Has the bottom hit? (Phoenix, Avondale: tax lien, sale, apartment complexes)

[smarty]

Originally Posted by azjack

Yes, even so-called cashflow positive price levels lose that status as rental rates drop. But rents will never fall, just like the NAR said that house prices never fall.

I'm lost

I thought rent tracks to income and employment rate... You mean to tell me AZ unemployment rate is higher than 7%... and will go much higher? or Are employers asking employees to take a 10-20% pay cut?

[Greatday]

Originally Posted by azjack

Yes, even so-called cashflow positive price levels lose that status as rental rates drop. But rents will never fall, just like the NAR said that house prices never fall.

I have a very positive cash flow - and the rental rates are going up

[Howard Roark]

I'm not accusing you of suspecting I'm gay. But I feel compelled to say here I'm neither gay nor bi, and I work with gays as well as lesbians. I just have a single lifestyle that harms no one and I would never want to initiate force, threats, or fraud against anyone.

If I was a husband and father, perhaps I would become overly protective and socially conservative like my own father was.

Tucson has a larger percentage environmentalists and that's why I assumed they are more socially liberal there. I lived there for four years.

Originally Posted by ArizonaBear

Frankly: I cannot recommend Tucson to anybody: the cost of living there is Phx class but the wages are lower for anybody below, say a Masters degree.

As for being 'liberal': I have my doubts............several Gay folks told me flat out that Phx has a much better scene. BTW: I am straight.

[markas214]

Originally Posted by Captain Bill

As Warren Buffet said, and this is not the exact quote; with recessions comes opportunity.

]

I like this Buffet quote:



Feb. 28 (Bloomberg) -- Billionaire Warren Buffett said the economy will be “in shambles” for the rest of this year as financial firms take losses tied to reckless loans made during the housing boom. “that the economy will be in shambles throughout 2009 -- and, for that matter, probably well beyond,” he wrote.

[Howard Roark]

I remember in 2007 he bought millions of shares of Bank of America in the high $40s. I think he sold most of them in the $20s. Huge loss for Berkshire Hathaway.

I learned that I am better off spending time listening to his cousin Jimmy Buffet than listening to Warren Buffet.

Originally Posted by markas214

I like this Buffet quote:



Feb. 28 (Bloomberg) -- Billionaire Warren Buffett said the economy will be “in shambles” for the rest of this year as financial firms take losses tied to reckless loans made during the housing boom. “that the economy will be in shambles throughout 2009 -- and, for that matter, probably well beyond,” he wrote.

[ArizonaBear]

Originally Posted by Howard Roark

I'm not accusing you of suspecting I'm gay. But I feel compelled to say here I'm neither gay nor bi, and I work with gays as well as lesbians. I just have a single lifestyle that harms no one and I would never want to initiate force, threats, or fraud against anyone.

If I was a husband and father, perhaps I would become overly protective and socially conservative like my own father was.

Tucson has a larger percentage environmentalists and that's why I assumed they are more socially liberal there. I lived there for four years.

I was using 'Gays' as a litmus test on whether an area is truly Liberal or not.........that crowd is an 'indicator species', as it were.

If I inferred that you were (since you stated you are straight); I apologize.

[Ponderosa]

Originally Posted by markas214

I like this Buffet quote:



Feb. 28 (Bloomberg) -- Billionaire Warren Buffett said the economy will be “in shambles” for the rest of this year as financial firms take losses tied to reckless loans made during the housing boom. “that the economy will be in shambles throughout 2009 -- and, for that matter, probably well beyond,” he wrote.

So why do you like that quote? Do you share the Jacks' schadenfreude at the millions of people worldwide who are suffering in this recession? Loss of jobs, incomes, homes, dreams in this country, maybe starvation and death in others? Oh, you hope to buy a house at a bargain. Are you feeling smug and self-righteous because you haven't lost your job (yet)? It seems as if some posters on this forum can hardly contain their glee at the human misery that is unfolding.

[markas214]

Originally Posted by Ponderosa

So why do you like that quote? Do you share the Jacks' schadenfreude at the millions of people worldwide who are suffering in this recession? Loss of jobs, incomes, homes, dreams in this country, maybe starvation and death in others? Oh, you hope to buy a house at a bargain. Are you feeling smug and self-righteous because you haven't lost your job (yet)? It seems as if some posters on this forum can hardly contain their glee at the human misery that is unfolding.

A bit quick to judge there. My quote was as a reply to Bill's regarding this being a time of opportunity. In my opinion it is not as far as real estate.

How in the world did you read glee at others misfortune into my post? Don't be so quick to pass judgement next time. I spend more of my time with sick, dying, mentally challenged, poor, illiterate, disadvantaged, etc., etc, than 99% of the population. I've taken in and supported homeless children, school mates of my kids, who have loser parents and were evicted from their homes.

I am a libertarian for individual rights but I favor progressive taxes and the government helping those most in need. I hate the intolerant, let them fend for themselves right wing nuts. Your reply is totally off base and offensive. You do not know me. How can you possibly pass judgement by my posting a quote that was in no way saying what you accuse me of being?

[Ponderosa]

Originally Posted by markas214

A bit quick to judge there. My quote was as a reply to Bill's regarding this being a time of opportunity. In my opinion it is not as far as real estate.

How in the world did you read glee at others misfortune into my post? Don't be so quick to pass judgement next time. I spend more of my time with sick, dying, mentally challenged, poor, illiterate, disadvantaged, etc., etc, than 99% of the population. I've taken in and supported homeless children, school mates of my kids, who have loser parents and were evicted from their homes.

I am a libertarian for individual rights but I favor progressive taxes and the government helping those most in need. I hate the intolerant, let them fend for themselves right wing nuts. Your reply is totally off base and offensive. You do not know me. How can you possibly pass judgement by my posting a quote that was in no way saying what you accuse me of being?

You're right. I had been seeing red about the I-told-you-so joy over the demise of our economy by some posters on this topic and unfairly jumped on your post. But you are not one of them. I apologize for quoting you in expressing my disgust for these people.

[Captain Bill]

Originally Posted by Howard Roark

I remember in 2007 he bought millions of shares of Bank of America in the high $40s. I think he sold most of them in the $20s. Huge loss for Berkshire Hathaway.

I learned that I am better off spending time listening to his cousin Jimmy Buffet than listening to Warren Buffet.

Even Babe Ruth struck out a lot of times.

Warren Buffet is still one of, if not the most, successful investor of all times. The people who invested with him when he first started, and even much later, and held on, have made millions. Of course Buffet has gone from rags to multi-billionaire.