Why Aren't You Selling Now? (2015, renting, houses)

[Peasy973]

joejerryronnie,

Your post is true guide to wealth building in the US. Everybody can have money in bull market but it's when a downturn hits us when you find out who really has money.

[phantompilot]

I sold - we spun down a REIT last year and we're out of CA real estate. The market will turn soon and we didn't want to be left holding the bag.

We went into crypto and it has been 10x better than RE.

Soon we'll be out of that too.

All things have cycles. You don't want to be married to an investment - its one thing to buy and hold RE but you have to understand that's an intergenerational plan. If you have decades to mature an investment, great. Buy all the RE you want, landlord it, take your 4%. And when you're an old geezer or in the ground your kids/grandkids can duke it out who is gonna buy out who (if they have any cash to do that with).

But if you want more fluidity and flexibility for money and plan on using it while you're actually around, you have to be open to opportunities on all kinds of time scales. Locking millions up in CA real estate was a hugely risky play - look, nobody knows the future, and RE prices are largely dependent on policies that can change overnight. Taxes, mortgage rates, rent control, land use regs, etc and so forth.

Then what are you gonna do?

I see new buyers putting ALL their eggs in their one basket - a house in Silly-con Valley, and I shudder, because a lot of these people can actually lose everything they have at risk. And then some.

And it happened before, and it will happen again, and some of these people will be hosed.

[the topper]

Originally Posted by joey_mcmarbles

I wasn't dissing San Jose, just like I wasn't dissing Fresno, or Kabul, Afghanistan by leaving them out. None of those places are important to the tech industry, that's not a diss, it's a fact.

Santa Clara is actually important to the tech industry, it is home to Intel, Nvidia and AMD, among others. Nothing in San Jose even comes close, not even close.

SJ is home to Hewlet Packard, Cisco, Ebay, Adobe, and Broadcom. 8 Fortune 500 are now located in SJ

[joey_mcmarbles]

Originally Posted by the topper

SJ is home to Hewlet Packard, Cisco, Ebay, Adobe, and Broadcom. 8 Fortune 500 are now located in SJ

Great, all you need is a time machine to go back to 1999 when those companies were relevant and San Jose has it made.

[phantompilot]

Originally Posted by joey_mcmarbles

Great, all you need is a time machine to go back to 1999 when those companies were relevant and San Jose has it made.

Cisco is very much relevant...but HP isn't based in SJ, its based in PA.

The SF Bay Area largely is dependent on technology in any event...that's not new.

If this is a "San Jose is the ****" and "Santa Clara is a sleepy little burb" thread, that seems unfair as Santa Clara is HUGE (physically AND in terms of tech companies based there).

[nobodysbusiness]

Originally Posted by joey_mcmarbles

The Bay Area from Santa Clara (City, not County) to San Francisco is the "center of the world" in some respects, it's more than just a place to live. Any place you move to will not compare, if you sell you will never be able to move back, always looking back at the life you could have had in paradise. For some there is more to life than the size of your house, or how much land you own. Life is about community, education, prosperity, technology. And the Bay Area has it the best. You don't need to come onto this forum to try and justify your decision to move away, you made the choice now live with it, and don't forget the lunch special at Arbys.

As for my kids and grandkids, don't presume to know their future because you don't. They can accomplish anything they put their minds to. If an adopted Bay Area kid can invent the future of computing, get fired, come back and invent the future of telephones, becoming a multi-billionaire in the process, then anything is possible.. in the Bay Area.

Wow. Got a little offended? If you're so happy, why would you care what anyone else thinks?

And for the record, the beach is very cool and there are no "Arby's" in my town - what a weird, random comment.

Enjoy your strip malls and suburbia.

[capoeira]

Originally Posted by bobby_guz_man

Anyways, for the OP's question, my answer is simple:

Bay Area is the best place on the planet.

The bay area is not even one of the top three places in California!

[bobby_guz_man]

Originally Posted by phantompilot

Cisco is very much relevant...but HP isn't based in SJ, its based in PA.

Looks like you missed out on some recent Silicon Valley news HP is in SJ now

If this is a "San Jose is the ****" and "Santa Clara is a sleepy little burb" thread, that seems unfair as Santa Clara is HUGE (physically AND in terms of tech companies based there).

Santa Clara is HUGE? What are you smoking? It's a very tiny little town.

[bobby_guz_man]

Originally Posted by nobodysbusiness

Wow. Got a little offended? If you're so happy, why would you care what anyone else thinks?

And for the record, the beach is very cool and there are no "Arby's" in my town - what a weird, random comment.

Enjoy your strip malls and suburbia.

Oh we'll enjoy our strip malls and suburbia. We'll also enjoy having beaches, beautiful forests, ski resorts 4 hours away, a booming supercharged economy, thousands of restaurants, thousands of bars, thousands of ways to entertain ourselves.

Don't be so offended man. Enjoy the place you moved to. No need to come into our forum and be a sour grape about it.

[bobby_guz_man]

Originally Posted by joey_mcmarbles

Great, all you need is a time machine to go back to 1999 when those companies were relevant and San Jose has it made.

Oh, they're all still very relevant Just because they're older companies doesn't mean that they can't perform. They're doing just fine.