Comments on: $1.295 million for a majestic 4br/3ba http://www.burbed.com/2008/01/28/1295-million-for-a-majestic-4br3ba/ San Francisco Bay Area, Silicon Valley House Price and Mortgage Insanity Blog Wed, 08 Feb 2012 21:46:46 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: burbed http://www.burbed.com/2008/01/28/1295-million-for-a-majestic-4br3ba/#comment-3857 burbed Wed, 06 Feb 2008 19:31:16 +0000 http://www.burbed.com/2008/01/28/1295-million-for-a-majestic-4br3ba/#comment-3857 But the fact that you can even buy a house that looks like that, with that much property, is amazing. You can't get stuff like that in the Bay Area, in gun/stabbing riddled neighborhoods. But the fact that you can even buy a house that looks like that, with that much property, is amazing. You can’t get stuff like that in the Bay Area, in gun/stabbing riddled neighborhoods.

]]> By: Henry http://www.burbed.com/2008/01/28/1295-million-for-a-majestic-4br3ba/#comment-3856 Henry Wed, 06 Feb 2008 19:12:56 +0000 http://www.burbed.com/2008/01/28/1295-million-for-a-majestic-4br3ba/#comment-3856 You picked the most unrepresentative house that Greenwich has to offer for those dollars. Its in a lousy neighborhood, the property is falling down. Median house prices in Greenwich this year approach $2.67 million, with most new houses coming on line in excess of 15,000 SF You picked the most unrepresentative house that Greenwich has to offer for those dollars. Its in a lousy neighborhood, the property is falling down.

Median house prices in Greenwich this year approach $2.67 million, with most new houses coming on line in excess of 15,000 SF

]]> By: The ultimate $1.3 million Cupertino house [Burbed.com] http://www.burbed.com/2008/01/28/1295-million-for-a-majestic-4br3ba/#comment-3855 The ultimate $1.3 million Cupertino house [Burbed.com] Fri, 01 Feb 2008 13:59:33 +0000 http://www.burbed.com/2008/01/28/1295-million-for-a-majestic-4br3ba/#comment-3855 [...] Monday, we showed you what a $1.295 million dollar house looks like in Greenwich, CT where the income regularly tops $500k. Let’s look a house in that [...] [...] Monday, we showed you what a $1.295 million dollar house looks like in Greenwich, CT where the income regularly tops $500k. Let’s look a house in that [...]

]]> By: $1.25 million house in Redwood City - with revenue opportunities [Burbed.com] http://www.burbed.com/2008/01/28/1295-million-for-a-majestic-4br3ba/#comment-3854 $1.25 million house in Redwood City - with revenue opportunities [Burbed.com] Thu, 31 Jan 2008 13:39:28 +0000 http://www.burbed.com/2008/01/28/1295-million-for-a-majestic-4br3ba/#comment-3854 [...] Monday, we showed you what a $1.295 million dollar house looks like in Greenwich, CT where the income regularly tops $500k. Let’s look a house in that [...] [...] Monday, we showed you what a $1.295 million dollar house looks like in Greenwich, CT where the income regularly tops $500k. Let’s look a house in that [...]

]]> By: LloydChiro http://www.burbed.com/2008/01/28/1295-million-for-a-majestic-4br3ba/#comment-3853 LloydChiro Wed, 30 Jan 2008 01:27:19 +0000 http://www.burbed.com/2008/01/28/1295-million-for-a-majestic-4br3ba/#comment-3853 Check out house #10. Zip: 94957 Ross, California Price: $3.295 million Beds: 4 Baths: 3.5 Ross is definitely in the Real Bay Area! Beverly Hills is too (#8). Check out house #10.
Zip: 94957
Ross, California
Price: $3.295 million

Beds: 4
Baths: 3.5

Ross is definitely in the Real Bay Area! Beverly Hills is too (#8).

]]> By: $1.25 million house in Campbell [Burbed.com] http://www.burbed.com/2008/01/28/1295-million-for-a-majestic-4br3ba/#comment-3852 $1.25 million house in Campbell [Burbed.com] Tue, 29 Jan 2008 13:19:18 +0000 http://www.burbed.com/2008/01/28/1295-million-for-a-majestic-4br3ba/#comment-3852 [...] Monday, we showed you what a $1.295 million dollar house looks like in Greenwich, CT where the income regularly tops $500k. Let’s look a house in that [...] [...] Monday, we showed you what a $1.295 million dollar house looks like in Greenwich, CT where the income regularly tops $500k. Let’s look a house in that [...]

]]> By: ex-sunnyvale-renter http://www.burbed.com/2008/01/28/1295-million-for-a-majestic-4br3ba/#comment-3851 ex-sunnyvale-renter Mon, 28 Jan 2008 22:07:25 +0000 http://www.burbed.com/2008/01/28/1295-million-for-a-majestic-4br3ba/#comment-3851 2.5 times eh? And I've said, a house in the BA should cost 3X income so with an income of $50k, that means $150k. I can understand the actual rich wanting to keep it below 2.5X though because it makes sense, and because at their income it will still buy a decent place. The old middle class in the US had been through the Depression, and knew two things: Don't stay in debt, and Don't trust banks. So they'd try to keep their "note" as small as they could get away with, then do their best to pay it down, and this generally while saving a good 10% or so for savings, for the next Crash, you know. Too bad, the next Crash has arrived, but it's arrived too late, these people are retired or in nursing homes, and this one's going to blindside us just as the last one blindsided the "Lost Generation" of the 1920s. 2.5 times eh? And I’ve said, a house in the BA should cost 3X income so with an income of $50k, that means $150k.

I can understand the actual rich wanting to keep it below 2.5X though because it makes sense, and because at their income it will still buy a decent place.

The old middle class in the US had been through the Depression, and knew two things: Don’t stay in debt, and Don’t trust banks. So they’d try to keep their “note” as small as they could get away with, then do their best to pay it down, and this generally while saving a good 10% or so for savings, for the next Crash, you know.

Too bad, the next Crash has arrived, but it’s arrived too late, these people are retired or in nursing homes, and this one’s going to blindside us just as the last one blindsided the “Lost Generation” of the 1920s.

]]> By: New Zealand Renter http://www.burbed.com/2008/01/28/1295-million-for-a-majestic-4br3ba/#comment-3850 New Zealand Renter Mon, 28 Jan 2008 19:54:17 +0000 http://www.burbed.com/2008/01/28/1295-million-for-a-majestic-4br3ba/#comment-3850 Notice that actual rich people who know about money and have skin in the game won't pay more than 2.5 times income for shelter. They understand the difference between one's primary residence (a liability) and actual income earning investments. Back when the US had a real middle class, middle class people also understood this. Notice that actual rich people who know about money and have skin in the game won’t pay more than 2.5 times income for shelter. They understand the difference between one’s primary residence (a liability) and actual income earning investments. Back when the US had a real middle class, middle class people also understood this.

]]> By: ex-sunnyvale-renter http://www.burbed.com/2008/01/28/1295-million-for-a-majestic-4br3ba/#comment-3849 ex-sunnyvale-renter Mon, 28 Jan 2008 17:45:54 +0000 http://www.burbed.com/2008/01/28/1295-million-for-a-majestic-4br3ba/#comment-3849 What a bunch of pikers. Out in the BA, people manage to overspend that much and the median income is 1/10th that much. Don't they know Real Estate Always Goes Up(tm)? What a bunch of pikers. Out in the BA, people manage to overspend that much and the median income is 1/10th that much. Don’t they know Real Estate Always Goes Up(tm)?

]]> By: DensityDuck http://www.burbed.com/2008/01/28/1295-million-for-a-majestic-4br3ba/#comment-3848 DensityDuck Mon, 28 Jan 2008 16:08:40 +0000 http://www.burbed.com/2008/01/28/1295-million-for-a-majestic-4br3ba/#comment-3848 Also, Greenwich is on the East Coast, which means that Chinese executives would have to fly another six hours to visit their investment property. Also, Greenwich is on the East Coast, which means that Chinese executives would have to fly another six hours to visit their investment property.

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