patrick.net

Save money on housing! Don't buy, don't rent! Sleep in your car! Bathe in the office bathroom sink!

Patrick you need to update your buy vs rent calculator to be a buy-vs rent-vs live in car-vs live in box under freeway calculator.

I bet most of you have a freeway underpass walkable distance to your job, thus do not even need the unnesscary expenses that come with a car. gas is $5 a gallon, registration,repairs who needs it man.

Make sure the calculator has input for 'distance in miles to nearest freeway underpass to your job'.

Another calculator idea: working vs panhandling which should you do?

A triple-digit dip in housing prices is in order especially in certain cities because again what they are asking in some cities is not real. Too many are flying from the theory of "throw out a price see what of it sticks."

This decline prediction comes as no surprise to me it is just common sense.

PockyClipsNow says

Patrick you need to update your buy vs rent calculator to be a buy-vs rent-vs live in car-vs live in box under freeway calculator.

I bet most of you have a freeway underpass walkable distance to your job, thus do not even need the unnesscary expenses that come with a car. gas is $5 a gallon, registration,repairs who needs it man.

Make sure the calculator has input for 'distance in miles to nearest freeway underpass to your job'.

Another calculator idea: working vs panhandling which should you do?

And if the supermarket is close to that underpass, perhaps, people can save money on meals by eating grapes as they walk through the store and then walking out without buying anything.

dublin hillz says

Save money on housing! Don't buy, don't rent! Sleep in your car! Bathe in the office bathroom sink!

Iv'e saved up enough to pay cash for "a van down by the river"!

robertoaribas says

Billybigrig says

Proving once again

A link to an article that says: many bloggers say the bottom is here, but a few still don't... that proves something in your world?

The article has more substance that most of the crap you spew on this site. It doesn't jive with what you hope will happen, so you obviously discount it as junk. Good for you. Keep your dream alive.

robertoaribas says

This article LITERALLY said "some bloggers thing its the bottom, but a few don't." that was it.

...some bloggers thing its?

And you have the nerve to call someone else very stupid?

dublin hillz says

Save money on housing! Don't buy, don't rent! Sleep in your car! Bathe in the office bathroom sink!

With a few tweaks to your formula, there's nothing really wrong with this approach.

JodyChunder says

dublin hillz says

Save money on housing! Don't buy, don't rent! Sleep in your car! Bathe in the office bathroom sink!

With a few tweaks to your formula, there's nothing really wrong with this approach.

LOL yes, this is HOW ridiculous the entire real estate situation is now.

Darrell In Phoenix says

Typical realt-liar Roberto..... can't refute the facts so he attacks the messenger.

You need to change your shtick roberto. It really is adolescent.

That is precisely what it is alright, a SHTICK.

Seriously, though...I sometimes think the nomadic lifestyle is the last bastion of freedom left. Takes a tremendous amount of fortitude. I wish I had it...

Material comfort is the only mitigating factor. Even if you had little ones, it's still not out of the question. Doc Paskowitz's story is a compelling one:

https://www.youtube.com/watch?v=rLrx_QSd44E

nope, not a triple dip, just bouncing along the bottom.

the bottom will not appear until 2015.2017

rufita11 says

dublin hillz says

Save money on housing! Don't buy, don't rent! Sleep in your car! Bathe in the office bathroom sink!

Iv'e saved up enough to pay cash for "a van down by the river"!

My fallback plan is to find some shelter on iron horse trail . . .

LOOK OUT BELOW!!! Fact is, real estate isn't going up until wages rise among other things, and that isn't happening anytime soon with the swelling ranks of unemployed, underemployed, or those that have given up altogether an thus no longer counted.

Keep hoping and praying, but property remains a poor investment for the remainder of this Greatest Depression.

jsteencken says

LOOK OUT BELOW!!! Fact is, real estate isn't going up until wages rise among other things, and that isn't happening anytime soon with the swelling ranks of unemployed, underemployed, or those that have given up altogether an thus no longer counted.

Keep hoping and praying, but property remains a poor investment for the remainder of this Greatest Depression.

You got that STRAIGHT brother!

robertoaribas says

Facts, since you seem confused

I'm not the one confused Einstein. Good luck to you. You might want to take the blinders off at some point, or they will be ripped off you by reality.

jsteencken says

LOOK OUT BELOW!!! Fact is, real estate isn't going up until wages rise among other things, and that isn't happening anytime soon with the swelling ranks of unemployed, underemployed, or those that have given up altogether an thus no longer counted.

Keep hoping and praying, but property remains a poor investment for the remainder of this Greatest Depression.

Exactly! I wonder if wages are going up for the 16000 people getting laid off by just Bank of America alone. 30000 in total by end of 2013! Look out below.

http://www.huffingtonpost.com/2012/09/20/bank-of-america-layoffs-16000_n_1899691.html

Totally illegal to live out of a small van with blackout shades on the street in a moderate climate along the coast, shower at a gym, poop in public restrooms, buy meals from the supermarket deli, and show up late to a quiet parking spot in a marina or motel parking lot and then leave early. And totally doable.

taxee says

Totally illegal to live out of a small van with blackout shades on the street in a moderate climate along the coast, shower at a gym, poop in public restrooms, buy meals from the supermarket deli, and show up late to a quiet parking spot in a marina or motel parking lot and then leave early. And totally doable.

BUT it some think it isn't illegal to go to a bank, lie through their eye teeth about all aspects of their reality, take out 750K in loans to buy all kinds of shite they don't need and then? When it all becomes reality, when they walk up out of their fucking stupor they want to walk away with no repercussions.

RentingForHalfTheCost says

jsteencken says

LOOK OUT BELOW!!! Fact is, real estate isn't going up until wages rise among other things, and that isn't happening anytime soon with the swelling ranks of unemployed, underemployed, or those that have given up altogether an thus no longer counted.

Keep hoping and praying, but property remains a poor investment for the remainder of this Greatest Depression.

Exactly! I wonder if wages are going up for the 16000 people getting laid off by just Bank of America alone. 30000 in total by end of 2013! Look out below.

http://www.huffingtonpost.com/2012/09/20/bank-of-america-layoffs-16000_n_1899691.html

What about that escapde in FL I heard on the news a week or so ago, anyone hear about the people at that company, "Digital Domain" the one that got a fuckload of money from the city to be there, and they opened too the money, claimed opportunity, hired people AND? BAILED. One poor couple on the news uprooted their family to go to FL for a job there, and the day he was to show up to work THE FUCKING DOORS WERE CLOSED!

Facts and demographics leads me to think more housing price declines are forthcoming. At least, no substantial rise in most markets.

1. US (real) median average wages have been frozen for 12 years (in fact have declined slightly)

2. According to official CPI numbers, prices of everyday items (inflation) has eaten away 33% of the purchasing power of those 12 years - leaving folks with FAR LESS disposable income for housing.

3. Under-25'ers have a higher rate of unemployment than the general population as a whole and are socked with $1 trillion in student loans that they can't expunge thru bankruptcy. Traditional starter home market is gutted from this alone.

4. The median size of US families has declined for decades and due to continued economic malaise, immigrants are not coming here to bolster the population totals. Mexico, since 2010, has had net emigration (back to Mexico), for instance.

5. In all, the population of the US is older - less inclined to trade up and 10,000 baby boomers per day are retiring. That doesn't bode well larger, trade-up homes.

6. The very real likelihood of higher either Fed or State taxes to cover the mountainous $16trillion Federal and composite $4trillion State deficits will eat further into disposable income

Yes, I realize the very low historical mortgage rates of today have allowed one to monthly maintain a house at comparable costs to a time when houses cost half of what they do today....but lack of funds make down payments harder. The GSE's have stepped in to eliminate any down payments (Fannie/Freddie) and 3.5% fof FHA....but there is a limit to what they can and should do.

Unless Helicopter Ben Bankruptke is going to be stuffing $50,000 cash in each of our mailboxes to get the average person out of debt and have down payments for homes.....I don't see how it can rise from here....even if 2% mortgage rates become the norm in the future.

btw, I bought after 10 years of renting 2 months ago as my circumstances were right for me to do so. But, for most, the anchor of one more debt payment (a house) is probably ill advised.

So, for so many reasons, I think we either see flatlined prices or lower on into the next 5 years.

jsmarket says

Facts and demographics leads me to think more housing price declines are forthcoming. At least, no substantial rise in most markets.

Yes, on all you have provided however my take on this involves a minor correction.

NO RISE IN ANY MARKET due to all you have outlined.

jsmarket says

So, for so many reasons, I think we either see flatlined prices or lower on into the next 5 years.

We've flat lined for sure , time to start putting the nails in that COFFIN so the responsible ,ethical & savvy cohorts can take the helm

Affordability is actually quite good many places due to incredibly low interest rates. The government has effectively nationalized real estate and is moving towards more control and more artificial market instead of less. Romney may or may not do anything differently. He hates poor people but he loves banks, and the current situation bEnefits both groups enormously. I guess I messed up by not buying in 2005. If I had, I would now be paying nothing to "own" a home, except maybe lawyer fees from all the injunctions and modification requests I'd be making. Three or four years of no rent would leave me with enough cash to buy outright in most of the country. As it is, I don't even have 20% in my market.
Point is: this shit will continue. Not because it's right or fair, but because it has to for the banks and the Feds and everyone else with true power to keep their power. Nothing will change. Expect interest rates to be at 3-4% for the next ten years. Maybe longer.

Quigley says

Romney may or may not do anything differently. He hates poor people

If you think this crew in there now "loves poor people" the only reason is because they make major $$$$ money off the welfare and social shite they brainwash them into believing they are providing them.

My Lord how fucking stupid people are.

Darrell In Phoenix says

Quigley says

Affordability is actually quite good many places

Oh stop with your lying bullshit. Prices are still at 2004 levels.

THANK YOU.

Reader says

taxee says

Totally illegal to live out of a small van with blackout shades on the street in a moderate climate along the coast, shower at a gym, poop in public restrooms, buy meals from the supermarket deli, and show up late to a quiet parking spot in a marina or motel parking lot and then leave early. And totally doable.

BUT it some think it isn't illegal to go to a bank, lie through their eye teeth about all aspects of their reality, take out 750K in loans to buy all kinds of shite they don't need and then? When it all becomes reality, when they walk up out of their fucking stupor they want to walk away with no repercussions.

Reader

You just described half of this country. It will never change. Free money feeds the lazy and criminal.

RentingForHalfTheCost says

You just described half of this country. It will never change. Free money feeds the lazy and criminal.

I hate to say it likely more than half!