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bearishgurl.
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September 19, 2015 at 10:43 AM #789438September 19, 2015 at 11:41 AM #789439
mixxalot
ParticipantChinese are invading California and driving up real estate prices. Saw it in bay area, and Orange County now they are destroying San Diego with suitcases of cash. It is the corruption sewage from Red China.
September 19, 2015 at 12:48 PM #789440
CoronitaParticipant[quote=mixxalot]Chinese are invading California and driving up real estate prices. Saw it in bay area, and Orange County now they are destroying San Diego with suitcases of cash. It is the corruption sewage from Red China.[/quote]
Got envyfluenza?
September 19, 2015 at 12:50 PM #789441ParticipantNope I don’t just stating root cause of price bubble that is all. The Japs did the same thing in the 1980s and look how well that turned out.
September 19, 2015 at 1:30 PM #789442CoronitaParticipant[quote=mixxalot]Nope I don’t just stating root cause of price bubble that is all. The Japs did the same thing in the 1980s and look how well that turned out.[/quote]
So do you have the actual closing stats for all of san diego county to see what percentage of purchases are chinese from mainland china? I specially ask because, well for instance there are some chinese that are US citizens and/or naturalized citizen, that well are just like every domestic buyer, with the exception that they possibly manage their money better than the average person….And then, while visiting places like Encinitas, Carlsbad, Cardiff, RSF… I don’t see too many chinese buyers for those homes there. I think the bulk of those buyers are still, for the lack of the better word of describing people in general, white…
So, I’m curious what lead you to conclude that the reason why real estate prices are unaffordable is the fault of roughly 18-20% of all real estate purchases in CA that are that are buyers from mainland china? Could it be also possible that other people were luckier, didn’t go through a major layoff or financial crisis during these years, did ok with investments, had access to cheap borrowed money and were qualified to get those loans?
September 19, 2015 at 1:36 PM #789443CoronitaParticipant[quote=flu][quote=mixxalot]Chinese are invading California and driving up real estate prices. Saw it in bay area, and Orange County now they are destroying San Diego with suitcases of cash. It is the corruption sewage from Red China.[/quote]
Got envyfluenza?[/quote]
Must be all those anchor babies that Bush and Trump keep talking about 🙁
September 19, 2015 at 3:49 PM #789444flyer
ParticipantMany articles indicate that fewer and fewer of the native-born population are able to buy homes, so the influx of foreign funds in certain housing markets like CA may end up being a sustaining force for housing prices in those areas longer term.
That’s a good thing for those who already have property–but not great for those who don’t–especially not for young people who would like to buy in the areas in which they were raised. We bought property for our kids years ago, but it’s a different world today.
September 19, 2015 at 6:04 PM #789445utcsox
Participant[quote=Rich Toscano]Xbox, I find myself in agreement with you on most things, but I see this one a bit differently.
So far in 2015, San Diego has added 4,800 jobs per month on average. So even if 4k people get laid off from qcom, that’s less than 1 month’s job growth. And that assumes that none of these people will find other jobs in San Diego, which is of course not the case. Given the general state of the tech industry as I see it (which is: techies are in high demand), I would be surprised if even half of the people had to move out of town. Let’s say 40% have to leave — now we are down to about 1 week’s worth of San Diego job growth to replace those folks.
So I just don’t see this as being a big issue for San Diego housing as a whole. It’s a big city.
That said, I could see there being an impact in the surrounding areas that are popular among QCOMers. If enough people need to move, there could be a bit of a mini-glut in that area for a while. But I would view that more as an opportunity for people who are looking to buy in those areas — not as a game changer for the overall housing market.
Do you think I’m missing something?[/quote]
I think the analysis needs to factor in the desirability of areas that are popular among QCOMers. If the housing in these areas have characteristics that are extremely undesirable (i.e too much walls, lizards….) to most buyers, the mini-glut will put severe downward pressure to the housing prices.
September 19, 2015 at 6:54 PM #789446
Rich ToscanoKeymasterLizards???
September 19, 2015 at 7:46 PM #789447bearishgurl
Participant[quote=flyer]Many articles indicate that fewer and fewer of the native-born population are able to buy homes, so the influx of foreign funds in certain housing markets like CA may end up being a sustaining force for housing prices in those areas longer term.
That’s a good thing for those who already have property–but not great for those who don’t–especially not for young people who would like to buy in the areas in which they were raised. We bought property for our kids years ago, but it’s a different world today.[/quote]
flyer, that’s all well and good …. um, except that you have posted here several times that your kids are currently living and working in the LA area and SF bay area, respectively (as my kids are). How are your kids (theoretically) going to one day occupy a home (in SD County?) that you have “earmarked” for them if they are making a much better living elsewhere in the state??
Are your property “investments” actually spread thoughout the state, and if so, are your kids currently occupying them?
For the record, my kids (all SD natives) have (vociferously) stated that they will NOT return to SD for a job when they can make much more money elsewhere in the state. And frankly, I don’t blame them. If I was a freshly minted 22-year-old college graduate, I would NOT be here in SD, plain and simple.
H@ll, no …
September 19, 2015 at 10:09 PM #789449ParticipantTrue, BG. To answer your questions. Yes, we do have properties throughout the state and elsewhere. The kids have kept the properties we gave them, and they are now rentals, because each of them wanted to purchase homes in other locations. As your kids, their career interests have taken them elsewhere–but they do visit often:)
September 19, 2015 at 10:26 PM #789450an
Participant[quote=Rich Toscano]Lizards???[/quote]
Yep, the infestation kind. Even worse are the ones that love the unbearable heat.September 20, 2015 at 12:05 AM #789451paramount
ParticipantI’m glad I never stopped calling Jack Murphy Jack Murphy.
September 20, 2015 at 2:37 AM #789452CoronitaParticipant[quote=AN][quote=Rich Toscano]Lizards???[/quote]
Yep, the infestation kind. Even worse are the ones that love the unbearable heat.[/quote]In exploring Carlsbad, Encinitas, Cardiff, Solana Beach, I discovered the lizards are absolutely beautiful in these areas. Much more beautiful than the lizards that I could find in my backyard and your backyard. But the price of walls up there are also considerably much more expensive.
You know, to keep the wind and sand out.This is a freaking trip..
http://www.sdlookup.com/Pictures-150007635
http://www.sdlookup.com/MLS-150010383-1112_Neptune_Ave_Encinitas_CA_92024
http://www.sdlookup.com/Pictures-150048330
http://www.sdlookup.com/MLS-150035244-2150_Cambridge_Cardiff_CA_92007
http://www.sdlookup.com/Pictures-150037207I’m in the wrong profession…
September 20, 2015 at 7:26 AM #789453ParticipantI wonder why the “corruption sewage from Red China” are not destroying Carlsbad, Encinitas, Cardiff and Solana Beach with “suit of cash”. Can it be these beautiful lizards and the prices of walls are deterrents to them? Other cities in California shall take notes and learn from it to reduce the price bubble!!
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