patrick.net

Funda Mental (who sounds like a smart guy) Says:

> My wife and I believe that the correction taking place is
> just the beginning of a long overdue drop in housing prices.

Even after reading that “bubbles are for bathtubs” in the article by the good looking 20 something that was Trump’s “apprentice” ;-) …(after reading how dumb she is I’m no longer just guessing that she slept with him to win)…

> The best idea I’ve had so far is a two-pronged strategy.
> 1) Compare cost of renting to owning and see what is
> comfortable for us to afford after tax benefits, etc.

Over the past 30 years in California the cost to “buy” (with a 20% down payment and 30 year fixed rate loan) has been a little less than the typical rent in below average areas and a little above the cost to rent in above average areas (you may also want to build a formula that norms for the “average” 30 year loan rate over a period of time).

> 2) Compare historic ratios of (A) Rents to prices and
> (B) median family incomes to prices and buy when
> these ratios are in line with historic averages.

On average the ratio of home price to household income has been in the 2.5x to 5x range for most of the past 300 (yes, Three hundred years)…

> The help I’d like is in locating a source for Ventura
> County historic data for median rents, median
> incomes, and median home prices. Does anyone know
> where I can get this data?

The best source of the data is census.gov…
There is a lot of data out there, but after a while it becomes easy to find the data you want. I like to drill down to zip code and even smaller census track areas to get the best data. Keep in mind that the income data is very good for the 80% of American’s in the “middle class”. The poorest 10% don’t report much income (or buy homes) and the top 10% (that is almost 25% of California) have complex tax situations and tend to have an AGR at the bottom of their 1040 well under their actual income…

"There are fewer people living there right now."

Well thank heaven for little blessings. Last night I overheard a radio ad that said there are over 175K illegals in OR and that would make it our "second largest city"! Isn't it true that tolerating this brand of mortgage fraud only accelerates the problem? Sorry for being behind the learning curve on this one, it's a relatively new issue for OR.

George,

Don't get me wrong, I don't have anything against working class neighborhoods. Hell, I grew up in one! It was a lot of fun and everybody knew each other.

It was also, from inception a working class neighborhood. It wasn't drug down that way one multiple family conversion at a time. We've been friends w/these folks for a long time. Dayton is an old farming community and has been for over 150 years. Town Square, the whole deal. The greed of MB's writing this paper is selling them down a river for a $1,500 comm. How could they not know what's going on here?

SQT,

You might want to tip the INS and get your unhappy neighbors to do the same. Ditto a letter writing campaign to your congressman/local officials. Now is a good time to do this. You live in a suburban area so the politicians probably won't cave to big ag quite as much.

You vote and pay taxes, damn it! And those illegals do not. Demand that officials paid with your tax dollars enforce your laws.

The greed of MB’s writing this paper is selling them down a river for a $1,500 comm. How could they not know what’s going on here?

DinOR, why do you hate Amerika? :)

DinOR,

If your friends do want to sell, they might want to do some oppo digging on the next door neighbors. If the new neighbors used a buyer's agent, maybe they could use the same person as a seller's agent (and do a 2/4 split between seller's agent and buyer's agent) so they'll sell to the same demographics.

I guess that's some sort of 3rd wave blockbusting.

(Dude, I sound like FAB. My liberal minded college friends would lynch me.)

Surfer X,

You're right. What was I thinking? Anyone in Amerika has the God given right to send entire neighborhoods/towns into an uncontrolled tailspin (laws, rules and ethics be damned) in the pursuit of 1,500 bucks.

Lord, when you think about it, the rookie that cattle prodded that loan through probably got half of that and then paid taxes on the $750. Sure, I'll ruin your block for 500 bucks, why not? Again, with me it's not really a racial issue. If it were 3 Swedish/Hungarian/Alien families would any of us feel any better?

SQT,

If you have the time, go to where the county keeps its records (call ahead, it might be possible to do this online too) do some digging on the property record for the house. See who owns the house and how many pieces of property this person/corporation owns. This might help you uncover more about the landlord that you can use to your advantage.

If it's owned by a real person (yay!) then you might be in luck. Whoever owns this place is a landlord and acting like a slumlord (McMansion being used as a multiple dwelling like an apartment? lack of bathrooms for number of persons?). From your description, this person may very well be violating some landlord/tenant laws (FAB or Zephyr or Jack, please help!) on the books.

It would be sweet if the scumbag landlord ends up losing his house and the house gets sold (at a much much lower price) to a nice young family.

The house was purchased last year, that much I know. I think it may be owned by one of the occupants who may or may not be legal. Lately legal status has not been a barrier to buying.

I really hate the idea of cramping several families into one house. However, being an anti-NIMBYist I have to say that this is a result of not having enough suitable housing units built and sharing ought to be allowed.

Foreign residents are allowed to own US real estate, so "immigration status" is not directly relevant to those who do the transaction. I'm not sure if there is a tax-related obligation for the transactors, but that wouldn't really work to prevent illegals anymore than it does native-born tax cheats from buying & selling houses.

I think one problem with enforcing the "maximum number of families" rule has to do with technicalities.

For example, can a city stop a family who adopts 18 troubled teenage children (it happens, I saw a show on some cable channel documenting one such family in Texas)? Certainly there are no enforceable rules, even in tight CCR areas, that can prevent a family from having whatever number of children, either by birth or legal adoption.

How about parents and siblings? And their families? Cousins, aunts, uncles?

There are many non-illegal types who squeeze multiple generations and second-step family into a single home. Everywhere I've ever lived had no code to prevent such situations.

The practical problem is for the city to enforce multiple, non-related families living against code under the same roof. How does the city find out they aren't legitimately related, and how to prove they aren't when they claim otherwise? It's dangerous territory to tread for fear of discrimination claims.

The practical problem is for the city to enforce multiple, non-related families living against code under the same roof. How does the city find out they aren’t legitimately related, and how to prove they aren’t when they claim otherwise? It’s dangerous territory to tread for fear of discrimination claims.

We should just disallow street parking altogether. Street parking is dangerous anyway. Garage + driveway should be more than enough.

We should just disallow street parking altogether. Street parking is dangerous anyway. Garage + driveway should be more than enough.

How is that possible for a family of 5? Each person has to have their own car in California - it's the law.

And of course the garage has been converted to a bedroom.

How is that possible for a family of 5? Each person has to have their own car in California - it’s the law.

A 3-car garage + 2 on the driveway.

There can be metered guest parking on the street.

There are many homes, some well over $1M, in the hills of Mill Valley and surrounding towns that have no garage and often barely 1 off-street parking spot. Even this stupid McMansion we're renting has only about 1.5 off-street spots in addition to a 1 car garage.

That the cities didn't have the foresight to enforce proper zoning mandating a minimum amount of off-street parking when these homes were built is not something I'm interested in paying a post-facto price for. Alternatively, there are plenty of very fine CCR communities where off-street parking is strictly prohibited. There are plenty of homes for sale there.

At least my rented McPartment has two gated and assigned parking spots.

Randy,

My perspective on the INS issue is more general. The people living in that house is there illegally and should not be in the country.

I believe it is quite common for local governments to ban the conversion of windowless or small window rooms to bedrooms. If a county official goes in and finds beds in garages or other windowless rooms, they are usually able to take some action.

The INS side is more promising for SQT's situation, though it's best done if many people report this dwelling and they all complain loudly (including writing to congressman and letting INS know they've written to their congressman). You will be more effective if you pose yourselves as an actively voting block.

B,

LOL! Thanks. This is not a politically correct blog, so brutally honest opinions are welcomed as such.

Answer: single, overweight, 30-something women with at least 2 cats -the more “below average” looking the better. Send them chocolates at Christmas.

Then a crazy woman with 97 cats may fit the description... Hmm...

I think there should be a limit on the number of cats. No more than 5 cats. Any single woman who has more than 5 cats should be automatically deemed clinically insane.

Any single woman who has more than 5 cats should be automatically deemed clinically insane.

LOL

Our cat breeder has many cats. But she has a family though.

"Our cat breeder has many cats."

You have a cat breeder? What's her specialty?

What’s her specialty?

Ragdolls.

http://en.wikipedia.org/wiki/Ragdoll

They're so adorable looking. That's exactly the kind of cat I'd look for if I move to the country or 30 something single who lost hope.

They’re so adorable looking. That’s exactly the kind of cat I’d look for if I move to the country or 30 something single who lost hope.

Get a kitten.

My boyfriend say he can't cost justify a large pet (larger than a hamster or gerbil). It's too bad, since he has unlimited access to cutting edge kitty litter.

But if we ever move to the country, we will be able to justify keeping multiple mouser/squirrel chaser/vole eaters.

I really hope I won't be single at 30. I can handle being unmarried at 30, but being a hopeless 30 something would be very rough.

My boyfriend say he can’t cost justify a large pet (larger than a hamster or gerbil). It’s too bad, since he has unlimited access to cutting edge kitty litter.

Cats are not usually large (except pet tiger) and they do not cost a lot (usually less than $750 a year per cat). Cat litter is a major cost, if you have that taken care of...

I cannot cost justify myself.

But if we ever move to the country, we will be able to justify keeping multiple mouser/squirrel chaser/vole eaters.

I heard that Maine Coons are excellent mousers.

We do like cartripping and hiking, so we can’t leave pets alone for very long. His parents also have an allergic dog that costs them thousands each year in vet’s bills, so he’s a bit scared to commit to a pet.

It should be fine to leave your cats at home alone for up to 3 days. Cat-sitters usually charge less than $30 a day and she can come every other day.

There is pet health insurance if you are very worried. It costs around $40 a month.

Do not go to the vet too often. It costs a lot. Animals are usually quite robust healthwise.

I think of Maine Coons as outdoor cats. They’re really huge and very hairy, so I don’t think I’d want them outdoors. They would be super nice farm cats.

True.

Cats are very low-maintenance anyway. I cannot even imagine of getting a dog.

The poor allergic dog was incredibly itchy. When he was young (before he was diagnosed and properly medicated) he used to scratch himself raw.

My boyfriend claims dogs are more emotionally rewarding. I prefer cats personally, since cats are more intelligent and independent. I like being around a creature with a mind of its own.

My boyfriend claims dogs are more emotionally rewarding. I prefer cats personally, since cats are more intelligent and independent. I like being around a creature with a mind of its own.

Dogs are also more emotionally draining. They demand too much attention.

Cats are very intelligent and are very individualistic. They not only have minds of their own... they have agendas!

I feel that cat-lovers are generally more conservative and reserved. Is this what you observed?

I used to be really into cats, but the one I have now is not a very nice animal. I don’t even know why I’ve kept him all these years.

Cats have horoscopes too.

One of our cats is quite dog-like.

"I feel that cat-lovers are generally more conservative and reserved. Is this what you observed?"

I do sense that dog owners are much more emotive. They also like controlling their dogs, so that the dog can become an extension of the owner. Or if the dog is improperly trained, the owner becomes an extension of the dog.

Cat owners admire their cats and the cats understand the owner's usefulness. I think that's a more mature relationship.

I want a hyno-toad, but then the hyno-toad would own me.

Cat owners admire their cats and the cats understand the owner’s usefulness. I think that’s a more mature relationship.

Very true. One cannot "control" a cat.

I do sense that dog owners are much more emotive. They also like controlling their dogs, so that the dog can become an extension of the owner.

I agree.

SQT,

Any chance you mom will leave the little dog behind for you and her grandkids?

5 is a lot, especially for an apartment. That means you got 5 fur nuggets crapping and pissing in an enclosed, small space.

Just get a huge litter box. Cats are very tidy.

Five still sounds like a lot. How many people do you know with five cats? That’s a lot of cats.

My friend used to have 4. 5 may be a lot then.

I’ve always classified myself as a cat person, but truly, when you have an animal that barely acknowledges you even though you’ve spoiled it rotten for 10 years, the shine kind of wears off.

The cat will acknowledge you only when it wants to. ;)