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gzz.
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March 19, 2020 at 11:47 PM #815792March 19, 2020 at 11:55 PM #815793
Anonymous
GuestActually mostly Mission Beach but your still making stuff up. If you don’t know the difference between that and Pacific beach it’s just one more example that you don’t know what you’re talking about. it is not well known that valuations in PV are based on short term rentals. You’re just wrong. Furthermore people will return to the beach as soon as the lockdown ends. Why wouldn’t they? You also have no idea how many of those properties are highly mortgaged. I have several friends who own properties down there or who have parents that do. Long time locals that have on these properties for decades free and clear.
Keep making stuff up. I just watched the former CEO of one of the larger casino operating companies in Vegas talking about the dire situation out there. your complete lack of respect for diversification is about to come home to roost. We will let Anxiously await your fictional updates so in the meantime why don’t you share some fictional photos of your picnicking.
March 20, 2020 at 10:34 AM #815813FlyerInHi
GuestHa! I said people who are long time owners with low leverage will be fine. Not so much for people with big mortgages who depend on short term rentals. You know, people in expensive markets who try to goose their returns with leverage.
I know very well the risks of investing. That’s why I always insist on knowing when recessions occur and buying as near the bottom as possible. You’re the one who ridiculed the idea of timing investments around recessions.
You’re not the boss and you don’t get to make demands. Why don’t you update us on your “friend” at the beach who’s charging $500 per night?
March 20, 2020 at 10:34 AM #815814GuestHa! I said people who are long time owners with low leverage will be fine. Not so much for people with big mortgages who depend on short term rentals. You know, people in expensive markets who try to goose their returns with leverage.
I know very well the risks of investing. That’s why I always insist on knowing when recessions occur and buying as near the bottom as possible. You’re the one who ridiculed the idea of timing investments around recessions.
You’re not the boss and you don’t get to make demands. Why don’t you update us on your “friend” at the beach who’s charging $500 per night?
March 20, 2020 at 10:44 AM #815817GuestNo you said “especially in PB” when you know absolutely nothing about it. Areas like the beach will eventually come back because they depend upon nothing but natural resources which aren’t going away. Areas like Las vegas will get crushed as they fall out of favor. Oh and my friend is doing just fine. He lives in a $3 million house that he paid 1 million for and it’s just about paid off. he has an amazing rental unit that he paid cash to build and while he may miss some rent in the short term it will come back and he’s just fine. Someday he will move into thatSmaller rental unit and rent out the main house but he’s under no pressure to do anything. Please keep us posted on your rentals performance and we anxiously await photos of your picnics
March 20, 2020 at 11:04 AM #815822GuestGood for your “friend” at the beach. I believe in mitigating risk and having low leverage. You’re the one who wants to use leverage to boost returns. And you’re the one who, barely weeks ago, ridiculed anticipating the current recession.
I never bragged about my returns, not in dollar terms or percentages. You’re the one who posted your own portfolio performance as “rebuttal” to a general market comment. Why don’t you give us another update, please.
March 20, 2020 at 3:37 PM #815858Guest[quote=FlyerInHi]Good for your “friend” at the beach. I believe in mitigating risk and having low leverage. You’re the one who wants to use leverage to boost returns. And you’re the one who, barely weeks ago, ridiculed anticipating the current recession.
I never bragged about my returns, not in dollar terms or percentages. You’re the one who posted your own portfolio performance as “rebuttal” to a general market comment. Why don’t you give us another update, please.[/quote]
100% wrong Brian. Weeks ago I wasn’t even posting here. Probably haven’t posted on this site in well over 10 years. I hope Rich Returns you rightfully to oblivion
March 24, 2020 at 12:10 PM #815949GuestThere is you bragging about your portfolio.
https://www.piggington.com/interest_rates_usa_v_other_advanced_economies
[quote=TheBrianNarrative][quote=spdrun]Oh my! The market is only down 9% since peak, not 12%. The real amusement will begin when profit numbers start feeling the pinch of disrupted supply chains, of people not flying, of people not going out as much… Give it a few months. The real fun will begin just in time for a long summer, and it will be fresh in people’s minds come November.[/quote]
Did someone say down?
[img_assist|nid=26972|title=Down?|desc=Down?|link=node|align=left|width=100|height=47]
[/quote]March 24, 2020 at 12:14 PM #815950GuestI’m not feeling confident about SD real estate right now.
The reason people are here is because of jobs. What happens when people realize they can work from home anywhere?
How much down at the next bottom? 20%? 40%?
March 24, 2020 at 12:59 PM #815951
CoronitaParticipantMarch 24, 2020 at 12:59 PM #815953GuestWell, it’s clear that certain markets will be affected more than others. But remember, those that fall most also recover stronger. The key is to identify the bottom.
Maybe the Coronavirus will show the potential of telecommuting and the Internet’s promise of location independence will finally come about.
March 24, 2020 at 1:49 PM #815956Guest[quote=Coronita]
https://www.latimes.com/world-nation/story/2020-03-24/coronavirus-las-vegas-nevada-economy-unemployment-casinos-hospitality
[/quote]Thanks for the link.
Interesting article. It shows what many parts of the economy and country had not fully recovered from the 2008 recession. Now this. Not good at all.March 25, 2020 at 12:22 PM #815979GuestI am now wondering if there will be another housing crash after the 2008 housing crash.
That would indeed be unprecedented to have back to back crashes of the same asset class.
How long are people’s memories?The Never-Ending Foreclosure
How can the country survive the next economic crash if millions of families still haven’t recovered from the last one?https://www.theatlantic.com/business/archive/2017/12/the-neverending-foreclosure/547181/
Some nine million families lost their homes to foreclosure or short sale between 2006 and 2014. But many lost more than that: They lost their momentum, too. Families like the Santillans had been moving up a ladder towards the American Dream, and fell off into a deep pit. They’re still at the bottom of the ladder a decade later, trying to get back to where they had been.
March 25, 2020 at 8:34 PM #815981pluto
ParticipantIts interesting to know what will happen. If we do print away, I dont know how we can avoid hyper inflation.
I do think that San Diego will be in a short term pinch. I see a lot of people moving out of SD. Tourism is the second largest industry locally. I dont see that rebounding fast enough to support rentals. I do see about half of the 12k Airbnb coming online for long term. Either way rents and the mortgage rates will pressure home prices to come inline with one another.
Rent wont be paid by most of the people. I think the May 31st will give people just enough time to move.
March 25, 2020 at 8:39 PM #815982ParticipantIt’s not, it’s being called housing bubble 2.0. Housing never fully corrected. It’s the debt bubble that re-inflated the housing bubble along with other assets that people use leverage for.
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