Why are the masses so fcuking dumb?

[sillymofo]

This in general has to do with real estate, and the current housing prices in California. Since the interest rate is low, all kinda idiots and their brother pour out to buy their house, which drive house prices up in a ridiculous fever. Don't they fcuking know by doing so, the padded prices will come out to be more if they would have pay and extra 3% interest for 30 yrs? (Principally speaking)

It doesn't take advance algebra to figure this shiet out. </rant> This is because I'm looking for a house and it's very disturbing to see what kind of prices people want for their junks, and people are still buying it (two days after listing), because "interest" is so low

.

 

[pulse8]

Why do all individuals claim to be so smart?

 

[JustAnAverageGuy]

because the number of people is the exponet for the stupidityness.

Stupidness ^ # of people.

Quite simple really. Stupidity is exponential

 

[jadinolf]

The house next door recently sold for $609K. It is a plain wood frame house with no features to brag about.
I was astounded to hear what it sold for but just last week I learned that the buyer bought it as is and it has extensive termite damage.

I'm sure he paid $250K too much.

 

[HappyPuppy]

You are the dumbass(s). Buy it now for whatever it is selling for and in 20 years it will be worth 4x as much.

If you are looking for a quick buck, however, now is not the time to buy.

 

[LAUST]

House prices are friggin insane, I feel sorry for anyone who is a first time buyer in todays markets.

 

[Queasy]

You can thank your local politicians in California for the ridiculous house prices. Building restrictions and various other over-board regulations have driven the prices of homes to ridiculous limits.

Though, I do wish I had been old enough to buy a house in California say about 15-20 years ago.

 

[sillymofo]

Originally posted by: HappyPuppy
You are the dumbass(s). Buy it now for whatever it is selling for and in 20 years it will be worth 4x as much.

If you are looking for a quick buck, however, now is not the time to buy.

No, you and your irk are the dumb asses. It's because of thinking like this + "low interest" that's driving these shacks to a ridiculous amount more than they're worth, if left on a natural course for the next 5 years. So, no, but thanks for trying. Just do some quick math, and you'll see who's the dumb ass.

 

[PlatinumGold]

Originally posted by: cr4zymofo
This in general has to do with real estate, and the current housing prices in California. Since the interest rate is low, all kinda idiots and their brother pour out to buy their house, which drive house prices up in a ridiculous fever. Don't they fcuking know by doing so, the padded prices will come out to be more if they would have pay and extra 3% interest for 30 yrs? (Principally speaking)

It doesn't take advance algebra to figure this shiet out. </rant> This is because I'm looking for a house and it's very disturbing to see what kind of prices people want for their junks, and people are still buying it (two days after listing), because "interest" is so low

.

your the MORON for thinking that interest rates are the only factor in determining prices.

southern cal happens to be where everyone is moving to, factors of Supply and Demand are just as important as interest rates.

 

[sillymofo]

Originally posted by: PlatinumGold

Originally posted by: cr4zymofo This in general has to do with real estate, and the current housing prices in California. Since the interest rate is low, all kinda idiots and their brother pour out to buy their house, which drive house prices up in a ridiculous fever. Don't they fcuking know by doing so, the padded prices will come out to be more if they would have pay and extra 3% interest for 30 yrs? (Principally speaking) It doesn't take advance algebra to figure this shiet out. </RANT>This is because I'm looking for a house and it's very disturbing to see what kind of prices people want for their junks, and people are still buying it (two days after listing), because "interest" is so low

.

your the MORON for thinking that interest rates are the only factor in determining prices. southern cal happens to be where everyone is moving to, factors of Supply and Demand are just as important as interest rates.

Actually, this and the last year are the only years that more people are moving OUT of California than IN. So strike one.

Most of the idiots out there are bombarded with "low interest rates" commercials, but they forgot to think what a 10% increase to the principal is gonna do to their "low interest" in 15, or 30 years. Essentially, that's what I'm trying to say, and if you're still disagreeing with me, so be it (I know there's gotta be some body on this forum that can do some basic calculations).

 

[Queasy]

Originally posted by: cr4zymofo

Actually, this and the last year are the only years that more people are moving OUT of California than IN. So strike one.

LEGAL residents, yes. There was still a net population growth due to illegal immigration.

Again, California state regulations and restrictions are a good portion of the cause of the housing price spikes. These regulations and restrictions are severely limiting the supply of housing, thus driving up the price.

 

[sillymofo]

Originally posted by: Queasy

Originally posted by: cr4zymofo Actually, this and the last year are the only years that more people are moving OUT of California than IN. So strike one.

LEGAL residents, yes. There was still a net population growth due to illegal immigration.

Again, California state regulations and restrictions are a good portion of the cause of the housing price spikes. These regulations and restrictions are severely limiting the supply of housing, thus driving up the price.

ILLEGALs can't buy houses, should we exclude them? (I know, I know, they gotta have somewhere to live right?)

 

[Cyberian]

Originally posted by: cr4zymofo

Originally posted by: HappyPuppy
You are the dumbass(s). Buy it now for whatever it is selling for and in 20 years it will be worth 4x as much.

If you are looking for a quick buck, however, now is not the time to buy.

No, you and your irk are the dumb asses. It's because of thinking like this + "low interest" that's driving these shacks to a ridiculous amount more than they're worth, if left on a natural course for the next 5 years. So, no, but thanks for trying. Just do some quick math, and you'll see who's the dumb ass.

You are the one mouthing off.
Why don't you show ussome figures?

 

[Queasy]

Originally posted by: cr4zymofo

Originally posted by: Queasy

Originally posted by: cr4zymofo Actually, this and the last year are the only years that more people are moving OUT of California than IN. So strike one.

LEGAL residents, yes. There was still a net population growth due to illegal immigration.

Again, California state regulations and restrictions are a good portion of the cause of the housing price spikes. These regulations and restrictions are severely limiting the supply of housing, thus driving up the price.

ILLEGALs can't buy houses, should we exclude them? (I know, I know, they gotta have somewhere to live right?)

Illegals can buy houses....just not legally. They usually jump through some hoops to get houses.

And you also have to consider the effect that they have on the availability of apartments. This drives up both apartment rent prices and housing prices because it sends more people looking for homes.

 

[Kremlar]

No, you and your irk are the dumb asses. It's because of thinking like this + "low interest" that's driving these shacks to a ridiculous amount more than they're worth, if left on a natural course for the next 5 years. So, no, but thanks for trying. Just do some quick math, and you'll see who's the dumb ass.

What makes you think house prices are going to drop? Real estate rarely ever does - it's one of the safest investments one can make. Do I wish I had purchased 6 years ago instead of 2 years ago? Of course. But if you keep waiting, prices more than likely will continue to rise.

One of the silliest things people do is convince themselves that paying rent isn't throwing money away.

 

[thomsbrain]

it's not just interest, it's simple supply and demand.

 

[OS]

The house prices situation in california is f*cking ridiculous. My parents own a 2nd home, it's a small 3 bedroom 1100 sq ft house that's 20 ys/o. I was joking with my dad that I might buy it from him and he's like, you know that piece of sh*t is worth 250k+ now?

The traffic and house pricing makes me want to move out even though I've lived here my whole life. More people need to die.

 

[coolVariable]

Originally posted by: cr4zymofo
This in general has to do with real estate, and the current housing prices in California. Since the interest rate is low, all kinda idiots and their brother pour out to buy their house, which drive house prices up in a ridiculous fever. Don't they fcuking know by doing so, the padded prices will come out to be more if they would have pay and extra 3% interest for 30 yrs? (Principally speaking)

It doesn't take advance algebra to figure this shiet out. </rant> This is because I'm looking for a house and it's very disturbing to see what kind of prices people want for their junks, and people are still buying it (two days after listing), because "interest" is so low

.

because you are just like them.

you buy now - you save 3% on interest rate over 30 years.
you buy later - you save approx. the same (but pay higher interest)
now figure it out smartas$

 

[faZZter]

Originally posted by: cr4zymofo

Originally posted by: HappyPuppy
You are the dumbass(s). Buy it now for whatever it is selling for and in 20 years it will be worth 4x as much.

If you are looking for a quick buck, however, now is not the time to buy.

No, you and your irk are the dumb asses. It's because of thinking like this + "low interest" that's driving these shacks to a ridiculous amount more than they're worth, if left on a natural course for the next 5 years. So, no, but thanks for trying. Just do some quick math, and you'll see who's the dumb ass.

Ok let's do some quick math...

I bought overpriced house 22 months ago for 244K, now it is worth 390K.

That's a potential profit (if I wanna sell it) of about 146K minus 5K to sell it, so about 141K profit - all of which I can keep tax free if I wait two more months before selling it. So I guess that makes us buyers stupid huh?

The prices are high because of the low interest rate and supply/demand. Many more people qualify for a house loan now that interest rates are low. CA is overpopulated anyway, so there is alot of potential buyers.

Let's see you make that kind of return on your money in the stock market.

 

[Mill]

Did you ever consider YOU are the dumbass for living in California knowing well that they have inflated housing prices? It isn't the masses that are stupid, it is you being an ignorant dumbass.

 

[bolido2000]

Illegals can do anything they want here in CA (maybe after 9/11 is different dunno). You are a dumbass if you think you cannot buy houses, cars, insurance, work (decent, not just at restaurants or farm) if you are illegal. I know a lot of chinese who are illegal and live very well.

 

In niche markets like that usually a rash of foreclosures slightly regulates the housing cost.
So. cal is a very unique market. Yes, it is appreciating at a very fast rate but that is directly determined by the supply and demand of the area.

The only person who is a dumbass is you for not buying right now, if you havn't yet. What's even dumber is whining about how someone is willing to buy into a nearly sure shot appreciating investment.
The name of the game is borrow money now, or forever hold your peace.

 

[sillymofo]

OK, may be I'm the dumb ass, but I didn't rant without reasons. I do know that the more I delay, the more I'll have to pay for a POS, which is what every one is doing right now any way.

But wouldn't you agree with me that because of this buy it now attitude, that's the reason for the ballooning prices? It's not so much supply and demand, it's the "well, shiet, every one is buying, I gotta buy too" mentallity that allows the seller to jack their prices up to no limits. Never before have I seen houses that are listed and sold two days later (in some cases 1).

Wouldn't you also agree that because of the "low interest" that entice the masses to buy a house in the first place? And from there, it snow balls. I know I'll have to buy soon, but I really hate buying a house now and paying year 2015 prices for it. The way it's going, every one's gonna own a house with the true values waaayyyy below what they should get for their money, kinda like the "tech bubble", if you know what I mean.

Some one mentioned that they made money on a house, I'm not refuting that fact, I'm just pointing out that if not for the stupidity of most people, you would never have made that much in two years. Taken from your example, this is what I'm talking about:

You said you bought your house for $244K, two years ago, the interest rate was probably around 6.5 % right? = do quick compound interest here.
Today, your house is worth $390K, according to you, and the interest rate (median) is around 4.4- 5.5% right? = do quick compound interest here and compare.

Now, most people would ignore the fact that it's $154K more (and all are thinking the house will gain in value, and it's "market value", once again, I'm not disputing this fact), but they're hypnotized with the "low interest" green light => creating false demand. That and "Oh, I gotta buy now or I won't get the low interest rate" thinking that I have previously mentioned.

Bottom line is, if there were more people that think like I do, you won't see that $154K jump in your house's value in less than two years. But I guess, if I can't beat them, I'll be another dumb ass (as you all chimed in) and buy into this house buying craze, like every one else. Yes, and I do know your house won't lose value, unless some drastic events affecting it.

 

[sillymofo]

dp.

 

[AvesPKS]

Because they're the masses? Everybody can't have above average intelligence, otherwise nobody would be average.