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#3. cannibal anarchy.
you mean ... go medieval on the Realtors ass !
bubbles are a result of human irrationality which cannot be fixed.
where was this RE mania back in the 70s, 80s and 90s...people never behaved this way over real estate...
So roberto,
1.Are price to rent ratios the only thing to consider when considering real estate as an investment?
2. What is your opinion on condos?
So, the correct answer, to "is california housing in a bubble?" is who F*ing cares? buy if price/rent is even close to sensible, keep your eyes open, and get out with your profits before the next crash. It really won't be too hard to do!
My house is what I live in and I don't have any intention of "getting out with my profits". That's what my investments are for. I believe you might have missed my previous point. Housing bubbles- at least once they are established- ALWAYS end badly and in turn cause a lot of damage to the overall economy. So if that be the case, it effects everybody. Sure- there's nothing wrong with a healthy housing market. But a housing bubble is just as bad as a housing slump. And that goes for both renters and owners.
No matter what you say I am not moving to Phoenix.
LA isn't bad though, cost of buying is slightly higher in our area than renting, but it's a very small margin. Just avoid the "fortress" areas which operate outside any reasonable norm. I've plugged in numbers into Patricks calculator, renting is cheaper, but not by much.
Yeah, not that I know you, but Phoenix would probably work even less for me than you.
I have had and continue to have a wonderful life here in Los Angeles.
Roberto, how is it that property taxes are so cheap in phoenix?
Here in PA, at least in my locale, they tend to be 5x more. Next door in new jersey, they are often at least ten times more then what you seem to pay in phoenix,,,,
That in itself makes landlording seem much more profitable.
In my town, I can buy a 3/1+ row home 1200sq ft for 39.9k (in some sort of distress), they tend to rent for around 800. But property taxes can easily surpass 2400 annually on a place like that
LA isn't bad though, cost of buying is slightly higher in our area than renting, but it's a very small margin. Just avoid the "fortress" areas which operate outside any reasonable norm. I've plugged in numbers into Patricks calculator, renting is cheaper, but not by much.
Me too. The margin is around 35% in the areas of LA I would even consider living in. At that rate, renting and buying are basically the same depending on your assumption of future house price inflation verses rent increases. Since it's break even in my situation, I'm choosing freedom over RE slavery. I have other places to get ROI instead of using Los Angeles RE as a casino bet.
One thing I learned in life, is delivery is much more important than right verses wrong. I think most of that knowledge came from my very patient wife. ;) I can get to that engineer definite answer, but that skill does nothing in a human exchange if it is colored with emotion. If you goal is to persuade people, then being right is a very small part of your solution.
That is an seriously well informed perspective. I live in SFBA. I am friends with many married couples in which the male in the relationship is an engineer. I see many relationships that could benefit from having some appreciation of this.
roberto,
What do you think about articles like this?
http://www.commondreams.org/view/2013/03/14-6?source=Patrick.net
Would you file this under conspiracy theories?
What do you think about articles like this?
"in Phoenix, where readings commonly exceed 100°F for more than 100 days a year" - No wonder Roberto is such a miserable c*nt.
roberto,
What do you think about articles like this?
http://www.commondreams.org/view/2013/03/14-6?source=Patrick.net
Would you file this under conspiracy theories?
Its BS.
Climate change is fiction and so is that article. Peak oil is gonna happen so horribly slow no one will notice or care, probably.
I think that was the day I was passing through on the way to Florida. The weather report called for 115 F. It was 95 F at 6am.
If your gonna have solar panels... that would be the first place to go! A/C is gotta be cheap.
AND, if the dip writing this lives in LA, or SFBA, both areas due to be devastated by earthquakes at some point, and possibly affected by rising sea waters, and in LA, the same persistent water issues as Phoenix... well pot, meet kettle!
you mean lowering sea waters.. since they pretty much found whale bones near the mountains among other sea creatures and plants.
AND, if the dip writing this lives in LA, or SFBA, both areas due to be devastated by earthquakes at some point, and possibly affected by rising sea waters, and in LA, the same persistent water issues as Phoenix... well pot, meet kettle!
you mean lowering sea waters.. since they pretty much found whale bones near the mountains among other sea creatures and plants.
Eh? I take it that was a joke. At least I hope it was a joke. You wonder sometimes.
Eh? I take it that was a joke. At least I hope it was a joke. You wonder sometimes.
whale bones in the Santa Cruz mountains... vast inland seas near Bakersfield...
yep... all true ! Climate change 10 million years ago, humans not included.
Eh? I take it that was a joke. At least I hope it was a joke. You wonder sometimes.
whale bones in the Santa Cruz mountains... vast inland seas near Bakersfield...
yep... all true ! Climate change 10 million years ago, humans not included.
Good grief. I wasn't arguing that there weren't fossils there. I was pointing out that it has got FA to do with the current situation of the polar ice caps melting. You do get that, don't you? That because they found fossils where an inland sea once was 15m years ago isn't an indication that the oceans are currently receding. That was my point.
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