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Old 06-28-2011, 03:58 PM
 
547 posts, read 1,436,635 times
Reputation: 440

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Quote:
Originally Posted by desertsun41 View Post
I always agree with Chet. He is one of the smarter posters in the home forums with myself. His advice is good except I wonder if his positive thinking is just a bit too positive. I too have my finger right on the pulse of this industry and what I see is no banks are lending for residential additions and few are lending for new construction unless their risk is zero.

You said something about lending on future value. No way. For the first time in American history, homes are depreciating at a faster rate then automobiles. There is no future value in our sights unless of course you listen to the crooked corrupt politicians who paint a rosy picture of the economy which they even refuse to name properly. We are in a worse depression then 1928 and things are deteriorating further. By all neutral non government statistics we are in a deep DE-pression. The Re-cession ended in 08.

All that said...why in hell would you want to put that kind of money into a losing depreciating asset? That is crazy. Within another year or so 30 year mortgages will be non existent as they come to an end. In 10 years we will be a nation of renters. Who who would be able to afford to buy your over sized house some day?

More power to you and your dreams my friend. Pipe dreams that is.
Well despite you anointing yourself one of the smartest people on the boards I'm going to go ahead and disagree with you. The Great Depression had 25% unemployment compared to the single digit unemployment the U.S. currently has. Cars, on average, lose 40% of their value in the first two years and 50% over three years compared to housing in Austin which has increased roughly 16% over three years.

Among the wide variety of concepts you seem to have difficulty understanding is the concept of localized markets (though even on a national level your comments are demonstrably false). Real estate prices and lending standards are dependent on the circumstances of the local economy, which drives the wages and population shifts that shape housing prices.

If you want to help me understand how I am crazy for wanting to pay $150 per square foot in construction costs for an asset that is immediately worth $300 per square foot you're going to have to bring facts - and not conjecture - with you.
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Old 06-28-2011, 10:30 PM
 
Location: Houston, Texas
10,447 posts, read 49,722,494 times
Reputation: 10618
Quote:
Originally Posted by buffettjr View Post
Well despite you anointing yourself one of the smartest people on the boards I'm going to go ahead and disagree with you. The Great Depression had 25% unemployment compared to the single digit unemployment the U.S. currently has. Cars, on average, lose 40% of their value in the first two years and 50% over three years compared to housing in Austin which has increased roughly 16% over three years.

Among the wide variety of concepts you seem to have difficulty understanding is the concept of localized markets (though even on a national level your comments are demonstrably false). Real estate prices and lending standards are dependent on the circumstances of the local economy, which drives the wages and population shifts that shape housing prices.

If you want to help me understand how I am crazy for wanting to pay $150 per square foot in construction costs for an asset that is immediately worth $300 per square foot you're going to have to bring facts - and not conjecture - with you.
Oh no Mister, I am correct. You are correct that our great state of Texas is better off then the rest of the country except for the construction trades which we are next to the worst in the nation only beat by Nevada. You are not a stupid person. What are you doing listening to your government? They lie worse then cops. The unemployment is indeed over 25% nationally. Your govt just conveniently leaves out important and relevant statistics so the numbers look better to the Sheep who just follow the brown hole.

We are in a full blown DEPRESSION by any neutral non government numbers. You don't know me and that fact don't bother me but that said, what I say will mean nothing to you because you feel all rosy and pink as you listen to what your (not mine) govt tells the news stations to report to the Sheep.

Aside from Texas do you have any idea the lost value of equity in America? How's $3 trillion over the past 5 years....poof...lost forever. Some places like Nevada, Florida, California and Michigan homes have lost 70% of their value of just 5 years ago. In Florida and Nevada, 23% of every home in the state are vacant and abandoned. But you may not see this since you have a great job and don't see all the hurt and pain outside the windows of your beautiful home in Austin. 73% of all Realtors have not renewed their license. Do you think that tells a story quite loudly?

Your numbers, beliefs and ideas were indeed sound 6 years or more ago but not now...even in Texas. Sorry but you need to catch up to current events in the world of real estate. Even in Texas most of the largest and oldest Builders have closed their doors and pulled the curtains down forever. It ain't happening man........anymore. It ain't coming back in my lifetime. The writing is on the wall and how sad is that. Screw the positive thinking crap. I'm a realist and tell the truth based on facts. I don't report what I wish the case might be, I tell what's going on.

Whatever you do...........good luck to you. You're sure going to need it.
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Old 08-12-2016, 02:33 PM
 
56 posts, read 76,005 times
Reputation: 39
Quote:
Originally Posted by desertsun41 View Post
Oh no Mister, I am correct. You are correct that our great state of Texas is better off then the rest of the country except for the construction trades which we are next to the worst in the nation only beat by Nevada. You are not a stupid person. What are you doing listening to your government? They lie worse then cops. The unemployment is indeed over 25% nationally. Your govt just conveniently leaves out important and relevant statistics so the numbers look better to the Sheep who just follow the brown hole.

We are in a full blown DEPRESSION by any neutral non government numbers. You don't know me and that fact don't bother me but that said, what I say will mean nothing to you because you feel all rosy and pink as you listen to what your (not mine) govt tells the news stations to report to the Sheep.

Aside from Texas do you have any idea the lost value of equity in America? How's $3 trillion over the past 5 years....poof...lost forever. Some places like Nevada, Florida, California and Michigan homes have lost 70% of their value of just 5 years ago. In Florida and Nevada, 23% of every home in the state are vacant and abandoned. But you may not see this since you have a great job and don't see all the hurt and pain outside the windows of your beautiful home in Austin. 73% of all Realtors have not renewed their license. Do you think that tells a story quite loudly?

Your numbers, beliefs and ideas were indeed sound 6 years or more ago but not now...even in Texas. Sorry but you need to catch up to current events in the world of real estate. Even in Texas most of the largest and oldest Builders have closed their doors and pulled the curtains down forever. It ain't happening man........anymore. It ain't coming back in my lifetime. The writing is on the wall and how sad is that. Screw the positive thinking crap. I'm a realist and tell the truth based on facts. I don't report what I wish the case might be, I tell what's going on.

Whatever you do...........good luck to you. You're sure going to need it.

Great insight. LOL.
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