Pain in La Jolla

[DWCAP]

Oh god, I rent. I must be a loser who should just off myself and end it all cause I come home to a place that does not get taxed in my name. I make alot of money, save >25% of my income, have an awsome GF, a job that makes me happy and a difference in the world, travel all the time, work hard, and am mostly happy most of the time. I have a great family, alot of friends, and am healthy as an ox.

Apparently AMB thinks I am worthless, being a renter sure is a terrible place in life, with housing falling at a faster rate than EVER, I obviously should run out and buy a place so I dont end up a misserable rich looser renter. Everyone knows God and society hate renters, right AMB?

BTW, wasnt the top a few years ago?

[PD]

Awomba is clearly an owner trying to convince everybody that his or her purchase wasn’t stupid. It was extremely disingenuous to claim that he had no stake in the matter since he wasn’t going to be buying or selling in the next year. Then, he goes on to say that he bought a few years ago. Hmmm…. A few years ago means 2005 and peak pricing. Even people with great incomes overspend and find themselves in trouble. I know a few in Coronado. A great income might not actually stretch to make a 2.5 million dollar mortgage when it resets. Finally, when confronted by logic instead of the blind hope Awomba displays, he lashed out with the ridiculous and tired refrain, “I’m an owner and you are a loser renter.”

Guess what, Awomba, prices are going down. Everything on the both the micro (local RE pricing as it relates to earnings and local economy) and macro scene (mortgage origination, wall street, economy) guarantees it. There will always be fools ready to buy at (just about) any price, but real estate is set at the margins. It only takes a few people in distress to drive down the market.

I’m a proud renter and have doubled my net worth since I sold my house in 2005. Has your net doubled, Awomba?

[PD]

Awomba is clearly an owner trying to convince everybody that his or her purchase wasn’t stupid. It was extremely disingenuous to claim that he had no stake in the matter since he wasn’t going to be buying or selling in the next year. Then, he goes on to say that he bought a few years ago. Hmmm…. A few years ago means 2005 and peak pricing. Even people with great incomes overspend and find themselves in trouble. I know a few in Coronado. A great income might not actually stretch to make a 2.5 million dollar mortgage when it resets. Finally, when confronted by logic instead of the blind hope Awomba displays, he lashed out with the ridiculous and tired refrain, “I’m an owner and you are a loser renter.”

Guess what, Awomba, prices are going down. Everything on the both the micro (local RE pricing as it relates to earnings and local economy) and macro scene (mortgage origination, wall street, economy) guarantees it. There will always be fools ready to buy at (just about) any price, but real estate is set at the margins. It only takes a few people in distress to drive down the market.

I’m a proud renter and have doubled my net worth since I sold my house in 2005. Has your net doubled, Awomba?

[PD]

Awomba is clearly an owner trying to convince everybody that his or her purchase wasn’t stupid. It was extremely disingenuous to claim that he had no stake in the matter since he wasn’t going to be buying or selling in the next year. Then, he goes on to say that he bought a few years ago. Hmmm…. A few years ago means 2005 and peak pricing. Even people with great incomes overspend and find themselves in trouble. I know a few in Coronado. A great income might not actually stretch to make a 2.5 million dollar mortgage when it resets. Finally, when confronted by logic instead of the blind hope Awomba displays, he lashed out with the ridiculous and tired refrain, “I’m an owner and you are a loser renter.”

Guess what, Awomba, prices are going down. Everything on the both the micro (local RE pricing as it relates to earnings and local economy) and macro scene (mortgage origination, wall street, economy) guarantees it. There will always be fools ready to buy at (just about) any price, but real estate is set at the margins. It only takes a few people in distress to drive down the market.

I’m a proud renter and have doubled my net worth since I sold my house in 2005. Has your net doubled, Awomba?

[PD]

Awomba is clearly an owner trying to convince everybody that his or her purchase wasn’t stupid. It was extremely disingenuous to claim that he had no stake in the matter since he wasn’t going to be buying or selling in the next year. Then, he goes on to say that he bought a few years ago. Hmmm…. A few years ago means 2005 and peak pricing. Even people with great incomes overspend and find themselves in trouble. I know a few in Coronado. A great income might not actually stretch to make a 2.5 million dollar mortgage when it resets. Finally, when confronted by logic instead of the blind hope Awomba displays, he lashed out with the ridiculous and tired refrain, “I’m an owner and you are a loser renter.”

Guess what, Awomba, prices are going down. Everything on the both the micro (local RE pricing as it relates to earnings and local economy) and macro scene (mortgage origination, wall street, economy) guarantees it. There will always be fools ready to buy at (just about) any price, but real estate is set at the margins. It only takes a few people in distress to drive down the market.

I’m a proud renter and have doubled my net worth since I sold my house in 2005. Has your net doubled, Awomba?

[PD]

Awomba is clearly an owner trying to convince everybody that his or her purchase wasn’t stupid. It was extremely disingenuous to claim that he had no stake in the matter since he wasn’t going to be buying or selling in the next year. Then, he goes on to say that he bought a few years ago. Hmmm…. A few years ago means 2005 and peak pricing. Even people with great incomes overspend and find themselves in trouble. I know a few in Coronado. A great income might not actually stretch to make a 2.5 million dollar mortgage when it resets. Finally, when confronted by logic instead of the blind hope Awomba displays, he lashed out with the ridiculous and tired refrain, “I’m an owner and you are a loser renter.”

Guess what, Awomba, prices are going down. Everything on the both the micro (local RE pricing as it relates to earnings and local economy) and macro scene (mortgage origination, wall street, economy) guarantees it. There will always be fools ready to buy at (just about) any price, but real estate is set at the margins. It only takes a few people in distress to drive down the market.

I’m a proud renter and have doubled my net worth since I sold my house in 2005. Has your net doubled, Awomba?

[San Diego Native]

We’ve owned our home (@5000SF/almost an acre with an ocean view/under $300K (edited typo of $400K) in La Jolla for almost twenty years. We bought when we were in our late 20’s, paid cash, no HELOC’s, etc.

We have absolutely loved living here and raising our family in this beautiful place, and understand why anyone would be watching and waiting for prices to fall.

I doubt if we’ll ever sell our home, but we’ve picked up a few rentals over the years, and if things ever “pencil out” again, we’ll be watching and waiting to scoop them up, too. Thanks for posting the info.

[San Diego Native]

We’ve owned our home (@5000SF/almost an acre with an ocean view/under $300K (edited typo of $400K) in La Jolla for almost twenty years. We bought when we were in our late 20’s, paid cash, no HELOC’s, etc.

We have absolutely loved living here and raising our family in this beautiful place, and understand why anyone would be watching and waiting for prices to fall.

I doubt if we’ll ever sell our home, but we’ve picked up a few rentals over the years, and if things ever “pencil out” again, we’ll be watching and waiting to scoop them up, too. Thanks for posting the info.

[San Diego Native]

We’ve owned our home (@5000SF/almost an acre with an ocean view/under $300K (edited typo of $400K) in La Jolla for almost twenty years. We bought when we were in our late 20’s, paid cash, no HELOC’s, etc.

We have absolutely loved living here and raising our family in this beautiful place, and understand why anyone would be watching and waiting for prices to fall.

I doubt if we’ll ever sell our home, but we’ve picked up a few rentals over the years, and if things ever “pencil out” again, we’ll be watching and waiting to scoop them up, too. Thanks for posting the info.

[San Diego Native]

We’ve owned our home (@5000SF/almost an acre with an ocean view/under $300K (edited typo of $400K) in La Jolla for almost twenty years. We bought when we were in our late 20’s, paid cash, no HELOC’s, etc.

We have absolutely loved living here and raising our family in this beautiful place, and understand why anyone would be watching and waiting for prices to fall.

I doubt if we’ll ever sell our home, but we’ve picked up a few rentals over the years, and if things ever “pencil out” again, we’ll be watching and waiting to scoop them up, too. Thanks for posting the info.

[San Diego Native]

We’ve owned our home (@5000SF/almost an acre with an ocean view/under $300K (edited typo of $400K) in La Jolla for almost twenty years. We bought when we were in our late 20’s, paid cash, no HELOC’s, etc.

We have absolutely loved living here and raising our family in this beautiful place, and understand why anyone would be watching and waiting for prices to fall.

I doubt if we’ll ever sell our home, but we’ve picked up a few rentals over the years, and if things ever “pencil out” again, we’ll be watching and waiting to scoop them up, too. Thanks for posting the info.

[Anonymous]

First, no I did not buy in 2005 or at the peak. Second, I can blog wherever I please “deadzone”… is there a rule that this blog is limited only to buyers and seller? Not aware of that. Third, it never ceases to amaze me how people attack an opposing viewpoint on this site. I don’t see $600k for desirable homes in PB… sorry, I just don’t. Good luck to those of you who think it will happen, but I think you’re wrong.

[Anonymous]

First, no I did not buy in 2005 or at the peak. Second, I can blog wherever I please “deadzone”… is there a rule that this blog is limited only to buyers and seller? Not aware of that. Third, it never ceases to amaze me how people attack an opposing viewpoint on this site. I don’t see $600k for desirable homes in PB… sorry, I just don’t. Good luck to those of you who think it will happen, but I think you’re wrong.

[Anonymous]

First, no I did not buy in 2005 or at the peak. Second, I can blog wherever I please “deadzone”… is there a rule that this blog is limited only to buyers and seller? Not aware of that. Third, it never ceases to amaze me how people attack an opposing viewpoint on this site. I don’t see $600k for desirable homes in PB… sorry, I just don’t. Good luck to those of you who think it will happen, but I think you’re wrong.

[Anonymous]

First, no I did not buy in 2005 or at the peak. Second, I can blog wherever I please “deadzone”… is there a rule that this blog is limited only to buyers and seller? Not aware of that. Third, it never ceases to amaze me how people attack an opposing viewpoint on this site. I don’t see $600k for desirable homes in PB… sorry, I just don’t. Good luck to those of you who think it will happen, but I think you’re wrong.

[Author]

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