Freaking hot real estate market...

[CosmicCowboy]

Dang. I knew it was a hot real estate market. Just sold a house I bought in the 78230 zip for 150k five years ago. Didnt make any significant improvements. Listed it thursday afternoon for 220K thinking I would have room to negotiate...got a full price for cash Friday morning and have a second offer as a backup. Guess I should have asked more but didnt think it would appraise on a conventional sale.

[dabom]

Now you can get a bigger house and pay more per month.

[CosmicCowboy]

Meh. I never lived there. Bought it for my daughter. Then bought her a bigger one story after they had a baby. I was going to rent it but decided I didnt want to fuck with it.

[CosmicCowboy]

Looks like I am going to have to buy into this overheated market though. Wife wants to sell the big house in SA and get a new garden home since we spend most nights at the lake now.

[Pavlov]

Congrats.

[CosmicCowboy]

Damn Chump. Did I just not notice it before, or did you change your team to the Lakers?

[spurraider21]

I wish there were homes in that price range here :lol

[CosmicCowboy]

I wish there were homes in that price range here :lol

You should move here. The economy is smokin.

[spurraider21]

You should move here. The economy is smokin.
Cost of living is shit here but LA will always be my top choice. Plus all my family is here.

Though depending on where the wife gets into med school, we’ll be relocating for a few years. Likely east coast if she doesn’t get anywhere local

[Pavlov]

Damn Chump. Did I just not notice it before, or did you change your team to the Lakers?It's always been that for this screen name. Should probably change it.

[CosmicCowboy]

Cost of living is shit here but LA will always be my top choice. Plus all my family is here.

Though depending on where the wife gets into med school, we’ll be relocating for a few years. Likely east coast if she doesn’t get anywhere local

SA has a good med school. She should check it out. As much as Boutons bitches about living here is not the right wing whacko stereotype.

[dabom]

Meh. I never lived there. Bought it for my daughter. Then bought her a bigger one story after they had a baby. I was going to rent it but decided I didnt want to fuck with it.

With all his government spending, it's going to create a recession. Sell now and buy during recession.

[ducks]

It's always been that for this screen name. Should probably change it.

How many screen names you have

[spurraider21]

SA has a good med school. She should check it out. As much as Boutons bitches about living here is not the right wing whacko stereotype.
problem is she's applying as an international (still doesn't have green card even though we got married nearly a year ago) and many schools, esp in texas, dont take apps from internationals. she's already sent all her apps in, so we'll see where the chips fall

only school she coulda applied for would be baylor, and they have their own unique application system. wasn't worth it, already has 41 schools on her list

[koriwhat]

Dang. I knew it was a hot real estate market. Just sold a house I bought in the 78230 zip for 150k five years ago. Didnt make any significant improvements. Listed it thursday afternoon for 220K thinking I would have room to negotiate...got a full price for cash Friday morning and have a second offer as a backup. Guess I should have asked more but didnt think it would appraise on a conventional sale.

thats cheap considering where it is... 78230 NW satx. good area and prices have dramatically risen over the past couple decades. a 150k house in early 2000's is now closer to 350k in the more affluent neighborhoods around there.

[CosmicCowboy]

Yeah, this was a 2/2/2. Nice neighborhood and all but only 1500sf.

[CosmicCowboy]

Thats the zip my main house is in.

[koriwhat]

Yeah, this was a 2/2/2. Nice neighborhood and all but only 1500sf.

:tu

[koriwhat]

problem is she's applying as an international (still doesn't have green card even though we got married nearly a year ago) and many schools, esp in texas, dont take apps from internationals. she's already sent all her apps in, so we'll see where the chips fall

only school she coulda applied for would be baylor, and they have their own unique application system. wasn't worth it, already has 41 schools on her list

baylor had some trouble a couple yrs ago where they were looked into and almost discredited. my step bro went there during that period and is now in med school out in galveston for the past 2 yrs. just a heads up on baylor. not sure about their med school though.

[baseline bum]

I wish there were homes in that price range here :lol

https://www.youtube.com/watch?v=q4iIpcFFjC8&t=0m57s

[dabom]

https://www.youtube.com/watch?v=q4iIpcFFjC8&t=0m57s

:lmao

[spurraider21]

https://www.youtube.com/watch?v=q4iIpcFFjC8&t=0m57s
:lmao

and yeah, im in the san fernando valley. so i can buy half of the rock at the end with 200k

[boutons_deux]

Cities Where the Middle Class Can No Longer Afford a Home

https://247wallst.com/special-report/2018/07/25/cities-where-the-middle-class-can-no-longer-afford-a-home/2/

[DarrinS]

Cities Where the Middle Class Can No Longer Afford a Home

https://247wallst.com/special-report/2018/07/25/cities-where-the-middle-class-can-no-longer-afford-a-home/2/






Great look for team blue. Thanks for sharing.

[Pavlov]

Great look for team blue. Thanks for sharing.lol Darrin hates the free market and success.

[dabom]

lol Darrin hates the free market and success.

:lol

[Down Under]

I visited the States last year & could easily live in Austin & maybe even San Antonio for how low the cost of living is. LA is really nice in parts (National Forests, some beaches) but others (Downtown, Hollywood & even some beaches) I wasn't a big fan of.

[sickdsm]

Meh. I never lived there. Bought it for my daughter. Then bought her a bigger one story after they had a baby. I was going to rent it but decided I didnt want to fuck with it.

I know you can afford it but why the fuck would you buy a house for your daughter?

[BD24]

Market is great in SA right now. Bought my home in 2015 for 220k and similar houses in my neighborhood are going for 260k-270k now

[rmt]

I know you can afford it but why the fuck would you buy a house for your daughter?

I think it's a common malaise today (doing too much for kids - myself included). I find that this generation lives in the moment with hardly any planning. It's "don't worry, mom, it'll work out." From waiting till last minute to get apartment, to turning on utilities, etc. They seem to have no sense of urgency - that it'll just happen and then you get the frantic phone call like - "I can't get the freeze off this credit agency and I have to mail in all this stuff which will take forever." It's like you knew this was coming up, why didn't you do this weeks ago? I think back in the day, my parents never did a thing for me and that's what this generation needs to experience. But it's hard - you get the "don't you care that I'll be homeless?" and then I get in touch with a LIVE person and get the credit freeze lifted.

[Spurminator]

I think it's a common malaise today (doing too much for kids - myself included). I find that this generation lives in the moment with hardly any planning. It's "don't worry, mom, it'll work out." From waiting till last minute to get apartment, to turning on utilities, etc. They seem to have no sense of urgency - that it'll just happen and then you get the frantic phone call like - "I can't get the freeze off this credit agency and I have to mail in all this stuff which will take forever." It's like you knew this was coming up, why didn't you do this weeks ago? I think back in the day, my parents never did a thing for me and that's what this generation needs to experience. But it's hard - you get the "don't you care that I'll be homeless?" and then I get in touch with a LIVE person and get the credit freeze lifted.

You guys just take any opportunity to get your shots in about lazy entitled millennials, don't you? Why is that? :lol

I don't see any issue with buying a house and renting it back to your kid, and I don't think that reflects poorly on them or you. Given that housing costs are far outpacing entry level salaries, I'd say it's a smart move if you can do it.

[Pavlov]

rmt never passes up an opportunity to declare her superiority.

[Spurminator]

Like I know the "This generation doesn't understand hard work like my generation did" rant has been a time-honored tradition for middle-age-to-old people for centuries, but it has taken on new level of ridiculousness in the cable news / clickbait era.

[TeyshaBlue]

Get off my lawn.

[TeyshaBlue]

You guys just take any opportunity to get your shots in about lazy entitled millennials, don't you? Why is that? :lol

I don't see any issue with buying a house and renting it back to your kid, and I don't think that reflects poorly on them or you. Given that housing costs are far outpacing entry level salaries, I'd say it's a smart move if you can do it.
I did it. Twice. Still waiting for the smart move part. :depressed

[pgardn]

My grandad walked to school in the snow...

But did he walk to school in August when the pavement was the temperature of the sun?
So tiring, but brings about a lot of kidding and some good memories.

[Spurminator]

I did it. Twice. Still waiting for the smart move part. :depressed

:lol Sorry man. Bad tenants or bad timing?

[baseline bum]

I visited the States last year & could easily live in Austin & maybe even San Antonio for how low the cost of living is. LA is really nice in parts (National Forests, some beaches) but others (Downtown, Hollywood & even some beaches) I wasn't a big fan of.

Hollywood is a dump. I don't get why tourists ever go there when LA and the surrounding area is brimming with amazing places to visit. It has been ten years since I lived in LA, but downtown was dead at least then. If I had to stay a couple hours late at work, downtown would be a ghost town by the time I got out. Hermosa Beach and south are nice and the beaches north of Santa Monica are great too. If you went to Venice or Santa Monica those are kind of crappy beaches IMO. Unless you're looking for a blowjob, seems like plenty of hookers out in Venice. :lol

[TeyshaBlue]

:lol Sorry man. Bad tenants or bad timing?

Started out for the kids. Was great for a few years. Foolishly held on to them after they moved out...been one headache after another. Market is good here...need to just unload them.

[rmt]

You guys just take any opportunity to get your shots in about lazy entitled millennials, don't you? Why is that? :lol

I don't see any issue with buying a house and renting it back to your kid, and I don't think that reflects poorly on them or you. Given that housing costs are far outpacing entry level salaries, I'd say it's a smart move if you can do it.


Meh. I never lived there. Bought it for my daughter. Then bought her a bigger one story after they had a baby. I was going to rent it but decided I didnt want to fuck with it.

Where does he say that he rented it back to her? He bought it for her (and if I didn't think Alzheimer's is in my future, I'd probably do that too) - I'm simply saying that it's hard not to help them out when you can but sometimes helping them is not good. And yes, she didn't persevere - that customer service number is on the internet - I found it and if she had looked hard enough, she would have found it too instead of giving up and calling mom to bail her out.

[Spurminator]

Where does he say that he rented it back to her? He bought it for her (and if I didn't think Alzheimer's is in my future, I'd probably do that too) - I'm simply saying that it's hard not to help them out when you can but sometimes helping them is not good. And yes, she didn't persevere - that customer service number is on the internet - I found it and if she had looked hard enough, she would have found it too instead of giving up and calling mom to bail her out.

I wasn't suggesting he did say that, I was just giving an example of one perfectly reason you might buy a home for your kid. I'd like to think most parents who do so are expecting some kind of payment plan to make sure the kids are at least sharing the load.

[rmt]

I wasn't suggesting he did say that, I was just giving an example of one perfectly reason you might buy a home for your kid. I'd like to think most parents who do so are expecting some kind of payment plan to make sure the kids are at least sharing the load.

Not necessarily - sometimes the thought is that it's going to go to them anyways - why not help now when they can enjoy/need it most instead of later when they're old(er) but I think it does affect how much they strive if they think/know it's coming to them. Lots of issues to think about - there's also helping/leaving more to one who you think needs it more - my thought is that it should be equal - circumstances change and even if one doesn't need it, he/she might think you don't love him/her as much as another. If one doesn't need it, he/she can always give their portion to another.

[Down Under]

Hollywood is a dump. I don't get why tourists ever go there when LA and the surrounding area is brimming with amazing places to visit. It has been ten years since I lived in LA, but downtown was dead at least then. If I had to stay a couple hours late at work, downtown would be a ghost town by the time I got out. Hermosa Beach and south are nice and the beaches north of Santa Monica are great too. If you went to Venice or Santa Monica those are kind of crappy beaches IMO. Unless you're looking for a blowjob, seems like plenty of hookers out in Venice. :lol
Pretty much exactly the places I was thinking. I stayed at Santa Monica & went for a walk down to Venice & it felt like Surfers Paradise here only seedier. But then drove further up & the beaches were much nicer. Plus being so close to Los Padres & Angeles Forests makes it a pretty nice City. I think too many people visit Hollywood/Venice/Santa Monica & just think LA is a shithole which isn't true at all.

[spurraider21]

west hollywood is much nicer than hollywood

[TDMVPDPOY]

alot of western countries now are in a property bubble due to foreign investment, lax immigration laws for cashed up ppl, lax property tax laws for property investment purposes

they havnt learn anything from gfc, banks and any fckr in the real estate industry is just going to stir the pot, see how high it can go, and see the consequences of the crash

[CosmicCowboy]

west hollywood is much nicer than hollywood

My son lives in Culver City. Its pretty nice around there.

[CosmicCowboy]

So how much higher do you guys think the SA real estate market will go? The economy is smokin and people are moving here like crazy. I just looked at a 2500sf garden home near the Rim today. Thinking of selling the big place and buying there. Its a fairly new subdivision so will have to put up with construction in the neighborhood but I think they will appreciate fast.

[CosmicCowboy]

New construction prices will go through the roof if they really kick the illegals out.

[rmt]

New construction prices will go through the roof if they really kick the illegals out.

You think that's gonna happen - not a chance, imo.

[boutons_deux]

alot of western countries now are in a property bubble due to foreign investment, lax immigration laws for cashed up ppl, lax property tax laws for property investment purposes

they havnt learn anything from gfc, banks and any fckr in the real estate industry is just going to stir the pot, see how high it can go, and see the consequences of the crash

one fundamental aspect of globalization was the (neo)liberalization of international Capital flows. $Ts sloshing around the planet looking for better returns. Can inflate an economy or sector, then just as quickly deflate it.

And of course $Ts flowing into tax havens.

Remember predatory vulture Mnuchin? "Oh yeah, right, I forgot about the little $100M I have stashed in Caymans. I'll update my financial declaration form"

[dabom]

So how much higher do you guys think the SA real estate market will go? The economy is smokin and people are moving here like crazy. I just looked at a 2500sf garden home near the Rim today. Thinking of selling the big place and buying there. Its a fairly new subdivision so will have to put up with construction in the neighborhood but I think they will appreciate fast.

Buy during or right after recession bro. Not a joke.

[CosmicCowboy]

Buy during or right after recession bro. Not a joke.

What recession?

[CosmicCowboy]

Incomes are rising. Interest rates still at historical lows, inflation (except for housing) at 2. The economy is doing great.

[dabom]

What recession?

There's gonna be one. Within 2 years.

[CosmicCowboy]

There's gonna be one. Within 2 years.
Why?

[dabom]

Why?

Ait man. Let me know if you get that new house.

[CosmicCowboy]

Maybe stagflation but not recession.

[dabom]

Maybe stagflation but not recession.

Recession for sure.

[koriwhat]

dabom's a fucking retard with his retard takes as usual. he knows nothing about the housing market. and everything he does know comes from being a chick and watching his hgtv religiously.

[dabom]

dabom's a fucking retard with his retard takes as usual. he knows nothing about the housing market. and everything he does know comes from being a chick and watching his hgtv religiously.

Ok midget. :lol

Have you ever seen the top of any fridge? :lol

[koriwhat]

Ok midget. :lol

Have you ever seen the top of any fridge? :lol

lmao i'm tall enough... def no midget unless you chop my legs off and def no giant unless i grow a foot.

ah poor baby can't take the fact that i know you're a retard and your takes in this thread are straight out of your retard ass with no actual substance behind them but more shit to pile on top of your already bs takes.

[dabom]

lmao i'm tall enough... def no midget unless you chop my legs off and def no giant unless i grow a foot.

ah poor baby can't take the fact that i know you're a retard and your takes in this thread are straight out of your retard ass with no actual substance behind them but more shit to pile on top of your already bs takes.

"Tall enough" :lol

Brah you 5' 6" at most. That's short as shit. :lol

[Xevious]

Started out for the kids. Was great for a few years. Foolishly held on to them after they moved out...been one headache after another. Market is good here...need to just unload them.

I still own a house I bought in 2007 right before the value bottomed out. I lived in it until 2011 and couldn't sell it, so I rented it out. After a couple nightmare tenants, my brother and his wife moved in. He's still there. I'm just waiting for the day that he says he's going to move. There will be a sign in the yard that afternoon. :lol

My advise to anybody who cares... don't get into a financial relationship with family members (I'm not talking about dependants, but adults). And being a landlord to a family member counts. It just makes the relationship weird.

[boutons_deux]

Recession for sure.

Unregulated Capital-ism is, has always unstable.

Ex-Wall Street Banker Sounds the Alarm: Ten Years After the Financial Crisis, 'We're Going to End Up In the Same Situation'

William Cohen warns next time, it might even be worse.

“I wish I could say that we had, but we haven’t,” Cohen said.

“The main driver of bad behavior on Wall Street is the compensation system,

what people get rewarded to do.

People are pretty simple—they do what they are rewarded to do.

Wall Street is still rewarded to take big risks with other people's money.

They are not rewarded to take prudent risks.

We're going to end up in the same situation again.

I'm afraid it's going to happen much sooner than anyone would like and

it will be just as bad as the last one, if not worse.”

https://www.alternet.org/ex-wall-street-banker-sounds-alarm-ten-years-after-financial-crisis-were-going-end-same-situation

It could be so bad that the interanational agreement that BigFinance would fix its liquidity crises by "bail-in" with cash stolen from depositors' accounts, which is perfectly legal and the recommended solution

[koriwhat]

"Tall enough" :lol

Brah you 5' 6" at most. That's short as shit. :lol

not 5'6"... sorry to burst your bubble and def not shorter either.

you just love playing make believe and i suppose that's why you subscribe to the ideology of make believe. you and those like you are a bunch of fucking losers.

[koriwhat]

btw, prove me wrong about what i said that pertains to you, debum, in that reply up above. you can't do so and the stupidity shines bright within you.

[BD24]

Why is Kori pretending he can afford to buy a house:lol

Go tell us all how much of a rebel hard ass you are in another thread, the grown ups are talking

[dabom]

Why is Kori pretending he can afford to buy a house:lol

Go tell us all how much of a rebel hard ass you are in another thread, the grown ups are talking

:lol

[DMC]

Cost of living is shit here but LA will always be my top choice. Plus all my family is here.

Though depending on where the wife gets into med school, we’ll be relocating for a few years. Likely east coast if she doesn’t get anywhere local

Plus there's a lot of medians to hide in and snipe.

[DMC]

There's gonna be one. Within 2 years.

Before or after Kawhi goes West? Wait...

[DMC]

So how much higher do you guys think the SA real estate market will go? The economy is smokin and people are moving here like crazy. I just looked at a 2500sf garden home near the Rim today. Thinking of selling the big place and buying there. Its a fairly new subdivision so will have to put up with construction in the neighborhood but I think they will appreciate fast.

It's too big an initial investment with too much risk. The cost of owning the property without immediately flipping it can quickly outweigh the difference.