Anyone who's been on the internet within the last 24 hours most likely saw the banners asking for support to petition against SOPA and PIPA. SOPA and PIPA are two pieces of legislation that would restrict content on the internet and shut down websites that infringe on copyrights. Similar to what happened to Napster in 2001.
Viacom, Dow Chemical, CBS Corporation and Major League Baseball are a few of the companies that support the bills. Whereas Google, Microsoft, Yahoo, and Petzel are a sample of some of companies that oppose the bills.
I do not know whether these bills will pass or be re-written into another bill that will one day pass, but the fact that Google and a few other web sites collected enough public response in ONE DAY to force congress to halt the bills' progress is ASTOUNDING.
Think of what this could mean to our way of Government. Think what this could mean to our way of life as Americans. It is a very exciting time to be alive!
Friday, January 20, 2012
Wednesday, January 4, 2012
S&P/Case-Schiller...rounding out numbers for big statements
"According to David Blitzer, chairman of Standard and Poor's index committee, current home prices are back to 2001 levels when adjusted for inflation." - Housingwire.com 1/3/12
http://www.housingviews.com/2011/12/31/home-prices-corrected-for-inflation-at-2001-levels/real-house-prices/
Upon reading this and suddenly believing I could go buy my neighbor's house for two thirds of its value - I thought it might be best to take a look and see some REAL (local - not Detroit or Las Vegas) numbers:
1. 1070 Grant Place, 80302 sold in June of 2000 for $355,000 and is currently listed for sale at $599,000.
2. 345 S. 38th St, 80305 sold in August of 2000 for $332,000 and is currently listed for sale at $414,975.
3. 2343 Kalmia, 80304 sold in December of 1999 for $485,000 and is currently listed for sale at $734,900
Now - these homes are located in different neighborhoods within the City of Boulder and have shown an average increase of 48.33% since the 12 month period ended August 2000. Inflation has averaged 2.48% over that time period according to inflationdata.com. Taking into account the inflation variable and assuming the sellers get 90% of their list price, we are still looking at increases greater than 30%. Also, remodels or additions could be a factor for larger increases in value. But since the Case-Schiller does not take that into account, neither will we.
I would like to thank David Blitzer for proving once again, that real estate investing comes down to three things: location, location and location. Forecasting and investing models can always be skewed and shown to be inaccurate. Always do your leg work and due diligence before investing.
Happy 2012!
http://www.housingviews.com/2011/12/31/home-prices-corrected-for-inflation-at-2001-levels/real-house-prices/
Upon reading this and suddenly believing I could go buy my neighbor's house for two thirds of its value - I thought it might be best to take a look and see some REAL (local - not Detroit or Las Vegas) numbers:
1. 1070 Grant Place, 80302 sold in June of 2000 for $355,000 and is currently listed for sale at $599,000.
2. 345 S. 38th St, 80305 sold in August of 2000 for $332,000 and is currently listed for sale at $414,975.
3. 2343 Kalmia, 80304 sold in December of 1999 for $485,000 and is currently listed for sale at $734,900
Now - these homes are located in different neighborhoods within the City of Boulder and have shown an average increase of 48.33% since the 12 month period ended August 2000. Inflation has averaged 2.48% over that time period according to inflationdata.com. Taking into account the inflation variable and assuming the sellers get 90% of their list price, we are still looking at increases greater than 30%. Also, remodels or additions could be a factor for larger increases in value. But since the Case-Schiller does not take that into account, neither will we.
I would like to thank David Blitzer for proving once again, that real estate investing comes down to three things: location, location and location. Forecasting and investing models can always be skewed and shown to be inaccurate. Always do your leg work and due diligence before investing.
Happy 2012!
Subscribe to:
Posts (Atom)