What is wealth?

[briansd1]

[quote=4plexowner]I suspect that there are many people in San Diego who maintained their ‘rich and famous’ lifestyles by sucking the equity out of their real estate as the bubble grew
[/quote]

[quote=4plexowner]
they have resources to draw on – retirement savings, investments, family, credit, etc so they are able to hold on longer than others might
[/quote]

I agree with you. it’s very prevalent in my opinion.

Nothing can bail these guys out but a return to the peak plus even more appreciation.

A recovery from the bottom is of no consequence at all.

These people are still living in denial as they exhaust their resources.

[davelj]

[quote=briansd1][quote=4plexowner]I suspect that there are many people in San Diego who maintained their ‘rich and famous’ lifestyles by sucking the equity out of their real estate as the bubble grew
[/quote]

[quote=4plexowner]
they have resources to draw on – retirement savings, investments, family, credit, etc so they are able to hold on longer than others might
[/quote]

I agree with you. it’s very prevalent in my opinion.

Nothing can bail these guys out but a return to the peak plus even more appreciation.

A recovery from the bottom is of no consequence at all.

These people are still living in denial as they exhaust their resources.[/quote]

I think most of these folks have already bitten the dust. Not all, but most. Anecdotally, most of the “pretenders” that I knew that were blowin’ and goin’ (essentially, almost anything real estate or internet-related) between 2000 and 2006 fell off the party wagon a while back. They defaulted, started renting, moved in with mom, etc. a couple of years back. But… there are still some stragglers that are holding on. I think we’re about 75% through these folks at this point, with most of the remainders to fall by the middle of 2011. That’s not scientific, just a guess based on what I see happening around me. And taking into account the fact that the peak of the Bubble is almost 4 years old now. It’s not too tough to hang on for a couple of years… but 4 years… that’s unusual resilience – even for deluded Californians.

[davelj]

[quote=briansd1][quote=4plexowner]I suspect that there are many people in San Diego who maintained their ‘rich and famous’ lifestyles by sucking the equity out of their real estate as the bubble grew
[/quote]

[quote=4plexowner]
they have resources to draw on – retirement savings, investments, family, credit, etc so they are able to hold on longer than others might
[/quote]

I agree with you. it’s very prevalent in my opinion.

Nothing can bail these guys out but a return to the peak plus even more appreciation.

A recovery from the bottom is of no consequence at all.

These people are still living in denial as they exhaust their resources.[/quote]

I think most of these folks have already bitten the dust. Not all, but most. Anecdotally, most of the “pretenders” that I knew that were blowin’ and goin’ (essentially, almost anything real estate or internet-related) between 2000 and 2006 fell off the party wagon a while back. They defaulted, started renting, moved in with mom, etc. a couple of years back. But… there are still some stragglers that are holding on. I think we’re about 75% through these folks at this point, with most of the remainders to fall by the middle of 2011. That’s not scientific, just a guess based on what I see happening around me. And taking into account the fact that the peak of the Bubble is almost 4 years old now. It’s not too tough to hang on for a couple of years… but 4 years… that’s unusual resilience – even for deluded Californians.

[davelj]

[quote=briansd1][quote=4plexowner]I suspect that there are many people in San Diego who maintained their ‘rich and famous’ lifestyles by sucking the equity out of their real estate as the bubble grew
[/quote]

[quote=4plexowner]
they have resources to draw on – retirement savings, investments, family, credit, etc so they are able to hold on longer than others might
[/quote]

I agree with you. it’s very prevalent in my opinion.

Nothing can bail these guys out but a return to the peak plus even more appreciation.

A recovery from the bottom is of no consequence at all.

These people are still living in denial as they exhaust their resources.[/quote]

I think most of these folks have already bitten the dust. Not all, but most. Anecdotally, most of the “pretenders” that I knew that were blowin’ and goin’ (essentially, almost anything real estate or internet-related) between 2000 and 2006 fell off the party wagon a while back. They defaulted, started renting, moved in with mom, etc. a couple of years back. But… there are still some stragglers that are holding on. I think we’re about 75% through these folks at this point, with most of the remainders to fall by the middle of 2011. That’s not scientific, just a guess based on what I see happening around me. And taking into account the fact that the peak of the Bubble is almost 4 years old now. It’s not too tough to hang on for a couple of years… but 4 years… that’s unusual resilience – even for deluded Californians.

[davelj]

[quote=briansd1][quote=4plexowner]I suspect that there are many people in San Diego who maintained their ‘rich and famous’ lifestyles by sucking the equity out of their real estate as the bubble grew
[/quote]

[quote=4plexowner]
they have resources to draw on – retirement savings, investments, family, credit, etc so they are able to hold on longer than others might
[/quote]

I agree with you. it’s very prevalent in my opinion.

Nothing can bail these guys out but a return to the peak plus even more appreciation.

A recovery from the bottom is of no consequence at all.

These people are still living in denial as they exhaust their resources.[/quote]

I think most of these folks have already bitten the dust. Not all, but most. Anecdotally, most of the “pretenders” that I knew that were blowin’ and goin’ (essentially, almost anything real estate or internet-related) between 2000 and 2006 fell off the party wagon a while back. They defaulted, started renting, moved in with mom, etc. a couple of years back. But… there are still some stragglers that are holding on. I think we’re about 75% through these folks at this point, with most of the remainders to fall by the middle of 2011. That’s not scientific, just a guess based on what I see happening around me. And taking into account the fact that the peak of the Bubble is almost 4 years old now. It’s not too tough to hang on for a couple of years… but 4 years… that’s unusual resilience – even for deluded Californians.

[davelj]

[quote=briansd1][quote=4plexowner]I suspect that there are many people in San Diego who maintained their ‘rich and famous’ lifestyles by sucking the equity out of their real estate as the bubble grew
[/quote]

[quote=4plexowner]
they have resources to draw on – retirement savings, investments, family, credit, etc so they are able to hold on longer than others might
[/quote]

I agree with you. it’s very prevalent in my opinion.

Nothing can bail these guys out but a return to the peak plus even more appreciation.

A recovery from the bottom is of no consequence at all.

These people are still living in denial as they exhaust their resources.[/quote]

I think most of these folks have already bitten the dust. Not all, but most. Anecdotally, most of the “pretenders” that I knew that were blowin’ and goin’ (essentially, almost anything real estate or internet-related) between 2000 and 2006 fell off the party wagon a while back. They defaulted, started renting, moved in with mom, etc. a couple of years back. But… there are still some stragglers that are holding on. I think we’re about 75% through these folks at this point, with most of the remainders to fall by the middle of 2011. That’s not scientific, just a guess based on what I see happening around me. And taking into account the fact that the peak of the Bubble is almost 4 years old now. It’s not too tough to hang on for a couple of years… but 4 years… that’s unusual resilience – even for deluded Californians.

[temeculaguy]

davelj, I think you are right, of all the fakers I’ve known, most have already been flushed out, including the mini trumps. I did a little case study on an old neighborhood of mine where I knew all the names and the stories so I could follow up easily, these were pre-bubble buyers who refied their lifestyle. Out of about 16, 4 would qualify as fakers. 3 are already forclosed on/repo’d luxo autos, etc. and one is in escrow selling short as I type and has already downgraded cars, etc. I know it’s a small study, but it hit your 75% exactly.

Newtosandiego, I’m not sure a bad economy makes divorce rates skyrocket, it may just seem that way because of the timing. Sure, there are probably some marriages held together by baubles and bangles but there are many more that are staying together because of the limited opportunities, probably an equal amount. As a connoisseur of divorcees, I have noticed an abundance of trophy wives on the open market and it’s kinda fun to see them frustrated with the lack of takers.

[temeculaguy]

davelj, I think you are right, of all the fakers I’ve known, most have already been flushed out, including the mini trumps. I did a little case study on an old neighborhood of mine where I knew all the names and the stories so I could follow up easily, these were pre-bubble buyers who refied their lifestyle. Out of about 16, 4 would qualify as fakers. 3 are already forclosed on/repo’d luxo autos, etc. and one is in escrow selling short as I type and has already downgraded cars, etc. I know it’s a small study, but it hit your 75% exactly.

Newtosandiego, I’m not sure a bad economy makes divorce rates skyrocket, it may just seem that way because of the timing. Sure, there are probably some marriages held together by baubles and bangles but there are many more that are staying together because of the limited opportunities, probably an equal amount. As a connoisseur of divorcees, I have noticed an abundance of trophy wives on the open market and it’s kinda fun to see them frustrated with the lack of takers.

[temeculaguy]

davelj, I think you are right, of all the fakers I’ve known, most have already been flushed out, including the mini trumps. I did a little case study on an old neighborhood of mine where I knew all the names and the stories so I could follow up easily, these were pre-bubble buyers who refied their lifestyle. Out of about 16, 4 would qualify as fakers. 3 are already forclosed on/repo’d luxo autos, etc. and one is in escrow selling short as I type and has already downgraded cars, etc. I know it’s a small study, but it hit your 75% exactly.

Newtosandiego, I’m not sure a bad economy makes divorce rates skyrocket, it may just seem that way because of the timing. Sure, there are probably some marriages held together by baubles and bangles but there are many more that are staying together because of the limited opportunities, probably an equal amount. As a connoisseur of divorcees, I have noticed an abundance of trophy wives on the open market and it’s kinda fun to see them frustrated with the lack of takers.

[temeculaguy]

davelj, I think you are right, of all the fakers I’ve known, most have already been flushed out, including the mini trumps. I did a little case study on an old neighborhood of mine where I knew all the names and the stories so I could follow up easily, these were pre-bubble buyers who refied their lifestyle. Out of about 16, 4 would qualify as fakers. 3 are already forclosed on/repo’d luxo autos, etc. and one is in escrow selling short as I type and has already downgraded cars, etc. I know it’s a small study, but it hit your 75% exactly.

Newtosandiego, I’m not sure a bad economy makes divorce rates skyrocket, it may just seem that way because of the timing. Sure, there are probably some marriages held together by baubles and bangles but there are many more that are staying together because of the limited opportunities, probably an equal amount. As a connoisseur of divorcees, I have noticed an abundance of trophy wives on the open market and it’s kinda fun to see them frustrated with the lack of takers.

[temeculaguy]

davelj, I think you are right, of all the fakers I’ve known, most have already been flushed out, including the mini trumps. I did a little case study on an old neighborhood of mine where I knew all the names and the stories so I could follow up easily, these were pre-bubble buyers who refied their lifestyle. Out of about 16, 4 would qualify as fakers. 3 are already forclosed on/repo’d luxo autos, etc. and one is in escrow selling short as I type and has already downgraded cars, etc. I know it’s a small study, but it hit your 75% exactly.

Newtosandiego, I’m not sure a bad economy makes divorce rates skyrocket, it may just seem that way because of the timing. Sure, there are probably some marriages held together by baubles and bangles but there are many more that are staying together because of the limited opportunities, probably an equal amount. As a connoisseur of divorcees, I have noticed an abundance of trophy wives on the open market and it’s kinda fun to see them frustrated with the lack of takers.

[4plexowner]

“I have noticed an abundance of trophy wives on the open market and it’s kinda fun to see them frustrated with the lack of takers”

are you suggesting that the value of a vapid smile and fake tits has gone down with the real estate market and economy?

[4plexowner]

“I have noticed an abundance of trophy wives on the open market and it’s kinda fun to see them frustrated with the lack of takers”

are you suggesting that the value of a vapid smile and fake tits has gone down with the real estate market and economy?

[4plexowner]

“I have noticed an abundance of trophy wives on the open market and it’s kinda fun to see them frustrated with the lack of takers”

are you suggesting that the value of a vapid smile and fake tits has gone down with the real estate market and economy?

[4plexowner]

“I have noticed an abundance of trophy wives on the open market and it’s kinda fun to see them frustrated with the lack of takers”

are you suggesting that the value of a vapid smile and fake tits has gone down with the real estate market and economy?

[Author]

Posts