patrick.net

NuttBoxer says

Most people never see the next drop coming. Congrats on being most people.

And you think your opinion matters? you, on this forum decided buying didn't make sense, only to watch prices go up by 60%.... Out of curiousity, what percent increase would it take for a complete idiot like you to recognize a mistake? Now, rents are increasing, enjoy taking it up the ass for your stupidity!

$22,500 collected each month, in rent, $10,200 in mortgage+tax+insurance+HOA. (includes reducing debt by $2500 a month) SO, tell me again you moronic loser about how smart you were not to buy!!!

First rule: If a landlord would not buy it to rent out, you probably should not buy it either. Landlords generally do math pretty well and are concerned with fundamental valuations based on rents.

Second rule: If a house is being advertised, it's too expensive. Advertising is an attempt to get people to overpay for houses that the realtors themselves didn't want (they get to see all those houses first). You don't want to be the guy who paid more than anyone else would, which is the very definition of the retail buyer. You want the stealth houses that are about to come on the market because of death, divorce, bankruptcy (well, the misfortune of others). Another way to put it: if a realtor is involved, it's too late. And then you have to pay the realtors for the service of overcharging you.

Third rule: Random shit happens. Facebook might decide to locate in your neighborhood, driving prices up. Or might decide to move away, taking prices down.

rando says

You want the stealth houses that are about to come on the market because of death, divorce, bankruptcy (well, the misfortune of others). Another way to put it: if a realtor is involved, it's too late.

bullcrap. those situations almost never exist, the house gets listed anyways. It just looks like crap, and guess what? everyone wants the nice looking house, so buy the crappy looking ones and fix them up.

just an FYI for my fans who have been closely following my investment moves, i just received an appraisal report today for a refi. it says my house has gone up 35% since i bought it in dec 2012.

I'm actually in escrow right now, got a contingent offer accepted on our dream house, and managed to sell the smaller house we bought several years ago in 4 days with appointment-only showing for above asking. This is in north Orange County. A coworker in Azusa sold his large house in less than a week for well over asking. Chinese with money in that case.
The market is red hot, and going up if I have to guess.

NuttBoxer says

Tell me about my stupid decision when prices drop way below the last crash,

I'm not inclined to believe that crash will cause prices to drop below last crash. The loan standards have tightened up since last time and not seeing the same volume of arm loans, among other things

rando says

realtors themselves didn't want (they get to see all those houses first).

Only the very savvy and cunning of the lot. Most aren't that smart

NuttBoxer says

I live by a country club, and I've seen houses sitting on the market since we moved in around May. When we were driving around last weekend there was an open house sign on almost every block in our area.

bullshit, you live in south county - let's put a realistic definition on "nice area," please.

NuttBoxer says

That's highly dependent on the sector. If you're in bio-tech or SW yes. Just about anything else... All I know is I don't remember seeing homeless encampments on every bridge over the 5 downtown.

so you expect garbage collectors to by housing in nice areas? fascinating.

rando says

First rule: If a landlord would not buy it to rent out, you probably should not buy it either. Landlords generally do math pretty well and are concerned with fundamental valuations based on rents.

Second rule: If a house is being advertised, it's too expensive. Advertising is an attempt to get people to overpay for houses that the realtors themselves didn't want (they get to see all those houses first). You don't want to be the guy who paid more than anyone else would, which is the very definition of the retail buyer. You want the stealth houses that are about to come on the market because of death, divorce, bankruptcy (well, the misfortune of others). Another way to put it: if a realtor is involved, it's too late. And then you have to pay the realtors for the service of overcharging you.

Third rule: Random shit happens. Facebook might decide to locate in your neighborhood, driving prices up. Or might decide to move away, taking prices down.

first rule: health of the job market / wages
second rule: supply side / development (costs)
third rule: interest rates / politics / taxes

Sharingmyintelligencewiththedumbasses says

so buy the crappy looking ones and fix them up.

That's actually a good strategy. I knew a guy who just did that over and over as a living, doing most of the work himself and then re-selling. I think he did ok, a bit better than having a real job.

jazz music says

It sure is hard to say that a bottom will happen according to the laws of supply and demand when it seems the whole world is conspiring to keep housing prices afloat.

Now you may see devastated markets, housing and all equities, if the US national debt reaches a point to where it can no longer float higher then interest rates can no longer be held down

This is very true.

Everyone is for "supply and demand" when it's working in their favor. Then when it turns, they demand that the government directly violate supply and demand and force house prices to stop falling by whatever means necessary.

Strategist says

When they tell you to sell.

Touche, but the context of my conversation was renter/realtor.

Sharingmyintelligencewiththedumbasses says

only to watch prices go up by 60%

Inflation adjusted? Of course not, you don't even understand the concept. You also don't understand realized gains vs actual, or have the foggiest clue what liquidity is. Asset to debt ratio, not a clue as well, since your so called asset carries the largest debt of any "investment" the average consumer ever makes.

Sharingmyintelligencewiththedumbasses says

$22,500 collected each month, in rent, $10,200 in mortgage+tax+insurance+HOA. (includes reducing debt by $2500 a month)

Sources, who needs 'em when you routinely make ASSumptions about everything.

MMR says

I'm not inclined to believe that crash will cause prices to drop below last crash. The loan standards have tightened up since last time and not seeing the same volume of arm loans, among other things

My assertion is based on core economic issues that haven't changed at all(manipulation, bloated government spending, higher taxation, tons of leveraging at the federal level, an economy where leveraging is still high in general). Read Rothbard's theory on boom/bust cycles. Each bust will be bigger, and worse until the manipulating agency is destroyed, and things are allowed to self correct. So big picture, prices will go lower, and another crash is inevitable.

Compartmentalization of education has led to false assumptions about the lack of interrelation and causation in our world.

Debt is interesting, because it's all just promises of future labor by obedient workers.

So it may be possible to scientifically predict how much debt cannot be paid back. For example, debt which promises more years of work than are available when you multiply people times years.

landtof says

bullshit, you live in south county - let's put a realistic definition on "nice area," please.

Do you live in SD?

http://www.sandiegocountryclub.org/club/scripts/home/home.asp

https://www.google.com/maps/@32.6242128,-117.0624055,3a,75y,252.74h,86.82t/data=!3m6!1e1!3m4!1sT9gR_bKSKA6hoHQLTRCKXA!2e0!7i13312!8i6656

landtof says

so you expect garbage collectors to by housing in nice areas? fascinating.

You didn't say garbagemen, you said job growth, as in every sector. You exaggerated to try to sound right, and were called out on it. Take your lumps like a man, or stop posting inaccurate information.

rando says

Then it turns

These used to be called "corrections" and were allowed to play out in a recession to get rid of the deadwood, but not anymore.

NuttBoxer says

Do you live in SD?

http://www.sandiegocountryclub.org/club/scripts/home/home.asp

https://www.google.com/maps/@32.6242128,-117.0624055,3a,75y,252.74h,86.82t/data=!3m6!1e1!3m4!1sT9gR_bKSKA6hoHQLTRCKXA!2e0!7i13312!8i6656

are you fucking kidding me? you just posted south county, chula juana dude - that area SUCKS - have you any idea what a real CC is, where people live behind guarded gates?

NuttBoxer says

You didn't say garbagemen, you said job growth, as in every sector. You exaggerated to try to sound right, and were called out on it. Take your lumps like a man, or stop posting inaccurate information.

now you've really uncovered just how fucking stupid you are.

what part of
landtof says

job growth has been steady.

makes me exaggerate anything? what's even funnier is that you think you "called me out on it" when you YOU SAID biotech and software was growing (which would totally SUPPORT price increases in NICE AREAS anyway).

admit it - housing is not your strong suit. you lost out big time, and are completely unqualified to be discussing it with anyone who is contemplating a purchase. keep waiting for the "next crash" you fucking dumbass!

truth will find you says

You are right.

The bottom was years ago, when you were on this forum, and decided not to buy. EPIC STUPID DECISION!!!!!

how can anyone look at that chart and believe a word nutt boxer says about housing, after he declined to purchase in 2012?

NuttBoxer says

Most people never see the next drop coming. Congrats on being most people.

Tell me about my stupid decision when prices drop way below the last crash, and your crap-shack, that you only own the debt for, is underwater.

YOU obviously didn't see the price increase coming. Seriously, prices went up 60% since you, on this forum, decided not to buy... what percent up would it take for you to admit it was a mistake?

"congrats on being most people" - sure. EVERY mortgage I have is less than 50% of rent I collect. every. one.

It would be hard to find a more direct example of someone too stupid to recognize their own stupidity!

I am from Bay Area, so I don't know shit about San Diego. my own rule is straight forward. I do not risk my freedom for profit or the pleasure of consumption. I like one definition of wealth which says 'wealth is number of months you can live without having to work'. my wealth is about 5 years.
if buying the house extend my wealth because rent can cover expenses, the. do it. if buying shrink my wealth from say 5 years to 1 year, fuck it.
I think the reason for the entire system to keep price high and give out 30 year loans and keeps rewarding debt driven consumption in the name of investment is that the system do not want people to be free.

landtof says

are you fucking kidding me? you just posted south county, chula juana dude - that area SUCKS - have you any idea what a real CC is, where people live behind guarded gates?

You don't live here, obviously. Or you want to exaggerate nice to OC levels, rather than just good neighborhoods, nice houses, good schools, low crime. FYI, Chula Vista was, and may still be the ONLY cash positive city in SD county. Ignorant, and exaggerating, I'm beginning to see a theme in your posts.

As to the charts you posted which I can safely assume are government figures, well, we all know how accurate those are. But let's assume they are even slightly valid. The top growing industries are all low income, or government. If public sector is also the largest job sector, your economy is fucked, because government doesn't produce anything, and needs taxes in order to pay their employees. It actually looks like a trashman's salary would be an accurate barometer for your charts, in which case I'd refer you to:

landtof says

so you expect garbage collectors to by housing in nice areas? fascinating.

landtof says

how can anyone look at that chart and believe a word nutt boxer says about housing, after he declined to purchase in 2012?

You obviously never heard of a "head and shoulders" graph. Of course not. In your fantasy world charts NEVER go down!

Sharingmyintelligencewiththedumbasses says

what percent up would it take for you to admit it was a mistake?

When will you respond to any of the questions I posed to you about real vs imagined wealth? Did you even understand them?

Sharingmyintelligencewiththedumbasses says

EVERY mortgage I have is less than 50% of rent I collect. every. one.

I hope they're all paid off before rents crash along with housing. Wait, you do understand the ramifications of taking on huge sums of long term debt, and hedging it against something NEVER EVER dropping right...?

#triggered landof and sharingmyidiocy #Imtrolling

I'm guessing they're both leveraged out the ass, and have a suicide pact to break their necks by trying to suck their own tiny peckers if the market ever drops.

NuttBoxer says

When will you respond to any of the questions I posed to you about real vs imagined wealth? Did you even understand them?

Oh, the fucking broke asshole who couldn't afford to move when his lease was cancelled, without begging his landlord for some help is going to lecture???

what part of $2200 in rental income, versus $10500 in rental bills each month do you not understand?

I don't ever have to work again, you dumbfuck!

NuttBoxer says

low crime

i'm actually starting to have a really good time demonstrating how fucking clueless and full of shit you are. so let's look at chula vista's crime rate as compared to la mesa and carlsbad. uh oh, narrative fail.

truth will find you says

When will you respond to any of the questions I posed to you about real vs imagined wealth? Did you even understand them?

Oh, the fucking broke asshole who couldn't afford to move when his lease was cancelled, without begging his landlord for some help is going to lecture???

what part of $2200 in rental income, versus $10500 in rental bills each month do you not understand?

I don't ever have to work again, you dumbfuck!

#triggered truth can't find me

This was a reply to someone else, your numbers are backed by nothing, and your whole post comes off as the scatterbrained rantings of a dyslexic schizo. Do you spend all your facility alloted computer time on patnet, cuz it will NOT help your problem.

Ok dumnuttboxtard, so NOT BUYING a home in 2012 for say $250K, and a mortgage the same as your rent was a good choice...

even though that same home today is $400K and rents have gone up by 15 to 20%....

Don't worry about brain eating amoeba, if you catch one, the poor thing wills starve to death!

landtof says

uh oh, narrative fail.

Context is everything, but you're just interested in lying, and when you are called out, you run to some other point, instead of backing up your BS.

229. 1,398 Oxnard, CA / 201,744
230. 1,399 Galt, CA / 24,280
231. 1,408 Tehachapi, CA / 13,818
232. 1,408 Roseville, CA / 124,250
233. 1,412 Martinez, CA / 36,876
234. 1,419 Walnut Creek, CA / 65,923
235. 1,424 Chula Vista, CA / 253,031

314. 1,769 La Mesa, CA / 58,239
http://www.usa.com/rank/california-state--crime-index--city-rank.htm

According to your logic Oxnard is a shit city. And, Oh wait, is that LA MESA ranked almost a hundred spots LOWER than Chula Vista.

Wait, it gets better. You compared the much larger city of Chula Vista, with a reported population of 250k to a city of less than half that size(Carlsbad), and a city ONE FIFTH the size in La Mesa!!!

Any one with half a brain can see your stats are just raw numbers, not percentage, so the skew is HUGE when the population size changes. If you can't account for basic mathematics laws, how did you ever get past the "stricter" loan standards that should have prevented someone like you from ever taking on a debt you aren't capable of managing!?

truth will find you says

Ok dumnuttboxtard, so NOT BUYING a home in 2012 for say $250K, and a mortgage the same as your rent was a good choice...

even though that same home today is $400K and rents have gone up by 15 to 20%....

Again no context, and not supported.

Now let me try my hand at fantasizing. You think buying a mortgage of $400k for a home and land that realistically have a value of $175k, and will re-settle to lower than that when the economy tanks, leaving you in the red for hundreds of thousands of dollars is a good idea?

This is just an example for others, you are too #triggered to rationalize any scenario that draws you into the dick-sucking suicide pact.

NuttBoxer says

Context is everything

you are a glutton for punishment.

ok, thanks for your "data" from "usa.com" which says about itself:
The USA.com website and domain are privately owned and are not operated by or affiliated with any government or municipal authority.
The crime index value is calculated based on the data using USA.com algorithms.

wow! that sounds totally fucking legit!

yes, and i posted from the ARJIS site, which states:
Law enforcement agencies in San Diego County, including the San Diego Police Department, publish their crime statistics on ARJIS. Statistics will be updated periodically on this site.

my date range also goes up to August 2016 and a year prior. what's your date range?

NuttBoxer says

Any one with half a brain can see your stats are just raw numbers, not percentage, so the skew is HUGE when the population size changes.

LOL - the population of chula juana is 240% higher than carlsbad but the violent crime is 400% higher, and the auto theft is 500% higher... what the fuck is your point, dumbass!?

I just bought a home for $195K. It is rented for $1950 a month. I put $50K down, and my entire mortgage is $860 a month.

IF home prices dropped, I wouldn't care at all, I would simply buy more homes. Rents would have to drop by literally 50% before I'd even be in danger of just breaking even... They didn't even drop that much during the last crash, not even close!

Now, back to your case: if you seriously thought prices were in danger, you could have bought in 2012, (and your payment would likely be around 1200 a month as owner occupied, compared to my investor loans)

ZERO CHANCE IN HELL rents would ever drop below your mortgage, but I digress, you could sell your home today, and walk out with a nice tax free gain of $150,000.

You, sir, will never have $150,000 in your hands unless some relative smarter than you dies and gives it to you...

Sharingmyintelligencewiththedumbasses says

I just bought a home for $195K. It is rented for $1950 a month. I put $50K down, and my entire mortgage is $860 a month.

IF home prices dropped, I wouldn't care at all, I would simply buy more homes. Rents would have to drop by literally 50% before I'd even be in danger of just breaking even... They didn't even drop that much during the last crash, not even close!

i don't know how much clearer this can get.

you probably started this thread just to get nuttboxer spun up, you fucking dick!

landtof says

you probably started this thread just to get nuttboxer spun up, you fucking dick!

now, now there is never a reason for foul language!!!!

Please, find a more erudite and polite way to communicate! (you fucking dumdfuck!)

15c5 says

now, now there is never a reason for foul language!!!!

Please, find a more erudite and polite way to communicate! (you fucking dumdfuck!)

you're gonna hurt jazz music's feelings with that "vile, heinous" language. he may overdose tonight on account of patrick.net.

NuttBoxer says

You think buying a mortgage of $400k for a home and land that realistically have a value of $175k,

Yes, homes and land are worth what a broke loser like you thinks its worth.

I just bought a home for $195K. It is rented for $1950 a month. I put $50K down, and my entire mortgage is $860 a month.

IF home prices dropped, I wouldn't care at all, I would simply buy more homes. Rents would have to drop by literally 50% before I'd even be in danger of just breaking even... They didn't even drop that much during the last crash, not even close!

Now, back to your case: if you seriously thought prices were in danger, you could have bought in 2012, (and your payment would likely be around 1200 a month as owner occupied, compared to my investor loans)

ZERO CHANCE IN HELL rents would ever drop below your mortgage, but I digress, you could sell your home today, and walk out with a nice tax free gain of $150,000.

You, sir, will never have $150,000 in your hands unless some relative smarter than you dies and gives it to you...

NuttBoxer says

You think buying a mortgage of $400k for a home and land that realistically have a value of $175k, and will re-settle to lower than that when the economy tanks, leaving you in the red for hundreds of thousands of dollars is a good idea?

Meanwhile, prices continue to increase. You have a weird and unrealistic sense of value. OR it's just sour grapes talking.