patrick.net

GNL says

The FACT is there was fraud.

Yes. Borrowers taking money they couldn't afford. Banks knew it was unaffordable. Appraisers inflating values. I saw it all. You didn't. That's fact. Keep taking pictures and stay in your lane. You have no idea about real estate and especially what happened during the housing bubble. No one does here honestly.

When you've dealt with over 2k transactions give me a wake up call. Until then I won't take anyone here seriously about real estate. I'm kind of getting sick of it. No one here has the slightest clue what the housing bust was. Just hot takes from idiots that you bought into. It wasn't one entity that lead to it. There are so many layers. But hey, a bunch of Monday morning quarterbacks with zero real estate experience know it all and I don't. It's kind of cute. Keep thinking you know more than I do. My life ain't hurting based off of how much you all bitch and whine.

GNL says

ad, are you posting this because you think we're headed to 5%? You've been saying this for a little while now. What makes you think we're going to hit 5-5.5% in 2024?

GNL, to answer your other question, you are right as I may not know if my selling agent is withholding bids for my home. I could find out if the buyers agent came to my home and told me this.

Mortgage rates are mostly based on inflation which is an indicator of how well the economy is doing, and also somewhat pegged to the 10 Year Treasury.

So with inflation falling, I see mortgage rates eventually catching up and falling as well. There is some lag or hysteresis with this.

Very Respectfully, AD

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WookieMan says

You're an idiot if you get a loan that is 50% plus of your pretax income

WookieMan says

You have no idea about real estate and especially what happened during the housing bubble. No one does here honestly.

There's the doubling down on stupid I told you about. Wookie knows everything and everyone else here knows nothing. You haven't told me one damn thing I didn't already know about the GFC. And even more projection. You don't even realize what you're doing and have been doing for years. You inject things into conversations that weren't even said by others as if that's what they said. I've got you pegged. You are a narcissist. And dishonest.

ad says

GNL says

ad, are you posting this because you think we're headed to 5%? You've been saying this for a little while now. What makes you think we're going to hit 5-5.5% in 2024?

GNL, to answer your other question, you are right as I may not know if my selling agent is withholding bids for my home. I could find out if the buyers agent came to my home and told me this.

Mortgage rates are mostly based on inflation which is an indicator of how well the economy is doing, and also somewhat pegged to the 10 Year Treasury.

So with inflation falling, I see mortgage rates eventually catching up and falling as well. There is some lag or hysteresis with this.

Very Respectfully, AD

.

No worries, I was just seeing if I could learn something from you.

GNL says

No worries, I was just seeing if I could learn something from you.

I am 0% worried whether you like my posts or not, or if you learn something from me. The only one that cares or worries about that is you.

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ad says

GNL says

No worries, I was just seeing if I could learn something from you.

I am 0% worried whether you like my posts or not, or if you learn something from me. The only one that cares or worries about that is you.

I've upset you? I meant that I wanted to understand why you thought rates would go there in 2024. I'm operating from a position of curiosity.

GNL says

I've upset you? I meant that I wanted to understand why you thought rates would go there in 2024. I'm operating from a position of curiosity.

I am not upset. I just care enough to tell you I don't care if you learn anything. Seems like you are the one that is very touchy and edgy.

I think rates may drop in 2024 even with a tight labor market persisting.

And I think with rates dropping its a good time to start looking at investing in bond funds like Vanguard Total Bond Fund ETF (Ticker: BND).

A 1% drop in a rate results in a 1% increase in price for each year of duration, so that would mean a 5 year bond would increase by 5% in value.

.

ad says

GNL says

I've upset you? I meant that I wanted to understand why you thought rates would go there in 2024. I'm operating from a position of curiosity.

I am not upset. I just care enough to tell you I don't care if you learn anything. Seems like you are the one that is very touchy and edgy.

I think rates may drop in 2024 even with a tight labor market persisting.

And I think with rates dropping its a good time to start looking at investing in bond funds like Vanguard Total Bond Fund ETF (Ticker: BND).

A 1% drop in a rate results in a 1% increase in price for each year of duration, so that would mean a 5 year bond would increase by 5% in value.

.

Well, I appreciate you answering me. I also wanted to make sure you didn't think I was being rude to you is all. I don't care if you don't care either. So there. :)

GNL says

I don't care if you don't care either.

I don't care if you don't care if I don't care, boy

...

GNL says

Wookie knows everything and everyone else here knows nothing. You haven't told me one damn thing I didn't already know about the GFC. And even more projection.

GNL says

No worries, I was just seeing if I could learn something from you.

You literally don't know what Ad is even talking about currently in this thread. Yet you have knowledge about the housing crisis and how it went down? Take the pictures and stay in your lane. You're no different than an inspector trying to justify your role in real estate. Except now a basic phone can take photos as good as you can. Enjoy your industry while it last. Brokers are dip shits, but they can do your job with the phone in their pocket.

Make your money off brokers as long as you can, but don't think anyone respects a thing you have to say about real estate. You don't work in real estate. You work in photography. I have a doctorate in real estate compared to your high school drop out knowledge. I don't care if I'm younger, over half my life was involved in real estate as young at 14. Let me know the last subdivision you helped develop? Let me know the process and what needs to get done. I was doing that at 16. You're throwing darts and they're completely missing the board. You get insecure and defensive and fall to the level of name calling. Just because a narcissist out games you doesn't make me wrong. You simply don't know real estate and I'm a cocky ass hole. I don't give a fuck because I know what the hell I'm talking about after you ask question after question about basic real estate stuff. I'll own narcissist, you can own idiot.

Onvacation says

Aren't our decrepit leaders from the silent generation?

No, MOST of them are boomers.

The Silent Generation is... mostly silent.

Wookie's a property developer now. Haha, you Crack me up. Your bloated sense of self grows every time we banter. Understanding what happened and how it happened ain't that hard to understand. You have 0 insider knowledge. And "knowing" what the fed is going to do with rates at any time would be a great gift enabling riches. Ad doesn't know where rates will go and that's what I asked him. I think @ceffer was the ONLY person here that called higher rates correctly while people, maybe you(?), we're shitting on him. You only know one thing about me. If agents didn't need my business (geeze, do you really not know that some agents still can barely register on a website) then why does my phone ring? My photographers make $300-$400 a day. You're more clueless than I thought.

GNL says

My photographers make $300-$400 a day. You're more clueless than I thought.

No I'm not. So you're McDonalds? I don't wake up for less than $1k a day for my family. The other thing is what do you make? You're maybe pulling 20-30% margins. Congrats on $150/day paying other real photographers. You're maybe making $60k per year off those numbers and that's giving you the benefit of the doubt that they work 365 days a year.

AND if you're paying them $400 day, that also says a lot about your business acumen. You're paying them $60-80/hr???? Maybe more? For taking photos? My oldest can take as good or better photos with his iPhone than your photographers can. You're out of your element dude. Stick to the photography and stay away from RE. You have no idea what you're talking about.

And yes, I've developed multiple website that have grossed well over $50M in revenue. Any other stupid comments. A retard can build a site with modern tech. If I'm a retard what does that make you?

You're not remotely a business person. I don't think you get out of bed at all. You're a self proclaimed drunk even. Go steal some $$ out of your wife's purse.

WookieMan says

AND if you're paying them $400 day, that also says a lot about your business acumen. You're paying them $60-80/hr????

Now you've really shown your ass. You have no clue what kinds of $$ a business can generate...in any business. I know a millionaire who owns a cleaning business. Damn wookie wookie, even that's better than you.

WookieMan says

I've developed multiple website that have grossed well over $50M in revenue.

Wow, wookie wookie is a "website" developer now. There are websites that do a hell of a lot more than just post static pages. LMAO. There's nothing he can't do and nothing he hasn't done and nobody he doesn't know. But lordy lordy, he's still trying to purchase a 2,200 square foot house half the size of a lowly photographer. He's so rich, powerful and smart that he lives in a cornfield in Illinois. A shotgun shack is it?

I live and work in one of the top 2 richest counties in the US. I look at even the richest 20 counties in the US and wow, none of them are in Illinois. My daughters went to one of the top 50 high schools in America.

Poor wookie wookie, always trying to prove himself...anonymously. On the internet. Bwhahaha

GNL says

WookieMan says

AND if you're paying them $400 day, that also says a lot about your business acumen. You're paying them $60-80/hr????

Now you've really shown your ass. You have no clue what kinds of $$ a business can generate...in any business. I know a millionaire who owns a cleaning business. Damn wookie wookie, even that's better than you.

You've again proven my point. YOU pay photographers $400/day. There are no margins if that's what you're paying. I don't care what zip code you live in. The numbers add up to $60k/yr and you're getting all defensive about it. I'm sorry you didn't get married to a wife that kicks ass and makes money. That's not my fault. If you suck at that, I can only imagine the photography part of it.

And yes, my 2,200 sf will be better then your nasty house you overpaid for. Custom built. In ground pool. 1 acre. $2M home in your yuppie county versus what I'll pay. I ain't losing. That's for sure. Keep it up. I've clearly hit a nerve.

If all you say is true, it's not, you aren't fooling anyone, you wouldn't waste your very valuable time mucking around with a person beneath your status.

Not gonna lie, this is 100% my last attempt to help you.

Please call

1-800-hel-pme!

There's no shame in asking for help.

GNL says

If all you say is true, it's not, you aren't fooling anyone, you wouldn't waste your very valuable time mucking around with a person beneath your status.

I have plenty of time. It's called passive income. Your active income makes you a McDonalds manager. Congrats. You probably don't even have a wife, yet proceed to shit on people that are more successful than you are. I'm sorry you can't handle a woman that makes $300k. I can. She wants me. You sound like an ass dude. I've never disrespected you or you family. Jealousy is not a good look dude. Get me a big mac when you get a chance. You're one of the worst pat netters I've dealt with maybe ever. Grow a pair and man up. You take pictures for a living. An idiot can do that.

who am I to say but I guess that is enough to prove your point/opinion, no need to go personal level that does not add any value.

Blue says

who am I to say but I guess that is enough to prove your point/opinion, no need to go personal level that does not add any value.

I hope you're not talking about me. Look at the comment history. I ain't the bad guy. GNL has insulted me, my wife and family. I fight back. Is what is it is.

WookieMan says

I hope you're not talking about me. Look at the comment history.

Actually on both sides, though I don't read fully, just take it easy!

Blue says

WookieMan says

I hope you're not talking about me. Look at the comment history.

Actually on both sides, though I don't read fully, just take it easy!

Generally I do. I'm proud of my wife and I've mentioned her on this site. I'll be blunt, you're (not you Blue) a dirt bag cunt shaming another man's wife. A fucking pussy. Sorry someone is so weak from their own insecurities. At no point on this forum did I ever attack GNL (wine horror and other names, lol) until I was attacked. I have the higher ground in this. He looks weak and jealous. Because he is.

"you're (not you Blue) a dirt bag cunt"

That's a personal insult, no?

,

https://www.sfgate.com/tech/article/downtown-pods-building-permits-unsafe-18406671.php

$700 a month "bed pods" in San Fran are ruled not safe

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Patrick says

How do they maintain an adequate slave workforce ? There has to be replacement of them to maintain the quality of life for the top 10% ?

Import 3rd world immigrants ? Replace with robots and more automation and productivity gains ?

ad says

,

https://www.sfgate.com/tech/article/downtown-pods-building-permits-unsafe-18406671.php

$700 a month "bed pods" in San Fran are ruled not safe

.

Yes, life on the streets is soooooooooo much better and safer.

Patrick says

"you're (not you Blue) a dirt bag cunt"

That's a personal insult, no?

No, mentioning that Blue is NOT a dirt bag cunt. He didn't insult my wife or my family like another user did. I also didn't mark any comments as personal. But I also will get personal when a user brings up stuff about my family. I have no issue with Blue at all. Was just explaining how and why a user has taken a dump on this thread for no reason and is wrong and doesn't know a lick about real estate. Again NOT Blue.

Sick of people that don't know shit about what they're talking about insulting other users. I will fight back.

Misc says

ad says

,

https://www.sfgate.com/tech/article/downtown-pods-building-permits-unsafe-18406671.php

$700 a month "bed pods" in San Fran are ruled not safe

.

Yes, life on the streets is soooooooooo much better and safer.

These "pods" are marketed to AI startup employees, not bums, lol.

Eric Holder says

These "pods" are marketed to AI startup employees, not bums, lol.

So, they only sleep one person?

HeadSet says

Eric Holder says

These "pods" are marketed to AI startup employees, not bums, lol.

So, they only sleep one person?

No, the H1B's would be sleeping in shifts trying to save a buck.

ad says

$700 a month "bed pods" in San Fran are ruled not safe

But tents in a parking lot with portapotties are. Fucking Leftoids.

"This is sustainable, never mind 7% mortgage rates! You chicken Littles!"

AmericanKulak says

"This is sustainable, never mind 7% mortgage rates! You chicken Littles!"

You left off the end of the chart where the prices go back up after January 2023. Many people have this belief that this time is different, and that prices of real assets will decline during this period of inflation.

Since most real estate transactions have historically been done with financing, I can see why people would think that based on only a slightly higher-take-home pay, that the massive increase in interest rates would curtail the buying power and hence the price of SFHs. This begs the question, "What did the price of SFHs do the last time interest rates were at this level?" - The answer is...they went up.

Misc says

You left off the end of the chart where the prices go back up after January 2023. Many people have this belief that this time is different, and that prices of real assets will decline during this period of inflation.

I snapped the chart exactly as it showed by default on the St. Louis page.

The last few decades were freaks. Demographics are all negative for the housing market. Boomers aren't gonna live forever, and many are depending on getting the cash out their house. Those who aren't, will need to sell due to health or death or fixed income from having to carry their old house and their retirement property. Sure, for a while people can hold out. But not for years and years.

New House prices are now cheaper than Used Houses, and builders are offering superior financing to most banks.

However much Boomers don't want to lower their price, because they can't climb up the stairs to the bedrooms...

https://www.youtube.com/watch?v=o6xGqi5itxs

Wah, Wah-ah-ah-ah-ahhhhh...

You wonder how I'm feeling, tinitus is ringing in my ears.
I slipped down the stairway, I'm laying in my pee.
Now Depends I can believe in
When I've fallen on the floor.
Gotta hit the Lifealert Button. Which child do I phone ?
My lights are out and shining. But all I really want to know...

I need to sell my house, can't climb up to the Loo
Gotta take $100k less, so I can do my ADUs.

Now my kids live 3 states away,
They can't do the shopping for me...

AmericanKulak says

I need to sell my house, can't climb up to the Loo
Gotta take $100k less, so I can do my ADUs.

Now my kids live 3 states away,
They can't do the shopping for me...

They should sleep in their coffins so their 'sudden vax death' doesn't lead to cumbersome disposal inefficiencies.