VERY SCARY
12 replies (most recent on top)
Lol. My mortgage payments on a 15 year is like $2000/month. Rent in my hood is like $3200/month for something 800sqft smaller....Lol...Yeah, renting makes sense...
Anonymous121235,
And yes, even if that were true, you still would be shut out of the housing market. Otherwise, you would have already bought in 2008-2010. But you still rent!
Yea, housing market crash coming for SD for sure
Anonymous121231,
Bullshit.. My H1-Bs that rent from me do just fine paying for my mortgage + property tax + hoa + mello ruse + insurance. Plus I float about a 4% cash flow on top of that...At least when I bought....With low interest rates, you can roughly break even, after the schedule A mortgage interest deduction on a 30year.
Anonymous121223 Rent money is not enough to pay mortgage, what type of tenants you get? they spoil your home, they complain every week, garage door issues, ac issues, bath room not working, sewage pipe broken (costs $9k), basically you will be paying 2k extra every month. For peace of mind I sell my home, even if get loss. SELL ING home is the best option. I have a home rented, now I have to spend all my rent I collected for repair including filthy carpet
I'm surprised so many of you amateurs still don't understand how the RE game works....The best deals always goes to the institutions and the seasoned investors who have the knowhow and connections to get the best deals... You end up buying at retail prices from us when we sell after marking things up....
Anonymous121212
Pff.. $800k for a house? Wow.. That's expensive... NOT! Where are you going to buy? Mira Mesa ???? Lol....
What stash? You have no stash? If you did..You would have already bought in 2008-2010.. But you didn't... Obviously....You missed the boat....Because you were probably one of the idiots that felt you can get a 1 acre beachfront property in delmar for $400k...And waited and waited after del mar fell 15% tops at the height of the credit bubble pop. I know people like you existed, because while some of us were spending $250/sqft in some rare REOs and short sales in the best parts of the county, you weren't there because there was NO competion. You were scared shitless, and felt RE prices would fall an additional 15-20% after already falling back to 2001 prices.
I guarantee you that in the rare instance that a few good deals do come up, you won't be getting them. People like me and my investment group will, because we'll be at the courthouse like we were last time looking at all the REOs. We'll be calling all the brokers/agents that has access to the short sales listings (because you do realize short sales aren't really open market sales, despite them appearing in the MLS)....And you'll still end up renting...Because this time, it won't be different...It will never be a good time for you to buy in as much for a lot of perma-bulls, it's always a good time to buy...
Oh dear renters, if things worked that way you would not be renting, right. If price go down, I will rent you my house, I will never sell it. I've bought really cheap and refinanced at 3.4%, I really do not care about what happens to QC, I am good - meanwhile, your rent will keep creeping up, I guarantee you that...
Yes, they will. Expect 5-10% discount by end '16. What you buy now fot $800k, it will be $720k by then. I am waiting patiently to use my stash. It was about time (+8-10yr from last correction). Life is good.
Cool, I'll pay a good price for it with cash, and shut out all the other buyers hoping to get a huge discount...Kinda like what I did in 2008-2010.....That's why the rest of you folks still rent... HA!
Great news for those of us who are looking to buy a home. Please sell cheap so I can get a good deal. I suggest moving to Tulsa or Houston, you can buy a house with the money from your severence and have a nice life doing something but f***ing off at the lazy Q
Sure it will, I will put my house for sale very soon.