OC housing hits record high:655k (Irvine, Corona: real estate market, affordable house, unemployment benefits)

[Electrician4you]

Originally Posted by man4857

Nothing will ever be guaranteed. However...

Then what are you saying about our fundamental American value, that if you work hard, you will make it into the middle class? (Which is basically defined by the ability to own a home)

Appears to me that what you are suggesting is, you work hard, but you won't be guaranteed a ticket into the middle class.

Like you say. Nothing is guaranteed. You can bust your butt sun up to sun down and there is no guarantee you'll get to "middle class" own a house, have a wife kids and a retirement account

Originally Posted by man4857

Well... obviously. Then I ask you, why should families be priced out of a region they grew up in, if they're working hard and want to stay? Some are willing to move to cheaper areas like myself, others don't as they want to be around family. What do you say to those folks who work hard? Sorry but you gotta leave? Something is morally wrong with this mentality.

Why wouldn't or shouldn't they be priced out? Life moves on man. It seems to me that you think that if they work hard and they grew up there that makes them special or somehow that gives them a special pass. Sorry it just doesn't work that way.
Buyer 1 lives in the neighborhood. Buyer 2 and Buyer 3 dont live in the area but they all want the same house. Buyer 2 offers more than Buyer 1. Buyer 3 offers even more and gets the house.
Buyer one is priced out.

[LuvSouthOC]

Originally Posted by man4857

Edit:
This is why, I call on the government to do something about it. If investing is getting out of control which appears it's headed that way, restrict it. Not allow anyone to buy a house unless they use it as their principal residence.
Using money as a tool, to push people around flauting your power, is not how money is meant to be used, because let's face it, some are responsible, and some are irresponsible with power.

If you can't figure out what's this problem detailed in a macroeconomics course, I'll even spell it out for you, it's the concept of the marginal propensity to consume. Blaming others because they can't get to your level is very childish and you ought to reevaluate what are the real effects and how does money flow in an economy before calling someone like myself "entitled".

Would this rule apply only to areas like OC where you would like to live? Should it be applicable in cheaper areas like Arizona? What about people who have second homes, one in, say, Minnesota, and the other in Yuma?

[man4857]

Originally Posted by Electrician4you

Like you say. Nothing is guaranteed. You can bust your butt sun up to sun down and there is no guarantee you'll get to "middle class" own a house, have a wife kids and a retirement account





Why wouldn't or shouldn't they be priced out? Life moves on man. It seems to me that you think that if they work hard and they grew up there that makes them special or somehow that gives them a special pass. Sorry it just doesn't work that way.
Buyer 1 lives in the neighborhood. Buyer 2 and Buyer 3 dont live in the area but they all want the same house. Buyer 2 offers more than Buyer 1. Buyer 3 offers even more and gets the house.
Buyer one is priced out.

I'm not going to repeat myself again, see 3 posts above.

[man4857]

Originally Posted by LuvSouthOC

Would this rule apply only to areas like OC where you would like to live? Should it be applicable in cheaper areas like Arizona? What about people who have second homes, one in, say, Minnesota, and the other in Yuma?

There are 2 ways to solve this problem. Restrict the geography or lower the investment capital available.
What's the correct way?
The way that boosts the economy the most (i.e. when people spend more), and the only way that happens is if you give people who don't have any money some (i.e., homeless, poor, working, middle classes). How? Government taxation is the only way, otherwise it's called "stealing" when it's from person to person.

What's the "correct" way politically to execute? I don't even know what to tell you. Lobbyists will outspend you to start a smear campaign. This is income inequality and this is why Sanders reiterated it's such a big problem people don't understand the effects.

[LuvSouthOC]

Originally Posted by man4857

There are 2 ways to solve this problem. Restrict the geography or lower the investment capital available.
What's the correct way?
The way that boosts the economy the most (i.e. when people spend more), and the only way that happens is if you give people who don't have any money some (i.e., homeless, poor, working, middle classes).

What's the "correct" way? I don't even know what to tell you. This is income inequality and this is why Sanders reiterated it's such a big problem people don't understand the effects.

My strong preference is for laissez faire economics. The only restrictions I would even remotely consider would be on foreign investors as they are unnaturally contorting the market.

Concern over income inequality is a ruse. We import millions of poor yearly. If we were truly concerned about such a nonsensical and unattainable Utopian vision, we would never do such a thing.

[Electrician4you]

Originally Posted by man4857

I'm not going to repeat myself again, see 3 posts above.

All I read from you is posts crying about how OC is too expensive and how it's unfair. Dude OC has ALWAYS been expensive. Sure once in awhile a gold nugget fell through the cracks. There was a time to buy in 09/10. They were literally just about giving houses away.
While you may not be able to fully time the market you can get close. I was desperately bidding in 09/10. Lots of people f'ed themselves because they sat on the fence waiting for the market to go down even more. So for a few thousand they screwed themselves. I bet they would be snapping up those houses instead of waiting if given the chance again. Those same people are on here praying and hoping the market fails just do they can gleefully say I told you so. AFAIAC F it you snooze you lose.
Like I said before while the market may be local the buyers are no longer local. And they haven't been for the last 6-7 years. Everyone knew investors were buying like crazy. You're competing with a guy from Hong Kong who has a billion dollar hedge fund and is looking to invest. Breaking news Life isn't fair

[man4857]

Originally Posted by LuvSouthOC

My strong preference is for laissez faire economics. The only restrictions I would even remotely consider would be on foreign investors as they are unnaturally contorting the market.

Concern over income inequality is a ruse. We import millions of poor yearly. If we were truly concerned about such a nonsensical and unattainable Utopian vision, we would never do such a thing.

How about this we do a statistical survey of all properties being bought and put on the market in America, and see who's buying it and for what purpose? Until we know this, we can't make a decision, period. Blaming things or people isn't helping if you can't back it up.

I'm not advocating for getting rid of laissez faire. We're still capitalists, but you have to recognize there's a downside to everything. Government is there to regulate aspects of an economy so that stuff like this doesn't happen. Too many lobbyists are pushing left and right screwing up the policies.

[man4857]

Originally Posted by Electrician4you

All I read from you is posts crying about how OC is too expensive and how it's unfair. Dude OC has ALWAYS been expensive. Sure once in awhile a gold nugget fell through the cracks. There was a time to buy in 09/10. They were literally just about giving houses away.
Like I said before while the market may be local the buyers are no longer local. You're competing with a guy from Hong Kong who has a billion dollar hedge fund and is looking to invest. Breaking news Life isn't fair

So you rather screw over your own citizens than to fix the problem? Some patriot you are.

[Electrician4you]

Originally Posted by man4857

So you rather screw over your own citizens than to fix the problem? Some patriot you are.

You're kidding right? I'm unpatriotic.......why exactly? Because I believe people are free to do as they please with their money to invest it?

[man4857]

Originally Posted by Electrician4you

You're kidding right? I'm unpatriotic.......why exactly?

You would rather allow a foreign investor to buy up tons of property here in the US and displace many families, rather than making the government focus on our own citizens but tell our own displaced citizens, sorry you snooze you lose?

Sorry but I wasn't born at the correct time, and grow up to be an adult at the correct time to get into the market when it was still relatively affordable. And because of this, it's my fault? How?