jg,
I hope you got the gist of my post last nite and suspect you are sharp enough to get it. The thought of being able to buy an 8000 sq ft ocean view home on an acre in LJ Farms for less than $2M sends goose bumps down my spine as I’m sure it does for you.
I see all the negative signs you do and am constantly amazed how we got here and how we have been able to stay here. It really defies any logic. On the otherhand, I am also amazed by the number of ordinary people I run into everyday who have accumulated significant wealth and liquid assets. For every wingnut living the high life with an Option ARM I see a high earning professional or business owner living well within their means. I look at Del Mar, where there are about 15 to 20 decent properties available under $2M each year and know that there are alot more people than that looking for one.
Comparing to life in the 20’s, I have nothing to support this but suspect that wealth is far more spread out than at that time when the only wealthy people were the industrialists. I dont know how this will play out and my crystal ball only extends out 6 months to 1 year at a time but whichever way it goes I hope you reach all your goals.
