Money How broke are you? - Page 50

R8RFAN · 07:28 PM

Instead of hijacking a thread lets make our own...
How far up to your ass are you in debt are you?
How close are you to filing for Bankruptcy.
How many of you borrow from Mom and Dad because you are sorry as hell and have to drive that car that sounds like a pissed off bumble bee?

Let's get it on you broke dick bastards...

It's on

I will start the thread

0 Mortgage debt
0 Consumer debt
0 Car payments

Bills I owe
Directv
Insurance
Taxes
Utilities
Food
and Cell Phone (thanks luv)

**BigRedChief** · 06-17-2021, 09:05 AM

Quote:

Originally Posted by eDave

This boom is a supply and demand issue that is likely to linger until new home starts get going again, when lumber costs come back down.

Yep, pure supply/demand issue here.

No one is getting mortgage loans that the banks know you cant afford as it was in 2008.

I refinanced recently with the same company that has the current loan to take advantage of the lower rates. If I'm an idiot and not pay my mortgage. I'd lose $100'sK. They get that profit. It's a win/win for them. They still ran me through the ringer of paperwork.

**DaFace** · 06-17-2021, 09:55 AM

Quote:

Originally Posted by lewdog

We bought our house 7 years ago and it’s doubled in value. We could currently rent this house for 2.5x our monthly mortgage payment.

None of that adds up to me and it shouldn’t be this high.

Quote:

Originally Posted by Monticore

It’s going to crash .

Quote:

Originally Posted by BigRedChief

this housing boom is different from 2008.

Yeah, there are major problems in our current housing market, but it's not the same as 2008 at all. The problem right now is a supply/demand issue as others have said rather than an issue of everyone taking out loans that they shouldn't.

The bigger issue we're starting to see in Colorado at least is that the people who work in certain areas aren't able to live there. That's becoming particularly problematic in mountain communities where there are tons of second home owners. You end up with a town where there are tons of empty houses but the workers are having to drive in from an hour away. And all those empty houses aren't spending money, so many businesses find it difficult to pay wages high enough to attract people from an hour away.

Tough to say how it'll all play out, but it doesn't seem sustainable.

scho63 · 06-17-2021, 10:34 AM

Quote:

Originally Posted by DaneMcCloud

The net loss last year was 181,000 people, which isn't even a half of a percentage point when there are 43 million in California.

But hey, I'm all for it. If millions were to leave SoCal, maybe I'd spend less time on the freeways stuck in parking lot-style traffic.

California is losing high value taxpayers and importing low value tax takers.

The 181,000 people number is only half the equation. The revenues have been declining because good wage earners have been moving an low wage earners keep moving in along with so many illegals.

Your government is bloated as ****

KCUnited · 06-17-2021, 10:46 AM

While certainly different than '08 there seems something inherently risky about buying at peak boom. People are settling for homes or areas they might not have normally considered and going over asking prices just to get an offer accepted. Not sure how that shakes out, and maybe it doesn't negatively, but it seems the success stories coming out of '08 were based on getting in low.

htismaqe · 06-17-2021, 10:49 AM

All I know is that I can't move because the market moves too ****ing fast.

Found a house the other day and it was sold in 10 hours.

eDave · 06-17-2021, 10:52 AM

And rents are skyrocketing out here as a result.

**Bugeater** · 06-17-2021, 11:10 AM

Quote:

Originally Posted by eDave

And rents are skyrocketing out here as a result.

The only winners in all of this are landlords and county assessors.

eDave · 06-17-2021, 11:12 AM

Quote:

Originally Posted by Bugeater

The only winners in all of this are landlords and county assessors.

Sellers are making out OK.

**Bugeater** · 06-17-2021, 11:14 AM

Quote:

Originally Posted by eDave

Sellers are making out OK.

They're just going to give it all back assuming they're buying another home to live in.

htismaqe · 06-17-2021, 11:14 AM

Quote:

Originally Posted by eDave

Sellers are making out OK.

Yep.

**DaneMcCloud** · 06-17-2021, 11:31 AM

Quote:

Originally Posted by scho63

California is losing high value taxpayers and importing low value tax takers.

The 181,000 people number is only half the equation. The revenues have been declining because good wage earners have been moving an low wage earners keep moving in along with so many illegals.

Your government is bloated as ****

Yeah, the 4.9 million that moved to CA last year were all broke ass ****tards that can't afford the high cost of housing and rent.

Could you just give it a ****ing break and keep your politically motivated, horseshit posts in the DC?

**DaFace** · 06-17-2021, 11:37 AM

Quote:

Originally Posted by DaneMcCloud

Yeah, the 4.9 million that moved to CA last year were all broke ass ****tards that can't afford the high cost of housing and rent.

Could you just give it a ****ing break and keep your politically motivated, horseshit posts in the DC?

Yeah, he's opposite of reality about who is moving out and in. Lower-income, lower educated people are moving out (because they can't afford it). Higher-income, higher educated people are moving in (because they can). Data here:

https://www.ppic.org/blog/whos-leavi...hos-moving-in/

That's not to say that it's a good thing to force lower-income people out, of course.

eDave · 06-17-2021, 11:40 AM

Quote:

Originally Posted by DaneMcCloud

Yeah, the 4.9 million that moved to CA last year were all broke ass ****tards that can't afford the high cost of housing and rent.

Could you just give it a ****ing break and keep your politically motivated, horseshit posts in the DC?

You've gotten soft.

**Buehler445** · 06-17-2021, 12:08 PM

Quote:

Originally Posted by Bugeater

They're just going to give it all back assuming they're buying another home to live in.

This. Pretty much just estates of dead ****s.

**Bearcat** · 06-17-2021, 12:28 PM

Quote:

Originally Posted by DaFace

Yeah, he's opposite of reality about who is moving out and in. Lower-income, lower educated people are moving out (because they can't afford it). Higher-income, higher educated people are moving in (because they can). Data here:

https://www.ppic.org/blog/whos-leavi...hos-moving-in/

That's not to say that it's a good thing to force lower-income people out, of course.

Re: the "exodus" half of that, looks like they define "middle income" as about $51k - $138k, so that probably accounts for some of the confusion in terms of "rich people are moving out of California", especially for those of us living in a state where we see Californians buying up relatively expensive houses and helping jack up housing costs..

Of course $100k goes a lot further once you move out of CA, but it's also not McDonald's salary for CA, either.

They probably should have broken down that range a bit to get a better idea in terms of income out, IMO.

03-18-2011, 11:32 AM
R8RFAN Molôn Labé Join Date: Sep 2001 Location: North Carolina Casino cash: $8466872	How broke are you? Instead of hijacking a thread lets make our own... How far up to your ass are you in debt are you? How close are you to filing for Bankruptcy. How many of you borrow from Mom and Dad because you are sorry as hell and have to drive that car that sounds like a pissed off bumble bee? Let's get it on you broke dick bastards... It's on I will start the thread 0 Mortgage debt 0 Consumer debt 0 Car payments Bills I owe Directv Insurance Taxes Utilities Food and Cell Phone (thanks luv) Last edited by R8RFAN; 03-18-2011 at 07:28 PM..
Posts: 23,182

06-17-2021, 10:46 AM	#739
KCUnited Cheat Death Join Date: Nov 2007 Location: Land of Drincoln Casino cash: $-1371756	While certainly different than '08 there seems something inherently risky about buying at peak boom. People are settling for homes or areas they might not have normally considered and going over asking prices just to get an offer accepted. Not sure how that shakes out, and maybe it doesn't negatively, but it seems the success stories coming out of '08 were based on getting in low.
Posts: 36,835

06-17-2021, 10:49 AM	#740
htismaqe 'Tis my eye! Join Date: Aug 2000 Location: Chiefsplanet Casino cash: $8179900	All I know is that I can't move because the market moves too ****ing fast. Found a house the other day and it was sold in 10 hours.
Posts: 104,292

06-17-2021, 10:52 AM	#741
eDave Banned Join Date: Jan 2013 Casino cash: $9998560	And rents are skyrocketing out here as a result.
Posts: 53,803