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PAR,
A. Yes, you were stupid for not buying a $2m in 1995.
Q. Other than having had three wives, how does Rudy Giuliani differ from Gavin Newsome?
http://youtube.com/watch?v=RVBtPIrEleM&mode=related&search=
New thread.
Revisiting “Bailout ?â€
http://patrick.net/wp/?p=416
Dear JBR,
Last year my wife and I made the wise decision to secure our retirements and financial freedom by investing in a 20,000 sft slice of the Uh-merikan Dreamâ„¢ --and at 2% off list price!! Well... technically, Suzanne made the decision for us, but that's another story. Anyway, lately, we've noticed that there are a lot of vacant homes just like ours (it's a gated/walled development in an L.A. community that our developer has assured us has "lots of potential" and is "in the process of gentrification"). Also, we've asked around and discovered that a lot of our neighbors are not even owners --they're renting!! There are some pretty weird people too. When we tell them what we paid for our home, they usually break out in uncontrollable giggles. Most of those people don't even own a Hummer, RV or even a small boat (can you believe it??).
Oh, almost forgot to ask my questions --here ya go:
Q: Is renting contagious and can you catch it from casual contact? Is it sexually communicable? (Not that we'd ever consider having sex with such people, just curious.)
HARM,
A. Renting (aka 'intelligent financial decision in over heated market') can be acquired, but not extremely easily. In order to acquire 'renting' one might have to do such things as read several different newspapers and financial journals, read and understand history, look at past economic trends, and use logic and common sense in decision making.
Fell free to enjoy you beautiful owner occupied home. You are only spending 3x what the renter neighbors are spending to enjoy the fruits of ownership.
@SFWoman,
Thanks for the response, but I don't understand this statement:
Feel free to enjoy you beautiful owner occupied home. You are only spending 3x what the renter neighbors are spending to enjoy the fruits of ownership.
How can this be true when renting = "throwing your money away"? Doesn't our mortgage interest deduction and Pride of Loanownership more than make up for any cost differential?
sfbubblebuyer
2007 Mar 12, 5:12am
Q: How long before it hits the bay area?
It has hit the Bay Area, but only just. The burbs are falling, but people believe the 'core' areas are so prime they'll withstand the crash.
I think Aug-Oct, 2007 is when the BA realizes it really is in a RE recession.
Q: How do you avoid fistfights with friends who have recently purchased or are currently in the process of buying?
Q: How long before it hits the bay area?
A: It has - read this while looking for rental properties in Mountain View - what a deal - not!
“my house is currently on the market for sale, because the housing market
is very slow right now, and I haven’t found a buyer yet, so I put it for rent;
if you rent my house, you also agree that you will let my agent show
the house to protential buyer when it needed.
asking $2300.00/mth +deposit+ credit check. â€
Encouraging to know that Mountain View IS being affected and we ARE NOT special!
Q: Do you think that all the houses that have just gone pending on the MLS will loose their funding and go back on the market?
sfbubblebuyer
2007 Mar 12, 5:31am
Q: Do you think that all the houses that have just gone pending on the MLS will loose their funding and go back on the market?
Good question. Probably not ALL of them. If my wife and I had offered and been accepted on one of those, we'd almost certainly get our funding, and I'm sure there are other gainfully employed people with downpayments buying right now with 20+% down and enough salary to actually afford the overpriced crapboxes. A better question is... what percentage of accepted offers are going to lose funding before close?
I'm guessing 20%, and it will peak in August at 45%, and start falling precipitously in September, mainly because very few subprime loans will even be submitted for approval by lenders. Then we'll get down to 5-10% through Q1 2008 as lenders finish their 'tightening' in the Alt-A and Prime markets.
Q: How worried are you that whatever the government does to 'bail' the industry will hit the JBRs for a goodly precentage of their saved cash, through stock/inflation/tax/etc? (say, more than 5%)?
Q: How worried are you that whatever the government does to ‘bail’ the industry will hit the JBRs for a goodly precentage of their saved cash, through stock/inflation/tax/etc? (say, more than 5%)?
VERY worried. See next thread.
This thread is now closed. Thank you all for your great response.
I'll save "Ask a FB" for another lazy weekend.
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This is a creative writing thread. All posts should be treated as entertainment and do not constitute advice.
Every post here (except for for this one) will answer the previous post's question and ask one new question. You can also post on other topics IN ADDITION to the one answer and one question format.
Sample Q: Dear JBR: Help! My mortgage payment just jumped from $2,000/month to $6,000/month, what should I do? -- Dangerously ARMed
Sample A: You should sell blood. And bury ten St. Joseph statutes. And eat lots of ramen.
Q: Dear JBR: My wife just quit her receptionist position to sell Amway products. How do I deduct for home office space? -- Deduction Minded
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