When is the Next CA Housing Price Collapse Supposed to Happen? (costs, best)

[2sleepy]

Originally Posted by bad debt

So your logic is if Prop 13 is removed then the price of "everything" including "groceries, Walmart, clothing, electronics, household goods" will"double". Your words.

How come in states where Prop 13 doesn't exist the prices of those goods aren't double what they are here? I am SUPER curious to hear your explanation.

me too, Nevada has had a split roll property tax for a long time and I haven't seen prices double there

[Moddedintegra56]

isnt prop 13 reform will effect commercial and industrial property?

But at the sametime i wouldnt vote for it as it may lead to push to effect residential or risk said commerical/industrial businesses to bounce out of CA causing lost of jobs.

Anyways, with how difficult it is to obtain a mortgage now and many putting 20% down or more, if there is a housing crash, it wont dip as low as the housing crisis years.

[D-Doc]

Originally Posted by Tulemutt

Please do (leave). Makes perfect sense to me you should.

And take 10-20 million more people with you. Texas. Arizona. Idaho. Wherever.

Don't care if it makes sense to you or not. I'll do so if I choose or remain if I choose. Here's to helping prop 13 pass! Cheers.

[D-Doc]

Originally Posted by Moddedintegra56

i

Anyways, with how difficult it is to obtain a mortgage now.

I keep hearing this and it confuses me. Have you gone house shopping lately? It's easy as hell to get pre-qualified and they will approve for an amount far greater than what one can reasonably pay. Ask me how I know. I make decent dough but they approved me for an absurd amount that I wouldn't dare lock myself into. That's more than one lender as well.

[Tulemutt]

Originally Posted by D-Doc

Don't care if it makes sense to you or not. I'll do so if I choose or remain if I choose. Here's to helping prop 13 pass! Cheers.

And I don’t care if you care if I don’t care if you care. Here’s to you having my support on your journey: Cheers!

[OptimusPrime69]

I just wanna buy a 2 bedroom/2 bathroom place that isn't in a complete craphole for like $350,000.
lol, that'll never happen, but one can dream.

[Ultrarunner]

Originally Posted by OptimusPrime69

I just wanna buy a 2 bedroom/2 bathroom place that isn't in a complete craphole for like $350,000.
lol, that'll never happen, but one can dream.

Never is measured in cycles in Real Estate... 4 bedroom homes with bay views in the Oakland Hills were in your target market 2009-12...

I have been through several down turns but nothing like the last.

Thing is even those with the means and ability to buy mostly didn't... except for investors snapping up homes because they had cash and could buy as-is...

I had a mortgage that I wanted to refi for rate... not a chance yet my income was stable and I had a ton of equity and no credit issues... was told to look at TARP... crazy!

Went to my credit union and they made it happen.

Hospital Work tends to be regular... yet only one that I encouraged jumped in and bought a foreclosure... she was a single mom and with a daughter... even her parents were telling her not too...

She bought a foreclosure and held on... and in hindsight is seen as brilliant... plus the new rent at the apartment is now more than her mortgage... plus her home has more than doubled in value... of everyone she was the only one I encouraged that followed through...

The opposite is the reality... many seen as smart for walking away from their mortgage and renting for half the cost... well... we all know in the SF Bay Area this was short lived and for many they had it all but gave up... again... not that they couldn't have simply stayed the course.

Many companies today are less dependent on location and the numbers will show a increasing stream of relocations out of state...

Bright 20 and 30 somethings leaving with the blessing of the parents... who would have thought.

In my own little circle these brightest of the bright... Santa Clara and Stanford grads relocating to Austin TX... again, who would have thought???

I wonder how many that say they are waiting for it all to crash would really act?

[Moddedintegra56]

Originally Posted by D-Doc

I keep hearing this and it confuses me. Have you gone house shopping lately? It's easy as hell to get pre-qualified and they will approve for an amount far greater than what one can reasonably pay. Ask me how I know. I make decent dough but they approved me for an absurd amount that I wouldn't dare lock myself into. That's more than one lender as well.

well its tougher than it was before where there was no income verification lol. so yea its easy to prequalify but before closing there are tons of paperwork/proof and again closer till closing to make sure the amount you say you have and make is still the same.

[mysticaltyger]

Originally Posted by evening sun

Well, if you are not home owners, I presume you are renting, so increase on tax translates to higher rents.

How people don't comprehend this simple truth is beyond me. It's like they believe if there's not a line item saying "property tax" on the rent, then property taxes paid by the owner can't be figured into the rent paid.

[1AngryTaxPayer]

Originally Posted by OptimusPrime69

Voting for prop 13 to pass. Sucks for home owners if it passes, but I'm not one, so I literally don't care....

You will when your rent increases.