patrick.net

Agreed. R's are fiscally irresponsible in regards to the military, war and empire building.

D's are fiscally irresponsible in regards to social "do-gooder" spending, feel good spending, bridges to no where, free lunches, the food stamp army, Obama phones, section 8, and lavishing upon the entitlement class EVERYTHING ELSE.

Even worse, the costs of government with respect to the citizens growth to individual competence are unacceptably high by reason of governments constant seduction of the people into childlike dependency.

Dependency = guaranteed votes at election time...gee, what a surprise!!

David Losh says

Bigsby says

So in the US they don't inform you of a lawsuit against you?

Evidently not, but that doesn't answer the question of why I should know, or care.

It's all the same thing. They ask for money, they get paid.

However the reason I don't care any more is that even if these blood suckers get paid you, the individual, have to ensure that you get a release.

So as far as I know those lawsuits are filings of satisfaction.

If they don't inform you and you know nothing about them, how come you are paying them?

coriacci1 says

no one would sell if they bought back in ’91. california’s prop 13 makes not selling THE NO BRAINER!

this guy is actually intelligent unlike roberto

Bigsby says

If they don't inform you and you know nothing about them, how come you are paying them?

All of the creditors? have the same offer. amount owed, no interest, no fees.

egads101 says

sure thing.... you get served for a lawsuit....

Really Bob?

It's always interesting to me how threads become about me rather than the bad decisions people make when they purchase properties.

I think it's because you guys have nothing to contribute, nothing to say, no real insight into the housing market.

To answer your question Bob, people listen to me because I make money.

Evidently something is working because the traffic to my websites keeps growing.

You just don't want people to have information.

If you didn't see 2008 as an opportunity to clear debt, then you missed an opportunity.

kashif313 says

Think about what is happening in reality - cheap money means those with first access are purchasing homes and putting them on the market to rent - homes for sale supply is drying up. If more homes are coming on the market for rent than demand - what happens to rents? They remain static or go lower.

Demand for rentals would increase since those out-bidded need to rent. A household would need to buy or rent. So those out-bidded would need to rent.

sbh says

Republican administrations...complain more loudly about it being solely a Democratic failing, and then refuse to pay their bills just as any deadbeat would, and then claim that the Democrats represent all the deadbeats.

This is quotable...deadbeats complaining about giving help to other deadbeats.

Wait this describes all Republican voters who have ever benefited from a welfare program or a government job. Eh, that's pretty much everyone, directly or indirectly...

I'm still curious. How is it intelligent to hold on to a property if someone believes that it is overpriced and prices will crater? If a house would go from $1m to $500k (or $250k according to Mr. Wong) then that $750k loss avoidance swamps any prop 13 benefit. Anyhow, if someone rebuys after the cratering, they will lock in a new low prop 13 assessment.

And, if "no one would sell" due to prop 13, how will prices crater if there is such a limited supply?

Of course if prices won't crater, then hanging onto the property makes sense.

hanera says

Demand for rentals would increase since those out-bidded need to rent. A household would need to buy or rent. So those out-bidded would need to rent.

So is this happening in reality? Your cotention is that household would need to either buy or rent, there is no other option? How about moving back into the parents home or vis a versa (parents living with kids). How about sharing a home, etc. This is actually happening in larger numbers than in the past. Student debt limits purchasing power (esp. for homes) along with unemployment/underemployment, etc.

Also if what you say is true, why are institutional buyers exiting the purchase to rent model? Answer; the returns are not there, meaning people are not paying asking price for rents and choosing a 3rd option listed above. What is actually happening in my area and the surrounding areas (So Cal) is that rents are generally not increasing. I've been at my location for 4 years and have a 0% increase year over year. BTW, Im not the only renter in this situation.

Kashif313,

Once you bring in other variables, anything is possible. I was following your implied conditions of your statement.

hanera says

Kashif313,

Once you bring in other variables, anything is possible. I was following your implied conditions of your statement.

Ok, fair enough.

http://www.washingtonpost.com/business/economy/adding-to-the-deficit-bush-vs-obama/2012/01/31/gIQAQ0kFgQ_graphic.html

Regardless of the spin, our country cannot regain prosperity by overspending, borrowing even more, and then discouraging thrift.

Even a 5th grader knows better.

egads101 says

which is an utter lie

Now, Bob, we all know you are liar.

You got caught, spanked, and ran off.

What's the deal with this other persona? You sound even more nutty.

kashif313 says

Also if what you say is true, why are institutional buyers existing the purchase to rent model? Answer, because the returns are not there, meaning people are not paying asking price for rents and choosing a 3rd option listed above

You could be right but the reason I think is what is known long ago. Residential rentals are too complex for institutions to manage profitably, and has been the domain of mom and pop till this financial crisis. It means that even with the low purchase prices, the business model till can't work because return is till not good enough to compensate for the high overhead of an institution.

Some "bull" just please tell me how median house prices and median incomes in the SF Bay Area make sense? How do they live in the same world? I don't get it. Here are some possibilities:
People who buy houses are saving for retirement at all.
People who buy houses plan to try and keep their current income or a higher income well past age 65.
People who buy houses eat poorly.
All people who buy houses are from families with substantial net worth.

FunTime says

People who buy houses are saving for retirement at all.

"AREN'T" saving for retirement.

egads101 says

You really believe home prices haven't gone up over the past 2 years?

No Bob, they haven't. If you were in the business of Real estate you would know what was going on.

That's why you don't sound real to me, you bring nothing to the table to prove anything.

Wyoming isn't the same market as California, the same as Chico California isn't the same as Phoenix Arizona.

Atlanta Georgia can increase in pricing because it dropped as far as it did.

You just haven't figured out that we are all in deep poop unless our economy changes from phantom property equity to generating real dollars in terms of goods, and services.

Real Estate is the easy fix, it just takes a little hype. That's why both George Bush, and Obama promoted the idea that housing would lead our economic recovery.

Bill Clinton on the other hand promised a personal computer in very home, and that was what we fondly refer to as the last strong economy.

You've got nothing here Bob, you should move along.

egads101 says

you really are the patrick.net village idiot!

As fun as this is Bob, you've demonstrated again that you have nothing but a redfin sales blurb as your basis of analysis.

We're in deep doo doo economically Bob, and you should move along, and let people get some information from this blog site.

egads101 says

WTF?

Another brilliant analysis from big time Real Estate Investor Bob.

House Investors never lose! Good luck with that belief.

sbh says

Well, I guess there are some black people who are Republicans?

Herman Cain...

finehoe says

http://www.washingtonpost.com/business/economy/adding-to-the-deficit-bush-vs-obama/2012/01/31/gIQAQ0kFgQ_graphic.html

If Obama would have rescinded those "temporary" Bush tax cuts, he would've been in the black according to these charts!

Roberto, Somewhere in the "investors lose" white space you need to put a dot for cannibal anarchy.

The Professor says

Houses are supposed to be for people to make homes, not for investors to make fortunes.

Except in the dark ages when the poor plowed the land and were given a roof to live under. Who says we can't revert to this? It wasn't that long ago...

EBGuy says

Roberto, Somewhere in the "investors lose" white space you need to put a dot for cannibal anarchy.

and "AF wins!"

Oh looky! The Illiterate Professor speaks!
* start a sentence with a CAP....
* "were", not "where" you dumb shit....

egads101 says

did you suffer a terrible head injury or something, or where you always this way?

Honest Abe says

Regardless of the spin, our country cannot regain prosperity by overspending, borrowing even more, and then discouraging thrift.

Even a 5th grader knows better.

Agree.

But that's easier said than done, right? Everybody wants their piece of the government pie. And it's not just the stereotypical "welfare" people, it's the "defense" industry and the TBTF corporations (esp. banks).

Again:

* Start a sentence with a CAP

* "higher order thoughts" begin with a minimum of 3rd grade grammar...maybe one of your renters can tutor you on the side...

* "Douchebag", not "douche bag" you Douchebag....

egads101 says

SoftShell says

Oh looky! The Illiterate Professor speaks!

* start a sentence with a CAP....

* "were", not "where" you dumb shit....

oh look the grammer nazi douche bag shows up! If you can't form a higher order thought, you can always nitpick grammer, right?

egads101 says

he is mentally challenged...

Now Bob, we all see you had a melt down, you created this other weird persona, but still have nothing to say.

It's kind of like an alcoholic who thinks if he moves everything will change for the better.

egads101 says

If you can't form a higher order thought, you can always nitpick grammer, right?

or personally attack people on the internet.

egads101 says

do you need a fifth grader to help you read the venn diagram?

I take it you're referring to the area outside the circles labeled "investors lose." Yes, please help me with your unusual Venn diagram.

It is the height of entertainment watching Roberta attack the intellectualism of other posters while simultaneously displaying the English prowess of a Rosetta Stone dropout...

David Losh says

egads101 says

If you can't form a higher order thought, you can always nitpick grammer, right?

or personally attack people on the internet.

There is no such thing as a free lunch.

Honest Abe says

Regardless of the spin, our country cannot regain prosperity by overspending, borrowing even more, and then discouraging thrift.

Even a 5th grader knows better.

Because sadly a 5th grader understands that borrowing permanently cannot sustain itself, that a future generation will bear all the costs.

I think that's part of the failure of personal responsibility. People stopped being responsible, so pushing huge burdens onto future generations to them seems like a fine thing... as long as it's not them paying today. It's a shame.

hanera says

It means that even with the low purchase prices, the business model till can't work because return is till not good enough to compensate for the high overhead of an institution.

when wall st is chasing 3-4% returns you know the model is clearly fucked

i can point out many lies you have said roberto

you said your rentals were providing you with enough profit to not have to go to work,and that one day you would turn over all management of your rentals to a company and live off the profits

we both know you are a liar because for one, you live with room mates and two, you have a day job to support your debt load you liar

speaking of your job, you claimed to be a well respected college professor

in reality your students loathe you at scottsdale community college and you have a low rating of 2 out of 10 on that ratings website, another lie exposed

egads101 says

"housing is done

It's done Bob, and you have brought nothing to the table except redfin, and Zillow hype.

Your delusions of an economic recovery have been discussed Bob, and proved wrong.

You have no idea what you are talking about. You live in a box Bob without windows.

egads101 says

I'm not sure why you keep bringing that guy up, but he actually posted all the address of the properties, and it all checked out.

Come on Bob, give it a rest, and move on.

Now we're back to the 15 house 6 mortgages, and $6K in passive income.

This was your melt down moment Bob. It makes no difference to anyone, nobody cares.

Crazy - well done!

egads101 says

hey, kind of like an obnoxious retarded asshole, who has been

Bob, how many threads are you going to clog up?

Is that the point?