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Staying in North County and looking for something with around 10 acres. May have to sit on mine a bit longer and hope it keeps climbing.
That's what I'm thinking. Did the whole remodel on my own minus the granite counter tops so I make out pretty well. Not sure I want another project as I just put so much work into it and it looks great. Also have a great lot with no neighbors within a few hundred yards which is tough to find in San Diego so it's hard for me to give that up and find something similar.
Staying in North County and looking for something with around 10 acres. May have to sit on mine a bit longer and hope it keeps climbing.
There are plenty of people saying we are in another housing bubble that is sure to burst. Time will tell.
I found this interesting...
According to Fitch Ratings US RMBS Group Director Stefan Hilts, "The issue isn't' that their prices are in a bubble, it's just that prices grew faster than fundamentals. That's why we're worried about these markets."
The most overvalued cities are as follows:
1) Austin, Texas, whose current overvaluation is pegged at 19 percent, according to Fitch
2) Houston TX, specifically the Houston- Sugarland-Baytown area, overvalued by 18 percent
3) Phoenix, AZ, specifically the Phoenix-Mesa-Glendale area, overvalued by 18% percent
4) Riverside, CA, whose overvaluation reached 17 percent, specifically the Riverside-San Bernardino-Ontario area
5) Miami FL, specifically the Miami-Miami Beach- Kendall area, overvalued by 16 percent
http://www.realtytoday.com/articles/...kets-today.htm
Homeowners tax in Texas replaces the State income tax. So I can see CC mortgage payments being big.
Its a fat tax, gives people moving in from other States heart attacks when they first see it.
school district
county hospital
city
Big Fat taxes. People in Texas don't realize how many people they were footing the bill for health care thru the county while they railed at Obamacare, it's kinda funny. And it goes unnoticed by many who just pay the mortgage company.
Well, now we get to pay for Obamacare AND still pay the same percentage rate to the Bexar County hospital District
what are YOU "paying for Obamacare"?
Seriously, Boo? Obamacare basically just turned out to be an expansion of free Medicaid and anyone that pays taxes pays for that.
There is no such thing as "something for nothing".
We are all already paying for poor people to "just go to (dubya's USA universal medical care) ER".
Expanding Medicaid and subsidizing insurance was to get people out of the ER and to (preventative) healthcare earlier in their diseases.
Have YOUR taxes gone up because of ACA?
Do you about paying $1.5T/year to maintain American Corporate Empire planet wide? I though not.
Boo...we expanded medicaid AND are still paying the same to the county hospital district.
Not a huge fan of Obamacare, but this complaint isn't all that valid, is it? People using Obamacare actually have to pay for it in 9/10 cases. There are subsidies to make it affordable since it is mandatory, but insurance companies get more money (again, because it is mandatory -- think economies of scale -- but also because preventative care is usually exponentially cheaper for them), hospitals save more money since they don't have to eat the tab of uninsured people clogging up their ERs per the EMTALA, and the government saves money because it doesn't have to keep said hospitals from going broke. Really, the biggest losers are the policy holders, since most Obamacare plans have such high deductibles that they lessen the blow of only the most catastrophic conditions... seems like a generally conservative gent such as yourself would appreciate the personal responsibility implicit/explicit in such an arrangement. I expect the insurance companies don't mind much.
Is that because the Governor declined to accept the full stipend of Obamacare, or a seperate issue? Honest question.
CosmicConfused, what ADDITIONAL are you paying for TX NOT expanding Medicaid?
You need to check your facts. The majority of Obamacare signups went straight to Medicaid. Definitely not your 9 out of 10 paying as you claimed. Last number I heard was 71%. As for Texas not participating they still have been able to sign up through the Federal exchange (at least until the Supreme Court rules).Not a huge fan of Obamacare, but this complaint isn't all that valid, is it? People using Obamacare actually have to pay for it in 9/10 cases. There are subsidies to make it affordable since it is mandatory, but insurance companies get more money (again, because it is mandatory -- think economies of scale -- but also because preventative care is usually exponentially cheaper for them), hospitals save more money since they don't have to eat the tab of uninsured people clogging up their ERs per the EMTALA, and the government saves money because it doesn't have to keep said hospitals from going broke. Really, the biggest losers are the policy holders, since most Obamacare plans have such high deductibles that they lessen the blow of only the most catastrophic conditions... seems like a generally conservative gent such as yourself would appreciate the personal responsibility implicit/explicit in such an arrangement. I expect the insurance companies don't mind much.
Last edited by CosmicCowboy; 06-12-2015 at 01:57 PM.
I see that you're right, sir. That's what I get for talking out my ass.
Taxes on a $250,000 house in Texas are about $7000 per year plus insurance at about $2000 per year, so CC's estimate is mostly correct....about 2200 per month.
Home Taxes don't go to Obama care....but emergency room and ambulance services used by people without insurace do.. kinda ironic...there are only 32 ambulances serving SA...true fact...
I've posted about rising home prices in San Antonio before....I have found that there are two main causes besides low borrowing rates ...number one....people are looking to diversify away from the Stock market...so they are buying homes in TX, where rents are moderately high, and letting renters pay their mortgage while they play the waiting game letting home prices rise........the second reason is that ins utional buyers, i.e... consolidated private buyers, kinda like home vesters, if you've ever heard of them...are doing the same thing
Barring regulation, I see this thrend continuing until home prices are so out of reach for the avg. SA worker that they have no choice but to rent...which is just what the owners want....
The prices aren't "inflated".
US population is set to keep growing, as is that of Texas.
Even assuming that "there aren't enough credit worthy individuals", you would then simply have a demand for homes to be used as rental homes, as we have seen.
A bit from last August shows why:
http://www.marketplace.org/topics/ec...very-very-high
There is an interplay between renting and owning. Houses will be in demand either way.
I think your assertion though, that there aren't enough credit worthy individuals is not really backed by any evidence I have seen. Most of what I have seen in the business press, and that includes underwriters opinions as well, is that the standards got tightened way too far in reaction to the housing crisis, which was caused in no small part by too lax underwriting.
The pendulum has swung a bit too far the other way, IMO. An equilibrium will be found eventually.
Even so, simple population growth will keep up. A bit less than $1 per square foot seems to be about the ownership price level.
Haven't checked the $/sq ft rental levels in a while though.
Last edited by RandomGuy; 06-15-2015 at 11:14 AM. Reason: clarity and grammar
My understanding:
That is because the county hospital has seen the federal grants that used to be a mainstay scaled back. These grants used to offset the costs of the uninsured and non-payers that came in for care.
In return the county hospitals have gotten more paying clients in terms of medicaid patients.
Sort of a wash, other than what I would guess is slightly reducing overhead costs.
I will look to see if I can put some facts that support my understanding. I would note that as part of one of my audits, I got to talk directly to a county hospital CEO, and these grants were a prime source of revenue that were used to offset the cost of uninsured emergency room visits.
The thing that drives a lot of costs for poorer people is premature births. You want to pay less for your county hospital, invest in sex education and family planning clinics.
http://www.universityhealthsystem.co...get_Report.pdf
There is the "S" word ... noted in passing as mildly interesting.
Anyhoo... lunch hour is up. Will comb through it a bit more as time permits. Some of the discussion does center on the reforms and their bottom line impacts.
I would note the following:
Here's how much you need to make in each US state to rent a two-bedroom apartment
http://www.businessinsider.com/heres...artment-2015-6
After an Era of Ups and Downs, Home Prices Return to Sanity
In contrast to the periods of irrational optimism and pessimism, the market is settling into a balance in which buyers are comfortable spending what they can afford given their income and savings, but aren’t willing (or able to persuade lenders) to stretch beyond that. Among buyers there is neither a sense of desperation to buy now on the assumption prices will rise rapidly, nor of fear they will plummet.
For a while in 2013 and early 2014, national home prices were rising at a double-digit percentage rate, which if sustained could have rapidly led housing back to its bubble-era extremes. But the reality — of caution on the part of home buyers and their lenders — soon set in. In the 12 months ended in March, the S.&P. Case-Shiller national home price index rose only 4.1 percent, not much higher than the rise in Americans’ incomes and broadly consistent with longer-term trends.
“The market is coming back, but we’re not having astronomical growth,” said Thomas O’Bryant Jr., the chief executive of the Greater Tampa Association of Realtors. “We’re having the kind of growth that is going to be sustainable, and any time you have steady growth it’s much better than having bubble growth.”
Prices have risen faster than incomes and rents since the beginning of the last decade, and by those measures remain high by historical standards. But a downward march in mortgage rates has made housing more affordable on a typical American’s income. Add it all up, and Fitch Ratings calculates that American housing is currently 3 percent overvalued, which counts as sustainable in the firm’s analysis. (It was 26 percent overvalued versus economic fundamentals in early 2006 and 7 percent undervalued at the end of 2011). Similar calculations by economists at the real estate website Trulia this year found the national housing market was 2 percent undervalued.
As always with housing, each local market has its own dynamics. An online calculator from The New York Times, first published last year and newly updated, makes it easy to analyze a buy vs. rent decision incorporating the details about the purchase price, equivalent rent and other factors in your location.
http://mobile.nytimes.com/2015/06/18...to-sanity.html
What about now
Houses go up or down ?
Since Biden is in office, you'll complain either way
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