comments by ThreeBays

ThreeBays   befriend (1)   ignore (1)   Tue, 14 Jun 2016, 10:23pm PDT   Like   Dislike     Share   Quote   Comment 1

I'm super disappointed nobody called Godwin’s Law.

ThreeBays   befriend (1)   ignore (1)   Tue, 14 Jun 2016, 10:35am PDT   Like   Dislike (1)     Share   Quote   Comment 2

Yeah, keep telling yourself that. Trump is supporting intolerance to muslims, and increased power to security agencies. The more we destroy our own country's values in response to fear of terrorism, the more they won.

ThreeBays   befriend (1)   ignore (1)   Tue, 14 Jun 2016, 10:12am PDT   Like (1)   Dislike (1)     Share   Quote   Comment 3

Your man Trump sounds more like another man who wanted to make his country great again (Hitler).

ThreeBays   befriend (1)   ignore (1)   Thu, 9 Jun 2016, 12:01am PDT   Like (1)   Dislike     Share   Quote   Comment 4

The Clintons give like 10% of their income to charity, which is a good amount.

What would REALLY make a difference to people in need is if the 99% gave less charity to "religion" (over $100 billion annually) and more to those in need.

ThreeBays   befriend (1)   ignore (1)   Wed, 4 May 2016, 5:32pm PDT   Like (1)   Dislike     Share   Quote   Comment 5

Ignorance is bliss.

/The Matrix

ThreeBays   befriend (1)   ignore (1)   Fri, 15 Apr 2016, 6:27pm PDT   Like (1)   Dislike     Share   Quote   Comment 6

That's the rent changing to reflect the current market, after being rent controlled for 9 years.

ThreeBays   befriend (1)   ignore (1)   Sun, 25 Oct 2015, 11:11pm PDT   Like   Dislike     Share   Quote   Comment 7

Not surprising with the lack of education. Only about 1 in 3 have a Bachelor's degree. Only about 1 in 3 of those are in STEM. Guess who's more likely to be in the top 10%?

What does it take to keep a middle class family on one income? (white college educated male) http://www.bls.gov/opub/ted/2015/median-weekly-earnings-by-education-gender-race-and-ethnicity-in-2014.htm

Majors that pay: http://www.payscale.com/college-salary-report/majors-that-pay-you-back/bachelors

ThreeBays   befriend (1)   ignore (1)   Sat, 24 Oct 2015, 8:21pm PDT   Like   Dislike (1)     Share   Quote   Comment 8

Ironman says

Private insurance statistically pays out less than it takes in. None of your individual examples change that, or explain how SS could pay out more than it took in overall.

Private insurance also readjusts the premiums it charges annually to compensate for what it pays out. Just go ask anyone who just got their health insurance renewal for Obamacare and they see the HUGE jump to cover all the newly enrolled of the past year.

Exactly. If the SS fund is on track to go bankrupt, they should raise revenues or cut benefits NOW (or 10 years a go). Boomers still in work, Gen X and Millennials should be compensating for the gap. Instead they are kicking the can down the road which is essentially taking more from future generations to give to Boomers followed by X'ers.

ThreeBays   befriend (1)   ignore (1)   Sat, 24 Oct 2015, 9:21am PDT   Like   Dislike     Share   Quote   Comment 9

Ironman says

That's an idiotic statement in the context of a discussion on social security.

Not idiotic. What happens to the boomer who dies at 65 after paying in for 50 years. How does he collect his S.S.?

Private insurance statistically pays out less than it takes in. None of your individual examples change that, or explain how SS could pay out more than it took in overall.

ThreeBays   befriend (1)   ignore (1)   Thu, 22 Oct 2015, 10:40pm PDT   Like   Dislike     Share   Quote   Comment 10

Any single engineer at Google can afford $2k rent. Don't forget bonuses & stocks, and free meals, transportation, gym, laundry. Majority of income after rent is disposable income.

ThreeBays   befriend (1)   ignore (1)   Wed, 21 Oct 2015, 8:39pm PDT   Like   Dislike     Share   Quote   Comment 11

I thought America's irresponsible retirees are going to leave a ton of debt for the younger generation.

For the 40% of boomers that have no retirement savings it doesn't matter. For those that do, doesn't the asset price inflation help them?

ThreeBays   befriend (1)   ignore (1)   Fri, 16 Oct 2015, 9:15am PDT   Like   Dislike     Share   Quote   Comment 12

bob2356 says

Strategist says

The 70 million additional souls in the US by 2035 is the overriding demographics. All those boomer homes will get absorbed. Except in the frost belt.

and you got these numbers from where? Most projections are in the almost 40 million range by 2050 with 25 million being immigrants. So the 25 million new immigrants, who are mostly poor, are going to buy most of the 70 million boomers houses? I don't think so.

Where are you getting 40 million by 2050 from? The projections you linked have 175.4 million Births, 41.2 million immigrants = 216.6 million "new souls" by 2015. Subtract 128.4 million deaths = 88.2 million *net increase*. Not only will take over all the boomer's houses, they will also need homes for 88 million more.

Take a look at the current population clock http://www.census.gov/popclock/. There is a *net* gain of 2.4 million souls per year.

Anyway it's not the millions of babies who are going to buy the boomers houses, it's Millennials plus immigrants.

ThreeBays   befriend (1)   ignore (1)   Tue, 13 Oct 2015, 8:45pm PDT   Like (1)   Dislike     Share   Quote   Comment 13

Lost 2 houses = think buying houses is the worst thing you ever did

Bought home in Bay Area in 2009 = think you are a fricking genius

ThreeBays   befriend (1)   ignore (1)   Fri, 9 Oct 2015, 7:44pm PDT   Like   Dislike     Share   Quote   Comment 14

SoftShell says

Problem is, all house prices go up so equity doesn't help much to 'move up', unless one considers moving to a cheaper area 'moving up'...

True, but not so simple. Moving up requires equity to cover selling costs of your current home and for buying a more expensive home. If you have good equity growth you can move up without a lot of liquid savings. If you have 0 equity growth then you will need to save up longer to move up. If you have equity decline you may not be able to move up at all.

That said, in California it is not a good idea to "move up". You lose your Prop 13 advantage, resetting property taxes to market prices. You are far better renovating and extending your home. If you have to move then it is better to rent out your home. If you have to sell, it is better to renovate and extend the home before selling to make it sell at a higher market price, covering more of your "move up" cost.

ThreeBays   befriend (1)   ignore (1)   Mon, 28 Sep 2015, 10:38pm PDT   Like (1)   Dislike     Share   Quote   Comment 15

"The pending sales index was 109.4 on a seasonally adjusted basis. A reading of 100 corresponds to the average level of contract activity in 2001, or “historically healthy” home-buying traffic, according to the NAR."

So overall healthy levels then?

ThreeBays   befriend (1)   ignore (1)   Fri, 25 Sep 2015, 11:28pm PDT   Like   Dislike     Share   Quote   Comment 16

Logan Mohtashami says

Wouldn't purchase applications also be affected by the lack of supply? Also if the market has above average % cash buyers, doesn't this lower mortgage apps too? Can't buy a home with a mortgage if there's no home to buy with a mortgage.

Btw I just bought a house, so I'm about to transform from a perma housing bear mogwai, to a house cheerleading gremlin.

ThreeBays   befriend (1)   ignore (1)   Sat, 5 Sep 2015, 9:22pm PDT   Like (1)   Dislike     Share   Quote   Comment 17

Yes, fundamentals. I'm generally a bear on housing, but I see rentals in the area as about on par or more expensive than owning at today's interest rates.

ThreeBays   befriend (1)   ignore (1)   Sat, 5 Sep 2015, 11:41am PDT   Like (1)   Dislike (1)     Share   Quote   Comment 18

MoneySheep says

The average individual will live a happier life if they avoid debt.

Research had shown, if you are not yet wealthy but want to be someday, never purchase a home that requires a mortgage that is more than 2x your total annual income. Better yet, pay cash for it.

Timing matters.

Here's a (true life) scenario:
Neighbor (A) bought a 3BR SFH in Bay Area Penninsula for $900k in 2012 with 20% down ($180k cash). He has PITI around $3500/mo, with $1400 of that for principal. The home is now worth $1.3M. He now has over $600k equity and $2100 monthly outflow for housing.

Neighbor (B) rented, and now has a rent of $4500 for the same kind of 3BR SFH. His $180k cash grew 30% (post-tax) in three years, now worth $235k.

(A) has over double the wealth, and half the cost for the same house, and the cost is going down over time. (A) will be able to buy a 2nd house faster than (B) will buy his 1st. When (B) does buy he'll be saddled with higher property taxes than (A) for the life of owning the home.

My research has shown, if you are not yet wealthy but want to be someday, you better have good timing when you purchase a home.

ThreeBays   befriend (1)   ignore (1)   Fri, 4 Sep 2015, 11:37pm PDT   Like   Dislike     Share   Quote   Comment 19

Ironman says

Example, I did a quick search for a similar sized house in the OP. Here is what $190K buys you here versus 3.4 Mil in Palo Alto:

Which mortgage do you want to pay??

Palo Alto is one of the more extreme examples in the Bay Area. People don't pay $3M to live in a tiny shack, it's just for the location. They pay $3M for the shack to knock it down at put up a fancy custom home.

ThreeBays   befriend (1)   ignore (1)   Tue, 25 Aug 2015, 7:52am PDT   Like   Dislike     Share   Quote   Comment 20

Surprise surprise, majority of Republicans think the leading Democratic nominee should suspend her campaign (insert reasons).

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