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September 8, 2006 at 1:27 PM in reply to: 95% of US economists missed the last recession AFTER it had already started #34708
CAwireman
ParticipantThe conflict of interest point that Roubini makes is key.
"Its hard to believe something when your occupation depends upon you not believing it" Mark Twain
ParticipantPoway seller,
As always, good post.
By the way, the link to the 1st property in your post is no longer available on Zip. I wonder what happened?
Did the listing time out or did she pull it off the market?
Or, did it….. sell?
ParticipantRoman,
Hope I didn’t open any old wounds. Good luck with your employment situation wherever you work.
ParticipantI think the WARN notices are advisories that the government puts out letting the public know.
Once the word is out, isn't is pretty much a done deal.
ParticipantYou apparently have access to data I don’t have.
Thanks much for the post. I agree with you and am asking my self the same question: When will the market bottom out
so that I don’t feel like I’m paying top dollar for a property (which I did before and don’t want to do again).I’ll definitely look for the graph.
Thanks again.
ParticipantThanks JES. I stumbled upon this site that was interesting:
Employment Dev Dept (Warn Notices)
It lists the projected layoffs at companies throughout California. Folsom (Intel) is listed there along with lots of others.
I count roughly 2000 in SD.
ParticipantParticipantPS How does one get a Weiss report? Web link available?
Apologies if this was already posted somewhere else…
ParticipantI can sympathize because I was in the same boat about 7 years ago in LA. Had I not researched and found this blog I’m sure I’d be in the same situation right now (again).
What it boils down to is this – the internet affords people to ability to know more about the real estate market than they did before. Information abounds. People who apply themselves can make smarter decisions.
To get this kind of information otherwise, is either much more difficult or impossible for the common person.
Also, the element of kicking ideas around between the forum speeds up the learning process dramatically.
To my knowledge it wasn’t available before in any format to the non-RE folk. Glad it is now.
Participantduplicate
ParticipantPoway Seller,
We rent in Carmel Valley and we were able to get through the whole summer without turning the airconditioner on. Before that, we lived in Mira Mesa and it was breezey where we lived, though I turned on the A/C periodically. But, when we drive through Poway in the summer ITS BRUTAL without the A/C on in the car.
This is not to slam Poway. Aside from the hotter temperatures, we love the area and were tracking property there for a awhile. (we have freinds we love to visit there and my wife used to work in the area).
But, if we can afford to buy a place closer to the coast in 3 to 5 years, we’ll do it despite the higher premium.
ParticipantYeah, and CA, FLA, & Ariz are all sort of clustered together and within about 1 or 2 points of each other.
Hawaii was UP almost 50%. Maybe due to local state
opportunities like oil? Other?ParticipantI’d recommend Lake Miramar.
ParticipantTo sdrealtor, not meaning to make extra work for you. But can you tally this % throughout the prior 2 full realestate cycles as well as the one that is currently cresting and falling downward?
If its too much to do, I’d completely understand. But, it would be fascinating if the data were available.
This kind of info would be great to contrast against the income/home price graphs that Rich has posted.
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