needs to be asked every year...what are the indications for 2017?
- Thread starter noMoneyBackin2011
- Start date
NEW -> Contingent Buyer Assistance Program
Too bad the new president doesn't believe TTP will be beneficial to those companies.
I hear this all the time too. Can't help but shake my head.
It's just a forced savings account for the vast majority of us. You can begin calling it an "investment" once the mortgage is paid off. The dividend from the investment is the imputed rent you don't have to pay.
The number of well-to-do foreigners moving to California exceeds new housing built. How do they find enough housing? People that already live here have to move out to make room.
MoreKAOS says they will all move to Texas.
You are right. That might be a nice solution.
If you sell, you are looking at $150k profit probably in today's market, but where do you move? Stay in Irvine? you are looking at a guarantee downgrade right now
Now if you are okay to downgrade or move nearby/elsewhere than Irvine, you can pocket the $150k and do that or even rent for like $2000 a month...but if you like your standard of living and your family is happy, $150k might not be enough to move. Maybe just pay it off and pass it down to your kids
Looking back is a natural but futile exercise. If you have the means (ie. down payment and reasonable DTI ratio) as well as a decent time horizon of at least 5-7 years, then it is always a good time to buy. You have a roof over your head and own real estate in one of the most geographically desirable locations in the world. Rents are increasing so buying is a good hedge for that as well as inflation overall. Again this is only if you find something that you can comfortably make payments on.
Yeah I'll be living with siblings - that is how I'd comfortably make rent.
Otherwise, even 20-25% on 650K puts you at almost 4K/month once you account for everything including utilities. I'm not sure how many do that in Orange County - most people I know are married DINKS and that is how they pull it off.
The TPP is more about boxing out China in asia and reinforcing the "stronghold" that the US has over there. Of course at a cost to the US.
But now that the new US gov is being self centered, China will have its opportunities to increase its ties with all the surroundings countries including ones in NA like Mexico and Canada.
Hooray for protectionism policies /s
Loco_local
Active member
paydawg said:eyephone said:momopi said:
Maybe he hasn't read the Toyota moving to Texas thread.
Maybe he isn't referring to manufacturing. There's a lot of tech/biomedical/financial jobs in the vicinity.
Too bad the new president doesn't believe TTP will be beneficial to those companies.
irvinehomeowner
Well-known member
If you are worried about overpaying... then buy new, because at least you know everyone else around you paid the same price and that baseline will make it hard for your neighbors to discount in the near future.
Plus, another thing to remember, not in your case (since you are a first time buyer), but if you already own a home and will be selling it for your new place, then it doesn't matter a whole lot. If the market is down, you buy your next house for less, but also sell your house for less. So in those cases, the only way it works out is if you are on the sidelines (yes there are other nominal benefits, if you are moving up, but not a lot).
Perspective
Well-known member
Don't stress about prices. If you're ready (20%+ down with low DTIs), then buy something you can reasonably see yourself living in for at least 5+ years. It's not an investment. Even a new house will burn your cashflow for a couple years (furniture, built-ins, landscaping, etc.).
I have renting friends who are waiting for another big (20%+) downturn in house prices. Every one of them buys new luxury cars every 2-3 years. They stress about paying too much for a house because they could "lose" tens of thousands of dollars. Yet they have no problem losing tens of thousands on the pleasure of driving nice new lux cars.
I have renting friends who are waiting for another big (20%+) downturn in house prices. Every one of them buys new luxury cars every 2-3 years. They stress about paying too much for a house because they could "lose" tens of thousands of dollars. Yet they have no problem losing tens of thousands on the pleasure of driving nice new lux cars.
potsticker
Active member
Perspective said:
I hear this all the time too. Can't help but shake my head.
Perspective
Well-known member
eyephone said:
It's just a forced savings account for the vast majority of us. You can begin calling it an "investment" once the mortgage is paid off. The dividend from the investment is the imputed rent you don't have to pay.
irvinebullhousing
Well-known member
If you turn it into a rental, the renter(s) will be making the mortgage for you if you decide to move on. A nice way to bank your money.
paperboyNC
New member
firsttimehomebuyer said:
The number of well-to-do foreigners moving to California exceeds new housing built. How do they find enough housing? People that already live here have to move out to make room.
irvinehomeowner
Well-known member
paperboyNC said:
MoreKAOS says they will all move to Texas.
SoclosetoIrvine
New member
Compressed-Village said:
You are right. That might be a nice solution.
If you sell, you are looking at $150k profit probably in today's market, but where do you move? Stay in Irvine? you are looking at a guarantee downgrade right now
Now if you are okay to downgrade or move nearby/elsewhere than Irvine, you can pocket the $150k and do that or even rent for like $2000 a month...but if you like your standard of living and your family is happy, $150k might not be enough to move. Maybe just pay it off and pass it down to your kids
BruinDoc
New member
noMoneyBackin2011 said:
Looking back is a natural but futile exercise. If you have the means (ie. down payment and reasonable DTI ratio) as well as a decent time horizon of at least 5-7 years, then it is always a good time to buy. You have a roof over your head and own real estate in one of the most geographically desirable locations in the world. Rents are increasing so buying is a good hedge for that as well as inflation overall. Again this is only if you find something that you can comfortably make payments on.
noMoneyBackin2011
Member
BruinDoc said:
Yeah I'll be living with siblings - that is how I'd comfortably make rent.
Otherwise, even 20-25% on 650K puts you at almost 4K/month once you account for everything including utilities. I'm not sure how many do that in Orange County - most people I know are married DINKS and that is how they pull it off.
B2FiNiTY
Active member
Back in 2015 when we bought, we felt the same way looking at the prices from 2014 or even early 2015.
But now it's 2017 and if we didn't buy, then we wouldn't be able to afford the home we are in now.
We bought not because we wanted to get the best price and time the market. We bought because we needed a home and it was in our price range.
If you are in it for the longer term with the home, just buy it when you can afford it. No need to chase because "homes go up forever". But in the long term, you can except homes to at least follow inflation and continue to increase in prices.
The most recent trend is to see homes not increase in price relatively, but rather they will take away the common things that you never saw as amenities like your own driveway, front yard, rear yard, tub etc etc.
But now it's 2017 and if we didn't buy, then we wouldn't be able to afford the home we are in now.
We bought not because we wanted to get the best price and time the market. We bought because we needed a home and it was in our price range.
If you are in it for the longer term with the home, just buy it when you can afford it. No need to chase because "homes go up forever". But in the long term, you can except homes to at least follow inflation and continue to increase in prices.
The most recent trend is to see homes not increase in price relatively, but rather they will take away the common things that you never saw as amenities like your own driveway, front yard, rear yard, tub etc etc.
B2FiNiTY
Active member
Loco_local said:paydawg said:eyephone said:momopi said:
Maybe he hasn't read the Toyota moving to Texas thread.
Maybe he isn't referring to manufacturing. There's a lot of tech/biomedical/financial jobs in the vicinity.
Too bad the new president doesn't believe TTP will be beneficial to those companies.
The TPP is more about boxing out China in asia and reinforcing the "stronghold" that the US has over there. Of course at a cost to the US.
But now that the new US gov is being self centered, China will have its opportunities to increase its ties with all the surroundings countries including ones in NA like Mexico and Canada.
Hooray for protectionism policies /s