Housing Analysis

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Everyone has to start somewhere.

When we first started out, we rented a studio in a duplex.

Save up and when we could afford comfortably without over reached we bought.

Bear in mind, our interest rate at the time was 9.5 %.

Even though the loan is smaller, but seem like I was carrying ten thousand pounds of weight on my shoulders, at the signing, to give my life away to the bank.

Scary but I would not change it any other way.
 
Compressed-Village said:
Everyone has to start somewhere.

When we first started out, we rented a studio in a duplex.

Save up and when we could afford comfortably without over reached we bought.

Bear in mind, our interest rate at the time was 9.5 %.

Even though the loan is smaller, but seem like I was carrying ten thousand pounds of weight on my shoulders, at the signing, to give my life away to the bank.

Scary but I would not change it any other way.

Nothing wrong with renting if you are starting out in life.  But there are some here who advocate renting as a strategy to time the market. That, I believe, is something life is too short for.
 
Happiness said:
Compressed-Village said:
Everyone has to start somewhere.

When we first started out, we rented a studio in a duplex.

Save up and when we could afford comfortably without over reached we bought.

Bear in mind, our interest rate at the time was 9.5 %.

Even though the loan is smaller, but seem like I was carrying ten thousand pounds of weight on my shoulders, at the signing, to give my life away to the bank.

Scary but I would not change it any other way.

Nothing wrong with renting if you are starting out in life.  But there are some here who advocate renting as a strategy to time the market. That, I believe, is something life is too short for.

The opposite is buy because life is too short?

 
eyephone said:
Happiness said:
Compressed-Village said:
Everyone has to start somewhere.

When we first started out, we rented a studio in a duplex.

Save up and when we could afford comfortably without over reached we bought.

Bear in mind, our interest rate at the time was 9.5 %.

Even though the loan is smaller, but seem like I was carrying ten thousand pounds of weight on my shoulders, at the signing, to give my life away to the bank.

Scary but I would not change it any other way.

Nothing wrong with renting if you are starting out in life.  But there are some here who advocate renting as a strategy to time the market. That, I believe, is something life is too short for.

The opposite is buy because life is too short?
Yes, buy before you die. Or save up for a good grave.
 
Happiness said:
eyephone said:
Happiness said:
Compressed-Village said:
Everyone has to start somewhere.

When we first started out, we rented a studio in a duplex.

Save up and when we could afford comfortably without over reached we bought.

Bear in mind, our interest rate at the time was 9.5 %.

Even though the loan is smaller, but seem like I was carrying ten thousand pounds of weight on my shoulders, at the signing, to give my life away to the bank.

Scary but I would not change it any other way.

Nothing wrong with renting if you are starting out in life.  But there are some here who advocate renting as a strategy to time the market. That, I believe, is something life is too short for.

The opposite is buy because life is too short?
Yes, buy before you die. Or save up for a good grave.

LOL, that?s some funniest line l heard in awhile.  :)
 
It's easy for somebody that already owns to tell a first time buyer "Hey, go ahead and throw away $200,000 of savings.  Life is too short."  Of course, if you told the existing owners to throw that same amount of money away, they would call you crazy. 

And yet by timing the market, the first time buyers can also afford a much better location.  Irvine may be forever, but so are toxic plumes.

It makes no sense to buy if:

1) Prices are declining.

2) Rates are declining.

3) Rents are declining.

Timing the market is a win/win/win because all three are happening in Irvine as we speak.
 
Happiness said:
eyephone said:
Happiness said:
Compressed-Village said:
Everyone has to start somewhere.

When we first started out, we rented a studio in a duplex.

Save up and when we could afford comfortably without over reached we bought.

Bear in mind, our interest rate at the time was 9.5 %.

Even though the loan is smaller, but seem like I was carrying ten thousand pounds of weight on my shoulders, at the signing, to give my life away to the bank.

Scary but I would not change it any other way.

Nothing wrong with renting if you are starting out in life.  But there are some here who advocate renting as a strategy to time the market. That, I believe, is something life is too short for.

The opposite is buy because life is too short?
Yes, buy before you die. Or save up for a good grave.

That?s a negative.
 
Happiness said:
eyephone said:
Happiness said:
Compressed-Village said:
Everyone has to start somewhere.

When we first started out, we rented a studio in a duplex.

Save up and when we could afford comfortably without over reached we bought.

Bear in mind, our interest rate at the time was 9.5 %.

Even though the loan is smaller, but seem like I was carrying ten thousand pounds of weight on my shoulders, at the signing, to give my life away to the bank.

Scary but I would not change it any other way.

Nothing wrong with renting if you are starting out in life.  But there are some here who advocate renting as a strategy to time the market. That, I believe, is something life is too short for.

The opposite is buy because life is too short?
Yes, buy before you die. Or save up for a good grave.

my grave will have a 3cwg with zero-lot-lines and smell like asphalt
 
Kings said:
my grave will have a 3cwg with zero-lot-lines and smell like asphalt

3CWG with zero lot lines is like corn flakes without the milk.

I think I'm the only one who doesn't really mind the smell of asphalt. Garbage on the other hand (like near Columbus Grove)... bleh.
 
irvinehomeowner said:
Kings said:
my grave will have a 3cwg with zero-lot-lines and smell like asphalt

3CWG with zero lot lines is like corn flakes without the milk.

I think I'm the only one who doesn't really mind the smell of asphalt. Garbage on the other hand (like near Columbus Grove)... bleh.

Yeah what is that smell? That same smell is also at near University and Harvard. Is that from the creek?
 
Mety said:
irvinehomeowner said:
Kings said:
my grave will have a 3cwg with zero-lot-lines and smell like asphalt

3CWG with zero lot lines is like corn flakes without the milk.

I think I'm the only one who doesn't really mind the smell of asphalt. Garbage on the other hand (like near Columbus Grove)... bleh.

Yeah what is that smell? That same smell is also at near University and Harvard. Is that from the creek?

South of Warner in between the District and Columbus Grove is a Waste Management facility... you can smell it ever time you take Warner from Culver towards Costco right before you pass under Jamboree.
 
September LA Times article:
https://www.latimes.com/business/st...ome-prices-were-flat-and-sales-fell-in-august

Prices seem flat despite lower volume:

The Southern California median home price was flat in August, while sales dipped from a year earlier as buyers struggled to afford sky-high housing costs.

The six-county region?s median price clocked in at $535,000 last month, unchanged from August 2018, according to a report released Wednesday from real estate data provider CoreLogic. Meanwhile, buyers purchased 1.2% fewer homes than a year earlier.

[...]
In Los Angeles County, the median price rose 0.7% to $619,000, while sales fell 5.9%.
In Orange County, the median price fell 1% to $719,500; sales fell 3%.
In Riverside County, the median price rose 2.6% to $390,000; sales rose 6.7%.
In San Bernardino County, the median price rose 5.3% to $346,000; sales fell 2.5%.
In San Diego County, the median price fell 0.1% to $584,000; sales rose 1.9%.
In Ventura County, the median price rose 2.1% to $599,000; sales rose 4.2%.

Other than zubs and LL, is anyone willing to make a prediction for next year because to me, the predictions for this last year being a "slowdown" didn't seem to surpass seasonal drops from past years.

Do we really think a bigger drop is coming? Or is it going to be a slow descent? Does anyone think Irvine is going to jump as high as it has it the past because I really think prices are way too high for what you get in Irvine... but I've been thinking that for years now.
 
Liar Loan said:
It's easy for somebody that already owns to tell a first time buyer "Hey, go ahead and throw away $200,000 of savings.  Life is too short."  Of course, if you told the existing owners to throw that same amount of money away, they would call you crazy. 

And yet by timing the market, the first time buyers can also afford a much better location.  Irvine may be forever, but so are toxic plumes.

It makes no sense to buy if:

1) Prices are declining.

2) Rates are declining.

3) Rents are declining.

Timing the market is a win/win/win because all three are happening in Irvine as we speak.

I completely agree. I work with a lot of younger people and many of them are getting bad advice to jump in.

"anytime is a good time to buy in Irvine" or "It's almost impossible to time the market so don't even bother" are just nonsense.

Renting has another big of advantage of staying portable. You can also avoid the 5-6% transaction cost when you eventually have to sell or move up.

This is key especially in today's economy where people move and change jobs more and more often. 
 
I wonder how you plan to buy a house when you can afford it and live in it to be consider throwing money away?

Isn?t renting to no ends doing just that?

At least buying is a forced saving.

Compare a person bought at 2006 and renting at 2006 until now, who is better off?
 
Compressed-Village said:
I wonder how you plan to buy a house when you can afford it and live in it to be consider throwing money away?

Isn?t renting to no ends doing just that?

At least buying is a forced saving.

Compare a person bought at 2006 and renting at 2006 until now, who is better off?

I have been following your posts. Not everybody has money to buy and press the redo button. They have to strategize and make sure they make the right decision. (Not everybody has rich parents)
People don?t want to sit on the last chair and be stuck.
 
With your theory. I can say that about Apple, Amazon, Microsoft. Hold long and let it auto pilot. But it?s not that easy.
 
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