It's amazing to me how often older generations admit they've ruined the future for us while also having a Pikachu face on about it. "Paul Vinson bought two homes in Morro Bay, both averaging around $600,000, when he moved here 15 years ago. 'Our house is appraised for over $1.2 million, or $1.3 million and some of these houses here, it's unbelievable,' Vinson said."
And I'd bet dollars to donuts that he rents out the other property for market rent, which is probably twice that of his mortgage... If he even has a mortgage. I hate these clueless boomers!
How the fuck is that clueless? Seems to me they were/are very clued in in wise financial decisions.
Sucks that housing prices are so high, but you're hating the player instead of the game.
Humans like things that are fair. Even monkeys know what fairness is. An experiment was done with monkeys in isolation, when 1 monkey was given a cucumber and a grape they would eat both happily. When two monkeys were together and one monkey got the grape while the other got the cucumber, the one with the cucumber would get visibly upset and angry. It isn't fair that the generation after the boomers gets fucked and has to deal with tons of stupid decisions by said boomers and watch these boomers benefit with old money while the younger generations don't have any of the same opportunities. I had an old boss that built his multi million dollar business in the 80s with 200 dollars in his pocket, he told me now-adays that would be completely impossible and that was BEFORE covid. Don't get me started on covid and how that ruined any chances of me owning a home. To think I was in the market in 2019... Now the same homes are twice the price and twice the apr. Luckily I'm in sales so it just requires me to work twice as hard as I already do.
Ah yes, the wise financial decisions of having enough money to buy two houses a couple years before the market bottomed out. Not quite as wise as getting money from parents, but still up there.
The players contribute to the rules of the game. If everyone fucks each other over, it's harder for most people to get ahead. So, when a player is seen doing exactly that, it's not like everyone should throw up their hands and declare the problem unsolvable.
Why does Paul need a second home? Couldn't he work a regular job like the rest of us so there's homes for people who were born and raised here? Sounds like socialism to expect other people to pay for your house
Maybe Paul bought that home 20+ years ago, when the market wasn't bonkers? Now it affords him a decent retirement? Who fucking knows? Paul did not create the housing crunch, our government did, blame them. Do you speak at local planning meetings? Send letters to those in charge of building permits etc?
It's bizarre that you feel Paul should sell his second home to make life easier for someone else.
I get it, shit is CRAZY here. I'm beyond thankful that we were able to buy in 04. I'm guessing my kids will never be able to afford a home here. It's sad. But it really isn't Paul's fault. If you're going to shit on someone, shit on all the poly parents that buy houses for their kids and them keep them forever, I'm aware of multiple people in slo that own at least a half dozen homes and make a killing renting to students for top $. I'm sure there are tons of these folks. There's your devil (locally speaking).
To me the #1 issue is these big corporations buying tons of homes and renting them out. That's bullshit and needs to be illegal. Not sure if much of that is happening locally, but on a national level, it's not good.
Paul didn't need the second home to begin with, if this was a timeshare or lakehouse it would make sense but why did he need *two* homes in the same town? That makes no sense
> Paul did not create the housing crunch, the government did, blame them
> If you're going to shit on someone, shit on all the *poly* parents that buy houses for their kids and them keep them forever
First off, such a boomer thing to tell me who to be mad at then point the finger at others
Second, for a second there it sounded like you said SLO county had a bigger polyamorous population than I thought haha. I see nothing wrong with people buying a house to live in, I have an issue with people buying multiple homes in the same area and making profit off of people who could have just bought the house themselves. Sure, the government sucks but doing that is actively making the problem worse
"It's bizarre that you feel Paul should sell his second home to make life easier for someone else." I would never expect a boomer to do anything to make anyone's lives easier except themselves. That's what we are bemoaning. And he's clueless not because of his financial choices -- it's him acting as if his purchase of multiple homes has no contributing factor to the lack of housing for everyone else. It's just a complete lack of self awareness.
You should bemoan capitalism then—I hate to tell you this but people buy shit they don’t need every god damn day. Telling individuals how much stuff they are allowed to own has, historically, not gone well.
That said, I’m completely in favor of banning corporations from buying single family homes in SLO.
You don't seem to understand -- trying to distract with "corporations" doesn't make this less bad.
People buying extra shit in a shortage Have. Most people cannot, and Have Not. For most people, the hoarding is the problem, not the degree. The ownership class is small.
There is zero wrong with buying a property and renting it out. It is a risk he chose to take. If housing prices had dropped over the last 20 years and rents flat lined the dude would be screwed.
This idea that people who own and rent or property are evil is misplaced anger. The problem is bad local and state policies, not guys like this dude.
The SLO Democrat party machine owns all the city and county officials. They maintain a zero growth policy to ensure homeowning Boomers can extract as much wealth out of (student) renters they can. Screw every single one of them. I hope the assisted living facilities drain all their wealth
I don't know a thing about local Republicans, but reducing hindrances to development, using incentives rather than punitive means to push policy goals, and enacting business- and development-friendly policies are all more R than D.
The way to lower prices is to increase inventory. Republican (and Democrat) builders and developers want to build and develop. Let them.
Whoa, calm down. Did I say one good thing about Republicans? That's whole problem, your knee-jerk reaction and assumption. One little critique and boom, Putin, Trump, etc.
> Sucks that housing prices are so high, but you're hating the player instead of the game
They should go play the Bitcoin game instead and leave housing to people who want to own their primary residence.
That dude didn't ruin it for you. Poor planning, shortsited property tax policy, and lack of new housing has caused the current problem.
Blaming someone who bought 15+ years ago who had nothing to do with these policies doesn't help.
Sure he didn't explicitly ruin it himself. But hoarding housing is certainly a large contributing factor and for him to not reflect on that at all is a perfect encapsulation of older folks lack of empathy.
According to the multiple listing service, the average home price in all of SLO county for residence is $992,481 for May with 12 days on market. This excludes commercial and vacant land sales.
There's no truly ethical consumption in capitalism - this isn't an argument to not spend or make money - but a reminder to try to limit harm as much as possible
In other words, we have to survive the system we're given. We live in this world world right now, and we don't live in another. So don't waste your finite energy feeling guilty about surviving and living. Simply act and choose as best you can to limit the harm done by our actions
So what does that mean? Maybe it's to keep your money in a community bank not a giant mega-multi-national bank.
Perhaps you invest your money in government bonds that go towards public works that benefit the community.
If you want better returns, pick companies like Perimeter Solutions (PRM) that their business is in creating firefighting foams and products for public safety, or manufacturing companies that build trucks that are used in public service, like Allied Specialty Vehicles (REVG).
There's plenty of corporations whose purpose is to create things that benefit the public - but for example you could choose OshKosh because they build vehicles for the military, fire and police departments, but then you're directly investing in a company who creates products used by the US Military. So you have to *choose*.
Ultimately ethically spending money in our capitalist society requires making informed decisions and choices knowing that it's possible that you will never know all the details. You simply do the best you can. That's all any of us can do as individuals. You can do it!
But no, there's no true master list, you just have to figure it out. It's a hassle, and it's meant to be...
All good points. My comment was made in reaction to the people jumping on the guy in the story as if he were a villain because he had the audacity to purchase a second home as an investment 15 years ago. As if they wouldn't have done or wouldn't do the same if they had the opportunity to do so.
It will be interesting to see what happens. 2019 wasn’t that long ago and homes in north county were 50% less then.
Higher interest rates have always worked to correct housing, this delay is reaction is something to watch though.
A surprising tidbit I learned recently is that interest rates and home price inflation aren’t necessarily linked. Housing prices actually went up substantially in the late 1970s and early 1980s even though mortgage rates went as high as 18%.
[https://www.huduser.gov/periodicals/ushmc/winter2001/histdat08.htm](https://www.huduser.gov/periodicals/ushmc/winter2001/histdat08.htm)
[https://www.mcsweeneys.net/articles/we-love-the-character-of-this-neighborhood-so-we-bought-a-house-tore-it-down-and-built-a-mansion-resembling-a-la-quinta-inn](https://www.mcsweeneys.net/articles/we-love-the-character-of-this-neighborhood-so-we-bought-a-house-tore-it-down-and-built-a-mansion-resembling-a-la-quinta-inn)
It's amazing to me how often older generations admit they've ruined the future for us while also having a Pikachu face on about it. "Paul Vinson bought two homes in Morro Bay, both averaging around $600,000, when he moved here 15 years ago. 'Our house is appraised for over $1.2 million, or $1.3 million and some of these houses here, it's unbelievable,' Vinson said."
And I'd bet dollars to donuts that he rents out the other property for market rent, which is probably twice that of his mortgage... If he even has a mortgage. I hate these clueless boomers!
How the fuck is that clueless? Seems to me they were/are very clued in in wise financial decisions. Sucks that housing prices are so high, but you're hating the player instead of the game.
Cognitive dissonance in it's purest form
Can't play the game anymore. The government and greed has made the entry fee to the game almost impossible for working class Americans.
I can't disagree with that. But someone owning a single investment property isn't the problem.
Humans like things that are fair. Even monkeys know what fairness is. An experiment was done with monkeys in isolation, when 1 monkey was given a cucumber and a grape they would eat both happily. When two monkeys were together and one monkey got the grape while the other got the cucumber, the one with the cucumber would get visibly upset and angry. It isn't fair that the generation after the boomers gets fucked and has to deal with tons of stupid decisions by said boomers and watch these boomers benefit with old money while the younger generations don't have any of the same opportunities. I had an old boss that built his multi million dollar business in the 80s with 200 dollars in his pocket, he told me now-adays that would be completely impossible and that was BEFORE covid. Don't get me started on covid and how that ruined any chances of me owning a home. To think I was in the market in 2019... Now the same homes are twice the price and twice the apr. Luckily I'm in sales so it just requires me to work twice as hard as I already do.
I hate both!
I think he was being sarcastic
Ah yes, the wise financial decisions of having enough money to buy two houses a couple years before the market bottomed out. Not quite as wise as getting money from parents, but still up there. The players contribute to the rules of the game. If everyone fucks each other over, it's harder for most people to get ahead. So, when a player is seen doing exactly that, it's not like everyone should throw up their hands and declare the problem unsolvable.
Why does Paul need a second home? Couldn't he work a regular job like the rest of us so there's homes for people who were born and raised here? Sounds like socialism to expect other people to pay for your house
Nope it’s just plain ol’ capitalism working as designed!
I’m curious what would replace capitalism in your opinion?
Why would I want to replace capitalism, the greatest economic system the world has ever known???
I'm just curious so what would you replace it with?
Maybe Paul bought that home 20+ years ago, when the market wasn't bonkers? Now it affords him a decent retirement? Who fucking knows? Paul did not create the housing crunch, our government did, blame them. Do you speak at local planning meetings? Send letters to those in charge of building permits etc? It's bizarre that you feel Paul should sell his second home to make life easier for someone else. I get it, shit is CRAZY here. I'm beyond thankful that we were able to buy in 04. I'm guessing my kids will never be able to afford a home here. It's sad. But it really isn't Paul's fault. If you're going to shit on someone, shit on all the poly parents that buy houses for their kids and them keep them forever, I'm aware of multiple people in slo that own at least a half dozen homes and make a killing renting to students for top $. I'm sure there are tons of these folks. There's your devil (locally speaking). To me the #1 issue is these big corporations buying tons of homes and renting them out. That's bullshit and needs to be illegal. Not sure if much of that is happening locally, but on a national level, it's not good.
Paul didn't need the second home to begin with, if this was a timeshare or lakehouse it would make sense but why did he need *two* homes in the same town? That makes no sense > Paul did not create the housing crunch, the government did, blame them > If you're going to shit on someone, shit on all the *poly* parents that buy houses for their kids and them keep them forever First off, such a boomer thing to tell me who to be mad at then point the finger at others Second, for a second there it sounded like you said SLO county had a bigger polyamorous population than I thought haha. I see nothing wrong with people buying a house to live in, I have an issue with people buying multiple homes in the same area and making profit off of people who could have just bought the house themselves. Sure, the government sucks but doing that is actively making the problem worse
"It's bizarre that you feel Paul should sell his second home to make life easier for someone else." I would never expect a boomer to do anything to make anyone's lives easier except themselves. That's what we are bemoaning. And he's clueless not because of his financial choices -- it's him acting as if his purchase of multiple homes has no contributing factor to the lack of housing for everyone else. It's just a complete lack of self awareness.
You should bemoan capitalism then—I hate to tell you this but people buy shit they don’t need every god damn day. Telling individuals how much stuff they are allowed to own has, historically, not gone well. That said, I’m completely in favor of banning corporations from buying single family homes in SLO.
I do bemoan capitalism
You don't seem to understand -- trying to distract with "corporations" doesn't make this less bad. People buying extra shit in a shortage Have. Most people cannot, and Have Not. For most people, the hoarding is the problem, not the degree. The ownership class is small.
There is zero wrong with buying a property and renting it out. It is a risk he chose to take. If housing prices had dropped over the last 20 years and rents flat lined the dude would be screwed. This idea that people who own and rent or property are evil is misplaced anger. The problem is bad local and state policies, not guys like this dude.
Parasite landlords should pull themselves up by their bootstraps and get a real job.
The SLO Democrat party machine owns all the city and county officials. They maintain a zero growth policy to ensure homeowning Boomers can extract as much wealth out of (student) renters they can. Screw every single one of them. I hope the assisted living facilities drain all their wealth
If you think Republicans give a single damn about students or renters, I'd love to hear some ideas.
I don't know a thing about local Republicans, but reducing hindrances to development, using incentives rather than punitive means to push policy goals, and enacting business- and development-friendly policies are all more R than D. The way to lower prices is to increase inventory. Republican (and Democrat) builders and developers want to build and develop. Let them.
Whoa, calm down. Did I say one good thing about Republicans? That's whole problem, your knee-jerk reaction and assumption. One little critique and boom, Putin, Trump, etc.
> Sucks that housing prices are so high, but you're hating the player instead of the game They should go play the Bitcoin game instead and leave housing to people who want to own their primary residence.
This is the same tool who came to the defense of the guy who posted about looking to exploit cal poly students with expensive rent. Go figure.
“Gosh won’t anyone think of the children?” ***blocks new dense housing projects***
That dude didn't ruin it for you. Poor planning, shortsited property tax policy, and lack of new housing has caused the current problem. Blaming someone who bought 15+ years ago who had nothing to do with these policies doesn't help.
Sure he didn't explicitly ruin it himself. But hoarding housing is certainly a large contributing factor and for him to not reflect on that at all is a perfect encapsulation of older folks lack of empathy.
According to the multiple listing service, the average home price in all of SLO county for residence is $992,481 for May with 12 days on market. This excludes commercial and vacant land sales.
That matches slo county actually according to the MLS
Is there a list of approved ways that people can use their money to make some additional income that doesn't "screw someone over"?
Replace "screw people over" with "exploit the disadvantaged" and you'll be on your way to figuring it out
So pretty much anything that makes a profit is no bueno then?
Profit as in skimming value off the top of others labor well that's no bueno.
In your immediate community? Index funds.
Still require companies invested in to show a profit, potentially screwing people over
There's no truly ethical consumption in capitalism - this isn't an argument to not spend or make money - but a reminder to try to limit harm as much as possible In other words, we have to survive the system we're given. We live in this world world right now, and we don't live in another. So don't waste your finite energy feeling guilty about surviving and living. Simply act and choose as best you can to limit the harm done by our actions So what does that mean? Maybe it's to keep your money in a community bank not a giant mega-multi-national bank. Perhaps you invest your money in government bonds that go towards public works that benefit the community. If you want better returns, pick companies like Perimeter Solutions (PRM) that their business is in creating firefighting foams and products for public safety, or manufacturing companies that build trucks that are used in public service, like Allied Specialty Vehicles (REVG). There's plenty of corporations whose purpose is to create things that benefit the public - but for example you could choose OshKosh because they build vehicles for the military, fire and police departments, but then you're directly investing in a company who creates products used by the US Military. So you have to *choose*. Ultimately ethically spending money in our capitalist society requires making informed decisions and choices knowing that it's possible that you will never know all the details. You simply do the best you can. That's all any of us can do as individuals. You can do it! But no, there's no true master list, you just have to figure it out. It's a hassle, and it's meant to be...
It's so tough. I'm trying to live and purchase more intentionally and it's a lot of work to stay informed and to limit harm.
All good points. My comment was made in reaction to the people jumping on the guy in the story as if he were a villain because he had the audacity to purchase a second home as an investment 15 years ago. As if they wouldn't have done or wouldn't do the same if they had the opportunity to do so.
It will be interesting to see what happens. 2019 wasn’t that long ago and homes in north county were 50% less then. Higher interest rates have always worked to correct housing, this delay is reaction is something to watch though.
A surprising tidbit I learned recently is that interest rates and home price inflation aren’t necessarily linked. Housing prices actually went up substantially in the late 1970s and early 1980s even though mortgage rates went as high as 18%. [https://www.huduser.gov/periodicals/ushmc/winter2001/histdat08.htm](https://www.huduser.gov/periodicals/ushmc/winter2001/histdat08.htm)
Now it’s 1,150,000 for a fixer upper on e foothill 😫
You can still buy a home that’s way under that price. I just sold my home to a young couple in slo county and it was def not priced at 900k.