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How many bears could actually afford a house in their market..
2013 Feb 22, 5:32pm 20,677 views 55 comments
by swebb follow (0)
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Eman
@
2013 Feb 25, 1:54am
What's the secret for getting deals below FMV? :)
Sleep with the realtor....
You got it all wrong. You don't sleep with them. You have them sleep with you. Then you offer a below market value because you're not happy with their performance. The ones you're happy with, you thank them, but you're not willing to engage in a competitive bidding. :)
Rin
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2013 Feb 25, 2:14am
I'm afraid the competiveness is being applied in non-law fields across business.
Well, here's the story ... post-graduation placement from law school means top 15 (Harvard to Univ of Virginia), management consulting & investment banking parachutes mean top 15 B-school (Harvard to Northwestern). Outsiders, attempting to break into MC/IB ... go through a less subscribed to, Masters in Applied Statistics (or similar sideshow, less exciting dept) from Penn or one of the quantitative distance programs at London Univ, piggybacking off the reputation of LSE. Usually, these outsiders tend to have the most intellectual merit, as they need to get A's/A+'s as special students, without the help of alumni pulling 'em up by a cohort effect.
Now, once that's covered, the next tier of careers are a bit different; here you have engineers from what seems to be ordinary places, Univ of Rochester, but then, after 4 years on the job, the trajectory for management is still the same, top tier B-school like Columbia, followed by recruitment from a GE or a United Technologies in a Jr VP "Fast Track" program.
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It has occurred to me (many times) that the super-negative bears are probably just not able to afford the house they want in the market they live in. So their anger is about not being able to afford a house, and their scapegoat / vent hatch is the "idiots who are overpaying"....
Thing is, if they were just rational actors, they would pick the optimal solution (often renting) and just live with it...instead they bitch and moan about the state of the market, and how an bunch of idiots bid it up for a stupid home that they don't really want/need/understand anyway...blah blah..
So, who the fuck cares if these people are so wrong for getting into an overpriced home...if you have so much emotion around the situation, it's probably because you want to be a homeowner, too...and you either can't afford to buy one, or you don't think the price is justified...the thing is, the strong feelings these people have is evidence that owning a home is worth more than just the rent replacement value to some people (including the big bears)...so, pony up or shut up...Again, if you didn't really care and were confident in your position, you'd just rent...but-you-really-want-that-house-so-bad-that-you-have-to make-up-reasons-why-the-market-is-broken...