[carlsbadworker]

[quote=sdduuuude][quote=EconProf]BearishGirl: Please reread and take to heart Ren’s comments about your posts. Your responses showed it had no impact on you. But it was constructive criticism and probably represents the feelings of many Piggs.
Anyone else agree?[/quote]

+1[/quote]

-1.

Although often time I don’t agree with BG’s view, I think she offers a good and distinctive perspective. This board would otherwise have too uniform views. And I really appreciate this kind of diversity especially less and less old-timers are here now.

Let BG be BG with her unique post style.

[carlsbadworker]

When I read the title, I thought you meant Rich Toscano is better off now than 2007.

Piggs should all be better off now, I guess? Most of us were all house poor at that time.

[carlsbadworker]

I wonder now if piggs are genetically flawed to be able to make a killing in the property market.

Although the site is focused on SoCal RE, many of us under-estimated how fast the real estate price can rise. I think sdr’s prediction is almost closest to the reality but even he bets the bottom will be at December 2012.

[carlsbadworker]

[quote=paramount]flu: Over the years I’ve learned a lot from your posts, and you’re way smarter than I am.

Let’s face it, there’s a reason I live in Temecula and you live in CV (or other 1%er area).

That being said, I could rattle off an impressive list of names and institutions saying we will likely be in a recession by the end of the year – maybe severe.

As has been said, if you think the Obama recovery sucked, just wait until the Obama crash hits.

Or is an area like CV essentially immune from economic contraction?[/quote]

Wait a minute. You live in Temecula? I thought you already rent out your place. Don’t tell me after all years of ranting against Temecula, you bought another one here?

[carlsbadworker]

My company gives paid vacation starting from 3 weeks on day one and up to 5 weeks for people who are here for over 15 years.
Sick leave is separate and I have accumulated more than 2 months…so who is counting anymore?

But most employers give PTO right now. It would be a better deal for me because of the sick leave that I have accumulated. But since its vacation time policy is not bad either, I am not complaining.

[carlsbadworker]

[quote=desmond]Please God bring Brian, SDR and even Squat back, this is getting sad.[/quote]

Yes, and Temeculaguy also.

[carlsbadworker]

flu, actually you can make irregular extra payments with provident. It is just not straightforward. It has automatic debit, and you can change the automatic debit amount any time you want. Anyway, you can figure it out once you play with the website long enough.

[carlsbadworker]

I thought Provident Funding was bad too originally. But all you need is automatic debit…so it is not that bad.

My new lender (Interbank Loan) is utterly horrible. First of all, there is no website at all. Forget about on demand payment or automatic debit. The only option is snail mail. And I read online that it is slow to accept snail mail and would charge you $10 for pay via phone. So I sent my payment as soon as I got my deposit slip and 2 weeks later, it has not debited the check. I guess I can not avoid that $10 fee otherwise I will have a late payment.

Luckily, they just sold my loan to another servicer. Otherwise, I will be forced to refi as soon as possible not for the rate but to stay away from that lender.

[carlsbadworker]

CAR, whether baby boomers will be looking at liquidating their houses does not matter. They are switching from one form of housing (owner) to another form of housing (renter). It doesn’t change the overall demand for shelter. Real estate investors as a supply of these shelters (again either in the form of landlord or seller) would benefit if the demand grows.
By default, the demand will grow due to new household formation. Renter affordability will slow the household formation but I don’t see it will reverse the trend.

[carlsbadworker]

Good post, CAR. I think you have some valid points:
1. This is definitely an investor driven recovery so far. However, I think behind the investor driven surface, we now have a “shadow demand” from VA/FHA buyers who cannot win any bid.
2. I do think the strong SFH rental market is driven by people who had foreclosure or shortsale. I heard that the SFH rental is getting pretty weak in Murrieta where the peak of foreclosure/shortsale wave is behind us. If you have it in the employment center such as MM, then the demand is more sustainable.

The question is however whether it will be a virtuous cycle going forward or at near future, it will crash again. I don’t see any evidence of the latter yet. Just because investors bought these homes, doesn’t mean it will crash. They are better than the deadbeats some years ago. Which is better? “True end consumer demand” from people with liar loans? Or the current demand from investors who have cash reserve to handle adverse scenario? And if employment will recover, then the investors would as a whole made some pretty smart move.

All the talks of austerity are just talks. The central banks everywhere are busy deflating their currency. Real estate as an asset class has its attractiveness precisely because of that…unless you believe those in power will suddenly decide to have fiscal/monetary disciplines onto themselves.

[carlsbadworker]

Scrapbook retreat looks pretty popular:

http://www.scrapbookplace.net/the-place/

And this place is almost pre-reserved for the entire year:
http://scrapretreathouse.com/fvcalendar.php

[carlsbadworker]

40K at the current interest rate is just $5 or $6 a day. Just saying. There is some magic that the low interest rate could do for the price sensitivity. You made up for that much difference if the rate is 0.5% higher/lower.

[carlsbadworker]

I won’t. Personal choice. You have to prevent not only your own kids get drown but also other kids in the neighborhood. Too much liability. I picked a house very close to HOA (walking distance) and would rather use their pools.

[carlsbadworker]

[quote=AN]I think flyer was talking about those who have net worth >$1M. At least that’s what I thought he’s talking about and that’s what I was agreeing with.[/quote]

$1M only gets you to top 10%. You will need >$3M to get into top 5%, which is probably what flyer meant for financial solvent, or in my definition, “financially independent”.

By the way, these wealthiest 5% of households owned the lion’s share of common stock excluding pensions (79.2%), common stock held either directly or through pensions (69.2%), and non-equity financial assets (76.1%), but only (33.1%) of housing equity.

[carlsbadworker]

[quote=AN]flyer, I’m also aware of the stats about 5% of the population who are financially solvent.[/quote]

I don’t believe only 5% are financially solvent. I think I am not in top 5% in terms of net worth, but I am financially solvent.

One in Four Households Have No Net Worth.
http://economyincrisis.org/content/one-four-households-have-no-net-worth
http://epi.3cdn.net/2a7ccb3e9e618f0bbc_3nm6idnax.pdf

About one in five U.S. households owe more on credit cards, medical bills, student loans and other debts that aren’t backed by collateral — so not including car loans — than they have in savings, checking accounts and other liquid assets.

http://usatoday30.usatoday.com/money/perfi/basics/story/2012-05-12/households-net-worth-university-of-michigan/54912016/1

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