Stijn!!

[Rick V]

Originally Posted by Noah930

Housing market in my neck of the woods is still dropping. I bought a home 2.5 yrs ago. Put 20% down. On paper, I've pretty much lost all of that. Zillow says its gone down about $16K in the last month, alone.

We are not at the bottom yet

[porsche4life]

You boys are just in the wrong part of the country... OK never really tanked, and we are going up again....

[HHI944]

Its pretty far out pf line with the rest of the island, that's the real problem....
my poa fees are 400/month...with all the same amenities from a practical standpoint.

[Rick V]

Originally Posted by porsche4life

You boys are just in the wrong part of the country... OK never really tanked, and we are going up again....

Ummmmmmmmmm
Lets see, flat, windy, desolate, agricultural....................Pass

[Noah930]

We are not at the bottom yet

Yes and no. I think we're pretty close. At least from what I projected looking at Case-Schiller data. I haven't checked it in a couple years. But I think we're at least approaching normalcy of home values from a historic perspective. Of course, the pendulum never just stops in the middle--it swings beyond into the negative before coming back this way. So we also have a bit more to go before we hit the opposite pole and things start looking better.

When I purchased my home, I realized the market was still falling and that we had another 20-30% to go down. I thin kmy realtor thought I was FOS. I did what I did because I didn't think interest rates would stay this low. It's not so good (for a prospective home buyer) to have historically cheap housing but expensive money (in terms of interest rates), either. So I thought I was making a move at a decent time, where lower home values and low interest rates were intersecting. I was wrong, and not only have home values continued to slide (as expected), but interest rates have gone even further down (though not by much)--which was not what I expected. I should have waited. Heck, I should continue to wait another couple years, as money will continue to stay cheap for the foreseeable future.

[slodave]

Originally Posted by Rick V

Ummmmmmmmmm
Lets see, flat, windy, desolate, agricultural....................Pass

Better cell reception though.

[vas930]

This is why I only invest in commercial proprties.

[porsche4life]

Ag and oil Rick.... Out here you could be turning wrenches 24/7/365 and still have a line out the door.... Its crazy busy still.

My uncle works with a company that ads chemicals to a process in NG productions. He sits in his truck and monitors the flow rate, and keeps the chemical flow at 10ppm.... He's making around 70k per year and has a company 3/4 4wd dodge that he uses for personal too... Course he's pretty familiar with the 100hr week...

[slodave]

Originally Posted by vas930

This is why I only invest in commercial proprties.

Commercial can be done out here still, but it took a big hit with the economy as well. It wasn't about the loans, no one was spending money, so the shops went out of business. There are still a lot of empty storefronts in the strip malls around here.

[vas930]

And all good reasons to move to Australia.

And the women!

[porsche4life]

How are sales jobs down there Vas?

[Rick V]

Originally Posted by slodave

Better cell reception though.

Well I guess so when one tower can cover an area the size of Rhode Island

[Noah930]

Would agree with Dave. I don't think commercial is an easy game, either. There are a lot of empty storefronts in main commercial areas here in LA.

[porsche4life]

Cell reception isn't great in OK really... Low population, some places its not financially smart to build towers due to low usage. Its great along the interstates and major state highways, but get way out in NW or SW OK and you are fuched....

[porsche4life]

But it takes more capital upfront to get into the commercial game....

[Rick V]

Originally Posted by porsche4life

Cell reception isn't great in OK really... Low population, some places its not financially smart to build towers due to low usage. Its great along the interstates and major state highways, but get way out in NW or SW OK and you are fuched....

Okay so that settles it Ok, must suck.

[Flieger]

I was looking for those scenes in the Blues Brothers with Carrie Fisher and the rocket launcher and then the ending with the AK-47 or whatever it is but no HQ versions seem to turn up on youtube.

I thought they would fit in this thread with all the talk of crazy women.

[vas930]

Originally Posted by porsche4life

How are sales jobs down there Vas?

That is the weakest part of our economy.
The internet and high Aust dollar make it better to buy off you guys.
We have a mining boom here.
We keep digging it up and China keeps buying.
As a nation we have no real debt.
We are more a part of asia than the US or Euro.
Asia is in a huge growth period.
But it wont last forever.
In good times one must save for the bad.

[slodave]

Originally Posted by vas930

Yes, but its less up and down....

I agree, but retail is not moving here. Commercial properties leasing office space would be better off. There are way too many boutique stores around and not enough customers. I noticed a lot of "party" stores. in strip malls. Always selling balloons, some flowers and other party stuff. Almost all of those storefronts are now vacant. Same goes for a lot of the small clothing stores. Most people are still not buying that stuff and will settle for Macy's or other big shopping centers. Similar clothes at a fraction of the cost.

Property owners that own strip malls are not doing so well. Half the property vacant and like you said, there is still maintenance.

A building that rents to lawyers, doctors, accountants would be a better investment at this time.

[porsche4life]

Originally Posted by Rick V

Okay so that settles it Ok, must suck.

Yes, but I could hock a house no problem for good money, and my folks just finished off their best business year ever, and this year is already kicking last years ass....

We have multiple customers building $2mm+ Convenience stores here....

Originally Posted by vas930

That is the weakest part of our economy.
The internet and high Aust dollar make it better to buy off you guys.
We have a mining boom here.
We keep digging it up and China keeps buying.
As a nation we have no real debt.
We are more a part of asia than the US or Euro.
Asia is in a huge growth period.
But it wont last forever.
In good times one must save for the bad.

I'm talking sales rep for large companies....