The 4-Bedroom American 4-Square in Old Irving Park: 3725 N. Lowell
This vintage 4-bedroom American 4-Square at 3725 N. Lowell in Old Irving Park had originally been on the market in 2009 and early 2010 before recently returning to try again.
Since April 2009, the house has been reduced $100,000.
Built in 1906, it has some of its original features including leaded glass, woodwork and columns.
The eat-in kitchen has granite counter tops and white appliances.
The listing says there is a new master bath with a jet tub.
All 4 bedrooms are on the second floor and there is a family room in the finished basement.
The house is on an oversized 37×144 lot and has a 2-car garage and central air.
Listed $130,000 over the 2000 purchase price, has there been appreciation in the Old Irving Park single family home market in the last decade?
Mario Greco at Prudential Rubloff has the listing. See the pictures here.
3725 N. Lowell: 4 bedrooms, 2 baths, no square footage listed, 2 car garage
- Sold in March 1992 for $185,000
- Sold in June 2000 for $369,000
- Originally listed in April 2009 for $599,000
- Reduced
- Withdrawn in April 2010 at $549,000
- Re-listed in April 2011 for $499,000
- Taxes of $6424
- Central Air
- Bedroom #1: 12×12 (second floor)
- Bedroom #2: 14×13 (second floor)
- Bedroom #3: 12×9 (second floor)
- Bedroom #4: 9×9 (second floor)
- Family room: 22×21 (lower level)
seems like it should move at that price fairly quickly given the lot size etc and move in ready condition.
only issue i guess would be if that house next door is abadoned or what? hopefully it is someone donig an active reno and not something that has sat looking like that for 2 years after someone went bust
Another day, another half a million dollar property.
That being said, this is a nice home. The only school option is st viator; disney 2 is just too difficult to get in (40 open slots for 800 apps or smething like that). The main floor opened layout is a little weird; but nothing that cannot be overlooked. Lowell is a nice block, a little hike from the el but still nice. I like this house. I would buy it but again, it’s that ‘every SFH must cost $500,000’ thing that happens; that being said, there isn’t much competition at this price range in the area (other than the patterson house) so this should in the 400’s in a few months after a price reduction or two.
HD – At what price would you buy this house?
yeah but HD come on this is a very nice house, not some crapshack on a 25×125 lot with a kitchen updated since 1982 that you love to wax poetic about
i would say that it is fairly priced especially if you can get it down in the 450k range
HD: is this “too close” to the high school?
HD – do you mean in the 300s (it’s already listed at 499)? Cannot imagine this falling below 400, although I don’t follow OIP that closely
I think 450k definitely moves it. I think it will sell at 475-480k though only due to lack of supply of this quality.
I almost feel dumb for justifying the crazy appreciation since 2000 but it’s true Chicago housing stock is largely dilapidated garbage so when something nice like this comes on the market it tends to do well.
399k is where I think homes like these (most of the hood) will eventually be priced in a few years. So 20 % lower. This home will set a new low comp for the hood. Congrats to MG for at least attempting to price this reasonably. There just aren’t very many of these going up for sale right now.
Put half a dozen of these up for sale at the same time (instead of just one or two) and see what happens to the price. Nobody wants to sell for less than 500. There’s a similar house on patterson up for 550, listed the same day.
“399k is where I think homes like these (most of the hood) will eventually be priced in a few years.”
I agree with you on this. I wonder, though, where interest rates will be at that point.
HD, at what point though do you accept that supply/demand is out of whack for YOUR particular situation versus other people’s? Just because you can’t or wouldn’t pay X, doesn’t mean there aren’t other people who would or as you say, put themselves in debt to be in a certain area.
While Chicago is in fact a big metro area, the reality is that housing in neighborhoods with certain amenities and schools is fairly limited thus driving pricing up in those neighborhoods. This isn’t to say that OIP or other neighborhoods weren’t bubbly, but I guess I would like to know what you believe this house should be priced at given the proximity to downtown? There is significant demand for decent housing relatively close to major employment areas. OIP seems well positioned to take advantage of that demographic shift as many people shun the outer suburbs. I would think pricing reflects that shift.
If this was purchased at $500k when we were at 4.25% on 30-year fixed loans, the PI would have been $1,967.76 with 80% LTV. If this is purchased several years from now at $400k and rates are 6.25% on 30-year fixed loans, the PI will be $1,970.30 with 80% LTV.
“I almost feel dumb for justifying the crazy appreciation since 2000”
At least one of the bathrooms is new since then, so it’s not naked appreciation.
That said, only one shower/tub would be a nonstarter for me.
“If this was purchased at $500k when we were at 4.25% on 30-year fixed loans, the PI would have been $1,967.76 with 80% LTV. If this is purchased several years from now at $400k and rates are 6.25% on 30-year fixed loans, the PI will be $1,970.30 with 80% LTV.”
But it was **proven** that interests rates don’t correlate with house prices. *Proven*!! By an economist!! Take that, Chris!
Chris M: I don’t think interest rates will be all that much higher, but that’s just me. Regardless, the PI is the same.
Russ: me vs other people? How about buyers in general! This selling below 500 will be a great comp for the way down!!! Its just the first of many to come. Hell there’s a house on that block for 400 and it doesn’t even have interior pics!
Hell a house with no garage similar to this sold a few days ago for 480 on kostner this house is much nicer than that house. MG can get his clients to price to sell.
I say this will sell at 450 on the way down, once price reduction to 485 and an accepted offer in the 450k – 460k range. Similar homes might be in the low 400’s by this time next year! This is great news!
“Similar homes might be in the low 400’s by this time next year!”
Talking your book, HD. Try to be a little more subtle.
This conversation brings to mind a more general question. Basically, most sellers fall into two camps. Those who have to sell at a certain price in order to walk away without owing anything or bringing money to the table, and those who have more wiggle room.
I realize not everyone is savvy and well versed in how the RE market works but surely once that latter group makes the decision to sell, they either do some research or someone has to tell them that its not 2003 anymore and that they aren’t gonna get their price simply because banks aren’t making those kinds of loans and people don’t have that kind of pocket change to make up any differences in appraisals.
Are the realtors that are taking these jobs figuring that maybe they’ll get lucky? Can any of the realtors who read here post their thoughts on this?
“Similar homes might be in the low 400’s by this time next year! This is great news!”
This doesn’t really impact Chicagoland as we’re at the 417k conforming loan limit but a _bunch_ of bubbly areas are about to have their GSE conforming jumbo loan limits slashed drastically :
http://www.leaderscorpfinancial.com/blog/mortgage-loans-rates/fhfa-little-impact-seen-in-gse-loan-limit-change
Imagine owning a 700k house you’re trying to sell in Monterey County, CA…I’d bet sweating about now.
I don’t think the realtors care enough. They need to listen more to the potential buyers out there and try to market to them better. Often, it’s all about the sellers, and appeasing their egos. The good realtors listen to potential buyers’ and price and act accordingly. That is how they drive their # of transactions up, and also their commissions for the year.
This is not a 4 BR / 2 BA. If you look at the listing it says its a 4 BR with 1 Full and 2 Half baths.
This one should sell for around $450. The $499 price tag is a good starting point. My concerns would be the proximity to the high school, lack of a good public elementary school, and lack of a second full bath. How much would it cost to expand it to 2 full baths assuming you could rework the space?
The elementary is belding which is so-so. I’ve heard from some parnets its decent. the one shower is a pita. But that’s these old 1900’s homes, hard to reconfigure for todays amenities.
Anon- I may be out of oip by this time next year.
How much is tuition at St Viator? That needs to be factored into the potential budget for new residents in the area if public is a so-so school.
“Anon- I may be out of oip by this time next year.”
I would wager you will be, and it will take a 12 YoY tanking of OIP–without the neg externalities such a tanking normally causes–to get you to stay.
“This is not a 4 BR / 2 BA. If you look at the listing it says its a 4 BR with 1 Full and 2 Half baths.”
1 + .5 + .5 = 2ba. 😀
Iirc viator is 6000ish. Disney is the school to get into, if you’re lucky enough. Half of all slots in the K class are reserved for siblings. Its insane. Regardless the area is still filled with little kids. Sellers just need to remember who they’re trying to sell to.
“Anon- I may be out of oip by this time next year.”
“I would wager you will be, and it will take a 12 YoY tanking of OIP–without the neg externalities such a tanking normally causes–to get you to stay.”
Wait. Where’s HD going? Suburbs?
“the one shower is a pita. But that’s these old 1900’s homes, hard to reconfigure for todays amenities. ”
This one wouldn’t be so much *hard* as *expensive*, as well done plumbing of that nature ain’t cheap.
“Wait. Where’s HD going? Suburbs?”
No idea, but if nice, but still “compromise”*, houses like this are still $450k+, no way he buys in OIP.
*that is, not close enough to the freeway… i kid. the bath thing is a downer, as is the not really finished basement.
Look people, if I said I was staying in oip it wouldn’t take much other than a simple redfin search and a PIN to out me. So I try to throw y’all off track. However I do follow edgebrook, wildwood, sag, forest glen, park ridge and edison park. I may end up in any one of those areas on 2 months to 3 years depending on a variety of factors.
“Imagine owning a 700k house you’re trying to sell in Monterey County, CA…I’d bet sweating about now.”
Enh. Monterey is a mixed bag always.
What I hadn’t realized is that the *national* max is dropping back to $625k from $729k, so even Manhattan and Es Eff are getting a 15% drop in their conforming limit–which, btw, is where I see the mortgage interest deduction being capped in the near(-ish) future.
Is Norwood Park north of the highway included in there too? Not much comes up for sale in that area, but there are bigger lots.
“No idea, but if nice, but still “compromise”*, houses like this are still $450k+, no way he buys in OIP.”
That leaves you with (cue groove) Oriole/Norwood/etc. (which doesn’t really appeal to HD) or burbs if you want a decent SFH w/good schools for under say $350K, no?
“that is, not close enough to the freeway… i kid”
It is a hike to the blue line though (if metra doesn’t work).
I hate when they mention schools that you have no guarantee of a spot at (or often even a chance) in listings. It’s very misleading.
That said, I like this for the condition, location and size. I wouldn’t take it because of the school, but as we know not everyone is in need of a good neighborhood school.
Compromise homes will be in the 300’s. Nicer compromises in the 400’s. We are in the middle of a double dip, this is one of the first new realities.
Many buyers are looking for schools in this neighborhood. Private schools are just part of city living for many buyers with kids. What sucks is re taxes AND private schools. Ergh.
“I hate when they mention schools that you have no guarantee of a spot at (or often even a chance) in listings. It’s very misleading. ”
Especially given the vast majority of those purchasing real estate are older than K12 and that minors are forbidden from entering into contracts such as mortgages.
” Just because you can’t or wouldn’t pay X, doesn’t mean there aren’t other people who would or as you say, put themselves in debt to be in a certain area.”
Exactly…. I’m not trying to gang up on HD or anything but I think he voices many people’s opinions which are not the reality of the situation. I’m sorry that you don’t make enough money to feel comfortable to buy a 500k house. Not everyone does… BUT that doesn’t mean the 500k houses are going to come down in value. It just means that your choices are limited to:
1. house in the burbs (and you can get pretty nice houses for 300-400k in most suburbs)
2. smallish condo in a nice area
3. crappy house in an area that you may not want to live
4. rental
There aren’t any other choices. The day you realize this, you will become a grown up (seriously – many people in the suburbs would have loved to live in a house in the city but couldn’t afford it – they made the compromise for the sake of their family instead of living in a fool’s paradise thinking that the prices are going to fall any minute now..).
Clio yes it does. How else do you explain the double dip?
HD – what double dip are you talking about? That is complete fiction and based on numbers that are an inaccurate portrayal of what the true housing inventory is out there. Again, I am not trying to discount what you are saying just to prove my opinion – I am trying to sort out the truth/reality so that others aren’t misled by comments made on this site. How terrible would you feel if some poor soul actually listened to your and G’s nonsense and waited 3 years only to find out that he has been outpriced of areas he previously could have bought. That would be worse than what you say American invesco did (at least their owners have a condo in a nice area in which they can live)
I have 11-year old and 7-year old boys, and I’m very glad my wife and haven’t had to share a bath/shower with them all these years. Sharing is certainly doable, but not ideal. For families with kids, I’d advise finding a house with two full bathrooms.
“So I try to throw y’all off track. ”
I hope you realize that, whatever else, I wouldn’t say if I knew.
I agree with clio. Internet prognostication aside, if you haven’t taken advantage of the recent 20-40% drop in prices to be able to afford something you wouldn’t have been able to afford 5 years ago, you shouldn’t expect that prices are coming down another 20 – 40% or more to allow you to purchase something in the next five years. It’s not realistic. Real estate is not priced to make you happy – it’s priced at the amount which makes the number of sellers and the number of buyers equal.
“Look people, if I said I was staying in oip it wouldn’t take much other than a simple redfin search and a PIN to out me. So I try to throw y’all off track. However I do follow edgebrook, wildwood, sag, forest glen, park ridge and edison park. I may end up in any one of those areas on 2 months to 3 years depending on a variety of factors.”
So you’re staying, and eventually buying, in OIP in other words. (Aren’t most of the other areas out of your price range? You need better areas of fake interest.)
My price range based on 28/36 dti is over 600,000 with a large Downpayment but just because I can afford it doesn’t mean I should buy it. I got two working JD’s in my household. I’ve also got debt, bills and childcare, and the desire not to squander away every dollar I earn.
Prices will fall another 20pc. We are gonna set a new CS chicago index low in 2 weeks time. And its all downhill from there. Lord only knows where the bottom is.
Where are Forest Glen and Edgebrook? I sorta thought they were the same or one was within the other, like Sheridan Park is within Uptown. Are they adjacent?
“My price range based on 28/36 dti is over 600,000 with a large Downpayment but just because I can afford it doesn’t mean I should buy it.”
I really wasn’t trying to be condescending about price range, just taking the stated (and likely true based on confirming circumstantial evidence) price range that you are looking at. What you can “afford” is mostly irrelevant to this inquiry if you are looking to spend much less.
You can always get one of those land trust thingys I hear so much about.
forest glen is roughly elston/cicero and edgebrook is peterson/central
$400,000 is still a large chunk of change; it took the bubble and low interest rates to distort the fact the $400,000 used to buy a lot of house. $400,000 homes and less are what are the majority of the foreclosures.
“Where are Forest Glen and Edgebrook? I sorta thought they were the same or one was within the other, like Sheridan Park is within Uptown. Are they adjacent?”
Forest Glen is one of the official community areas. I think it’s also a neighborhood within the community area.
“$400,000 used to buy a lot of house”
And a dime used to buy a lot of candy. And a Ferrari used to cost $12k.
Still, one “should” be able to buy a *new* 2000+ SF house for about $400k in a decent but not “prime” area, based on what it cost to build a house.
A dime bought a lot of candy – in 1950. $400,000 bought a lot of house … in 1999.
“#anon (tfo) on April 11th, 2011 at 3:15 pm
“$400,000 used to buy a lot of house”
And a dime used to buy a lot of candy. And a Ferrari used to cost $12k.
Still, one “should” be able to buy a *new* 2000+ SF house for about $400k in a decent but not “prime” area, based on what it cost to build a house.”
“park ridge”
Where is Park Ridge??
“You can always get one of those land trust thingys I hear so much about.”
HD I am sure has done one or two of them. The problem with ILTs is not the legal structuring, it is the idiot lenders not knowing how to paper them.
“Prices will fall another 20pc. We are gonna set a new CS chicago index low in 2 weeks time”
There you go again with your stupid CSi numbers. You keep saying that it is going down (and it is) but you see that it doesn’t translate into lower housing prices (or low enough for you). If you can’t figure this out, then you are a complete and total moron. This has been going on long enough and we have to stop feeding your delusional ideas. Wake up and embrace the reality of the situation. Again the CSI does not AT ALL depict an accurate picture of what is going on in the majority of areas that people on this site (and in general) are interested in buying. Seriously, you cannot be that stupid
“$400,000 bought a lot of house … in 1999.”
Not in San Francisco. Secretaries were millionaires back then.
“Again the CSI does not AT ALL depict an accurate picture of what is going on in the majority of areas that people on this site (and in general) are interested in buying. Seriously, you cannot be that stupid”
Case Schiller high tier SA:
2010 11 118.73
2010 12 118.53
2011 1 118.43
Vs.
2009 3 121.00
Yeah fresh lows but not really a meaningful difference compared to almost 2 years ago.
Sure, home prices are falling @ 75th and Vincennes (low tier)… But the vast majority of homes discussed here have been relatively flat.
“Prices will fall another 20pc.”
No
“We are gonna set a new CS chicago index low in 2 weeks time.”
Yes
“And its all downhill from there.”
No
“Lord only knows where the bottom is.”
No
“Again the CSI does not AT ALL depict an accurate picture of what is going on in the majority of areas that people on this site (and in general) are interested in buying. Seriously, you cannot be that stupid”
Yes but you’re assuming people on this site won’t substitute at all. Maybe not anonny or miumiu but if you were to show me a 400k palatial-like estate in a nice burb in a good school district vs. some McCrapbox in the city and yes, I could be turned.
Yea city living has its advantages but it also has it’s drawbacks, too. And I’m not as hard line on the urban thing when things get too out of wack and there’s plenty like me.
Things are getting out of whack where you can get a nice 4/3.5 in a burb like Naperville that’s under 15 years old for 350k yet these that crapshack in Bucktown was listed for 500k. City real estate looks laughable by comparison when you look at the burbs.
““$400,000 bought a lot of house … in 1999.””
It pretty much bought this house, but with the one full bath (most likely) a dated mess. And, in real $$ terms, 400 in 99 = 531 now.
“Things are getting out of whack where you can get a nice 4/3.5 in a burb like Naperville that’s under 15 years old for 350k”
6 current listings (yeah, age is frequently unlisted, so it excludes tons) and 2 of them are asking more than the last sale in 03/04.
“City real estate looks laughable by comparison when you look at the burbs.”
Agreed. We have zero crime in our town other than CFOs getting busted for DUIs. Yet for $2M more, you could have a similar quality home in East Lincoln Park (with zero yard), and where you are likely to get robbed / broken into in 10 years.
The issue with $5 gal gas is the city is going to start looking more and more attractive.
At price point for this OIP house with mid-range renovation, a buyer w/children could buy in Oak Park, Riverside, or another Metra and/or El-served “leafy” inner-ring suburb, and take advantage of excellent public schools. The commutes are probably identical, but community amenities in these suburbs exceed OIP’s offerings. Riverside is true “sleeper”, a great leafy suburb with beautiful streets, high-quality housing stock, excellent K-8 schools, and respectable RSBFHS, named by US News as national “best HS” contender.
If future tuition burden is factored in, even River Forest and Wilmette now have some houses which are comp contenders.
I’m wondering about long-term neighborhood stability and relative desirability of Chicago’s NW-side residential neighborhoods, despite some gentrification in past years, by dual-income professional households. Plus, supply outstrips market for $500,000+ homes. There is a sizable blue-collar ethnic NW-side population to contrast with Green Zone life-style expectations. Area lacks retail amenities found in near-suburbs and Green Zone neighborhoods (except for a Marshalls?), in addition to school dilemma.
Regardless if prices are going down or not, rates are low right now (and were lower months ago). If you’re buying for the very long-term, which I suspect HD is, then you should be more concerned with monthly payment than the price (unless you are paying cash). At the end of 30 years it doesn’t make a difference if you paid more at a low rate or if you paid less at a high rate. And to assume rates aren’t going to be higher down the road is a huge assumption.
“At price point for this OIP house with mid-range renovation, a buyer w/children could buy in Oak Park, Riverside, or another Metra and/or El-served “leafy” inner-ring suburb, and take advantage of excellent public schools.”
That’s exactly what I was thinking when I saw this. There are plenty of similar Four Squares available in those communities for much less.
“then you should be more concerned with monthly payment than the price ”
If you believe RE valuations are largely determined by payments then it’s still more advantageous from a tax standpoint, for someone like HD to get the property at a lower price but pay a higher interest rate, than pay a higher price and get a lower interest rate.
By the way, my opinion is this house has some layout issues which are hard to solve for less than 6 figure sums. Never underestimate a good layout — I think more than finishes it can sell a home. No master bath is an absolute killer as is any bedroom with a wall less than 10 feet. There is a lot of lipstick in the pictures that people may respond to, but when you walk through it, it becomes really obvious.
My guess is there is no overhead plumbing system for the basement. So few homes that weren’t built in the last decade or so have really well designed basements with overhead plumbing, ejectors, sumps, drain tile systems, ventilation, etc. Even the recent ones have challenges.
I think you will be hard pressed to find a house this nicely renovated in Oak Park for $499k or less. Maybe on one of the streets right near Austin Blvd or far south closer to Roosevelt or right on 290. Not sure about the other areas.
“At the end of 30 years it doesn’t make a difference if you paid more at a low rate or if you paid less at a high rate”
I think it might depend on the exact numbers but it sounds like you’re saying the PI comes out to roughly the same over 30 years?
What percentage of buyers do you think have $100K+ liquid sitting around? I would guess 10-15% at most.
How many houses are for sale that would require this type of DP either in the GZ or a good suburb with excellent schools, assuming you are going with conventional financing only? I would guess 30% or more.
This is why there is still a supply/demand imbalance, in addition to incomes being too low to justify the current valuations, and for potential buyers being able to clear the market of inventory.
Price declines are inevitable.
“#chukdotcom on April 11th, 2011 at 3:39 pm
“Prices will fall another 20pc.”
No
“We are gonna set a new CS chicago index low in 2 weeks time.”
Yes
“And its all downhill from there.”
No
“Lord only knows where the bottom is.”
No”
“What percentage of buyers do you think have $100K+ liquid sitting around? I would guess 10-15% at most.”
uhhh – please see my rant on the other thread “Are Vintage Properties Out of Favor? 434 W. Oakdale in Lakeview” where there are multiple people making several hundred thousand dollar cash offers on many properties. It is absolutely crazy out there right now.
Plenty of great houses in Oak Park now for under $500,000, and not necessarily in last two blocks north of Roosevelt. Houses in Austin corridor or priced at less than $200,000.
DING DING DING!! Dave M has the correct answer.
“This is why there is still a supply/demand imbalance, in addition to incomes being too low to justify the current valuations, and for potential buyers being able to clear the market of inventory.”
HD – you must be retarded (sorry madeline). Seriously, look at what is actually happening – stop analyzing the numbers, get off your ass (or pick up the phone) and talk to people who are actually in the market. They will tell you that it is absolutely insane and crazy right now. ALL of the properties I have made offers on (and there have been at least 20 in the past 4 weeks) have gone under contract with 100% cash offers above asking price. I never offered above asking – but offered 100% cash and was rejected on all of them. Look at the other thread where I actually gave two of the properties that aren’t even in nice areas.
silence = agreement (at least from HD and G). Thanks for the acknowledgement.
Clio: it’s the spring thaw. It happens every year and this year it seems more pronounced as we had a hellacious winter. I have no doubt there is a lot of activity now I have a realtor friend closing on four properties this week alone. That’s why I like to look at year/year figures as it strips out seasonality.
Silence is acceptance, not agreement, clio. And nobody’s silent. This is the busiest time of the year. It’s called the ‘spring bounce’. Are you a real estate neophyte?
I am going to disagree with you Clio. If things were better, why aren’t market times improving significantly? I really could care less about investment properties and cash buyers. Were a lot of these cash buyers for $500K properties in OIP, or in areas with excellent schools?
clio, moreover, what I saw was a lot of contract activity last month but April seems decidedly slower than late feb/march. At least in the areas I watch. It was as if everybody who wanted to jump into the market did so at the same time and then now things have slowed down again. Sure there are closings masking the dearth of new contracts but don’t be fooled: activity is still slow and prices will continue to fall, and will do so in the higher priced areas too.
Keep in mind there are been only 5 homes sold over $500,000 sold in OIP in 6 months.
” Sure there are closings masking the dearth of new contracts but don’t be fooled: activity is still slow and prices will continue to fall, and will do so in the higher priced areas too.”
WTF are you talking about? and who the f do you think you are talking to?!! I just told you that I am spending almost 100% of my time in the market and am actually bidding on all of these properties. All of these places have MULTIPLE offers and they are all cash and all above asking price – yet they still are listed for sale on redfin. I gave 4 examples already today and if you are too dense to understand this (which I should assume you are because you keep spouting that nonsense CSI number) then I should just stop trying to convince you. However, if you DO want to know the truth, just ask realtors/brokers. Or better yet, why don’t you put an offer on something – oh yeah, because you are waiting for the prices to drop. Good luck Linus, hope the Great Pumpkin comes…
I am following a lot of properties on redfin, and amazed how many are going under contract. I check redfin for new listings everyday. I am seeing quite a few desirable places that say in the listing they were sold before processing. Is this common? And these are places listed above your 500k figure.
I hate to agree with Clio but it does seem like a ton of activity out there for DESIRABLE places. Anything that is nice, is selling fast.
Good luck Linus, hope the Great Pumpkin comes…
Clio…. nice LMAO
Clio,
I really don’t know why you spend so much time here…. no one is going to listen to you……. The most vocal here are kids with no assets saving for a downpayment. They are just talking their book.
I spend little to no time here as it is really unproductive…. I have been focusing more of my energy trading etf’s, which has been much more profitable.
” However, if you DO want to know the truth, just ask realtors/brokers.”
And this is how I know that your act here is just a charde, a character, a funny joke. I too have a schtick just like others on here. I hardly take anything on here variously seriously.
finding the same thing as clio out there. It’s back to the days when our agent is not even getting his calls returned from some listing agents becuase they have too many offers already on a particular property.
“I really don’t know why you spend so much time here”
…it keeps me from bidding on even more properties!!!
It’s funny how nearly every thread goes into 1 of 3 directions: debate over prices (falling or bottomed), debate over rents (flat or rising), or debate over something completely unrelated to real estate.
Now that is completely untrue.
How could you leave out:
debate over neighborhood boundaries
debate over city vs. suburbs
debate over school quality
debate over flooding and drainage systems
debate over developer ethics
debate over short lots, one-bathroom houses, and awkward layouts
debate over interest rates
and so many more?
“The most vocal here are kids with no assets saving for a downpayment. They are just talking their book.”
You betcha. Idiot Generation Ys who are pissed off they cannot have everything yesterday. Oh and no trophies for them just for showing up now that they are in the real world.
roma:
Don’t forget:
“hey you kids, get outta my yard”.
NEW YORK (Reuters) – The world’s largest bond fund began betting against the United States last month by taking short positions on its debt on expectations the nation’s shaky finances will drive interest rates higher and imperil its triple-A rating.
Bill Gross, PIMCO’s oft-quoted co-chief investment officer, in January warned that “mindless” U.S. deficit spending could result in higher inflation and a weaker dollar.
He has also been raising alarms about a lack of buyers for Treasuries once the Federal Reserve ends its own bond purchase program, also known as quantitative easing, in June.
“They are one of the largest investors in the Treasury market, so yes, it is significant,” said Gary Pollack, a portfolio manager with Deutsche Bank Private Wealth Management in New York.
“They have the ability to move the market, that is something that makes me a little nervous.”
Investors in exchange-traded funds and futures have mirrored the PIMCO trend in recent weeks.
PIMCO expects the lingering U.S. budget deficit and the Fed’s easy monetary policy will fuel faster inflation and hurt the dollar.
CCers here with cash (the US dollar) as there predominate asset better think more about how they are going to position their assets in the future, if you think the real estate bubble hurt wait until you see whats ahead.
“How could you leave out”
My bad.
Welcome to the future. Look at demographics. Guess who’s going to take your money in one way or another.
“#JMM on April 11th, 2011 at 5:16 pm
“The most vocal here are kids with no assets saving for a downpayment. They are just talking their book.”
You betcha. Idiot Generation Ys who are pissed off they cannot have everything yesterday. Oh and no trophies for them just for showing up now that they are in the real world.”
Welcome to the future. Look at demographics. Guess who’s going to take your money in one way or another.
HD I thinks its more like welcome to the future, look at the demographics. You will be funding JMM’s retirement, but who is going to fund yours, this is your future. Wage stagnation, high government debt level, lower standard of living, no retirement until your 70’s……… this is the future….. You better figure out how you will fight, the future is not going to be as easy as the past.
Not to jump on the bandwagon but…. you guys in your 20s and early 30s make fun of the suburbs/ex-burbs but when you realize that you can barely get a 2/2 in a so-so location in chicago, you will soon change your tune when you properties like this out there:
http://www.redfin.com/IL/St-Charles/3307-Greenwood-Ln-60175/home/16992290
(and many many better deals). This is what happens with every generation. Big heads meet small wallets – this translates to sacrifice and the move to the suburbs – but you guys will see that it is not all that bad.
…and if you can only afford 229k and have a family, what are you going to do? buy a 1 bedroom in chicago or buy this:
http://www.redfin.com/IL/St-Charles/423-Red-Sky-Dr-60175/home/16927627
“you guys in your 20s and early 30s…. will soon change your tune…”
Nope, I’m just gunna stay in my Moms basement.
“you guys in your 20s and early 30s…. will soon change your tune…”
Nope, I’m just gunna stay in my Moms basement.
Funny you bring this up ze, I have been discussing this type situation with one of my co-workers. She has a daughter who graduated from college and can’t find a job. Well let me clarify something, she can’t find a job that fits her criteria. Oh and the other difference is she live in a LP house (converted 3 flat), and has almost an entire floor, so its not quite a basement.
I told my co-worker to kick her out, she said oh no I can’t do that. My response well make her pay rent and stop giving her an allowance….. AN ALLOWANCE FOR A COLLEGE GRAD…… this is how we are preparing our youth to enter the real world.
The choice isn’t between a 1-bedroom in Chicago and living in St. Charles.
There are plenty of homes in Chicago priced under $200k. You should check out Galewood, Morgan Park, Beverly, and Portage Park (to name just a few.)
So it’s not all or nothing.
Thank you Valasko, for posting the article about Bill Gross shorting treasuries.
What does everyone on this thread think is going to happen to interest rates? It’s been a bull for 26 years. There is only one way for it to go: it’s up.
As far as sales being hot on the low end- they’ve been like that for a year or more. The investors have been out in droves for awhile- buying the $25,000 houses etc. That’s why over 50% of sales are foreclosures/distress sales.
Apparently, Clio, you haven’t been trying to buy the 3/2 condo in Lakeview or Lincoln Park that, despite being 20% to 30% off the prior bubble sales price, still can’t sell because it’s still listed over $450,000. How low will those go? We’ll have to see. I’m expecting a lot more foreclosures/short sales in that group before a bottom is hit.
“There are plenty of homes in Chicago priced under $200k. You should check out Galewood, Morgan Park, Beverly, and Portage Park (to name just a few.)”
uhhh not comparable to what you can get in the suburbs. not at all… and certainly not acceptable to most people here.
What are you talking about? Have you seen the mansions in Beverly, Clio? You can get one for much cheaper there.
You can get this same 4-square in Morgan Park for much cheaper than this one in OIP. Ditto for Portage Park. Plenty of bungalows. Same bungalows you would buy in Park Ridge or Oak Park (or Evanston.)
You have to expand your horizons. Oh- I left out Avondale as well. You can get a fully redone house in Avondale for around $300,000.
Clio are you out bidding on individual $25k houses?? wtf.. ROFLMAO!
“think is going to happen to interest rates? ”
Seems the call is on target to me. Been saying the same with Anon the past few weeks. In this too deep, alternative not palatable, fed will remain accommodative and supportive of cheap money. If yields don’t give dollar will, has to be one or the other. Yield curve I like flattening a bit or at least feels like the safest bet now.
I am getting 11.75% on demand deposit and about to raise here again and absolutely no slowing down as of yet.
Architect: Thanks for again pointing out Riverside. Shhhhh…it is our secret. Fabulous historic homes, small community, quick metra access downtown, tree lined streets, the zoo is nearby (no not THAT one). It’s a great area.
Actually, the homes seem far more affordable in nearby Brookfield, which shares the public high school with Riverside.
and again.. never talked about price inflation before but I am seeing it everywhere now…
Yes- Chris- they are even more affordable in Brookfield. But it’s different housing stock. You have Frank Lloyd Wright homes in Riverside. The Brookfield homes are smaller. There are some great deals in Brookfield though. Great starter home area, actually (especially if you can’t afford nearby LaGrange.)
Ze you sure you aren’t talking your book? You’ve been a doom-cryer of hyperinflation for two years now and for the most part overall inflation is muted.
Sure energy is way up but there’s enough deflation in other things to negate that, at least in my basket of goods.
Ze- you are in ground zero for the inflation. We’re not seeing it as badly (yet) here in the U.S. but with all the price increases being pushed through on things like chemicals- it’s only a matter of time.
Brookfield and Riverside are at risk for turning “bad”. It is sad – but I wouldn’t bet on these areas.
What’s your basket of goods Bob? McDonald’s and Krispy Kreme both have said they’re raising prices. Gas prices are going up. Gap/Banana Republic is raising prices on shirts by $10. All the jeans manufacturers have said prices will be rising sharply by the fall (yeah a 150% increase in cotton prices will kind of do that.)
Corn, wheat, soybean all up. Tin at record highs. Copper near record highs. Chemical prices back to 2008 record highs (due to crude.)
What do you buy that won’t be affected?
“Brookfield and Riverside are at risk for turning “bad”. It is sad – but I wouldn’t bet on these areas.”
Ha! ha!
They are great suburbs. Both are nice places to raise a family.
Does Berwyn have decent public school options? The housing stock over there is really quite charming. I love the uniform look of brick bungalows stretching for blocks and blocks, each with it’s own unique character while blending harmoniously with its neighbors.
“They are great suburbs. Both are nice places to raise a family.”
They ARE great suburbs – and so was Oak Park/RiverForest- but look at what is happening there… it is becoming a little dangerous
Chris M: The schools ARE an issue in Berwyn. The high school isn’t as good there as some other areas.
“doom-cryer of hyperinflation for two years now”
No, I said in April of ’09 that I thought it was a good time to go long commodities.
I have been a doom-cryer of the dollar for more than the past 2 years and currently I am still short but not bearish if that makes sense.
If you can find any previous posts, over the past 2 years, exclusing the past month, relating to me discussing prices of end goods rising I would enjoy seeing them. I had been for a long time in the deflationary camp. I am most certainly not today.
Lastly, ME cheer-lead my book… NEVER!!! Makes me f’n nuts when people do that!!!
Clio – Oak Park’s becoming dangerous? Haven’t had any issues since moving here last year…certainly no less safe than the GZ areas in the city. I think anyone coming from the city can tolerate the level of crime in Oak Park, which is mostly limited to petty theft from garages. Actually, I just read a few weeks ago that crime is at it’s lowest level in decades in Oak Park.
Here’s the little rub Bri, remember the good old days when the Fed raised rates and the economy slowed/stopped.
This is global price inflation. They raise rates here to slow the economy and ya know what happens. More money pours in here to buy those rates just making things even hotter. Rules just changed, whole new world!
Brookfield? Riverside? I’m assuming those are Chicagoland area suburbs. Evergreen, Broomfield and East Aurora are also nice burbs in which one can buy a decent SFH and raise a family. But why stop there. How about Tabernash. Or whatever. These are all great places, but none of which would ring a bell to people seeking to live in the desirable areas of the City of Chicago. I realize I’ve only been here about 5 years, and have admitedly myopic vision in terms of locations, but come one folks. If the almighty SFH for under $450k is really so important to you, it’s time to expand your search to other metropolitan centers in this country. NYC/Chi/SF/DC/LA are great, but they’re not the only places worth living…especially if you can’t fathom purchasing a two or three bed condo, and instead feel that the only financially rational choice is a SFH.
What’s your basket of goods Bob? McDonald’s and Krispy Kreme both have said they’re raising prices. Gas prices are going up. Gap/Banana Republic is raising prices on shirts by $10. All the jeans manufacturers have said prices will be rising sharply by the fall (yeah a 150% increase in cotton prices will kind of do that.)
Corn, wheat, soybean all up. Tin at record highs. Copper near record highs. Chemical prices back to 2008 record highs (due to crude.)
What do you buy that won’t be affected?
Sabrina,
I believe that bob live in Seinfeld’s Bizarro world, you know everything is the opposite of reality. Rents go down, food is cheap, and natty ice is free. Ah its good to be bob.
“Ze- you are in ground zero for the inflation. ”
And that’s the other thing. I am in an appreciating currency. I SHOULDN’T be seeing the inflation before you. The only reason I am is because here in the land of once 3,000% inflation, history dictates price increase get pushed through automatically. In the U.S. companies actually compete and care about things like market share and will eat input price rises for a while until they just can’t.
Well you could even get the almighty SFH in Evanston, a short walk to the lake, for under $450k, and I’m pretty sure that community made your short list.
Annony- people who live in the city take their kids to Potbelly’s. What’s the difference between going to the one in Oak Park or going to the one in Lakeview or Bucktown? Not much. So why not live in an affordable neighborhood while you’re at it? That’s the decision many people finally come to (which is why they leave the city.)
Annnony- I think you are missing something that is very cultural to Chicago. In my opinion, a lot of people who live here were raised in single family homes. When they have families, they want to live in a single family home and don’t even think twice about wanting to sell the condo (even if it’s in Lincoln, Blaine or Bell.)
They think, “I have two kids now. Why should they have to share a room? In the suburbs I can have a four or five bedroom house where everyone has their own room AND there is a “spare” guest bedroom.”
“What’s your basket of goods Bob? McDonald’s and Krispy Kreme both have said they’re raising prices. Gas prices are going up. Gap/Banana Republic is raising prices on shirts by $10. All the jeans manufacturers have said prices will be rising sharply by the fall (yeah a 150% increase in cotton prices will kind of do that.)”
If you’re a savvy consumer there are ample deals out there–you have to be willing to look for them. I don’t consume much McDs nor any Krispy Kreme, but lets look at a night out: using sites like yipit (a discount site aggregater) I can go out to a place for like 70% off.
The next day let’s look at Bob’s hangover cure: unsweetened iced tea (lots of it). Not normally a fan of Starbucks but now they offer free refills for regulars. Yeah I gulp me down some gallons.
For a night out at a restaurant I can use a code at restaurant.com to get a $25 gift certificate at many local restaurants for $2 ($35 minimum tab required but that’s easy).
A favorite chinese food dish of mine (Singapore rice noodles) is on lunch special at a place in not too far for $6.30–never been cheaper. A decade ago in a smaller midwest town this cost $8.50. Oh an on Thursdays Sura Thai bistro has $5 pad thai.
My cell phone plan just dropped to $45/month unlimited from $50. In another six months it will drop to $40 and then $35. Oh and the cards can now be had on ebay for discounts up to 40% off par value (lots of failed cell phone shops liquidating their inventory).
Merchants have gotten more keen on price discriminating between those consumers willing to pay full MSRP and those like me that aren’t. Not my fault you are lazy valasko. Maybe you should stop eating the McDs and Krispy Kreme donuts. Lazy valasko with the glaze from the krispy kreme donuts on his lips.
Valasko two sites that make keeping track of all of this crap easier are yipit.com mentioned above, as well as fatwallet.com. I don’t want you thinking I scour the internet all day finding this stuff these sites already do the homework for me.
Wow Bob. You could be on that show about extreme coupon clippers!
Most people don’t live like this. They will notice the inflation shortly (if they haven’t already)- even in areas outside the pump.
Bob, I guess you have it all figured out….. I don’t have the time or energy for that, just fat and lazy from all those donuts. Of course it does help when you don’t have to live paycheck to paycheck in a uptown studio apartment.
Valasko 4 years ago I was 85k in debt, now I am debt free. Have you improved your net worth by such an amount in this time period?
If not I don’t think you have room to criticize my savvyness for keeping my costs in check.
I will, however, say hi to you at Wal-Mart when you greet me in your 70s. I won’t be working then, though, and there to pick up just a few things.
I’ve also noticed price some mild deflation. Granted I’ve done some substitutions and I have few brand loyalties. I’ve seen some price inflation but I find that even if prices go up, 2 weeks later there is a 2 for 1 sale or some sort of sale or new price reduction (granted the package may be slightly smaller!). The retailers are having trouble passing increases on to the consumer. They all try to warn that prices are going up but just like they warn rents are about to explode.
The inflation in raw goods and commodities is 2008 redux; it has all happened before and it will all happen again. Just as oil dropped to 33$ a barrel from $140, commodities will soon drop again; and the cycle will continue.
Ze is talking about hot money inflows. the dollar is the new carry trade. Borrow here at near 0% and invest it abroad. That money will all disappear from where it came though but the producers will remain. THe boom bust cycles have been amplified.
More comparisons of Bob’s cost basis, 2007 vs. 2011:
Bob’s fixed monthly costs in 2007: ~$1,250/mo.
Bob’s fixed monthly costs in 2011: ~$1,150/mo.
Bob’s variable costs in 2007: ~$800/mo.
Bob’s variable costs in 2011: ~$650/mo.
Yeah it’s bizarro world, valasko–a world where Bob comes out ahead.
“Wow Bob. You could be on that show about extreme coupon clippers!”
I actually know a guy who could make a living at this, however he made the mistake of buying real estate near the peak and his housing expense is significant. So all of his savings just go towards payments on his underwater condo. His housing situation really does eclipse everything else. Maybe in valasko’s bizarro world he lives a better life than me but that doesn’t seem to be the consensus.
Bob, I was joking with you, its great you are debt free. Oh you don’t need to worry about my net worth. I paid uncle Sam more than 85k in estimated taxes last year. The last two years have had stellar returns. This year will be tough to match the last, you still shorting the market. How is that working out for ya? I plan on retiring in my mid fifties, by time I am seventy I may be board and take that job at walmart, if you see me say hi!
Must be nice to be connected to finance in some way. it IS the chosen profession. However just like the days of the conquistador and the robber barons, the days of finance will pass….
“#valasko on April 11th, 2011 at 8:58 pm
Bob, I was joking with you, its great you are debt free. Oh you don’t need to worry about my net worth. I paid uncle Sam more than 85k in estimated taxes last year. The last two years have had stellar returns. This year will be tough to match the last, you still shorting the market. How is that working out for ya? I plan on retiring in my mid fifties, by time I am seventy I may be board and take that job at walmart, if you see me say hi!”
Some people on this board pay more for their nanny than you spend on fixed monthly costs.
“#Bob on April 11th, 2011 at 8:51 pm
More comparisons of Bob’s cost basis, 2007 vs. 2011:
Bob’s fixed monthly costs in 2007: ~$1,250/mo.
Bob’s fixed monthly costs in 2011: ~$1,150/mo.
Bob’s variable costs in 2007: ~$800/mo.
Bob’s variable costs in 2011: ~$650/mo.
Yeah it’s bizarro world, valasko–a world where Bob comes out ahead.
“Wow Bob. You could be on that show about extreme coupon clippers!”
I actually know a guy who could make a living at this, however he made the mistake of buying real estate near the peak and his housing expense is significant. So all of his savings just go towards payments on his underwater condo. His housing situation really does eclipse everything else. Maybe in valasko’s bizarro world he lives a better life than me but that doesn’t seem to be the consensus.”
bob doesn’t have to worry about a nanny – with his cheap spending habits, he will likely be alone the rest of his life!!
Yeah still shorting the market. It was a small bet to begin with and yeah the positions got hammered, but the good thing about being a small fry is the nominal losses overall aren’t that bad: -$4,200 over the past two years. Speculating on market directions is a fun hobby with better odds than the casino–can’t win ’em all.
Most of my other cash is sitting in a money market earning close to nothing. I’m okay with that though–I don’t trust the equities market so long as uncle Benny is running them printing presses.
“If you’re a savvy consumer there are ample deals out there”
I’ve found it’s harder to get a deal on cable. Used to be you could get 30-40 percent off just by asking. Much harder to do now in my experience.
“bob doesn’t have to worry about a nanny – with his cheap spending habits, he will likely be alone the rest of his life!!”
Isn’t this a bit of the pot calling the ketel black, clio? Haven’t you already admitted on here its so lonely being so wealthy all alone in your mansion? lol
Besides: while thriftiness can be a hindrance to one’s dating life it needn’t be and not being an assh_le helps. With women clio you attract what you put out there: drive a high maintenance car you’re going to attract high maintenance women–no way would I want to date lambo chasers even if I had the $.
I know. Bob, how do you manage it? I am interviewing nannies and they cost north of 1500$ a month for 4 days a week and I don’t even ask them to cook for the baby. BTW, these are cheap nannies nothing fancy. I have very low expectations, my only somewhat picky requirements are that they must speak at least one foreign language; have had children of their own; and exercise.
“Some people on this board pay more for their nanny than you spend on fixed monthly costs.”
Cable? Netflix, mirc and a highspeed internet connection and I don’t really feel missing anything.
“I’ve found it’s harder to get a deal on cable. Used to be you could get 30-40 percent off just by asking. Much harder to do now in my experience.”
They’ve probably fine tuned their customer behavior modeling and know that most customers just want cable and will pay up. Decline service and wait a month or three–they’ll send you a deeply discounted offer for the first few months.
No ssupernanny for you miumiu! She is childless, doesn’t exercise and speaks only english!
“Bob, how do you manage it?”
I’ve been very lucky that my basket of goods and services is not one experiencing inflation. Raising kids isn’t cheap and even if there were a “groupon” for a nanny I’m not sure that would be such a good thing.
You CAN always try day-care for your kids. When walking around residential neighborhoods I see day-care signs. Ask your neighbors with kids and they’ll have a lot more insight into this.
Also while my costs are down, our state just raised taxes so I’m not nearly pocketing as much of this extra cash flow as I should be. Cullerton & Madigan feel entitled to even more of my paycheck to fund the welfare class.
“mirc”
No copyright infringement I hope. (I certainly wouldn’t do it if I were an attorney.)
“They’ve probably fine tuned their customer behavior modeling and know that most customers just want cable and will pay up. Decline service and wait a month or three–they’ll send you a deeply discounted offer for the first few months.”
I’m not sure it’s that finely tuned. I think they’ve just stopped offering discounts on a more general basis. Probably because of sites like fatwallet.
@HD…lol
Bob, I don’t mind daycare, but my mother-in-law is against it for kids before 2 years of age and she is very adamant about it so I thought I would go with a nanny for the first 2 years and then use a daycare. I actually like daycare as we don’t have a big family here or many kids around us and I don’t want my kid to feel like he is some special brat or something because he grows up around adoring adults.
“I think they’ve just stopped offering discounts on a more general basis.”
I meant they’ve stopped significant discounts to existing customers. I’m sure they would send come back to us offers but I’m not canceling cable for months. I also think I could probably switch service to my wife and qualify for new subscriber discounts. I *hate* waiting for the cable guy though.
“no way would I want to date lambo chasers even if I had the $.”
uhhh…i don’t date them….
Having few brand loyolties helps the deflationary cause. Substitution goes a long way for most commodities, but not asll as I recently learned from a corn meal adulterated bag of Target brand flour…..
Bob, if you want to be successful in the market you need to treat every trade the same whether it’s $1 or $100k. Broad based shorting of the market is a very tough game. I have only done this when there is in a meltdown phase and only for a very short duration. If you want to speculate try some levered etfs with a positive 5 day, 1 month and 3 month rate of return. A economic or political catayst helps. Look for negative after hours moves and low opening bids, one or two buys at the lows and out before lunch. Also don’t get greedy or over confident in your ability to trade. You need understand that the conditions need to right for the trade, never force a trade. And lastly always remember it is far easier to lose money that it is to make it!
We have stopped our all cable and it is so pleasant. We only watch things that we care enough about them to go and actually buy or rent them. I think cable TV is such a sink of time.
Xbox is also a relatively inexpensive form of entertainment, and so are my weekly all nighter D&D sessions where I am the DM for a team consisting of a orc, a, well, maybe I shouldnt talk about D&D in front of sstrangers.
In fact, we don’t even own a TV in Chicago and at our home we have an old little TV that my ex bought me when I was in school…lol…but we have a projector that rocks for watching movies.
what is D&D?
“and so are my weekly all nighter D&D sessions where I am the DM for a team consisting of a orc, a, well, maybe I shouldnt talk about D&D in front of sstrangers.”
The only HD I enjoy more than OIP HD is D&D HD. Don’t forget CC for free entertainment.
Clio, have you checked out the R8? It looks like batmobile. If my husband wouldn’t have murdered me, I would have bought one.
Dungeons and Dragons. HD – I had you pegged for a WoW kind of guy.
“Clio, have you checked out the R8?”
Is that the one with the same engine as clio’s car?
“If you want to speculate try some levered etfs”
One of my shorts was a bearish levered ETF which reinforced something I learned on margin over a decade ago: with leverage you can be right in the long-term but dead in the short term. The path dependency just adds another layer of complexity to them and requires a bit of nannying of those positions. Not sure I’m up for that.
Also on my shorts I made the mistake of assuming the rules of the game were as they always were. I didn’t consider that market valuations now are more of a product of a purchasing power hedge to guard against the FRBONY intentionally debasing the dollar vs. any economic fundamentals of the equities themselves.
When the going gets tough the elite just change the rules of the game–that wasn’t in the textbooks when I was in school.
I don’t know, but I doubt it. R8 is Audi’s sport car:
http://models.audiusa.com/r8
I love it and I think it does not look very flashy either.
Miumiu I’ll be your nanny, I speak Dutch, French, some Spanish, some Italian and some Swedish and work out when I can, and I have two kids! I even make my own baby food…
If you’re not already a member of NPN I recommend it, it’s one of the best places to find nannies in Chicago.
Bob, for a change try something that isn’t a bearish play. See what happens. Also leveraged ETF trades are easier to play IMHO that follow a positive trend.
Wow Jennifer, you look and sound amazing and I also like you and your posts.
I don’t live in Chicago though, we only are there in weekends (I have not been for the last two though because of work). I live in a small town and man it is hard to find people like you in my midwestern town…sigh… I checked the websites in my area and you should see the people I find. They are all nice people of course but so not my idea of a nanny and definitely no Europeans or Asians. One of the ladies, I interviewed was bragging about her marshmallow chocolate brownies and how the kids she looked after loved them and the mom had to learn her recipe to make it for them for breakfast!
Boy this thread is all over the map. Enough cc for this month!
Bob see you in May, I hope you have some profitable trades!
We could have spoken in French when we did not want my husband to understand ; ) and Italian when my in laws are here. Oh and I used to know some Swedish, mostly bad words and cheesy lovey dovey stuff…lol..
Bob, when in the past 100 years has the dollar not been debased? When was the last time a crisis occurred the Fed did not accommodate with monetary policy? How was this not an option?
When in the past 2000 years have the elite not tried to change the rules when they needed to?
“Bob, when in the past 100 years has the dollar not been debased?”
In the past it was done with inflation. The Fed didn’t just start printing money at any point in my lifetime. Heck even the 1980s recession was caused with a war on inflation (via rate hikes). Yet these days they seem to be aiming for it.
Its funny the current levels of the market have more to do with the central bank’s actions than they do with any strong fundamentals of the companies. Look out below when the FRB has to start removing all these excess reserves from the economy.
Yes a lot of my Swedish is the same!
I hope you find someone. I found some interesting people on care.com, but went with daycare in the end. If you have the space you may also consider an au pair, although they won’t have their own children of course.
I am afraid of leaving a newborn with an inexperienced person. If the kid was a bit older, then I had no problem. I am even afraid of taking care of a newborn myself.
I think I can guess how you learnt your Swedish as well…hehe
BTW, did you ever have “Janson’s temptation”? I thought it was so horrible looking and tasting and never could grasp what was there to temp Janson? : )
“In the past it was done with inflation. The Fed didn’t just start printing money at any point in my lifetime. Heck even the 1980s recession was caused with a war on inflation (via rate hikes).”
http://en.wikipedia.org/wiki/File:Components_of_US_Money_supply.svg
http://en.wikipedia.org/wiki/File:Changes_in_US_Money_supply.svg
They have always been printing…
No I don’t think I ever had that – sounds ok apart from the pickled sprats! The Swedish comes from my years working for a Swedish company. Made a lot of really great Swedish friends.
The Gallardo V10 and the Audi engine use similar technologies and are similar, but there are also a lot of differences. The S6 absolutely rips and that is one of the most fun new cars I have driven recently. I like my cars to be relatively practical. I am still scared away from Audi a little because of build quality, though.
I am sure that there will be increasing inflation in the US, because there’s been nearly none (
(looks like my numerical rendering of “less than three percent” looked too much like HTML and got dropped, so here’s the rest of my comment)
… (less than three percent, more or less) for a long time. I’m not sure that I’m convinced that the consumer is that affected at the individual level. Most people easily waste 3% of their consumption, don’t shop for a good price and buy things that they don’t need. I am not sure that even continued 5% inflation would be that bad – it’s a nice scare tactic for people with a gloom and doom outlook/agenda, but I would be more concerned about interest rates increasing 300 bps or so than I would inflation even double what we have now.
If you only want to spend $1500 a month for childcare, you’re better off with a daycare. It’s also good for immune systems and socialization. Monthly full-time minimum wage is like $14xx so, even assuming you’re only requiring 8 hours a day on those 4 days, you’re only paying 20% more than the absolute minimum, so you should not be surprised you’re not finding too much. (And it’s not easy to find a job for one day a week if your nanny wants to work that other day. However, like all things related to yuppies in the city, if you’re not already on the waiting list, you’re not getting into the good ones anytime soon. (Actually, if you sign up now, you may be good, who knows?) Good nannies are going to be $25k-$30k a year or so.
The kindercare in LP is something like $454 a week for infants and I think that was the ‘discount’ price. the price drops as your baby ages. And Kindercare has only 20 or 30 slots and they’re always full. There’s a waiting list to get one of those coveted slots. I know people who pay their nanny so she nets $700 a week plus the nanny tax and paid time off. These people were working professionals pulling a HH income in the $200’s at least. Anon(tfo) laughed when I said $700 a week he thought that was too low but it can be done.
$1,500 bucks a month is enough to get you into a daycare with middle and upper middle class children. That’s $70 or $75 a day per kid. Some of the daycares that take state subsidies (yes the state of IL will pay your daycare if you work!) are only like $25.00 a day and the co-pay for the parents is only like $100 a month or something. ergh. Middle of the road daycares are $60-75 and of course that kindercare in LP is $90 a day and I think that was the discounted rate. I don’t know how much creme de la creme is but that’s pretty high end, the kids wear uniforms and stuff.
“If you only want to spend $1500 a month for childcare, you’re better off with a daycare.”
Having children is a choice. Going back to work once you have had a child is a choice. Stop bitching about the expenses. If you don’t like it, put your kid up for adoption or don’t have children. If not, then shut the f up.
We pay $340 a week out in Lake County for an infant (the one we are on the waiting list for is $365). It goes down to $295 once they’re 15 months and can transition to the toddler group.
The other good thing about daycare is that your baby gets socialized much sooner than other children. I know of little children with nannies or stay at home mothers and even at age 3 they have difficult times playing with other children.
Re daycare: You can pay for it with pretax dollars can’t you, if both parents work (and maybe your employer has to offer program too)? Like healthcare FSA.
“Having children is a choice. Going back to work once you have had a child is a choice. Stop bitching about the expenses. If you don’t like it, put your kid up for adoption or don’t have children. If not, then shut the f up.”
No one is bitching – people are talking about pricing and costs. You are the one that should shut up, as I feel confident in saying that your assessment of what people should do is worthless to everyone. You are certainly a pathetic wretch of a half-person, and it’s obvious to all of us. No one likes you here. I’ve sat here for the last few days and watched you call people idiots and morons when they did anything but agree with your incorrect positions. Most of the time, they didn’t even address you directly, you just butted in. You can’t stand the idea that anyone disagrees with you, and your insecurity about having anyone disagree with you manifests itself in disgusting displays of aggression and hate. You should look at why you behave like this and try to make friends with real people in real life and think about the way you put yourself on display to try to make people like you. It doesn’t work, and no one is impressed by you either.
” I know of little children with nannies or stay at home mothers and even at age 3 they have difficult times playing with other children”
Well I never went to daycare and I get along with people just fine….
Clio you still act like you’re three years old…
Re: nannies, the search can be tough, but most of the people I know who pay their nannies around $30k a year or more (and pay the related taxes) are very happy with their nannies, who generally are perfectly happy to do stuff like meals for the kids, errands, grocery shopping, some meals for the parents and light housework. It only really pencils as a better value than day care for multiple kids, though.
The listing remarks say “walking distance to Disney Magnet School.” It’s like 31 BLOCKS to Disney school. JEEZ, that’s a long way for a little kid to walk.
Disney II
In my city wages for nannies are 10-20$ an hour. I need a nanny 6 hours a day for 4 days which is 24 hours a week, at 15$ an hour, this is 360 a week so total of 1440$ a month. I don’t expect the nanny to cook or shop for the kid or do any home chores (we have a cleaning lady). Also we are usually gone for a month in Christmas and I am still planning to pay my nanny for that period. Of course there are taxes and healthcare costs (I have not figured those out yet). I think I am in the right ball part. Everyone I contacted was interested. So far, I like only one of them though.
I don’t ask for her to make food as I like to cook myself and I am very particular about it so I don’t want anyone else to make it.
Disney II opened 2 years ago I think. Again though it’s only 50 or something slots; and half those slots are reserved for siblings of all ready admitted students. And of the 25 remaining slots I’m sure there’s some clout. There were 650 applications for the 2009-2010 school year and 800 applications for the 2010-2011 school year. The line of cars in front of the school every morning dropping off parents include Mercedes SUVs, new Volvos, Escalades, BMW’s, it seems like there are more luxury vehicles than regular sedans.
Miumiu you just have to keep looking. The right one will come along. You are offering a great package, I suspect the pool of candidates just isn’t that big.
Wow, I bitch about prices down here but I can have a maid, cook, and driver for what you guys pay for a nanny.
“Anon(tfo) laughed when I said $700 a week he thought that was too low but it can be done. ”
I laughed when you said that $700 was was top end on actual cost, not net to the employee. $700 net to the employee, all on the books, is almost $1000 to the employer.
$700 gross is still about $765/week in actual cost and nets the employee about $570.
Calculator to play around with:
http://www.breedlove-online.com/Answers/EmployerBudget.aspx
“Re daycare: You can pay for it with pretax dollars can’t you, if both parents work (and maybe your employer has to offer program too)? Like healthcare FSA.”
Capped at $5000. And is a substitute for the $500/kid Child Tax Credit.
House seems priced right – Im saying it will go in the $460 – 470 range.
In regards to Nanny vs Daycare. Everyone has their own opinion. I have a Nanny for my kids because its more convinient for me and the nanny picks my one kid up from Preschool and shuffles the other around to playgroups and park District classes. She also cleans my house and runs the occasional errand like pick up Milk etc. Definitely kids need socialization so that is why they are in playgroups etc.
Its an individuals opinion on what they want to do, no right answer. No need to bash someones decision on what they do with their kids.
Ze, you live in a developing country. The wages are so much lower of course.
They say in times of economic distress wealth moves from weak to strong hands…
“What percentage of buyers do you think have $100K+ liquid sitting around? I would guess 10-15% at most.”
uhhh – please see my rant on the other thread “Are Vintage Properties Out of Favor? 434 W. Oakdale in Lakeview” where there are multiple people making several hundred thousand dollar cash offers on many properties. It is absolutely crazy out there right now.
“They say in times of economic distress wealth moves from weak to strong hands…”
Fair to say it occurs in good times too. Great argument against Socialism. If you spread it all around today, in 10 years all the rich will be rich again, and all the poor will be poor again.
Risk-off is the trade. The long-term trends and secular bull markets in commodities/metals/energy are still intact. Short-term it’s anyone’s guess as to what’s going to happen with QE2.
Anyone have an opinion on:
If QE2 ends, there is no bid at Treasury auctions, so Interest rates rise.
IF QE2 ends, investors exit equities/commodities and rush into Treasuries, so interest rates fall.
Which is it? This will affect mortgage rates over the next 1-2 years.
“CCers here with cash (the US dollar) as there predominate asset better think more about how they are going to position their assets in the future, if you think the real estate bubble hurt wait until you see whats ahead.”
I agree. Different families have different lifestyles and needs. Even within a family circumstances can change and what works now may not work later. I never would have gotten a nanny when I just had one but it sure would make my husband’s and my life easier if we had one now.
If you use FSA dependent care to pay for daycare you can’t deduct childcare expenses on your tax return, but the benefit of using pre-tax dollars is larger (for most) than the $600 max benefit of deducting childcare expenses.
There is too much brainwashing for the people in their 20’s (and the 30’s overgrown-adolscents still clinging to the brainwashing) to make a rational decision like the one below. Based on the brainwashing, the pinnacle of existence today is to live in an urban hipster zone, (NY, SF, LA 1st level, CHI, DEN, SEA, PORT 2nd level, etc. etcl) no matter what the cost is. You can tell an unemployed vegan hipster that the redneck farmer who really knows about veggies is making far more money, but the hipster still won’t give up on the brainwashing/dream (whatever it really is).
What might happen is demographics in the burbs getting so bad, that all white people flee to either the GZ or the ex-urbs, because they have no other choices left.
“Not to jump on the bandwagon but…. you guys in your 20s and early 30s make fun of the suburbs/ex-burbs but when you realize that you can barely get a 2/2 in a so-so location in chicago, you will soon change your tune when you properties like this out there:
http://www.redfin.com/IL/St-Charles/3307-Greenwood-Ln-60175/home/16992290
(and many many better deals). This is what happens with every generation. Big heads meet small wallets – this translates to sacrifice and the move to the suburbs – but you guys will see that it is not all that bad.”
“Bob, when in the past 100 years has the dollar not been debased? When was the last time a crisis occurred the Fed did not accommodate with monetary policy? How was this not an option?”
versus,
dollar-carry trade which could end any moment now and send interest rates LOWER:
“The inflation in raw goods and commodities is 2008 redux; it has all happened before and it will all happen again. Just as oil dropped to 33$ a barrel from $140, commodities will soon drop again; and the cycle will continue.”
Man Dan, do you always have to use condescending terms to describe people? It is not nice to call people rednecks you know. Cannot you just say farmer? It still conveys your message.
miumiu, you missed the subtlety…I should have put it in quotes, as it was meant to stand out in contrast to the unemployed urban hipster vegan, who (my point was) condescendingly looks down upon the rural “hick” person who ironically makes more money and knows more about vegetables! Never mind…..
By the way, I let your condescending comment go, in the interests of not getting personal. But can’t you see how offensive this is to Americans:
“I checked the websites in my area and you should see the people I find. They are all nice people of course but so not my idea of a nanny and definitely no Europeans or Asians. One of the ladies, I interviewed was bragging about her marshmallow chocolate brownies and how the kids she looked after loved them and the mom had to learn her recipe to make it for them for breakfast!”
Why do you people, and so many come to our country then, if you know so much better than Americans? Why are there still so many that come here illegally? Why is your home country a hellhole? Stop bashing white-America, it’s the main reason people come here, the stability it offers and the values they stand for.
“Clio you still act like you’re three years old…”
He’s an uber-troll with the emotional maturity of a middle schooler. I can’t imagine what it would be like to have to actually work with him.
“It’s also good for immune systems and socialization. ”
It’s definitely good for their immune systems and socialization for sure. It might not be optimal for the parents immune systems. IE: if one parent has a very high powered career they can’t afford to miss work with. Most parents would likely not consider this an issue but it definitely increases your exposure to sickness during this time frame. It’s going to happen with kindergarten anyway though.
“Why do you people, and so many come to our country then, if you know so much better than Americans? Why are there still so many that come here illegally? Why is your home country a hellhole? Stop bashing white-America, it’s the main reason people come here, the stability it offers and the values they stand for.”
Be a little smarter in your white racist anger Dan; mm was (I’m almost certain) subtly saying that everyone she’d interviewed was chicano/latino or black.
miumiu: maybe you need to expand your social circle. I know a few polish ladies in their 20s that would probably work for $10-15/hr.
small midwestern town, bashing marshmallow chocolate brownies……when I expose anti-white racist views, it’s often taken hysterically oppositely, as you’ve reflexively done here as well because people are so used to getting away with bashing the American norms, etc……we’ll see what she meant. Personally, I think having a white, midwestern woman who speaks English and wants to make brownies for the kids is an ideal situation in America. I guess I’m the person who’s nuts, but most of the world that would rather be here, than where they are, agrees with me.
“I don’t live in Chicago though, we only are there in weekends (I have not been for the last two though because of work). I live in a small town and man it is hard to find people like you in my midwestern town…sigh…”
She doesn’t live in Chicago, she lives in a midwestern town where there no Asian or European nannies, and probably no nannies-of-color either, so she’s stuck with the bottom of the barrel: the white-American
That’s how F’ed up this country has become, and how deranged the thinking is of the so-called wannabes, liberals, fools, etc.. It’s ridiculous.
I thank Alejandro González Iñárritu for making the movie Babel, and showing the nanny situation for what it is. No liberal American would have the guts or the common sense to show it.
I’m no PC-ninny, but it bears noting that it was the Americans of European stock who took it upon themselves to create a two-tiered social system defined by color.
Hardly accurate for descendants of those white folks to pretend otherwise, IMO.
“She doesn’t live in Chicago, she lives in a midwestern town where there no Asian or European nannies, and probably no nannies-of-color either, so she’s stuck with the bottom of the barrel: the white-American”
Actually those of us who are actually European (rather than those who claim to be Irish or Italian or Scandinavian yet couldn’t point to any of those places on a map, let alone having been born or raised in any of those places) use the terms European and Asian to mean people actually from Europe or Asia, rather than simply as an indication of skin color. Since Miumiu wanted someone who could speak a second language it’s not too much of a stretch that she would search for an immigrant from one of these continents.
It’s taken 40 years to turn this upside down, where today a miumiu or “urbane” type would rather have ANYONE as a nanny than an American of European stock. That’s where we’re at with the 40 year brainwashing…people have been taught to leave their kids, and then to leave them in the care of practically uneducated and illiterate third world foreign-born nannies, with God-knows what kind of extended family members at their homes, just so they can pick up a few words of non-Castillian Spanglish. That’s why that scene in Babel should be required viewing for yuppie and hipster parents.
Miumiu —
You are wise to look into paying your nanny above board. There are some practical reasons for this, including:
1. She (or he) accrues social security benefits.
2. Documented income is helpful for things like car loans, etc.
3. Workers compensation insurance is not compatible with an illegal employee, and you want workers compensation insurance.
4. Unemployment insurance applies if you no longer need your nanny and terminate employment (another benefit).
IL UI is 5.4% for a first time employer on the first 12,740 in wages. FED UI is minimal at 0.8% on the first 7,000. OASDI is 7.65% on top of the employee piece.
If you are comparing cash under the table to gross, you need to figure employees OASDI (5.65% this year, thanks O), state taxes (5% this year — boo on Quinn) and federal taxes (tricky but 10% is a good benchmark depending on tax scenario). The cost to you spread is usually 30%.
The filing requirements are easy — federal goes on form 1040 H and IL state goes on UI-WIT. You need to create a W2 and W3 which can be done online. And yes, you need an FEIN.
The breedloves of the world are a ripoff — the fed and IL have deliberately made it very easy to file at the same time as your taxes are due which you can elect to do vs. quarterly filings.
Is it more expensive? Yeah. But your employer has to do the same thing for you — so think about that next time you think about how much you get paid. And why would you treat a nanny any differently?
jennifer: you’re being a little haughty. More Europeans move here and become white-Americans, than white-Americans move to Europe and become Europeans.
“Actually those of us who are actually European (rather than those who claim to be Irish or Italian or Scandinavian yet couldn’t point to any of those places on a map, let alone having been born or raised in any of those places)”
Jennifer, I defy you to show me one Chicagoan with a “Mc” or “O'” in front of their last name who can’t find Ireland on a map.
Dan, it’s not brainwashing, it’s a backlash, and an understandable one. Did Jewish people simply go “oops, Holocaust is over, let’s just say mistakes were made and all move on?”
of course not. why would we expect people who had been legally discriminated against for centuries to simply stop at “thanks for not screwing us any longer”?
I’m one of the Gen Xers who got (relatively) integrated Chicago schooling, and I’m grateful for it. We had kids in my grade school who were refugees from Vietnam, kids from housing projects, and everyone in between.
I feel pity for people who grew up isolated from 3/4 of the earth’s inhabitants, there’s a wealth of culture & knowledge out there such people will never even begin to fathom.
“That’s where we’re at with the 40 year brainwashing…”
Some friends of mine are in a very yuppie area and they joke about how the rich yuppies have slaves to take care of their kids. Fresh off the boat immigrants from, as Dan described, third world countries.
No way in hell would I ever have that demographic looking after the most precious resource.
I would definitely consider an illegal immigrant from a European country. Immigrants are just happy to be here and are willing to work for less. Also European women aren’t as brainwashed by the progressives as is the case in our school system here. They are taught to embrace their nature not deny it.
Generally eastern european women are more pleasant to be around than white american women. White american women are brainwashed that they have something to prove to society so frequently go against their natural gender role, many also have an entitlement attitude.
“Just as oil dropped to 33$ a barrel from $140, commodities will soon drop again; and the cycle will continue.”
It only took the practical collapse of the U.S. financial system to cause this, saved only by massive and unprecedented intervention by our central bank. Chances of that event happening again?
“I feel pity for people who grew up isolated from 3/4 of the earth’s inhabitants, there’s a wealth of culture & knowledge out there such people will never even begin to fathom.”
That’s ridiculous. If our best & brightest spent 3/4 of their time with 3/4 of the earth’s inhabitants, nothing would ever get done. There would be no space shuttles, concert violinists, computer scientists, etc. Hell, most parents don’t even want their kids spending time around midwestern white-Americans lest they fall behind, but spending time with 3/4 of the world’s inhabitants, many of whom are illiterate and have less than $3 per day is time better spent? You’ve been brainwashed. Sadly, many have drank the kool-aid and that’s why we aren’t producing first world achievements anymore, we’re as Ze likes to say, reverting to the mean.
“Dan, it’s not brainwashing, it’s a backlash, and an understandable one. Did Jewish people simply go “oops, Holocaust is over, let’s just say mistakes were made and all move on?””
I don’t believe in any sort of inter-generational culpability for “sins of the past”. Instead this backlash is nothing more than people trying to vote themselves goodies at the expense of a true meritocracy. They were against racism when it was against them but they seem to be for it when it benefits them. I don’t see any moral high-ground with such people whatsoever.
“I feel pity for people who grew up isolated from 3/4 of the earth’s inhabitants”
Being isolated from a lot of the Earth’s inhabitants can actually be a good thing. Not all people are created equal–there I said it. It’s the truth and the same genetic principles that apply to animals apply to humans, sorry to say. We’re not exception and our DNA is made up of the same base pairs of any other animal.
I tell you whom I pity: the white people remaining in South Africa or Zimbabwe. The UN came to the aid of Robert Mugabge over those racist! Rhodesians..how well did that work out for everyone there?
“Jennifer, I defy you to show me one Chicagoan with a “Mc” or “O’” in front of their last name who can’t find Ireland on a map.”
Skeptic, I get to ask after they had how many drinks? Say, their 9th of the day or 11am whichever comes first?
🙂
“Sadly, many have drank the kool-aid and that’s why we aren’t producing first world achievements anymore, we’re as Ze likes to say, reverting to the mean.”
They (progressives) are indirectly responsible for murder, pestilence and famine. They have so much blood on their hands for supporting the doctrine of political correctness over all else they should be brought up on charges.
Just look at the rampant starvation going on in Zimbabwe. But it’s okay because their dictator looks like most of the natives and he wasn’t a racist! white caste that actually kept a semblance of civilization.
PS I mean skeptics attitude is a perfect example of the anti-white brainwashing. Gee, spending time at a Big Ten university like Purdue or Iowa is somehow a “less knowledgeable/cultural” existence or opportunity than hanging out with Vietnamese refugees, Hispanic nannies, or eating at ethnic places west of Western. Come on…..
Dan, nothing racist in hiring the Latina nanny, just experience. I mean they pop out 1 kid every 7 months and have no problem raising 6 or 7 at a time. For Maria, a perfect white child requires less energy than making a cup of coffee.
Skeptic I’ve met plenty of them. It took me a while in the beginning to realise that when people said they were Irish it wasn’t worth asking how long they’ve been here. I’m all for embracing your heritage, but say you have Irish ancestors, don’t say you’re Irish if you don’t have an Irish passport!
“Just look at the rampant starvation going on in Zimbabwe. But it’s okay because their dictator looks like most of the natives and he wasn’t a racist! white caste that actually kept a semblance of civilization.”
Yeah, that grotesque fool Bono and his crowd.
“At the height of segregation and apartheid under Hendrik Verwoerd, South Africa was almost as peaceful as Switzerland but she was immoral. Today we are the apotheosis of racial morality and political correctness, yet as violent as the Congo or Liberia.”
Same goes for the trends in the USA. Someone bring back Booker T. Washington, and ditch Obama and MLK, the results would’ve been better for everyone involved.
Popping out kids every 7 months? That’s impressive considering it takes almost 10 months to grow one!
Dan: in terms of his education I think it is invaluable insofar as having one’s worldview tempered with experience and not the PC propaganda that comes out of our school system.
There weren’t many of a certain demographic in my highschool so when I first moved to the south side of Chicago I was curious why the Church’s chicken had no indoor seating and you had to order through bulletproof glass. I was similarly perplexed why at the gas station after dark I had to tell the clerk what I wanted from the mini mart and he would go retrieve it, and pass it under bulletproof glass. I knew several classmates who were robbed at gunpoint. A few years later a doctoral was shot dead right near where I used to live.
In highschool and even university we were constantly told they were just like us. I was curious and decided to do some research on the topic and found out that no, most aren’t.
“Popping out kids every 7 months? That’s impressive considering it takes almost 10 months to grow one!”
Small people, 7 months!
Actually everyone I interviewed was white except one Mexican lady who is the one I liked the best (She really speaks Spanish as opposed to claiming it). I could not care less about race. I just couldn’t find that many people who had kids and were willing to become nannies. Most of the pool was composed of younger women who did not have experience with infants and in fact did not want to be nannies to very young kids themselves. As for the marshmallow comment, I just don’t like feeding junk to my kids. I also said that I want someone who speaks at least one foreign language. Most Europeans and Asians living here speak at least one other language except English. Why is my comment condescending is beyond me. Dan, what you don’t understand it that it is ok to have merit criterion, what is not ok is to have racial, religious, or gender biases. I am even ok with having a male nanny but I could not find one that met my criteria.
“Skeptic I’ve met plenty of them. It took me a while in the beginning to realise that when people said they were Irish it wasn’t worth asking how long they’ve been here. I’m all for embracing your heritage, but say you have Irish ancestors, don’t say you’re Irish if you don’t have an Irish passport!”
Culture is a very tricky subject for white Americans. There isn’t too much they can say regarding their culture or embracing it without being called the R word. So many cling to their ancestry.
Me? I like being called the R word, because almost universally it is being used beyond it’s dictionary definition and to put white Americans on the defensive.
Then I start to bring up various statistics that show that one demographic seems to have problems with civilization and they call me the R word again and I have to inform them facts can’t be inherently the r-word.
Skeptic BTW if you so embrace other cultures like you claim you can get some fantastic deals on some real estate in the south side.
JMM:
Remember oil in the ‘teens in 1998? And most of the 1990’s too? Did the financial collapse occur during the 1990’s too? you know not of what speak.
“#JMM on April 12th, 2011 at 12:55 pm
“Just as oil dropped to 33$ a barrel from $140, commodities will soon drop again; and the cycle will continue.”
It only took the practical collapse of the U.S. financial system to cause this, saved only by massive and unprecedented intervention by our central bank. Chances of that event happening again?”
“Popping out kids every 7 months? That’s impressive considering it takes almost 10 months to grow one!”
Just what I want teaching my kids, a person here illegally with 4 illegitimate kids fathered by some uncle or cousin. Oh, but they can teach my kid how to say some Spanish words, how great! Yeah, turning the tables: How many of these people can even find Madrid on a map? or know how to spell it? idiots….at least the midwestern-brownie-lady has morals and an education.
“Dan, what you don’t understand it that it is ok to have merit criterion, what is not ok is to have racial, religious, or gender biases. ”
Okay is a moral judgment. It may not be legal per the civil rights act but then again most nannys work under the table and that’s a much easier crime to prove than the biases you mentioned.
“Culture is a very tricky subject for white Americans. There isn’t too much they can say regarding their culture or embracing it without being called the R word. So many cling to their ancestry.”
Yeah somehow I get the feeling if these guys told Jennifer they “we’re white” she’d like that even less than saying “irish”!
I call a European someone who was born and raised in Europe and can speak the language so Jennifer is right. In fact, someone who eats deep dish Pizza (as wonderful it might be) and thinks that is actually Pizza is not an Italian in my book.
If you cannot speak the language of a country, understand their culture, taste and so on, you cannot claim to be from there. You can claim to have heritage but that is about it.
BTW, we started with this search criteria and I will of course relax it if I cannot find someone who meets it.
“jennifer: you’re being a little haughty. More Europeans move here and become white-Americans, than white-Americans move to Europe and become Europeans.”
“I am even ok with having a male nanny….”
OK, who believes this? LOL!
Thanks fot the informative post JMM. I don’t like employing people without them having health insurance. It is against everything I believe in.
“Yeah somehow I get the feeling if these guys told Jennifer they “we’re white” she’d like that even less than saying “irish”!”
OK…
“Yeah somehow I get the feeling if these guys told Jennifer they “we’re white” she’d like that even less than saying “irish”!”
Let’s turn the ridiculous political correctness on them. White is a pejorative term to me as is “Caucasian” (I’m not from the Caucasus mountains).
I’m a “European American”. 😀
i always thought being called a ‘cracker’ was hilarious. Let’s use cracker from now on.
you know what’s also fun to do with obese white people. Put them in the sun for a few hours and watch them turn into tomatoes.
It’s funny I’ve never really heard European Americans offended by that term but it seems many African Americans believe they are entitled to act like a fool when they hear a corresponding pejorative term used to describe their race. I wonder why that is?
We call it the c-out button, Dan. You can figure out what that stands for 😀
Actually Bob it is a much better description. When I first came here, people would tell me they are Irish and I would ask which part of Ireland they are from and when did they move to US. Then I realized it meant some grand daddy came over and the person have never even set foot in Ireland.
Ze, that is very mean. People have different sun tolerance. It sucks to get sun burn. How can you make fun of that.
miumiu,
Here on the beach, they have these very modern posts telling you weather, water, surf conditions. One part has 4 different spf factors ranging on whether you are blond, light mix brown, dark mix brown, or negro (not a bad word here).
That would never fly in the U.S.
Oh and if you take anything I said above serious I am in shock. I turn into a tomato too.
Negro isn’t technically a bad word here either but Americans most are too stupid to discern between a pejorative term and an obsolete term.
First it was colored, then negro for the polite terminology. Then idiots like Malcolm X were offended and wanted black. Then that was offensive. Now it’s African-American which is funny, because it assumes you and they both know their ancestral origin was in Africa and that they are U.S. citizens. This needn’t be the case and often isn’t.
Now I laugh when some stupid reporter refers, in a faux paus, to Haitians or Africans in some conflict as African-Americans. Newsmedia people can be so stupid.
“No, I said in April of ‘09 that I thought it was a good time to go long commodities. ”
The recovery is, for the most part, derailed. Not sure what impact this will have on commodities.
http://www.calculatedriskblog.com/2011/04/here-come-downgrades-for-q1-gdp-growth.html
The U.S. economy only grew 1.5% in Q1 and that was before higher oil prices. We still have a 1.5T deficit–so is the Fed just going to keep printing? QE3.0? QE95/98/NT?
It’s not looking too good for the US or really any country these days.
Bob: Everybody knows that QE7 is the best most stable version of QE yet. if you want to go wayback then QE 2000 was the best…wait, are we talking about microsoft windows here?
Only way to get a good Nanny is to check their references. I’ve interviewed plenty and they looked good and then went to call their previous families and they got bad recommendations.
And Im 2nd Generation American but whenever someone asks what Nationality I am I say AMERICAN!! Proud AMERICAN!!!
Oh yeah and my parents didn’t speak German at home to us kids. English was the only language allowed in the house.
“Bob: Everybody knows that QE7 is the best most stable version of QE yet.”
Ze is talking up commodities but I trust uncle GS better.
http://business.financialpost.com/2011/04/12/goldman-rocks-oil-for-second-day-sees-105-brent/
This speculation crap has been happening with increased frequency over the past few years. Yeah I get that China and India are coming online with cars BUT their demand for petrol has to be far more elastic. We probably had our summer oil bubble a little early this year.
“Oh yeah and my parents didn’t speak German at home to us kids. English was the only language allowed in the house.”
One day you’ll wish they did. I know some people in Central Texas who see the writing on the wall, started their kids in German lessons, and then moved the family there. Germany is a damn nice place, still First World. Ask some Polish people here, they’ll tell you too.
“Actually Bob it is a much better description. When I first came here, people would tell me they are Irish and I would ask which part of Ireland they are from and when did they move to US. Then I realized it meant some grand daddy came over and the person have never even set foot in Ireland.”
You tell someone you are Irish at selected CC’s on the north shore and they show you the door. Lol.
no irish need apply
Couldn’t you then argue that Mexicans are also European Americans then?
@JMM, lol, I love the Irish, they have great sense of humor and they are so much fun to watch matches with.
@Lunker, it is great to be proud of your country as it is clearly one of the best places in the world to live, hence all the immigration. But I think it is great to know any language as it opens a new world for you. I am not sure why your parents would do that. You would have learnt English from our friends, school and media any ways and with perfect accent rather than your parents version so not sure if I agree with that.
I am actually raised bilingual and I think it is a great thing. It made learning other languages later on so much easier for me. I think there is even research to support that.
When I was younger, I really disliked religious education classes and used to not listen or study for it. My mom told me if you want to debate against something, you should give it a fair chance and really know what it is all about, so I started paying attention and learning more and it gave me a much more balanced perspective and ability to actually participate in logical debated about the subjects rather than ranting.
That was about a topic which I thought was pretty much useless, why would parents deny the chance for their child to learn a language is beyond me.
Language “evolves.” Example: what many parents now call “nannies” are what previous generations would call “maids.” (Actually “nanny” is British slang for “nursemaid” or “nurserymaid.”)
I can remember when the “best” child-care assistant a mother (and well-heeled father) could hire was an actual NURSE, usually a retired or semi-retired maternity or pediatric RN or LPN. Are they still arond?
I am sure some people have nurses or high-end nannies, but I would think they are much more expensive. I for one cannot afford someone with 4K salary for instance which one of my friends has.
“You tell someone you are Irish at selected CC’s on the north shore and they show you the door. Lol.”
yeah, yeah….that’s not true at all. You’re talking about Jews. Get real.
He’s talking about anglo saxons showing the door to celts. Why do you think everything has to revolve around Jews?
“Language “evolves.” Example: what many parents now call “nannies” are what previous generations would call “maids.” (Actually “nanny” is British slang for “nursemaid” or “nurserymaid.”)”
It hasn’t nearly evolved at the pace what “European Americans” use as the preferred nomenclature for “African Americans”. Precisely why I like to throw negro out there every now and again (so long as not around a girl trying to impress). Many people in “polite” company consider me “racist” and I laugh at them because they are stupid.
and those evangelicals love us Heebs too, we fulfill their prophecy, they accept jesus was a jew….. I mean talk about Zionists…. Sheesh!
All of Dans heroes are Hebrews…lol
Reduced to $474,500. Probably in response to this listed for $469,000 a few homes down the block.
http://www.redfin.com/IL/Chicago/3732-N-Lowell-Ave-60641/home/13459167
“Bob on April 11th, 2011 at 1:22 pm
I think 450k definitely moves it. I think it will sell at 475-480k though only due to lack of supply of this quality.
I almost feel dumb for justifying the crazy appreciation since 2000 but it’s true Chicago housing stock is largely dilapidated garbage so when something nice like this comes on the market it tends to do well.”
Under contract.
hey chukie:
go F yourself
SOLD at $455,000 earlier this week.
“homedelete on April 11th, 2011 at 1:54 pm
Hell a house with no garage similar to this sold a few days ago for 480 on kostner this house is much nicer than that house. MG can get his clients to price to sell.
I say this will sell at 450 on the way down, once price reduction to 485 and an accepted offer in the 450k – 460k range. Similar homes might be in the low 400’s by this time next year! This is great news!”
Executed Recorded Document Type Amount
07/06/2011 08/01/2011 MORTGAGE $409,500.00
Sorry for the harsh word above chuk: I called this house price to a ‘T’ and the mortgage is a 90% financing on nearly a half a million dollar property. I could do this; easily, I have the income, the downpayment; I don’t however have the stomach for a $2,500 mortgage payment amortized over 30 years. That’s nearly $300,000 in interest over 30 years.
I was going to do an update on this house HD but since you’re already discussing its sales price- I won’t.
Are you really surprised that this sold fairly quickly and for the price it did? Old Irving Park is still desirable and there really isn’t much on the market there right now (that is in this price range and that is fairly updated.)
Lots of people have no trouble with putting hardly any money down on a half a million dollar asset. You are at a disadvantage when buying HD- because you DO have a problem doing it.
“You are at a disadvantage when buying HD- because you DO have a problem doing it.”
Absolutely I am at a disadvantage because in order to compete with this buyer.
This is why I called the bottom. Prices will be based upon incomes and 10% or 5% down payments for those with good credit. They’re not based upon 20% down payments and comparables, its only a step or two better than ‘ how much a month’ from 2006.
“I was going to do an update on this house HD but since you’re already discussing its sales price- I won’t. ”
Really? Because someone posts a link to a property or an update on the previous thread you won’t give it it’s own post? So we have to suffer through other cookie cutter condos in the green zone instead?
I agree with Icarus. Nobody after 2:00 am. is going even see that this thread had new comments.
I did call it to a ‘T’ though – between $450 and $460 and it sold for $455. I was pissed at chuk for telling me that most of my price predictions were wrong. and then he challenged me to show him when I was right. and I pulled this one up.
Icarus- this IS the house he’s referring to. We’re already discussing its sales price. So I don’t see the point in doing another post saying it sold for $455k when we’ve already discussed it on this thread.
Sabrina– your website doesn’t have all the latest and greatest bells and whistles of other blogs. The search engine is anything but robust so unless someone is tracking back to this specific post or they happen to notice an update at the top-right of the page…they will miss it.
All i’m saying is that you average 4 posts a day. you can easily add a 5th to cover this one without compromising the 2/1 condos in Lakeview or LP.
“All i’m saying is that you average 4 posts a day. you can easily add a 5th to cover this one without compromising the 2/1 condos in Lakeview or LP.”
Actually, I average 3 posts a day. The only reason I have been doing 4 posts is because there have been sales of quite a few of the properties we’ve chattered about in the last 12 months.
The posts on the “sold” properties are, frankly, pretty boring for most people. They like to see what things sold for- but unless it was a controversial property in some way (or a short sale or something where people were really guessing what it would sell for)- then that is where the discussion on those sold properties ends. So I added a fourth post to make sure I covered some of the closing prices on some of the properties.
And yes, doing a 5th post is very time consuming for me and not something I would like to undertake at nearly midnight on a Thursday.
If people are really interested in the Old Irving Park neighborhood and they come to Crib Chatter, they will look at all the posts in that neighborhood on the links. So they won’t really “miss” it.
Man, looking back at the clio/hd exchange from just a few months ago. How things have changed!
“And yes, doing a 5th post is very time consuming for me and not something I would like to undertake at nearly midnight on a Thursday.”
why is it time consuming? what is involved with these posts that we do not get to see?
“why is it time consuming? what is involved with these posts that we do not get to see?”
Really?
Do you think all the data and information in the posts just appears out of thin air? That the pictures of the properties just appears in my in-box for me to use freely? That I don’t have to respond to e-mail and delete comments when people say crazy things? Really?
You have no idea.
Doing 4 posts is hard enough but I’m doing it because I want people to see what some of these properties are selling for (especially the ones which created a lot of chatter.) I don’t even have the time to get to all the properties that sell (though I try to cover most of them.) Hopefully soon I’ll be able to go back to mainly doing 3 posts a day again (once this “buying” season is over.)
I humbly suggest open threads each Friday where people can post questions about whichever properties they like and have the Cribchatter commentariat explain why they should not buy the property.
Icarus’ issue goes back to my (possibly technically challenging) suggestion for a “posts with new comments in the last X (I’d want at least 24) hours” sidebar section.
you realize this is a free platform. I wonder what would you request if you were paying.
“you realize this is a free platform. I wonder what would you request if you were paying.”
Is asking for a fairly basic feature that outrageous? And maybe some of these requests aren’t even hard, but maybe Sabrina doesn’t know they are desired.
“That the pictures of the properties just appears in my in-box for me to use freely?”
You could crowdsource that. I share anon’s suggestion/request if reasonably feasible.
“I humbly suggest open threads each Friday where people can post questions about whichever properties they like and have the Cribchatter commentariat explain why they should not buy the property.”
Anyone can e-mail me about a property (at any time) and usually I will put up a post about it. But people don’t bother to do so- and then just post random links in other posts and get frustrated that no one is discussing “their” property.
The random links don’t work too well in bringing up discussions because, frankly, people want to see pictures, data, what it last sold for, what the price history is etc. Not everyone has a redfin registration (or whatever other source they are using to see the property’s history.) And redfin isn’t correct about 20% of the time anyway (through no fault of their own due to the wrong PIN etc.)
So it doesn’t really go anywhere when you just say “how about this property on Rockwell?”
I want 20 properties a day, an IRC chatroom, HD pictures (and videos!), a mobile site; an extensive search function; real time price change updates, mortgage information, links to similar properties, suburbs, exurbs and rural areas included too. I also want a point system where the more you post, the more points you get redeemable for free shit. I’d also likely polls with every property for price; and I want someone to tabulate and keep track of the mean, median and mode of those figures along with a high score board. A private torrent share network would be cool too. I’d also like some game like farmville or something on the right hand side of my screen, it’s so empty over there. Oh, I don’t want to register either and I want it all for free. Is this too much to ask? Really? Is this too much to ask?
“You could crowdsource that.”
Really? And that would be easier for me (both legally and otherwise)?
I doubt it.
“Oh, I don’t want to register either and I want it all for free. Is this too much to ask? Really? Is this too much to ask?”
ha! ha! Thank you HD.
But in all seriousness, I will be doing a site redesign this fall. If you have features that you want incorporated please let me know. I won’t be able to do them all- but we all know the limitations of the site as it is right now.
I want to make it easier for everyone to find the information they want and to participate in the discussion.
” If you have features that you want incorporated please let me know.”
could we have a special tab to read Ze’s posts? It is my husband and I’s poor man’s comedy central : )
But seriously, an ignore bottom can help so people just stop reading posts from posters they don’y like instead of bickering about it all the time : )
Only feature I care about is the “old posts with new comments” list. If it were totally up to me, there would be a seven day lookback, divided by days (link for each day to a list of posts with comments made that day).
Oh, and a category for “previously featured and sold” which would encompass those 4th posts; and a related suggestion that instead of comments on a new post for the sold props, that the comments go back on the prior post, rather than having a new comment thread.
Really?
Do you think all the data and information in the posts just appears out of thin air? That the pictures of the properties just appears in my in-box for me to use freely? That I don’t have to respond to e-mail and delete comments when people say crazy things? Really?
“You have no idea. ”
Nope that’s why I asked a straightforward and simple question.
“Doing 4 posts is hard enough but I’m doing it because I want people to see what some of these properties are selling for (especially the ones which created a lot of chatter.) I don’t even have the time to get to all the properties that sell (though I try to cover most of them.) Hopefully soon I’ll be able to go back to mainly doing 3 posts a day again (once this “buying” season is over.)”
That’s for new listings correct? Is there much additional work involved with updating previous featured posts when a property sells?