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Old 07-11-2017, 11:26 PM
 
Location: Bay Area
402 posts, read 538,273 times
Reputation: 334

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Quote:
Originally Posted by phantompilot View Post
So glad I just sold my last property (SJ, not one of these ultra bubbly fantasy land areas...but not too far away either).

The crash is literally "around the corner".

This behavior just confirms it. When people act irrationally en masse, its a great portend of a massive shift/change in direction.

I wonder what the new lows will be. 50% cut now seems oddly conservative.
I beat sellers will pay buyers some money just to take their homes for free since everybody will be laid off and no able to pay mortgage anymore.
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Old 07-12-2017, 12:54 PM
 
Location: Bay Area, CA
73 posts, read 86,853 times
Reputation: 114
Quote:
Originally Posted by phantompilot View Post
So glad I just sold my last property (SJ, not one of these ultra bubbly fantasy land areas...but not too far away either).

The crash is literally "around the corner".

This behavior just confirms it. When people act irrationally en masse, its a great portend of a massive shift/change in direction.

I wonder what the new lows will be. 50% cut now seems oddly conservative.


May i borrow your crystal ball when you're done with it?
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Old 07-12-2017, 01:07 PM
 
455 posts, read 578,191 times
Reputation: 383
I have family that own homes in SJ, they will never sell because prop 13 keeps their taxes low. My Mother inlaw if she sold her big house now as an empty nester, she would end up paying more.
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Old 07-13-2017, 12:31 AM
 
5,888 posts, read 3,222,322 times
Reputation: 5548
Quote:
Originally Posted by Hacker1234 View Post
I have family that own homes in SJ, they will never sell because prop 13 keeps their taxes low. My Mother inlaw if she sold her big house now as an empty nester, she would end up paying more.
Prop 13 won't be around very much longer. Wake up and smell what the left is cookin.

I'll bookmark this thread and check back on it to see how you all like the crow.
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Old 07-13-2017, 12:36 AM
 
5,888 posts, read 3,222,322 times
Reputation: 5548
Quote:
Originally Posted by dogandcat View Post
I beat sellers will pay buyers some money just to take their homes for free since everybody will be laid off and no able to pay mortgage anymore.
A lot of people won't be able to make their mortgage payments. The couple I just sold my property to is going to be paying about $7200/month.

If just one of them doesn't have a job, its over. They might be able to hang on a while, but not for very long.

And this is a "well qualified" buyer...they had NO contingencies.
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Old 07-13-2017, 07:27 AM
 
4,369 posts, read 3,721,273 times
Reputation: 2479
Quote:
Originally Posted by phantompilot View Post
Prop 13 won't be around very much longer. Wake up and smell what the left is cookin.

I'll bookmark this thread and check back on it to see how you all like the crow.
I'll see kids drag race down coffin rd in deuce coupes before they repeal prop 13: (hint: coffin rd doesn't even exist anymore).
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Old 07-13-2017, 01:15 PM
 
661 posts, read 690,445 times
Reputation: 874
Quote:
Originally Posted by Perma Bear View Post
Not all my money no and I try to save/invest 3k a month usually.
You should check out the financial independence subreddit if you aren't already aware of it. Just wait this cycle out buddy and be ready when times are bad.
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Old 07-13-2017, 02:24 PM
 
169 posts, read 232,692 times
Reputation: 116
Quote:
Originally Posted by phantompilot View Post
Prop 13 won't be around very much longer. Wake up and smell what the left is cookin.

I'll bookmark this thread and check back on it to see how you all like the crow.
Yeah.. anh the ones get pension for life and state, cities workers love it. They can go vacation longer.
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Old 07-13-2017, 02:53 PM
 
4,369 posts, read 3,721,273 times
Reputation: 2479
Quote:
Originally Posted by TheFlats View Post
You should check out the financial independence subreddit if you aren't already aware of it. Just wait this cycle out buddy and be ready when times are bad.
It's cheaper to retire than buy a house.
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Old 07-13-2017, 03:21 PM
 
Location: Bay Area
402 posts, read 538,273 times
Reputation: 334
Quote:
Originally Posted by Perma Bear View Post
It's cheaper to retire than buy a house.
My opinion that's a shame for a healthy and educated young man to make so low living in Silicon Valley with all of the opportunities it can offer.
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