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1,261,131 comments by 15,056 users - AmericanKulak, stereotomy online now
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Yes, the opportunity of a lifetime to lose money. Gotta admire stupidity.
P2D2
2009 Oct 9, 2:40am
The only thing you can do is carve out your own piece of the pie with wits, guts, savvy and lots of luck.
Don't get priced out forever. Buy with GUTS.
Said by someone who inherited (with GUTS) most of the properties he owns.
And all the charts, insight, blogs and babble here is not going to change a single thing….EVER!!! Right, wrong, moral, ethical or otherwise…..but I do enjoy the entertainment. The only thing you can do is carve out your own piece of the pie with wits, guts, savvy and lots of luck. For some, this has been the opportunity of a lifetime. I have never seen anything like it.
In what way have you taken advantage of the situation? You said your family handed you several houses (and probably a good amount of money) which you basically held on to, aside from one that you sold which you didn't even sell near the peak. Your rents are back where they were before. It seems like you haven't done anything other than sit on what you've been given. Where's the wits, guts, savvy? In your case, it was 0% wits, 0% guts, 0% savvy and 100% luck of being handed everything. If anything, you bring the comedy to this site by trying to be a hero when in reality you haven't accomplished more than a 5-yr old trust fund baby could accomplish.
Cheesy…I mean Campy…how on earth do you know WHAT my rents are????
Based on what you said, genius. This is a quote from a prior thread:
nowhere but up from here
The last two homes in our rental property “area†sold and both have been moved into. Now there are zero homes on the market and I’m getting as much for rent as I did during the “boom†years in ALL my rentals…..yeah, it may suck in your world but mine is moving right along…..America…still the land of opportunity if you have the BALLS to make it work……
Sep 2, 8:05 AM — [ ] — Welcome To The Bottom: Housing Begins Slow Rebound (AP)
It's a good thing mommy and daddy gave you lots of money and houses. From your postings here, I don't see how you would have made it on your own.
Bap33
2009 Oct 9, 4:15am
lol .... someone needs to let 'ol nowherebutup in on the secret .... when you die you leave all the paper and shiney rocks here. Good luck collecting.
It's almost as if wealth collection is his "compensation device" ... if you catch my drift.
Serpentor
2009 Oct 9, 11:38am
don't feed the troll. don't feed the troll. don't feed the troll. don't feed the troll. don't feed the troll. don't feed the troll. don't feed the troll. don't feed the troll. don't feed the troll. don't feed the troll. don't feed the troll. don't feed the troll. don't feed the troll. don't feed the troll. don't feed the troll. don't feed the troll. don't feed the troll. don't feed the troll. don't feed the troll.
Bah, finally setup the account for this board now that the old one appears totally toast. Amusing thread. I'm not seeing a bottom soon here in the mid willamette valley of Oregon (Salem). A couple of rentals I've looked at seem to be around 2004-05 prices. Rents are a bit higher than they should be I think but supply is low for quality. One place I looked at last month had just sold for 212k, its 05 price according to zillow. In 07 it was bought for 279k or so IIRC. 50k right off the top in 2 years. The owner mentioned he was glad it was done, it had taken a long time to get everything all negociated. Though he hushed up beyond the time factor, which I'm guessing meant short sale/bank issues.
I too see the bidding going for entry level stuff that stuns me somewhat. Its not too surprising as that part of the market was/has been going pretty well the past 2-3 years while anything 250-300k+ has been taking 1yr on avg to sell. Still, folks are buying into the emotional jargon and the "its a deal!" mentality. I'll look seriously when the market hits 2000 price levels or certainly mid 1990s levels. When family could buy a nice 3/2 home in Vancouver WA for 140k in 02 thats now at 212k and falling...
Oh and Nowhere, I was/am lucky in my fortunes and I'm not interested in buying, as much as it would provide me with more stability and ease in my life.
Oh and and hi to PDX housing blog folks. :)
Bap33
2009 Oct 10, 9:56am
I'm betting the Cali bubble bux that ran to Oregon are going to raise hell there for a while
Oh, they have Bap and prolly will continue. Last to start up, last to pop. Bend and Southern Oregon being the worst hit.
Leigh
2009 Oct 11, 4:38am
Yeah, and the Portland area didn't party in the sub prime room, we'd much rather drown in the Alt-A kool-aid!
unemployment continues to climb…this party is still swinging!
This came up from a headhunter. Read the last line..... Mfg, R&D, Accounting leaving our shores..
so much for the talk about high paid dual incomes couples....
Director of Philippines Accounting Operations Center
This outstanding opportunity is in the Philippines!
As Director of Accounting/Finance, you will be responsible for overseeing all aspects of the Accounting Operations Center located in the Philippines. These responsibilities include supporting both Philippines and U.S. operations.
The Philippines perspective of this position involves hiring, training and oversight for Accounting Operations Center employees; coordinating the month end, quarterly, and annual financial close processes with the Dallas and India accounting and finance staff; processing A/P, payroll, and all internal and external reporting of financial results and analyses of the Philippines operations on a consolidated basis; ensuring the Philippines operations are compliant with all reporting requirements and monitoring the adequacy of certain reserves.
Support of U.S. operations will involve certain invoicing, payroll, cash application and accounts payable functions for field operations and corporate accounting, process documentation, ad hoc projects, identification of additional processes to migrate and subsequent transitioning of those tasks to the Philippines.
This position also provides support to the company's independent auditors regarding transactions and accounting processes to ensure results are properly stated.
• Manage the Philippines Accounting Operations Center (U.S. support) – 70%
• Hire, develop and oversee the continuity of Philippines accounting department employees
• Oversee the transition of various accounting processes from U.S. to Philippines
So now your employers accounting will come from overseas....
« First « Previous Comments 98 - 109 of 109 Search these comments
Something crazy has gone on for the last couple of months. A lot of people who have been waiting years to take the plunge into home ownership have finally done so. Here are some of the points that were made by the newly crowned home debtors....
- We have been hoping too for prices to fall, but leave alone offering asking price, we have been outbid on offers several times and were finally having offers accepted only if we offered more than 10% above asking price.
- Interest rates are the lowest they have been in years. We are not going to miss our opportunity to buy Bay area real estate. It hurt missing the boom last time and we cannot go through that again.
- Kids are growing and if we wait for homes being 3X ( or even 5x) times AGI, it will never happen.
- Peer pressure. All my friends who have waited have bought homes. Surely all cannot be wrong...
- I do nto care if real estate goes down. I want to live in my own place and I am not looking to flip.
- Restaurants are full these days. Looks like all the stimulus is working.
- Rents are going up. I just got a 10% increase for my 2 bed 2 bath. Heck, with all this money pumping, what is the guarantee that your rent stays steady, especially when you are in a good school district ?
- The $8K incentive
- Lots of Indians especially buying. These guys spend 60% on housing and for dual income husband wife software engineers, $500K mortgages are cheap considering their inclination to save and spend on property.
Looking at how the Fed and the govt. have manipulated the market and offered all sorts of outlandish programs to aid home debtors, it does feel like I am being short-changed here. Are there options available to sue the government for discrimination based on choice of housing ?
#housing