CarmelV Cracksmokers…..We’re baaaack….

[The-Shoveler]

No I am assuming that they knew what was going to happen (if not planned).
And there was wiggle room, there is no wiggle room right now.

[spdrun]

I’ve actually been in the market and making money — let’s say that scalp-trading individual stocks on bad news whenever possible limits potential losses due to the entire market failing.

Fire in a 787 in some shitehole country in Africa? BA down a few %? Buy, let the sheeple take their losses. Fiery accident involving a Tesla S, TSLA down 5%? Buy, sell when the dumb sheep are done bleating. Accident on a Carnival Cruise ship…? If it bleeds, burns, or smells like raw sewage, it makes money once the idiots are done carping.

I go to bed every night praying for another “Lehman event” because it would be the buying opportunity of a lifetime. The ultimate opportunity to exploit a bunch of overreactive ninnies.

You’re assuming that the dot.com crash of early 2001, the 2008 crash, etc were truly preventable.

[spdrun]

There’s always the possibility of the unexpected. Say the US being drawn into another war, a quake hitting a populated part of CA, or China imploding, for example. There’s no one force that has unlimited control over markets.

It’s also interesting that real-estate markets are very local. Two years ago when San Diego was at its nadir, people were saying that the New Jersey market was improving. Well, two years later, foreclosures are finally being dumped onto the NJ market, keeping it low and probably allowing prices to drop this winter.

[The-Shoveler]

2008 could have turned out very different as well if they wanted it to.

[spdrun]

Well sure, but the relevant changes would have had to have been made in 2004-2005 at the very latest 🙂

[flyer]

We started investing in CV properties from the late 80’s on, and would never have believed prices would escalate as they have over the years. I don’t think it would have ever happened without QC.

As flu said, it’s great for current homeowners, but not great for those trying to get in or move up. It’s especially sad that most of the kids who have been raised in the area can never afford to live there when they grow up–should they want to. IMO, that will be true in most of San Diego in the future.

It’s been a very interesting ride, and it will be even more interesting to see how things go over the next many years.

[The-Shoveler]

For the most part it ended up being a classic pump and dump.

[spdrun]

Talking about “the kids” — keep in mind that a few decades ago when their parents moved to SD, a 1800 or even 2000+ sf house was NOT considered the norm for someone just starting a family.

2- or 3-bedroom homes for a price that can be supported on an income of say $100k/yr aren’t all that scarce in SD, you know.

And I also wonder whether areas like SE San Diego will gentrify if property prices hold (it’s near downtown, near a bunch of freeways, across the Coronado Bridge, what’s not to like location-wise?).

[The-Shoveler]

When most people I knew bought their first house it was a 40 year old beater/fixer 20 miles from the coast in a soso neighborhood and soso schools.

then they moved up if and when they could afford it.

they were working professionals with degrees starting out for the most part

[The-Shoveler]

[quote=flyer]We started investing in CV properties from the late 80’s on, and would never have believed prices would escalate as they have over the years. I don’t think it would have ever happened without QC.

[/quote]

Yea I would have to agree with this part, without QCOM and all the tag along wireless industry in that area CV would not have been anything like it is today.

It would still be an expensive area IMO but just not a ridiculously expensive one. 3000+sqf homes on 4000sfq lots etc… going for 1M+ (without Ocean views) and Condos going for 600-800K (without ocean views).
I must admit that to me seems ridiculously expensive.

[SK in CV]

[quote=The-Shoveler]
Yea I would have to agree with this part, without QCOM and all the tag along wireless industry in that area CV would not have been anything like it is today.

It would still be an expensive area IMO but just not a ridiculously expensive one. 3000+sqf homes on 4000sfq lots etc… going for 1M+ (without Ocean views) and Condos going for 600-800K (without ocean views).
I must admit that to me seems ridiculously expensive.[/quote]

I doubt that’s true. I lived there for almost 10 years. I met scores, maybe a couple hundred people. Never met anyone who worked at QCOM. I’m sure there are many. But not enough to have any significant effect on prices.

[flyer]

[quote=SK in CV][quote=The-Shoveler]
Yea I would have to agree with this part, without QCOM and all the tag along wireless industry in that area CV would not have been anything like it is today.

It would still be an expensive area IMO but just not a ridiculously expensive one. 3000+sqf homes on 4000sfq lots etc… going for 1M+ (without Ocean views) and Condos going for 600-800K (without ocean views).
I must admit that to me seems ridiculously expensive.[/quote]

I doubt that’s true. I lived there for almost 10 years. I met scores, maybe a couple hundred people. Never met anyone who worked at QCOM. I’m sure there are many. But not enough to have any significant effect on prices.[/quote]

Whatever the reason, owning property in CV has been a very interesting experience.

[spdrun]

Speaking to asset prices, it’s interesting this time around. Fed stands pat, NASDAQ -20, DOW -55 (was down as much as -105 earlier). Dollar up a bit, quite nicely. Looks like QE3 is losing its effect.

[Coronita]

[quote=spdrun]Speaking to asset prices, it’s interesting this time around. Fed stands pat, NASDAQ -20, DOW -55 (was down as much as -105 earlier). Dollar up a bit, quite nicely. Looks like QE3 is losing its effect.[/quote]

FB up $6 AH. heh heh.

[spdrun]

And by Fecesbook, you mean “the next MySpace?” Remember them? Advertising revenue is all well and good if people actually give a fuck about the ads (thus prompting more advertising), which I’m not convinced that FB users actually do. Seriously, I can’t remember the name of a single ad or “sponsored story” from my Fecesbook feed.

This being said, it’s a good stock to scalp-trade.

LinkedIn, on the other hand, is fucking flat after dropping 23.3% today(!). Might need to buy me some tomorrow — I love trading on bad/meh news.

[Author]

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