patrick.net

egads101 says

So, when prices are up say 5% year over year this time next year, where does that leave you as far as valuable advice on here?

Which valuable advice?
It seems you're English comprehension is so poor you compensate by making up what I wrote.

Heraclitusstudent says

Which valuable advice?
It seems you're English comprehension is so poor
you compensate by making up what I wrote.

I see--you're a disciple of Call it Crazy then.

ARMaggedon delayed. Gale Rosboro of San Francisco also has an adjustable-rate mortgage that allowed her to make minimum payments that didn't cover the interest due and instead increased her principal owed. Such negative amortization loans, which tripped up many homeowners, are no longer offered.

Rosboro said her mortgage debt started at $409,000 seven years ago but because she made the minimum payments, it now has hit $609,000, while her house is worth about $650,000. The monthly amount owed has risen continuously..

egads101 says

first off, I was replying to call it crazy. His post is above mine

And in this post above yours he didn't give any advice.

egads101 says

What goes up vertically usually will come down vertically.

That is from July. It's been 3 months, how has that vertical down price prediction come along? 3 more months is it?

This is not a prediction. This is a fact of life. Empires fall, civilization decays, entropy takes over, and stars go supernovae.

Your problem is you assume everyone here is a bear.
You also assume knowing the trend for the next 2 years is relevant.
And of course you assume gloating about your past pretend deals is in anyway relevant to anyone here.
You assume way too much.

The slowdown is more steep than we typically see from September to October. Existing homes sales, mortgage applications, pending homes, both in California and across the country.

It could be no big deal and inventory continues to remain low and prices might rise another 5%. Or inventory could rise back up to where it was just a couple of years ago and prices will fall. Gotta watch this closely.

egads101 says

yes. someday something bad could happen. thanks for sharing that very important information

This is way more relevant than your gloating about past pretend deals.

egads101 says

the price change over the next 2 years doesn't matter to who?

It may matter to flippers and speculators, it doesn't for most people on the planet who buy real-estate to live in it for the long term.

egads101 says

I'd post the addresses to prove it

Ooooh PLEASE don't bore us even more with proof of something irrelevant no one cares about.

egads101 says

You know of not lying, you are just pathetic and jelaous, both on here and in real life.

Jaleous of what? Your mediocre deals?
If at least you had invested in TSLA in jan...
And even then why would I care? Give me a single why on earth I would care.

egads101 says

are you really that fucking stupid? so, you think that buying today, for 50% higher price in quite a few places, "doesn't matter if you are buying for longterm..."

Shessh.... I don't know where to start...
- first, we have to agree that the past is irrelevant. It's not actionable. Period. So stop talking about that.
- second, is your prediction that prices will be up 50% in the next few years? If so let us know, we'll have a good laugh.
- third, even assuming it is, why would that be relevant? Indeed I can quote years-places in which real-estate went up 50% and then crashed lower than it started. So your 2 years predictions would still be utterly irrelevant to a long term buyer.
- fourth, since you're talking above of "5%", it is even more irrelevant to long term housing.

So why don't you come up with something relevant to say?

Moron.

egads101 says

I suppose if all of my predictions from the past were wrong, I might try to rationalize it as irrelevant too. Except, that I am not a pathetic twit!

Yes, you are a pathetic twit with self aggrandizing self serving bias. You don't know the future. You're not an oracle. Your a pathetic moron who claims making the same bets he did years ago will work for same reasons.

Here is my RE anecdote for the day. I overheard a couple talking about a multiple bid situation. They got a call back from their RE professional; the sellers wanted them to guarantee that they would make up any shortfall in the appraisal (if the house appraised low). While they were thinking it over, an all cash offer came in that piled on even more cash and waved contingencies. And poof, the house was gone. I suppose you can read that story two ways...
Inventory in up year over year around 10% in Santa Clara and Contra Costa Counties. It's down in Marin (yikes!)

egads101 says

That is next year, Where do we end up after 5 years? 10 years?

If you made predictions for 10 years that would be interesting.
But of course you can't.

egads101 says

SO, the guy who predicted the crash, and called the bottom... And is currently up $2 million for that accuracy, that doesn't count. I assume you have a couple million laying around then, since that doesn't matter to you?

More empty bragging.
Still nothing useful to say.

Your messiah complex is pathetic. You should see a shrink about it. Really.

egads101 says

except my 4bedroom home only cost $230K, and i'm going to add a state retirement of $5500 a month to the rental income...

In other words, you live in a shit-hole and you will spend your retirement fixing toilets.

Thank you very much.

egads101 says

My girlfriend is turning 26 this winter

Let me guess: mail-order bride?

Is the oracle wealthy ?

So long inventory is less than six months still a sellers' market.

Btw, according to a chart posted by gregpfielding in another thread, is normal for inventory to rise with price increase. So inventory increase doesn't imply price would reverse soon.

Roberto claims that he profits $6,000 a month, which in internet-speak means he only profits half that amount.

all of that for the privilidge of having millions of dollars of mortgage debt hanging over his head.

think about it, this guy claims he doesnt have to work anymore yet he holds a full-time day job to pay the bills at Scottsdale community college
http://www.scottsdalecc.edu/academics/faculty/roberto-ribas

this guy is a fuckin liar and has always been

that and he lives with room mates in his primary residence

yeah, this guy must be rolling in the dough lol

Iwag says

Roberto claims that he profits $6,000 a month, which in internet-speak means he only profits half that amount.

all of that for the privilidge of having millions of dollars of mortgage debt hanging over his head.

think about it, this guy claims he doesnt have to work anymore yet he holds a full-time day job to pay the bills at Scottsdale community college

http://www.scottsdalecc.edu/academics/faculty/roberto-ribas

this guy is a fuckin liar and has always been

But isn't it great!

He owns like 100's of houses all debt free and he teaches in college and picks up on his hot barely legal college students and does them and all he has to do is give them A grades. They probably even buy him dinner too.

That is Awesome. And in a position of power... a real self-re-enforcing mechanism that feeds on it-self. Narcissism lives! That's a personality disorder ya'll should have, even if it's just to bolster your self-esteem. Don't take life so serious, have some fun!

He's got a couple of "girlfriends" with no strings attached! ...plus he's like 44. How many guys wouldn't want that?

He's even willing to sacrifice himself to all these sexless Japanese women. That is a hero putting himself in the missionary position. What he's doing may be sh--.

But frankly, all this envy makes me sick.

Just let him enjoy...

Looks great to me!

You go Speedy-G!

Don't be a Slowpoke Rodriguez!

egads101 says

The oracle will go to Japan, and bring sexy back to college women everywhere.

It is a sacrifice, but the oracle will do it for the good of the Japanese.

He is bringing sexyback....

HERO!

In America and Japan. Look-out co-eds

egads101 says

Heraclitusstudent says

egads101 says

My girlfriend is turning 26 this winter

Let me guess: mail-order bride?

nope, local blue eyed blonde haired girl. Met her salsa dancing, took her out for her 21st birthday, back when I was a young 44. the oracle has skills!

You the man!

this is expected in a healthy housing market.

going up without going down will lead to a crash.

egads101 says

Either way, it seems in your neck of the woods, inventory is still too low to stop price increases.

Inventory is way too low, but starting to trend higher. And prices have started to pull back.

Maybe it's just seasonal. Maybe not.