Lucera Condo – $199k

[patientlywaiting]

sdnerd, you’re young so that’s why you think that way. You’ll learn in due course.

I love my fellow Piggs and I want everyone to be safe during the upcoming recession.

If I were you, sdnerd, I would look for a job with a real company with real income, positive cash flow and solid balance sheet.

Easily 1/2 of the tech companies in SD are speculative investments for the venture capitaliststs who funded them. They are hopping to flip in a buyout. Those companies are negative cash flows with hardly any real revenues.

What made the buyouts possibble since 1996? High stock values as currency, then, after 2001, easy money. One deal gone bad was Pfizer’s purchase of Agouron.

Those two factors that funded buyouts, are now gone. I see the vultures of the near future raiding companies for cash rather than vapor technology.

[patientlywaiting]

sdnerd, you’re young so that’s why you think that way. You’ll learn in due course.

I love my fellow Piggs and I want everyone to be safe during the upcoming recession.

If I were you, sdnerd, I would look for a job with a real company with real income, positive cash flow and solid balance sheet.

Easily 1/2 of the tech companies in SD are speculative investments for the venture capitaliststs who funded them. They are hopping to flip in a buyout. Those companies are negative cash flows with hardly any real revenues.

What made the buyouts possibble since 1996? High stock values as currency, then, after 2001, easy money. One deal gone bad was Pfizer’s purchase of Agouron.

Those two factors that funded buyouts, are now gone. I see the vultures of the near future raiding companies for cash rather than vapor technology.

[sdnerd]

Agree I am young; not much I can do to change that. Would actually prefer to stop aging, but suspect that’s out of my control. 🙂 But what exactly am I supposed to learn? Nobody can predict the future or how good or bad things will get.

Older generations have a higher tendency of doom & gloom based on past history. Understandable, and maybe that is what’s coming.

Both my wife and I are steadily employed and have been for a long time. Monthly expenses total about ~$2k. Household income between $150-200k/yr, last year significantly better. We’ve been stockpiling cash for a long time.

I also own a profitable side business, where I re-invest all the profits.

Company I work for can’t hire fast enough. I have job openings I can’t fill. Local companies poaching from us – job market is strong. There are a lot of people making a ton of money.

Apple iFund announcement the other day, $100 million VC fund despite all the bad market news.

5-6 years of musical chairs with housing, everyone left holding the bag gets creamed. Everyone else was making 20% profits.

So yes there are a lot of janitors out there who shouldn’t have bought houses and are going to lose them. And there are also a LOT of 20-30 year olds who’ve had 6 figure incomes the last 8 years and have been renting, living at home, or doing what I’ve done. Most of the ones I know want to buy, once the prices drop down.

So yes, absolutely everything could come crashing down. All the jobs could move out of San Diego, and housing could crash down to 30% of what it costs today. Or the US could have a complete financial collapse. Plenty of scenarios you could write up.

I don’t think San Diego will become a ghost town anytime soon.

I’m not saying housing is going to turn around. I suspect a heavy price cut followed by a long flat period. But once the #s start to pencil out, I do see a lot of pent up demand buying in not as an investment, but to have a home.

That’s just what I see around me down here in the trenches of youth. 🙂

[sdnerd]

Agree I am young; not much I can do to change that. Would actually prefer to stop aging, but suspect that’s out of my control. 🙂 But what exactly am I supposed to learn? Nobody can predict the future or how good or bad things will get.

Older generations have a higher tendency of doom & gloom based on past history. Understandable, and maybe that is what’s coming.

Both my wife and I are steadily employed and have been for a long time. Monthly expenses total about ~$2k. Household income between $150-200k/yr, last year significantly better. We’ve been stockpiling cash for a long time.

I also own a profitable side business, where I re-invest all the profits.

Company I work for can’t hire fast enough. I have job openings I can’t fill. Local companies poaching from us – job market is strong. There are a lot of people making a ton of money.

Apple iFund announcement the other day, $100 million VC fund despite all the bad market news.

5-6 years of musical chairs with housing, everyone left holding the bag gets creamed. Everyone else was making 20% profits.

So yes there are a lot of janitors out there who shouldn’t have bought houses and are going to lose them. And there are also a LOT of 20-30 year olds who’ve had 6 figure incomes the last 8 years and have been renting, living at home, or doing what I’ve done. Most of the ones I know want to buy, once the prices drop down.

So yes, absolutely everything could come crashing down. All the jobs could move out of San Diego, and housing could crash down to 30% of what it costs today. Or the US could have a complete financial collapse. Plenty of scenarios you could write up.

I don’t think San Diego will become a ghost town anytime soon.

I’m not saying housing is going to turn around. I suspect a heavy price cut followed by a long flat period. But once the #s start to pencil out, I do see a lot of pent up demand buying in not as an investment, but to have a home.

That’s just what I see around me down here in the trenches of youth. 🙂

[sdnerd]

Agree I am young; not much I can do to change that. Would actually prefer to stop aging, but suspect that’s out of my control. 🙂 But what exactly am I supposed to learn? Nobody can predict the future or how good or bad things will get.

Older generations have a higher tendency of doom & gloom based on past history. Understandable, and maybe that is what’s coming.

Both my wife and I are steadily employed and have been for a long time. Monthly expenses total about ~$2k. Household income between $150-200k/yr, last year significantly better. We’ve been stockpiling cash for a long time.

I also own a profitable side business, where I re-invest all the profits.

Company I work for can’t hire fast enough. I have job openings I can’t fill. Local companies poaching from us – job market is strong. There are a lot of people making a ton of money.

Apple iFund announcement the other day, $100 million VC fund despite all the bad market news.

5-6 years of musical chairs with housing, everyone left holding the bag gets creamed. Everyone else was making 20% profits.

So yes there are a lot of janitors out there who shouldn’t have bought houses and are going to lose them. And there are also a LOT of 20-30 year olds who’ve had 6 figure incomes the last 8 years and have been renting, living at home, or doing what I’ve done. Most of the ones I know want to buy, once the prices drop down.

So yes, absolutely everything could come crashing down. All the jobs could move out of San Diego, and housing could crash down to 30% of what it costs today. Or the US could have a complete financial collapse. Plenty of scenarios you could write up.

I don’t think San Diego will become a ghost town anytime soon.

I’m not saying housing is going to turn around. I suspect a heavy price cut followed by a long flat period. But once the #s start to pencil out, I do see a lot of pent up demand buying in not as an investment, but to have a home.

That’s just what I see around me down here in the trenches of youth. 🙂

[sdnerd]

Agree I am young; not much I can do to change that. Would actually prefer to stop aging, but suspect that’s out of my control. 🙂 But what exactly am I supposed to learn? Nobody can predict the future or how good or bad things will get.

Older generations have a higher tendency of doom & gloom based on past history. Understandable, and maybe that is what’s coming.

Both my wife and I are steadily employed and have been for a long time. Monthly expenses total about ~$2k. Household income between $150-200k/yr, last year significantly better. We’ve been stockpiling cash for a long time.

I also own a profitable side business, where I re-invest all the profits.

Company I work for can’t hire fast enough. I have job openings I can’t fill. Local companies poaching from us – job market is strong. There are a lot of people making a ton of money.

Apple iFund announcement the other day, $100 million VC fund despite all the bad market news.

5-6 years of musical chairs with housing, everyone left holding the bag gets creamed. Everyone else was making 20% profits.

So yes there are a lot of janitors out there who shouldn’t have bought houses and are going to lose them. And there are also a LOT of 20-30 year olds who’ve had 6 figure incomes the last 8 years and have been renting, living at home, or doing what I’ve done. Most of the ones I know want to buy, once the prices drop down.

So yes, absolutely everything could come crashing down. All the jobs could move out of San Diego, and housing could crash down to 30% of what it costs today. Or the US could have a complete financial collapse. Plenty of scenarios you could write up.

I don’t think San Diego will become a ghost town anytime soon.

I’m not saying housing is going to turn around. I suspect a heavy price cut followed by a long flat period. But once the #s start to pencil out, I do see a lot of pent up demand buying in not as an investment, but to have a home.

That’s just what I see around me down here in the trenches of youth. 🙂

[sdnerd]

Agree I am young; not much I can do to change that. Would actually prefer to stop aging, but suspect that’s out of my control. 🙂 But what exactly am I supposed to learn? Nobody can predict the future or how good or bad things will get.

Older generations have a higher tendency of doom & gloom based on past history. Understandable, and maybe that is what’s coming.

Both my wife and I are steadily employed and have been for a long time. Monthly expenses total about ~$2k. Household income between $150-200k/yr, last year significantly better. We’ve been stockpiling cash for a long time.

I also own a profitable side business, where I re-invest all the profits.

Company I work for can’t hire fast enough. I have job openings I can’t fill. Local companies poaching from us – job market is strong. There are a lot of people making a ton of money.

Apple iFund announcement the other day, $100 million VC fund despite all the bad market news.

5-6 years of musical chairs with housing, everyone left holding the bag gets creamed. Everyone else was making 20% profits.

So yes there are a lot of janitors out there who shouldn’t have bought houses and are going to lose them. And there are also a LOT of 20-30 year olds who’ve had 6 figure incomes the last 8 years and have been renting, living at home, or doing what I’ve done. Most of the ones I know want to buy, once the prices drop down.

So yes, absolutely everything could come crashing down. All the jobs could move out of San Diego, and housing could crash down to 30% of what it costs today. Or the US could have a complete financial collapse. Plenty of scenarios you could write up.

I don’t think San Diego will become a ghost town anytime soon.

I’m not saying housing is going to turn around. I suspect a heavy price cut followed by a long flat period. But once the #s start to pencil out, I do see a lot of pent up demand buying in not as an investment, but to have a home.

That’s just what I see around me down here in the trenches of youth. 🙂

[TheBreeze]

Both my wife and I are steadily employed and have been for a long time. Monthly expenses total about ~$2k. Household income between $150-200k/yr, last year significantly better. We’ve been stockpiling cash for a long time.

I also own a profitable side business, where I re-invest all the profits.

Ahhhh … eballing. It never gets old does it? Come to think of it though, I don’t know a single 20-year-old making less than $250K per year.

I’m not saying housing is going to turn around. I suspect a heavy price cut followed by a long flat period. But once the #s start to pencil out, I do see a lot of pent up demand buying in not as an investment, but to have a home.

That’s just what I see around me down here in the trenches of youth. 🙂

Let me know when you and your circle of 20 friends are ready to unleash that pent-up demand so I can jump in there and buy just before you. I certainly don’t want to be priced out foreva!

[TheBreeze]

Both my wife and I are steadily employed and have been for a long time. Monthly expenses total about ~$2k. Household income between $150-200k/yr, last year significantly better. We’ve been stockpiling cash for a long time.

I also own a profitable side business, where I re-invest all the profits.

Ahhhh … eballing. It never gets old does it? Come to think of it though, I don’t know a single 20-year-old making less than $250K per year.

I’m not saying housing is going to turn around. I suspect a heavy price cut followed by a long flat period. But once the #s start to pencil out, I do see a lot of pent up demand buying in not as an investment, but to have a home.

That’s just what I see around me down here in the trenches of youth. 🙂

Let me know when you and your circle of 20 friends are ready to unleash that pent-up demand so I can jump in there and buy just before you. I certainly don’t want to be priced out foreva!

[TheBreeze]

Both my wife and I are steadily employed and have been for a long time. Monthly expenses total about ~$2k. Household income between $150-200k/yr, last year significantly better. We’ve been stockpiling cash for a long time.

I also own a profitable side business, where I re-invest all the profits.

Ahhhh … eballing. It never gets old does it? Come to think of it though, I don’t know a single 20-year-old making less than $250K per year.

I’m not saying housing is going to turn around. I suspect a heavy price cut followed by a long flat period. But once the #s start to pencil out, I do see a lot of pent up demand buying in not as an investment, but to have a home.

That’s just what I see around me down here in the trenches of youth. 🙂

Let me know when you and your circle of 20 friends are ready to unleash that pent-up demand so I can jump in there and buy just before you. I certainly don’t want to be priced out foreva!

[TheBreeze]

Both my wife and I are steadily employed and have been for a long time. Monthly expenses total about ~$2k. Household income between $150-200k/yr, last year significantly better. We’ve been stockpiling cash for a long time.

I also own a profitable side business, where I re-invest all the profits.

Ahhhh … eballing. It never gets old does it? Come to think of it though, I don’t know a single 20-year-old making less than $250K per year.

I’m not saying housing is going to turn around. I suspect a heavy price cut followed by a long flat period. But once the #s start to pencil out, I do see a lot of pent up demand buying in not as an investment, but to have a home.

That’s just what I see around me down here in the trenches of youth. 🙂

Let me know when you and your circle of 20 friends are ready to unleash that pent-up demand so I can jump in there and buy just before you. I certainly don’t want to be priced out foreva!

[TheBreeze]

Both my wife and I are steadily employed and have been for a long time. Monthly expenses total about ~$2k. Household income between $150-200k/yr, last year significantly better. We’ve been stockpiling cash for a long time.

I also own a profitable side business, where I re-invest all the profits.

Ahhhh … eballing. It never gets old does it? Come to think of it though, I don’t know a single 20-year-old making less than $250K per year.

I’m not saying housing is going to turn around. I suspect a heavy price cut followed by a long flat period. But once the #s start to pencil out, I do see a lot of pent up demand buying in not as an investment, but to have a home.

That’s just what I see around me down here in the trenches of youth. 🙂

Let me know when you and your circle of 20 friends are ready to unleash that pent-up demand so I can jump in there and buy just before you. I certainly don’t want to be priced out foreva!

[Ex-SD]

Oh yes….the old, “it could never happen to me” syndrome.
sdnerd: Older people tend to be more pessimistic because they’ve had their ass handed to them (or know many people who have) when they least expect it. Don’t be too smug about your convictions at this point. Things are going to get pretty nasty and chances are, your company is working off of investor money that could dry up and leave you and bunch of other people standing on the corner saying, what happened? I’m not saying it’s going to happen….I’ve just seen it too many times to people I know who wound up spending every dime they had until they could get back on their feet in order to survive after being blind-sided out the blue when their company folded and their industry shrunk and their $200k income went to zero.
If you truly believe that SD housing isn’t going to drop a great deal more, then by all means, go out and buy a home tomorrow……..but don’t come back here moaning and groaning when it drops a whole lot more after you buy (like some have already done who were warned and have now come back saying, “I should have listened”). You don’t have to believe that we’re already in a recession that’s going to get a whole lot worse and affect a whole lot of people and the economies of a lot of cities and states. And besides…………It’s your money and if you can waste it anyway you want.

[Ex-SD]

Oh yes….the old, “it could never happen to me” syndrome.
sdnerd: Older people tend to be more pessimistic because they’ve had their ass handed to them (or know many people who have) when they least expect it. Don’t be too smug about your convictions at this point. Things are going to get pretty nasty and chances are, your company is working off of investor money that could dry up and leave you and bunch of other people standing on the corner saying, what happened? I’m not saying it’s going to happen….I’ve just seen it too many times to people I know who wound up spending every dime they had until they could get back on their feet in order to survive after being blind-sided out the blue when their company folded and their industry shrunk and their $200k income went to zero.
If you truly believe that SD housing isn’t going to drop a great deal more, then by all means, go out and buy a home tomorrow……..but don’t come back here moaning and groaning when it drops a whole lot more after you buy (like some have already done who were warned and have now come back saying, “I should have listened”). You don’t have to believe that we’re already in a recession that’s going to get a whole lot worse and affect a whole lot of people and the economies of a lot of cities and states. And besides…………It’s your money and if you can waste it anyway you want.

[Ex-SD]

Oh yes….the old, “it could never happen to me” syndrome.
sdnerd: Older people tend to be more pessimistic because they’ve had their ass handed to them (or know many people who have) when they least expect it. Don’t be too smug about your convictions at this point. Things are going to get pretty nasty and chances are, your company is working off of investor money that could dry up and leave you and bunch of other people standing on the corner saying, what happened? I’m not saying it’s going to happen….I’ve just seen it too many times to people I know who wound up spending every dime they had until they could get back on their feet in order to survive after being blind-sided out the blue when their company folded and their industry shrunk and their $200k income went to zero.
If you truly believe that SD housing isn’t going to drop a great deal more, then by all means, go out and buy a home tomorrow……..but don’t come back here moaning and groaning when it drops a whole lot more after you buy (like some have already done who were warned and have now come back saying, “I should have listened”). You don’t have to believe that we’re already in a recession that’s going to get a whole lot worse and affect a whole lot of people and the economies of a lot of cities and states. And besides…………It’s your money and if you can waste it anyway you want.

[Author]

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