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Those 30 year shackles make the sweet sounds of freedom.
Second, it’s not that rent is “dropping”, but it’s stopped accelerating. Housing will come into balance at 5% mortgage rate….in line with what AD has been predicting
Hallelujah to Prop 13. Hallelujah to Howard Jarvis. 🚀🚀
There is free market, in theory. Manipulation of interest rates is an implicit government function.
AmericanKulak says
Once the inevitable demographic shift begins - the Boomers becoming infirm or dead due to old age and the need to downsize or have the kids that live several states away inherit - the rental stuff will stop working.
will have to see how this fares as maybe that is my housing starts still remain low compared to 2000 to 2007 ... new homes not going up in states like Illinois, New York and California as much as in Texas and Florida ... a lot of Florida housing like townhomes meant to only last 99 years
this applies to townhomes as well: http://hoa-condoblog.com/EGBlog020121.html
so home supply will be managed to match demand and demographic forecasts
.....
Hallelujah to Prop 13. Hallelujah to Howard Jarvis. 🚀🚀
Eman says
Hallelujah to Prop 13. Hallelujah to Howard Jarvis. 🚀🚀
These fat rich leaches are the worst than highway robbers who is living on bottom victims of the Ponzi scheme 1978 Prop 13 and still playing "victim" card!! These mega leaches call them selves "conservatives" paying for every $1 for generations vs the neighbor who bought recently and lives in a similar shack potentially pays more than $100 property tax based on the current purchase price.
https://www.taxfairnessproject.org/
Eman says
Hallelujah to Prop 13. Hallelujah to Howard Jarvis. 🚀🚀
These fat rich leaches are the worst than highway robbers who is living on bottom victims of the Ponzi scheme 1978 Prop 13 and still playing "victim" card!! These mega leaches call them selves "conservatives" paying for every $1 for generations vs the neighbor who bought recently and lives in a similar shack potentially pays more than $100 property tax based on the current purchase price.
https://www.taxfairnessproject.org/
Eman says
Hallelujah to Prop 13. Hallelujah to Howard Jarvis. 🚀🚀
These fat rich leaches are the worst than highway robbers who is living on bottom victims of the Ponzi scheme 1978 Prop 13 and still playing "victim" card!! These mega leaches call them selves "conservatives" paying for every $1 for generations vs the neighbor who bought recently and lives in a similar shack potentially pays more than $100 property tax based on the current purchase price.
https://www.taxfairnessproject.org/
I asked you this question before, and it went unanswered. Are you open to reset all tax basis to 1978 levels and eliminate Prop 13? If yes, do something about it and let’s go. If not, stop giving more money to the politicians. California does not have a revenue issue. It has spending issue. If spending is not rectified, it’s a bottomless pit. No amount of money will be enough.
you’re running your mouth for higher taxes without offering alternative solutions.
Eman says
you’re running your mouth for higher taxes without offering alternative solutions.
Show me one place where did I ask for "higher taxes"!
Oh! I see you pay almost nothing for properties purchased years back under 1978 Prop 13 tax based on purchase price and worries that get-rid of Prop 13 put you in line with every peasant/victim who buy at bottom of Ponzy pyramid scheme of taxes based on today's market price! which you call "higher taxes" ;)
Look at message 4188 to understand your rich commie flawed logic.
I will give you one last chance to respond. If you think Prop 13 is the holy grail, reset all taxes including the state sales tax, income tax, local tax, utility taxes and whatever else taxes back to 1978 level and get rid of Prop 13. Let’s go. That’s a fair proposal IMO.
Boomers are not moving out of their big homes. Here’s why
.
https://www.cnn.com/2024/01/29/economy/why-boomers-are-not-moving-out-of-their-big-homes/index.html
Boomers are not moving out of their big homes. Here’s why
.
They will when they can't use the 2nd floor due to knee problems, or when one of them has to go to a sub-acute.
This author believes the housing market is returning to normal. Apparently, a reader disagreed.
This cycle has been interesting. I thought the housing market peaked in 2018 so who am I to say if it’s normal or not. I just know I’m not a house buyer in this market. Will continue to stay as an investor and only buy deals where the numbers pencil out.
This author believes the housing market is returning to normal. Apparently, a reader disagreed.
I don’t know if it’s a good or bad idea to cut rates ASAP. Time will tell.
https://x.com/unusual_whales/status/1752397638836850847?s=46&t=5lEEPaezr6Ic-W4Z6huZ5Q
Eman says
This author believes the housing market is returning to normal. Apparently, a reader disagreed.
This cycle has been interesting. I thought the housing market peaked in 2018 so who am I to say if it’s normal or not. I just know I’m not a house buyer in this market. Will continue to stay as an investor and only buy deals where the numbers pencil out.
Really? Why no dates on the chart?
Perhaps despair is this year much to the dismay and disapproval of the Democrats (unless it drops off right after the election).
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https://finance.yahoo.com/news/pimco-kiesel-called-housing-top-160339396.html?source=patrick.net
Bond manager Mark Kiesel sold his California home in 2006, when he presciently predicted the housing bubble would pop. He bought again in 2012, after U.S. prices fell more than 30% and found a floor.
Now, after a record surge in prices, Kiesel says the time to sell is once again at hand.