by astrid follow (0)
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"instead of playing the bubble sitting game"
Close your eyes... The date is 03/01/2008. The market is down 32% from it's all time high in 2005. You're standing in a line to challenge your now outrageously fluffed up property tax bill and the line to the county tax assesor's office is down the block and around the corner.
Your funny money paper "gains" have evaporated completely and while you harbor little hope of getting your ridiculous tax bill reduced you are now just looking forward to "getting inside the building". Damn it's cold out here. :(
Doug H,
Surprisingly, that's how most Chinese people view the situation. I've always viewed Taiwan as a soverign nation, but that's because I believe in self determination - esp. democratic self determination - for any people wishing it. I feel the same way about Tibet, but it's not a popular opinion.
I don't know if it's verboten to respond to theotherside on this board, but who goes.
"Your dream house in your dream school district is for sale and you can really really easily afford it… what do you do?"
Implicit in your hypothetical example is that rental yields are close to purchasing costs, and prices overall are near or below their long-term trend. Therefore, I buy the house.
"If you choose 1, you are in the same boat as current owners who bought a long time ago, have plenty of funny paper equity and decided to sit tight in their house instead of playing the bubble sitting game"
No, this is incorrect. Right now owners are at the peak. In your hypothetical example I would be at least 22% off-peak. Potential losses are reduced by at least 22%.
"So ask yourself, are you really going to choose choice 1 above or have you been recently been thinking hard about getting back into the S&P500 now that all records have been broken…"
Yes, I will choose #1. With regards to the stock market, I dollar-cost invest across time. I don't "get back in" to the market at all, as I have never left it.
theotherside: in my opinion your post sets up a straw-man argument.
With regards to good schoold district - I just want my kids to go to a school where they don't have to worry about wearing certain colors incase they get mistaken for gang members and attacked by another gang!
"Isn’t it a rather popular opinion among the people of Tibet?"
Perhaps amongst Tibetans, though they are unlikely to share their opinions with a Han Chinese. Furthermore, similar to Russian settlements in the Soviet Central Asia republics, mass Han Chinese migration into Tibet (and the Muslim far west and Inner Mongolia) is really diluting the local population. A lot of Tibetans are now minorities on their own ancestral lands.
I'm shutting this thread down to prevent more spam (stuck in moderation, thankfully). Thank you all for participating.
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Home buyers frequently cite the mortgage deduction as one of the primary reasons for home ownership. Do you think this is a reasonable argument? Do you think additional considerations such as interest rate and pricing would affect the validity of the argument and if so, in what direction?
Secondly, many here have argued that Prop 13 and the $250,000 per person per home appreciation exemption played a much greater role in fueling the current housing bubble. Do you agree?
Your thoughts on the AMT? Was it created by the devil? Has it asked for your first born? Did the AMT invent granite countertops?
#housing