Solana Beach Oceanview Condo’s Still Expensive

[blahblahblah]

Sigh. Where does it all end then? We had stupid lending which led to this housing bubble, people getting greedy and buying beyond their means (no fat government salary here), but inflation, the real one, will keep this house and many others at a high level? So are these prices “real?”

Man I wish I knew where this was gonna end. It can’t end well. The only things I know for sure are that a lot of people with way more money and power than yours truly have a vested interest in keeping this charade going as long as possible and that this country is unique in its ability to print currency backed by nothing that everyone else in the world is obliged to accept. Nothing about this scenario is “real” in any sense of the word.

It has been touched on in other threads on this site that the concept of homeowning in this country may become sort of a lifetime rental arrangement from the bank. Meaning, your average “homeowner” will never pay off their mortgage. Note that in many other countries (in south america for example) there are not really mortgage loans as in the US. People pay cash for homes or they don’t get to buy them at all. It used to be that way here in the US, too. For a few decades, mortgages were very effective in allowing a large number of citizens to own property but I’m worried that those days may be over. Remember that the powers that be don’t want you and I to own property. They want us to be indebted for our entire lives. If we’re not paying interest to them, they’re not getting paid. When they’re not getting paid, they get upset. And when they get upset, watch out.

Depressing, isn’t it! Of course I could be wrong. I HOPE I’m wrong!

[Happs]

The little sidebar to this front page article in today’s Arizona Republic confirms that prices on the bluff are holding steady or rising while downtown condo prices are in retreat. I don’t think Zonies though are interested in going downtown San Diego on vacation. Just my opinion.

http://www.azcentral.com/realestate/articles/0209biz-sdcondo0210.html

[Happs]

The little sidebar to this front page article in today’s Arizona Republic confirms that prices on the bluff are holding steady or rising while downtown condo prices are in retreat. I don’t think Zonies though are interested in going downtown San Diego on vacation. Just my opinion.

http://www.azcentral.com/realestate/articles/0209biz-sdcondo0210.html

[Happs]

The little sidebar to this front page article in today’s Arizona Republic confirms that prices on the bluff are holding steady or rising while downtown condo prices are in retreat. I don’t think Zonies though are interested in going downtown San Diego on vacation. Just my opinion.

http://www.azcentral.com/realestate/articles/0209biz-sdcondo0210.html

[Happs]

The little sidebar to this front page article in today’s Arizona Republic confirms that prices on the bluff are holding steady or rising while downtown condo prices are in retreat. I don’t think Zonies though are interested in going downtown San Diego on vacation. Just my opinion.

http://www.azcentral.com/realestate/articles/0209biz-sdcondo0210.html

[Happs]

The little sidebar to this front page article in today’s Arizona Republic confirms that prices on the bluff are holding steady or rising while downtown condo prices are in retreat. I don’t think Zonies though are interested in going downtown San Diego on vacation. Just my opinion.

http://www.azcentral.com/realestate/articles/0209biz-sdcondo0210.html

[Bugs]

The primo coastal areas will be among the last dominoes to fall. If the same condo located in Encinitas east of !-5 drops below $300k (and it might) then this unit probably will not be worth 300% more just because of the oceanfront location. These properties are all related, even if indirectly; and pricing is proportional.

[Bugs]

The primo coastal areas will be among the last dominoes to fall. If the same condo located in Encinitas east of !-5 drops below $300k (and it might) then this unit probably will not be worth 300% more just because of the oceanfront location. These properties are all related, even if indirectly; and pricing is proportional.

[Bugs]

The primo coastal areas will be among the last dominoes to fall. If the same condo located in Encinitas east of !-5 drops below $300k (and it might) then this unit probably will not be worth 300% more just because of the oceanfront location. These properties are all related, even if indirectly; and pricing is proportional.

[Bugs]

The primo coastal areas will be among the last dominoes to fall. If the same condo located in Encinitas east of !-5 drops below $300k (and it might) then this unit probably will not be worth 300% more just because of the oceanfront location. These properties are all related, even if indirectly; and pricing is proportional.

[Bugs]

The primo coastal areas will be among the last dominoes to fall. If the same condo located in Encinitas east of !-5 drops below $300k (and it might) then this unit probably will not be worth 300% more just because of the oceanfront location. These properties are all related, even if indirectly; and pricing is proportional.

[patientrenter]

Concho, you seem to think that the system is rigged so that investors (who lend money to borrowers so they can buy homes) do well out of housing. But investors:

a. Put up almost all the money to buy the house
b. Take on almost all the losses if the price declines
c. Get a return just a tiny amount above the rate on risk-free Treasuries. (Tiny compared to the possible losses.)
d. Take on all the losses if the loan repayments are devalued by inflation

Meanwhile borrowers:

1. Put down very little of the money
2. Can walk away if prices go down
3. Keep all the increases if home prices go up
4. Pay a lower rate than on any other loan they could get from any other fre-market source
5. Make out like bandits if inflation is high, because the loan repayments they have to make shrink in real terms

Help me understand how the system is rigged to help investors, and not the borrowers. As far as I can tell, our system of home financing is the biggest govt wealth redistribution system in the world, taking wealth from savers and giving it to people who borrow to buy homes, in truly mind-boggling amounts.

Patient renter in OC

[patientrenter]

Concho, you seem to think that the system is rigged so that investors (who lend money to borrowers so they can buy homes) do well out of housing. But investors:

a. Put up almost all the money to buy the house
b. Take on almost all the losses if the price declines
c. Get a return just a tiny amount above the rate on risk-free Treasuries. (Tiny compared to the possible losses.)
d. Take on all the losses if the loan repayments are devalued by inflation

Meanwhile borrowers:

1. Put down very little of the money
2. Can walk away if prices go down
3. Keep all the increases if home prices go up
4. Pay a lower rate than on any other loan they could get from any other fre-market source
5. Make out like bandits if inflation is high, because the loan repayments they have to make shrink in real terms

Help me understand how the system is rigged to help investors, and not the borrowers. As far as I can tell, our system of home financing is the biggest govt wealth redistribution system in the world, taking wealth from savers and giving it to people who borrow to buy homes, in truly mind-boggling amounts.

Patient renter in OC

[patientrenter]

Concho, you seem to think that the system is rigged so that investors (who lend money to borrowers so they can buy homes) do well out of housing. But investors:

a. Put up almost all the money to buy the house
b. Take on almost all the losses if the price declines
c. Get a return just a tiny amount above the rate on risk-free Treasuries. (Tiny compared to the possible losses.)
d. Take on all the losses if the loan repayments are devalued by inflation

Meanwhile borrowers:

1. Put down very little of the money
2. Can walk away if prices go down
3. Keep all the increases if home prices go up
4. Pay a lower rate than on any other loan they could get from any other fre-market source
5. Make out like bandits if inflation is high, because the loan repayments they have to make shrink in real terms

Help me understand how the system is rigged to help investors, and not the borrowers. As far as I can tell, our system of home financing is the biggest govt wealth redistribution system in the world, taking wealth from savers and giving it to people who borrow to buy homes, in truly mind-boggling amounts.

Patient renter in OC

[patientrenter]

Concho, you seem to think that the system is rigged so that investors (who lend money to borrowers so they can buy homes) do well out of housing. But investors:

a. Put up almost all the money to buy the house
b. Take on almost all the losses if the price declines
c. Get a return just a tiny amount above the rate on risk-free Treasuries. (Tiny compared to the possible losses.)
d. Take on all the losses if the loan repayments are devalued by inflation

Meanwhile borrowers:

1. Put down very little of the money
2. Can walk away if prices go down
3. Keep all the increases if home prices go up
4. Pay a lower rate than on any other loan they could get from any other fre-market source
5. Make out like bandits if inflation is high, because the loan repayments they have to make shrink in real terms

Help me understand how the system is rigged to help investors, and not the borrowers. As far as I can tell, our system of home financing is the biggest govt wealth redistribution system in the world, taking wealth from savers and giving it to people who borrow to buy homes, in truly mind-boggling amounts.

Patient renter in OC

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