Housing & economy doing great…shut down this site!

[(former)FormerSanDiegan]

Scruffy, where did you go?

Since scruffy knows that housing is doing great (well except for that record number of NODs and NOTs and that decade low in sales, and other stuff like that) scruffy must be out making real estate deals and getting rich. No time to play with the bears.

[cr]

Scruffydog epitomizes all that is wrong with the housing industry right now: blatant disregard for facts, baseless propaganda, and a high horse know-it-all mentality, convinced their comments can sway the “little people” into prolonging a completely temporary bubble.

One that likely gave them lifestyle they can’t afford either, at the expense of the unknowing and all-trusting victim of outright lies.

He’s only here to stir the pot, and if he really read what was on here by Rich and others who know what they are talking about, scruffy would probably shave and look for a career change.

Please note I’m not saying all in the industry are this way. I believe scruffydog typifies those afraid to face the music of their wrecklessness of the past several years.

[cr]

Scruffydog epitomizes all that is wrong with the housing industry right now: blatant disregard for facts, baseless propaganda, and a high horse know-it-all mentality, convinced their comments can sway the “little people” into prolonging a completely temporary bubble.

One that likely gave them lifestyle they can’t afford either, at the expense of the unknowing and all-trusting victim of outright lies.

He’s only here to stir the pot, and if he really read what was on here by Rich and others who know what they are talking about, scruffy would probably shave and look for a career change.

Please note I’m not saying all in the industry are this way. I believe scruffydog typifies those afraid to face the music of their wrecklessness of the past several years.

[scruffydog]

Hey I’m back!
Data hounds: look at the posts earlier in the thread.
Also here’s something from the LA Times today. Interesting quote and supports my earlier post on unemployment in 90s vs now.

http://www.latimes.com/business/la-fi-platinum7jul07,0,5564845.story?page=1&coll=la-home-business

The Platinum Triangle wasn’t always on fire. During Southern California’s real estate downturn in the 1990s, Beverly Hills was among the first neighborhoods to slump. From 1989 to 1993 prices declined 40%.

“The last time, the high end was leading the charge on the way down,” says G.U. Krueger, who in the 1990s was the chief economist for the California Assn. of Realtors. “Now things are totally different.”

Krueger notes that the 1990s drop was triggered by job losses amid a broad economic downturn. The current housing malaise is largely driven by an affordability crunch at the lower end of the market, he says, as adjustable-rate loans ratchet higher and lenders tighten standards to counter rising defaults on mortgages.

From LA land blog:
Odd Fact: For all the hype, real estate prices in the “Platinum Triangle” have not kept pace with the rest of L.A. Over the last nine years, median sales prices in the “triangle” are up 127%; prices for all of L.A. County are up 229%.

[scruffydog]

Hey I’m back!
Data hounds: look at the posts earlier in the thread.
Also here’s something from the LA Times today. Interesting quote and supports my earlier post on unemployment in 90s vs now.

http://www.latimes.com/business/la-fi-platinum7jul07,0,5564845.story?page=1&coll=la-home-business

The Platinum Triangle wasn’t always on fire. During Southern California’s real estate downturn in the 1990s, Beverly Hills was among the first neighborhoods to slump. From 1989 to 1993 prices declined 40%.

“The last time, the high end was leading the charge on the way down,” says G.U. Krueger, who in the 1990s was the chief economist for the California Assn. of Realtors. “Now things are totally different.”

Krueger notes that the 1990s drop was triggered by job losses amid a broad economic downturn. The current housing malaise is largely driven by an affordability crunch at the lower end of the market, he says, as adjustable-rate loans ratchet higher and lenders tighten standards to counter rising defaults on mortgages.

From LA land blog:
Odd Fact: For all the hype, real estate prices in the “Platinum Triangle” have not kept pace with the rest of L.A. Over the last nine years, median sales prices in the “triangle” are up 127%; prices for all of L.A. County are up 229%.

[JWM in SD]

Do I even need to comment on this? I sure hope somebody can take this up since I’ve been “moderated”.

[JWM in SD]

Do I even need to comment on this? I sure hope somebody can take this up since I’ve been “moderated”.

[admin]

The request was just to back off the name-calling and personal attacks… if you wish to address the substance of the arguments, please feel free. Thanks.

[admin]

The request was just to back off the name-calling and personal attacks… if you wish to address the substance of the arguments, please feel free. Thanks.

[4plexowner]

I’ve read scruffy’s latest post twice now and I can’t figure out what his intent is

The article seems to be saying that the super-rich aren’t affected by housing slumps – gee, no kidding?

Or that there are enclaves of super-expensive homes that won’t be affected by the current correction – darn, you mean I still won’t be able to afford that $40 mil mansion?

Is this your defense of the entire southern california real estate market, scruffy?

You have posted an article talking about houses that only the top 1 or 2% of Americans can afford – what about the rest of us?

[4plexowner]

I’ve read scruffy’s latest post twice now and I can’t figure out what his intent is

The article seems to be saying that the super-rich aren’t affected by housing slumps – gee, no kidding?

Or that there are enclaves of super-expensive homes that won’t be affected by the current correction – darn, you mean I still won’t be able to afford that $40 mil mansion?

Is this your defense of the entire southern california real estate market, scruffy?

You have posted an article talking about houses that only the top 1 or 2% of Americans can afford – what about the rest of us?

[NotCranky]

Excerpted from Scruffy’s posted link…. much of the nation — and the region — suffers through a real estate slump… home sales in Los Angeles County fell 19.1% through May, according to research firm DataQuick Information Systems.

I think we had better keep the site up and running in case that slump comes to San Diego county ;).

Goodbye Scruffy,

[NotCranky]

Excerpted from Scruffy’s posted link…. much of the nation — and the region — suffers through a real estate slump… home sales in Los Angeles County fell 19.1% through May, according to research firm DataQuick Information Systems.

I think we had better keep the site up and running in case that slump comes to San Diego county ;).

Goodbye Scruffy,

[San Diego Native]

This is truly an interesting thread!!

I work in the Film/TV industry, and choose to live in San Diego, and it’s true that within the ranks of the “uber-rich” (as referenced in the noted article) monetary concerns with regard to real estate purchases seem to be minimal, if not absent.

However, I’m not really certain how this applies to most people who are trying to decide whether or not they should invest in real estate–given the current financial environment.

Even those of us who have owned homes in San Diego (La Jolla) for years, and have excellent incomes would be foolish not observe the warning signs, and make our plans accordingly.

Just my thoughts. . .

[San Diego Native]

This is truly an interesting thread!!

I work in the Film/TV industry, and choose to live in San Diego, and it’s true that within the ranks of the “uber-rich” (as referenced in the noted article) monetary concerns with regard to real estate purchases seem to be minimal, if not absent.

However, I’m not really certain how this applies to most people who are trying to decide whether or not they should invest in real estate–given the current financial environment.

Even those of us who have owned homes in San Diego (La Jolla) for years, and have excellent incomes would be foolish not observe the warning signs, and make our plans accordingly.

Just my thoughts. . .

[Author]

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