2020 Jan 27, 10:55pm
955 views 17 comments
Anyone who buys is instantly at least 6% underwater on the first day of ownership, because he cannot sell to a greater fool for a higher amount to cover the 6% commission extracted by the realtor mafia.
I think people understand leverage dude.Almost noone looks at their house downpayment as something they need back anytime in next 5 years. If they do, they're likely fucked.
He works at FB....He’s underwater now by around 5-10%
I've considered buying a large boat and living on it to avoid property tax. Granted, you then have slip/marina fees - unless you live off the hook in a bay in which it's free. Tempting.
Discussions like this are where I miss IWOG.
If you look at "global" real estate by city, I don't see SF even in the top 10. Shanghai, Singapore, London, Paris - all more expensive for total cost of living. Question is if/when SF will be in the elite list of global cities which seem to be immune from any downward price push. https://www.weforum.org/agenda/2019/03/the-worlds-most-expensive-places-to-own-a-home/ Discussions like this are where I miss IWOG.