What I Just Learned About Postdated Checks Remember last week when I shared how I was preparing for my extended tripincluding dropping off my rent check before departing?
Los Angeles is the most unaffordable place to rent with renters spending nearly 50 percent of their income on rents: San Francisco is the most expensive place to purchase a home.
When I made the claim that Los Angeles is the most unaffordable place in the nation to rent a few people shouted out by saying that San Francisco and New York were more expensive. What it means is that based on household incomes in Los Angeles and current rents, people spend a larger portion of their income on housing.
This is why Los Angeles is undergoing a rental Armageddon. The cheerleader brigade simply thinks that because rents have risen that somehow this equates to buying. The trend is clear in Los Angeles: Take your pick in this speculative market.
The most unaffordable rental market in the country Los Angeles is unique from San Francisco and New York in that we still have a market dominated by single family homes with yards.
This allows for people to live in sardine-like environments with streets looking like used car lots. Try pulling that off with a small apartment in New York.
The numbers are irrefutable. First, let us back up the statement with hard data: Los Angeles leads the way in being the most unaffordable rental market. Renting households the majority of households spend nearly 50 percent of their income on rents.
In San Francisco and New York while rents are higher, households also make higher incomes. You also see a big portion of buyers in some areas being foreigners, big investors, and the HGTV flipper crowd.
The most unaffordable place to buy a home is San Francisco. Let us look at how much home buyers spend on mortgage payments: The percent of income spent on a mortgage between and is represented in blue.
The red bars represent the current percent of income spent on mortgages. So much for the notion that these are households with so much disposable income that they can afford homes with no issue. These households, both renters and new buyers are maxed out.
Even the most expensive county in SoCal, Orange County is seeing a big rise in inventory: This is the highest level of inventory in many years. Are there homes that sell with feeding frenzies? But there were suckers in and that dove in at the peak. What surprises some people when they email me with questions about buying a home is that I usually tell them to go ahead if they meet the following 4 items: Will there be significant changes to income when you buy?
Like a kid on the way with mega daycare costs? Run the numbers with this in mind for the first item. Are you willing to stay in the place for at least 10 years? Do you have at least a 10 percent down payment ideally 20 percent and one year of expenses for an emergency fund?
Yet from the data above, you realize that people are pushing close to half of their income on rent or housing payments.
You also realize with the tiny slow down this year in prices that HGTV lusting buyers want to see non-stop appreciation year-over-year. They believe their own hype. They feel that home prices can only go up and when they account for a price correction, they only see a tiny change yet are totally okay with double-digit jumps for seemingly no logical reason aside from animal forces.
The numbers are clear and that is L. For many, they are simply squeezing every disposable penny they have into rents and mortgage payments. And this is during a record 6-year bull run in the stock market and another massive run in home values.Apr 12, · You can, but with the volume and automation of today's filings they will never notice it's post-dated, it will just be sent through like normal.
You either need to file an extension or at the least write a letter explaining the post-dated check, but then they will probably mail it Status: Resolved.
A: A post-dated check has a future date written on it. For instance, if you’re mailing your December rent check on Nov. 28 but won’t have the necessary funds until the first of the month, you.
Post Dated Checks – Present your landlord with 12 months worth of rent checks that are post dated. He can keep them in your file and pull them out and deposit them as each due date approaches.
He can keep them in your file and pull them out and deposit them as each due date approaches. 10 ways to make money on your land By Anita Evangelista: Issue # • July/August, Sep 07, - Find the perfect place to stay at an amazing price in countries.
Belong anywhere with Airbnb. If you do accept it, you should check with your bank to see if they can process the check before the date on the check. If the person who wrote the check has provided reasonable notice of postdating to their bank, however, you will not be able to cash the check early.