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February 25, 2010 at 10:17 AM in reply to: Mortgages in walkable areas less likely to default. #518366February 25, 2010 at 10:17 AM in reply to: Mortgages in walkable areas less likely to default. #518620
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ParticipantI used to live in downtown SD. It is pretty walkable but there isn’t a lot of selection for groceries. In downtown you can get by without a car most of the time if your work is downtown. North Park/Hillcrest is better IMO for life without a car, there are much better grocery stores (Whole Foods/Trader Joe’s/Henry’s as well as Albertson’s and Ralph’s all within a 1 mile radius). Post Office, drug stores, pretty much everything you need. If you worked in Hillcrest/NP or downtown you could get by with just a bike with no problems at all. I think that sort of lifestyle is going to be more and more attractive in the future.
February 22, 2010 at 3:23 PM in reply to: About half of U.S. mortgages seen underwater by 2011 #516653ParticipantHahaha I wouldn’t want on ocean view either. What if there were a real tsunami? I’ll take inland and at least 100ft elevation thanks.
February 22, 2010 at 3:23 PM in reply to: About half of U.S. mortgages seen underwater by 2011 #516796ParticipantHahaha I wouldn’t want on ocean view either. What if there were a real tsunami? I’ll take inland and at least 100ft elevation thanks.
February 22, 2010 at 3:23 PM in reply to: About half of U.S. mortgages seen underwater by 2011 #517229ParticipantHahaha I wouldn’t want on ocean view either. What if there were a real tsunami? I’ll take inland and at least 100ft elevation thanks.
February 22, 2010 at 3:23 PM in reply to: About half of U.S. mortgages seen underwater by 2011 #517322ParticipantHahaha I wouldn’t want on ocean view either. What if there were a real tsunami? I’ll take inland and at least 100ft elevation thanks.
February 22, 2010 at 3:23 PM in reply to: About half of U.S. mortgages seen underwater by 2011 #517574ParticipantHahaha I wouldn’t want on ocean view either. What if there were a real tsunami? I’ll take inland and at least 100ft elevation thanks.
February 22, 2010 at 2:57 PM in reply to: About half of U.S. mortgages seen underwater by 2011 #516628ParticipantI think the only way we’re getting $500K NCC ocean view 1/4 acre lots is if there is an actual tsunami that wipes out the coast of California. Then we might have a chance at them for $500K since the houses will be gone.
February 22, 2010 at 2:57 PM in reply to: About half of U.S. mortgages seen underwater by 2011 #516771ParticipantI think the only way we’re getting $500K NCC ocean view 1/4 acre lots is if there is an actual tsunami that wipes out the coast of California. Then we might have a chance at them for $500K since the houses will be gone.
February 22, 2010 at 2:57 PM in reply to: About half of U.S. mortgages seen underwater by 2011 #517204ParticipantI think the only way we’re getting $500K NCC ocean view 1/4 acre lots is if there is an actual tsunami that wipes out the coast of California. Then we might have a chance at them for $500K since the houses will be gone.
February 22, 2010 at 2:57 PM in reply to: About half of U.S. mortgages seen underwater by 2011 #517295ParticipantI think the only way we’re getting $500K NCC ocean view 1/4 acre lots is if there is an actual tsunami that wipes out the coast of California. Then we might have a chance at them for $500K since the houses will be gone.
February 22, 2010 at 2:57 PM in reply to: About half of U.S. mortgages seen underwater by 2011 #517548ParticipantI think the only way we’re getting $500K NCC ocean view 1/4 acre lots is if there is an actual tsunami that wipes out the coast of California. Then we might have a chance at them for $500K since the houses will be gone.
February 21, 2010 at 4:30 PM in reply to: About half of U.S. mortgages seen underwater by 2011 #516218ParticipantOk so if the banks are bailed out yet again then who is going to bail out the government? The treasury auction last week was considered a failure by Rick Santelli and the Chinese have already begun to dump their US holdings. Game, set match, nothing left to do but let capitalism determine the true value of real estate.
The Federal Reserve will act as it always does as the buyer of last resort. Remember that it is not part of the US and is a private for-profit corporation. As the US owes more and more to the Federal Reserve, we’ll pay them more and more interest and their shareholders will reap the return. The endgame will come when we can no longer raise enough revenue to pay the interest on the debt; at that point the bank will be able to call in “austerity measures” through the IMF and World Bank. This means the selling off of public infrastructure to pay the debts. What will happen then is that the federal highways will become toll roads, the national parks will become owned by Disney, the Alaskan oil reserves owned by BP, etc… There will be massive layoffs of government employees, breakups of state-owned companies like GM, cancellation of retiree benefits and pensions, cancellation or drastic cutbacks in Medicare and Social Security benefits, and probably forfeiture of private 401Ks. It will go down here like a giant version of Argentina.
February 21, 2010 at 4:30 PM in reply to: About half of U.S. mortgages seen underwater by 2011 #516359ParticipantOk so if the banks are bailed out yet again then who is going to bail out the government? The treasury auction last week was considered a failure by Rick Santelli and the Chinese have already begun to dump their US holdings. Game, set match, nothing left to do but let capitalism determine the true value of real estate.
The Federal Reserve will act as it always does as the buyer of last resort. Remember that it is not part of the US and is a private for-profit corporation. As the US owes more and more to the Federal Reserve, we’ll pay them more and more interest and their shareholders will reap the return. The endgame will come when we can no longer raise enough revenue to pay the interest on the debt; at that point the bank will be able to call in “austerity measures” through the IMF and World Bank. This means the selling off of public infrastructure to pay the debts. What will happen then is that the federal highways will become toll roads, the national parks will become owned by Disney, the Alaskan oil reserves owned by BP, etc… There will be massive layoffs of government employees, breakups of state-owned companies like GM, cancellation of retiree benefits and pensions, cancellation or drastic cutbacks in Medicare and Social Security benefits, and probably forfeiture of private 401Ks. It will go down here like a giant version of Argentina.
February 21, 2010 at 4:30 PM in reply to: About half of U.S. mortgages seen underwater by 2011 #516790ParticipantOk so if the banks are bailed out yet again then who is going to bail out the government? The treasury auction last week was considered a failure by Rick Santelli and the Chinese have already begun to dump their US holdings. Game, set match, nothing left to do but let capitalism determine the true value of real estate.
The Federal Reserve will act as it always does as the buyer of last resort. Remember that it is not part of the US and is a private for-profit corporation. As the US owes more and more to the Federal Reserve, we’ll pay them more and more interest and their shareholders will reap the return. The endgame will come when we can no longer raise enough revenue to pay the interest on the debt; at that point the bank will be able to call in “austerity measures” through the IMF and World Bank. This means the selling off of public infrastructure to pay the debts. What will happen then is that the federal highways will become toll roads, the national parks will become owned by Disney, the Alaskan oil reserves owned by BP, etc… There will be massive layoffs of government employees, breakups of state-owned companies like GM, cancellation of retiree benefits and pensions, cancellation or drastic cutbacks in Medicare and Social Security benefits, and probably forfeiture of private 401Ks. It will go down here like a giant version of Argentina.
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