Thursday Open Thread
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6 comments:
I was expecting a decline but this was a pleasant suprise.
I like how zillow's morph'd into the etrade ticker of the dot-com era. The problem is, when your Pets.com stock soared above 200/share, you could actually cash it out! for whatever it was listed at minus a small transaction fee...
When home values 'bump' in zillow, its vapor, doesn't exist, and meaningless to one's portfolio.
The only way you can cash out your rented investment would be to HELOC it, but all this has interest overhead, way higher than the interest overhead of a stock as opposed to cash (i.e. Bank interest)and the transaction costs? wholly moley. If I had a broker that nipped 6% from any transaction fee, he'd be on his arse next to the curb in a heartbeat.... of course with a stock portfolio, you have no maintanence fees, no property taxes, no ARM's, etcetera...
The only way RE is comparable to stocks is if you're renting a property out for more than monly mortgage/maintanence/taxes... unless you're a flipper but flipper's just another word for 'day trader' and we know how lucrative that industry was
http://money.cnn.com/popups/2006/biz2/newrules_bubbleproof/index.html
Bubbleproof, huh?
Bubbleproof, huh?
Boston had the strongest wage growth of these cities through the tech bust and jobless recovery. Over the next five years, it will have the highest per capita income, next to San Francisco.
CNN's got a funny way of defining the world 'bubble', are we talking depression era misery or dot-com bust misery? Because all Boston's apparently got going for it, ain't saving it from the following miserable fate...
Real Estate: House prices plunge: All hub gains since March '04 vanish
Boston house prices plunged last month at their fastest pace in more than 13 years, erasing all gains recorded since early 2004, new figures show.
Yeah, Seattle's 'bubble proof' too, I'm sure... but is that such a good thing?
Slinky,
FYI, I already posted about that story over a month ago.
Surpringly, the Nov Zillow update seems pretty accurate for my property. Went down about 1% in November.
Death by condo
That's indisputably the case in the Pike/Pine neighborhood, where a dozen new condo and apartment developments have been conceived, designed, or completed in the last few years...
Developers and real-estate agents love to talk about the "vibrancy" of neighborhoods like Pike/Pine...When developers talk about "vibrancy," what they mean is places like the Cha Cha, Bimbo's, Manray, the Bus Stop, R Place, Bauhaus, Babeland, and dozens of other small, independent businesses. Pike/Pine wouldn't be "vibrant" without those businesses. Yet as empty lots get harder and harder to come by, developers are increasingly gobbling up land that's already occupied
Hahahaha! how ironic... the dot-condo boom of downtown allegedly fueled by 'young professionals' wanting to be close to 'vibrant nightlife' is in fact nuking the very virbrancy they expouse!
Yeppers, in my opinion the housing boom is the last nail in Seattle's 'hipster' coffin, forever lame and exploited by marketing by the iPod generation! A town built by squares (that's you Greg Nickels!) for squars...
Grunge is dead, if you want 'hip' move to Portland or Spokane or Wenatchee.. or something
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