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A Ron Paul presidency in 2012? HA HA. That is funny.
Now is also a great time to be a landlord with rising rents and low vacancy rates!
Schiff is likely a millionaire, but plays it smart and doesn't own. I'll bet he's renting a multi million dollar house for half what it would cost to own.
Don't be so sure klarek. I think Schiff rents in Connecticut, where rents tthere can be quite expensive. YOur not renting for half the price of owning in Greenwich.
Peter Schiff's father's rent is FREE... courtesy of the Federal Bureau of Prisons.
I used to rent at Avalon at Edgewater from 2003 to 2005, on River Rd in New Jersey, just across the water from Manhattan. It was alright, but there was a creepy old couple that lived there. It was all twenty-somethings except this "Ira and Frieda" who totally stuck out because they were in their fifties. Weird.
Turns out that was a bad time to rent. If you bought in 2003 and sold in 2005 you made a fortune. But if you waited out this period, and then bought in 2005, well, you are not doing so well right now.
"Housing Prices Drop By The Hour"
"These numbers are sobering: If you are a homeowner reading this right now, when you wake up in the morning, the value of your house will have dropped "
"I was really surprised," said Logue. " Especially at the end when we really dropped our pants down and I felt we were giving it away, and we still couldn't sell it."
http://cbs4.com/consumer/Housing.Crisis.Prices.2.779666.html
So it turns out that creepy old couple I talked about decided to stop renting at the Avalon and jump head first into what they thought was a rising NJ real estate market. It was rising until the moment they jumped off the diving board in 2005. But suddenly the pool quickly drained.
"The government could boost housing prices by buying 1 million new or unoccupied homes, "blow them up, and then start all over again,'' Mr Gross wrote, adding that the suggestion comes from "one of the wisest men I know.''
The government is going to demolish houses? Or is that just a joke?
Gee, I may ask my landlord what my rent for 2009-2010 would be just to test Alpine's thoery on rents..........remember, people will consolidate--the next knock on your door may be family looking for a place to shack up until they can get back on their feet.
My rent hasn't changed a dime in 2 re-ups. And similar places around me are going for 10% less than what I pay now. Landlords don't have any leverage these days, with everyone and his brother trying to rent because they can't sell.
Great idea 3girls. Move into your mother's basement!
if i were alpine
i would sell my NJ house
take the loss now
it's only going to get worse
then rent in manhattan
and wait for the prices drop
because
"There has never been a better time to be a renter"
the trend is your friend
and one must learn
to go against the trend
is like getting hit by a truck
it hurts
anyways
good luck
As usual, you have no clue what you are talking about waiting4ever. Rents are going up in Manhattan and NJ.
Where Prices Increased:
Harlem— Non-doorman studios (3.4%), doorman studios (3.7%), doorman one-bedrooms (0.8%), doorman two-bedrooms (0.1%)
Upper West Side— Doorman studios (1.8%), non-doorman one-bedrooms (5.1%), doorman one-bedrooms (2.4%), non-doorman two-bedrooms (0.6%), doorman two-bedrooms (3.5%)
Upper East Side— Non-doorman studios (0.7%), doorman two-bedrooms (4.9%)
Midtown West— Doorman studios (0.7%), doorman one-bedrooms (2.1%), non-doorman two-bedrooms (0.5%), doorman two-bedrooms (4.5%)
Midtown East— Doorman studios (3.2%), doorman one-bedrooms (0.4%)
Murray Hill— Non-doorman studios (1.8%), doorman studios (1.6%), non-doorman one-bedrooms (0.6%), doorman one-bedrooms (3%), non-doorman two-bedrooms (6.4%)
Chelsea— Non-doorman studios (1.3%), doorman two-bedrooms (1.8%)
Gramercy Park— Non-doorman studios (4.8%), non-doorman one-bedrooms (1.1%), doorman two-bedrooms (1.9%)
Greenwich Village— Doorman one-bedrooms (4%), doorman two-bedrooms (0.7%)
East Village— Doorman studios (2%), doorman one-bedrooms (4.6%)
SoHo— Doorman one-bedrooms (4.7%), doorman two-bedrooms (1.6%)
Lower East Side— Doorman studios (0.8%), non-doorman one-bedrooms (5.1%), non-doorman two-bedrooms (4%), doorman two-bedrooms (5.8%)
TriBeCa— Doorman studios (1.3%), doorman one-bedrooms (2.6%), doorman two-bedrooms (1.4%)
Financial District— Non-doorman studios (6.6%), doorman studios (3.3%), non-doorman one-bedrooms (2.4%), doorman one-bedrooms (4.2%), doorman two-bedrooms (2.6%)
Battery Park City— Doorman two-bedrooms (2.9%)
i gave similar advice to some friends in vegas a few years back
now they are really kicking themselves in the ...
opportunity cost of 200K+
on the plus side they're not underwater yet
they bought in 1999
watch out for the truck
learning is painful
alpine, maybe you can get an apartment
in your mom's building
anyways
good luck
Nice try troll, but my degree is 100% legitimate... unlike the degree you paid $500 for.
And I did not say I am getting my money from my parents. I said I have 2 wealthy grandmothers. I guess reading comprehnsion is not a strong skill of trolls.
You were born March 2nd, 1952. The chance that you have two living grandmothers I would say is quite slim. But why not, we are online, right? Why not claim that one of them is Queen Beatrix of the Netherlands? If you are going to go to the land of make believe, why hold back?
I was not born in 1952. I am in my 30s. If you want to keep thinking that I am 50 something years old, go right ahead.
i think you are taxed
on estates over 250K
it's been a while since i looked
did bush get rid of it?
i know the republicans
hated that estate tax
tell your grandmothers
to start gifting you 10K /year
they can do this without tax
if you get it all after they pass
you may have a large tax bill
anyways
good luck
That is the smartest and most useful thing you have said to date waiting4ever.
Rents are not declining in Los Angeles, at least not in the safe neighborhoods. Rents have been fairly stable and most/many buildings are controlled by local ordinance (i.e., can't increase by more than 3% a year). Rent is actually pretty low on average (no more than 2/3 the price of a mortgage for the same property). Most landlords take their 3% annual increase year after year...I simply don't see rents declining.
If Alps Bubbe is like mine she ain't giving him any $$ until she leaves this earth still trying to take it with her. My grandmother is so tight fisted she yells at her caregiver every time the bill is due but then yells when the woman tries to leave the room since she is so dependant on her.
Every owner who can't sell will try and rent it-if they have to leave the house.........almost every other house I drive by here in Tampa says Lease/or Own.......they don't care how but they want someone else to foot the bill for their foolishness. An apartment complex that was being transitioned into condos is now apparently not selling any more but leasing......why cause the money to be made in selling is no longer there so now there are many more apartments on the market.
There are not that many houses available for rent in my area. The vacancy rate here is only about 3.5%. Very rarely do I ever see any "for rent" signs.
"Other analysts, such as Thornberg, disagree, saying all home prices need to track incomes better."
"For Thornberg, he suggests waiting to buy until the end of 2009. That is when he will start looking to purchase, he said."
"Even if we are at the bottom, I don't care," Thornberg said. "Because they (prices) are not coming up anytime soon."
like some of these in Alpine, NJ maybe ?
http://newjersey.craigslist.org/search/apa?query=alpine
or these !
http://newjersey.craigslist.org/search/apa?query=Bergen+County&minAsk=min&maxAsk=max&bedrooms=
... and, it's free and anonymous
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"There has never been a better time to be a renter."
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"HP: You still rent we hear. Any thought of buying yet? What's your signal to buy?"
"Schiff: Not a one. In fact, with more and more rentals coming on the market, there has never been a better time to be a renter. Government “bailouts” may slow down the pace by which real estate prices fall but ultimately lead to an even bigger decline. We are still closer to the top of the real estate market then the bottom. Patience will be rewarded, especially if none of your purchase money is saved in dollars."
http://housingpanic.blogspot.com/2008/07/housingpanic-exclusive-five-questions.html
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