Author Topic: Looking for a new house (Read 1929 times)

Ripsnort · « **Reply #15 on:** April 29, 2003, 10:18:33 AM »

Stick to what you know best miko, and it ain't real estate investments

TPIguy · « **Reply #16 on:** April 29, 2003, 10:32:31 AM »

Hey Curval, can you build an addition to your house?

Lizard3 · « **Reply #17 on:** April 29, 2003, 10:57:29 AM »

Quote

Originally posted by Mini D
Ummm... the absolute stupidist thing you have ever said miko. And that's saying alot.

Any downturn in housing costs at all is a rarity. Much less anything over 5%. Don't compare real estate market to the stock market.
MiniD

I guess you were no where near California 10-12 years ago. I lost close to 18% value in 6 months. It took over 5 years to recover its value. IIRC, the rest of the country had been on a steady decline for the 3 years before that. Real Estate, not stock market. It wasn't as drastic as CA's was, but real none the less.

Horn · « **Reply #18 on:** April 29, 2003, 10:59:56 AM »

Quote

Originally posted by TPIguy
Hey Curval, can you build an addition to your house?

Or better yet, level it and start over?

Ripsnort · « **Reply #19 on:** April 29, 2003, 11:13:37 AM »

Quote

Originally posted by Lizard3
I guess you were no where near California 10-12 years ago. I lost close to 18% value in 6 months. It took over 5 years to recover its value. IIRC, the rest of the country had been on a steady decline for the 3 years before that. Real Estate, not stock market. It wasn't as drastic as CA's was, but real none the less.

There is NO doubt that real estate will decline in short term. Long term (5 yrs. or more) in a reasonable location (I use that term loosely) even in an economic depression valuations rarely drop below 3.5% GAIN each year.

3 things I learned from my Dad that he pumped into my head over and over again while on the subject of real estate investment (I own property in Minnesota, Montana and Washington) is : "LOCATION, LOCATION LOCATION!" Thats the secret to successful financial gain in ANY economic condition.

OIO · « **Reply #20 on:** April 29, 2003, 11:33:55 AM »

Remember the PH in her blood is what mostly determines gender

(or so the acid fairies told me).

So pop her a few alka-seltzers 20 minutes before the attempt.

Good luck!

Mini D · « **Reply #21 on:** April 29, 2003, 12:10:07 PM »

Quote

Originally posted by Lizard3
I guess you were no where near California 10-12 years ago. I lost close to 18% value in 6 months. It took over 5 years to recover its value. IIRC, the rest of the country had been on a steady decline for the 3 years before that. Real Estate, not stock market. It wasn't as drastic as CA's was, but real none the less.

I was in Oregon... I was very near it. I know because the mass exodus was north. And I also know that 18% is perhaps the most drastic downturn ever seen in real estate and its already recovered. It is still the best investment you can have. Bar none.

And I'd really like to see a single statement that says there is a steady decline in Real Estate values over the last 3 years. I believe you are quite confused.

Once again... Real Estate is the single best investment you can make. It has consistantly shown steady growth and will continue to do so. To say otherwise is quite simply wrong.

MiniD

Curval · « **Reply #22 on:** April 29, 2003, 12:15:55 PM »

I live in a condo right now. They are pretty sticky about add-ons.

...and other residents may object to Horn's suggestion.

The condo cost almost what the "build a house" option.

OIO...at a time like that you expect me to think about alka-selzer?

miko2d · « **Reply #23 on:** April 29, 2003, 12:18:47 PM »

Curval: In Bermuda?

I was speaking generally about the housing market in US and Britain. I would not think such an isolated and unusual place as Bermuda qualifies as a "housing market" for me to make so specific predictions.
There will always be enough wealth at rich people's disposal to buy houses in Bermuda even if the world comes to an end.

How about a boathouse?

miko

OIO · « **Reply #24 on:** April 29, 2003, 12:22:14 PM »

30 minutes before the attempt yes.

And its HER that has to take them not you. Moron

miko2d · « **Reply #25 on:** April 29, 2003, 12:25:55 PM »

Mini D: Ummm... the absolute stupidist thing you have ever said miko. And that's saying alot.
Any downturn in housing costs at all is a rarity. Much less anything over 5%. Don't compare real estate market to the stock market.
Ripsnort: Stick to what you know best miko, and it ain't real estate investments

I'll have to bookmark this thread for future reference.

I would not bother to explain now why in the long term the price of any product is determined by the income of the population and costs of manufacturing.

Seing that the US population is not likely to explode soon - highly-paid professionals (in fact baby-boom generation at the peak of their earnings will soon start retiring en-masse) and there is plenty of land for construction despite some government restrictions and the income are not growing nearly as fast as teh housing costs - I'll keep my opinion.

miko

Curval · « **Reply #26 on:** April 29, 2003, 12:26:27 PM »

Quote

Originally posted by OIO
30 minutes before the attempt yes.

And its HER that has to take them not you. Moron

I know that...believe me "I" will be the one to have to remind her to take it...just like with her birth control pills....and to think about alka-selzer when I will be busy setting up the hand-cuffs, prepping the porno flick for a particular part that I enjoy and setting up the video camera, I mean really...who has the time?

Stringer · « **Reply #27 on:** April 29, 2003, 12:42:57 PM »

LOL! Curval!

Mini D · « **Reply #28 on:** April 29, 2003, 12:48:03 PM »

You keep it bookmarked Miko. It can serve as a constant reminder just how stupid that statement was.

MiniD

capt. apathy · « **Reply #29 on:** April 29, 2003, 12:52:50 PM »

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I would not bother to explain now why in the long term the price of any product is determined by the income of the population and costs of manufacturing.

somebody slept through economics. prices are dictated by supply and demand. even if the cost of manufacture for a given product is cheap the prices can still be high if the demand out paces the supply.

since the earth (supply) ain't getting any bigger. and the population of the world (demand for residences) isn't getting any smaller. your basic economic law says prices will generally climb (barring local iregularitys like mercury in the water, high crime rates in your area, etc.)

BTW- What is the cost of manufacturing an acre of land?