Patrick is providing his free opinion. Like any opinion we as individuals are responsible to make our own decisions. Obviously he sees a home as place to live not an investment vehicle. That is because he is not a speculator so do not expect him to tell you how to gamble on the housing market. Once housing begins its next downturn, he will be proven correct. Then people will blame him for not telling them to sell.
The long term trend on those charts don't look so good.
"You can keep your $900 reduction"
The ugly I could handle at the right price, just not that one.
Yes lets hope this sucker rolls over. Went to a neighborhood open house this weekend. 2300 square foot house listed at 950K. Odd additions, old miss matched flooring, mostly original with no upgrades. In general odd looking and ugly. $4700 a month with 20% down. I think I will stick with my rental.
Thats pretty funny.
Hey Dan8267, Those pictures look like the high density housing they are building all over here in California. You been doing aerial photograpy over cali?
Sorry, I do not buy your premise that we are on the verge of an economic boom. If wages were increasing I might tend to believe your thoughts.
No it's the bone heads that voted those idiots to office.
Do not worry deflation is on its way. housing will not be spared a decline.
It looks and feels much different than last time. Based on my ever increasing long commute there must be plenty of folks working. Until that changes and the foreclosures open up I dont expect it to change.
Houses here in east bay seem to sell at a premium. There is very little inventory.
Say it is not so, a crooked politician in California?
Previously underwater buyers, banks, abd the government
He also said subprime was contained and there was no housing bubble. Which end of the donkey do you trust?
The only people working 4 days per week are part time.
Hopefully the voters choose to reject any new taxes and tell the city government to reduce their expenses. Let me help identfy cost reductions:
reduce city employee pay
Increase city employee copay for retirement and benefits
Elimiate city employees
No one wants to borrow the money that is willing to pay it back.
Both of my children went to community college and paid their own way. Not that I did not offer to pay their way. Of course I took care of other expenses, but their success is their own.
Jerry Brown says the California Budget is balanced too.
I specifically enjoy the new gas tax with which I am sure they will fix the crappy roads.
Yes I am sure the democrats are genuinely concerned about the little guys.
Perhaps they got tired of paying for the $80,000 per year bus drivers and $300,000 county supervisors.
If you are really concerned about employment you should avoid buying a house. That is unless you have a job skill that is in high demand. Even that is no guarantee because there is always someone with a visa willing to work for less.
I think they went to the same place all of the jobs went.
Some things I would want to understand in addition to will I have sufficent cash flow after I buy:
- available reserves in the HOA
- The number of units actually current on HOA dues
-The planned maintence schedule for the units (what major repairs are coming due and for what have they reserved.
-any active lawsuits against the builder or HOA.
- will the HOA rules let you rent it.
- How many of the units are rentals
That said I hate HOA's so I would stay on or behind the fence.