patrick.net

Buying a house, condo, or apartment is a SOCIALIST endeavor that relies on the civility, cooperation, and goodwill of neighbors to be financially viable.
For instance, I share air space, noise space, parking space for guests, a pool and spa, green belts with flowers, and a clubhouse with my neighbors. We also pool money in a SOCIALIST manner we call HOA dues which pays for all the upkeep.

curious2 says

Fortwhine/Forthood might be reducing the value of your neighbors' property - especially if you've continued pouring toxic waste illegally on your neighbors' boundary line.

Doesn't this guy live in Reseda? It's probably the most "reasonably priced" real estate in the valley. Being that it is chock full of Mexicans, It's hard to fathom how he can live there.

MMR says

Doesn't this guy live in Reseda?

Fortwhine/Forthood does live in Reseda, but every time he turns on the TV all he sees are "black actors and black celebrities." Waco has 10x more black people than Reseda, so I wondered if there might be a connection...

If you say that house prices will never go down, you also have to say that they will not remain stagnant. The system is not stable unless it is continuously increasing.

exfatguy says

U.S. Housing Prices are Never Going to Down, But Humor Me...

A sure sign of a bubble.

"There will be no interruption of our permanent prosperity."
- Myron E. Forbes, President, Pierce Arrow Motor Car Co., January 12, 1928

NuttBoxer says

A sure sign of a bubble.

"There will be no interruption of our permanent prosperity."

- Myron E. Forbes, President, Pierce Arrow Motor Car Co., January 12, 1928

says the fucktard who didn't buy in San Diego 3 years ago and bragged about it on here??

you think your opinion matters, after a monumental fuckup like that??

Sharingmyintelligencewiththedumbasses says

says the fucktard who didn't buy in San Diego 3 years ago and bragged about it on here??

you think your opinion matters, after a monumental fuckup like that??

What's your property valued in again if decide to sell? Ohh yeah, that paper that presently collapsing around the world. How's your portfolio looking this morning?

I keep hearing about world debt. Who's in debt? Everybody is paying all cash for everything. If they are borrowing to get that cash, then from whom? Why isn't that lender investing in housing if it offers better returns than loaning money?

NuttBoxer says

Sharingmyintelligencewiththedumbasses says

says the fucktard who didn't buy in San Diego 3 years ago and bragged about it on here??

you think your opinion matters, after a monumental fuckup like that??

What's your property valued in again if decide to sell? Ohh yeah, that paper that presently collapsing around the world. How's your portfolio looking this morning?

3.2 million, with 1.4 million in 4%ish debt, cash in come of $22000 a month, mortgages of $10,300 a month. I'm really worrying about things!

Sharingmyintelligencewiththedumbasses says

3.2 million, with 1.4 million in 4%ish debt,

You should refinance. Get a 15 year fixed.

Home prices are never going down

Ironman says

Gee, why does such a wealthy asshole like you need to teach 13th grade math in community college???... Hmmmm, maybe because you're LYING!!!!

I'm not that guy, but I spoke with him recently. He is doing even better than me investment wise, and is retiring in december with a pension of $70K a year... so yeah, working a few hours a day in a job he likes, with 3 months off in summer to get that pension.... how sad!

Sharingmyintelligencewiththedumbasses says

3.2 million, with 1.4 million in 4%ish debt, cash in come of $22000 a month, mortgages of $10,300 a month. I'm really worrying about things!

That wasn't my question. How much did you lose today? Don't answer that. Instead just calculate if current trend continues, and you remain in assets that are just paper, and have no real value, since even you land is rented until you pay in full, how long before you go belly up?

It won't happen this week, but it will happen. And all that time and hard work to put into building that pile of paper will have been completely wasted. Meanwhile I'll be buying land somewhere more tropical, somewhere away from governments who don't respect property rights. But hey, at least you have right now.

Those who already own their own house plus other properties will say it will never go down.

Those who are trying to buy are waiting for it to go down and think it must go down.

I believe it will go down, not much, for very brief period of time before it goes up again. Maybe 10-15% in SF Bay Area.

The difference is that it will be a buyers market and buyers will have little, little, little more to chose from and little less competition.

The fact is we all who didn't buy in 2011-2014 are regretting it. I'm one of them.

It was oportunity of a lifetime we probably won't see anymore.

NuttBoxer says

and you remain in assets that are just paper, and have no real value, since even you land is rented until you pay in full, how long before you go belly up?

You're even dumber than I though if you believe that real estate is a paper asset.

NuttBoxer says

That wasn't my question. How much did you lose today? Don't answer that. Instead just calculate if current trend continues, and you remain in assets that are just paper, and have no real value, since even you land is rented until you pay in full, how long before you go belly up?

Since when is real estate just a paper asset? And how the hell do you calculate real estate fluctuations on a daily basis?
If current trends continue, he will be worth millions more, because the trend is up.
Your post has got to be the worst post on Patnet so far.

tatupu70 says

You're even dumber than I though if you believe that real estate is a paper asset.

The way he talks, it's just toilet paper.

What do you mean real estate is over priced???

Ironworker says

I believe it will go down, not much, for very brief period of time before it goes up again. Maybe 10-15% in SF Bay Area.

The difference is that it will be a buyers market and buyers will have little, little, little more to chose from and little less competition.

Then here is an idea - move away from the SF area.

Ironworker says

The fact is we all who didn't buy in 2011-2014 are regretting it. I'm one of them.

It was oportunity of a lifetime we probably won't see anymore.

Agreed, we bought in 2011 (in Houston) and the house has more than doubled what we paid for it. By the same token, if we sell the stuff that is out there now is too expensive for us. Guess I'll wait till it triples in value.

DooDahMan says

mmmarvel says

Guess I'll wait till it triples in value.

Has it done so now ?

My shack is almost there if we are to believe Zillow. All in less than 10 years. It can't last - not with my fucking luck.

Corporations pay way less taxes than individuals. RE game is unfair and corrupt when corporation competing with individuals. Take for example 1978 prop 13, corporations keep original entities to continue tax basis when acquiring and pay almost zero property taxes.