[barnaby33]

Yes and 15 years ago it was Japanese. So are we that insecure about our dominance of world finance? The commies have a long way to go before they surpass us in any meaningful manner, oh and a bloody civil war or two to avoid.

Josh

[barnaby33]

Let me ask a counter question, one that you should have more insight into? If there were no lowering of lending standards, would most or even any of these units have ever been built?

Builders have to have some idea of who is going to buy before they get funding to build. So if we hadn’t had a huge liquidity push after 9/11, would downtown look anything like it does now? How about San Elijo Hills? I think of that as downtown for North County.

Josh

[barnaby33]

I believe that SoCalMtgGuy called that the, “dead cat bounce.” As in don’t be fooled by the dead cat bounce!

Josh

[barnaby33]

Um excuse me and this applies to everyone here. Since when is 500k a first time buyer? I make more than 75% of the households on my own and I am not looking at 500k for a first time purchase. Based on a Rich’s article last week in the Voice, I am looking at 360k tops.

Josh

[barnaby33]

Im going to go out on a limb here, but AG probably isn’t reading this site. I know brand me as a heretic but please don’t hold your breath for him to answer, allow me to do so as his proxy.

I, AG, am a banker. As such I do and say things which are good for banks. Many people feel that what is good for the banks is good for America as a whole and while in a macro sense that may be so, I cannot garuantee that on an individual level it pans out that way.

As to why I recommended that Americans might benefit from ARM mortgages let me say with a mimimum of obfuscation that from my point of view they are less risky. From my perspective when my or any other bank lends out money it is gambling that the opportunity cost of doing so is not so high as to make the loan a bad investment. With ARM loans that is less possible because the interest rate tends to adjust to keep pace with current lending rates.

What I would like to tell borrowers is that those fixed rate mortgages really represent insurance, a very expensive form of insurance against rising rates. If I’m wrong, well my house is paid for.

I like to sweep over the minor details, such as financing long term obligations with short term financing tends to transfer risk from the lender to the borrower. After all I am a banker and I do and say what is good for banks.

Josh impersonating AG

[barnaby33]

That guy actually sounded like a solid knowledgeable agent. I thought they were extinct.

Josh

[barnaby33]

Where do you go to monitor bond yields? I have read a few primers on the bond market but am still in the dark on it, do you have a good link or two? Say bonds for dummies.

Josh

[barnaby33]

Luckily, girls wouldn’t have anything to do with me in High School. I got into computers instead. When I choose a major Comp Sci was it. The point is its not so important that your kids do well in math or science per se as that they are exposed to it by their parents. Couple that with the expectation that they will not take the easiest major, or the one with the most hot chicks and they are well on their way to making good choices. You can’t force your kids into engineering or technical fields, but if you give them exposure to it early enough and make them take a few steps in that direction it will seem a whole lot less mysterious when they have to make their own choices. I for one never got past algebra 2 in high school and I had to take calc 2 and linear algebra twice in college.

Playing video games neither helps nor hinders your childs exposure to computers and science. Its a non issue. Getting them to build a PC, install an operating system or make a web page or even build a better mouse trap that gives them the sort of knowledge that leads to good choices.

Oh and it doesn’t hurt to talk about such people in a positive light either. Too often engineers and scientists are seen as nerds, even still.

Josh

[barnaby33]

I remember specifically from my expedition to craneville how high the HOA’s were. I couldn’t figure out what I was getting for that money. Acqua Vista was especially absurd at 500/month. I would love to hear from a couple of people who live downtown (if there are any on this board) as to what the HOA fees cover and how high they are per development.

Josh

[barnaby33]

I had hoped we were going to stay out of political bashing, so I will refrain from pointing out the sheer hypocrisy of your last sentence.

Josh

[barnaby33]

Did you sell in MH or Uni Heights? Where did you goto? My job situation, or rather its flux makes that central area very desirable for me. I would consider lots of places to live but MH is my first choice, Del Mar my second.

Josh

[barnaby33]

Yes but a boy can dream. I will probably keep going to open houses there, even though I can’t afford it, just to get to know it.

Josh

[barnaby33]

Mostly over the 1 million mark. To be fair though the whole area is much nicer than Hillcrest and or Northpark. Still the cost is prohibitive.

Josh

[barnaby33]

I would shorten it if I were you. You want to be explicit but you also need to be concise.

Josh

[barnaby33]

How did MBS’s become the largest component of bonds so quickly? It seems like in the last year or so there has been alot of talk about them and their potential effects on our economy, but haven’t they existed for quite some time? I realize that the great American equity cash-out of the last few years greatly increased the amount of MBS, but where did it all begin?

Josh

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