Tuesday, July 18, 2006

Condo Rant

So, according to this little item, condominiums in San Diego are declining in value.

So, let me get this straight. You mean to tell me that, in a housing market that has tripled in value over the last decade, buying a condo that costs substantially more than a single family house and charges hefty monthly association fees was a bad business decision?

You mean, spending $775,000 on a 945 square-foot "loft-style" apartment, when thousands upon thousands of similar units are being contructed in the same market.. You mean to tell me this is, in fact, NOT a good idea?

So, and bare with me because I am completely and utterly confused. You are telling me that taking out a $4,800 per month mortgage, which consumes approximately 92% of my income, on the assumption that condo prices are going to escalate 30% per year in spite of spiraling interest rates represents naive thinking?

So, in summary. There is waning interest in paying $1,000,000 to live in a glorified shantytown with steel appliances? Huh. Well I'll be damned.

One thing is for sure, though... Demand for 3 bedroom cookie-cutter townhomes 45 minutes away from Minneapolis is going to stay hot. My 1,060 sq. ft., vinyl-covered pride and joy in Prior Lake was $319,000 well spent.

All those people buying spacious homes 2 miles from the city center? Idiots. I have two words for you. Black people. I've never met one, but I'm pretty sure I don't want to. I saw In Living Color. Oh, and enjoy mowing your own lawn. I pay $445 per month to have someone do that for me, thank you very much.

You can take your city living and squalor. I'll just be riding high on my strong decision making skills. Of course, the only decision I have to make now is which Don Pablos to go to. What, you don't have six of them within walking distance? Hmmmm... Too bad.

Suckers.

3 Comments:

Anonymous Roger said...

My house has just a little more square footage than yours, but I paid less than a quarter of what you paid.

Sucka.

6:41 PM  
Anonymous Sarah said...

You mean the thousands of dollars I tried to save by purchasing a 20 square foot particle board box (for $20,000) was probably not the best decision? I don't know about these "black people" you speak of, but thank goodness I picked up spanish.

NOw I can get my order right and converse with clientele in any restaurant within walking distance.

8:10 AM  
Anonymous peter said...

HAAAAAAAAAAAAAAAAHAHAHAHAHAHAHA!!!

Perfect.

11:27 AM  

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