Forum Replies Created
-
AuthorPosts
-
bearishgurl
Participant[quote=briansd1]I’m of the belief there there bifurcation.
There is indeed inflation in food and consumer products such as Tide and pet food.
But there is stability and maybe deflation in imported products such as computers, plastic items such a laundry baskets, cell phone service, etc…
So the net number of low inflation reported by the government is believable to me.[/quote]
Agree with this, brian.
Participant[quote=pri_dk][quote=Rich Toscano]BG, I believe you are misunderstanding the point of the post.[/quote]
[whatever the heck she is rambling about now] is not actually germane to the topic […][/quote]
pri_dk, why don’t you tell us where you obtained the (bolded) “quote” above??
Participant[quote=Rich Toscano]That’s just silly SDR… don’t you know that we are at the brink of a deflationary spiral?
BG, I believe you are misunderstanding the point of the post. SDR’s point is that prices of staples and the like have risen substantially. The fact that you use coupons, buy dented cans, etc, to reduce your shopping bill from what it otherwise would have been is not actually germane to the topic of whether prices of staples are rising in general….[/quote]
Rich, I fully understand that prices of food and commodities, gas and everything else a typical household uses has risen substantially in recent years. (For instance, I’ve had pets all of my life and KNOW what pet food/supplies USED to cost.)
All I’m saying is that there is more than one way to “skin a cat” when it comes to groceries. There are several ways to buy/acquire them which does NOT involve “paying retail.”
If one is “hell bent” on paying retail, far be it from me to suggest ways to economize.
I don’t care if you continue to “ignore” me, SDR. Just be prepared to keep opening your wallet wide at the grocery store :=]
Participant. . . In it, they make a startling claim: “From the mid-1980s to 2005, California’s population grew by 10 million . . . “
Which begs the question, How did this happen? How did CA obtain an additional 3.5M+ more housing units over 25 years (to house this “influx” of 10M people)?
Which other states’ elected officials were dumb enough to approve massive residential tract development of this magnitude?
Second question: Did CA really “need” all these additional housing units (built since the “mid-’80’s??”) In other words, were the residents already there to buy them or did they lure more out-of-state residents in (due to their lower asking prices [NOT hidden costs])? If so, was it in CA’s best interest to absorb all these transplants?
Third question: Would CA and its local jurisdictions have been on far more solid financial footing if it wasn’t for the “greed” of its various elected officials at all levels of govm’t voting to permit endless tracts of residential development??
The article mentions “Stockton” as the next city to go “bust.”
Off the top of my head, I’ll add to that list:
* Merced
* Salinas
* Paso Robles
* Fresno
* Elk City
* upper Ventura County jurisdictions
* eastern RIV County jurisdictions (ie Moreno
Valley, Hemet, etc)
* northern SB County jurisdictions (ie Adelanto)
* Tracy and, to a lesser extent Turlock
* Imperial County (+ El Centro and Brawley)
* and, very possibly, City of San DiegoThere must be more that I can’t think of right at the moment :=0
CA’s “urban sprawl” is and will prove to be a “crushing burden” for the local governments to service properly, IMO. Those areas turned into “ghost towns” will still have to be “managed properly” in the near and far future or torn down.
ParticipantFolks on “Medicaid,” (Medi-Cal) in CA, are usually indigent (or close to it). Most of them are on SSD, SSI or TANF. When an individual is collecting SSD, I don’t believe they are allowed to have W-2 income. If they do, they can lose their SSD benefit. Thus, the majority of people on Medi-Cal are NOT required to file an income-tax return.
Persons incarcerated in state or Federal prison do not typically have income and thus would not be required to file an income tax return. This doesn’t preclude their non-incarcerated spouse to file one, however, but it likely wouldn’t be a “joint-return.”
ParticipantIt could be partly due to the population aging. Seniors on fixed incomes often get to a point where filing an income tax return is not required.
ParticipantI have several pets and am quite often able to buy them heavily discounted premium food in taped-up (broken) bags and boxes and bent cans (at the Navy Commissary and other stores, such as Vons and Ralphs and occasionally, Albertsons).
Yes, Tide is very expensive and always was but there are much cheaper alternatives out there (with avail $1.50 to $3.00 coupons in the newspaper and pennysaver).
So, there ARE ways to (economically) feed a pet and wash clothes for the persistent shopper :=]
ParticipantSM and SC counties (north of SJ) are a shining example of good planning, IMO. Being surrounded on two lengthy sides by water no doubt helped, lol. There was no way for its local politicians to become “greedy” over bond money and developer fees when the vast bulk of it was developed and its open space set aside PRIOR to the passing of the Mello-Roos Community Facilities District Act, that is, except for “Foster City,” which was dredged out of the bay (similar to SD’s Harbor and Shelter Islands) and later massively developed.
http://en.wikipedia.org/wiki/Mello-Roos
This short-sighted greed by CA local politicians over bond $$ for infrastructure, developer fees and additional property tax money over the last three decades (but mostly in the last decade) has wrought untold financial havoc on cities and counties throughout the state. The public officials voting for all this new development could only think at the time of having the money for “growing” their respective governments. They obviously didn’t realize at the time that if they grew their governments (to take care of a bigger population) that if the time came where they had to do layoffs, there would be a HUGE impact on services to the “entire” population (both newcomers AND the longtime residents) :=[
Obviously, all these local “politicos” could think of when they were voting was $$$ to increase their “power” and standing on the map.
This unchecked greed is the sole cause of the formation of CA ghost towns, now and into the future, IMHO.
Participant[quote=SmellsFeeshy]Thanks for the links BG. That blog does seem to have a lot of good info. However, being that she is a realtor herself I am a little skeptical that she isn’t trying to make it sound like the market is hotter than it really is. It does appear though based on the inventory and number of properties pending that it is a sellers market at least on the peninsula and that properties are selling rather quickly.
I’m not looking to purchase anything right away, probably would be at least a year before I figure out which areas I like/don’t like and also would need to see if I want to actually settle down in the Bay Area for the long term.
Milpitas does look good in terms of pricing and SFRs that fit my criteria but I’m really not familiar with the city at all so I’d have to actually go and hang out there for a while to see how I like it. Also since prices are cheaper than the Peninsula I’m guessing traffic is probably pretty bad, sort of like living in North County SD and commuting to San Diego proper.[/quote]
smellsfeeshy, I think that is a great blog and breaks down the recent sales in groups, etc. I wouldn’t worry that it is a “realtor’s” blog. There is no obligation to sign up to use the tools there and if you sign up, she won’t even know your name.
Look at how long SFR’s stay on the market in your area of choice and that will tell the tale whether they are actually “selling like hotcakes” … or not.
The “commute” from the vicinity of the Capitol Expwy and US-101 in SJ to SF (SOMA) is approx 52-54 miles and takes about one hour when the traffic is constantly moving. I-280 and US-101 are very busy in both directions during rush hour with the a.m. southbound and p.m. northbound slightly heavier.
SFR tracts in what is now the Silicon Valley (mostly in SC Co) were developed in the ’50’s thru the ’70’s (mostly ’50’s and ’60’s). As you know, parts of it are zoned comm’l, industrial and a LARGE part is protected open space, which will never change. Unless for comm’l development or an “infill” (teardown) project, it is doubtful any of these jurisdictions would issue permits for new construction today as there isn’t any land to build on and hasn’t been any for many years.
The good planning and forethought of SM and SC counties’ forefathers as well as VERY close proximity to GREAT jobs is what drives up the price of SFR’s in SV. The quality of life is very high there for those that don’t commute long distances to work.
If you are seeking a suburban (or exurban) “SD North County lifestyle,” San Mateo (SM) and Santa Clara (SC) counties are probably not the places for you to purchase in, given the price range you stated here.
Based on your last post, I feel it is probably better for you to rent and get to know the area in your off hours.
Participant[quote=Nor-LA-SD-GUY2]Chicken/egg thing again,
No inventory because can’t raise prices so very very few voluntary sellers,Can’t raise prices because every once in a while a beat-up foreclosure or desperate short sale occurs knocking down the comps keeping a lid on prices so even if a buyer was willing to pay up, they can’t get approved for the loan,
Welcome to frustration land.[/quote]
Agree with this, Nor LA, except that in many areas, these “distress” sales do not occur “every once in a while.” They are 80-90% of recent sales and have been for awhile.
The areas where there is a prevalence of “all cash” purchases or 40%+ down purchases (where buyers “could” get approved for a loan or don’t even need a loan) DO have more well-maintained “equity sale” properties available. But these are NOT the areas first-timers or young “worker bee” buyers either typically shop in or buy into.
This “worker-bee, school-age children set” of today seems to want to all flock to the same areas, engage in their own “bidding wars” with each other and thus, drive up their OWN prices :=}
ParticipantA cursory check on townhomes in Milpitas shows 35 listings with at least 2/2. There seem to be quite a few listings that are *newer* construction.
Participant[quote=SmellsFeeshy]Thanks BG. I am a software engineer so most likely would like to purchase somewhere on the Peninsula or near SV to the close to the tech centers. Just looking casually at Redfin it seems that the inventory for houses/condos in that area is much lower than down here in SD. I guess there is probably just more demand and people with money to buy up in the bay.
Most likely if I did buy I would be looking for a 2/2 condo on the Peninsula or maybe north SJ (near Milpitas). Preferably something built in the 80’s or newer with a 2 car garage and definitely washer/dryer in unit.
Based on my casual research I’m estimating something like that would probably run in the $550-700k range in those areas? Are there any specific areas that might have properties that meet those criteria that I could focus on? Seems that the majority of properties on the Peninsula are old and really expensive.[/quote]
smellsfeeshy, I found a really well laid-out RE blog over the weekend that may be of interest to you. You can sign up with an e-mail address and password to use all the (helpful) tools in it with no obligation.
According to this blog, the SFR market in Santa Clara County is currently “white hot” and there is very, very little inventory on the market.
You are correct in that very little (if any) *newer* construction exists in this area.
If you simply MUST have an SFR newer than 30 years old, I would suggest looking across the Dumbarton bridge in the eastern edge of Fremont or beyond, or below SJ. However, you will commute to work from these areas, whereas if you live in the general vicinity of your job, you will have a short commute or no commute.
I would choose the latter if I were you.
see: http://sanjoserealestatelosgatoshomes.com/
http://sanjoserealestatelosgatoshomes.com/category/market-reports/
Here’s a good condo report for Santa Clara County:
Hopefully, you have already rented a place and can shop for listed property during your off hours once you get settled in.
Participant[quote=urbanrealtor][quote=SD Realtor]ummm…. if there are more buyers then inventory then wouldn’t that be characterized as a sellers market?[/quote]
yeah….so much for paying attention when I write.
Yes.
A seller’s market.
Wow.[/quote]Agreed, UR. With a couple of caveats. It’s a “sellers’ market” for deadbeat “sellers” along with recent “beneficiaries” and “successful purchasers” of trustees’ deeds.
For a “real” homeowner (with equity) considering listing their property for sale, the current market is NOT your market.
Participant[quote=sdrealtor]Another one of the handful of listings I saw this morning went pending. Now all that is left are a short sales that are mostly in lousy locations. Its gonna be an interesting Spring. I didnt expect it to be this tight.[/quote]
More thread “pollution” . . . :=]
Didn’t we already discuss the whys and wherefores ad nauseum why “real” homeowners (who actually have “equity”) and who followed all the rules over the years are unlikely to list in this current “climate” (which is slanted towards listings “owned” by deadbeats)??
http://piggington.com/poll_how_many_people_do_you_know_waiting_for_a_better_market_to
http://piggington.com/people_who_can039t_afford_their_house_but_get_to_keep_it
I’ll say it again. You can’t have it both ways.
-
AuthorPosts
