The Glut Cometh

[tacticalturnip]

Another member from your state posted how much his taxes were a while back. I almost messed my pants the shock was so great! I believe that it was about half the appraised value of my property.
I hope that you get something in return.

I'm under the impression that their ROI is worse than ours, lol.

 

[ultrarunner]

One saving grace is California Voters have to approve new taxes and Assessor can only adjust upward of 2% annually.

That said those that bought at the peak might bail like before and property tax is a factor as reductions can take years to process and then only temporary.

I can see someone with 3200 square feet 25 year old home on a sloped lot paying 25k property tax if bought in the last 18 months...

 

[Dftodd]

My rule of thumb has been that house prices should reflect 3x the neighborhood median gross annual income, but that was from the days when a 7% or 7.5% mortgage was the norm. Higher incomes can exceed that because other expenses don't increase rapidly as your income rises.

The sensible thing has always been to buy what you can afford and pay for it. We have been mortgage-free for 14 years, and that has gone a long way toward a comfortable retirement.

We run on the 1 income policy when figuring out our price point for a mortgage. This way if something happens and one of us can't work, then we aren't homeless or hungry.

It helps that my wife and I are both cheap, and don't mind handling improvements ourselves.

 

[Hay Dude]

We run on the 1 income policy when figuring out our price point for a mortgage. This way if something happens and one of us can't work, then we aren't homeless or hungry.

It helps that my wife and I are both cheap, and don't mind handling improvements ourselves.

Right?!?!
It works. Thats one of the most significant ways I built my wealth. I have lived in 3 homes since I got married 25 years ago. I saw each one’s potential bought at low price points and added additions, fancy kitchens, garages, etc them by myself. Then sold for 50-100% more after 5-10 years on market upswings. Gave me money for vacations, college, vehicles and other money draining ventures……like farming lol

 

[Dftodd]

Right?!?!
It works. Thats one of the most significant ways I built my wealth. I have lived in 3 homes since I got married 25 years ago. I saw each one’s potential bought at low price points and added additions, fancy kitchens, garages, etc them by myself. Then sold for 50-100% more after 5-10 years on market upswings. Gave me money for vacations, college, vehicles and other money draining ventures……like farming lol

We've just started poking around for another house. Looked at one the other day that had serious potential on 3 acres.

Garage needed to be finished, missing over head doors, and the front face (brick veneer) had a large Crack that needed to be addressed.

Main house needed repainting, new roof, new AC, flooring, and a bathroom ceiling replaced.

The big issue was the place being sold as is and was a rental. Last tenant left in a hurry after thrashing the place. So there were quite a few of the former tenants belongings in the home.

Was poking through a closet and found a memorial flag (military) and a large ornate urn

I looked up and asked the realtor what we were supposed to do with "Uncle Bob and his flag"?????

We passed on the home. Between figuring out what to do with uncle Bob, and the outer wall of the garage being tight to the property line, it was more headache then what I was looking for.

 

[jigs_n_fixtures]

School taxes would be fine, if they did what the original intent was ... educate an "employable" workforce. Today, public schools teach kids everything except what it takes to be employable, consequently, funding needs to be cut until they get back to training an employable workforce.

The purpose of the educational system was originally to educate the future voters, that they could be an informed and discerning electorate.

Think about it: What vocational education does a worker need to be farm laborer? Which was the primary occupation in America, until after the civil war. Most skilled trades were trained through apprenticeships.

And in most states the remnants of that are reflected by the requirement that you complete 8th grade before you can drop out of school.

 

[Larry Caldwell]

The purpose of the educational system was originally to educate the future voters, that they could be an informed and discerning electorate.

Think about it: What vocational education does a worker need to be farm laborer? Which was the primary occupation in America, until after the civil war. Most skilled trades were trained through apprenticeships.

And in most states the remnants of that are reflected by the requirement that you complete 8th grade before you can drop out of school.

That was the purpose of primary education. The 3 Rs. Secondary education was always intended to be vocational.

Ag was Vocational Agriculture, that taught wood working, mechanical skills, crop selection, water and erosion systems, etc. That morphed into shop classes, but many high school students were certified welders, or ready to enter plumbing or electrical apprenticeships.

Home Economics was intended to teach cooking, nutrition, housekeeping, child care, budgeting, and other domestic skills. That may seem trivial, but we have a generation that does not know how to cook. I saw an interview in 2008 with a woman leaving a food bank who said, "Thank god there are no dried beans. I must have 50 lbs. of dried beans at home and don't know what to do with them."

The business department at my high school was well known. I learned typing and business law, basically contracts and torts. Kids who concentrated in that area learned double entry bookkeeping, payroll, tax planning, and probably a bunch of stuff I didn't know about.

Physical Education was designed to get the couch potatoes moving once a day, but also to prep young men for military service. If you got an A in PE you could sail through basic training. That went hand in glove with social studies. You could not graduate without passing a year of Civics.

College prep courses were not directly vocational, but I graduated with a year of college level physics, chemistry, trigonometry, calculus, the logical discipline of Euclidean geometry, two years of a foreign language, and the ability to write lab reports, technical papers, and short stories.

Grade inflation had not become a thing, The average GPA was 2.5 and a perfect 4.0 was achieved by perhaps one in 50. A perfect score on the SATs was unheard of. The reason businesses require a degree is that high school has become little more than advanced child care.

 

[jigs_n_fixtures]

That was the purpose of primary education. The 3 Rs. Secondary education was always intended to be vocational.

Ag was Vocational Agriculture, that taught wood working, mechanical skills, crop selection, water and erosion systems, etc. That morphed into shop classes, but many high school students were certified welders, or ready to enter plumbing or electrical apprenticeships.

Home Economics was intended to teach cooking, nutrition, housekeeping, child care, budgeting, and other domestic skills. That may seem trivial, but we have a generation that does not know how to cook. I saw an interview in 2008 with a woman leaving a food bank who said, "Thank god there are no dried beans. I must have 50 lbs. of dried beans at home and don't know what to do with them."

The business department at my high school was well known. I learned typing and business law, basically contracts and torts. Kids who concentrated in that area learned double entry bookkeeping, payroll, tax planning, and probably a bunch of stuff I didn't know about.

Physical Education was designed to get the couch potatoes moving once a day, but also to prep young men for military service. If you got an A in PE you could sail through basic training. That went hand in glove with social studies. You could not graduate without passing a year of Civics.

College prep courses were not directly vocational, but I graduated with a year of college level physics, chemistry, trigonometry, calculus, the logical discipline of Euclidean geometry, two years of a foreign language, and the ability to write lab reports, technical papers, and short stories.

Grade inflation had not become a thing, The average GPA was 2.5 and a perfect 4.0 was achieved by perhaps one in 50. A perfect score on the SATs was unheard of. The reason businesses require a degree is that high school has become little more than advanced child care.

You are confusing what it became, and not talking about the original purpose.

That the republic requires an informed and discerning electorate that it might thrive. In some form all of the founding fathers voiced that sentiment. (Jefferson in about 7 different ways)

To get that informed electorate the society developed public education. The three “R”s, but there was a focus on US history, and Civics/Social Studies.

Depending on the State, students were required to complete somewhere between 4 and 8-years of education, with states further west tending to require more. This is probably because the technology and education needed to use it increased over time, and States further west knew they needed more education.

And, most of the problems of our society today, is that a very small percentage of the electorate knows enough to make any kind of a an informed decision.

 

[Jstpssng]

And, most of the problems of our society today, is that a very small percentage of the electorate knows enough to make any kind of a an informed decision

This more than anything else- except enough basic economics to at least run a home. I’ve always believed that these are things which should be taught in the home… I also occasionally go out tilting windmills.
Yet when the average family runs their finances like the federal government does, I am starting to believe there must be a better way.

 

[Oaktree]

We have to fire up a generator to shower, but can get a bath pretty easily by heating a 12 gallon laundry tub of water on top of the wood stove, then tempering it with cold water in the tub. I don't mind running a generator for a couple hours a day for electrical stuff, but hate generator noise with a passion. One of the delights of living here is the silence. The only sounds are the wind in the trees, the water in the creek, and the assorted chirps, hoots, and grunts of the local wildlife. A generator wrecks that.

I would have to fire up the generator for hot water once what's in the tank got depleted. A couple years ago I replaced the old HW heater (with pilot and atmospheric vent) with a power-vent unit at the "strong suggestion" of the gas company (my vent is horizontal thru the side of the house, and didn't create enough draft to legally operate).
Agree with you on the silence...absolutely love it! There are days when other than the occasional passing vehicle the only sounds are those of nature. Can't put a price on that!! Funny, I have some "city" friends who find that much quiet disconcerting.