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Old 07-03-2016, 07:42 AM
 
18,172 posts, read 16,384,702 times
Reputation: 9328

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Quote:
Originally Posted by Perma Bear View Post
It's simple math Watson. There are houses in SF that pay 1200 a year in taxes because of prop 13. I'm relegated to stocks because I can't qualify for a mortgage because I wasn't born in 1946 which is also easy money but still.
So What????

Are you angry that some people bought stocks decades ago and are now reaping a profit on their wise choice, beyond what you are?

Some people bought houses decades ago and are now reaping a profit. So what?

They do not owe anyone anything beyond taxes. A renter owes them whatever they wish to charge and if the renter doesn't like it .... they can move.

Note; I am not a Landlord.

Yes I was born in 1946 but bought my first home when I was 32. I worked hard, saved and did the best I could. My family, my mother and I, were very poor and I had to go to work when I graduated from High School.

Our life is what we make it.
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Old 07-03-2016, 07:48 AM
 
4,369 posts, read 3,721,273 times
Reputation: 2479
Quote:
Originally Posted by expatCA View Post
So What????

Are you angry that some people bought stocks decades ago and are now reaping a profit on their wise choice, beyond what you are?

Some people bought houses decades ago and are now reaping a profit. So what?

They do not owe anyone anything beyond taxes. A renter owes them whatever they wish to charge and if the renter doesn't like it .... they can move.

Note; I am not a Landlord.

Yes I was born in 1946 but bought my first home when I was 32. I worked hard, saved and did the best I could. My family, my mother and I, were very poor and I had to go to work when I graduated from High School.

Our life is what we make it.
Adjusted for inflation housing was cheaper. There was FAR more opportunity than now. It's almost a handicap being born later in this case.
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Old 07-03-2016, 08:59 AM
 
18,172 posts, read 16,384,702 times
Reputation: 9328
Quote:
Originally Posted by Perma Bear View Post
Adjusted for inflation housing was cheaper. There was FAR more opportunity than now. It's almost a handicap being born later in this case.
Nope, adjusted for inflation, pricing is about the same, it is wages that are not, but that is life. It ain't gonna change.

In other less "popular" areas the prices are much cheaper. Supply and demand always rules. The popular parts of CA will always be more expensive and people can choose to live with it or leave. The Government cannot change it and in reality the politicians just make gestures as they know it won't work.

Make more and buy where you want or ....... everyone gets to make the choice.
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Old 07-03-2016, 08:59 AM
 
28,113 posts, read 63,642,682 times
Reputation: 23263
Quote:
Originally Posted by Perma Bear View Post
It's simple math Watson. There are houses in SF that pay 1200 a year in taxes because of prop 13. I'm relegated to stocks because I can't qualify for a mortgage because I wasn't born in 1946 which is also easy money but still.
I wasn't born in 1946 either...

Prop 13 applies equally to EVERY assessable property in California without exception.

What you seem to indicate is you are unwilling to put in the time/struggle/hardship starting up.

If the owner fits the model you created all you need to do is hold for 40 or 50 years and you will be in like Flynn...

Stocks hold no interest for me personally... bless those that sit home in their PJ's and make it work with a few computer keystrokes...

Operating Residential Real Estate is full of pitfalls and even more in San Francisco

If it wasn't NO ONE would ever sell and we know Landlords sell all the time...
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Old 07-03-2016, 09:01 AM
 
18,172 posts, read 16,384,702 times
Reputation: 9328
Quote:
Originally Posted by Ultrarunner View Post
I wasn't born in 1946 either...

Prop 13 applies equally to EVERY assessable property in California without exception.

What you seem to indicate is you are unwilling to put in the time/struggle/hardship starting up.

If the owner fits the model you created all you need to do is hold for 40 or 50 years and you will be in like Flynn...

Stocks hold no interest for me personally... bless those that sit home in their PJ's and make it work with a few computer keystrokes...

Operating Residential Real Estate is full of pitfalls and even more in San Francisco

If it wasn't NO ONE would ever sell and we know Landlords sell all the time...
Kinda like stockholders sell stock all the time.
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Old 07-03-2016, 09:03 AM
 
4,369 posts, read 3,721,273 times
Reputation: 2479
Quote:
Originally Posted by Ultrarunner View Post
I wasn't born in 1946 either...

Prop 13 applies equally to EVERY assessable property in California without exception.

What you seem to indicate is you are unwilling to put in the time/struggle/hardship starting up.

If the owner fits the model you created all you need to do is hold for 40 or 50 years and you will be in like Flynn...

Stocks hold no interest for me personally... bless those that sit home in their PJ's and make it work with a few computer keystrokes...

Operating Residential Real Estate is full of pitfalls and even more in San Francisco

If it wasn't NO ONE would ever sell and we know Landlords sell all the time...
It takes 5 seconds to buy an index fund and you don't HAVE to sell
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Old 07-03-2016, 09:07 AM
 
28,113 posts, read 63,642,682 times
Reputation: 23263
Quote:
Originally Posted by Perma Bear View Post
Adjusted for inflation housing was cheaper. There was FAR more opportunity than now. It's almost a handicap being born later in this case.
If you didn't get drafted and sent to some God Awful war or die of sickness/disease... true enough, those that served could use their earned benefits to buy a home... guess what... they can still do that today.

I bought my first property in the late 1980's the same year I graduated from engineering school... Interest rates were often 12%+ and underwriting was much stricter than today... a person simply could not get a mortgage on an old SF Victorian with a brick foundation...

Family, friends etc... all said I was making a big mistake but since I was young I could afford to start over.

Hindsight is a wonderful thing...
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Old 07-03-2016, 09:11 AM
 
28,113 posts, read 63,642,682 times
Reputation: 23263
Quote:
Originally Posted by Perma Bear View Post
It takes 5 seconds to buy an index fund and you don't HAVE to sell
How is that working for you?

It is so much more involved to buy real estate... so much so I really think everyone should at least give it a try once...

Too much of dirt envy around here... I shouldn't be surprised as it really is human nature when times are good.

One only needs to look back a few years and find millions willingly and gladly walking away from property they owned having decided is simply was no longer worth owning...
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Old 07-03-2016, 10:51 AM
 
4,369 posts, read 3,721,273 times
Reputation: 2479
Quote:
Originally Posted by Ultrarunner View Post
How is that working for you?

It is so much more involved to buy real estate... so much so I really think everyone should at least give it a try once...

Too much of dirt envy around here... I shouldn't be surprised as it really is human nature when times are good.

One only needs to look back a few years and find millions willingly and gladly walking away from property they owned having decided is simply was no longer worth owning...
Quite well actually because I buy extra when people rush like herd animals toward a cliff
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Old 07-03-2016, 11:09 AM
 
28,113 posts, read 63,642,682 times
Reputation: 23263
Pretty much the same with me and property...

Buyer's Market and Seller's Market and so it goes...
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