Steven M. Scharf said:whinds said:In article <[email hidden]>, Bill Baka <[email hidden]>
Quoted message said:I see a lot of drugged out types in my area that
don't have a clue, but then again I am living in California in
a low rent town. By choice since I hate the big city these days.
Born in Chicago, raised in and around it, moved to Silicon Valley
and had too much of people in the lunch room bragging about how
much their homes' equity has gone up/down.
Excuse me Bill but lowrent and Silicon Valley is an oxymoron. Where is
this
lowrent town? I had a friend work up there and paid something over $100
a week
to sleep under someone's dining room table. Of course this was the
booming 90's
so things may have changed by now.
You misunderstand, he left Silicon Valley. And the booming 90's are
over, we now have a Republican president. Rents are low, and palm trees
grow (at least at In 'N Out).
That is one to figure out. Bush brags about the economy but the last time
it was good we had Clinton. The Reagan/Bush#1 years were kind of slow too.
Quoted message said:
Whenever someone at work brags about the paper profit on his or her
property, I ask them to show me the money. I tell people that I live in
a $60,000 house in Silicon Valley, and they are shocked until I explain
that that's what it should be worth, not what I paid for it or what I
could sell it for.
Sounds about right. The thing that drove me up the wall is that all the
braggers were Chinese. That was most of the engineering dept.
The manager was white, like me, and all the other engineers were Chinese.
When we had meetings, the Chinese guys would start arguing in Chinese, and
the manager and I would just look at each other and shake our heads. After
a few minutes he would start glaring at them and then they would all sit
down again and go back to English. They always made up some lame excuse
for why they all stood up and shouted at each other in Chinese. Part of
the weird work world in the Valley.
Quoted message said:
One guy at work, a good guy (hard core bicyclist, chromolly frame),
actually did figure a way to get his megabuck equity out of his house in
Palo Alto. He commutes from Eugene Oregon and rents his Palo Alto house
out, and rents a small apartment in Sunnyvale (where rents have plunged
even as prices have skyrocketed). He's selling his house in Palo Alto
for $1.2 million and buying five or six properties in Oregon on a 1031
exchange.
Something I should have thought of but I never thought the real estate
would go nuts like it has. My 1963, $13,000 house is now at about $600K,
the 4 plex rental is over $1 million, and the other two I could have had
are both at about $800,000. I saw a garden variety 3 bedroom, 2 bath, in
Sunnyvale advertised for $1.2 million. What's up with that? Insanity.
I may not have made a killing in the real estate market but at least I
don't have to spend 45 minutes of my lunch hour waiting in line or
traffic to go to a fast food place. I think that area has more restaurants
per person than anywhere else I have ever been. If I had stayed there I
may have keeled over from the stress and lack of riding, so here I am.
More or less broke but happier than being down there. Healthier too.
--
Bill (?) Ba__ka