Why I am leaving San Diego

[jpinpb]

[quote=jstoesz]Those curves imo are kind of useless. I don’t want really affordable payments on a vastly overpriced asset. That is a recipe for a complete disaster. Not just a small disaster, but end of your fiscal life type disaster.

Furthermore, that is SD county which has on the aggregate come down. This includes all manner of neighborhoods, from Jamul to la jolla. I would like to see that curve by zip code. Now that would be enlightening.[/quote]

x2. Sure I can afford to live in the outskirts or ghetto. Just b/c I can afford it, doesn’t mean it is a good financial move, or even safe move.

There are some pretty cheap homes that have come up in City Heights that are close to 2001 pricing. Just b/c I can afford it doesn’t mean I should buy there just for the sake of living in San Diego. While I’m not aspiring to live in Del Mar or La Jolla, I’d like to do better than City Heights.

For me, I guess as long as I can rent somewhere decent, then buying isn’t an urgency. It would be nice to find something to buy close to what I’m renting in my area.

[briansd1]

[quote=jpinpb]
For me, I guess as long as I can rent somewhere decent, then buying isn’t an urgency. It would be nice to find something to buy close to what I’m renting in my area.[/quote]

Exactly. I’m the same. I don’t need to buy to be happy. Just save the difference.

[briansd1]

[quote=jpinpb]
For me, I guess as long as I can rent somewhere decent, then buying isn’t an urgency. It would be nice to find something to buy close to what I’m renting in my area.[/quote]

Exactly. I’m the same. I don’t need to buy to be happy. Just save the difference.

[briansd1]

[quote=jpinpb]
For me, I guess as long as I can rent somewhere decent, then buying isn’t an urgency. It would be nice to find something to buy close to what I’m renting in my area.[/quote]

Exactly. I’m the same. I don’t need to buy to be happy. Just save the difference.

[briansd1]

[quote=jpinpb]
For me, I guess as long as I can rent somewhere decent, then buying isn’t an urgency. It would be nice to find something to buy close to what I’m renting in my area.[/quote]

Exactly. I’m the same. I don’t need to buy to be happy. Just save the difference.

[briansd1]

[quote=jpinpb]
For me, I guess as long as I can rent somewhere decent, then buying isn’t an urgency. It would be nice to find something to buy close to what I’m renting in my area.[/quote]

Exactly. I’m the same. I don’t need to buy to be happy. Just save the difference.

[briansd1]

[quote=CA renter]

Also, realize that many of the domestic “all cash” purchases are being made because people with cash are very, very fearful of inflation…AND they have nowhere to put their money where they can earn any kind of yield because of all the Fed/govt intervention. [/quote]

Show me some examples of homeowners (not investors) paying all cash in the ordinary neighbors you’re considering. Parcel #s please. Did they overbid other buyers?

Credit is cheap so ordinary people borrow, they don’t pay all cash. Ordinary people generally don’t have all cash.

[quote=CA renter]

This intervention feeds through the entire system; it’s not just about one specific housing program, etc., they are feeding the bubble (AGAIN!) from every single direction [/quote]

The Fed is trying to get people to borrow again.

Cash is still a problem for most buyers. That’s why underwriting is still loose to encourage people to borrow.

I don’t support the Fed’s monetary policy because the money goes to the banks for speculative purposes. I would much rather have a fiscal stimulus that goes to education, pays people to build infrastructure, and puts the money in the pockets of ordinary people.

Monetary policy is not working because consumers are cutting debt.
http://money.cnn.com/2010/11/08/news/economy/ny_fed_household_credit/index.htm

Banks are easing.
http://online.wsj.com/article/SB10001424052748703514904575602333080562538.html

[briansd1]

[quote=CA renter]

Also, realize that many of the domestic “all cash” purchases are being made because people with cash are very, very fearful of inflation…AND they have nowhere to put their money where they can earn any kind of yield because of all the Fed/govt intervention. [/quote]

Show me some examples of homeowners (not investors) paying all cash in the ordinary neighbors you’re considering. Parcel #s please. Did they overbid other buyers?

Credit is cheap so ordinary people borrow, they don’t pay all cash. Ordinary people generally don’t have all cash.

[quote=CA renter]

This intervention feeds through the entire system; it’s not just about one specific housing program, etc., they are feeding the bubble (AGAIN!) from every single direction [/quote]

The Fed is trying to get people to borrow again.

Cash is still a problem for most buyers. That’s why underwriting is still loose to encourage people to borrow.

I don’t support the Fed’s monetary policy because the money goes to the banks for speculative purposes. I would much rather have a fiscal stimulus that goes to education, pays people to build infrastructure, and puts the money in the pockets of ordinary people.

Monetary policy is not working because consumers are cutting debt.
http://money.cnn.com/2010/11/08/news/economy/ny_fed_household_credit/index.htm

Banks are easing.
http://online.wsj.com/article/SB10001424052748703514904575602333080562538.html

[briansd1]

[quote=CA renter]

Also, realize that many of the domestic “all cash” purchases are being made because people with cash are very, very fearful of inflation…AND they have nowhere to put their money where they can earn any kind of yield because of all the Fed/govt intervention. [/quote]

Show me some examples of homeowners (not investors) paying all cash in the ordinary neighbors you’re considering. Parcel #s please. Did they overbid other buyers?

Credit is cheap so ordinary people borrow, they don’t pay all cash. Ordinary people generally don’t have all cash.

[quote=CA renter]

This intervention feeds through the entire system; it’s not just about one specific housing program, etc., they are feeding the bubble (AGAIN!) from every single direction [/quote]

The Fed is trying to get people to borrow again.

Cash is still a problem for most buyers. That’s why underwriting is still loose to encourage people to borrow.

I don’t support the Fed’s monetary policy because the money goes to the banks for speculative purposes. I would much rather have a fiscal stimulus that goes to education, pays people to build infrastructure, and puts the money in the pockets of ordinary people.

Monetary policy is not working because consumers are cutting debt.
http://money.cnn.com/2010/11/08/news/economy/ny_fed_household_credit/index.htm

Banks are easing.
http://online.wsj.com/article/SB10001424052748703514904575602333080562538.html

[briansd1]

[quote=CA renter]

Also, realize that many of the domestic “all cash” purchases are being made because people with cash are very, very fearful of inflation…AND they have nowhere to put their money where they can earn any kind of yield because of all the Fed/govt intervention. [/quote]

Show me some examples of homeowners (not investors) paying all cash in the ordinary neighbors you’re considering. Parcel #s please. Did they overbid other buyers?

Credit is cheap so ordinary people borrow, they don’t pay all cash. Ordinary people generally don’t have all cash.

[quote=CA renter]

This intervention feeds through the entire system; it’s not just about one specific housing program, etc., they are feeding the bubble (AGAIN!) from every single direction [/quote]

The Fed is trying to get people to borrow again.

Cash is still a problem for most buyers. That’s why underwriting is still loose to encourage people to borrow.

I don’t support the Fed’s monetary policy because the money goes to the banks for speculative purposes. I would much rather have a fiscal stimulus that goes to education, pays people to build infrastructure, and puts the money in the pockets of ordinary people.

Monetary policy is not working because consumers are cutting debt.
http://money.cnn.com/2010/11/08/news/economy/ny_fed_household_credit/index.htm

Banks are easing.
http://online.wsj.com/article/SB10001424052748703514904575602333080562538.html

[briansd1]

[quote=CA renter]

Also, realize that many of the domestic “all cash” purchases are being made because people with cash are very, very fearful of inflation…AND they have nowhere to put their money where they can earn any kind of yield because of all the Fed/govt intervention. [/quote]

Show me some examples of homeowners (not investors) paying all cash in the ordinary neighbors you’re considering. Parcel #s please. Did they overbid other buyers?

Credit is cheap so ordinary people borrow, they don’t pay all cash. Ordinary people generally don’t have all cash.

[quote=CA renter]

This intervention feeds through the entire system; it’s not just about one specific housing program, etc., they are feeding the bubble (AGAIN!) from every single direction [/quote]

The Fed is trying to get people to borrow again.

Cash is still a problem for most buyers. That’s why underwriting is still loose to encourage people to borrow.

I don’t support the Fed’s monetary policy because the money goes to the banks for speculative purposes. I would much rather have a fiscal stimulus that goes to education, pays people to build infrastructure, and puts the money in the pockets of ordinary people.

Monetary policy is not working because consumers are cutting debt.
http://money.cnn.com/2010/11/08/news/economy/ny_fed_household_credit/index.htm

Banks are easing.
http://online.wsj.com/article/SB10001424052748703514904575602333080562538.html

[briansd1]

[quote=CA renter]

It is the DURATION of the downturn that will cause the most pain, not the depth.[/quote]

I kinda agree… except that we are not in a downturn anymore. I’ve had a recovery, not a strong recovery, but still a recovery.

I honestly don’t believe that if we had let the financial system completely collapse, we’d be in a recovery.

So far our $15 trillion economy is growing. If he had let it collapse to $12 trillion, we’d still be in the hole (that’s what peak buyers of real estate are facing; they won’t be made whole for a long time).

[briansd1]

[quote=CA renter]

It is the DURATION of the downturn that will cause the most pain, not the depth.[/quote]

I kinda agree… except that we are not in a downturn anymore. I’ve had a recovery, not a strong recovery, but still a recovery.

I honestly don’t believe that if we had let the financial system completely collapse, we’d be in a recovery.

So far our $15 trillion economy is growing. If he had let it collapse to $12 trillion, we’d still be in the hole (that’s what peak buyers of real estate are facing; they won’t be made whole for a long time).

[briansd1]

[quote=CA renter]

It is the DURATION of the downturn that will cause the most pain, not the depth.[/quote]

I kinda agree… except that we are not in a downturn anymore. I’ve had a recovery, not a strong recovery, but still a recovery.

I honestly don’t believe that if we had let the financial system completely collapse, we’d be in a recovery.

So far our $15 trillion economy is growing. If he had let it collapse to $12 trillion, we’d still be in the hole (that’s what peak buyers of real estate are facing; they won’t be made whole for a long time).

[briansd1]

[quote=CA renter]

It is the DURATION of the downturn that will cause the most pain, not the depth.[/quote]

I kinda agree… except that we are not in a downturn anymore. I’ve had a recovery, not a strong recovery, but still a recovery.

I honestly don’t believe that if we had let the financial system completely collapse, we’d be in a recovery.

So far our $15 trillion economy is growing. If he had let it collapse to $12 trillion, we’d still be in the hole (that’s what peak buyers of real estate are facing; they won’t be made whole for a long time).

[Author]

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