Real Estate Crash thread

[Harry]

I told my girls we would pay for college and help with the house purchase, but not a fancy ass wedding for them and a practice husband. We all have priorities. And you guys with youngsters, start saving your money.

Buddy in Missoula did a HELOC and paid $235,000 for his 22 y/o step-daughters destination wedding in Maui. Marriage lasted 6 months. He was a truck driver for WalMart.


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[4matic]

who knew all the retired teachers and cops and firefighters, living off their pensions, were baller rich millionaires!

In California many to most public retirement pensions are pretty fat.

[skaredshtles]

Buddy in Missoula did a HELOC and paid $235,000 for his 22 y/o step-daughters destination wedding in Maui. Marriage lasted 6 months. He was a truck driver for WalMart.

[AdironRider]

There is a reason pensions hardly exist anymore, and it isn't because they are worth peanuts.

Man that HELOC wedding story is brutal though.

[old_newguy]

To be honest, if I found out I worked in the same office as glade I’d be more than a little worried I would need to put my “Run, Hide, Fight” training to use.

[mfcf13]

I'll stand by those statements until the day I die. Better to be a cunt with a true-bearing ethical compass than whatever it is that the detestable "people" (and I use that term loosely, most of you are subhuman in my mind) who populate this place call themselves.

Except your supremacist germaphobia leads you to detest Hispanic folks in Glenwood (their vaccination rate does not match with your standards). And any other group that doesn't meet your standards. How is that a 'true bearing ethical compass'? sounds more like you're just a guy with a judgy ethos. You will be unhappy anywhere you move. You could move to the most uptight Germanic, sanitized region of Switzerland and you'd still just whine about "the damn Gypsy's".

U R a Fucking Bunny Jr.

[zion zig zag]

I'll stand by those statements until the day I die. Better to be a cunt with a true-bearing ethical compass than whatever it is that the detestable "people" (and I use that term loosely, most of you are subhuman in my mind) who populate this place call themselves.

^^^Arguing over whether or not glade is rich is a waste of time. Why don't you guys try to decide if he's a run of the mill narcissist or a full-blown sociopath?

[sirbumpsalot]

who knew all the retired teachers and cops and firefighters, living off their pensions, were baller rich millionaires!

I know of one collecting $100K checks every month from a CA pension living in a 6000 sqft oceanview pad in SoCal worth a cool $3-3.5M who just sent off a check for a $500,000 pool build in their backyard. But I know....they are not rich because the house doesn't count since they will never sell it and having a million in cash laying around ain't what it used to be.

[fastfred]

B

Fred-I'm about two hours of dealing with the man then it's party like a rich kid time. I'm going to burn one down, hop on my sweet ass carbon bike and get a ride from the house, then I'm going to ride downtown to the pub and buy some pints for charity, then load the van up to get out of town for the weekend. Not sure where that puts me but it's well into the top 50%ers. Because it seems you're either rich or poor these days.

We need to hang out I feel like we are living a parallel life the only depressive difference is I just unpacked my van after a nice week long trip now I'm back at the dog race

[Dantheman]

I know of one collecting $100K checks every month from a CA pension living in a 6000 sqft oceanview pad in SoCal worth a cool $3-3.5M who just sent off a check for a $500,000 pool build in their backyard. But I know....they are not rich because the house doesn't count since they will never sell it and having a million in cash laying around ain't what it used to be.

That sounds...atypical.

[AdironRider]

The average pension in CA for a fire fighter is 108k per year.

For you or me, that would be the equivalent of having 2.7 million in a retirement plan and living by the 4% rule, and ours wouldn't be guaranteed with a COLA.

[fastfred]

Too much bickering in this thread for this to go unnoticed.

Thanks for the laugh, FF.

Four days into a raft trip and it was still money

People w real money dont show it

[californiagrown]

The average pension in CA for a fire fighter is 108k per year.

For you or me, that would be the equivalent of of having 2.7 million in a retirement plan and living by the 4% rule, and ours wouldn't be guaranteed with a COLA.

My bad i didnt realize we were going to only consider exceptions.

http://www.pensionrights.org/publica...ncome-pensions

[AdironRider]

That isn't the exception, that is the average pension for a CA fire fighter straight from Calpers.

[Dantheman]

The average pension in CA for a fire fighter is 108k per year.

For you or me, that would be the equivalent of having 2.7 million in a retirement plan and living by the 4% rule, and ours wouldn't be guaranteed with a COLA.

He said this guy was collecting $100k/month.

[californiagrown]

That isn't the exception, that is the average pension for a CA fire fighter straight from Calpers.

Cherry picking a subset of a subset that is objectively an outlier compared to the whole dataset is pretty much the definition of looking at an exception.

[Core Shot]

Since we're all so distracted, I think getting in a bidding war for a $135 million dollar ranch counts as rich.

Fuck. Dude.

It’s 80,000 acres!

That’s worth 2,000 mules!

[AdironRider]

Cherry picking a subset of a subset that is objectively an outlier compared to the whole dataset is pretty much the definition of looking at an exception.

Average CA pension for a teacher is almost 80k. Thats a 2 million value.

Average support govt person pension in CA, 68k, thats a 1.7 million value.

That is a couple hundred thousand people. Not exact statistical outliers.

Nevermind you made the example, and are now trying to use median numbers, which include plenty of people who don't make shit on their pensions because they only worked 5 years and barely vested. That wasn't the example you started with, but are now moving goal posts. But lets go ahead and use the federal median number of 38k. Guess what that is worth? Oh right a million fucking dollars.

You don't get it both ways. Again, there is a reason pensions hardly exist for anyone but govt employees these days, and its because they are high value instruments that are fucking expensive.

So damn right I stand by my statement that a 65 year old retiree, with a pension and million dollars saved, is a multi millionaire, and that puts them squarely in the top 6% or so of the population in terms of net worth by the way.

[californiagrown]

Average CA pension for a teacher is almost 80k. Thats a 2 million value.
lets go ahead and use the federal median number of 38k. Guess what that is worth? Oh right a million fucking dollars.

You don't get it both ways. Again, there is a reason pensions hardly exist for anyone but govt employees, and its because they are high value instruments that are fucking expensive.

Yep, i guess you are arguing that someone recieving $38k in SS and pension during retirement, with no other assets to their name is a top 10%er. I can't argue with stupid, so im out.

[schuss]

Fuck. Dude.

It’s 80,000 acres!

That’s worth 2,000 mules!

I mean, it's hard to bring racism into this discussion, but somehow you did it.

[AdironRider]

Yep, i guess you are arguing that someone recieving $38k in SS and pension during retirement, with no other assets to their name is a top 10%er. I can't argue with stupid, so im out.

The example was a pension, social security, and million dollars, and that person gifting their kid 100k. That is a top 10% person and you know it. But move the goalposts....

More than half of this country is going to retire with maybe 20k a year in social security and zero savings. Half. If they retire at all. But keep on keeping on that the above example is just some average guy.

[Conundrum]

Yep, i guess you are arguing that someone recieving $38k in SS and pension during retirement, with no other assets to their name is a top 10%er. I can't argue with stupid, so im out.

When I was bitching about property taxes and home equity earlier in the thread, I was told those people were millionaires because they have assets on paper even though they bought cheap many years ago and never had a high monthly income. My argument was they either had to give up their primary residence or reverse mortgage to get a monthly living stipend so it shouldn't count and there were many different opinions there. Knowing that you'll be paid a fixed amount per month for the rest of your life seems similar to me.

I'm over the property tax thing by the way. County assessor said expect a 25% increase this year so I've given up. Write the check and smile while I can and such.

[AdironRider]

If its any consolation, pretty sure Idaho just upped the homestead exemption 25% and put in some caps in terms of what counties can raise in terms of overall dollars, so while your valuation might increase, the levy rate will probably decrease.

[The Suit]

I got snipped about a decade ago, so can I skip the sterilization?

[Conundrum]

I got snipped about a decade ago, so can I skip the sterilization?

Only with a time machine.