patrick.net

sbh says

In your case, just living in OC puts you behind a big eight-ball right out of the chute. If you wish to have kids, well, maybe you cannot under those two conditions expect to form capital until the last ten years before retirement.

Yes, and my argument that locations like the OC are not sustainable is exactly this. It would surprise me if a metro area of 20 million could possibly become so stratified that it's a city of renters with kids and owners without. But...

sbh says

If I lived in high-cost California I'd try to rent and invest instead of going the home ownership route.

Yes, I agree this would be a good move. However, since I already have kids I would like to have them not grow up in a shack so I'll probably be dumping 100k into just a downpayment. That means I'll have a very nice nest egg in my house when I retire, but it also means I'll be spending a lot to get it.

sbh says

but I haven't run the numbers since the early 90s, and it was never the Cali market that I considered.

Well, if we assume that houses now appreciate without end, the numbers would be different today. But if we assume that homes still increase in value with inflation (long-term, on average), then the numbers are still the same as the 90s. I agree that common stock is a better investment for 1 and only 1 reason: stocks don't have plumbing to fix!! The numbers when I have looked at them are about equal, although others debate this 10-20% either direction. However, the hassle and cost of maintaining a home IF it only increases in value with inflation makes it a no-go for me. But if you play the market right, it could be ok. However, when RE does well, stocks often do also...

egads101 says

kashif313 says

If I buy a house in SoCal: $500,000 with 20% down, 30 year mortgage, 3.5% interest rate vs. 4.5% interest rate, the payment is $1,796.18 vs $2,026.74 or a difference of $230.56 per month. Yet you say mortgage rate increases are not relevant?

If you don't buy a home, and rents increase by 10% for the same type of home over the next say 3 years, a not unlikely scenario, well there goes your $200 a month issue with the mortgage.

Also, the $230 is tax deductible, so in effect it is much less than that. And if rates go back down, you can refinance.

Call it Crazy says

Call it Crazy says

thomaswong.1986 says

few homes in the USA are worth $500K. Of course many like to throw out

$500K as being some kind of "normal" price... when its not.

The median sale price today in the US is around 250K, so if they want to spend 500K as "normal", feel free.......

Actually, I just read, per NAR, the the median price as of July was 213K.....

It just depends what your "normal" is......

The US is a very large country...

44% of Americans oppose raising the debt ceiling
Why does this surprise anyone?
Only 44% of Americans work today.

What is causing our debt crisis? Pristinely focused self-interest among our leaders. There are a bunch of psychopaths running Wall Street, Washington, and everyone else is just following their lead. We've put the wolves to guard the sheep, and then are surprised when they trade the pasture for a desert and pick the sheep off for mutton! The real problem with government, business, religion, and society in general is that people neither understand nor appreciate that people are not all basically good. 4% of the people have no conscience and are out there actively causing harm to the other 96%. When they get in positions of power (which the smarter ones are highly prone to do), they can cause mass devastation across wide swaths of society, and then retire wealthy.

I read an article on HuffPost yesterday about an awful obituary some adult children wrote for their aged mother who died. It accused her of systematic abuse and stated that they and the world were better off with her not around anymore. The perhaps surprising thing was the plethora of comments where people admitted to having awful abusive parents and said they fully sympathize with the obit writers. It wasn't surprising to me. Psychopaths can be mothers as well, and they invariably make their children's lives a living hell.

Human civilization seems to "naturally select" psychopaths for positions of power.

Sorry! Someone is STILL wrong on the Internet!!

Why are you posting photoshopped image?

gsr says

Why are you posting photoshopped image?

I believe he's making fun of those 2 brainless tea-party cunts.

Obama didn't avoid the War Putin did, that my friend is where in the Irony lays.

Putin is one up on Obama for doing a Kennedyesque gesture in his term as a leader. Obama won a Nobel Peace prize for best Kennedy impersonator, but let's face it, he's been any thing but Great.

Are you guys sure Obama isn't a Patnet member? He sure is as clueless as the rest of you.

President Obama dismisses the notion that he mishandled his response to the crisis in Syria, saying during an interview that Washington is more concerned with style than substance, ignoring suggestions that Russian President Vladimir Putin is gaining the upper hand

http://www.youtube.com/embed/8g3tQaqizh0

You gotta love how when Obama says he's going to take military action, the right-tards are suddenly anti war. But now, when it looks like military action might be avoided, they're pissed about that too.

I don't think it matters what Obama does; you are against it simply because he did it.

That is a misrepresentation of the tea party. They have always been anti-war, promoting military isolationism. Could be accurate though for some Republicans.

Homeboy says

You gotta love how when Obama says he's going to take military action, the right-tards are suddenly anti war. But now, when it looks like military action might be avoided, they're pissed about that too.

I don't think it matters what Obama does; you are against it simply because he did it.

The interests of The Republican Party supersede those of the United States.

But they are not traitors.

thomaswong.1986 says

few homes in the USA are worth $500K

Define "worth"

Time to lay off the steady diet of Rush Limbaugh...

Cic,

The people who have the power to screw you aren't middle and upper-middle class folks with waterfront property.

Fegads101 says

If Obama went on tv and said, " I want everyone to join the republican party, and only vote for republicans from now on" the GOP would come out against it before the speech was over.

For you, on the other hand, the opposite is true. If Obama wants it, it must be a good war. If Republicans want it, it must be a bad war.

If you like the war, why don't you go and fight, and join the cannibal gang who eats out heart and liver of enemy soldiers?

Call it Crazy says

Bigsby says

The US is a very large country...

Wow... Thanks for that newsflash!!!

And yet you say what you say.

Obama is a moderate Republican.

mell says

That is a misrepresentation of the tea party.

You're right. There aren't enough spelling errors for it to be a real tea party sign.

Blurtman says

Obama is a moderate Republican.

Circa 1990.

Today's moderate Republican thinks that taxes cause cancer, that we're living in the end times, and that executing women for getting abortions is the only legitimate function of government.

The line between the moderates and the right-wing Republicans is on the issue of Israel: the moderates believe all United States assets should be given to Israel; the right reads The Turner Diaries.

The country has shifted right.

HydroCabron says

The interests of The Republican Party supersede those of the United States.

But they are not traitors.

True.

They have their very own special constitution. They want to replace the pledge of allegiance with something with more hate and more religion in it. Because that's what Jesus would want.

Eliminate flood insurance for any new building in any 500 year plain.
No insurance for anyone that "rebuilds" in 500 yr. plains.
You build.You take responsibility.
Oh,I forgot;"It's not my fault."

Roberto Ribas spends his time on here acting like a child under an assumed name, but we all know this despised community college teacher for who he really is. he cant hide how much of a cunt he is even if he tried

Pull the plug on QE and let's find out where the economy really stands.

The Los Angeles Times. “The number of so-called absentee buyers, usually cash investors, has dropped slightly in Southern California since hitting a record in January. But they still account for more than 1 in 4 home purchases in the region. And just 8% of those deals were on foreclosed homes in June, compared with 25% a year earlier. ‘Everybody and their dog is an investor,’ said Dick Caley, a Long Beach real estate agent. ‘It has gotten to the point where I do not even return the call.’”

“The mix of investors and their strategies are shifting, with large financial firms starting to pull back and smaller players moving in, looking to buy, fix and flip homes for a quick profit. The short-term mentality worries some economists. ‘Flippers are selling to other flippers, who are selling to other flippers, until there is nobody to flip the home to,’ said John Burns, a housing industry consultant in Irvine. ‘And that is when you have a big downturn.’”

“Experienced flippers say the increased competition is forcing them to change tactics. Brian Coomans, owner of investment company GGB Properties Inc. in Long Beach, sees a short window of time left to make money. ‘I know I am not going to be doing this forever,’ he said. ‘I have maybe a one-year window, a two-year window to be flipping homes like this.’”

So what's your housing prediction for CA?

Bigsby says

So what's your housing prediction for CA?

the flatlining has already begun in the past 60 days due to fed tapering, now time to let the market do the rest!

Perhaps you'd care to put a number to your prediction.

How many buyers search the interwebs & do drive-bys to avoid commissioned sales people's pressure tactics & find the listing to be an overpriced shack in a dumpster neighborhood?

Shyster associations should fire any representative that doesn't continually Pump-Up the Hype.
Looks like sales will increase & prices will rise. Traffic is down but most are discriminating buyers.LOL

Does anyone else get the feeling that there is some disagreement here on the future of real estate prices?

I suspect it is in danger of becoming slightly uncivil.

Bigsby says

Perhaps you need to reread my earlier post - you know, the one where I said he can post his prediction as well and then the two can be compared.

when he post a specific number, then so will i. until then, your lover is predicting much higher up, and i'm predicting down

Iwag says

look at this loser with his lies again. i bought in 1991, you know, back when your haircut was still in style?

i would gladly compare my housing gains to your housing gains anytime Roberto. all of your phoenix desert shacks compared to my single San Francisco victorian that i bought over 20 years ago. you really want to compare who timed what better asshole?

honestly the only punishment i really fear is ending up like Roberto Ribas. it keeps me up at night, and pushes me to do greater.

So why are you so vein-bustingly trolling this site then? A bit sad for someone who is seemingly in his 50s or older.

Bigsby says

So why are you so vein-bustingly trolling this site then? A bit sad for someone who is seemingly in his 50s or older.

if i didnt post, what would you do with your life? follow someone else?

Iwag says

Bigsby says

So why are you so vein-bustingly trolling this site then? A bit sad for someone who is seemingly in his 50s or older.

if i didnt post, what would you do with your life? follow someone else?

You've posted 85 comments and been on here for a few weeks...

And you still haven't put a number to your prediction... or explained why someone who is supposedly of your advanced years is behaving the way you are.

Bigsby says

You've posted 85 comments and been on here for a few weeks...

And you still haven't put a number to your prediction... or explained why someone who is supposedly of your advanced years is behaving the way you are.

are there other observations youve made about me bigby? are you in love yet?

Bigsby says

He would be wrong, and so would you.

but would you kick him out of bed for it?