Condo Time?

As the dollar weakens and oil prices continue to rise, I constantly find myself veering toward one asset class that seems incredibly undervalued, in high supply and with relatively low demand: real estate, and specifically a condo for myself.

Every month when I pay rent, I'm realizing I'm helping someone else grow equity in their real estate. My lease is up at the end of November. I haven't really been enjoying much of the facilities here nor the general upkeep of the common areas. Coupled with falling prices and the fact that I will be here for at least another 2 years, I think it would be a great time.

My only real concern is with the availability and cost of credit. While my parents are willing to help me out with the 20% down payment, I will still have to find me a lender and that will be tough.

However, if I can manage a rate of 6% or less, I should be able to purchase between $200-$250K condo at my current rent payments. What I'm hoping for is to low ball a $250K house for about $200K and then see it pop back to its true value within a year.

I'm going to start condo hunting soon.

Flying back

Man does it hurt to pay for internet in the airports. Of course, as an economist, I should have predicted the obvious heightened demand for internet in airports with the clear lack of supply as an obvious invitation to jack up prices. But still, $9.99 for access?

I pay maybe $40 a month at home while at the airport, its 25% of that for maybe 3-4 hours. What a great rip-off airports are pulling off, on top of the ridiculous airport fees they already charge.

But what choice do I have? I have to be here 2 hours earlier to pass security.

Oh well, at least I can log onto internet poker and try to win my money back.

PS - I'm up $10.10 and so net, I'm up 11 cents! Woo hoo.

In the Airport

Sitting here in the airport, waiting for my United flight, I have to admit I'm a bit anxious. Their pilot's union is in a very public battle to oust their CEO Glenn Tilton. In the meantime, United has instituted a multitude of nickle and dime efforts, starting with what is now an almost industry standard: charging for checked bags.

At the checkout counter, I encountered another money-generating scheme, paying for seats in the forward cabin that have a bit more foot room but still in the economy class. As more and more of these measures become instituted, I have to wander just how far will they go?

With justifications such as high fuel costs as a reason to charge for each checked bag, I'd expect people to be subject to the same rules. Thinner people will receive discounts while the bulkier will be levied surcharges. Maybe window shades will become metered, 25 cents per 5 minutes?

Airline travel isn't what it used to be. And I think it can really only get worse.

Networth Update

Well, July's networth update was a bit late, but only because I haven't had time until now to put it up.

The results are reminiscent of my 4th grade report cards: not good, but improving.

My networth is -$10,303.66 or a rise of $306.59 month over month. While brewing my own coffee has cut down quite a bit on my food expenses, my continued eating out and altogether enjoyment of the summer months is taking a toll.

In addition, the market has not been helping out much, with my investment accounts, 401(k) and restricted stock units either taking hits or stagnating.

Overall, I am still -1.03% away from my goal.

Blog posts are coming...

Just hang in there folks. I've got my end of July networth update along with 3 new trading strategies I've been working out.

However, with the hooplah of Olympics and my new-found exercise regiment, its been a bit tough to get to blogging before 1AM.

Come by tomorrow, and there'll be content!

PS - Michael Phelps is doing amazing.