patrick.net
An Antidote to Corporate Media
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90
SFace
2017 Oct 11, 7:32pm
SFace
2017 Oct 11, 7:32pm
I don't even need a calculator to know someone like Patrick made multi-million dollar mistake.
Based on his discipline. He would have the home and even more stocks. You know, when you have a fixed mortgage which depreciate over the year. Savings rate. go through the roof eventually. Patrick would have had a peanut size mortgage had he bought the Berkeley place and saving like a mxfx all the same.
You know what's it like to have no mortgage and own a home in the sfba prime. Rich ass mxfx.
Based on his discipline. He would have the home and even more stocks. You know, when you have a fixed mortgage which depreciate over the year. Savings rate. go through the roof eventually. Patrick would have had a peanut size mortgage had he bought the Berkeley place and saving like a mxfx all the same.
You know what's it like to have no mortgage and own a home in the sfba prime. Rich ass mxfx.
91
Strategist
2017 Oct 11, 7:40pm
Strategist
2017 Oct 11, 7:40pm
SFace says
And where they covet now, is where they will always covet. It's as simple as that.
Price appreciates the most in places people covet.
And where they covet now, is where they will always covet. It's as simple as that.
92
SFace
2017 Oct 11, 7:51pm
SFace
2017 Oct 11, 7:51pm
I said this since 2009.
Location location location will be location location location location location.
Location location location will be location location location location location.
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I'm a little new to this site and didn't realize that Patrick was a minor celebrity. I read Patrick's profile on ABC News and the thing that caught my eye was: "In 1999, he tried to buy a house there but ended up outbid, angry and convinced the system is fixed and that real estate agents are dishonest" .. "He decided not to buy and thinks he ended up on top, even though the house has gone up nearly a half million dollars. Killelea said that even people whose homes increased in value by hundreds of thousands of dollars 'would have done better in the stock market.' "
http://abcnews.go.com/Nightline/story?id=3731415&page=1
You were spot on in 2007, but do you have any regrets about not buying in 1999?
I get it, rents were cheaper than PITI in 1999 so it was a tough choice to buy, but on the flip side if you would have taken out a 15 year mortgage you'd be a couple years short of paying it off. Or you could have refinanced a 30 year today, and I'm guessing you'd be paying substantially less in PITI than your current rent.
Just curious about your thoughts..
#housing