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Robber Baron Elite Scum says

carolinefpf says

I will live off the ever increasing rents that my renters will pay.

Before it was that homes will always go up. Now the mantra is rent will always go up. You sheeple are so foolish it's comedy.

Rental markets will also crash in time.

Member of Banking Aristocracy

Not in the Bay Area they won't. There's too much money already here and too many Asians bringing in even more.

This isn't the east coast. It's almost a different country.

carolinefpf says

You wouldn't rent a car long term so why rent a house? Cars need repairs and loose value and untimately end up on the junkyard. Perhaps, we should all rent cars just to avoid responsibility?

Some people do "rent" cars long term. It's called "leasing." For some people, it's the more sensible option. Plenty of perfectly sane, sensible, rational people rent cars for long term.

I don't think anyone on this forum is saying it's always better to rent. It's just that in many areas it's cheaper to rent than buy. Patrick has a "rent vs. buy" calculator to determine which is the better option, given certain assumptions.

rootvg says

Not in the Bay Area they won't. There's too much money already... It's almost a different country.

I really think this is true. There are so many people in the bay area that have dual 6 figure incomes that scoop up $800k+ houses like they are nothing making no reason for sellers to lower their prices. In the

Sorry last post got cut off with an HTML character.

rootvg says

Not in the Bay Area they won't. There's too much money already... It's almost a different country.

I really think this is true. There are so many people in the bay area that have dual 6 figure incomes that scoop up $800k+ houses like they are nothing making no reason for sellers to lower their prices. In the less than $800k prices there has been more price reductions (the house I sold in 2006 for $700k is worth less now than when I bought it in 2000). The traditional family middle income buy a house, raise a family in the bay area is dead because of all the tech jobs here! Most families in the newer generations have both parents working to "get ahead" but I believe this inadvertently gave them more buying power which eventually brought prices up and also keep houses in the middle-high to high income areas from dropping much if at all.

carolinefpf says

You just sound rude and angry, if you hate the idea of buying a house then why do you read and post on forums like this.

You just sound gullible, ignorant and naive. If you hate the idea of the of housing market being torn a new hole, then why do YOU read and post on forums like this.

After all my dear, this forum is about exposing the realtards unethical behavior and the misconceptions about the housing market.

It's about informing buyers from misinformation, propaganda & fraud in the housing market.

When you post misinformation, don't expect to get away with it on this forum.

carolinefpf says

Interestingly, the real estate that agents post on forums do not contain rude, rants containing profanity.

Rants? More like corrections on your very misinformed thinking. You can't counter them so you try to label them as "rude rants".

If you can't back it up when someone counter argues them, then don't put it out in the first place.

But what does this have to do with real estate agents not being "rude" and "profane" which automatically deems them morally superior or as good people?

I'm sure Bernie Madoff was also very polite to his prospective suckers. What point are you trying to make?

carolinefpf says

I am just saying that rather than being "a sheep" in the opposite direction since housing is in a downward cycle consider that perhaps it is a good time to buy.

Only sheep think that it's the the bottom.

carolinefpf says

The sheep bought houses in the bubble years but the bubble has popped and now you can buy at 20% of peak pricing in some areas.

The bubble has nowhere near popped. So what if I can buy 20-30% of peak? Housing went up 3-4 times more than it should have from one of it's lowest prices in a extremely short period of time. 20-30% off from peak is NOTHING.

carolinefpf says

Don't get locked in to one way of thinking and miss possible opportunity. Or perhaps that is why you are so angry.

Now you are making financial assumptions about someone you don't know.

That's a personal insult you are making because none of the counter arguments I made you can actually address. So you resort to personal insults based upon speculating that they are true...

Which in fact they are not. I'm a cash buyer... And can buy immediately. But guess what? I don't want too.

carolinefpf says

You wouldn't rent a car long term so why rent a house? Cars need repairs and loose value and untimately end up on the junkyard. Perhaps, we should all rent cars just to avoid responsibility?

Plenty of people rent cars long term to avoid exactly what you described.

But that's besides the point, you are comparing two completely different things that are made completely different and for different purposes. Along with having different operating, repair and maintenance costs due to their different designed uses.

I suggest you improve your intelligence and understanding of things. It will do you good.

Robber Baron Elite Scum says

The sheep bought houses in the bubble years but the bubble has popped and now you can buy at 20% of peak pricing in some areas.

The bubble has nowhere near popped. So what if I can buy 20-30% of peak? Housing went up 3-4 times more than it should have from one of it's lowest prices in a extremely short period of time. 20-30% off from peak is NOTHING

I said 20-30% OF peak not OFF peak. For example my house that I bought for $32k formerly sold for $255k. I think it was a pretty good deal, (in three years I will have collected rent enough to reinburse me for the purchase price). My expense (the interest portion of my payment is around $1500) My house would rent for around $3000 per month. I am in California so we have proposition 13 so property tax does not increase with house values. It is about 1% per year.
Anyway, I like that house prices are decreasing and agree it was crazy in 2005 not in a good way. I also think that it is good for those people who bought with no money down to have to leave the houses that they bought. Not that I would wish that upon anyone but I think most of them are relieved when it is finally over. Markets are cyclical they go up and they go down. Houses will go up again in the "bubble of 2025" someone said. People forget. I bought my first house in 1996 towards the end of the last housing downturn. I am glad I didn't listen to the naysayers (sheep as you call them)then. Sold in 2006 (glad i didn't listen to the sheep then). I have been buying,leasing and selling houses (quite successfully I may add) since 1996, how many personal transactions are your opinions based upon? And seriously renting or leasing a car is very foolish financially unless you would repeatedly buy new cars (which is also foolish)

Robber Baron Elite Scum says

I suggest you improve your intelligence and understanding of things. It will do you good.

Anyway, keep your money in your pillowcase. Let me know when prices have bottomed since you have your finger on the pulse of the market. Keep us informed!!

carolinefpf says

Anyway, keep your money in your pillowcase.

Always better and safer than in the bank.

carolinefpf says

I said 20-30% OF peak not OFF peak. For example my house that I bought for $32k formerly sold for $255k.

You will never get that price in New York. Especially in places such as Long Island or Manhattan.

Clearly you are talking about a different area. carolinefpf says

And seriously renting or leasing a car is very foolish financially unless you would repeatedly buy new cars (which is also foolish)

Wow. I never even said renting cars was financially prudent or smart. You really need cut it out with your nonsense.

carolinefpf says

how many personal transactions are your opinions based upon?

Bought a home in 1994 for $100,000 fully paid. Sold in 2005 for $450,000.

Bought a home in 2004 for $710,000 fully paid. Sold the home in 2009 for $699,000.

The price I bought for in 2005 was a underground deal. The home didn't need any work and was in perfect condition. It was a deal the average buyer would have never been able to get.

And I didn't put any work into it which would explain close to no loss from selling in 2009.

PS. Lose the attitude.