Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
You don't know what prop 13 is so you lost your credibility.
When did I say I didn't know about prop 13. Regardless of prop 13, people are constantly selling property. I must say, you are making some of the most unintelligent and uniformed posts I have seen as of late. Perhaps you should spend a bit of time posting on some of the boards in the HCOL markets so that you can better educate yourself.
Here's a nice typical house. Permabear had said normal people don't buy million dollar houses, but that is clearly untrue -- normal people buy homes like this every day of the week.
When did I say I didn't know about prop 13. Regardless of prop 13, people are constantly selling property. I must say, you are making some of the most unintelligent and uniformed posts I have seen as of late. Perhaps you should spend a bit of time posting on some of the boards in the HCOL markets so that you can better educate yourself.
If people were actually selling their homes we wouldn't have such a massive shortage of sales. People who bought on decades ago hang in for dear life because 95% of the popular can't pay 10-20k property taxes. By your logic Phil Spector was a regular person because he made about as much as the people who could buy that house.
This forum Ian grossly misinformed if they think the majority of the population can afford to buy a cadillac in cash once a month (that's what you could do with the income required to afford the mortgage on that house).
Biased sample...old money may not flaunt their wealth but they certainly spend on real estate, alcohol, leisure, etc. Perhaps not in proportion to their income, but they don't all wear threadbare sportcoats with jeans and 20 year old loafers
You need to meet my neighbor. Former hedge fund company owner. Cheaper than I have EVER seen in my life for their own needs.
But they give a fortune yearly to charities. So much they are flown into these charities at the charities expense for fund raising, showing them how the money is spent.
And they refuse to spend money on a great meal. To each his own. They do dress like they are poor. While living in a million dollar plus home.
You need to meet my neighbor. Former hedge fund company owner. Cheaper than I have EVER seen in my life for their own needs.
But they give a fortune yearly to charities. So much they are flown into these charities at the charities expense for fund raising, showing them how the money is spent.
And they refuse to spend money on a great meal. To each his own. They do dress like they are poor. While living in a million dollar plus home.
If people were actually selling their homes we wouldn't have such a massive shortage of sales. People who bought on decades ago hang in for dear life because 95% of the popular can't pay 10-20k property taxes. By your logic Phil Spector was a regular person because he made about as much as the people who could buy that house.
This forum Ian grossly misinformed if they think the majority of the population can afford to buy a cadillac in cash once a month (that's what you could do with the income required to afford the mortgage on that house).
Looking at home sales data shows you are wrong. Secondly, who said anything about the majority of the population. You would be including people that are low income as well as those that haven't saved a dime. You seem to be jumping around on your comments.
Looking at home sales data shows you are wrong. Secondly, who said anything about the majority of the population. You would be including people that are low income as well as those that haven't saved a dime. You seem to be jumping around on your comments.
You're making preposterous comments like households who make 400k are super common.
You're making preposterous comments like households who make 400k are super common.
You must have a reading problem. Look at post 137. As I stated, they are often moving up in home (using increased equity), using savings and or borrowing from relatives. They also often have two incomes.
What is silly is your post about the property being bought by Chinese money laundering ( which has no factual basis), REIT (debunked if you look at ownership records) and tech CEOs (not enough of those to buying all this property).
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
