1
0

Regret not buying in 1999?


 invite response                
2012 Jun 26, 7:10am   44,151 views  92 comments

by zesta   ➕follow (0)   💰tip   ignore  

I'm a little new to this site and didn't realize that Patrick was a minor celebrity. I read Patrick's profile on ABC News and the thing that caught my eye was: "In 1999, he tried to buy a house there but ended up outbid, angry and convinced the system is fixed and that real estate agents are dishonest" .. "He decided not to buy and thinks he ended up on top, even though the house has gone up nearly a half million dollars. Killelea said that even people whose homes increased in value by hundreds of thousands of dollars 'would have done better in the stock market.' "

http://abcnews.go.com/Nightline/story?id=3731415&page=1

You were spot on in 2007, but do you have any regrets about not buying in 1999?

I get it, rents were cheaper than PITI in 1999 so it was a tough choice to buy, but on the flip side if you would have taken out a 15 year mortgage you'd be a couple years short of paying it off. Or you could have refinanced a 30 year today, and I'm guessing you'd be paying substantially less in PITI than your current rent.

Just curious about your thoughts..

#housing

« First        Comments 89 - 92 of 92        Search these comments

89   SFace   2017 Oct 11, 7:29pm  

Throw the calculators out the trash can. It's called the ghetto calculator because the results are obvious.

Buy buy buy, - in the ghetto.

Avoid, no buy - in prime areas.

Which is the opposite of reality. Price appreciates the most in places people covet.
90   SFace   2017 Oct 11, 7:32pm  

I don't even need a calculator to know someone like Patrick made multi-million dollar mistake.

Based on his discipline. He would have the home and even more stocks. You know, when you have a fixed mortgage which depreciate over the year. Savings rate. go through the roof eventually. Patrick would have had a peanut size mortgage had he bought the Berkeley place and saving like a mxfx all the same.

You know what's it like to have no mortgage and own a home in the sfba prime. Rich ass mxfx.
91   Strategist   2017 Oct 11, 7:40pm  

SFace says
Price appreciates the most in places people covet.


And where they covet now, is where they will always covet. It's as simple as that.
92   SFace   2017 Oct 11, 7:51pm  

I said this since 2009.

Location location location will be location location location location location.

« First        Comments 89 - 92 of 92        Search these comments

Please register to comment:

api   best comments   contact   latest images   memes   one year ago   random   suggestions   gaiste