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Dozens camp overnight for chance to buy $1.2 million Bay Area townhousesI think you are correct — your zillow link matches the sfgate story. I visited that complex a few months ago just for fun.
Is this what they were buying?
2 bed/ 3 bath, 1268 sq.ft.
Yikes, anyone want to do the Price to Rent ratio?
you still have to buy FOOD, and pay UTILITIES with salaries that are falling further behind by the second. Oh yeah, and PROPERTY TAX.
hat they were buying?
2 bed/ 3 bath, 1268 sq.ft.
Yikes, anyone want to do the Price to Rent ratio?
Bitcoin saysMy house in Socal appreciated by 100k within the last 6 month. Fuckin lol.
Apr 4, 2020 Sold for 1.66M
Apr 20,2021 Sold for 2.3M
640k appreciation in one year. Best business idea ever.
US is fucked up.
Tenpoundbass saysI wonder how these folks will handle getting foreclosed?
https://www.thegatewaypundit.com/2021/04/massive-brawl-breaks-mississippi-seafood-restaurant-chairs-glasses-fists-go-flying-video/
farmer2021 saysBitcoin saysMy house in Socal appreciated by 100k within the last 6 month. Fuckin lol.
Apr 4, 2020 Sold for 1.66M
Apr 20,2021 Sold for 2.3M
640k appreciation in one year. Best business idea ever.
US is fucked up.
@farmer2021
640k profit in the 1-2M range is nuts. Where is this? Was that your house?
It is becoming like Asian cities where only rich can afford houses.
farmer2021 saysIt is becoming like Asian cities where only rich can afford houses.
yes...and europe....
This may change, but I don't see the inflation in my grocery basket.
I wonder how these folks will handle getting foreclosed?
Wondering if this is the top? And all the panic covid buying has dried up, especially with the prices going to high.God I hope so
Aug 17, 2009 Sold (MLS) (Sold) $1,275,000
Listed : $2,499,000
Sold : $2,800,000
farmer2021 saysAug 17, 2009 Sold (MLS) (Sold) $1,275,000
Listed : $2,499,000
Sold : $2,800,000
Do the math, homie. CAGR = (ln(2.8/1.275))/12 = 6.5%.
How much did the stock market go up in those 12 years? With no property tax, no insurance cost, no repair bills, no interest payments, no peer pressure to have nice looking expensive cars in driveway, no peer pressure on kids for every extra club membership, etc.
275k(Investment) -> 1425k(Gain-100K selling cost) -> 11 years.
~16% return every year.
(It will reach higher when you add $500k return has no tax for high income family)
I think SF is opportunity to buy. This built up city is just waiting for conservative mayor to show up as the things are going to get worse.That's exactly what people were saying of Detroit (and many many many other hell-hole cities) about 50 years ago. We're all still waiting!
farmer2021 saysI think SF is opportunity to buy. This built up city is just waiting for conservative mayor to show up as the things are going to get worse.That's exactly what people were saying of Detroit (and many many many other hell-hole cities) about 50 years ago. We're all still waiting!
Well, at least SF could be a lovely place to live. Great weather, clean ocean breeze, and lots of fantastic attractions within car distance.
Here is the calculation:
When SF declares itself a not "sanctuary city" and starts handing over hardened criminals to the federal government, I'll concede that the place at least has the possibility of improvement. I can't understand how a city doesn't jump at the opportunity to have the federal government (on the federal dime) remove convicted criminals.
farmer2021 says275k(Investment) -> 1425k(Gain-100K selling cost) -> 11 years.
~16% return every year.
(It will reach higher when you add $500k return has no tax for high income family)
farmer,
the return is a negative cash flow every year, till they sell and realize the gain.
Do you live in the region? Just asking.
farmer2021 saysHere is the calculation:
This is quite convenient:
https://www.nytimes.com/interactive/2014/upshot/buy-rent-calculator.html
Pretty much ends the debate for me. Just plug in the numbers. Of course you have to put a value on not having to move when the lease is up too.
SunnyvaleCA saysWhen SF declares itself a not "sanctuary city" and starts handing over hardened criminals to the federal government, I'll concede that the place at least has the possibility of improvement. I can't understand how a city doesn't jump at the opportunity to have the federal government (on the federal dime) remove convicted criminals.
I agree.
For me personally, I'll consider San Francisco after they put Columbus back in his rightful place on Telegraph Hill.
Patrick saysfarmer2021 saysHere is the calculation:
This is quite convenient:
https://www.nytimes.com/interactive/2014/upshot/buy-rent-calculator.html
Pretty much ends the debate for me. Just plug in the numbers. Of course you have to put a value on not having to move when the lease is up too.
Try 16%(only allowed 15% growth housing prices) .. You will see How renting goes out of water.
Buying is better, even if you could rent for free.
Rent needs to be -$12,044 per month.
This is the evil with housing today.
Not true. You can refinance or take money out as long as your income can support the mortgage.
farmer2021 saysPatrick saysfarmer2021 saysHere is the calculation:
This is quite convenient:
https://www.nytimes.com/interactive/2014/upshot/buy-rent-calculator.html
Pretty much ends the debate for me. Just plug in the numbers. Of course you have to put a value on not having to move when the lease is up too.
Try 16%(only allowed 15% growth housing prices) .. You will see How renting goes out of water.
Buying is better, even if you could rent for free.
Rent needs to be -$12,044 per month.
This is the evil with housing today.
There are plenty of repairs for a house....
farmer2021 saysNot true. You can refinance or take money out as long as your income can support the mortgage.
That is hilarious. Calling taking money out, increasing the amount of debt, as positive cash flow. This is like the fed using printed money for the US government to dole out. The government can coerce folks to pay taxes, or the fed can tap Greater Fools in the bond market to keep the gig going for awhile. But homeowners, be they techie homeowners or landlords, have no such powers of persuasion or coercion over their salaries, or the rent they collect. (My understanding is renters have some protections now so they don't even have to pay). Renters can just leave, like Patrick and millions of others in California are contemplating.
I understand your point about Asia. We are in the United States, homie, not Hong Kong, not Bangalore. The United States does not end at Altamont...
Try visiting a open house these days in bay area.
They will ask for all kinds of pre-approval and house will sell before you get scheduled.
I don't know who are these people buying, But It is reality and been like this for last few years accelerated by COVID.
https://www.sfgate.com/realestate/article/2021-04-Santa-Clara-camping-overnight-townhome-16127719.php
Dozens camp overnight for chance to buy $1.2 million Bay Area townhouses
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Thinking of selling now and moving honestly...