We made changes in 2020 sold oc home took lot of equity to az took a small 60k loan for 15 years. Put 250k down. Made life way easier for sure wife back at work full time I went part time.
Pretty much what I did in '12. The goal was to bring living expenses down (and blood pressure). With 5 in the house, including 2 teenage boys, groceries are out of hand. One boy is working out heavily, and could out eat a horse. The other kind of requires a particular diet. Turns out, the healthy stuff is pretty expensive.
I hear you on judging from this site and real world. Havasu like mentioned is different. Lot go there with money or big retirements money will always be there.
Correct, they were falling from buildings, taking handfuls of sleeping pills or other means of checking out.
I’ve had one project go to foreclosure and a second that will be having a trustee sale on Monday. With the way land has gone no deals yet. We are seeing prices down 30-40% on our side from the peak. Still actively looking to buy. I know a fair amount of people sitting around with a lot of money from refis on large commercial projects ready to scoop stuff up.
Correct, they were falling from buildings, taking handfuls of sleeping pills or other means of checking out.
A few went to robbing banks, and I applauded them for their efforts
What I am saying is this, those who know what it's like, hopefully have learned and prepared. There are some that have never dug a ditch, or ever had to worry about making payments, or feeding their kids. I'd actually guess there are some here who had sacrificed as kids, to help their parents. Some may not care to admit to such things, but it all forms the people we are.
There are those who remember, and those who never have. I'm of the camp "Work like you're hungry, even if you're not". Not about money or getting the bright shiny car, more like some go to the gym. It keeps you from forgetting what it's like, and keeps you from forgetting where you've been.
I know, but you keep repeating "This is nothing like '08...."The stats don’t really show a jump in people ending themselves last go around. Let’s not confuse mental health issues with financial issues.
U.S. Suicide Rate 2000-2024
Suicide mortality rate is the number of suicide deaths in a year per 100,000 population. Crude suicide rate (not age-adjusted).www.macrotrends.net
More than a few people literally robbed banks last time via cash out refis and never paid them back. Those are the bank robbers I applaud. They never we’re charged or spent any time in jail.
People that were impacted financially adapted in their own way and made things work, or languished in their own troubles. Those are personal choices. Just because someone suffered pain to learn some financial lessons does not mean others needed to also suffer the same pain to learn the same lessons. Maybe they already knew them, maybe they were prepared.
Like I said, no one died in the streets from the recession and famine of 2008
) This tells me that finance industries are preparing for something.
I know, but you keep repeating "This is nothing like '08...."
That, I think we all agree is somewhat true. The root causes are quite different. I just feel it's better to err on the side of caution, than preach the gospel of the government...
"Everything is fine, have no fear..." The more anyone says not to worry, the more you should worry.
Perhaps not, but it's pretty well established that the month thread began was the peak of the residential real estate market. Prices have fallen (though not substantially) every month since with a total drop in the median price 14% nationwide according to the National Association of Realtors.
I believe the original post stated that if you were looking to sell your home, you'd better hurry up and do it. Apparently, he wasn't wrong. Sure, many people have still been able to sell their homes, but overall, prices have come down from the top of the market.
Because I'm still actively looking for work (conveniently not counted among the unemployed), I've noticed some interesting jobs popping up lately. Namely, a lot of jobs in collections and a couple for repo men ("repo people," I guess, in this gender-fluid world of today
Or, it could mean nothing.
I've already completed a few as a part of new builds, but learned another fun fact the other day. We did our form cert rear setback on a new one a few weeks back where it's always 10' in this neighborhood I've built a bunch of new stuff in. The cut sheet came back at 9.87 but with the cert stamped good to go for all sides and ht of forms, and I was about to call my concrete guy to move the form when I realized it was written as all good... so I called my surveyor. He laughed and said look it up, 4 feet rear and sides Trumps all existing rear or side setbacks. What a joke honestly . Front setbacks still apply -
I ain't walkin'...paid this bitch off in '12! And eggs, loud little bastards out back better keep pulling their weight or they're pot pie filling!
Truth!Correct, they were falling from buildings, taking handfuls of sleeping pills or other means of checking out.
A few went to robbing banks, and I applauded them for their efforts
What I am saying is this, those who know what it's like, hopefully have learned and prepared. There are some that have never dug a ditch, or ever had to worry about making payments, or feeding their kids. I'd actually guess there are some here who had sacrificed as kids, to help their parents. Some may not care to admit to such things, but it all forms the people we are.
There are those who remember, and those who never have. I'm of the camp "Work like you're hungry, even if you're not". Not about money or getting the bright shiny car, more like some go to the gym. It keeps you from forgetting what it's like, and keeps you from forgetting where you've been.
Can't be the front unit. Or we could of left the existing house as is and called it ADU. Can be closer than a main house side and back. Some cities are different height limits.
Let's be real. Continued growth in the jobs market is sending a signal to the Fed that inflation is not decreasing. They released the minutes of their most recent meeting this week. It states that the .5% increase made in the last decision cycle was inadequate, and that larger and repeated increases will be made in 2023.Job growth way higher than expected by markets in December.
Private payroll growth surged by 235,000 in December, well above estimate, ADP reports
Private payrolls rose by 235,000 for the month, well ahead of the 153,000 Dow Jones estimate.www.cnbc.com
The end is near.
30% Of All Realtors Could Quit During Housing Crash
"The Housing Bubble has popped, but the Bubble mentality has NOT. 1.6 Million Realtors are still "holding on," thinking the Housing Market will improve in 2023."
THU JAN 5, AT 5:00 PM
I think they're onto yore thread.............................
.
I got the sarcasm.
Is the existing front unit on yours a pre - existing + non conforming front setback, or over 800 -1200 sq ft? Over 16' high ? I have one going on the front of a new build over the front garage 15' regular front setback with 450 sq ft ADU full kitchen / stackable w/d on top. Set back on the side is 42" because this neighborhood is 3' side anyway, but from what I've gathered it's 4' rear and sides no matter what anyone says for these things if pushed. I may convert my rear garage on alley to a 1 car since it already had a toilet / 3" trunk line, but although I like individuals.... I hate people enough to not want a tenant on my own property lol -
I dig this ADU stuff my daughter is going to buy a house in Long Beach. I told her it had to have ADU potential so I can have a place to live after I sell my place.
Collections ? Massive amounts of CC debt out there.Perhaps not, but it's pretty well established that the month thread began was the peak of the residential real estate market. Prices have fallen (though not substantially) every month since with a total drop in the median price 14% nationwide according to the National Association of Realtors.
I believe the original post stated that if you were looking to sell your home, you'd better hurry up and do it. Apparently, he wasn't wrong. Sure, many people have still been able to sell their homes, but overall, prices have come down from the top of the market.
Because I'm still actively looking for work (conveniently not counted among the unemployed), I've noticed some interesting jobs popping up lately. Namely, a lot of jobs in collections and a couple for repo men ("repo people," I guess, in this gender-fluid world of today
Or, it could mean nothing.
I just got off the phone not long ago. Referral from here for a ADU in Long beach. Signal hill to be exact. Going by next week to check it out. Existing structure to be converted. I mentioned $2200 a month rent and they feel 2k is more realistic.
She is renting in Bixby Knolls $1800 1br apt its been updated and is pretty nice. Its under market price a little I think anything decent or certainly new construction is going to be $2.2 a month or more.
I need to start renting rooms out.
Hold on to your hat, you’re going to need it as you’ll probably go bald before Armageddon hits.
Five to feed. . Thats gotta be 3-4+ a month in groceries?
We were NEVER TOLD prices will come down 30-40% in the original post, there you go again making up things to support your views. Great prices are coming, once evaluated I gave it 6-18 months and another 2 years of downturns which would put us up to the end of 2023 and mid 2024 for some great prices, I even made adjustments in the timeline if needed and said the market will adjust to the feds continual increases down the road as is fact.We were also told in the original thread and this one that “great prices are coming very soon” and 30%-50% drops in prices in as little as 90 to 180 days. The prices have not been great, nor did they come very soon.
The lesson is It’s never as rosy or as perilous as it is made out to be. Just look at any weather report for proof
A collections company that was my client in 2021 and was cutting costs for 2022 just repurchased our services for 2023. I’ll find more about their business pretty soon here.
Actually if you read all the updated news you would see new hires slowed dramatically and so did manufacturing. Exactly what the Fed is working towards.
Actually if you read all the updated news you would see new hires slowed dramatically and so did manufacturing. Exactly what the Fed is working towards.
Read your post....and I am glad you sold before the Drop finally glad you admitted price drops where and are coming so you sold lol. You seem to embellish all the time about facts when you are confronted with facts, I only posted this one thread not THREADS, and here is your post only a few posts ago...Show me where I said anything about the original posts of either thread…. and after that I’ll show you who’s making things up again
You keep forgetting I’m the one that sold at the peak before any of your threads regarding hat holding.
lol so you say job losses have to hit the MILLIONS for a housing prices collapse? And the facts show jobs are slowing it is happening. NO Armageddon as you state, those are your words to try to deter or deflect from the facts.
Read your post....and I am glad you sold before the Drop finally glad you admitted price drops where and are coming so you sold lol. You seem to embellish all the time about facts when you are confronted with facts, I only posted this one thread not THREADS, and here is your post only a few posts ago...
LargeOrangeFont said:
We were also told in the original thread and this one that “great prices are coming very soon” and 30%-50% drops in prices in as little as 90 to 180 days. The prices have not been great, nor did they come very soon.
The lesson is It’s never as rosy or as perilous as it is made out to be. Just look at any weather report for proof
A collections company that was my client in 2021 and was cutting costs for 2022 just repurchased our services for 2023. I’ll find more about their business pretty soon here.
you read what you want and ignore everything else.
God I hope so. Interestingly enough it appears we are in for labor shortages, higher wages and stubborn inflation for years to come. Boomers are retiring in the largest mass this year and leaving vacant seats they held onto for decades.Maybe they will learn to code
There you go again assuming. I sold all but 1 of my investment properties by the end of 2021 while prices were on the rise and yes I could have waited and made more money if I waited a bit but I like to get out earlier than later, sold the final one that we lived in at the end of March 2022. So once again you are wrong. I don't care if you take my fact finding seriously since I only post facts I research vs just spout off so I know I have data proving the statements.Where again are the words “original posts” as you claimed? Why are you taking it as if I personally said you made the claims?
This is why we can’t take you and your FACT finding seriously…
I knew price drops were coming in April ‘22…. Seemingly before you did?
I never said there won’t be price drops due to higher interest rates. I said we aren’t heading for a collapse in housing prices in 2022 or 2023 (18 months).
30% Of All Realtors Could Quit During Housing Crash
"The Housing Bubble has popped, but the Bubble mentality has NOT. 1.6 Million Realtors are still "holding on," thinking the Housing Market will improve in 2023."
THU JAN 5, AT 5:00 PM
I think they're onto yore thread boys.............................
I lost roughly 5% of further profit over what I made on the investments according to my figures but made the differences plus some investing the money in the stock market.
