Forum Replies Created
-
AuthorPosts
-
bearishgurl
Participant[quote=pri_dk]Lots of fairly high-priced restaurants in Temecula/Murietta are packed on weekends. It’s supposed to be one of the epicentres of the housing crisis, but you’d never know the economy took a hit if you only observed the traffic in these restaurants.
It bugs my wife because I always ponder it every time we eat out. My only theory is that it is strategic defaulters with extra cash flow because they are not paying their mortgages. But I’ve been observing this for years, and I’m still perplexed.[/quote]
pri dk, Temecula/Murietta is a lower-cost housing area. There are MANY homeowners there who DID NOT purchase their properties at high prices (they purchased pre-bubble). In addition, there are many lower-cost rentals there and even a few mobile home parks.
Not everyone has high living expenses or high property taxes. MANY people (including most Mexicans living in MX) have FAR cheaper living expenses than a “typical Pigg.” Therefore, they have more discretionary income for restaurants and entertainment.
LOTS of people eat out almost daily in lower cost-of-living regions of the US. MANY eat in the SAME 1-3 restaurants night after night.
Participant[quote=pri_dk]Lots of fairly high-priced restaurants in Temecula/Murietta are packed on weekends. It’s supposed to be one of the epicentres of the housing crisis, but you’d never know the economy took a hit if you only observed the traffic in these restaurants.
It bugs my wife because I always ponder it every time we eat out. My only theory is that it is strategic defaulters with extra cash flow because they are not paying their mortgages. But I’ve been observing this for years, and I’m still perplexed.[/quote]
pri dk, Temecula/Murietta is a lower-cost housing area. There are MANY homeowners there who DID NOT purchase their properties at high prices (they purchased pre-bubble). In addition, there are many lower-cost rentals there and even a few mobile home parks.
Not everyone has high living expenses or high property taxes. MANY people (including most Mexicans living in MX) have FAR cheaper living expenses than a “typical Pigg.” Therefore, they have more discretionary income for restaurants and entertainment.
LOTS of people eat out almost daily in lower cost-of-living regions of the US. MANY eat in the SAME 1-3 restaurants night after night.
Participant[quote=briansd1]Go to Cabazon and watch the shoppers. There are even more Asian tourists and Asian-Americans from LA there.
Seriously, when at Carlsbad, go see where the buses park. There are cheap Chinese tours that come to SAN for the day.
I’m telling you, the world is changing thanks to the cheap Dollar. I’ve been on a tour with my Chinese friends. The tours are fast-paced and allow the tourists to take pictures at all the “must-see” sites.
http://7usa8.com/en/journey.aspx?JourneyID=1018
[/quote]so true, brian. And also true about Mexicans flooding the malls. Mall retailers don’t have to worry about credit card fees dipping into their profits with Mexicans. The vast majority pay cash. And these shoppers have an insatiable appetite for American fashion, household goods, electronics and other mdse.
In South County Macy’s stores, many Mexicans buy 12-20 pairs of shoes at once during their frequent “5-hour” sales.
Great Chinese tour link, btw 🙂
Participant[quote=briansd1]Go to Cabazon and watch the shoppers. There are even more Asian tourists and Asian-Americans from LA there.
Seriously, when at Carlsbad, go see where the buses park. There are cheap Chinese tours that come to SAN for the day.
I’m telling you, the world is changing thanks to the cheap Dollar. I’ve been on a tour with my Chinese friends. The tours are fast-paced and allow the tourists to take pictures at all the “must-see” sites.
http://7usa8.com/en/journey.aspx?JourneyID=1018
[/quote]so true, brian. And also true about Mexicans flooding the malls. Mall retailers don’t have to worry about credit card fees dipping into their profits with Mexicans. The vast majority pay cash. And these shoppers have an insatiable appetite for American fashion, household goods, electronics and other mdse.
In South County Macy’s stores, many Mexicans buy 12-20 pairs of shoes at once during their frequent “5-hour” sales.
Great Chinese tour link, btw 🙂
Participant[quote=briansd1]Go to Cabazon and watch the shoppers. There are even more Asian tourists and Asian-Americans from LA there.
Seriously, when at Carlsbad, go see where the buses park. There are cheap Chinese tours that come to SAN for the day.
I’m telling you, the world is changing thanks to the cheap Dollar. I’ve been on a tour with my Chinese friends. The tours are fast-paced and allow the tourists to take pictures at all the “must-see” sites.
http://7usa8.com/en/journey.aspx?JourneyID=1018
[/quote]so true, brian. And also true about Mexicans flooding the malls. Mall retailers don’t have to worry about credit card fees dipping into their profits with Mexicans. The vast majority pay cash. And these shoppers have an insatiable appetite for American fashion, household goods, electronics and other mdse.
In South County Macy’s stores, many Mexicans buy 12-20 pairs of shoes at once during their frequent “5-hour” sales.
Great Chinese tour link, btw 🙂
Participant[quote=briansd1]Go to Cabazon and watch the shoppers. There are even more Asian tourists and Asian-Americans from LA there.
Seriously, when at Carlsbad, go see where the buses park. There are cheap Chinese tours that come to SAN for the day.
I’m telling you, the world is changing thanks to the cheap Dollar. I’ve been on a tour with my Chinese friends. The tours are fast-paced and allow the tourists to take pictures at all the “must-see” sites.
http://7usa8.com/en/journey.aspx?JourneyID=1018
[/quote]so true, brian. And also true about Mexicans flooding the malls. Mall retailers don’t have to worry about credit card fees dipping into their profits with Mexicans. The vast majority pay cash. And these shoppers have an insatiable appetite for American fashion, household goods, electronics and other mdse.
In South County Macy’s stores, many Mexicans buy 12-20 pairs of shoes at once during their frequent “5-hour” sales.
Great Chinese tour link, btw 🙂
Participant[quote=briansd1]Go to Cabazon and watch the shoppers. There are even more Asian tourists and Asian-Americans from LA there.
Seriously, when at Carlsbad, go see where the buses park. There are cheap Chinese tours that come to SAN for the day.
I’m telling you, the world is changing thanks to the cheap Dollar. I’ve been on a tour with my Chinese friends. The tours are fast-paced and allow the tourists to take pictures at all the “must-see” sites.
http://7usa8.com/en/journey.aspx?JourneyID=1018
[/quote]so true, brian. And also true about Mexicans flooding the malls. Mall retailers don’t have to worry about credit card fees dipping into their profits with Mexicans. The vast majority pay cash. And these shoppers have an insatiable appetite for American fashion, household goods, electronics and other mdse.
In South County Macy’s stores, many Mexicans buy 12-20 pairs of shoes at once during their frequent “5-hour” sales.
Great Chinese tour link, btw 🙂
Participant[quote=AK]…Sometimes I’m not sure how much GF is in the GFE. I think one of the problems is that the GFE has been offshored to BFE.[/quote]
AK, this is true in that your loan officer is not sitting down with you and generating your GFE (formerly “Reg Z”) on a form by hand with his/her calculator. Your GFE now comes by way of a (distant) computer or fax machine “who” has NO IDEA what the County of SD charges for this or that or what reasonable and customary charges are for an ALTA title policy in CA, flood certification, etc, etc :={
Participant[quote=AK]…Sometimes I’m not sure how much GF is in the GFE. I think one of the problems is that the GFE has been offshored to BFE.[/quote]
AK, this is true in that your loan officer is not sitting down with you and generating your GFE (formerly “Reg Z”) on a form by hand with his/her calculator. Your GFE now comes by way of a (distant) computer or fax machine “who” has NO IDEA what the County of SD charges for this or that or what reasonable and customary charges are for an ALTA title policy in CA, flood certification, etc, etc :={
Participant[quote=AK]…Sometimes I’m not sure how much GF is in the GFE. I think one of the problems is that the GFE has been offshored to BFE.[/quote]
AK, this is true in that your loan officer is not sitting down with you and generating your GFE (formerly “Reg Z”) on a form by hand with his/her calculator. Your GFE now comes by way of a (distant) computer or fax machine “who” has NO IDEA what the County of SD charges for this or that or what reasonable and customary charges are for an ALTA title policy in CA, flood certification, etc, etc :={
Participant[quote=AK]…Sometimes I’m not sure how much GF is in the GFE. I think one of the problems is that the GFE has been offshored to BFE.[/quote]
AK, this is true in that your loan officer is not sitting down with you and generating your GFE (formerly “Reg Z”) on a form by hand with his/her calculator. Your GFE now comes by way of a (distant) computer or fax machine “who” has NO IDEA what the County of SD charges for this or that or what reasonable and customary charges are for an ALTA title policy in CA, flood certification, etc, etc :={
Participant[quote=AK]…Sometimes I’m not sure how much GF is in the GFE. I think one of the problems is that the GFE has been offshored to BFE.[/quote]
AK, this is true in that your loan officer is not sitting down with you and generating your GFE (formerly “Reg Z”) on a form by hand with his/her calculator. Your GFE now comes by way of a (distant) computer or fax machine “who” has NO IDEA what the County of SD charges for this or that or what reasonable and customary charges are for an ALTA title policy in CA, flood certification, etc, etc :={
Participantflu, I take it you currently have a conforming loan? In light of your circumstances I think you are very wise to keep your 15-yr loan term and endeavor to pay it off in 10 yrs.
Is the new $2800+ mo amount PITI or just PI? I’m not too familiar with the rents up there but if your payment is just PI, I don’t see the viability of renting out without either a negative cash flow or the hassles of turnover with a rent set at above $3500 mo.
If you pay the extra every month like you are planning to for at least a couple of years, your new 15-year loan will begin to amortize very quickly at about 40-42 months in. This will give you and your family a lot of flexibility.
I wish you all the best with your health issues.
Participantflu, I take it you currently have a conforming loan? In light of your circumstances I think you are very wise to keep your 15-yr loan term and endeavor to pay it off in 10 yrs.
Is the new $2800+ mo amount PITI or just PI? I’m not too familiar with the rents up there but if your payment is just PI, I don’t see the viability of renting out without either a negative cash flow or the hassles of turnover with a rent set at above $3500 mo.
If you pay the extra every month like you are planning to for at least a couple of years, your new 15-year loan will begin to amortize very quickly at about 40-42 months in. This will give you and your family a lot of flexibility.
I wish you all the best with your health issues.
-
AuthorPosts
