Very true to most areas. You can find it in the high desert and saltine sea area, etc . But if you want to live and work in DTLA it’s not going to happen on that salary.
I agree with you but Canoga park is pretty low on the list of places to live . No disrespect to anybody who lives there . This is suppose to be one of those neighborhoods that people deal with the crime, traffic and illegal immigration because its affordable . At 900k not even close . So where is " affordable " honest question
I agree but a couple who makes 250 k should not be buying a house at 900k in the hood either . Govt housing is on its way . The powerful in charge are destined to drive this country in to socialism . Its fucked
.
The bank always win . That house was sold for 50k in 1957 . How many times has it changed hands since ? The banks always end up with it and sell another loan . Same property just bigger margins now 70 years later . Sad .I think what will happen is a Blackrock or some such entity will swoop in and buy these people out or put them in some kind of reverse mortgage
How many people would take $500/month.. or even just “free” rent for 5 years to make their distressed property problem go away??
Those companies have to be licking their chops figuring out how to take advantage of the stupid, while protecting the portfolio.
Housing booms every 10 years because there’s a new generation of suckers to take advantage of in this disposable society
Saw this quote the other day:
It's lame. But we all do it to ourselves. Crazy....
What Is interesting is that back when my parents were in Real Estate sales, in the 70s to 2000s they would talk about the 7 year cycles. The 2008 debacle moved things up to 10 year this time. It is going to be interesting if this is the new norm.
My grandfather subdivided much of Torrance, Palos Verdes and Ranch PV back in the 50's-70's. I'm 3rd generation in the crazy business. The 7 yr cycles back in the day were slow downs. Not winner takes all swipe the board clean situations like we've seen since the the early 2000's.What Is interesting is that back when my parents were in Real Estate sales, in the 70s to 2000s they would talk about the 7 year cycles. The 2008 debacle moved things up to 10 year this time. It is going to be interesting if this is the new norm.
Not to mention when you buy it will only be you that makes the decision if you want to stay there or move somewhere else and it's your rules. Living by someone's rules or the uncertainty if you'll have to be looking and competing for a new place to live in a month is real nice not to have to deal with.So true. Had a friend that just was forced to move to a new rental when the owners sold. They were having a hard time until the found someone willing to rent out their vacation home. The cost was almost double what they had moved from.
This is the reason why I keep trying to get the next generation to buy ASAP. It you do you will never have your monthly housing expense go up.
www.nbcsandiego.com
might was well buy it, because 8-10 yrs from now, it will be worth 2.4 million according to some smart money people.
You think real estate value over the long term will deflate?
No, but to pretend that real estate values never deflate is silly. Obviously you go back historically and long term it will keep climbing, at what pace... nobody really knows. Some people who bought in 05&06 were lucky to be back to ground zero in 2016/2017... currently they are up 10 + yrs later, but who knows for how long, as we are back in record territory. I wouldn't recommend a friend or family member to buy in this market, unless they were relocating / absolutely HATED where they live / or if they are just balling Catalina wine mixer style.
I didn’t pull any money went from 30 years to 20 years. Payment went up about 400 a month
Lol so you are saying it’s a solid investment even after being in the red for 10 years.
FWIW I got 17 offers on my house. More than half were investors for 8-15% over asking. The lower offers from individuals were still over asking but less than what the investors offered.Yep!
California Lawmaker Proposes 25% Tax on Real Estate Investors to ‘Level Playing Field'
There’s a push to pass a law that limits short-term investors from buying up homes and rental properties, then selling them at higher rates.
Saw this a few weeks ago. Why NAR and CAR is not making anyone aware or fighting against it is ridiculous. Sometimes I wonder where my dues go? LOL.. Actually never mind, I know where they go.
This isn't for equality- it's about control (socialism). Most of the distressed homes aren't for the first time, down-payment assistance/FHA buyer. The person who flipped it makes that possible (making it a financeable home). And it's not just about distressed homes, who cares if someone buys something and sells for a profit. This is America dammit! With the ever-growing cost of living, regulations and taxes, people need to find ways to prosper. Now they want to take that away?
Also, the people bidding the homes up are a majority retail buyers. Investors are not paying these prices. Their entire argument is false rhetoric. Fake news! lol
This agenda combined with the one about giving CA first dibs on all trustee sales is very very scary. The powers that be want total control, they want to own everything. Their mentality; "The common man is too stupid to own property, we will own them all and decide who gets one"
My call was GUSH at $12 $175 today, was $185 last week.
Well if I’m losing 1/2 my equity (I’m being sarcastic
) I’d rather have the bank take the L not me.
not painting myself into any corner... there is still timing to consider for the market... re-read what I wrote.
So let me get this straight. He's posting on FB during work time hiring Non union guys with no PPE working on his pad?
And he wants to be a union Business AgentSo let me get this straight. He's posting on FB during work time hiring Non union guys with no PPE working on his pad?
Just giving you shit Vic
RDP needs a reset. There is nothing "River" related on RDP. I do appreciate the knowledge on here though.
I can tell I'm doing life wrong.
Just remember...stepping into the BA roll requires you be a politician, and no longer just "one of the guys". There are pros, no doubt, but there are cons you won't see.And he wants to be a union Business Agent
You aren’t wrong and people do monitor fb. Weird times we live in
You may be right...
Even as an instructor you have to play the game
Figured as much. It works for some. Hell, Pops made a good living, and ended up with a decent retirement. After seeing what could happen...and did...I wasn't going that route. Pops was a much nicer person than I me, and more trusting. Unfortunately, that caused issues. I have no time nor tolerance for those who may wish to harm my livelihood, and such, my family. I was still young, so it effected me pretty heavily.
