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      02-08-2016, 07:10 PM   #89
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Originally Posted by PoorLurker
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Originally Posted by ASAP View Post
I think what a lot of people in modern society (USA particularly) fail to understand is that we live in a capitalist economy. A capitalist economy only works based on "hard work" only at the absolute most basic level. In fact, I would argue that is simply a fallacy that the media wants you to think, to make things easier on the "owners" to keep you out of market control. That is, a stem field may get you a decent living, you may advance a certain bit but ultimately you are completely limited in the end until you become an "owner" of some sort. You have to figure out a way to conquer a market by either selling a product that people want or providing a service that people want at the "owner" level. At that point, waiting and hard work have ultimately 0 meaning... you will be a millionaire based on the fact that you control a market. If more people understood this, they wouldn't be as caught up as they are today working for corporations and so forth.
Do you feel a bird in the hand is worth two in the bush?

Being an owner takes risk. Many people don't want that type of risk. Hence, my comment about getting into a STEM field. Getting a solid job, working hard, move up, and accomplish tasks that separates themselves from others. Will they be a millionaire? Not in the better sense of the word. Will they be able to buy a house even in a HCOL area? Yes. Can they provide for a family? Yes.

Want to make a lot of money? Like you said... sell stuff. At the end of the day, a person who is really good at selling poop in a box will make more money than the engineer who designed the box.

Look at the salaries of Pharm reps/sales.

Look at how much real estate agents make.

However, commission based jobs are unstable. Make $500k/yr during a boom cycle and make nothing during a bust. Get caught up living like you make $500k, then that bust cycle is going to hurt like no other.

Business owners? Get one business... successful? Use it to leverage another one. Two successes? That's great, leverage to get another one. However, many people don't have that drive or may not care to worry about issues that accompany business ownership.

Some people have different goals and expectations of "enough". Some people don't have "enough" in their vocabulary when it comes to work.

$100k per year working 9-5 with benefits and no weekend work does appeal to people over making $200k trying to wheel and deal.

In closing - people need to figure out what they want in life and then try to build a path it.

I could do X, Y, and Z, however, I don't care enough about the things that "extra money" could provide me with.

Mastering contentment is quite the progression killer
I think these are valid points, for myself, I know exactly what my limit is on annual income, where I absolutely do not care past... however it is an amount that no STEM field under President / CEO level could provide. The amount of hard work that will require for someone is for imho significantly better working for myself. Granted if you are satisfied w 100k, then yes I agree, a normal job is probably a better, less stressful option... but I could never aspire to be like everyone else and do things the same way.
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      02-08-2016, 07:29 PM   #90
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I think these are valid points, for myself, I know exactly what my limit is on annual income, where I absolutely do not care past... however it is an amount that no STEM field under President / CEO level could provide. The amount of hard work that will require for someone is for imho significantly better working for myself. Granted if you are satisfied w 100k, then yes I agree, a normal job is probably a better, less stressful option... but I could never aspire to be like everyone else and do things the same way.
People and their expectations are so different.

In another thread, someone said they tire of going to work. A couple posts later, someone mentions that they need work to stay productive.

Another person said that people who need work don't have enough hobbies. Some people need routine and structure in their lives to feel comfortable and not become sedentary.


Best of luck to you in your endeavors

I am done justifying why I am poor, hahaha
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      02-08-2016, 08:41 PM   #91
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The original question was about a crash. Young college graduates not being able to buy now doesn't lead to prices suddenly taking a dump.
Perhaps, but a removal of what has been the traditional group of first-time home buyers would certainly have an impact on it, yes?

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My house payment won't ever change (principle/interest cost), property taxes have gone up a few hundred dollars per year in the 10 years I have been in my house. Yes there are maintenance/repair costs that you also need to be prepared for. You will also find that rent in the next 10 years is also likely to go up, to cover the property taxes, maintenance and repair, and overall costs for where you live.
Bolded - exactly; I can look at my finances and know that I can't reasonably say that I would be able to be prepared for something like that. Rental costs might go up marginally from year-to-year, sure, but again, that is an entirely different ball game than suddenly needing to replace a roof.

As you pointed out, the topic at hand is a potential crash on the housing market, so I'll leave the rest of your reply be. My apologies if I came across as complaining.
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      02-09-2016, 08:25 AM   #92
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Originally Posted by fravel View Post
Perhaps, but a removal of what has been the traditional group of first-time home buyers would certainly have an impact on it, yes?

Bolded - exactly; I can look at my finances and know that I can't reasonably say that I would be able to be prepared for something like that. Rental costs might go up marginally from year-to-year, sure, but again, that is an entirely different ball game than suddenly needing to replace a roof.

As you pointed out, the topic at hand is a potential crash on the housing market, so I'll leave the rest of your reply be. My apologies if I came across as complaining.
I agree that people being stuck with high student loans will slow the housing market. I also agree with you that getting into a house when you can't afford the fixed/variable costs that come with it is a mistake and you don't want to get the house until you know it works out for you. Setting aside money for the roof or other emergency is critical.

I can understand the frustration with the system but if I were you I would focus on the short and long term goals. I think you will find that things slowly work out better than you expected.

For the other posts - I am in sales and have found that it pays pretty well for what I do. Not for everyone as my job involves a lot of travel which has its irritations. As pointed out above one of the issues is my pay is mostly commission so it can be great or horrible so you have to plan for the horrible.

I also think the most money is in business ownership but it also comes with big hassles and risks of failure that working for someone else doesn't have (risk/reward). If I get tired of my job I walk away or worst thing that can happen is I get fired. Own your own business and worst case is guaranteed to be more difficult/expensive.
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      02-09-2016, 10:14 AM   #93
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What happens when there is a shortage of rentals and prices jump 20-30% for your next years rent and then even more the following year? If i could give one piece of advice to my peers (mid-late 20s), it's to figure out how to make buying a house work for you.

I used to be a firm believer of renting because i didn't want to deal with repairs, unexpected costs, and all the other things that have been mentioned. Then the rental properties became scarce due to some major fires that displaced thousands of families and my rent would have doubled. At least with a mortgage your rate is locked in and your payments won't go up if you go with a conventional loan. I was able to find a decent house, update it a little and sell it a year later and double my down payment as well as getting everything i put in it back including my mortgage payments. It took a lot of hard work though and that seems to be the things that people don't want to put in.

For those complaining about not getting good enough jobs to pay off their student debts, boo hoo. I'm in the construction industry, one of the hardest hit industries from the recession, and had to grind to get a job out of school when placement was half what it used to be at salaries lower than ever. Then worked 70-80hr weeks for years as well as getting as many certifications and resume builders i could to move up the chain to get to where i can work the hours i want at a salary that is more than most guys my age in the industry. Just have to put in the time and effort to make your life the way you want it. The ones i tend to see complaining about not making decent money out of school were the ones that got degrees in fields that either don't make much or have a lack of jobs. All that info is available before you start down that path so you should know what you are getting yourself into.
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      02-09-2016, 12:13 PM   #94
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Originally Posted by csu87 View Post
The ones i tend to see complaining about not making decent money out of school were the ones that got degrees in fields that either don't make much or have a lack of jobs. All that info is available before you start down that path so you should know what you are getting yourself into.
It's not just the bullshit degrees, my degree is in biomedical engineering. The information that was available to me when I started college indicating that it would be a lucrative career field all turned out to be flat wrong.

If you can afford to pay cash for an education then great, but financing a bachelor's degree just isn't a good investment anymore.
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      02-09-2016, 01:57 PM   #95
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      09-12-2017, 03:14 PM   #96
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Seen more homes listed lately and it's taking a little longer to sell.
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      09-12-2017, 05:18 PM   #97
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Seen more homes listed lately and it's taking a little longer to sell.
Where are you located? I can't see a location listed, but it could be my phone.
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      09-12-2017, 05:42 PM   #98
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Originally Posted by JasonCSU View Post
The housing market here in the Denver metro area is one of the hottest in the country right now. There was a recent article I read stating there was "false demand" prior to the last bubble caused by the relaxed lending of the banks which allowed many buyers into the market. This shot up home prices, but many of the buyers used adjustable rate mortgages which they could no longer afford once the rates adjusted and payments went up. This forced many to sell which then flooded the market with a "false supply" sending prices down.

The article went on to say the high home prices around Denver we are seeing now are due to basic supply and demand which is probably true because people are moving here in droves, which sucks by the way.
Currently renting my house in Denver due to my job being out of state. The value increase these past few years has me on cloud 9. I hope it stays, or better keep going up!
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      09-12-2017, 05:53 PM   #99
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i sure hope it crashes. need another investment property, and a house.
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      09-12-2017, 06:01 PM   #100
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To answer the original question, Real Estate is a cyclical market, so YES!
I am waiting for the next one, cash in hand.
Rental properties are getting way overpriced again...
Chicago market, here.
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      09-12-2017, 06:05 PM   #101
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i sure hope it crashes. need another investment property, and a house.
Came to post this!! We bought a house in Vegas in 2012, sold for a $90K profit in 2015. Going to be in the market for a home here shortly. I need prices to drop like a rock before i buy again.
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      09-12-2017, 07:36 PM   #102
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whats everyones market like? it seems all thats going up here in south fla is godam rentals.
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      09-12-2017, 08:08 PM   #103
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whats everyones market like? it seems all thats going up here in south fla is godam rentals.
We bought a new townhouse in a developing part of the Bay Area (Milpitas) last November. If you average the Redfin and Zillow estimates, it has gone up 16% YTD alone and 23% from where we bought. Looking at comps, that seems on the optimistic side but not by a whole lot.

I also have a condo with my parents in Seattle, which is extremely hot although not reflected as much in the value estimates. Seattle as a whole is supposedly up 13% over a year ago.

So still going up in these areas, and why wouldn't they? Supply low, not a glut of building, continued high-wage hiring and continued low interest rates. Prices will likely continue to go up until one or more of those things changes.
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      09-12-2017, 08:08 PM   #104
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This is a really, really ignorant question. Of course there will be. Markets are cyclical.
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      09-12-2017, 09:30 PM   #105
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Crash like 2006-2009? Probably not in our lifetimes.

A lull, a softening, a correction, a gully, a slowdown? Definitely. As soon as incomes are unable to support monthly housing costs, the we will see a decrease in values. Commercial real estate on the other is hot AF for a while!
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      09-12-2017, 11:43 PM   #106
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Crash like 2006-2009? Probably not in our lifetimes.

A lull, a softening, a correction, a gully, a slowdown? Definitely.
my exact thought. Never will it be like 2006-2009 but will of course come down. When? well shit if I could tell the future I would have already won the lottery a few times.
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      09-13-2017, 02:32 AM   #107
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Where are you located? I can't see a location listed, but it could be my phone.
Bay Area, CA (South Bay)
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      09-13-2017, 02:33 AM   #108
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We bought a new townhouse in a developing part of the Bay Area (Milpitas) last November
Bay Area is on fire.
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      09-13-2017, 02:34 AM   #109
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Originally Posted by -BEASTMW- View Post
We bought a new townhouse in a developing part of the Bay Area (Milpitas) last November. If you average the Redfin and Zillow estimates, it has gone up 16% YTD alone and 23% from where we bought. Looking at comps, that seems on the optimistic side but not by a whole lot.

I also have a condo with my parents in Seattle, which is extremely hot although not reflected as much in the value estimates. Seattle as a whole is supposedly up 13% over a year ago.

So still going up in these areas, and why wouldn't they? Supply low, not a glut of building, continued high-wage hiring and continued low interest rates. Prices will likely continue to go up until one or more of those things changes.
Milpitas is getting super crowded now with all the new developments and Bart being built. I don't like Milpitas at all. I live right there as well and traffic is terrible.
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      09-13-2017, 02:35 AM   #110
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Originally Posted by TheHouseWon View Post
Crash like 2006-2009? Probably not in our lifetimes.

A lull, a softening, a correction, a gully, a slowdown? Definitely. As soon as incomes are unable to support monthly housing costs, the we will see a decrease in values. Commercial real estate on the other is hot AF for a while!
I agree with this as well. Not a major crash but a correction.
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