[CA renter]

I’ll say it again…the sales are UP rather dramatically in the lower-end areas. It’s rather stunning, actually.

While following a random sample of listings, there is a definite pattern. Homes priced in the $100K range (look in 92057) are **flying of the market**, and according to Jim Klinge’s site, a number of them are being bought by investors.

As of this moment, you could probably break even or get a slightly positive cash flow on most of these as rentals. However, what happens when all these new houses come onto the rental market? What will likely happen to rents in those areas, especially if the job market continues to deteriorate? Then, the fundamentals don’t work again, and the prices continue to fall.

Also, remember that all these low-priced sales serve as comps. We need somebody to set the downward-moving market prices for these houses. Might as well be somebody other than us! 😉

[CA renter]

I want to be co-CEO! 🙂

Back in 2006, one of my largest short positions was in Golden West (World Savings) because most of their mortages were in California, and most were ARMs, with many neg-ams and other exotic “products”.

Then, the idiots at Wachovia bought WS in May of 2006, IIRC — when any toad should have been able to see the writing on the wall — and paid an f’ing premium for it!!!!

Whooosh, went all of my money on that trade (usually trade options), just like that.

If I could see it, why couldn’t they?

That’s why I don’t buy the theory that CEOs (and their executive entourage) “deserve” their pay. They are well-connected, and that is all!!!!

[CA renter]

I want to be co-CEO! 🙂

Back in 2006, one of my largest short positions was in Golden West (World Savings) because most of their mortages were in California, and most were ARMs, with many neg-ams and other exotic “products”.

Then, the idiots at Wachovia bought WS in May of 2006, IIRC — when any toad should have been able to see the writing on the wall — and paid an f’ing premium for it!!!!

Whooosh, went all of my money on that trade (usually trade options), just like that.

If I could see it, why couldn’t they?

That’s why I don’t buy the theory that CEOs (and their executive entourage) “deserve” their pay. They are well-connected, and that is all!!!!

[CA renter]

I want to be co-CEO! 🙂

Back in 2006, one of my largest short positions was in Golden West (World Savings) because most of their mortages were in California, and most were ARMs, with many neg-ams and other exotic “products”.

Then, the idiots at Wachovia bought WS in May of 2006, IIRC — when any toad should have been able to see the writing on the wall — and paid an f’ing premium for it!!!!

Whooosh, went all of my money on that trade (usually trade options), just like that.

If I could see it, why couldn’t they?

That’s why I don’t buy the theory that CEOs (and their executive entourage) “deserve” their pay. They are well-connected, and that is all!!!!

[CA renter]

I want to be co-CEO! 🙂

Back in 2006, one of my largest short positions was in Golden West (World Savings) because most of their mortages were in California, and most were ARMs, with many neg-ams and other exotic “products”.

Then, the idiots at Wachovia bought WS in May of 2006, IIRC — when any toad should have been able to see the writing on the wall — and paid an f’ing premium for it!!!!

Whooosh, went all of my money on that trade (usually trade options), just like that.

If I could see it, why couldn’t they?

That’s why I don’t buy the theory that CEOs (and their executive entourage) “deserve” their pay. They are well-connected, and that is all!!!!

[CA renter]

I want to be co-CEO! 🙂

Back in 2006, one of my largest short positions was in Golden West (World Savings) because most of their mortages were in California, and most were ARMs, with many neg-ams and other exotic “products”.

Then, the idiots at Wachovia bought WS in May of 2006, IIRC — when any toad should have been able to see the writing on the wall — and paid an f’ing premium for it!!!!

Whooosh, went all of my money on that trade (usually trade options), just like that.

If I could see it, why couldn’t they?

That’s why I don’t buy the theory that CEOs (and their executive entourage) “deserve” their pay. They are well-connected, and that is all!!!!

[CA renter]

PS,

I think we are in for a world of hurt in the next few years, and we will not likely see the U.S. as the premier nation after all is said and done.

OTOH, I’ve long thought that letting the USD slide has been the plan all along — so that we can compete with third-world labor markets. It’s our only way out, though it will be very, very painful.

At some point, we have to start actually making things instead of being the middleman in the world’s financial transactions.

It has been, and will be, very interesting to watch how all this plays out.

I wish everyone the very best and hope we can all manage to get through it all safely. The sooner we get this over with, the better.

[CA renter]

PS,

I think we are in for a world of hurt in the next few years, and we will not likely see the U.S. as the premier nation after all is said and done.

OTOH, I’ve long thought that letting the USD slide has been the plan all along — so that we can compete with third-world labor markets. It’s our only way out, though it will be very, very painful.

At some point, we have to start actually making things instead of being the middleman in the world’s financial transactions.

It has been, and will be, very interesting to watch how all this plays out.

I wish everyone the very best and hope we can all manage to get through it all safely. The sooner we get this over with, the better.

[CA renter]

PS,

I think we are in for a world of hurt in the next few years, and we will not likely see the U.S. as the premier nation after all is said and done.

OTOH, I’ve long thought that letting the USD slide has been the plan all along — so that we can compete with third-world labor markets. It’s our only way out, though it will be very, very painful.

At some point, we have to start actually making things instead of being the middleman in the world’s financial transactions.

It has been, and will be, very interesting to watch how all this plays out.

I wish everyone the very best and hope we can all manage to get through it all safely. The sooner we get this over with, the better.

[CA renter]

PS,

I think we are in for a world of hurt in the next few years, and we will not likely see the U.S. as the premier nation after all is said and done.

OTOH, I’ve long thought that letting the USD slide has been the plan all along — so that we can compete with third-world labor markets. It’s our only way out, though it will be very, very painful.

At some point, we have to start actually making things instead of being the middleman in the world’s financial transactions.

It has been, and will be, very interesting to watch how all this plays out.

I wish everyone the very best and hope we can all manage to get through it all safely. The sooner we get this over with, the better.

[CA renter]

PS,

I think we are in for a world of hurt in the next few years, and we will not likely see the U.S. as the premier nation after all is said and done.

OTOH, I’ve long thought that letting the USD slide has been the plan all along — so that we can compete with third-world labor markets. It’s our only way out, though it will be very, very painful.

At some point, we have to start actually making things instead of being the middleman in the world’s financial transactions.

It has been, and will be, very interesting to watch how all this plays out.

I wish everyone the very best and hope we can all manage to get through it all safely. The sooner we get this over with, the better.

[CA renter]

stockstradr,

Unfortunately, I agree with everything you’ve said.

[CA renter]

stockstradr,

Unfortunately, I agree with everything you’ve said.

[CA renter]

stockstradr,

Unfortunately, I agree with everything you’ve said.

[CA renter]

stockstradr,

Unfortunately, I agree with everything you’ve said.

[Author]

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