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Right now the 10 yr treasury is at about 4.25%.
Mr. I've Been On PatNet Since '06 during all this?
God fucking damnit. I am not cherry picking shit. Patrick did in clipping and pasting that part about San Fran from that article. And so my comments was IN FUCKING CINTEXT with that....as logic ditctates.
You won’t believe what the seller has in mind. Offer $650k cash and he “might” accept it. Otherwise, he’ll tear it down. Who’s the shark here?
Eman says
You won’t believe what the seller has in mind. Offer $650k cash and he “might” accept it. Otherwise, he’ll tear it down. Who’s the shark here?
This is the derangement of Prop 13. The guy pays less than $300 a month in taxes on a property valued at $38k. He can probably hold out forever; meanwhile, the city is deprived of much needed housing...
2006 was a once in a life time thing.
What happens to the property tax in CA if the structure is torn down and the land sits vacant? Does the tax go down because there is no improvements anymore or does it go up because the demolition would trigger a reassesment and the land alone is way more than what it was 40-50 years ago?
You mean the kids that live 3 states away?
https://www.newsweek.com/housing-market-drop-new-homeowners-loss-equity-freefall-1850573
New Homeowners Lose $122,000 as Housing Prices Drop
New homeowners across the U.S. are confronting a rapid depreciation in their home values.
If you are long SFH or are considering downsizing, do it right now before it's too late.
https://www.forbes.com/advisor/mortgages/rent-or-buy-home-mortgage/
My 78 year old mother in law is selling and purchasing another SFH. We're trying to convince her to purchase a condo but, nope.
GNL says
My 78 year old mother in law is selling and purchasing another SFH. We're trying to convince her to purchase a condo but, nope.
Why? If you are worried about upkeep, lawn service is cheap.
GNL says
My 78 year old mother in law is selling and purchasing another SFH. We're trying to convince her to purchase a condo but, nope.
Why? If you are worried about upkeep, lawn service is cheap.
HeadSet says
GNL says
My 78 year old mother in law is selling and purchasing another SFH. We're trying to convince her to purchase a condo but, nope.
Why? If you are worried about upkeep, lawn service is cheap.
Snow. She's moving to PA. Most of her family is in NY. Condo seems safer?
Best to live together in a multi generational house. Save money and be able to look out for each other.
The Asians are very adept at this.
.
Best to live together in a multi generational house. Save money and be able to look out for each other.
The Asians are very adept at this.
.
Asians can do it all they want, but realistically, if they're being honest, they're not happy.
WookieMan says
Asians can do it all they want, but realistically, if they're being honest, they're not happy.
In old times, yes with compromises. But not now in most of the case.
The trend likely reflects sellers trying to attract buyers, who had largely been shut out of the housing market as mortgage rates soared.
i’m looking for another rental or investment opportunity if anyone here is looking for partnership. $500k to invest here.
i don’t know how it’ll be in california, probably will go up forever.
Depends on demographics in California such as number of qualified white collar and skilled blue collar versus the supply of homes.
Are Hollywood and Silicon Valley employment rolls increasing and are they compensating a lot to sustain the trends in California home prices ?
Another factor is if foreign buyers with cash are still interested in buying a home in California.
I've been seeing a lot of this in LV lately. Esp with the high end properties. This one is the most extreme, tho. $10 mill drop.
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https://finance.yahoo.com/news/pimco-kiesel-called-housing-top-160339396.html?source=patrick.net
Bond manager Mark Kiesel sold his California home in 2006, when he presciently predicted the housing bubble would pop. He bought again in 2012, after U.S. prices fell more than 30% and found a floor.
Now, after a record surge in prices, Kiesel says the time to sell is once again at hand.