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Economy & Finance / Re: INFLATION IS OUR FRIEND
« Last post by fatduck on Yesterday at 06:37:08 PM »
another way to look at the current inflation is that prices of goods have been suppressed by JIT supply chain efficiency that (as we are seeing now) is not robust to shocks like COVID
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Owner's Issues / Re: Laminate Flooring Installation Cost?
« Last post by Compressed-Village on Yesterday at 04:57:15 PM »
I got a good deal at Costco for some nice looking laminate flooring + integrated pad. I was wondering if anyone had an idea what it might cost for me to get it installed? I could probably remove the carpet and the tack strips myself. Two downstairs rooms, about 500 sqft total.

I bet you can install this with some help. If you already willing to remove the carpet and strips yourself, the installation is not that difficult. This guy is Canadian, and not only he is good, he is very clear and precise in his methods.

You can do it.

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Owner's Issues / Re: Laminate Flooring Installation Cost?
« Last post by USCTrojanCPA on Yesterday at 04:26:54 PM »
I got a good deal at Costco for some nice looking laminate flooring + integrated pad. I was wondering if anyone had an idea what it might cost for me to get it installed? I could probably remove the carpet and the tack strips myself. Two downstairs rooms, about 500 sqft total.

My guess would be $3-4/sf.
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If the Fed and Congress were actually serious about affordable housing (spoiler alert... they are not.) both entities would work quickly to revise the tax system make it unsustainable for Hedgies to buy up everything they can. They could start by hypertax large LLC SFR owners rental income which compels through financial methods the eventual liquidation by mass unit owners of their housing stock. Yes, overall prices would drop a bit in some areas. Are hedgies buying Irvine properties to lease long term?Don't know, but would really love to see the stats. Certainly other SoCal Counties would experience price drops given how many homes are in the portfolios of hedge funds.

Ask yourself this: would you rather see 1/2 the block you live on as Blackstone owned rental properties, or owner occupied homes for 1st and 2nd time buyers?  Which pathway is better for the long term benefit of society? Concentrated ownership or mass ownership? 

I can ask my title rep to run a report to see all Irvine homes purchased by LLCs and Corps in the past 2 years.  I'm sure I'll see Redfin, Zillow, Offerpad, and Opendoor but it'd be curious if I see other corporate entities.
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I don't think the case for higher rate will lower real estate price. How high is too high in rate for the real estate to crash should be the question?

Right now, even Owning is sitting at 3.125 for 30 years, and we know Owning only do primary and stellars credits. If the yield control were not in place then rate historic standards should be 6ish or low 7, right? Then the sky would fall. The key here IMHO is that the FED flood the liquidities into the systems. From Hedge Funds to shadow banking has ample of ammunitions and buy. What will that do to price of assets? It at least stablize. We all saw it. No suprise there.

I agree with you that higher interests won't have a big effect on real estate prices unless they go significantly up.  However, there are a lot of potential buyers who think and hope that even a moderate interest rate increase will cause prices to decline (which it won't).  I think worst case prices will be flattish but from what I see today prices are heading higher.

Some members on here including you, who are correct in saying don't time the market, buy when you can afford it.

The huge problem now is for first time buyers, with the competition from corporate funds, hedge funds and bidding war result in having them priced out. For buyers that already own and trade up, they will have the appreciation of equities in the run up to trade up. Not fair, but that's where we are, unless we have a Paul Volcker style as the next FED chair person. For owners a few will be upgrading because of low locked in fix rate to change up. For young buyers its a bitter pills to swallow. Many will sit out. Hence the stagnate market will soon follow. I think you built a solid reputation not only here but also in real life, so your business stream will continue. For many other realtors, competing is fierce with Zillow, Redfin and even Opendoor platforms taking a huge bite out of their bread.

Thank you for the kind words.  My goal in helping my buyers to purchase is a home is to get them a home that will appreciate into the future at the best deal possible price because as I tell them...."the better that you do, the better I do later" (aka their home will appreciate better and will be able to sell it at a higher price later and move up to a bigger home).  I've told many clients who were ready to buy new bad 3-level properties (mostly new through a builder which would have been easy work for me) but I steered them into 2-level properties.  It's good for future business to help my clients buy the good homes.  And when my buyers ask me if it's a good time to buy, I tell them 2 things...1) If you plan on giving in the home for 3-5+ years you will not lose a dime even if you buy at today's prices AND 2) If I am actively looking to buy a more expensive home that means that means that I believe prices will continue upward in the intermediate/longer term.
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Yes, the NIMBY crowd is very strong especially in nicer areas.
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Owner's Issues / Laminate Flooring Installation Cost?
« Last post by shadax on Yesterday at 03:23:06 PM »
I got a good deal at Costco for some nice looking laminate flooring + integrated pad. I was wondering if anyone had an idea what it might cost for me to get it installed? I could probably remove the carpet and the tack strips myself. Two downstairs rooms, about 500 sqft total.
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The only way to make housing more affordable is to increase supply.  You do that by encouraging development and density and discouraging holding of vacant/undeveloped property.

So, reduce zoning restrictions and tax land value.

Not really Fed/Congress policies. It has to happen at the state and local level.

Right, you are correct that it has to happen at the state and local level.

Then you have these Not In My Backyard folks. Too much traffics residents throw up their hands and signs with too much building and polutions.

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The only way to make housing more affordable is to increase supply.  You do that by encouraging development and density and discouraging holding of vacant/undeveloped property.

So, reduce zoning restrictions and tax land value.

Not really Fed/Congress policies. It has to happen at the state and local level.
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That proposal exempts rental properties and is intended to reduce vacancy rate. In a really ham handed way imo. Just tax the value of the land and holding vacant or undeveloped property will be disincentivized.
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