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Coronita.
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March 17, 2020 at 12:31 PM #815680March 17, 2020 at 12:33 PM #815681CoronitaParticipant
The key is, like any other investments, is diversification. San Diego a long time ago diversified well out of the norm of just tourism and just military/defense. If you look at SD, SD doesn’t have one thing they are exceptionally known for, but there’s a lot of things going on. High tech, bio-tech, tourism, military/defense, very large healthcare research, university ( UCSD is a top rank school). Any sort of hit in any one sector (tourism) is blunted by the other ones. Heavy concentrated LV or Bay Area is great when times are good, not so great when growth and speculation comes to a grinding halt. Everyone knows that. Just look at history.
While a one time, exceptional event like a pandemic probably cannot be predicted, the economic fallout is probably is much more so.
March 17, 2020 at 12:37 PM #815682Anonymous
GuestWhile Bay Area is dominated by tech it’s very diversified with everything SD has and more. It’s not a one trick slot machine uh… pony
March 17, 2020 at 1:06 PM #815685FlyerInHi
GuestI guess Trump’s billionaire casino owners friends will go bankrupt?
How much is a casino worth if there’re no customers?Flu, I know you’re making fun of me for investing in Vegas. But don’t worry. I’m not leveraged and I bought at the right time. Plus I am a legal resident of Vegas, but otherwise, I live part-time in San Diego.
Read the Las Vegas Review Journal, most of the high value flips were to California investors. If the economy tanks, those investors will no longer be able to service debts.BTW, Vegas has diversified (but not as much as San Diego) since the last recession. They had to. BTW, Switch is based in Vegas.
March 17, 2020 at 1:13 PM #815687GuestLong term, food and beverage will do fine . Americans can’t give up alcohol and they can’t cook worth a shit. Malls are converting from retail to food and beverage and services. That trend will continue.
Right now, people living paycheck to paycheck won’t be able to pay bills. I don’t see how the government will get bailout money to them. Paid sick leave will pass Congress. But gig workers will not get paid sick leave or unemployment.
March 17, 2020 at 1:29 PM #815688CoronitaParticipantNot sure why would you take it personally Brian, I’m looking at this from an opportunity perspective. Afterall, nothing would make piggs happy than a crash and burn scenario that actually materializes, even me.
Nothing personal, just simply $$a$$. I think all the casinos/gaming industry here in SD will see a lot less traffic too. Not sure why you would be getting all defensive about this if it is amplified in LV or any other hotbed economy built strictly on gaming. If you are in denial and think otherwise, you’re definitely entitled to your opinion and like we always say, time will tell. No need to get personal about it.
As far as the casinos going under. Yes, some casinos will do fine. Some aren’t so well capitalized, but I don’t see that as the main problem, because as Friend alluded to, businesses can always change their business model and survive. I’m talking about all the hourly workers that will see their jobs suddenly vanish and not come back, if the industry changes, accelerated by the current environment. And what matters for rent and housing prices is those regular people that need a place to live. Now there are a few scenarios. The officials in other regions hard hit could adopt a plan similar to Newsom and have a moratorium on rent, foreclosures, utility bills too. And it’s maybe more likely in a hard hit region, so while it might hurt some people who count on rental income, in the long scheme, if it can slow down a mass exodus, maybe that’s a good thing and a small price to pay for landlords there to offer temporary free rent. Part of the cost of doing business in the high risk, high return investment.
At the other extreme, nothing can be done, and people, well just leave. And that could crater home prices.If you don’t believe this, than none of this this should worry you and you shouldn’t feel so defensive talking about it. Afterall, we’re just looking for great deals and opportunities at other people’s expenses. Right? That’s what many of you guys here have been saying all along… Inclusive, right? So if it crashes and burn, which looks more likely, that’s actually really good news from an investment perspective. Bring it on!. More good buys for us in the long term.
The the key important thing to remember is the following. Public health far more important than any sort of short term economic pain, no matter how severe it is. I’m glad that out of all things, finally this administration has made this decision.
I’m glad we are now starting to close stores, venues, bars, restaurants, to reduce infection. Even if that causes a massive economic crash in some areas, it’s a necessary thing to do out of the well being and concern for all the people in the this country. One small involuntary financial sacrifice that a small insignificant percentage of the population need to make for the the greater good of everyone else.. So, I think you’re looking at this wrong Brian. If you really do own property in Las Vegas, I’m sure the majority of the population really appreciate any sort of financial assistance you might be providing for them, voluntarily or involuntarily by government decree.March 17, 2020 at 1:30 PM #815690sdduuuude
Participant[quote=zk][quote=sdduuuude]In the US today, of the 3916 active cases, only 12 are serious or critical. Seems like that is a lower percentage than it was a couple days ago but I don’t really remember. It is much lower than Italy’s 8%.
Things are looking genuinely exponential, though. Maybe we’ll see in the data effects of this weekends shutdowns around the 27th or so.
https://www.worldometers.info/coronavirus/country/us/%5B/quote%5D
That’s the number of confirmed, tested cases (over 5,000 now). Until tests are way, way, WAY easier to get, we won’t know what’s happening. We really have no idea how many cases there are.
https://www.theatlantic.com/science/archive/2020/03/who-gets-tested-coronavirus/607999/%5B/quote%5D
Yes, but we do know that the people who are tested are the worst off so if the critical cases-to-total cases ratio is down, that is even better news, given limited testing.
March 17, 2020 at 1:34 PM #815691GuestFlu, nothing personal…. just read your own posts about Vegas on this Covid 19 thread. You brought it up. Not me.
As far a Vegas housing goes, I would worry about California investor groups that bought large apartment complexes for $250k per door. Will they be able to keep those apartments rented, while paying maintenance, management and debts.
Many of the assets were flipped to outside investor groups.
March 17, 2020 at 1:34 PM #815692GuestCasino bankruptcies? Sounds great! He flu let’s pool our funds and buy one. We can turn it into a giant homeless shelter and collect section 8 rents from displaced coastal elites. We can call it Brian world
March 17, 2020 at 1:36 PM #815693Guest[quote=FlyerInHi]Flu, nothing personal…. just read your own posts about Vegas on this Covid 19 thread. You brought it up. Not me.
As far a Vegas housing goes, I would worry about California investor groups that bought large apartment complexes for $250k per door. Will they be able to keep those apartments rented, while paying maintenance, management and debts.
Many of the assets were flipped to outside investor groups.[/quote]
When you are leveraged you can walk away and limit your losses. When you own absolutely with no leverage every dollar of decline is another cut. I wouldn’t be so happy about the lack of leverage in Vegas. That’s called being trapped in an investment you can’t walk away from
March 17, 2020 at 1:45 PM #815695CoronitaParticipant[quote=TheBrianNarrative][quote=FlyerInHi]Flu, nothing personal…. just read your own posts about Vegas on this Covid 19 thread. You brought it up. Not me.
As far a Vegas housing goes, I would worry about California investor groups that bought large apartment complexes for $250k per door. Will they be able to keep those apartments rented, while paying maintenance, management and debts.
Many of the assets were flipped to outside investor groups.[/quote]
When you are leveraged you can walk away and limit your losses. When you own absolutely with no leverage every dollar of decline is another cut. I wouldn’t be so happy about the lack of leverage in Vegas. That’s called being trapped in an investment you can’t walk away from[/quote]
It depends, right? Whether that leverage is recourse or non-recourse.
Well, then Brian, good you aren’t taking it personally. You won’t mind if we discuss the gaming industry and LV in the context of the coronavirus then. And like I said, nothing to worry about if you don’t think it’s true. We are all just speculating different scenarios on piggs. And if you don’t like what is being said, you can always hit the ignore button.
March 17, 2020 at 1:50 PM #815696GuestFlu, you can speculate away. Seems like you have this obsession with Vegas. There is more to the economy than Vegas, but you keep on bringing it up.
Pechanga is a major economic driver in Temecula. How will housing be affected in Temecula? Perhaps quite a bit if people can’t make their mortgages.
March 17, 2020 at 2:22 PM #815697Guest[quote=FlyerInHi]Flu, you can speculate away. Seems like you have this obsession with Vegas. There is more to the economy than Vegas, but you keep on bringing it up.
Pechanga is a major economic driver in Temecula. How will housing be affected in Temecula? Perhaps quite a bit if people can’t make their mortgages.[/quote]
Yes Vegas is not just gaming its a big convention and entertainment town also! I had tickets booked to a concert and convention in May. Both have already been cancelled. Numerous others as well.
March 17, 2020 at 2:25 PM #815698Guest[quote=Coronita][quote=TheBrianNarrative][quote=FlyerInHi]Flu, nothing personal…. just read your own posts about Vegas on this Covid 19 thread. You brought it up. Not me.
As far a Vegas housing goes, I would worry about California investor groups that bought large apartment complexes for $250k per door. Will they be able to keep those apartments rented, while paying maintenance, management and debts.
Many of the assets were flipped to outside investor groups.[/quote]
When you are leveraged you can walk away and limit your losses. When you own absolutely with no leverage every dollar of decline is another cut. I wouldn’t be so happy about the lack of leverage in Vegas. That’s called being trapped in an investment you can’t walk away from[/quote]
It depends, right? Whether that leverage is recourse or non-recourse.
Well, then Brian, good you aren’t taking it personally. You won’t mind if we discuss the gaming industry and LV in the context of the coronavirus then. And like I said, nothing to worry about if you don’t think it’s true. We are all just speculating different scenarios on piggs. And if you don’t like what is being said, you can always hit the ignore button.[/quote]
I believe it is recourse! Thats another business opportunity. We can buy bankrupt casinos and can rent them back to the goverment as debtors prisons.
March 17, 2020 at 2:30 PM #815700CoronitaParticipantRebate checks coming soon! Lol…
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