Explain the excitement over mortgage interest rates

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Chew Toy McCoy

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The issue there isn't just tech. It's that real estate is treated as a commodity, so pricing may not reflect actual demand. If the market was solely determined by people who want to live there, it would look different, particularly if local governments required residential construction at a rate proportionate to new office suites.

Very true. Foreign investment is also a big problem, but in the US if you have the cash then there is no problem. I believe Vancouver Canada actually passed some legislation to restrict foreign property investment, but I'm not sure of the specifics.

All the spotlight seems to be shined on jobs being outsourced to other countries or low level jobs being scooped up by undocumented workers crossing the southern border, but just as big of a spotlight should be beamed on immigrants taking the good paying jobs here, especially on temp work visas, while also greatly reducing the available housing market.
 
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DT

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I had different priorities and enjoyed my time not being strapped to a mortgage or soul-crushing career paths and hours.

Oh I understand not wanting to be a slave to a company, to spend a decade doing nothing but focusing on getting to some kind of financial stability (after school, work ...), lose the things you love, yourself, all for a massive financial burden.

I'd say, you can actually have both :D

By that I mean, professional autonomy, life freedom, the financials to support the things we find fun, and even at our age, that's comics, video games and theme parks __and__ a house. :cool:

Since my mid-20s, I've owned my own companies, I've never worked for "the man", I've done what I want, when I want, it took some very specific choices, some leaps of faith, I've generated some incredibly positive "life and business karma" that's allowed me when I was single and later, me and my fantastic partner/wife/BF to do my/our own thing.

I've turned down countless full-time, reasonably high paying C/V level gigs, because the value of being able to drop everything, and the three of us bolting down to Universal for 3-4 days is more important, but importantly, I haven't given up anything in terms of revenue.

It's funny, online, when I say I'm a software developer, I'm sure people have this notion of some subservient goob' trudging back and forth to an array of cubicles, 40-60 hours a week, who has a "boss", and doesn't get to explore interesting tech, express creativity - vs - my reality of working from an awesome home office, in shorts, calling my own shots, being in demand at prices I set and customers gladly pay, shutting down at noon if the surf beacons, and putting in an actual 20-ish hours a week of real heads down work :D

I hate to use the word, but I certainly recognize that I've been "lucky", even though a lot of luck is, as they say, "... what happens when preparation meets opportunity". :giggle:
 

ericgtr12

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No where to build in SF except up.

I‘m grateful for buyers, renters, and lessees.
This is true, although when you drive south on HW1 there are all those rolling hills which I'm guessing are protected but they can definitely develop on them if they wanted.
 

Chew Toy McCoy

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So if you are looking to flip your house to upgrade would this be a good time to sell your house and rent until the real housing (unpaid mortgages) crash happens and then get your upgrade house on the cheap?
 

Apple fanboy

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So if you are looking to flip your house to upgrade would this be a good time to sell your house and rent until the real housing (unpaid mortgages) crash happens and then get your upgrade house on the cheap?
Depends. House prices can rise an awful lot if investors see a better return on property than say shares or Bitcoin.
Plus the issue with buying and selling houses is the amount you pay in fees. It’s not like cashing in on other things. The price really has to go up by the time you factor in estate agent fees, taxes, moving costs and mortgage fees.
 

Chew Toy McCoy

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Depends. House prices can rise an awful lot if investors see a better return on property than say shares or Bitcoin.
Plus the issue with buying and selling houses is the amount you pay in fees. It’s not like cashing in on other things. The price really has to go up by the time you factor in estate agent fees, taxes, moving costs and mortgage fees.

But wouldn't those extra fees still be there regardless of when you buy? I'm asking if you had this plan to upgrade already, not just trying to take advantage of the market on a whim. So you would be factoring in those fees at some point regardless.
 

Apple fanboy

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But wouldn't those extra fees still be there regardless of when you buy? I'm asking if you had this plan to upgrade already, not just trying to take advantage of the market on a whim. So you would be factoring in those fees at some point regardless.
Yes there is that. But you are still banking on the prices going down. If they go up you are out of pocket not only the rent, but the money you lost in the sale and your next purchase.
 
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