New To Investing Thread

[michigancat]

Moving can be expensive too!

But yeah

[michigancat]

No offense Rusty but the Bay Area is the most extreme example in the most extreme state so not really relevant.

It's the most populous state too

[kim carnes]

I’m not sure why home owners have such a hard on for increasing home prices.  Unless you plan on retiring to a lower cost area or own income properties I’m not really sure you’re benefiting much.

[michigancat]

I’m not sure why home owners have such a hard on for increasing home prices.  Unless you plan on retiring to a lower cost area or own income properties I’m not really sure you’re benefiting much.

Everyone wants more money, this isn't exactly a brain buster

[sys]

It's not low at all when the median sale price in the county is over a million and then you'd have a ridiculously high payment. And I don't even think the FHA will give loans high enough.

https://www.bayareamarketreports.com/trend/oakland-berkeley-real-estate-market-conditions-prices

that's a housing availability issue, not a loan availability issue.

[sys]

I guess same political disclaimer, on one hand it's fantastic (fixed for 30 years and at the current rates), on the other kind of weird to have something so focused on home ownership.

yeah, i'm not well-versed on all the considerations, but i'm not at all convinced it's good policy for the country.  it is, however, a fantastic opportunity to take free money that the govt is giving away for people that are in position to take advantage of it.

[michigancat]

It's not low at all when the median sale price in the county is over a million and then you'd have a ridiculously high payment. And I don't even think the FHA will give loans high enough.

https://www.bayareamarketreports.com/trend/oakland-berkeley-real-estate-market-conditions-prices

that's a housing availability issue, not a loan availability issue.

Ok thanks for the lesson

[kim carnes]

I’m not sure why home owners have such a hard on for increasing home prices.  Unless you plan on retiring to a lower cost area or own income properties I’m not really sure you’re benefiting much.

Everyone wants more money, this isn't exactly a brain buster

As a whole a lot of people are misinformed about the benefit.  If you paid 250k for a coastal home in socal 30 yrs ago and sell it for 3-4 million now and move somewhere cheaper then sure, you did great.  That’s not the case for like 99% of people.   You need to have lived in a market that outperformed the overall market (like the bay, coastal socal, Manhattan, ski towns, vacation areas, etc.)

[sys]

Ok thanks for the lesson

you were complaining about it as if it was.

[michigancat]

I’m not sure why home owners have such a hard on for increasing home prices.  Unless you plan on retiring to a lower cost area or own income properties I’m not really sure you’re benefiting much.

Everyone wants more money, this isn't exactly a brain buster

As a whole a lot of people are misinformed about the benefit.  If you paid 250k for a coastal home in socal 30 yrs ago and sell it for 3-4 million now and move somewhere cheaper then sure, you did great.  That’s not the case for like 99% of people.   You need to have lived in a market that outperformed the overall market (like the bay, coastal socal, Manhattan, ski towns, vacation areas, etc.)

People also like the idea of maintaining intergenerational wealth inequality and social structure

[KITNfury]

I’m not sure why home owners have such a hard on for increasing home prices.  Unless you plan on retiring to a lower cost area or own income properties I’m not really sure you’re benefiting much.

It's good for net worth obviously, and allows accessible cash of needed through things like heloc lending, but overall, you're right. Property taxes will likely climb. Things of this nature is why a personal home is really a liability, not an asset. Rich dad 101.

[KITNfury]

I’m not sure why home owners have such a hard on for increasing home prices.  Unless you plan on retiring to a lower cost area or own income properties I’m not really sure you’re benefiting much.

Everyone wants more money, this isn't exactly a brain buster

As a whole a lot of people are misinformed about the benefit.  If you paid 250k for a coastal home in socal 30 yrs ago and sell it for 3-4 million now and move somewhere cheaper then sure, you did great.  That’s not the case for like 99% of people.   You need to have lived in a market that outperformed the overall market (like the bay, coastal socal, Manhattan, ski towns, vacation areas, etc.)

People also like the idea of maintaining intergenerational wealth inequality and social structure

. People don't give a crap about maintaining wealth inequality, but they care a lot about maintaining their wealth.

[wetwillie]

I’m not sure why home owners have such a hard on for increasing home prices.  Unless you plan on retiring to a lower cost area or own income properties I’m not really sure you’re benefiting much.

Everyone wants more money, this isn't exactly a brain buster

As a whole a lot of people are misinformed about the benefit.  If you paid 250k for a coastal home in socal 30 yrs ago and sell it for 3-4 million now and move somewhere cheaper then sure, you did great.  That’s not the case for like 99% of people.   You need to have lived in a market that outperformed the overall market (like the bay, coastal socal, Manhattan, ski towns, vacation areas, etc.)

People also like the idea of maintaining intergenerational wealth inequality and social structure

. People don't give a crap about maintaining wealth inequality, but they care a lot about maintaining their wealth.

Well you kind of just proved his point haha

[kim carnes]

I’m not sure why home owners have such a hard on for increasing home prices.  Unless you plan on retiring to a lower cost area or own income properties I’m not really sure you’re benefiting much.

Everyone wants more money, this isn't exactly a brain buster

As a whole a lot of people are misinformed about the benefit.  If you paid 250k for a coastal home in socal 30 yrs ago and sell it for 3-4 million now and move somewhere cheaper then sure, you did great.  That’s not the case for like 99% of people.   You need to have lived in a market that outperformed the overall market (like the bay, coastal socal, Manhattan, ski towns, vacation areas, etc.)

People also like the idea of maintaining intergenerational wealth inequality and social structure

No worries.  A 30 hr work week, paid vacation, paid paternity leave, universal income, and more regulations should get the supply shortage fixed here soon. 

[KITNfury]

I’m not sure why home owners have such a hard on for increasing home prices.  Unless you plan on retiring to a lower cost area or own income properties I’m not really sure you’re benefiting much.

Everyone wants more money, this isn't exactly a brain buster

As a whole a lot of people are misinformed about the benefit.  If you paid 250k for a coastal home in socal 30 yrs ago and sell it for 3-4 million now and move somewhere cheaper then sure, you did great.  That’s not the case for like 99% of people.   You need to have lived in a market that outperformed the overall market (like the bay, coastal socal, Manhattan, ski towns, vacation areas, etc.)

People also like the idea of maintaining intergenerational wealth inequality and social structure

. People don't give a crap about maintaining wealth inequality, but they care a lot about maintaining their wealth.

Well you kind of just proved his point haha

I'm either misunderstanding him or you then. I took his comment to mean people are interested in staying wealthy at the expense of people less fortunate. I think people simply want to maintain their wealth and are mostly complacent about others people's wealth or lack thereof.

Unless you think wealth only comes in a predatory nature by taking advantage of others.

[sys]

No worries.  A 30 hr work week, paid vacation, paid paternity leave, universal income, and more regulations should get the supply shortage fixed here soon.

none of those things, unless you're including zoning and permitting under regulations, has anything to do with the lack/price of housing in california

[kim carnes]

The far lefts solution to the housing shortage: expend tons of resources making all existing structures LEED platinum

[IPA4Me]

Let's not get pit over here, y'all.

[kim carnes]

No worries.  A 30 hr work week, paid vacation, paid paternity leave, universal income, and more regulations should get the supply shortage fixed here soon.

none of those things, unless you're including zoning and permitting under regulations, has anything to do with the lack/price of housing in california

No crap. Mich thinks all of the problems in this country/world are easily cured through socialism.

[michigancat]

I’m not sure why home owners have such a hard on for increasing home prices.  Unless you plan on retiring to a lower cost area or own income properties I’m not really sure you’re benefiting much.

Everyone wants more money, this isn't exactly a brain buster

As a whole a lot of people are misinformed about the benefit.  If you paid 250k for a coastal home in socal 30 yrs ago and sell it for 3-4 million now and move somewhere cheaper then sure, you did great.  That’s not the case for like 99% of people.   You need to have lived in a market that outperformed the overall market (like the bay, coastal socal, Manhattan, ski towns, vacation areas, etc.)

People also like the idea of maintaining intergenerational wealth inequality and social structure

. People don't give a crap about maintaining wealth inequality, but they care a lot about maintaining their wealth.

Well you kind of just proved his point haha

I'm either misunderstanding him or you then. I took his comment to mean people are interested in staying wealthy at the expense of people less fortunate. I think people simply want to maintain their wealth and are mostly complacent about others people's wealth or lack thereof.

Home owners might not care if poor people have easier access to home ownership but they will absolutely shut any measure to expand it if it impacts their own property values.

And yeah, I think a lot of people like knowing there is a class lower than them whether or not they want to admit it.

[KITNfury]

I’m not sure why home owners have such a hard on for increasing home prices.  Unless you plan on retiring to a lower cost area or own income properties I’m not really sure you’re benefiting much.

Everyone wants more money, this isn't exactly a brain buster

As a whole a lot of people are misinformed about the benefit.  If you paid 250k for a coastal home in socal 30 yrs ago and sell it for 3-4 million now and move somewhere cheaper then sure, you did great.  That’s not the case for like 99% of people.   You need to have lived in a market that outperformed the overall market (like the bay, coastal socal, Manhattan, ski towns, vacation areas, etc.)

People also like the idea of maintaining intergenerational wealth inequality and social structure

. People don't give a crap about maintaining wealth inequality, but they care a lot about maintaining their wealth.

Well you kind of just proved his point haha

I'm either misunderstanding him or you then. I took his comment to mean people are interested in staying wealthy at the expense of people less fortunate. I think people simply want to maintain their wealth and are mostly complacent about others people's wealth or lack thereof.

Home owners might not care if poor people have easier access to home ownership but they will absolutely shut any measure to expand it if it impacts their own property values.

And yeah, I think a lot of people like knowing there is a class lower than them whether or not they want to admit it.

Of course people don't typically want to be forced to take a negative hit to their net worth so other people can own a home easier. That's not the same as regularly and actively trying to keep people down, it's just defending what is yours first and foremost. Basically financial NIMBY

[kim carnes]

I’m not sure why home owners have such a hard on for increasing home prices.  Unless you plan on retiring to a lower cost area or own income properties I’m not really sure you’re benefiting much.

Everyone wants more money, this isn't exactly a brain buster

As a whole a lot of people are misinformed about the benefit.  If you paid 250k for a coastal home in socal 30 yrs ago and sell it for 3-4 million now and move somewhere cheaper then sure, you did great.  That’s not the case for like 99% of people.   You need to have lived in a market that outperformed the overall market (like the bay, coastal socal, Manhattan, ski towns, vacation areas, etc.)

People also like the idea of maintaining intergenerational wealth inequality and social structure

. People don't give a crap about maintaining wealth inequality, but they care a lot about maintaining their wealth.

Well you kind of just proved his point haha

I'm either misunderstanding him or you then. I took his comment to mean people are interested in staying wealthy at the expense of people less fortunate. I think people simply want to maintain their wealth and are mostly complacent about others people's wealth or lack thereof.

Home owners might not care if poor people have easier access to home ownership but they will absolutely shut any measure to expand it if it impacts their own property values.

And yeah, I think a lot of people like knowing there is a class lower than them whether or not they want to admit it.

Lmao, is that really what you think is going on?

[michigancat]

No worries.  A 30 hr work week, paid vacation, paid paternity leave, universal income, and more regulations should get the supply shortage fixed here soon.

none of those things, unless you're including zoning and permitting under regulations, has anything to do with the lack/price of housing in california

No crap. Mich thinks all of the problems in this country/world are easily cured through socialism.

No matter what, someone needs to build a shitload of housing all over California

[michigancat]

I’m not sure why home owners have such a hard on for increasing home prices.  Unless you plan on retiring to a lower cost area or own income properties I’m not really sure you’re benefiting much.

Everyone wants more money, this isn't exactly a brain buster

As a whole a lot of people are misinformed about the benefit.  If you paid 250k for a coastal home in socal 30 yrs ago and sell it for 3-4 million now and move somewhere cheaper then sure, you did great.  That’s not the case for like 99% of people.   You need to have lived in a market that outperformed the overall market (like the bay, coastal socal, Manhattan, ski towns, vacation areas, etc.)

People also like the idea of maintaining intergenerational wealth inequality and social structure

. People don't give a crap about maintaining wealth inequality, but they care a lot about maintaining their wealth.

Well you kind of just proved his point haha

I'm either misunderstanding him or you then. I took his comment to mean people are interested in staying wealthy at the expense of people less fortunate. I think people simply want to maintain their wealth and are mostly complacent about others people's wealth or lack thereof.

Home owners might not care if poor people have easier access to home ownership but they will absolutely shut any measure to expand it if it impacts their own property values.

And yeah, I think a lot of people like knowing there is a class lower than them whether or not they want to admit it.

Of course people don't typically want to be forced to take a negative hit to their net worth so other people can own a home easier. That's not the same as regularly and actively trying to keep people down, it's just defending what is yours first and foremost. Basically financial NIMBY

Might be different intentions but the results are the same

[Phil Titola]

What do you investing pros do with kansas farmland you acquire via inheritance that you have no desire to have?