patrick.net

People thanked Bernie Madoff as well, until the punch stopped coming. Glad to see so many people helping out the state and feds with their debt problem by overpaying for housing. That tax bill is gonna be tough every year. About 4 or more months rent for the same house. Good luck though.

RentingForHalfTheCost , Are you true to yourself ? I was a bear too check all my posts and comments before 2011 but I adjusted my position.

Oh forgot to give the due credit to Roberto, SF Ace , EMan.
Conclusions have been drawn , we all know it the end of bull bear argument.
But the point is what to do next ? Should we wait for December to buy another property ? Or where to buy next property ? I heard Charlotte , nc hasn't gone way up and you can still rent with a good cash flow.

robertoaribas says

check out Portugal too!

I was in Lisbon last year. Bacalao and Super Bocks!

Would love to live there, but honestly, the Portuguese are NOT a happy bunch right now.

RentingForHalfTheCost,
It's the right of everyone to buy overpriced houses.

HEY YOU says

RentingForHalfTheCost,

It's the right of everyone to buy overpriced houses.

Very true. Glad someone is helping out the retired 200k state secretaries. They need Mercedes cars as well. I'll keep my cash to actually invest in myself. :)

RentingForHalfTheCost says

HEY YOU says

RentingForHalfTheCost,

It's the right of everyone to buy overpriced houses.

Very true. Glad someone is helping out the retired 200k state secretaries. They need Mercedes cars as well. I'll keep my cash to actually invest in myself. :)

And when are you going to share some of those investment details that you said you were going to?

This was happening in July 2007 when I was last looking for a place. When I inquired as to why I'd not been chosen as a tenant, I was told someone offered more money.

Rentingforhalfthecost used to rent in Foster City. Got booted and had to move to Pleasanton. No problem, the kid(s) are still pre-school. If he gets booted again, I wonder if he'll look for a friendly land-lord in Concord?

rooemoore says

Rentingforhalfthecost used to rent in Foster City. Got booted and had to move to Pleasanton. No problem, the kid(s) are still pre-school. If he gets booted again, I wonder if he'll look for a friendly land-lord in Concord?

Actually, I signed a 2yr lease and knew the owner was moving back in to live when it ended. Not really what you call a boot. I have no problem though moving every 2 yrs, my wife and I actually like the change. Almost everytime I moved in the SFBA it was to a better place. I don't remember ever feeling like the move wasn't a step up. I just had a chance to rent from a friend of a friend for the same I pay now for a place that is definitely in the 2mil price range. It was tempting but we really don't need 3500sqft. The person will probably leave it empty if he doesn't find a respectable renter through friends. For many it is not about the money when the place is valued 5000 times the rent. One bad renter and you could lose way too much. Not my words, his.

I'm also perfectly find now in a place that is way above my purchasing desire, but well within my renting desire. Life is good and I plan to keep it that way. ;)

RentingForHalfTheCost says

For many it is not about the money when the place is valued 5000 times the rent.

I'd snap it up if he's renting at those rates. $400 a month seems a pretty good deal. Where do you find these bargains?

I'm assuming you're talking investment property.

See my above comment. If its not for investment then knock yourself out.

robertoaribas says

Spain is a hell of a lot more fun place to live than the bay area... maybe the man likes tapas and flamenco, give him a break!

From those pics, you can't see all the graffiti. House Hunters International has lots of great shots of young couples looking for houses all across Europe in graffiti infested neighborhoods. That also makes me sad. I haven't lived or traveled in Europe since college. A lot has changed in 20 years.

robertoaribas says

Bigsby says

Spain isn't that cheap and much of the Spanish Med isn't that attractive anymore.

Spain is a hell of a lot more fun place to live than the bay area... maybe the man likes tapas and flamenco, give him a break!

Were you trying to help me prove my point with that photo?

New Renter says

I did try to secure a loan in 2011 in the 50% LTV range. Everyone - nicely - told me to come back after my time in credit jail. Since then I lost my job and am having a hell of a time finding a new one. Even with my wife's income I don't think anyone will talk to us until October when our 2 years are up. I could be wrong though - a lot has changed since then

There is a very pathetic high number of unemployed in the South Bay - San Jose, and equally pathetic is the current hiring practice imposed by HR folks. The whole HR departments have gone insane with hiring policies im still having a problem with. Home prices are still way out of line with realistic incomes in the region.

thomaswong.1986 says

New Renter says

I did try to secure a loan in 2011 in the 50% LTV range. Everyone - nicely - told me to come back after my time in credit jail. Since then I lost my job and am having a hell of a time finding a new one. Even with my wife's income I don't think anyone will talk to us until October when our 2 years are up. I could be wrong though - a lot has changed since then

There is a very pathetic high number of unemployed in the South Bay - San Jose, and equally pathetic is the current hiring practice imposed by HR folks. The whole HR departments have gone insane with hiring policies im still having a problem with. Home prices are still way out of line with realistic incomes in the region.

Don't I know it!

Yet rents are high, vacency is low, home prices at 2007 prices or greater.

It depends on where you are in Spain, just like it depends on where you are in Florida.

The problem is a 30% drop in Real Estate prices isn't enough, because the price of housing units quadrupled from 1998 to 2008.

Foreclosures are asking for almost full mortgage amounts.