patrick.net

DinOR,

Sorry, I posted that before I saw you MISTER technology post.

Good article. I see it as irresponsibility coming to roost. Refinancing incures costs, usually thousands, even if the rate is lowered. I know, they roll the costs into the loan. Why do people always have to be in a monthly payment mindset? Why not forget about any home you cannot buy with a fixed rate, then work to pay off the mortgage? I would love to see a national mindset where people expect to own thier homes outright by the time they are 40. And only the very young would take out a loan for a car.

the_lingus,

Yes, that is my answer. I worked a 40 hour + week for over 3 DECADES! I don't recall being treated remotely fairly by ANY of my employers (be the liberal or conservative) or who resided in the White House. So armed with a lower middle class upbringing and an Assoc. in Fire Science (and a TON of debt) a wife and teen daughters I started my OWN business and now find that I am treated quite fairly. I fund my OWN pension and have my OWN healthcare plan.

Guys like you need to stop blaming the administration, sack up and start making a meaningful contribution. Your presence on Blogs of this caliber is only for the shear joy of starting flame wars and nothing else. I also recall that folks over at Ben's are about as receptive. Be they liberal or conservative. Bye bye.

DinOR,

OOPS, did I miss the point? Was it about the financial illiteracy of not only the public, but the supposed experts?

Guys like you need to stop blaming the administration, sack up and start making a meaningful contribution.

I agree.

I have a funny feeling about the future though.

Patrick.net will have as much luck in banning me as Benny and his handjob queen Robert Cote.

Why? Do you want to try?

About 20 minutes was spent on the psychology of people responding to fires, and it was fascinating.

Wow.

The scientist said another minute or so and the people would have collapsed and died, all because they didn’t want to yell or leave their place in line.

Huh? Silly. You will see me walking out the door calmly and quickly.

Damn, people are still buying houses in Mountain View, don't they know that we want it to crash??? If people who bought last year are going to be really FB's, what about the people that are still buying now?

headset,Claire,

Lost a post there. Anyway, the article (in my mind anyway) just exhibits that people seem to understand how leverage works when things are working their way, and yet suddenly fail to understand it when it turns against them. This lack of financial understanding will lead to more self inflicted "un-doing" than anyone else could to you.

Damn, people are still buying houses in Mountain View, don’t they know that we want it to crash??? If people who bought last year are going to be really FB’s, what about the people that are still buying now?

If people keep buying there may be a soft landing in certain locations. Mountain View is not a big place.

Be patient.

DinOR,

Yeah, I know, but it amazes me that supposed accountants are crying foul, if they can't work the figures and read the loan agreement, then who can?

"It was in the small print" - boo hoo

SFWoman,

What's worse is that fire has this natural tendency to reach out and "grab you". The theory goes that as it voraciously consumes oxygen it creates a vacuum and actually draws flammable material into it. In this case YOU!

There have been so many advances since I worked in that field I doubt I could get through the "volunteer exam" these days.

This lack of financial understanding will lead to more self inflicted “un-doing” than anyone else could to you.

It may not be about financial understanding. Some people choose to believe in the best case scenario. I choose to consider the worst case scenario. This is why I am always depressed. :(

Peter P,

If anywhere will be soft, it probably will be Mountain View, worse luck for me :-( I'm also interested in a house with a garden, so any bargains in the condo, townhouse market are out :-(

What’s worse is that fire has this natural tendency to reach out and “grab you”.

The other theory: IF you are fated to die you will. I thought the word "fatal" comes out of the word "fate".

the_Lingus,

This is a RE blog first and foremost, and while politics comes up, it's improper to inject politics into your every comment - that goes for politics on the left and the right. Indeed, doing so, especially when your politics radically differ from others on the site and when you're not willing to listen to the other side, is highly disruptive and liable to get you banned even if you do have good points.

If anywhere will be soft, it probably will be Mountain View, worse luck for me I’m also interested in a house with a garden, so any bargains in the condo, townhouse market are out.

Why Mountain View? Some condo/townhouses have gardens. Some SFHs only have small decks.

Will you consider Campbell? I may probably look there.

Claire,

At this point, wether or not she/he claims they didn't read or understand really doesn't matter. They signed it, "I mean that IS your signature, is it not"? The other thing that was shocking was that the couple originally listed their MI home for 400K, now they're asking 270K! It will be so hard in the near future to determine who was truly an innocent (and who was a sophisticated debtor). No, I don't believe I invented the term.

Much of the "precedent" for our newly enacted FB laws will be contingent on:

Is this your first home purchase? No?

Is this the first time you've used a NAAVLP? No?

Do you own more than one property? Yes?

You're screwed. Next case.

George,

Good article.

The way I see it, if you give your parents money, they need to give you a share of control over their budget - at least enough to see that your money doesn't get wasted and hopefully enough to control their total budget so they can live within their means.

It's not as if parents would go absolutely destitute in this society anyways. There's tons of subsidized over 62 housing affordable on social security. That's not a lifestyle that gives access to whirlwind vacations or golf everyday, but if the spendthrift parents wanted that, they should have planned and saved for it.

I grew up in Mountain View. I still do not understand why anyone would want to live there.

Peter P,

My daughter is very sensitive to change, and I do not think she will handle a move again too well, so if I can keep her in the same school, it would help a lot. I have not located any townhouses in this area with a decent sized yard yet :-( If I wait 5 years though - the dog will no longer be here - so there won't be a problem there, but everyone likes playing outside a lot.

I grew up in Mountain View. I still do not understand why anyone would want to live there.

Google that and you will find out. :)

Claire,

Why do you want a garden for? If it's attractive landscaping then many condo complexes will probably have better landscaping than you'd achieve on your own. If it's to exercise a green thumb, there might be community garden plots or farm workshare nearby. If it's to see things grow through the seasons, might I suggest bonsai?

I wouldn't buy in BA now though, unless you can afford to lose 30-50% of the value of the house if you're forced to sell at the low point. Otherwise, there's always the risk the purchase will totally ruin your financial life.

Claire, if school is a constraint then it may be more of a problem.

lunarpark,

You know, if we could move to another state we would, but we are tied here with my husband's job at the minute. Mountain View is close to where he works (15 min drive) and the school district is okay, there could be a lot worse places to live. When we moved here, there were very few rental properties available in the whole of the surrounding area for what we could afford, and you should have see the state some of them were in when we were searching. So we ended up here.

Well, renting is not so bad anyway. Don't worry.

"Google that and you will find out."

Even Google cannot answer this question...

Actually I understand the 94040, 94043 remains a mystery.

Claire,

It was nothing personal against you - sorry if I sounded that way. I just really didn't care for growing up in Mountain View. I looked forward to my parents sending me to Ohio for the summer.

Even Google cannot answer this question…

Because Google IS the answer? ;)

Claire,

If you have only one daughter, maybe private school would be a cheaper bet than buying into a good school district at this time. Otherwise, maybe go look for a landlord who owned a property for more than 10 years and get a lease with the option to renew for at least the next 3 years. Or live in an apartment in a decent school district.

These aren't perfect alternatives, but they could be better than the alternative of being locked into an overpriced home you can't get rid of.

"Because Google IS the answer?"

Perhaps :p

Patrick.net will have as much luck in banning me as Benny and his **** Robert Cote. Besides, patrick.net admin doesn’t ...
...the_Lingus

Two years without a single banning. Now 2 in less than 7 days. As traffic on this blog grows it may become very difficult to police the Trolls.

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Astrid,

The garden if for the dog - if there's not a six foot fence, he'll take himself for a walk, if there's a garbage can next to the fence, he'll use that to get over the fence. Also, the kids just love playing outside, but I do not like the idea of "free range".

We're not going to buy at the current prices, that's why I'm a little disappointed that the house prices aren't dropping like a stone yet. I can't see how a house here is worth 4 times what it's worth in other states. And I am concerned that one day everybody else will realize this, and then the prices would drop. Or is that wishful thinking?

The garden if for the dog - if there’s not a six foot fence, he’ll take himself for a walk, if there’s a garbage can next to the fence, he’ll use that to get over the fence. Also, the kids just love playing outside, but I do not like the idea of “free range”.

However, for the money saved you can just hire someone to walk your dog. We would love to have a garden for our cats too. :(

I can’t see how a house here is worth 4 times what it’s worth in other states.

In NY, a 650 sqft studio can cost up to 2.5M.

Randy,

You didn't even ban Marinara Prime?

Claire,

Indeed! CA is not family friendly at all.

astrid,

Luckily, our landlord has owned the property for over 10 years, we've been here 3 1/2 years now, he has just put our rent up for the first time, but by $150, 7 % increase. We stretched into our rental property in the first place, so that amount is still a lot to us to have to find extra. We definitely couldn't afford private school, besides I do not think that private school actually makes much difference as long as the kids are doing okay, the important part is doing well in University.

My husband works for a start-up (not Google).

You didn’t even ban Marinara Prime?

I didn't get that honor. He was banned before the admins got banning power. It used to be only Patrick could hand down a permaban.

Randy H,

Funny! I just couldn't even begin to understand where the guy was coming from? Ben Jones IS able to make his bills running the blog, and that's great! I'm sure he could make a lot more elsewhere but he runs it of a love for the game. He, like Patrick are concerned about this housing situation and we're no more to them than Adam! I've NEVER heard Ben or Patrick interject their own beliefs and we all know what a "political lightning rod" I am! Sheesh.

You didn’t even ban Marinara Prime?

Freudian slip? How about some pasta? :)

Peter P,

But that's only true in a few outrageously overpriced downtown and midtown Manhattan locations. Most NYC housing is not nearly so expensive and there's more apartment rentals available.

NYC is also financial services dominated and those jobs tend to pay better than tech nerd jobs prevalent in BA.