Haha Texas you get so much house for the money it’s scary.
Yes you are correct just ship the car if need be. It’s worth the savings.
Wife and I are leaving jersey too. A 20% bump in salary does not accommodate for the awful awful housing costs and taxes.
The market should cool off here soon. No way it can keep going up like it has been.
I keep hearing that… Wife and I got outbid on a home with someone offering $1.3M all cash… and even he ultimately lost.
That guys out there bidding on the next one.
Well there was another aspect here that wasn’t in play years ago. Foreign money. That has made it so the market in certain areas have not had a chance to cool off. It’s ok though it is coming soon. There is no such thing as a market that goes straight up. At least not a healthy market. The cool off is coming it just took longer than most people expected.
Human nature is to chase things when they feel like they are losing out on them. The problem is that logic is what got people stuck in the last market run before it collapsed. Be patient and remember cooler heads prevail. With houses it is hard to follow traditional logic, but if you can you will be better off in the long run. Buy it when nobody wants it and sell it when everyone wants.
20% off? That is pretty good deal.
Wait until Trump tax plan passes and with mortgage and local tax deduction reduced or eliminated, the market in California will come crashing and #MAGA
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Wow how did you manage to get that deal? If this was last year it was on a brand new released GLE… That belongs in the trophy garage!
I believe I do have it in the Trophy Post. Correction it was around $53k - 14% off whatnot.
From experience and with some of the investors I work with- you have to understand a couple of things why we continue to buy in California.
My work targets specifically in Orange County but my teams NorCal would agree with some of the same reasons as follows:
Can’t replicate the perfect weather here in OC (I don’t know anywhere in the world that has better weather, not even Hawaii comes close), supply is overwhelmingly short, I see a lot of folks purchasing all cash thus a lower liability in the overall RE market, and people are still buying.
I agree though - real estate is expensive. But when people are telling me crash crash crash- it sounds like I’m sitting on a roulette table or someone calling coin flip. I like to look into the what’s, what’s going on, and how big an effect something has on the market.
There is one thing I am worried about- and that is EARTHQUAKES. But even given a massive earthquake - I believe that recovery would be quick seeing how other states recovered from natural disasters. People either rent or buy. More renters higher cash-flow thus creating a demand for investors who want cash flow. More buyers higher appreciation. It’s all relative. One way or the other- real estate is an essential product and an asset class all in its own.
You a guru for leasing but that is not going to happen because of taxes. A lot of cash purchases can care less about that deduction. The middle class at least retains up to 500k in interest deduction. More progressive plan i have not seen. 