[Coronita]

[quote=deadzone]And talk about axe to grind, here you go attacking me again just for reporting the reality of the situation. Just like SDR. Just because you own a bunch of real estate it turned you into a dick. Hey stop shooting the messenger. At least with tech stocks tanking, there is no reason you can’t sell whenever you want.

When did I ever say I wished financial pain on you? To the contrary, I am trying to help you guys by alerting you to get out of tech and real estate stocks. Just because you don’t like the message you attack me, stop being a dick![/quote]

DZ, you aren’t just reporting “information” you’re reposting single news articles and the generalizing to things that don’t make sense. For instance calling Robinhood a tech company, and other things that you’ve posted that don’t make sense. If you’re going to get butt hurt from being called out some of these things, that’s on you.

As for the more personal responses, I’m simply responding to you first turning this personal on wishing bad on the three of us or anyone else for that matter that didn’t sit on their asses for the past 20 year years waiting for another downturn after missing the couple of 2-3 that already happened…I’m just pointing out your obsession to seeing those people undergo financial pain to the extent you hope you’ll some how catch up..

And i say this with no anger or spite (because I’m pretty confident and happy as I am and truly wish the best for you)… simply put…. your wish of seeing others go down and you go up, isn’t going to happen….Maybe I should have just been more blunt in the first place and used fewer words instead of trying to be slightly more diplomatic, but the blunt version is… lots of people didn’t sit on our ass for the past 20 year, and because of that, these people have a much larger financial cushion.

We don’t need your warnings because we’re doing fine, well, probably better than fine. But we also know you really aren’t warning us. You’re looking for validation for your own decisions. And in the bare minimum if you at least admit that, it might make you at least seem slightly more credible instead of hiding in the pretense of offering “advice”….For one thing, if you believe any of us are significantly concentrated in tech, that also goes to show your limited understanding of financial planning for the long term. I’d be surprised if anyone here is camped out in more than 10-15% in tech…lol

But since we are all here giving each other advice, I might as well stretch and give you advice too. Since you’ve already missed the boat, for you it doesn’t make sense to consider home ownership in the forseeable future because, in your case if things go sour, you don’t have much time left to recover so you might as well sit it out. It’s a different game versus someone in their late 20ies or early 30ies starting out with 30-40+ years left of high earning potential and can carry a 30 year loan with no problem. you’re also getting pretty close, if not already exceeded, the peak of your career as a worker and since you derive most of your agi from your wage, as I stated, like me, you are no spring chicken that is just starting out in your career that is easily employable elsewhere if something were to happen. Since you’re already accustomed to $2000/month *12 months * 20 years, you might as well continue this trajectory if we enter uncertain times.

[Coronita]

[quote=deadzone]
Yes Robinhood’s decline was predictable as most trendy, one trick pony stocks. But the recent bull market in growth stocks was fueled by countless companies just like this, which is why it feels like 1999.

But moving to the “bellweather” tech stocks, Amazon now shitting the bed, and even Apple not reporting great earnings. All FAANG stocks are now sitting near or below 52 week lows and half of them well below Pre-covid highs too. This is getting ugly.[/quote]

Yes, but DZ, it was asinine for you to call Robinhood a tech stock and once again shows how little you understand things

also, you’re selectively cherry picking some of these earnings report say. apple did great given that they are supply chain constrained. They couldn’t meet demand dude to supply chain issues and their forecast was reduced for the same reason. Seriously dude, you got some major comprehension issues first calling Robinhood a tech company and glossing over supply chain issues.

You’re just out here swinging because you’re mad and have an axe to grind. You seem like you are desperate to prove how smart and right you are, despite over and over again missing the boat. like you said, you’ve been around since 2000ish working, which means your not exactly a spring chicken. That’s over 20+ years of corrections that has happened, and it doesn’t seem like you were able to take significant advantage of any of them, financially. Whether it was stocks or housing or both. And you’re hell bent on wishing financial pain on the 3 of us that won’t even happen to your disappointment. There no house to be lost, there’s very to little debt, and, rental shortages are still a major problem (you see the UCSD student protect recently that blocked traffic in UTC protesting housing ???)…Don’t worry about is, were doing fine. Worry about yourself because, dude financial pain had far more fell on your lap for the past 20 years with your do nothing approach…tossing $2000+ month and more on housing to a landlord and still thinking your going to come out ahead in housing by waiting for the right correction. $2000*20*12, most likely more…. Your housing cost basis is already going to be higher than anyone else starting out right now for the very reason that again you’re no spring chicken…20+ years this way. you missed the boat…completely….even the most Uber bears and old timers that called the bubble jumped into housing over the last 20 years. (name one person here for 15-20 years still looking for the housing bottom?)

At this point, taking out a 30 year fixed loan almost doesn’t make sense. You’ll be well past being on social security and Medicare and wearing Depends diapers by then, just like me. I’m surprised banks haven’t considered that too in their underwriting guidelines. I wouldn’t loan a 30 year to myself at this point , lol. I’m kidding…sort of …..

[Coronita]

[quote=sdrealtor]It looks like the tech wreck will continue. Robinhood has disappointing earnings[/quote]

Nah, some winners and losers..

But did we decide if Robinhood is tech or not yet?

But anyway, take a look at Robinhood’s more established competitors.

They are doing just fine.
https://finance.yahoo.com/quote/RJF?p=RJF

Robinhood’s decline shouldn’t be surprising. I mean, when you bank your business on a bunch of MEME gamblers that really don’t understand how to make a safe and stable financial plan who bought into this get rich quick MEME, crypto, NFT thing…what do you think will happen? That’s not to say people haven’t made money in MEME, crypto and NFT…But the majority of the people are sheep and got in too late and missed out on another opportunity of a life time….

[Coronita]

Tim Apple Crushes Earnings
https://finance.yahoo.com/news/apple-to-report-q-2-earnings-amid-continuing-supply-chain-disruptions-203357903.html

Is Apple a tech stock???

Intel beat on earnings, gets crushed on outlook.

Amazon is just amazon, lol.

[Coronita]

[quote=JPJones][quote=sdrealtor]Didn’t someone predict this here two months ago? I wonder who?

Adjustable-rate mortgage demand doubles
https://www.cnbc.com/2022/04/27/adjustable-rate-mortgage-demand-doubles-as-interest-rates-hit-the-highest-since-2009.html?__source=iosappshare%7Ccom.apple.UIKit.activity.Message

It’s only just the beginning! Bring on the adjustables![/quote]
Damn…I didn’t think you’d be wrong, but I didn’t want you to be right.

“Oh no, not again.”[/quote]

Well, adjustable rate mortgages are probably not bad by themselves, so that probably isn’t alone enough to cause alarm…

It’s when the banks stop dropping lending standards and anyone that can qualify for a loan that is barely breathing, then that’s a problem.

But we aren’t there….yet…..

I look at it another way….ARMs probably are a short to mid term way to allow some buyers to keep buying. It’s not an end all be all for everyone, but probably away to get around it. 7/1 or 5/1….. not deal with it for another 5-7 years. A lot of things can happen 5-7 years later. Maybe good, maybe bad. dont’ know. most people probably don’t think that far in advance.

And if banks are stupid enough to bring back liar loans, well then we have an entire new generation of stupid buyers that pay way above their means that will end up in a short sales/ REO for the rest of us buy at a discount, just like before…

Not that I wish that to happen… But if it were to happen, it is what it is.

[Coronita]

PInterest topped revenue forecasts.

Facebook up 15% after earnings.

Ford also did well, though not a tech company.

Paypal cuts earnings outlook but user base growth is alright. Up 6%

Qualcomm crushes estimates, up 5% on earnings

I’d say the health of the economy is greatly underestimated.

[Coronita]

[quote=deadzone]
That’s funny because whenever I post about evidence pointing the coming crash, you and sdr and FLU get angry. Yet you (and SDR) then claim you welcome lower prices. You guys are either liars, or you have bi-polar disorder.[/quote]

Fake news dz.
I’m definitely not getting angry. I doubt AN or SDR is too. But if I recall you did drop a few f-bombs in reaction to some of the posts and in reaction to G.O.A.L.. lol

I think your posts are entertaining and think you’ll be disappointed by trying to catch the bottom again because nothing you’ve done over the past 20+years where there were bottoms suggests you would be able to catch the next one if it does happen. because i don’t think you are nearly as good as you think you are in catching opportunity. I also think it’s entertaining you’re desperately trying to find validation of your opinions, while personally I don’t care if I’m right or wrong. Nor am I really trying to predict how things shake out…

I do appreciate your concern if the economy goes south, that you are concerned I will suffer, but I assure you that I’ll be fine so no need to worry about me (and if you’re itching to see the three of us get screwed, again, sorry that you’ll be disappointed too…).

Higher interest rates and lower prices probably would be beneficial for me. There were many bottom tier homes I couldn’t get despite throwing all cash offer, 10 day all contingencies removed, 15 day close of escrow because there were so many people taking out a 30 year mortgage that were willing to pay a lot more…and the seller didn’t care if escrow was much longer because they figure if it fell out of escrow there’s like 10+ other buyers lined up.

With higher interest rates, the same monthly payments might limit people looking to buy at the bottom tier where I like to play. They still need a mortgage buy and the terms that they can offer may appear less favorable. In this case, cash offers might be worth a lot more when rates move up, and that definitely is good news for me. Also, my cash offers won’t be impacted if I am working or not, since I won’t need to qualify for a mortgage. And if we have high unemployment, that will take out a lot of competition from buying too who are still dependent on a wage income. This might not be as concern in higher tier homes where the average buyer are considerably higher net worth individuals, but I don’t plan on spending $1million+ on a rental property, i tend to compete in the markets where there’s a lot more first time home buyers just starting out 🙂

Not that I wish for that to happen, but if it does, there’s definitely opportunity there for me.

[Coronita]

That said, UCSD and SDSU student body is ever increasing, and now that we’re back into in person schooling, like I said, students cant live remotely at their parent’s house anymore, so they’ll need a place to stay..which unfortunately, it seems like there right is a shortage of student housing. And it doesn’t seem like this will be addressed any time soon…

UCSD Students face Housing Crisis as Enrollment Rises

Now, UCSD is trying to add 3310 dorms, but that doesn’t appear to be completing until 2024…

https://collegenews.org/uc-san-diego-planning-to-add-3310-dorm-beds-to-prevent-housing-shortage/

[quote]
Currently, there are 43,000 students enrolled at the university, increasing by more than 14,000 students over the previous decade. Another increase in enrollment has been projected to occur this fall.
[/quote]

https://www.pacificsandiego.com/latest/story/2021-07-18/housing-shortage-uc-san-diego
“Got a spare apartment? Thousands of UC San Diego students need a place to live”

https://calmatters.org/education/higher-education/college-beat-higher-education/2021/11/uc-housing-crisis-students-hotels/
“What’s it like to study from a hotel? As UC housing crunch worsens, these students are finding out”

Real facts,dz dude. Great time to own in UTC!!!! Personally, if I were an adult with a job, I’d stay away from the UTC and surrounding area since it doesn’t appear the housing crunch will subside from university demand alone.

No surprise there are companies trying to rent out SFH in 92130 and then trying to rent out each room to UCSD students. I have this one dick that tried to pretend their son was going to be a freshman at UCSD and their family wanted to rent out a 5/3 in 92130. I was like what for, you are live in irvine why would you need to rent out a 5/3 for your kid. It turns the dick wasn’t really renting for his kid. He was trying to secure a 5/3 house where then he could sublet the home to 5 college students at UCSD for much more than I was asking for the entire house.I told the dick that if I wanted to do that, I would cut him out as the middle man and instead of renting a SFH at $5000/month, charge $1500/month per room myself and pocket $7500/month if I was that greedy….lol. Nice try…A friend of a friend over by Sage Canyon with a 6 bedroom house converted his garage to a 7th room, and did that and rents out 6 rooms to UCSD students, and lives out of his master bedroom… to the ire of his neigbhors. lol. The students basically pay for his mortgage and has plenty of cash left over per month. I mean, I wouldn’t want to share my house with 6 college students but, then again, $9000/month probably is worth contemplating… Hi justification is “bring some of that foreign money back to the U.S.” lol…

[Coronita]

[quote=sdrealtor]I think you may be misunderstanding what mooning means. It means going to the moon as in rising rapidly which is what your example showed.[/quote]
Correct .I meant

Rent is not mooning my ass.

typo.

[Coronita]

[quote=an]I remember in 2004-2005, there were a lot of pain from people recently graduated who finally saved enough to buy their first home.[/quote]

Yes, but over the long period of time, those that held on did just fine. I bought here in SD around that time. Again, people that got hurt were people that couldn’t afford their liar loans and couldn’t hold on. Those that were already able to get 30 year fixed loans simply held on, refinanced, held on, and/or eventually paid it off or paid down the loan balance or put the extra money to use for other investments like rentals. And now, their housing costs is now fixed and not blowing up with rising rents and and inflation…lesson learned, don’t fvck around with your place of residence or risk get screwed over by a landlord for the next decade or longer. The mortgage on the 5/3 at the time was $3900/month. And the cash out refi at 3% is around $2300/month. That’s almost how much a 1/1 in mira Mesa today.

Check out this listing I found on HotPads!

https://hotpads.com/8656-new-salem-st-san-diego-ca-92126-1m4vdpt/51/pad?propertyTypes=condo

I’m not surprised rents in UTC is breaking through $3k for 2/2.

$2200 for a 1/1 in MM is $400/month more than Oct 2021 when I rented out the 1/1 when my tenant decided he wanted to cancel his $1550/month to month lease because he didn’t want to pay for rent for 2 months while he went overseas, lolol. I think he found a 1 bedroom room in a shared house for about $1600/month in Mira Mesa … Idiot. Lol

Rent is mooning my ass…

[Coronita]

[quote=deadzone]

Again you guys are vastly overrating the job losses associated with the recession. I don’t know anyone who lost their job in the last crash. And regardless, I have a lot more savings than most people (who are generally in debt) so could easily survive a mega-crash even without a job. I say bring on the crash and bring it hard.
But again, we all know the Fed is going to come to the rescue eventually. That is the wildcard that makes it impossible to go “all in” betting one way or the other.[/quote]

No, that’s not what I’m saying. What I’m saying is basically what you are now saying in a circular way. A minor job loss probably isn’t going to make a dent in housing inventory. Minor job losses can be absorbed over brief periods of time. Job losses could make a dent in housing inventory if it is widespread and sustained. But for job losses to make a material impact on housing inventory as you would like…seems like it would need to be severe and widespread and sustained, and my point is that’s a double edge sword, since inevitably you would be impacted, and you’ll most likely be disappointed for the very same reason that during the dot.com correction, it doesn’t appear you had taken significant advantage of a downturn from then and during the past 20 years when we had downturns. If you were working around the time of the dot.com crash of 2001, that means you’re a pretty old dude like me….any sort of advantage you could have taken, you would have already taken, and there were many of them for the past 20+ years…And here we are still talking about how the next downturn is going to make you whole, 20+ years later.

I can’t predict what will happen, but I’m pretty confident you aren’t going to benefit as well, if at all, from a downturn as you think you will, if history is an indicator.

[Coronita]

Correction. It’s now a $10 billion valuation, with our new subsidiary tech company…

[img_assist|nid=27638|title=my wfh dot
com|desc=|link=node|align=left|width=800]

[Coronita]

[quote=sdrealtor]That’s the best part! Will be just like Robin Hood we don’t have to make money. We just have to have some cool Memes and talk about crypto baby[/quote]

Done!

https://sites.google.com/view/mysdrdotcom/home

[img_assist|nid=27637|title=MySdrDotCom|desc=|link=node|align=left|width=800|height=]

….$5 billion valuation….

Where’s my ISO stock option grants?

[Coronita]

Sorry to ask a very difficult question that many unicorns hate to answer…

How do we make money?

Or do we just need to generate revenue at all costs?

[Coronita]

[quote=sdrealtor]Hey AN and Coronita, can you build me a website? Then I’ll be a tech company. You two can wfh for me indefinitely![/quote]

Do we get stock options?
Are we going to the moon?
Are we going to create an NFT for our company?

We’re in luck ticker symbol SDR is available. But that assumes we would list on NYSE.. I prefer Nasdaq.

[Author]

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