any difference between a MBS and a Treasury when it comes to total capital available. Prior to QE 3 it was long term treasuries setting mortgage rates and perhaps now it is more mortgage rates driving the long bonds.

This should be clear because the new housing boom started long before QE3 was even announced. (September 2013)

RentingForHalfTheCost   Tue, 23 Apr 2013, 4:00am PDT   Share   Quote   Permalink   Like   Dislike     Comment 153

robertoaribas says

RentingForHalfTheCost says

You and Roberto are why I hate this country so much. It could be great, but greed has fucked up everyone.

says the jackass stock option speculator, who, if I recall correctly, also owns rental property somewhere... Hyprocitical much, you liar?

Still don't understand short covered calls I see. The don't add risk silly, just the opposite. A boy of your math skills should get that. Nah

RentingForHalfTheCost   Tue, 23 Apr 2013, 4:04am PDT   Share   Quote   Permalink   Like   Dislike     Comment 154

errc says

Fed policy today is almost identical to fed policy in 2012 which is almost ide to fed policy in 2011. You never realized that something would happen that was already happening??

How do you define "almost identical"?

You would have to ignore 45B/month and then we get closer. Nothing to see here folks, keep moving. Just your countries future being sold.

iwog   Tue, 23 Apr 2013, 4:11am PDT   Share   Quote   Permalink   Like   Dislike     Comment 155

RentingForHalfTheCost says

You would have to ignore 45B/month and then we get closer. Nothing to see here folks, keep moving. Just your countries future being sold.

45B per month wasn't even announced until September 2012 and didn't actually start until after that.

Your forecast was already dead and buried by that time because the summer of 2012 saw double-digit increases in the bay area. So how can you blame something that hadn't even happened yet?????

RentingForHalfTheCost   Tue, 23 Apr 2013, 4:19am PDT   Share   Quote   Permalink   Like   Dislike (1)     Comment 156

iwog says

I fully admit that one of my major flaws is a total intolerance of dishonest people. I can put up with the most radical insane views. I can "discuss" birther idiocy, 9/11 truther conspiracy, and UFO advocacy even when I think those people have lost their marbles. I cannot however abide by people who think that the anonymous nature of the internet allows them to make up whatever shit they want just so they can pretend to join the conversation.

I think I just figured something out. I'm no professional, but I'll take a stab. What you are demonstrating might be self loathing. There are professionals that can help you with that. They can either help you stay your same prickish self, but be able to love yourself anyway, or help get rid of the prickish character traits and then you wouldn't hate yourself so. You could just use some of that gold, silver, stock, real estate money where you perfectly timed everything to the minute/hour/day and pay for some help. Nah, carry on as you are. At least I see what you are now. ;)

RentingForHalfTheCost   Tue, 23 Apr 2013, 4:25am PDT   Share   Quote   Permalink   Like   Dislike     Comment 157

iwog says

RentingForHalfTheCost says

You would have to ignore 45B/month and then we get closer. Nothing to see here folks, keep moving. Just your countries future being sold.

45B per month wasn't even announced until September 2012 and didn't actually start until after that.

Your forecast was already dead and buried by that time because the summer of 2012 saw double-digit increases in the bay area. So how can you blame something that hadn't even happened yet?????

There you go again creating your own time lines around things to make meaningless points. Interesting...

iwog   Tue, 23 Apr 2013, 4:26am PDT   Share   Quote   Permalink   Like   Dislike     Comment 158

RentingForHalfTheCost says

I think I just figured something out. I'm no professional, but I'll take a stab. What you are demonstrating might be self loathing. There are professionals that can help you with that. They can either help you stay your same prickish self, but be able to love yourself anyway, or help get rid of the prickish character traits and then you wouldn't hate yourself so. You could just use some of that gold, silver, stock, real estate money where you perfectly timed everything to the minute/hour/day and pay for some help. Nah, carry on as you are. At least I see what you are now. ;)

Thanks for the assessment.

iwog   Tue, 23 Apr 2013, 4:28am PDT   Share   Quote   Permalink   Like   Dislike     Comment 159

RentingForHalfTheCost says

There you go again creating your own time lines around things to make meaningless points. Interesting...

It was your timeline. You predicted skyrocketing rates and declines in real estate. By the end of summer, you were proven horribly wrong as both went in the opposite direction.

QE3 wasn't announced until September, however YOU used it as a reason why your prediction failed.

How does that work?

RentingForHalfTheCost   Tue, 23 Apr 2013, 9:42am PDT   Share   Quote   Permalink   Like   Dislike     Comment 160

iwog says

RentingForHalfTheCost says

There you go again creating your own time lines around things to make meaningless points. Interesting...

It was your timeline. You predicted skyrocketing rates and declines in real estate. By the end of summer, you were proven horribly wrong as both went in the opposite direction.

QE3 wasn't announced until September, however YOU used it as a reason why your prediction failed.

How does that work?

Told you why, you just don't listen. Seems to be a common theme with you quacks. You want housing to go up so bad, you close your eyes and ears to any theory that is against your greedy chops. If I was your renter I'd be breaking the pipes for fun. ;)

RentingForHalfTheCost   Tue, 23 Apr 2013, 9:43am PDT   Share   Quote   Permalink   Like   Dislike     Comment 161

robertoaribas says

RentingForHalfTheCost says

They can either help you stay your same prickish self, but be able to love yourself anyway,

that works for me!!!

Hey, how about someone that makes shit up online? like after the fact mythical option trades, because he has a HUGE need to feel important, which is ironic since his profile is anonymous? Must be a serious ego need, that can't be filled if you have to even lie while anonymouse!!!

Where should someone like that get help?

Definitely not by moving to slum city Phoenix. If the sun doesn't kill you from skin cancer then you'll probably get shot from a drunken landlord pissed at the world.

iwog   Tue, 23 Apr 2013, 9:45am PDT   Share   Quote   Permalink   Like   Dislike     Comment 162

RentingForHalfTheCost says

Told you why, you just don't listen. Seems to be a common theme with you quacks. You want housing to go up so bad, you close your eyes and ears to any theory that is against your greedy chops. If I was your renter I'd be breaking the pipes for fun. ;)

You didn't answer anything. The bottom line is fed policy has remained a constant since 2009. 0% short term rates, QE in the bond market, and a forward looking forecast of continued easing. The round commonly known as QE3 didn't start until long after the market had shot up double-digits.

Blaming the fed for being wrong is the same as blaming yourself for ignoring evidence that you were going to be wrong.

RentingForHalfTheCost   Wed, 24 Apr 2013, 12:45am PDT   Share   Quote   Permalink   Like   Dislike     Comment 163

iwog says

RentingForHalfTheCost says

Told you why, you just don't listen. Seems to be a common theme with you quacks. You want housing to go up so bad, you close your eyes and ears to any theory that is against your greedy chops. If I was your renter I'd be breaking the pipes for fun. ;)

You didn't answer anything. The bottom line is fed policy has remained a constant since 2009. 0% short term rates, QE in the bond market, and a forward looking forecast of continued easing. The round commonly known as QE3 didn't start until long after the market had shot up double-digits.

Blaming the fed for being wrong is the same as blaming yourself for ignoring evidence that you were going to be wrong.

Not true.

RentingForHalfTheCost   Wed, 24 Apr 2013, 1:21am PDT   Share   Quote   Permalink   Like   Dislike     Comment 164

robertoaribas says

RentingForHalfTheCost says

Told you why, you just don't listen. Seems to be a common theme with you quacks. You want housing to go up so bad, you close your eyes and ears to any theory that is against your greedy chops. If I was your renter I'd be breaking the pipes for fun. ;)

you are just a worthless liar.

AND, neither IWOG or I truly cares if housing goes up or down; If it were to actually drop again, we'd buy more. I am recapitalizing at a furious pace, Since it would take at least 1.5 to 2 years for the Phoenix prices to reverse, which there is zero sign of to date, I'd be more than ready to begin buying again.

Prices up, I win... Prices down, I win anyways. get used to it.

Jeez, all you both do on here is talk about housing going up. You must be on meds as well. Just a quack also. You are both like two immature gorillas beating your chests. Very funny to see. Good luck to you anyway. Keep up the intervals to burn off that steam in your head. It might make things more stable for you.

RentingForHalfTheCost   Wed, 24 Apr 2013, 1:22am PDT   Share   Quote   Permalink   Like   Dislike     Comment 165

iwog says

You didn't answer anything.

Not you you obviously, because it differs from what you think. Only your view is real I guess. Good luck to you anyway up there in Concord land. Visit the tenants during the day is my only advice.

iwog   Wed, 24 Apr 2013, 1:28am PDT   Share   Quote   Permalink   Like   Dislike     Comment 166

RentingForHalfTheCost says

iwog says

You didn't answer anything.

Not you you obviously, because it differs from what you think. Only your view is real I guess. Good luck to you anyway up there in Concord land. Visit the tenants during the day is my only advice.

Like all of your other advice, total failure. You just reek of ignorance on every level, don't you:

RentingForHalfTheCost   Wed, 24 Apr 2013, 2:24am PDT   Share   Quote   Permalink   Like   Dislike     Comment 167

iwog says

RentingForHalfTheCost says

iwog says

You didn't answer anything.

Not you you obviously, because it differs from what you think. Only your view is real I guess. Good luck to you anyway up there in Concord land. Visit the tenants during the day is my only advice.

Like all of your other advice, total failure. You just reek of ignorance on every level, don't you:

Thanks for making my point. 1 in 283 sucks dude, hate to break it to you. Chances are you have a serious offender as a tenant right now. Use the daytime to fix up your place or collect late rent. Might be a good idea to bring a guard dog as well. Oh, and lock your car up. People go to great extents to get that mortgage debt money. Don't want to be late on the bank payment. Better to be late paying the drug dealer.

RentingForHalfTheCost   Wed, 24 Apr 2013, 2:29am PDT   Share   Quote   Permalink   Like   Dislike     Comment 168

iwog says

RentingForHalfTheCost says

iwog says

You didn't answer anything.

Not you you obviously, because it differs from what you think. Only your view is real I guess. Good luck to you anyway up there in Concord land. Visit the tenants during the day is my only advice.

Like all of your other advice, total failure. You just reek of ignorance on every level, don't you:

19 for Concord out of a score of 100. Where 100 is the safest. Not so good there Iwog. Say in a locked house at night please.

http://www.neighborhoodscout.com/ca/concord/crime/

Anyone looking at this thread can hopefully see how you just cherry-picked from that website to make your point. That seems your style on everything.

iwog   Wed, 24 Apr 2013, 2:31am PDT   Share   Quote   Permalink   Like   Dislike     Comment 169

RentingForHalfTheCost says

19 for Concord out of a score of 100. Where 100 is the safest. Not so good there Iwog. Say in a locked house at night please.

I live in Lafayette.

Concord's violent crime rate is below the California average and below the national average. You're really so scared that you consider this dangerous?

RentingForHalfTheCost says

Anyone looking at this thread can hopefully see how you just cherry-picked from that website to make your point. That seems your style on everything.

Maybe because property crime isn't relevant to your comment about being safe at night you stupid twit. Is it possible for you to remember what you typed 5 minutes prior??

RentingForHalfTheCost   Wed, 24 Apr 2013, 3:01am PDT   Share   Quote   Permalink   Like   Dislike     Comment 170

iwog says

Maybe because property crime isn't relevant to your comment about being safe at night you stupid twit. Is it possible for you to remember what you typed 5 minutes prior??

Even the website said concord is only safer than 19% of the cities in the US. Your the twit would reads things as you want to see it.

Crimes per square mile

Concord - 146
California - 85
National Avg - 39.6

Get a clue Iwog.

RentingForHalfTheCost   Wed, 24 Apr 2013, 3:05am PDT   Share   Quote   Permalink   Like   Dislike     Comment 171

robertoaribas says

AND, neither IWOG or I truly cares if housing goes up or down

You definitely crow a lot for people who don't care. I care, and am not afraid to admit it.

iwog   Wed, 24 Apr 2013, 3:08am PDT   Share   Quote   Permalink   Like   Dislike     Comment 172

RentingForHalfTheCost says

Even the website said concord is only safer than 19% of the cities in the US. Your the twit would reads things as you want to see it.

Concord is a nice place and your elitist asshole attitude is ridiculous but not unexpected.

According to that site, Pleasanton is in the bottom 50%. Do you agree with that?

RentingForHalfTheCost   Wed, 24 Apr 2013, 3:29am PDT   Share   Quote   Permalink   Like   Dislike     Comment 173

iwog says

RentingForHalfTheCost says

Even the website said concord is only safer than 19% of the cities in the US. Your the twit would reads things as you want to see it.

Concord is a nice place and your elitist asshole attitude is ridiculous but not unexpected.

According to that site, Pleasanton is in the bottom 50%. Do you agree with that?

Haha, bottom 50 is the same as the top 50. Both are a far cry from bottom 19. I would agree with 50 for Pleasanton, then I enhance it by living in an area high in the hill where most criminals don't have the energy to travel. I also have a nice sharp toothed dog on the off chance.

Buying cash flow positive properties in Concord I'm sure has you travelling to the wrong side of the tracks sometimes. Just be careful dude, life trumps money all the time.

RentingForHalfTheCost   Wed, 24 Apr 2013, 4:01am PDT   Share   Quote   Permalink   Like   Dislike     Comment 174

iwog says

RentingForHalfTheCost says

Even the website said concord is only safer than 19% of the cities in the US. Your the twit would reads things as you want to see it.

Concord is a nice place and your elitist asshole attitude is ridiculous but not unexpected.

According to that site, Pleasanton is in the bottom 50%. Do you agree with that?

Looks like a good population living in Concord at the moment.

http://mapsexoffenders.com/search.php?url=http://www.meganslaw.ca.gov/disclaimer.aspx?lang=ENGLISH

RentingForHalfTheCost   Wed, 24 Apr 2013, 7:34am PDT   Share   Quote   Permalink   Like (2)   Dislike     Comment 175

robertoaribas says

rentingwithhalfabrain:

you must really have a ton of bitterness over not understanding this real estate market, to spend the energy you do trying to prove otherwise...

Its fun to watch, like a slow moving train wreck!

Yah, I don't understand real estate, anyone who says they do is kidding themselves. Predicting the end of a Ponzi scheme is dangerous to say the least. All aboard!!! As we head to the land of decaying housing and flood zone, asbestos ridden, earthquake prone land. This can be yours for just 30 years of pain and suffering. Come and get it!

iwog   Thu, 25 Apr 2013, 12:24pm PDT   Share   Quote   Permalink   Like   Dislike     Comment 176

RentingForHalfTheCost says

As we head to the land of decaying housing and flood zone, asbestos ridden, earthquake prone land.

No desperation here folks. lol

During the Loma Prieta earthquake, I think a massive .001% of housing in the Bay Area suffered some sort of damage. Scary stuff.

JodyChunder   Thu, 25 Apr 2013, 1:02pm PDT   Share   Quote   Permalink   Like   Dislike     Comment 177

The concern isn't so much your residence as it is being on one side of the bridge when the Big One hits while your spouse is on the other side...

...depends on how you feel about your spouse, of course.

Homeboy   Thu, 25 Apr 2013, 1:28pm PDT   Share   Quote   Permalink   Like   Dislike     Comment 178

iwog says

Most people I talk to say they have no intention of selling until prices return to 2006 levels.

The only reason prices ever got that high was because the banking industry was running a giant ponzi scheme. I don't see how that could happen again without it being followed by another collapse of the banking system. Loans are a bit easier to get now, but nowhere near like it was in the run-up to 2006, when anybody who could fog a mirror got a loan for as much as they wanted. Maybe we're doomed to repeat the same bubble, bust, bailout cycle for the rest of time. I sure hope not.

If prices ever get back to 2006 levels, I'd seriously consider selling and just renting a place, then wait for the next bust. But I think by then I'll be a bit old for that shit.

Bigsby   Thu, 25 Apr 2013, 1:40pm PDT   Share   Quote   Permalink   Like   Dislike     Comment 179

JodyChunder says

The concern isn't so much your residence as it is being on one side of the bridge when the Big One hits while your spouse is on the other side...

...depends on how you feel about your spouse, of course.

Ba dum tish.

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