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"Err… perhaps because not enough people moved in to oppose new projects yet?"
OK you wasted enough of my time... I see your an idiot!!!!
Randy H,
TIME OUT! TIME OUT!
O.K, let's settle this once and for all! "theotherside" can be become "The Minister of Finance" over at Second Life and live happily ever after! (in fantasyland). :)
If you dont know about these things Im not going to rewite the history of MSFT monoplitic practice over the past decades. Do you expect that!
Still. It is hard to image what would have happened without DOS and Windows. Technically superior products are useless if they do not sell.
You must be really young!!!
I wish.
Peter P-
skibum is correct, my confusion lies in the long term expectation for inflation beating performance in RE. It takes skilled intervention to manage any asset portfolio to outperform inflation, an area I fully admit my own woeful incompetence. But RE seems to exist outside this realm, at least in many otherwise well educated minds. As I see it that's the only rational basis for a huge chunk of the mortgage industry and the "climbing the RE ladder" mentality.
As I see it that’s the only rational basis for a huge chunk of the mortgage industry and the “climbing the RE ladder†mentality.
Also, until recently, homes are long-term assets. People were able to visualize the absolute appreciation of their homes. They can see huge gains in home equity with apparently no work.
Although we’ve kidded about picking up everything from Harley’s to jet skis on ebay I don’t believe this will lessen the demand for “new goods†much at all. These are “tainted goodsâ€. Bought with “free money†and neglected almost as much as the shoddy homes that originally “facilitated†their purchase.
The people (real financial heros) that have been buying up consumer goods with the "free money" are the people who mostly make up the people buying the "new goods"; Thus driving the economy. Now that the "free money" is no longer there and many of these people are going to try to resell those "Equity Distressed Assets" (EDA's as I call them) to help them through their financial bind. Just the fact that they are no longer buying new stuff because of their situation is already lessening demand for the "new goods"; In addition to that, many people who are not in financial distress (aka. renters), may want to get some of those EDA's for half of what they would cost brand new (Depending on like you say, what shape they are in); Further reducing the demand for "new goods".
Speaking of Harley's, according to Roubini, many hogs have been purchased with subprime loans that are also going bad, I would imagine the same would be true for jetski's and such; You don't have to be a homedebtor to be a FB.
Refering to Patricks link, I wouldn't buy the piano. :lol:
Who was it that once described a home as "a high maint. long term depreciating asset off-set only by it's utility function"? :)
But… Peter P will be dabbling in owning a chain of sushi bars and astrid will manage an interplanetary seed exchange.
I like that future! :)
allah,
Spot on! In addition to the normal depreciation inflicted by the simple act of driving it off the showroom floor we need to calculate FB's burn rate to foreclosure, decline in median for your ZIP, absorbing "the glut" in the market for Harleys and then factor in neglect on top of normal wear and tear!
Meaning I can (generously) "give" you a two months reprieve on your mortgage OR 5K (whichever is the lesser). :)
Space_Acer,
We love ya' like a brother but in truth... we just don't get that emotional about software here. Well, I don't intend to speak for others so if you like getting emotional about it? Don't let ME stop you.
Space_Acer Says:
Had we not had a “Computer Revolution†back in the 1980s in SV (Silicon Valley) I doubt we would even be talking about this. We would still be sitting in a orchard field which is a low margin business and seen land prices been flat since 1950s. There would be no demand for land here … there was no reason…
_____
How about the weather? Good weather would have boosted prices a bit.
How about the Great Pumpking patches off Santa Teresa Blvd., where the Great Pumpkin would appear to Charlie Brown every year?
What about all the great punkin pie you could 'uv made? & the Porkypines and Hamsters roaming around the foothills & stuff & junk & what not?
It is fine to be emotional about software. It is also fine to call me an idiot. I am not emotional about it. :)
:)
Just frustrates me, because folks like tOs drop late into every 3rd thread and spit out the same crap over and over. But it's well formed enough so that, if taken in isolation, it sure sounds credible to any new readers.
Maybe we need one of those "click on the name and see all their previous comments" functions here. Want to see tOs' cut & paste calculations, then looky here!
Ah well. Send 'er off to cartoon real estate land. I hear there's a huge bubble in progress there.
There are bigger fish to fry.
Can we grill the fish instead? I heard it is more heart-healthy.
"click on the name and see all their previous comments"
Now THAT would be a waste of perfectly good technology!
newsfreak,
If you were to click on the Central Bank Policy Rates link you'd see that from JAN '05 to today their (Icelandic) short term rate has gone from 8.25% to 14.25%. Most folks would consider that downright slick.
I work in retail at the moment,
and I luvvvv capitalism,
that place where the consumer and the product intersect
and there is a sale,
a happy face.
I agree with you.
Peter P Says:
> SF is a self-proclaimed liberal city. Can someone tell
> me why it is so adverse to changes (e.g. redevelopment,
> demolition, etc)? I thought liberals are supposed to
> be open-minded.
Liberals only like some kind of change for example they would support the demolition of a big single family home to build a homeless shelter (with bonus points if a white family lived in the home and the shelter was financed with a tax on homes in the city over 5,000 sf and double bonus points if all the homeless people were gay minority drug addicts with AIDS).
Liberals would not support the demolition of a drug and gang infested housing project by a for profit developer who agreed to house the same number of people in a nice new development that would be built without a penny of public money (if the city would give developers density bonuses they could house double the number of people we have in public housing today for free that would be financed by the rent and sale of market rate units on the sites).
the market is more difficult to understand when it comes to labor and wages.
This is because of asymmetric information. We can empower ourselves by knowing more.
DinOR Says:
> Who was it that once described a home as
> “a high maint. long term depreciating asset off-
> set only by it’s utility function�
Last time I remember us talking about “high maint. long term depreciating assets†was when SFWoman was explaining what a “Bowling Trophy Wife†was…
"SFWoman was explaining what a "Bowling Trophy" Wife was..." LOL!
Now that you mention it, the outcomes of both seem inevitable!
I guess the big difference is the BTW doesn't come complete with a mortgage int. deduction. :(
DinOR,
How about those Harley EDA's?
They don't look in too bad condition either; Just have to wait for the prices to drop some more.
Holiday Asked...
"How about the weather? Good weather would have boosted prices a bit."
For a peach! sure it would. We had great weather in the central valley for decades, prices were still down. I sure didnt see any inflation above med prices 2-3x med income.
SocketSite has a forum. Low volume so far but could be interesting place to monitor exchanges among prospective BA buyers & sellers.
Motorcycles get 50 miles/ gal.
Perhaps we should be Wild Housing Hogs.
Bicycles get even more. :)
OFFTOPIC: I posted a comment a while ago and now I look and it says "Awaiting moderation". Why? I sporadically comment here and have always been nice. Never insulting. Never trolling. You can look at all my previous comments.
I don't understand.
SG, did your post contain two or more links? Did it contain one of the banned words like "sociali$m" (I believe it is "ciali$" that we wanted to block)?
theotherside Says:
> How much do you think that that house bought in
> 1977 for $53,500 would cost today in 2007?
Depends on where it is:
Woodside: $4mm
Burlingame: $1.8mm
Orlando: $425K
Cleveland: $125K
allah,
Leave it to Mr. Roubini to create the "Harley Index"! Man... that is a lot of chrome up for auction ain't it?
allah Says:
> DinOR, How about those Harley EDA’s?
Harley has some tough times ahead as their target market (Low IQ Boomers, and Closeted Homo Boomers) gets older and stops paying top dollar for the pile of crap noise makers that Harley calls motorcycles…
"Still. It is hard to image what would have happened without DOS and Windows. Technically superior products are useless if they do not sell."
Absolutely. Look what happened to the Amiga 2000, which had 4096 colors and multi-tasking while Mac was was still a black&white single tasker. The English really porked the marketing on this marvel by deliberately making it harder for 3rd party add ons (like Video Toaster).
Microsoft compares to the Model T Ford. Not the best car by any means, but the one that put America on wheels.
Microsoft compares to the Model T Ford. Not the best car by any means, but the one that put America on wheels.
And in this case, Microsoft puts a computer on every desktop. Bravo!
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http://www.time.com/time/printout/0,8816,915445,00.html
Sound familiar? Yet another story from 2005? Nope... the publication date of this article was September 12, 1977 - nearly 30 years ago.
Let's look at some other snippets from this time capsule:
Does anyone know what happened to the housing market in California after 1977? Or was the impact of Prop 13 too influential in the resulting statistics?
And finally, the social impact:
So... this was in 9/1977. Now, it's hard enough predicting what 9/2007 will be like - but what do you think September 12, 2037 will be like?
Already, both parents are working, realtors are spinning the Bay Area as a place so great that you don't need to take vacations - what's next? Will child labor make a come back? ("Monta Vista High School and Fireworks Factory #88"?) How much more special can it get here?
(Bonus points for including Peak Oil in your prediction...)
#housing