Piggington’s Evoloution-when will housing prices become the discussion again.

[temeculaguy]

As an OG of this site I have dropped in every few months only to close the window in disgust to see what my once loved forum has become. I have different motives today than I did back then. I bought eleven years ago after the biggest bubble in my lifetime and I will always credit this place with how I managed to time the market. Now I’m curious as my children are now adults, college grads and in the workforce, I want to give them advice that is timely as far as purchases or renting goes.

But alas, the site is awash in liberal drivel, socialism, politics and trump derangement syndrome. What the hell happened? This place was the “red pill” to the main stream media circa 2006 and look at it now. To quote Bunk from the Wire “Makes me sick how far we done fell” https://www.youtube.com/watch?v=1wmgghlEagA

So when does piggington become a forum for the economic punk rockers again, those who would never listen to the main stream media and want to beat the sheeple and the system. Or will it remain a place democratic socialists go when the Rachael Maddow show has a guest host?

I’ve also seen the treatment of some old friends by the rabid progressives and have been tempted to intervene, but wisdom prevents me from doing so because they need to age out of it. As the old saying goes, “if you are not a socialist by 20 you have no heart but if you are not a conservative by 40 you have no brain.” They need to age out of it and I will not convince them otherwise, however at some point someone has to declare “adult swim, everyone under 18, out of the pool.” Plus I hate politics and despise both sides and never put that much faith in another human.

BTW interesting history about that socialist quote, https://quoteinvestigator.com/2014/02/24/heart-head/
there’s debate about who said it and what they said, but any of those credited and any of the versions still make the point.

[The-Shoveler]

Long time TG,

Other than big money escaping SD and LA moving to TV not too much happening on the housing front IMO.

Ontario airport and surrounding area’s RE and biz is on fire.

[moneymaker]

Like the Winston Churchill quote and bookmarked the site. Also bought post bubble, 10 years ago. So real estate is not on my priority list. Still fun to watch as my wife seems to be addicted to it. The stock market is also starting to get boring, Trump needs to spout off more often to shake things up, got about 30% cash waiting for something to happen. For lent I think I’ll become anti-commercial and try not to spend any more money than I need to. Really should feel lucky that we bought when we did, got $8000 from government, great rate now (2.625%) on a 15 year loan, and currently have lots of equity.

[The-Shoveler]

Well this should give the local RE a boost.

Apple (AAPL) has announced it’s bringing 1,200 employees to a San Diego office over the next three years, growing its presence right in the backyard of its current legal rival Qualcomm.

[FlyerInHi]

Moneymaker, you know that Winston Churchill was a drunk and sexual harasser, right?

[SDNative2]

Dear Piggs, I’ve been on here three years but lurking longer. I’m getting to a point to buy a primary residence again mid-summer. I only want to buy in 92054, West of the 5. Prices seem to have topped out for both SFRs and condos (but no multi’s that remotely pencil out at all.) Rents are lowering somewhat I’ve noticed. Should I rent one more year? Do you think coastal O’side prices might depress a little bit? What do you think of a place like North Coast Village (where most are Air BnB’d), if I could pick up a 1 BR for $450K + $500 HOA?

Thoughts?
Thank you…

[moneymaker]

Not surprised at all, most historical figures have skeletons in their closets. One of the worst, who I used to look up to as a kid was Thomas Alvin Edison, he electrocuted an elephant to prove DC was safer than AC, here’s the video https://www.youtube.com/watch?v=uByT6Zdphwc

[spdrun]

Edison didn’t hold the patents on AC power distribution, and his DC system was unviable outside of cities. So he held demonstrations of the “dangers” of AC current and heavily pushed the electric chair, which ran on AC power. I think the tagline was “Do you want the hangman’s current running through your walls?”

Small consulation was that the Tesla/Westinghouse AC system won out in the end anyway…

Edison: “Invention is 1% inspiration and 99% perspiration.”
Tesla: “If he was able to math, he wouldn’t perspire so much.”

Cruel irony of this was that Tesla died forgotten and Edison died a rich man.

[phaster]

“red pill”

huh,…

AAPL bringing 1,200 employees is indeed a good sign that the area has telecomm knowledge (which is field of growing demand),…

https://www.piggington.com/apple_aapl_has_announced_its_bringing_1200_employees_san_diego_o#comment-283134

BUT looking at the big picture there is a storm that too few know is brewing

[quote]
Where Do Households (w/ in California) Have the Most Money After Housing?
https://www.zillow.com/research/metros-most-money-after-housing-23185/
[/quote]

looking at the interactive graph seems Los Angeles is worst off than San Diego (for real estate affordability),… BUT one item not taken into account in the zillow study and other real estate centric studies is the systemic problem of public pensions

have not looked into detail(s) how the LA public pension portfolio is structured, but here in SD the big problem seems to be the three decades plus standard operation procedure of a 13th check which looking at the black box, is exponentially producing debt obligation (which the front page news article in the UT should have reported on)

http://www.TinyURL.com/13thcheck

given the court ruling just announced

[quote]
California Supreme Court curbs a pension benefit but preserves ‘California Rule’
https://www.latimes.com/local/lanow/la-me-ln-pension-court-20190304-story.html
[/quote]

people should seriously ponder “what if” nothing is done to directly address issues like the “California rule” which implies taxpayers are the financial backstop for shortfalls of public pension portfolios because the “California rule” like credit default swaps from too big to fail banks, have taxpayers as the implied financial backstop

http://www.TinyURL.com/InvestorWarning

bottom line,… even before the eventual storm hits, the system is set up w/ two massive systemic head winds which are setup to hit households w/ debt obligations that are going to be difficult/impossible to deal w/ so as a result I’d say real estate is going to take an eventual hit (so better have a hedge strategy in place to beat the sheeple and the system)

[FlyerInHi]

For me it’s easy to become liberal in old age. You’re supposed to grow intellectually and become wiser with age.
I don’t talk as much to some old friends because they have stagnated intellectually.

I don’t watch Rachel Maddow. I like to watch lectures at Asia Society and Center for Strategic and Intenational Studies. That kind of talk is such more more interesting.

[The-Shoveler]

I don’t want to get too far off RE topic in this thread but even the dedicated democrat Warren Buffett said he would never buy RE or open a biz in LA or San Francisco becuse of the unfunded pension liability.

[Coronita]

it amazes me how many people would rather soak and bake in doomsday mentality despite how over and over again the sky has not fallen and the world has not ended.

All these folks soaking in the economic doomsday scenario and dreaming for it are no different than the crazy religious nut jobs that think Jesus Christ is coming and the end of the world is near.

I suspect folks that fall into this trap of doomsday thinking have a miserable life and only wish other people end up as miserable as them so they feel better. News flash… ain’t gonna happen… There’s got to be some mental medical disorder that describes this…And hopefully a public healthcare option in the US will eventually help people get treated.

[The-Shoveler]

LOL I don’t think the sky is falling,

But even former gov Brown said, only a reasonable pension should be guaranteed, I think leaving a door open for default and restructure.

[Coronita]

[quote=The-Shoveler]LOL I don’t think the sky is falling,

But even former gov Brown said, only a reasonable pension should be guaranteed, I think leaving a door open for default and restructure.[/quote]

I wasnt talking about you. Come on now, I know you’re pretty sensible…. I was talking about a lot of the other “ooo it’s going to crash and burn anyway now” that came before you…

And there’s got to be a medical diagnosis for those that get high on seeing other people fail.

[FlyerInHi]

Deficit hawks have been predicting a catastrophic crash for a long time now.
Ron Paul with his dollar debasement theories.

Debt ceiling anyone?

[Author]

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