What makes one "invested" in America?

#51
#51
Rasputin_Vol said:
You may not want to hear it, but baby boomers have had it good their entire lives. They were coddled in nuclear families in the 1950's, enjoyed the sex/drugs/rock n roll era of the 60's and 70's, enjoyed the economic boom of the 80's and 90's, and enjoyed purchasing 2nd homes during the housing boom of the 2000's. Now, they are sucking resources from the generations behind them as they retire.

No generation was given so much and returned so little. From nuclear families to broken homes. From an era where the next generation had it better than the previous generation, to an era where the kids of today are burdened at 18-20 years old with knee buckling student loan debt. From purchasing a home after getting established in their late 20's to moving back into their parents home and searching for work still in their late 20's today.
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Like I'm supposed to feel guilty about being born in 1949. I have seen the best years that this country has ever offered. You need to blame your politicians for this mess, not people like me who have kept the country afloat by paying taxes the last 40+ working years.
 
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#52
#52
1972 Grad said:
Like I'm supposed to feel guilty about being born in 1949. I have seen the best years that this country has ever offered. You need to blame your politicians for this mess, not people like me who have kept the country afloat by paying taxes the last 40+ working years.
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Who's more responsible for voting for these politicians? Baby boomers have a 20-25 head start on voting over Generation X.
 
#53
#53
Rasputin_Vol said:
So wait, build yourself or subcontract the construction of a home that will be good enough to sell in a half million dollar neighborhood, roll the dice and sit on it for 2 years (in this economy) and hope that cash sales don't bottom out, the hidden foreclosures don't quickly surface and saturate the market, or that interest rates don't jump up?

And this is your recipe for prosperity in 2015?

OK
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Don't act like a hyper reactive female. The question of how someone can make money tax free was posed. I provided an example. Your opinion of the viability, feasability, or profitability are inconsequential to me.
Your familiar with middle Tennessee. Williamson county saw very little effect in the housing bubble. And it continues at this very moment to have a strong housing market.
A half million dollar home can be built for 250k. It is the same process as it is for 75k starter home. It is simply larger, higher end fixtures,and has more stringent requirements due to codes or HOAs.
 
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#54
#54
Rasputin_Vol said:
Also, let me ask you... who is out here buying these half million dollar homes? It certainly isn't people in their 20's and 30's looking for a starter home. Most of those people are on the sidelines or living at home because they can't find work and/or burdened with student loan debt.

So who is buying these homes? Blackstone?
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People in their 20's and 30's need to work their way up the ladder before they can expect to buy expensive homes. Most want to start at the top.
Let me give you my perspective on expensive homes. I built one in a restricted neighborhood, and lived in it for 9 years. It was paid for, but I sold it to a doctor a year and 9 months ago. With the sorry real estate market in my town, I wound up losing a few thousand dollars (probably less than 10) after the real estate commissions were paid.

I have never been happier in my life, because the neighborhood was full of snobs, who thought that they were better than everyone else. I have been paying rent for the last year and 9 months in a modest home, and will buy or build again, but much smaller, and not in a fancy neighborhood. I had no trouble with the restrictions, just the people.
 
#57
#57
McDad said:
Don't act like a hyper reactive female. The question of how someone can make money tax free was posed. I provided an example. Your opinion of the viability, feasability, or profitability are inconsequential to me.
Your familiar with middle Tennessee. Williamson county saw very little effect in the housing bubble. And it continues at this very moment to have a strong housing market.
A half million dollar home can be built for 250k. It is the same process as it is for 75k starter home. It is simply larger, higher end fixtures,and has more stringent requirements due to codes or HOAs.
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A half million dollar home will probably cost more than a half million to build in my town.
 
#59
#59
McDad said:
Really? Why?
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Terrible housing market. Any half million dollar house here will sit on the market at least a year. When people who have to sell finally are able or forced to take a loss, the house may sell eventually. Four new spec houses in my neighborhood ( built about 2006 to 2008)took 2 to 5 years to sell after the builders dropped prices that started from about $500-700,000 by about 20%.

I had one on the river on 2.3 acres on a $90,000 lot in the best neighborhood in town. 3,800 heated square feet, plus porches, plus 700 square feet dry basement storage, plus 560 square foot unfinished bonus room, all brick with just a touch of Hardie plank, plus 42x26 ft. 3 car attached garage, Pella wood windows and doors, 8 sliding doors and several large casement windows on back looking out at the river. All 3/4" oak flooring and tile ( no carpet), stainless appliances. All stained oak window and door trim, and stained oak interior doors ( a bunch of them). 4 bedrooms, 3 full baths, a wide concrete driveway about 250 feet long , etc .

Everything on the house was very well done. You could stand on the front porch and look through the house and see a half mile of river coming at you before it made a turn just at the back of the property. The great room and foyer together were 40 feet from the front door to the back of the house with a 19 foot cathedral ceiling. There was not a house behind it for at least a half mile, and you could barely see it when the leaves were down. Four porches on the back (2 up, 2 down) looking out at the river and trees and wildlife.

Houses in the neighborhood range from around 400k to a couple million. It was our custom built dream house, and I was glad to leave it, and am one of the lucky ones who have been able to sell. Most people in our area, who can afford to buy, want to build their own.

When our house sold after 7 months, after dropping the price 25,000, an appraisal was done , and there were only 3 comps in the price range. In the entire county, only 3 houses had been sold ( near the price) in the previous 12 months, which was as far back as they will go on appraisals.

Remember, there are probably 40 houses in the neighborhood with all lots over an acre, and mine was about an average price house in that neighborhood. Everyone who lives there is probably stuck there forever, unless they want to lose big bucks. I think my house sold mostly due to the river and mountain views. Only about 8 out of about 40 are on the river.
 
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#60
#60
1972 Grad said:
Terrible housing market. Any half million dollar house here will sit on the market at least a year. When people who have to sell finally are able or forced to take a loss, the house may sell eventually. Four new spec houses in my neighborhood ( built about 2006 to 2008)took 2 to 5 years to sell after the builders dropped prices that started from about $500-700,000 by about 20%.

I had one on the river on 2.3 acres on a $90,000 lot in the best neighborhood in town. 3,800 heated square feet, plus porches, plus 700 square feet dry basement storage, plus 560 square foot unfinished bonus room, all brick with just a touch of Hardie plank, plus 42x26 ft. 3 car attached garage, Pella wood windows and doors, 8 sliding doors and several large casement windows on back looking out at the river. All 3/4" oak flooring and tile ( no carpet), stainless appliances. All stained oak window and door trim, and stained oak interior doors ( a bunch of them). 4 bedrooms, 3 full baths, a wide concrete driveway about 250 feet long , etc .

Everything on the house was very well done. You could stand on the front porch and look through the house and see a half mile of river coming at you before it made a turn just at the back of the property. The great room and foyer together were 40 feet from the front door to the back of the house with a 19 foot cathedral ceiling. There was not a house behind it for at least a half mile, and you could barely see it when the leaves were down. Four porches on the back (2 up, 2 down) looking out at the river and trees and wildlife.

Houses in the neighborhood range from around 400k to a couple million. It was our custom built dream house, and I was glad to leave it, and am one of the lucky ones who have been able to sell. Most people in our area, who can afford to buy, want to build their own.

When our house sold after 7 months, after dropping the price 25,000, an appraisal was done , and there were only 3 comps in the price range. In the entire county, only 3 houses had been sold ( near the price) in the previous 12 months, which was as far back as they will go on appraisals.

Remember, there are probably 40 houses in the neighborhood with all lots over an acre, and mine was about an average price house in that neighborhood. Everyone who lives there is probably stuck there forever, unless they want to lose big bucks. I think my house sold mostly due to the river and mountain views. Only about 8 out of about 40 are on the river.
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Sounds nice..... Where was this?
 
#61
#61
McDad said:
Don't act like a hyper reactive female. The question of how someone can make money tax free was posed. I provided an example. Your opinion of the viability, feasability, or profitability are inconsequential to me.
Your familiar with middle Tennessee. Williamson county saw very little effect in the housing bubble. And it continues at this very moment to have a strong housing market.
A half million dollar home can be built for 250k. It is the same process as it is for 75k starter home. It is simply larger, higher end fixtures,and has more stringent requirements due to codes or HOAs.
Click to expand...

You just named one of the exceptions to the rule. There are generally more places like South Florida or Las Vegas that you will be entering a saturated market full of homes like this vs one of the few counties in the country that actually saw growth. Trying to flip houses that qualify for jumbo loans is probably one of the riskiest moves you could ask anyone to make. Flipping a starter home that you only have about $25k-40k invested in? That seems more realistic, but even then, it goes back to my concern about Millennials not being able to afford housing because they can't find work and the inevitability of interests rates rising, which would choke off even more possible buyers.
 
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#62
#62
1972 Grad said:
Houses in the neighborhood range from around 400k to a couple million. It was our custom built dream house, and I was glad to leave it, and am one of the lucky ones who have been able to sell. Most people in our area, who can afford to buy, want to build their own.
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That is another good point. If you build a home and live in it for 2 years, you are hoping to find that buyer that doesn't want to build their own dream home and instead is happy with house that you built.
 
#64
#64
Rasputin_Vol said:
You just named one of the exceptions to the rule. There are generally more places like South Florida or Las Vegas that you will be entering a saturated market full of homes like this vs one of the few counties in the country that actually saw growth. Trying to flip houses that qualify for jumbo loans is probably one of the riskiest moves you could ask anyone to make. Flipping a starter home that you only have about $25k-40k invested in? That seems more realistic, but even then, it goes back to my concern about Millennials not being able to afford housing because they can't find work and the inevitability of interests rates rising, which would choke off even more possible buyers.
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Of course I did. Because if I'm building my primary residence with an intention to sell in 2 years, I am going to do my research and pick the strongest market I can. AND pick an area where I want to live even if it doesn't sell.
Also, you assume I would have a mortgage. I would recommend paying for construction free and clear. No mortgage once completed. Beginning with a starter home and doing this process a few times one can have a home with no mortgage.
 
#65
#65
Rasputin_Vol said:
That is another good point. If you build a home and live in it for 2 years, you are hoping to find that buyer that doesn't want to build their own dream home and instead is happy with house that you built.
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This is a VERY good point. The people I know who do this successfully spend a lot of time researching trends, so that the home is appealing to the largest number of buyers.
 
#66
#66
1972 Grad said:
Like I'm supposed to feel guilty about being born in 1949. I have seen the best years that this country has ever offered. You need to blame your politicians for this mess, not people like me who have kept the country afloat by paying taxes the last 40+ working years.
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"Your" politicians? Aren't they "our" politicians?

I'm at the tail end of the baby boomers and, while I agree on the working and paying taxes part, my biggest criticism is that we've allowed ourselves to be manipulated time and time again. This manipulation has divided us to the point of no compromise among many critical issues. Which is stupid because we acknowledge we share more commonalities yet we continue to allow the focus to be on the differences.

But, the bottom line is electing effective politicians is our foremost responsibility. But, we've shirked that responsibility and now must live with the result.
 
#67
#67
Rasputin_Vol said:
You may not want to hear it, but baby boomers have had it good their entire lives. They were coddled in nuclear families in the 1950's, enjoyed the sex/drugs/rock n roll era of the 60's and 70's, enjoyed the economic boom of the 80's and 90's, and enjoyed purchasing 2nd homes during the housing boom of the 2000's. Now, they are sucking resources from the generations behind them as they retire.

No generation was given so much and returned so little. From nuclear families to broken homes. From an era where the next generation had it better than the previous generation, to an era where the kids of today are burdened at 18-20 years old with knee buckling student loan debt. From purchasing a home after getting established in their late 20's to moving back into their parents home and searching for work still in their late 20's today.
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Really, unfortunately I fall right in the last year considered a baby boomer. I grew up in a nuclear family. I wasn't coddled at all. Being on the tail end I didn't see the drugs you speak of however we had a good time. The prosperity of the 80's wans't as prosperous as you think. Mortgage rates were still over 10%, no such thing as first buyers anything. In the prosperous 90's I watched one of the largest employers in S. FL close their doors, went to work for another company only to have it close its doors. The "infamous surplus" that wasn't kept the tax man at bay though.

So here we are in the 2000's. All those parents that I grew up with that choose to basically do nothing out of high school are now raising their own kids and guess what. More do nothing kids. The issue is when I went, the do nothing crowd was around 40%. Their offspring has swelled that to about 75% now. A bunch of little whiners that think the world owes them something because they work at McD's and "unforunately" got pregnant, twice.

The result is the BS you and many others spout......we crapped in our sandbox and have to blame it on someone. Might as well be mom and dad or grandmom and granddad because they always wanted us to study and wouldn't let us smoke dope and party. They should just die off.

News flash dumbass, when we retire over a period of about 10 years, you guys are screwed. Not only will we take the toys with us, we will take the sandbox, the fort, the land the box is on, and the f'ing street out front. You keep thinking of all the money that will be going out? Better be worried about where the $$ in are going to come from. By and large your generation makes up the 47% and I don't see one thing happening but incessant crying about the BB generation.
 
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#68
#68
hog88 said:
Thanks for the vote of confidence but don't have the cash flow to gamble on high dollar real estate. Maybe in a few more years.
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We are the same. We busted ass and put a graduate level engineer through school and an architect. Even with employment in E TN being sketchy at times, they have no debt. We are enjoying working for ourselves for a change..... At least half the year for ourselves.
 
#69
#69
McDad said:
Of course I did. Because if I'm building my primary residence with an intention to sell in 2 years, I am going to do my research and pick the strongest market I can. AND pick an area where I want to live even if it doesn't sell.
Also, you assume I would have a mortgage. I would recommend paying for construction free and clear. No mortgage once completed. Beginning with a starter home and doing this process a few times one can have a home with no mortgage.
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No, I wasn't assuming you had a mortgage. I'm sure you are probably one of the few that were able to flip sucessfully and dodge the housing bubble. What I am assuming is that your potential buyers will be needing a mortgage. That is where the jumbo loan comment came from.

Timing is everything. For someone to start out right now and jump into the upscale house flipping trade is just risky right now.
 
#70
#70
1972 Grad said:
I don't know who votes them in. Most people of all ages are stupid, and they seem to get dumber and fatter every year.
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In my circle of acquaintances, the are about 50 that I know how they vote. 2 of them voted BHO. I'm convinced our current issues are the young stupid voter that thinks they are informed but all they know is MSNBC, what is taught them at school, and all the social BS they pass around and claim to educate each other. I find the most uneducated voters are the ones that claim to know everything by the age of 25 or 26. Dink is the only one that I know on this forum that can make that claim and make it stick. The rest are just looking for someone to blame.
 
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#73
#73
82_VOL_83 said:
Really, unfortunately I fall right in the last year considered a baby boomer. I grew up in a nuclear family. I wasn't coddled at all. Being on the tail end I didn't see the drugs you speak of however we had a good time. The prosperity of the 80's wans't as prosperous as you think. Mortgage rates were still over 10%, no such thing as first buyers anything. In the prosperous 90's I watched one of the largest employers in S. FL close their doors, went to work for another company only to have it close its doors. The "infamous surplus" that wasn't kept the tax man at bay though.

So here we are in the 2000's. All those parents that I grew up with that choose to basically do nothing out of high school are now raising their own kids and guess what. More do nothing kids. The issue is when I went, the do nothing crowd was around 40%. Their offspring has swelled that to about 75% now. A bunch of little whiners that think the world owes them something because they work at McD's and "unforunately" got pregnant, twice.

The result is the BS you and many others spout......we crapped in our sandbox and have to blame it on someone. Might as well be mom and dad or grandmom and granddad because they always wanted us to study and wouldn't let us smoke dope and party. They should just die off.

News flash dumbass, when we retire over a period of about 10 years, you guys are screwed. Not only will we take the toys with us, we will take the sandbox, the fort, the land the box is on, and the f'ing street out front. You keep thinking of all the money that will be going out? Better be worried about where the $$ in are going to come from. By and large your generation makes up the 47% and I don't see one thing happening but incessant crying about the BB generation.
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1) Saw a similar thing happen to a few factories in my area as well. It was cheaper to send the jobs overseas. Still a big issue that needs to be addressed if we ever want to be a solid Country again. Business owners still hold the power here. It has nothing to do with "staying a float" because the "tax man" came a running. It's about increasing your profits and not investing in the future of this country and it's work force.

2) So.... Romney set the bar at 47% and it's already increased to 75% of the country are whiners? Because that's what I'm getting from this and it's a garbage stat you pulled out of your ass.

3)Complete Bull ****e! Stop acting like you and your generation built this country and are the only ones holding it together. We were a country before you were born and we sure as hell will be a country after you retire.
 
#74
#74
I'll stop complaining when you pay back the $17T you owe. Clearly 18% wasn't enough for your spending habits.
 
#75
#75
And Baby Boomers are absolutely responsible for every politician for the last 30 years. So don't blame it on politicians.
 
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