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housing prices peak 2


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2022 Apr 29, 9:29pm   596,801 views  5,508 comments

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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.

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5502   Blue   2024 Oct 20, 1:56pm  

SoTex says

If I remember correctly I think in CA you can tear down to the foundation, leave one wall up, extend, rebuild whatever and your property taxes will not be effected?

I know one anecdotal evidence when attended to housewarming ceremony of relatively wealthy family. Found one big patch at the back of the new house. Later, I saw a related message on this site from Eman that house to be build with two work orders with interesting wording that should keep 1978 Prop 13 tax! That patch can be fixed with second work order.
5503   WookieMan   2024 Oct 20, 2:09pm  

Blue says

I know one anecdotal evidence when attended to housewarming ceremony of relatively wealthy family. Found one big patch at the back of the new house. Later, I saw a related message on this site from Eman that house to be build with two work orders with interesting wording that should keep 1978 Prop 13 tax! That patch can be fixed with second work order.

At some point your guys state is going bankrupt. It's a when not if. You haven't had the full exodus yet. It's almost weekly I hear of a big celebrity leaving. That's not small tax dollars at 13% on the top end.

You could be a doctor, IT or nurse in Iowa or Arkansas for a fraction of the cost with the same pay. Money saved, you travel more. Problem solved. Cheaper house, money saved. Just fly to the beach monthly with the $4k/mo you could save. Or mountains. I highly doubt working people have that much time to enjoy the CA weather. Especially with kids.
5506   GNL   2024 Oct 21, 12:49pm  

WookieMan says

But they won't look at the place if the photo look like shit. GNL could like attest to this.

I guess it depends on who's looking for what. Maybe a shitty FE photo would attract the investor types the Realtors is trying to attract? But, yeah, for the most part, in my experience, Realtors want homes to be in perfect condition all the way down to the lawn and all the way up to the roof. It's pretty difficult for a buyer's agent to negotiate on a home that is in perfect condition.
5507   Ceffer   2024 Oct 21, 3:25pm  

'Nother teeny sugar shack around the UCSC alluvial meth field. At least this one is renovated. Wonder what you could buy in Houston for this amount.

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