Mira Mesa: no longer affordable for <$200k

[The-Shoveler]

[quote=FlyerInHi]When the predicted debt crisis hits and we have 20% interest rates then house prices will come down.
[/quote]

I think that is extremely unlikely unless wages were going up 22% etc…

Lower RE prices are not really in the local or national Gov’s interests.

[spdrun]

Sometimes, things happen that aren’t in the interest of the filth running DC and Sacramento.

[bearishgurl]

[quote=FlyerInHi]When the predicted debt crisis hits and we have 20% interest rates then house prices will come down. …[/quote]If that happens, I’ll be loving it … regardless of the fluctuating value of whichever residence I own at the time. I’m too old to recover from any over-exposure to the “stock market casino.” :=0

[no_such_reality]

[quote=bearishgurl][quote=FlyerInHi]When the predicted debt crisis hits and we have 20% interest rates then house prices will come down. …[/quote]If that happens, I’ll be loving it … regardless of the fluctuating value of whichever residence I own at the time. I’m too old to recover from any over-exposure to the “stock market casino.” :=0[/quote]

Except if the stock market casino implodes, CalPERs implodes and then the State and local Governments implode and Stockton will be a wishful memory.

[spdrun]

Good. A lot of overpaid ex-cops who retired before 50 at $100k+/yr will have to eat rice and beans. Problem?

Guess they’ll find out how the other half lives.

[Coronita]

On the other hand, three MM condos is probably what it’s going to cost to send my kid to Stanford medical school….if she can get in…Heh heh

[Coronita]

[quote=spdrun]Good. A lot of overpaid ex-cops who retired before 50 at $100k+/yr will have to eat rice and beans. Problem?

Guess they’ll find out how the other half lives.[/quote]

100k is middle class. In high cost areas of SD, LA, BayArea, I would even argue if that’s middle of middle class.

[bearishgurl]

[quote=FlyerInHi] . . . BG reminded us of Ross Perot on the other thread. He’s been predicting since 1990. And rates have only come down.[/quote]FIH, of course you must know that the only reason interest rates have “only come down” has been because artificial constructs were put in place by the PTB ~10 years ago to keep them down and are still in place today.

These constructs in place are only kicking the can (National debt) down the road further for our kids and their kids to deal with cuz we’ll all be dead by then. Meanwhile the passage of the ACA into law had and has the effect of adding trillions more to the National debt in the form of constant monthly premium subsidies paid out …. in part due to paying a HUGE group of people who HAD insurance prior to the ACA but were cancelled immediately prior to its inception (12/31/13). There are millions of us out there who didn’t ask to participate in this dumbed-down, put-millions-of-people-on-public-aid-who-don’t-need-or-want-it quagmire. Many of us now face no choice but to accept a subsidy because our monthly premiums have doubled and even tripled in cost from what we were paying in 2013 and prior years (before the ACA).

[spdrun]

100k is middle class. In high cost areas of SD, LA, BayArea, I would even argue if that’s middle of middle class.

So? Let them move to the desert. Is someone entitled to live in SD/LA/SF just because they’re an ex-cop?

[Coronita]

[quote=spdrun]

100k is middle class. In high cost areas of SD, LA, BayArea, I would even argue if that’s middle of middle class.

So? Let them move to the desert. Is someone entitled to live in SD/LA/SF just because they’re an ex-cop?[/quote]

I think you need to adequately compensate certain public workers otherwise infrastructure falls apart. That said, the pension situation is alarming imho but I don’t think paying cops $100k is really out of the norm. But what I think doesn’t really matter. It is what it is. And it doesn’t affect my bottom line.

[Coronita]

[quote=no_such_reality][quote=bearishgurl][quote=FlyerInHi]When the predicted debt crisis hits and we have 20% interest rates then house prices will come down. …[/quote]If that happens, I’ll be loving it … regardless of the fluctuating value of whichever residence I own at the time. I’m too old to recover from any over-exposure to the “stock market casino.” :=0[/quote]

Except if the stock market casino implodes, CalPERs implodes and then the State and local Governments implode and Stockton will be a wishful memory.[/quote]

We actually already have a precendence of what happens to pensions when the local government can’t pay…Detroit, and rewriting pension contracts,so I really don’t think people need to worry about it.

[livinincali]

[quote=flu]
And it doesn’t affect my bottom line.[/quote]

It does if they try to fill the hole with property tax increases.

[FlyerInHi]

[quote=bearishgurl][quote=FlyerInHi] . . . BG reminded us of Ross Perot on the other thread. He’s been predicting since 1990. And rates have only come down.[/quote]FIH, of course you must know that the only reason interest rates have “only come down” has been because artificial constructs were put in place by the PTB ~10 years ago to keep them down and are still in place today.

These constructs in place are only kicking the can (National debt) down the road further for our kids and their kids to deal with cuz we’ll all be dead by then. Meanwhile the passage of the ACA into law had and has the effect of adding trillions more to the National debt in the form of constant monthly premium subsidies paid out …. in part due to paying a HUGE group of people who HAD insurance prior to the ACA but were cancelled immediately prior to its inception (12/31/13). There are millions of us out there who didn’t ask to participate in this dumbed-down, put-millions-of-people-on-public-aid-who-don’t-need-or-want-it quagmire. Many of us now face no choice but to accept a subsidy because our monthly premiums have doubled and even tripled in cost from what we were paying in 2013 and prior years (before the ACA).[/quote]

Artificial constructs? What about market forces? People keep on talking about market forces.

[FlyerInHi]

[quote=flu]

We actually already have a precendence of what happens to pensions when the local government can’t pay…Detroit, and rewriting pension contracts,so I really don’t think people need to worry about it.[/quote]

The process seems to be working. There’s Puerto Rico playing out now… Philadelphia might be the next big one coming.

[Coronita]

[quote=livinincali][quote=flu]
And it doesn’t affect my bottom line.[/quote]

It does if they try to fill the hole with property tax increases.[/quote]

Prop 13

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