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Christ all mighty! ... you and the NAR are made for each other...
Your the poster child of the of the RE industry in California!
freak80
2012 Jul 7, 7:57am
I tend to not trust NAR. But I do generally trust Case-Shiller since he's not trying to sell me anything.
Randy H
2012 Jul 8, 2:55am
@EBGUY
Are you still hunkered down in a rental, or did you buy?
We bought in 2008 from a distressed investor. Got a good deal and, now that we're actually getting ready to sell again and move out of Marin, I'm happy that the worst likely outcome is that we have to sell for what we paid plus transaction costs.
Right now, depending upon your housing needs (school district, sq ft, # BRs, etc) you are significantly better off buying and servicing a mortgage than renting even when controlling for all other factors. Rents have inflated so much that it's a better proposition to buy even if you pay down zero equity simply due to tax distortions. Yes...even the bubblizer shows this. We live in interesting times...
It is really irrelevant what prices are doing, what is relevant that any increase in house prices, even a stall for that matter, cannot be supported by the average income as wage increases are mostly not happening and if they are they are so abysmal that after inflation most of them are still looking at a real income decline. So in the long run prices will crater (or the currency will be worthless), math just is (and can hardly be argued with) and on a long enough time-line you cannot spend more than you take in.
bmwman91
2012 Jul 8, 3:37pm
everyone has an agenda. Case-Shiller does not try to sell you real estate, that's what you probably meant.
What is their agenda? Follow the money.
I'm assuming that you followed the money. Where does it go in the case of C-S? I'm actually interested to know. Maybe the guy does it for the same reason many academics do, to get grants and funding, as well as some notoriety?
freak80
2012 Jul 8, 3:39pm
What is their agenda? Follow the money.
We'll I'm not about to make any major financial decisions based on C-S.
Are you suggesting that Yale somehow benefits if I buy (or don't buy) a house?
Considering that if you really want the entertainment of S.F., you can always BART in in 1 hr tops and then go back to the suburb and not deal with all the noise, dirt, panhandlers, parking inconveniences and myriad of other issues.
It's not about entertainment for me. It's about connection. I find that when I live away from noise and dirt, I start to think I deserve things like fresh water and a driveway. That's a very disconnecting way to think in that very many people in the world would not connect with that way of thinking. My thoughts are more calm and happy when I have that connection.
Randy H said:Got a good deal and, now that we're actually getting ready to sell again and move out of Marin
Are you migrating out of state... or into the City?
Patrick
2012 Jul 10, 11:18am
What is Patrick's agenda? :0)
Mostly I just hate the current system that throws generations of new buyers to the wolves over and over again. I myself was in that situation and it bent my brain to the point where I had to do something about it.
Beyond that, I'd like to make money somehow. I just refuse to make money by cooperating with the evil current system of "everyone against the buyer". The buyers need someone on their side, and I think they'll pay something if they see the value.
Randy H
2012 Jul 10, 12:42pm
Are you migrating out of state... or into the City?
We're moving back into the Valley grinder. Los Altos to be specific. My better half took a role as a CFO for a valley company and I'm able to work out of our 1 Market location in SF, so we split the commute.
If I were to live in the city, the only way I would do it would be to get a rent controlled apartment in sunset district, that's about it
I used to have a rent-controlled apartment in the Sunset district. I traded that for a rent-controlled apartment in North Beach. It's noisy. I now pay for parking. Drunks are breaking bottles in the street on Friday and Saturday nights. But, somehow, I'm much happier. I think of noise as texture and rather enjoy city sounds.
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You wouldn't know it from reading stories planted by the California Association of Realtors and Dataquick (which gets all its income from realtors), but San Francisco prices have actually been falling lately:
#housing