patrick.net

Jimbo Says:

> A few comments back, someone said that they
> knew of someone with a 4 1/4% FRM. Let me
> just say that I find that unlikely. What is their total
> APR? They must have paid a bunch of points or
> something to get that rate.

Not a lot of people have FRMs under 5%, but quite a few people that locked their rates between March and July 2003 when rates dropped like a rock did get rates that low. The low rates are what helped so many FBs get in to homes. The yield on the 10 year treasury almost went below 3% in June 2003 and LIBOR was below 2% for most of 2002-04. P.S. I locked the rate on a 10 year fixed rate apartment loan in the summer of 2003 with all in rate (just) under 4.25%...

Somebody wrote on here why they "hate (somebody) so much".

Panic buying to "get in before (prices, loan rates) go up" is a (self-destructive) emotional reaction.

So is hate.

Wow, so it was possible. That was right about the time we purchased, March 2003.

Cheap money could still extend this out quite a bit. I don't really see any big impetus to drive rates up, but increased lender scrutiny of marginal homebuyers could have the same effect, at least on the bottom end of the market.

Haha, where did you get your number that 1/4 of the mortgages in Vallejo are in foreclosure? That numbers seems hard to believe to me. Is it just a "projected" number? If so, what is your source?

Probably Myer-Briggs. Too much time thinking about Friday Night Lights and very little time thinking about personality tests...

PS - anyone else here upgrade to Vista? I just bought a laptop loaded with Vista (because I recently spilled juice on my old laptop and killed it) and I'm not at all impressed. It seems to run very slowly.

I may return this laptop and get myself a Linux machine.

PS - anyone else here upgrade to Vista? I just bought a laptop loaded with Vista (because I recently spilled juice on my old laptop and killed it) and I’m not at all impressed. It seems to run very slowly.

I upgraded a laptop I got in 2004 with Vista. It actually boots FASTER. The other apps run just as fast.

The key is that I have 1.5 gigs of memory. If you don't have more than 1gig - uh... yeah... :(

No, I think it's 512 MB expandable to 2 gigs. I'll have to try it with a memory stick and see if that helps it run faster.

It does boot up faster.

Pitbull, kid on weekend, barely literate casanova wannabe, SHARING A BATHROOM...WTF?

Yes, of course I'd want to room with this guy. The only thing missing from the description is an interest in activites at 420 and the career choice of drummer in a garage band.

I like the Debt Relief of America, Inc. banner ad right now. "Eliminate up to 75% of your debt. Never pay back the debt that is settled!"

See, money is free. We all need to loosen up our spending and borrowing so that we can keep the U.S. economy clipping along at its current rate of growth. And if you borrow too much, just settle the debt and get out of jail free!

No, I think it’s 512 MB expandable to 2 gigs. I’ll have to try it with a memory stick and see if that helps it run faster.

Yes, you definitely want at least 1 gig of RAM. What kind of memory stick do you have?

Just remember, and tell yourself while you look into the mirror, "I am a baller", tell yourself this each and every day, when you drive your Hyundai, "I'm a baller", when you pay over 1/2 of your monthly take home pay towards a I/O mortgage, "I'm a baller", when you pay your rent with a credit card check, "I'm a baller", when you wonder why that 60" plasma didn't make you happy after all, "I'm a baller".

On second thought, just go fuck yourself.

Why the fuck not?

tinyurl.com/2bhmso

Actually, memory sticks can make Vista run faster. It's called ReadyBoost.

It really really really helps computers with only 512 MB according to the reports I've read.

Looks like time to shop for a memory upgrade for the laptop.

I did run it with memory stick (pretty sure it's just a conventional mass storage device) and it really seems to help things run a bit faster and smoother.

Peter P,

I just have a Memorex 512 MB stick I bought about three years ago.

Yeah, you need a memory upgrade instead. 512MB is marginal even for XP.

Myer-Briggs is INTJ and ENFP and all that stuff. Based on Jungian constructs, never been validated on a population as constructs, full of binary opposites in execution, and much beloved of HR types...

astrid,

Peter P is correct, 512 MB is indeed marginal for XP.

I have just finished loading a couple of old boxes with XP Pro and Office 2003 for use as breakdown spares. CPU's are identical (AMD 1.3 Celerons, which themselves are a bit marginal). One has 512 MB and the other has 1 GB, and it's quite startling how much difference the extra memory makes.

Mind you, if you want slow I once saw a 64 MB laptop with XP loaded (an end-user decided to upgrade his software without seeking advice from the 'useless shower in IT Support', and then came bitching to us about performance).

XP actually did load and run (a bit of a surprise; 64 MB is below the Evil Empire's stated minimum), and once it was running you could do work if you could live with not-so-occasional long pauses, but it took 20-25 minutes from power-on to get the desktop. We politely suggested new hardware.

SP/eburbed,

I would imagine ReadyBoost is using the memory stick to speed up page swapping. OK as a stop-gap, but not nearly as good as getting more true memory.

Here in South-Eastern Australia, both yesterday and today (Sunday, Oz time) the Canberra and Sydney papers have had HUGE spreads on the ongoing 'rental crisis', and how it's going to push up house prices so 'buy now before you're priced out forever'.

Sigh ... :(

I remember GEOS out about the same time as Windows 3.0 (1990?), which was a pre-emptive multitasking, paged, multithreaded WYSIWYG GUI OS which ran over DOS on XT computers with 640K RAM and 20Mb hard disks, and produced near laser quality on dot matrix printers, when Windows required an AT at least and was swapped not paged. Further, installation was a no-brainer, much like XP today. For about $200 you got the OS AND a complete productivity package slightly more powerful than MS-Works. Two main differences were that many menus were multithreaded as 'tear-off' menus, so you could move around a document with the Format dialog pinned up and check the formatting as you went -- great productivity feature. No MS product does that even today. The other thing was that it would restore all your programs to their prior state when you shutdown and restarted -- docs opened at the same place you left them, etc.

A lot of it was written in assembly, and it never got much market share "for some reason". It was last being sold to African countries under a New Deal banner, which failed. Think a GEOS kernel is being used on some smartphones...

because it was written in assembly, it took them a long time to publish a SDK. i was a mere babe in arms at university when it came out, i was ahead of my time ;)

StuckInBA Says:
Tried Mervyn Peake’s Gormenghast trilogy?
Never heard of it. Will google it.

I tried it when I was about 15. I couldn't get through it even then, found it very slow-moving and hardly worthwhile -- no Harry Potter-style stunts in it to keep the pages turning. LOTR-style fantasy doesn't work on me, I'm too hyper-real, believe it or not... ;)

ajh,

I'm not sure how much the 'rental media panic' in Oz right now is being stoked by REI interests. Not sure if it really is an issue. The SMH has run some very fair stories over time on the housing boom, I don't think they would start taking payola to run rental panic stories if there wasn't a shortage. I don't know why there should be a shortage tho, given all the apartments that are still being built -- unless it is a ploy by developers to get people to buy those apartments in panic. I heard at one stage there was a slow net loss of people from Sydney due to high prices... I can't find any weekend articles in The (Melbourne) Age on it, the (Sydney) SMH has been breathlessly talking about it for 2 weeks now...

sorry, ajh, meant to say, what's your take on it? all through alexandria in sydney, new residential blocks are going up, and meriton is still building apace -- but developers are terrified of the downturn, and RE sales are slow... the only driver for rent increases is really the specuvestors who paid too much, and are looking to raise rents to cover losses -- and the fact that gen X, Y and Z are being locked out of housing by high prices forcing them to remain as renters indefinitely... this changes the whole % of ownership terrain...

@ Jimbo,

I mentioned a friend with a 15 year fixed at 4 5/8%. That was a conforming loan with no points. He nailed the low in rates!

Paul

Muggy,

When I was handed the check at the closing of the sale of our house 1 1/2 years ago I said to everyone in the room "the next time I buy a house I'll pay cash"

Paul

astrid:

No, I think it’s 512 MB expandable to 2 gigs. I’ll have to try it with a memory stick and see if that helps it run faster.

This may answer your question.

Thanks to everybody for answering my Vista related questions. I guess I'm surprised that Toshiba sold a 514 MB computer preloaded with Vista even though it is apparently way under the requirement for good performance. The memory stick work around seems to help for now so I'll probably hold off on upgrading for a few month. I'm still thinking about returning this laptop and grabbing one of the last XP loaded notebooks.

I start today..... as I start every day. With nothing.

You see, (like most of us) I don't have a "pre-inheritance" to manage. So... I roll up my sleeves, get my hands dirty and start cold calling. In ways, it's the only thing I truly know. Even the slightest lack of faith, a second's indecision, a weak moment will kill you. You're DOA and the rest of the call is just so much socializing. You're not gonna get paid. Nada. Next call.

FAB, you're out of line. Telling some UCB grad. that if they "don't have a strong connection to the BA they might as well throw in the towel" is totally out of line. You DO have a strong connection to the BA. Good for you. But take away that "connection" and whadda ya' got? It must be "cushy" to wake up every morning and KNOW you'll be a zillionaire no matter how much you screw up.

Tomorrow, I'll wake up with nothing, other than what I make that day. Somehow, I always pull it out. I like it that way. If it wasn't for what you've inherited, what would you have? No, seriously?

I've always valued your contributions but your version of "American Royalty" just gotta stop. Fair enough?

DinOR,

I think FAB gave pretty good advice overall, even if his views are skewed by his moneyed perspective. I guess he might throw in the towel if he doesn't have those things, but his comments shouldn't prevent the rest of us from trying.

Reading FAB's comments is a bit like reading the New York Times lifestyle section - every number comes with an extra zero or two.

I think my boyfriend used to pay rent with his 3% cashback card, he paid it off every month though.

DinOR Says:

> You see, (like most of us) I don’t have a “pre-inheritance”
> to manage.

I don’t spends much time thinking about managing an inheritance since if my Mom dies in her late 90’s like most of the women in her family (who were not nearly as healthy as she is) I’ll be inheriting a lot of money in my mid 70’s (I probably will not have a lot of time to spend it since if I do make it to my mid 70’s I will have already outlived half the men in America and most of my Dad’s male relatives)…

> So… I roll up my sleeves, get my hands dirty
> and start cold calling. In ways, it’s the only thing I truly know.
> Even the slightest lack of faith, a second’s indecision, a weak
> moment will kill you. You’re DOA and the rest of the call is just
> so much socializing. You’re not gonna get paid. Nada. Next call.

I think that DinOR will be surprised to find out that on many Monday’s my hands still have some dirt under the fingernails (from working all weekend) when I get to the office and start cold calling to try and make money…

> FAB, you’re out of line. Telling some UCB grad. that if they
> “don’t have a strong connection to the BA they might as well
> throw in the towel” is totally out of line.

I didn’t mean to sound like I was telling anyone to “throw in the towel” I was just pointing out that there are a lot of other nice places (including places in NJ and CT) near big cities with plenty of jobs and nice people where it costs a lot less to live than it does here in SF BA.

> You DO have a strong connection to the BA. Good for you.
> But take away that “connection” and whadda ya’ got? It must
> be “cushy” to wake up every morning and KNOW you’ll be a
> zillionaire no matter how much you screw up.

My connection to the Bay Area has nothing to do with money and has to do with a large number of family and friends that live here ranging from cops to priests and carpenters to CEOs.

> Tomorrow, I’ll wake up with nothing, other than what I make
> that day. Somehow, I always pull it out. I like it that way.
> If it wasn’t for what you’ve inherited, what would you have?
> No, seriously?

I have not “inherited” a single penny from anyone ever and I’ve been living my life knowing that there is a chance I may never inherit a penny. My parents (who never finished college) were mad at me for joining a fraternity (since they thought that it was just a drinking club and would hurt my grades) and told me they would stop paying for college if I didn’t quit. I didn’t quit (since I was making enough as a part time property manager and maintenance guy to support myself) and have not taken a penny from my parents since I was a teenager.

> I’ve always valued your contributions but your version
> of “American Royalty” just gotta stop. Fair enough?

When my grandfather moved in with us after a stroke my parents had the rent from his nice big house in SF and were able to move to a big house in a real nice area where I met the real “American Royalty” (I used to carry their golf clubs and listen to them talk about their other “clubs” like Cypress, SFCG, SFYC, PU, Bohemian, SCP and others)…

astrid Says:

> Reading FAB’s comments is a bit like reading the New
> York Times lifestyle section - every number comes
> with an extra zero or two.

OK, I’ll admit how rich I am since I when I bought a couple 4GB SD chips for my Treo and Camera last year I paid just over $100 each on eBay and they are now down to under $50 on eBay (there’s that extra zero)…

P.S. It really does make sense to buy as much RAM as you can fit in your computer so you don’t have to deal with Windows running slowly. In this past this cost a lot of money but RAM is relatively cheap now…

Muggy Says:

> Is there a reason why I shouldn’t pay cash for a home?

Yes

For most people with taxable income and home loans where they can write off all the interest they will be much better off with some debt since any appreciation in the home will be leveraged and most people can invest the cash in a risk free investment that returns more than their after tax cost of borrowing (liquidity is another reason to have some debt since you can cash a CD tomorrow and it may take months to sell a home)…

FAB,

Hmmm, I'm pretty sure I can't use SD chips to upgrade my computer. I saw price quotes of about $120 for a 1 gig RAM upgrade, so upgrading my computer will cost me about $200 - quite a lot since my computer only costs $1,200. I'm hoping a short wait will lower the price once the first wave of Vista induced RAM upgrades pass.

I have other reservations about my computer and Vista. I bought a 12 inch for mobility but now I find that it's not much smaller in physical stature but comes with an uncomfortably small screen. The battery life was also much shorter than I hoped for (bought it on costco.com and it didn't list all the specs). I could upgrade, but once again, I don't want to spend much more on a $1,200 computer.

As for Vista, it's just a frustrating process to look for things and figure out all the shortcuts I've grown accustomed to.

I'm likely to return my current computer and get a lower end XP loaded 14" Thinkpad for about $1,100.

HaHa,

My biggest concern is how much will the bailout of the stupidity and greed in the lending industry cost us taxpayers for the rest of our lives - and our descendants’ lives?

Keep an eye on the fully burdened cost of taxes, keep another nation's residency status (or citizenship and passport, preferably) at the ready, and leave if the cost becomes unbearable. Of course, you have to be as comfortable making a living as DinOR is, or you aren't going to make it on just expatriated savings and assets alone (unless you are clocking tens of millions). There is no way that those responsible for running up the debt will be stuck with the bill. The FB's will turn in the keys and walk away (the IRS will tax them on the forgiven portion, at least), the originators and the enabling appraisers have long since evaporated, and the underwriters and MBS holders will extort Congress with the threat of devastating economic collapse unless they're bailed out with taxpayer funds. And everyone else in the world will refuse to pull the plug on the dollar's reserve currency status for fear of collapsing their own export-dependent house of cards. It's bad now, but it has to get orders of magnitude worse before debtors will have to face the music they wrote.

In the meantime, those of us who are prudent will be stuck with the bill, unless we have made plans ahead of time to not be around (whether fiscally and/or physically) when the bill is presented.

FAB,

(From previous thread)

"P.P.S My Dad joked that he plans to hire a "food taster" (like the medievel kings had to avoid poisoning) in 2010".

I may have totally misunderstood the meanings and nature of your posts but when put together perhaps you can see how I might have gotten that impression.

I'm sure someone could dredge up some of my old posts and contort them to mean just about anything. I hope no one got the impression that was my intent. Guys like Chris Gardner and Larry Ellison are not a dime a dozen. Most of us will likely never attain the levels of success we think should (but that doesn't mean we just give up). What kind of world would that be?

Maybe it's just part of being a parent but unless my kids were into dope or smut what can you do with young people except support them!?! No matter HOW many times their "dream" changes.

apostasy,

Now I'd love to believe that the IRS would be billing these borrowers for "debt not paid" but there's already such an outcry on CH it's just silly! Never before have I seen an interest group get their beefs aired and "fast tracked" like this?

Perhaps at first there will be harsh consequences but as defaulters swell into larger numbers...... they'll walk. Besides I "thought" it was up to the lender to 1099 these guys? Either way, dealing with all the negative equity will be a PITA.

FAB, you’re out of line. Telling some UCB grad. that if they “don’t have a strong connection to the BA they might as well throw in the towel” is totally out of line.

I don't know, unless you really have an affinity to here, I am not sure it is worth it to stick around. You have to decide if a decade or more of living in a lower standard of living is worth it.

It is not really that hard to make $100k here mid career. If you are smart and hard working you should be able to afford half of that home mortgage by the time you are in your mid-30s. Then you just need to find a wife you can hold up her half and you will be set. It is a lot harder to make $200k, at least right now. And even with $200k, you would currently only be able to buy a pretty modest home in a nice neighborhood. So you have to adjust your expectations accordingly.

So you have to decide if it is worth it to scrimp and save every penny for a decade and life like a college student to be able to buy a home. The Bay Area and in fact all of California has deliberately made it hard on newcomers to the state. The Bay Area is especially bad. You *can* show up here with nothing and end up a home owner and successful, but the bar is higher here and the competition tougher.