patrick.net

But hedge funds a.k.a. Vulture Capitalists have bottomless pockets to scoop up the best properties at bulk discount rates. So USA USA USA!

Vicente says

hedge funds a.k.a. Vulture Capitalists have bottomless pockets

Until the Fed stops fondling their pockets.

While many celebrate first-time buyers as necessary for the housing markets recovery, they neglect that the sellers are rarely trading up.

We focus on buyers and neglect to look as close at sellers.

In the short sale, the seller is becoming a renter or trading way down.

In a REO, the previous owner ,before the bank, was not trading up.

Vulture Capitalists are a necessary predator in the real estate food chain as they supply the rental housing to those that need it.

When the Fed turns off the tap, they will become sellers. How many of the former homeowners will then become buyers is the question.

First time home buyers not buying simply indicates future pent up demand. When the start buying prices will go through the roof.
You aint seen nuttin yet.

Oh, pleeeeease. The prices are too high. Intelligent first time buyers will sit on the sideline. It's not happening. First time buyers will return when prices get off their meth high, and not until then.

hrhjuliet says

Oh, pleeeeease. The prices are too high. Intelligent first time buyers will sit on the sideline. It's not happening. First time buyers will return when prices get off their meth high, and not until then.

Mortgage payments were and still are lower than rent. What are these first time buyers waiting for?

They are waiting for the price of the house to go down. That mortgage "technically" has to get paid back someday, and taxes on inflated purchase prices still need to be paid, home owner associations need to be paid, money set aside for repairs needs to exist and money set aside for a temporary job loss. I think real estate agents may wonder why all the buyers don't run out and buy half a million dollar fixers, but the rest of us are more sane. You are not a real estate agent, so why do you promote such risky behavior?

Call it Crazy says

hrhjuliet says

You are not a real estate agent, so why do you promote such risky behavior?

Because he's a troll....

Why is he a troll? What do you believe is a troll's purpose? Honestly, I am curious. What is your opinion on their motivations? It seems a waste of energy

hrhjuliet says

They are waiting for the price of the house to go down. That mortgage "technically" has to get paid back someday, and taxes on inflated purchase prices still need to be paid, home owner associations need to be paid, money set aside for repairs needs to exist and money set aside for a temporary job loss. I think real estate agents may wonder why all the buyers don't run out and buy half a million dollar fixers, but the rest of us are more sane. You are not a real estate agent, so why do you promote such risky behavior?

First time buyers (most other buyers too) only look at total payments when buying a house versus rent for a similar home. The cost of the home is irrelevant. With tax benefits, buying a home is a no brainer.

hrhjuliet says

Call it Crazy says

hrhjuliet says

You are not a real estate agent, so why do you promote such risky behavior?

Because he's a troll....

Why is he a troll? What do you believe is a troll's purpose? Honestly, I am curious. What is your opinion on their motivations? It seems a waste of energy

Are you gonna take opinions from someone who calls himself crazy?

Strategist says

hrhjuliet says

They are waiting for the price of the house to go down. That mortgage "technically" has to get paid back someday, and taxes on inflated purchase prices still need to be paid, home owner associations need to be paid, money set aside for repairs needs to exist and money set aside for a temporary job loss. I think real estate agents may wonder why all the buyers don't run out and buy half a million dollar fixers, but the rest of us are more sane. You are not a real estate agent, so why do you promote such risky behavior?

First time buyers (most other buyers too) only look at total payments when buying a house versus rent for a similar home. The cost of the home is irrelevant. With tax benefits, buying a home is a no brainer.

It is absolutely not irrelevant. Most people would be getting in way over their heads in this market, and possibly risking everything.

Strategist says

hrhjuliet says

Call it Crazy says

hrhjuliet says

You are not a real estate agent, so why do you promote such risky behavior?

Because he's a troll....

Why is he a troll? What do you believe is a troll's purpose? Honestly, I am curious. What is your opinion on their motivations? It seems a waste of energy

Are you gonna take opinions from someone who calls himself crazy?

I am a curious and open-minded person, and I like to hear all opinions. I also don't prejudge based on a name, especially one clearly rooted in irony.

hrhjuliet says

First time buyers (most other buyers too) only look at total payments when buying a house versus rent for a similar home. The cost of the home is irrelevant. With tax benefits, buying a home is a no brainer.

It is absolutely not irrelevant. Most people would be getting in way over their heads in this market, and possibly risking everything.

Those people would not qualify for a loan in todays ridiculously tight underwriting standards. Only the best qualify today.

Not from what I've seen, at least not here in the Bay Area. I have friends who put very little down and make less the median wage and they are qualifying for $600,000. It's cash buyers who are the most insane anyway. Why put your savings down on a half a million dollar molding fixer? If a person rents a modest home and invest in varied stocks they would be far better off. When the market goes down, then buy. No need to buy in this inflated market. It's never a good idea to buy when things are at their highest. They should save, invest and be patient.

hrhjuliet says

Oh, pleeeeease. The prices are too high. Intelligent first time buyers will sit on the sideline. It's not happening. First time buyers will return when prices get off their meth high, and not until then.

What do you expect from tumultuous blanket statments that instigate meaningless arguments that are only perpetrated to soothe manic frustration

True.

You are right, the posts are either pointless arguing or about anal sex. That still doesn't explain his motivation. I can not understand the motivation of the "trolls" if they are not real estate agents or an agency that directly benefits from this mess.

hrhjuliet says

You are right, the posts are either pointless arguing or about anal sex. That still doesn't explain his motivation. I can not understand the motivation of the "trolls" if they are not real estate agents or an agency that directly benefits from this mess.

The motivation of posting here is to just have some fun. You go through a busy day, stress, problems, you want something to release some steam in a harmless way. I kinda like everyone here......crazies, lunatics, psychopaths, serial killers, escaped convicts, weirdos, wackos, sex maniacs, perverts. Hey, it's a lot of fun.
As for anal sex and X rated stuff......Boys will be boys :)

Other than the detraction and calumny from another source !

The motivation of posting on this thread to inform others of the calamity that lies ahead

Without Them, The Housing Recovery Remains A Sham...

Strategist says

Mortgage payments were and still are lower than rent. What are these first time buyers waiting for?

No where close in coastal region of CA. You need to revisit the own vs buy math.

Strategist says

With tax benefits, buying a home is a no brainer.

You definitely don't have any idea on "tax benefits". Try your math using the (interest payment+taxes) - (standard deduction). Let's see how many pennies you get back for going through all that trouble. Oh, and try deducting the mortgage interest in the later years of the loan. "Tax benefits" = biggest home ownership fallacy in this country, which the common masses have never examined closely. Not every one is financially shrewd for a reason. Go ask bankers and WS investors.

bubblesitter says

Strategist says

Mortgage payments were and still are lower than rent. What are these first time buyers waiting for?

No where close in coastal region of CA. You need to revisit the own vs buy math.

Coastal California prices have been going up 5% per year compounded for decades. Interest rates are 4%. You really need nothing else to make a decision.
Homes are as good as free.

You're funny.

Strategist says

You really need nothing else to make a decision.

Homes are as good as free.

...and you need to examine other lucrative options that can give more than 5% return(yes, compounded!) on your money.