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Old 05-30-2016, 08:28 AM
 
1,600 posts, read 940,726 times
Reputation: 1047

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Quote:
Originally Posted by TheSD View Post
The interest rates were nearly doubled in 2007. Sticker price might be higher but payments are lower.
Correct. Prices are only going up from here. Real estate won't be dropping ever again. This is the new normal.
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Old 05-30-2016, 08:47 AM
 
9,527 posts, read 30,495,575 times
Reputation: 6440
Quote:
Originally Posted by JohnAlt View Post
Didn't you buy at the peak last time? Your timing sucks.
Stupid kids keep growing, I totally blew timing when I was going to have a family.
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Old 05-30-2016, 12:41 PM
 
1,452 posts, read 1,574,227 times
Reputation: 850
Yup, at this point, I may just save up another half million then retire for cheap in southern Europe or South America. Better quality of life, friendlier people, less traffic outside city areas. Or buy a sailboat and live on it in the Caribbean. I have some friends there to hang with too. I just think a million for a San Diego, OC, or LA crapbox is not worth being a debt slave forever. Of course I am single no kids so can do this.
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Old 05-30-2016, 02:22 PM
 
28,115 posts, read 63,715,832 times
Reputation: 23268
But you would not be in debt if you paid cash for it...
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Old 05-30-2016, 03:21 PM
 
1,452 posts, read 1,574,227 times
Reputation: 850
Well its all relative as cash is not earning much in banks thanks to the FED and wall street bank$ters NIRP behavior. Stocks suck right now too. So hard to know where to park money. Land perhaps? I can buy several acres outside San Diego and build for retirement.
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Old 05-30-2016, 03:32 PM
 
Location: San Diego
50,371 posts, read 47,120,861 times
Reputation: 34107
I just looked over property in E Texas and Louisiana. I can get the equivalent house and never work again with the cash I have left over plus savings and retirement. It's only a matter of time. Checking out NC and Alabama on the next tour.
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Old 05-30-2016, 04:02 PM
 
28,115 posts, read 63,715,832 times
Reputation: 23268
California certain has made a lot of average citizens well off...

Seems every week someone I know or worked with is cashing out and buying out of State... it's good for them and but most of the folks that already live their often feel the opposite.
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Old 05-30-2016, 04:12 PM
 
Location: San Diego
50,371 posts, read 47,120,861 times
Reputation: 34107
Quote:
Originally Posted by Ultrarunner View Post
California certain has made a lot of average citizens well off...

Seems every week someone I know or worked with is cashing out and buying out of State... it's good for them and but most of the folks that already live their often feel the opposite.
So very true. I lived in CO when all the CA types moved in and ran up real estate. I didn't mind that, it was the politics they brought. The lack of assimilation or hostile takeover that sucked.
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Old 05-30-2016, 05:06 PM
 
7 posts, read 4,478 times
Reputation: 10
I heard this is not really a bubble even though the properties are overvalued.
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Old 05-30-2016, 05:38 PM
 
Location: Laguna Niguel, Orange County CA
9,807 posts, read 11,154,025 times
Reputation: 7997
Quote:
Originally Posted by 1AngryTaxPayer View Post
I just looked over property in E Texas and Louisiana. I can get the equivalent house and never work again with the cash I have left over plus savings and retirement. It's only a matter of time. Checking out NC and Alabama on the next tour.
If you insist on selling, fine, but no longer working may land you in a pinch unless you have some other income streams. Remember the higher price associated with RE taxes in Texas and the need for more AC/heat.


If you decide to move, let me throw my recommendation out for North Carolina from that list. It is a pretty state with a neat coastline. You could bank some cash, but temptation might set in and you might end up spending it. If you have discipline, ok. In any case, 350K will buy a nice home in NC. I still recommend working (or starting a business), however, if for no other reason, man must work lest he be become restless.
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