Why I am leaving San Diego

[jstoesz]

Brian, I agree…but with everything it takes two to tango. They banks were uniformly stupid across the country…what makes So Cal and the zonies so much worse off is their greed/stupidity/materialism/susceptibility to heard mentality…aka a general lack of character.

[briansd1]

[quote=jstoesz]Brian, I agree…but with everything it takes two to tango. They banks were uniformly stupid across the country…what makes So Cal and the zonies so much worse off is their greed/stupidity/materialism/susceptibility to heard mentality…aka a general lack of character.[/quote]

That’s where the speculative mindset that feeds on itself comes in.

Very quickly, my theory is that areas with high immigrant populations have faster rates of household formation during economic booms (faster than the real estate industry can gear up and build to fulfill the demand).

Of course, the builders tend to build only the more expensive houses where the profits are greater.

The sellers then feel emboldened by the rapid rise in house prices, appraiser feel free to push the envelope, banks feel confident lending (and develop more exotic products to bridge the affordability gap) and then everyone develops that speculative mindset.

Prices rise much more rapidly than they fall because of stickiness. That’s why I expect high-priced areas to have a longer period of stagnation for inflation to catch up.

[briansd1]

[quote=jstoesz]Brian, I agree…but with everything it takes two to tango. They banks were uniformly stupid across the country…what makes So Cal and the zonies so much worse off is their greed/stupidity/materialism/susceptibility to heard mentality…aka a general lack of character.[/quote]

That’s where the speculative mindset that feeds on itself comes in.

Very quickly, my theory is that areas with high immigrant populations have faster rates of household formation during economic booms (faster than the real estate industry can gear up and build to fulfill the demand).

Of course, the builders tend to build only the more expensive houses where the profits are greater.

The sellers then feel emboldened by the rapid rise in house prices, appraiser feel free to push the envelope, banks feel confident lending (and develop more exotic products to bridge the affordability gap) and then everyone develops that speculative mindset.

Prices rise much more rapidly than they fall because of stickiness. That’s why I expect high-priced areas to have a longer period of stagnation for inflation to catch up.

[briansd1]

[quote=jstoesz]Brian, I agree…but with everything it takes two to tango. They banks were uniformly stupid across the country…what makes So Cal and the zonies so much worse off is their greed/stupidity/materialism/susceptibility to heard mentality…aka a general lack of character.[/quote]

That’s where the speculative mindset that feeds on itself comes in.

Very quickly, my theory is that areas with high immigrant populations have faster rates of household formation during economic booms (faster than the real estate industry can gear up and build to fulfill the demand).

Of course, the builders tend to build only the more expensive houses where the profits are greater.

The sellers then feel emboldened by the rapid rise in house prices, appraiser feel free to push the envelope, banks feel confident lending (and develop more exotic products to bridge the affordability gap) and then everyone develops that speculative mindset.

Prices rise much more rapidly than they fall because of stickiness. That’s why I expect high-priced areas to have a longer period of stagnation for inflation to catch up.

[briansd1]

[quote=jstoesz]Brian, I agree…but with everything it takes two to tango. They banks were uniformly stupid across the country…what makes So Cal and the zonies so much worse off is their greed/stupidity/materialism/susceptibility to heard mentality…aka a general lack of character.[/quote]

That’s where the speculative mindset that feeds on itself comes in.

Very quickly, my theory is that areas with high immigrant populations have faster rates of household formation during economic booms (faster than the real estate industry can gear up and build to fulfill the demand).

Of course, the builders tend to build only the more expensive houses where the profits are greater.

The sellers then feel emboldened by the rapid rise in house prices, appraiser feel free to push the envelope, banks feel confident lending (and develop more exotic products to bridge the affordability gap) and then everyone develops that speculative mindset.

Prices rise much more rapidly than they fall because of stickiness. That’s why I expect high-priced areas to have a longer period of stagnation for inflation to catch up.

[briansd1]

[quote=jstoesz]Brian, I agree…but with everything it takes two to tango. They banks were uniformly stupid across the country…what makes So Cal and the zonies so much worse off is their greed/stupidity/materialism/susceptibility to heard mentality…aka a general lack of character.[/quote]

That’s where the speculative mindset that feeds on itself comes in.

Very quickly, my theory is that areas with high immigrant populations have faster rates of household formation during economic booms (faster than the real estate industry can gear up and build to fulfill the demand).

Of course, the builders tend to build only the more expensive houses where the profits are greater.

The sellers then feel emboldened by the rapid rise in house prices, appraiser feel free to push the envelope, banks feel confident lending (and develop more exotic products to bridge the affordability gap) and then everyone develops that speculative mindset.

Prices rise much more rapidly than they fall because of stickiness. That’s why I expect high-priced areas to have a longer period of stagnation for inflation to catch up.

[jstoesz]

Blame the Mexicans, eh? Brian, I had you all wrong!

[jstoesz]

Blame the Mexicans, eh? Brian, I had you all wrong!

[jstoesz]

Blame the Mexicans, eh? Brian, I had you all wrong!

[jstoesz]

Blame the Mexicans, eh? Brian, I had you all wrong!

[jstoesz]

Blame the Mexicans, eh? Brian, I had you all wrong!

[paramount]

There is a certain brutality unique to life in Southern California.

[paramount]

There is a certain brutality unique to life in Southern California.

[paramount]

There is a certain brutality unique to life in Southern California.

[paramount]

There is a certain brutality unique to life in Southern California.

[Author]

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