Berkeley CSUA MOTD:Entry 35830
Berkeley CSUA MOTD
 
WIKI | FAQ | Tech FAQ
http://csua.com/feed/
2025/07/08 [General] UID:1000 Activity:popular
7/8     

2005/1/20 [Reference/RealEstate] UID:35830 Activity:high
1/20    "People are buying strictly on the basis of price appreciation, and
        that's a recipe for disaster," Thornberg said. "It's obvious we've
        peaked out. The question now is when do we start coming down the
        other side? -UCLA economist Christopher Thornber (on home prices)
        http://csua.org/u/as3
        \_ I like Mr. Fair and Unbiased Poster! The whole article is saying
           how things are unclear, there's indications that the market could
           head either way, and he/she posts the last paragraph in the article
           as if that's the proper summary. Fine work!
        \_ These grapes, dey are so SOUR!
           \_ *sniff*! Yeah, I sure miss being sick half the year from the
              fucking polution, sitting in traffic for an hour to get anywhere,
              and dealing with the attitudes of fucks like you.  I wish
              I were worthy of the privelage of paying an outragous fraction
              of my income into a mortgage on some fucking tract home
              surrounded by strip malls.  yep. Sour grapes all the way.  You
              just keep telling yourself that, buddy.
              \_ You are worthy.  Your spelling qualifies you.
              \_ Well, I live in San Francisco, with the cleanest air and
                 water of any big city in the nation. I don't sit in traffic,
                 in fact I don't even own a car. I use Muni to go back and
                 forth to work. And yeah, it is late sometimes, but even
                 on a bad day, it only takes me 50 minutes to get to work.
                 50 minutes I spend reading the paper, I might add.
                 \_ SF and north bay are tolerable. It's south bay/silicon
                    valley that is the shithole. -not previous guy
2025/07/08 [General] UID:1000 Activity:popular
7/8     

You may also be interested in these entries...
2013/3/11-4/16 [Reference/RealEstate] UID:54622 Activity:nil
3/10    I'm trying to help my parents, in their mortgage there's an
        "escrow" amount. What exactly is this? From reading Google,
        the loan company uses the escrow account to pay for home
        insurance, but they've been paying home insurance themselves.
        I'm really confused on what this fee is.
        \_ Without an escrow account, you write checks to your insurance
	...
2012/8/21-11/7 [Reference/Law, Reference/RealEstate] UID:54462 Activity:nil
8/21    I'm trying to negotiate rent renewal and my manager came
        back saying she can't do that due to Fair Housing Laws
        that states that if they adjust price for one person
        they need to adjust price for everyone else. Is this
        an actual law or some bullshit she just made up?
        \_ Probably bullshit.
	...
2012/7/25-10/17 [Politics/Foreign/Asia/Japan, Reference/History/WW2/Japan] UID:54444 Activity:nil
7/25    http://www.quora.com/Japan/What-facts-about-Japan-do-foreigners-not-believe-until-they-come-to-Japan
        Japan rules!
        \_ Fifteen years ago I worked there for seven months.  I miss Japan!
           (I'm Chinese immigrant.)  More facts:
           - Besides cold drinks, vending machines also carry hot drinks like
             hot tea and corn soup.  And they are actually hot instead of warm.
	...
2012/5/25-30 [Transportation/Car/RoadHogs, Reference/RealEstate] UID:54400 Activity:nil
5/25    Sorry suburban hicks, properties in walkable cities retain
        better values:
        http://dc.streetsblog.org/2012/05/18/study-resilient-walkables-lead-the-housing-recovery
	...
2012/3/7-26 [Reference/Tax] UID:54331 Activity:nil
3/7     "Michigan woman still collecting food stamps after winning $1 million
        lottery"
        http://www.csua.org/u/vp3 (news.yahoo.com)
        `"I feel that it's OK because I mean, I have no income and I have
        bills to pay," she said. "I have two houses."'
        \_ My first reaction was pretty hostile to her, but then, I
	...
Cache (3427 bytes)
csua.org/u/as3 -> sfgate.com/cgi-bin/article.cgi?f=/c/a/2005/01/20/BUGCEAT5FP1.DTL
SFGate Technology: It's a high-tech world - - we just plug you int o it... Despite earlier forecasts of softer housing demand in 2004, low interest rates drove the Bay Area real estate market to record levels last year. The median sale price of a single-family home in 2004 was $532,000, a 17 percent rise over $455,000 in 2003 and the highest for any year since 19 88, real estate information firm DataQuick reported Wednesday. A total of 134,848 houses and condos changed hands in the nine counties i n 2004, blowing past the previous peak of 122,149 set in 2003. Few housing experts expect a repeat performance this year, amid persisten t geopolitical uncertainties and signs that interest rates are poised to rise. "This year is going to be different," said John Karevoll, a researcher at DataQuick in La Jolla (San Diego County). December, a traditionally a slow time for real estate sales, closed out 2 004 in strong -- although not record-setting -- fashion. The median pric e for a single-family home hit $554,000, a 17 percent jump over the Dece mber 2003 median. The total number of houses and condos sold was 11,068, 25 percent below the level of 11,354 a year ago, the highest tally for any December in at least 16 years. In the face of ant icipated interest rate hikes, many economists had predicted that local a nd national real estate markets would cool. But after mortgage rates ros e for several weeks in the spring, disappointing job growth reignited fe ars about the economy, driving rates lower. The uncertainty created by b oth rising and falling rates prompted buyers to jump into the housing ma rket. "I was feeling pressure because when I made the offer, rates were going u p," said San Francisco lawyer Ken Sperandio, who bought a 1925 Sunset Di strict home in June. Sellers relished the rush of buying activity -- particularly if their equ ity allowed them to trade up to a bigger, better home. In the early mont hs of 2004, multiple offers on homes were common and some buyers made co ntingency- free offers, which, because they dispense with items like loa n approvals or inspections, heavily favor the seller. Other sellers decided to get out of the market altogether. After owning h is Cloverdale home for barely three years, George Brenegan, 69, sold it early in 2004 and plowed the $210,000 profit into stocks and other inves tments. The retired teacher is happy living with his daughter and her fa mily in their large home in Santa Rosa, where he hopes to add a 1,000-sq uare-foot, three- room in-law unit. However, Brenegan added, "I sold myself out of the market. Economists worry that higher mortgage rates this year could restrict buye rs' spending power and clamp down on the Bay Area housing market. Karevoll expects appreciation rates to ease from the mid- to high teens t o the single digits once the benchmark 30-year fixed mortgage rate climb s closer to 65 or 7 percent later in the year. Last week, mortgage gian t Freddie Mac said the 30-year fixed rate hit 574 percent, down from 5 77 percent. But others, like UCLA economist Christopher Thornberg, believe a more dra stic correction could be in the works because of the Bay Area's continue d falling rents and lackluster job and population growth. "People are buying strictly on the basis of price appreciation, and that' s a recipe for disaster," Thornberg said. The question now is when do we start coming down the other side?"