patrick.net

Greg1867 says

One day I thought "What if I could take my Cali salary out of Cali?" Hmm... I was being groomed for management and my team was being built on the other side of the world (Pune, India). I approached my boss with this and he talked to his boss and the verdict was "Live where you want, your team is remote anyway".

Truthfully I don't understand why this situation isn't more common these days. I'd say that 95% of the interaction I have with people at my job are with people who don't even live here. I'm on the phone half the day with people from all over the country. If I were offered the chance to "Live where I want", you'd better believe I'd be packing tomorrow. Hell- I'd even take a significant pay cut.

^ you can now buy a house on an acre+ in CO for the cost of an apartment in CA again:

http://www.redfin.com/CO/Larkspur/1976-Kinnikinnik-Dr-80118/home/35255416

Monthly outgo: $1860
Outgo less principal repayment: $1400
Average cost of ownership over 30 years: $1100

The median in this area went from $360k in 2002 to $490k in 2006, now it's back down to $370k.

I think that's a good level to buy at.

Bellingham Bob says

median in this area went from $360k in 2002 to $490k in 2006, now it's back down to $370k.
I think that's a good level to buy at.

How is this a like argument? I can buy a house in Detroit for less than the change I hand a hobo.

So f----- what?

dodgerfanjohn says

How is this a like argument? I can buy a house in Detroit for less than the change I hand a hobo.
So f----- what?

How is that a like sentence? It's a pretty simple argument really--prices are back to non-bubble levels.

What does the price of a house in Detroit have to do with anything?

dodgerfanjohn says

So f----- what?

Waiting for the bottom is a questionable exercise.

The example I gave was a house that sold in 1997 for $335k sold this summer for $425k.

In 1997, rates were 7.5% - 8%, and the conforming limit was $214,000.

Compared to 1997, the 2011 price of this house was a bargain.

The original point was that one can buy some good land now for what it costs to rent in CA.

It's a point well worth taking seriously.

I don't see a bottom forming yet, but I do think if certain things happen in the next year or two we could very well see jaw-dropping inflation across the board later this decade.

Maybe I'm beeing trolled?

Even at the height of bubble mania it was cheaper to mortgage in some parts of the country than pay rent in a CA apartment so in dont get the argument

tatupu70 says

dodgerfanjohn says

How is this a like argument? I can buy a house in Detroit for less than the change I hand a hobo.
So f----- what?

How is that a like sentence? It's a pretty simple argument really--prices are back to non-bubble levels.

What does the price of a house in Detroit have to do with anything?

The comparison as stated was buying a house in Colorado to renting an apartment in CA. Why not Detroit, Killeen TX, or BFE, KS as well?

Prices in metro urban CA, other than very few exceptions(Covina for instance) are still very much in a bubble.

dodgerfanjohn says

Even at the height of bubble mania it was cheaper to mortgage in some parts of the country than pay rent in a CA apartment so in dont get the argument

That may be so, the Front Range area had something of a bubble, 2005-2006.

It came late and wasn't as pronounced, but my friend bought into it (in 2006) right at the top and his place has lost $200,000 or so in the 5 years. Shoulda rented, but he was taking $400,000 of bubble-era equity with him from CA to CO so it's not so bad for him.

The property I listed above with a $1100/mo cost of ownership is 2.3 acres in one of the better areas to live in the Denver/CS area. It is not some random shithole. Not everyone can work remotely, but if you can, getting out of California is a very good idea, quality of life-wise.

Hence my "location". I think I'd be pretty happy up in Bellingham. $425,000 can buy some very nice places up there, too.

http://www.redfin.com/WA/Bellingham/1387-Nigel-Rd-98226/home/15810444

dodgerfanjohn says

Maybe I'm beeing trolled?

If anyone is trolling, it's you. Bob's post wasn't in response to you at all. It was simply an observation mostly agreeing with the post directly before it. That's why he had the carat (arrow pointing up)

bubblesitter says

toothfairy says

shouldve bought in 2005

You meant before 2000? correct? Care to honestly disclose when you bought?

sure but first tell me why you want to know?

toothfairy says

bubblesitter says

toothfairy says

shouldve bought in 2005

You meant before 2000? correct? Care to honestly disclose when you bought?

sure but first tell me why you want to know?

So I can find out how under water your big ticket item is. :)

Bellingham Bob says

Hence my "location". I think I'd be pretty happy up in Bellingham. $425,000 can buy some very nice places up there, too.
http://www.redfin.com/WA/Bellingham/1387-Nigel-Rd-98226/home/15810444

Bob, Is this correct ? Sold for $515K in 1995? considering many home prices today are much less... someone really porked themself badly.

Property History for 1387 Nigel Rd
Date Event Price Appreciation Source
Sep 09, 2011 Price Changed $429,000 -- NWMLS #260253
Aug 08, 2011 Listed (Active) $439,000 -- NWMLS #260253
Jul 25, 1995 Sold (Public Records) $515,000 -- Public Records

bubblesitter says

toothfairy says

bubblesitter says

toothfairy says

shouldve bought in 2005

You meant before 2000? correct? Care to honestly disclose when you bought?

sure but first tell me why you want to know?

So I can find out how under water your big ticket item is. :)

you cant tell that from knowing when I bought. You also need to know the location and how much I put down.

Funny because my boss asked me the other day if I was looking to buy. I've only been at the new job for 5 months and no rush to buy now.