patrick.net

NuttBoxer says

This is true of pretty much all Christian holidays. The reason for the mingling in of pagan elements stems from the fact that early Christians had to plan their celebrations around Roman holidays, because that's when they had free time.

The Jews of America also did that, adopting Hanukkah as a “major” holiday so their kids wouldn’t feel left out at Christmas. If you read the back story to that one it’s super super super lame. All about a Macabee rebellion and authority crackdown and some Jews hiding in a basement or whatever and a candle burned longer than expected so it was a miracle and stuff. Doesn’t come close to the significance of Christ’s birth, but Jewish kids get gifts for seven days so everyone is happy?

Off the subject, capital gains taxes are a record in 2021.

Because some of my investments are not in retirement accounts, I owed a lot more than in 2020, about $10,000 of my tax owed.

And this is my Prince Harry post for today.

I didn’t believe in Easter, but now I do.

If a living dead Biden can walk around, why can’t Jesus have risen?

HunterTits says

This is one thing California has done that is better than the other states: Prop FUCKING 13.

Oh don't worry. That's about to get repealed in a few years. They tried the commercial property repeal a few years ago and BARELY lost. Prop 13's days are numbered.

Al_Sharpton_for_President says

Where is the next Boise? All of them Californians moving there spells its demise.

Austin is overpriced as hell. San Antonio and related suburbs went up too, but remain around a $300k median price. While the job market is more robust and diversified in Austin, in no way does it justify a mind blowing $625k median price. Factor in additionally that you can buy a really nice place in exurbs of San Antonio for under $250k and actually still have a reasonable commute, and it shows how far out of whack the two markets are.

Hircus says

A suddenly failing memory could also be a clever defense against some charges she may fear will be soon levied upon her.

"I'm sorry judge I just dont remember"
"What specifically do you not remember?"
"omg where am I? help."

I actually wouldn’t be totally surprised if it’s all a ploy to seat Eric Garbagecetti as Senator without having to win an election first, especially now that he apparently won’t get that Ambassador to India position.

Why are Californians hell bent on repealing the benchmark of low taxes to protect the home owner, instead of demanding RE taxes should be low for all primary residence owners?

The "What about them!", instead of a stronger, "hey what about us too!" mentality is what has helped them to do even greater damage. Everyone is willing to fuck everyone else, as long as they think it doesn't affect their own current condition. Even though it's something that may bite them in ass, further on up the road.
We're taking away our own freedoms, by chiseling away at other's, rather than helping them hold the line tooth and nail.

CA handled plenty of housing crashes before. All the jobs and economy is here, they can get away with murder and still make it.
After every crash, things eventually get back up and higher than previous peaks.

What you see today for 500k will be a 1M+ in next 10 years. There are a lot of reasons and incentives for it for everyone involved at every part of housing market.

FortWayneAsNancyPelosiHaircut says

CA handled plenty of housing crashes before. All the jobs and economy is here, they can get away with murder and still make it.

The real question, is Can California's economy handle real estate prices continuing to increase?

Pricing out employers (and so, employees), pricing out young families (whose children are needed for the economy to have any kind of future), pricing out every kind of low-, working-class, and middle-class workers in the service economy and local civil service.

Can California's economy handle that?

HunterTits says

Who gives a shit.

Californians.

Patrick is a Californian.

He began this blog in discussion about the insane housing market in the region.

B.A.C.A.H. says

FortWayneAsNancyPelosiHaircut says

CA handled plenty of housing crashes before. All the jobs and economy is here, they can get away with murder and still make it.

The real question, is Can California's economy handle real estate prices continuing to increase?

Pricing out employers (and so, employees), pricing out young families (whose children are needed for the economy to have any kind of future), pricing out every kind of low-, working-class, and middle-class workers in the service economy and local civil service.

Can California's economy handle that?

it'll stop when it can't man. right now people are still buying over asking. and it's conventional 20% loans. how long this will last? I don't know. But I still think that everything today will be double 10 years from now.

CA real estate prices keep surprising me. I thought 2010’s decade would repair the damages that were made in 2000’s, and we would see 2006-2007 prices again during this decade. Well, not only did we see these prices, we blew past it. Then came the roaring 2020’s. 🤯

Eventually, whenever that is, real estate prices should come back to the mean. They did for a while during 2009-2012, but some people kept insisting that prices were still too high and missed the boat.

I still remember BMWman bought a house in Santa Clara for $850k around 2015. Everyone thought that was outrageously high. It has probably doubled in value now. Simply insane and not sustainable at this rate of appreciation, but who am I to say?

Non smokers and Conservatives will qualify for 5o year loans.

DooDahMan says

The average cost of a manufactured home in 2019 was about $82,000

Pure stupidity!

Follow the interest rates. If they keep going up, watch out below. Nothing else matters.

Yep, it's not just 80s and 90s boxy CBS homes that were going for $150k in Central Florida 4-5 years ago but $300k+ now, but RV Lots have gone from the $400s to the $900s - in the off season. A spot in a non-55 mobile home park are now in the high 5 figures. I've seen 6 figures for lots (basically 1/20th of an acre) in the nicer ones.

That map of Florida is totally wrong: The keys aren't "Part of Cuba", but Alcoholic Jimmy Buffet turning Wall Street Asshole. Normal People and Golf is what Martin, Palm Beach, and much of Broward used to be. Those areas are now Wokey Dokey, both from Yuppie Execs and Gimme Dats.

Eman says

CA real estate prices keep surprising me. I thought 2010’s decade would repair the damages that were made in 2000’s, and we would see 2006-2007 prices again during this decade. Well, not only did we see these prices, we blew past it. Then came the roaring 2020’s. 🤯

Eventually, whenever that is, real estate prices should come back to the mean. They did for a while during 2009-2012, but some people kept insisting that prices were still too high and missed the boat.

I still remember BMWman bought a house in Santa Clara for $850k around 2015. Everyone thought that was outrageously high. It has probably doubled in value now. Simply insane and not sustainable at this rate of appreciation, but who am I to say?

i didn’t understand reasons for this well until i spoke to political leaders in CA. Once i saw where all the funding and money is in, it became very clear.

Al_Sharpton_for_President says

Where is the next Boise? All of them Californians moving there spells its demise.

Im moving to Boise, already made it clear to neighbors im not a liberal. every house in subdivision has trump and blue lives flags. fucking beautiful.

HunterTits says

Goran_K says

Oh don't worry. That's about to get repealed in a few years. They tried the commercial property repeal a few years ago and BARELY lost. Prop 13's days are numbered.

Uh, no. You confuse the two.

Just because the homeowning voters were mostly in support of nailing commercial property does not translate into them doing the same to themselves. No way.

That's why the repeal ONLY mentioned commercial property.

Oh, and now that lots of Californians are transferring actual ownership to LLCs, trusts and corps themselves, the window for even supporting the carve out for corporate property is diminishing, not increasin.

I am not confused at all. You have too much faith in Democrats in California. I know exactly what their game plan is.

The commercial repeal was just a test of how far they could push it. It nearly passed. California is bleeding conservative voters and moderates to other states in droves right now. In a few years, I will bet anyone here up to $5,000 that the commercial repeal gets put to a vote AGAIN and this time it passes.

Once that passes, the residential one will be next and the long term trend isn’t looking good. Democrat politicians in California can see the same numbers I see. Home ownership in CA has dropped nearly 10% since its peak in 2005 and the current ownership rate is 17% below the current national average. Once it goes under 50%, Prop 13 is dead and gone. Guaranteed. California democrats will most likely get rid of it in a trade off; something like “We need to get rid of prop 13 to support CA Healthcare for all.”

That’s all it will take.

Ceffer says

Which of those branches lead to Caligulan excess? I regret that I don't see any Caligulan excess in there.

inflation lowered expectations from caligulan solendor to 900sqft apartment in a blue collar neighborhood with a 2 hour commute to work.

Boise downtown is California lite.

There's a ®ealtor For Sale sign in front, but the Real Estate website says it's off the market. Sold already. That's where they got the $1.087 M valuation from.

We know what that means. The sign is for the ®ealtor to attact more Greater Fools to their next pocket listings.

The lucky buyer signed up for a Property Tax bill close to $1000/month for the privilege of owning this gem. What's with the bars on the windows, anyways?

Note the stucco'd over garage door. Does the 1100 sq ft cited on the website include the floorspace of the converted garage?

https://www.zillow.com/homedetails/1785-Hopkins-Dr-San-Jose-CA-95122/19727040_zpid/?source=patrick.net

RedStar says

Boise downtown is California lite.

last time i was there saw 1 black guy total there. at first was worried, like shit this place is going down. but then thought to myself… hes alone how badly can he fuck it up all by himself? itll be fine.

HunterTits says

RedStar says

I'm pretty sure the industry will roll out 40 year mortgages to keep prices up,

Right before the Japanese super-bubble in the 90s popped, they were offering 100 year multi-generational mortgages there.

The banker who gets on stage and pats himself on the back by spouting utter bullshit by calling a 100yr mortgage an "innovation" deserves a punch to the mouth for being so damn stupid.

Is it a good time to buy a house? JK

The state of RE is bananas! Union Bank advertising 5.5% 30yr fixed today.

Zillow says another year of double digit gains in 2022.

Bananas 🍌

If you want a career, get a job!

So many young people don't seem to want to work. They want a credential and a high paying job but are not willing to put the work and sacrifice into getting there.

Success is not a destination you arrive at, it's an altitude that you fly at.

Not sure when but recession may slowdown or crash the prices which will be followed after the current pent-up demand ends. At least in Bay area there is almost no new building activity to slowdown the prices.

Fortwaynemobile says

Im moving to Boise

North or south of downtown, if you don't mind me asking. Boise seems to be spreading out, with quite a few planned communities on the outskirts.

DooDahMan says

The 5 largest ethnic groups in Boise City, ID are White (Non-Hispanic) (83.2%)

Yeah, but what is the trend? Maine be the whitest state, BTW.

Fortwaynemobile says

RedStar says

Boise downtown is California lite.

last time i was there saw 1 black guy total there. at first was worried, like shit this place is going down. but then thought to myself… hes alone how badly can he fuck it up all by himself? itll be fine.

I was about 8 years old when I saw my first black.

Al_Sharpton_for_President says

Fortwaynemobile says

Im moving to Boise

North or south of downtown, if you don't mind me asking. Boise seems to be spreading out, with quite a few planned communities on the outskirts.

to the north west of it

Eman says

CA real estate prices keep surprising me.

Nobody wants to live there anymore, yet prices keep going up.

its a beautiful story of courage. i recommend everyone watch “30 seconds over tokyo”. thats america before woke bullshit, pure patriotic america

California doesn't have an economy, it's just a vacuum.

DooDahMan says

The 20 Worst Places to Live in Idaho

https://moneyinc.com/worst-places-live-idaho/?source=patrick.net

Absolute horseshit anti-Idaho propaganda.

Fortwaynemobile says

RedStar says

Boise downtown is California lite.

last time i was there saw 1 black guy total there. at first was worried, like shit this place is going down. but then thought to myself… hes alone how badly can he fuck it up all by himself? itll be fine.

Its not race, its leftist mentality.The closest I would live to Boise would be Kuna or Middleton.

So where is the next California I can invest in early?

NoYes says

So where is the next California I can invest in early?

Florida, all rich people are buying there, they know stuff before we do.