[Coronita]

I would like Carmel Valley to get hit like that but I would definitely not want to live there.

 Although I own here, I wouldn't mind seeing 50% decline across the board. Let people that can afford a home => more renters.

[Coronita]

I would like Carmel Valley to get hit like that but I would definitely not want to live there.

 Although I own here, I wouldn't mind seeing 50% decline across the board. Let people that can afford a home => more renters.

[Coronita]

Let's just quit beating around the bush. Asians, in general, have genetically superior brains

 

Oh boy… Let's not go there…

 

Kewp, Don't get me wrong. I think America has some of the most brilliant/creative people. Let's just take a look at raw noble prize winners. Very few from asia and other countries relative to the ones here…..

BUT….

I think the average Americans are deluded in thinking they're better the other people in other parts or the world. There are a handle of people that are truely brilliant. But most Americans (me included) are not that person. If you take a look at the average american, they do a pretty piss ass job at managing money.  I don't necessarily blame them, because our government isn't exactly a role model. And if you take our systems, several americans really don't take their education seriously until it's too late…Just my observation.

 

[Coronita]

Let's just quit beating around the bush. Asians, in general, have genetically superior brains

 

Oh boy… Let's not go there…

 

Kewp, Don't get me wrong. I think America has some of the most brilliant/creative people. Let's just take a look at raw noble prize winners. Very few from asia and other countries relative to the ones here…..

BUT….

I think the average Americans are deluded in thinking they're better the other people in other parts or the world. There are a handle of people that are truely brilliant. But most Americans (me included) are not that person. If you take a look at the average american, they do a pretty piss ass job at managing money.  I don't necessarily blame them, because our government isn't exactly a role model. And if you take our systems, several americans really don't take their education seriously until it's too late…Just my observation.

 

[Coronita]

asianautica, Hmmm, I will agree that I see a difference between the 2nd generation asian students vs. the ones from overseas along the lines you describe. I wonder if it will take the third-gen to become fat, lazy americans? ;). Re: the depression, suicide connection. It's a very real issue unfortunately: http://www.news.cornell.edu/stories/April06/Chung.ksr.html http://www.imdiversity.com/villages/asian/family_lifestyle_traditions/pn… http://www.cnn.com/2007/HEALTH/05/16/asian.suicides/index.html Oh, but you are. I'm sure most of the development done on Windows OS are done by Indian engineers and most of the CPU that run those OS are made in China. Sorry, I'm a Unix guy. Proudly produced in New Jersey and California. By American's (I've met most of them in fact!). I think there is world of difference between a culture that encourages innovation vs. one of replication (not passing judgment either way). American seems to excel at the former at the expense of the latter where Asia is vice-versa. Toyota is a great example, Ford pioneered the personal automobile, where Toyota perfected the production and distribution of it. The world is a better place for having both, of course. As an aside, I think bringing Japan into the discussion is very interesting. Much of the griping I hear about China and India reminds me of what folks were saying about Japan when I was a youngster. Last I checked things didn't exactly turn out in their favor. I suspect the average American enjoys a higher quality of life due to our respective countries relationship, vs. the average Japanese.

 

Actually, I think what you don't understand…some 1st generations went into engineering because it was the best opportunity for them. See, unlike most americans, most 1st immigrants from asia had to work their ass off to get over here. Second, once here, there's sort of a language gap/cultural gap. My observation about american workers is that for every 1 small thing they do, they bullshit about it by saying 10 things, no matter how simple it is. On the other hand, most asian immigrants I noticed would do 10 simply things and usually don't think it's that big a deal to even come up with 1 bullshit thing to say.

What you call lack of inspiration quite is commonly the issue with non-asian management who equate no bullshit 1st gen immigrants with lack of inspiration, particularly in a heavy bureacratic companies like defense companies.1st generation immigrants don't know how to play politics in the american company…Which is why some of them leave and go to competitor company from their native land. Why do you think companies like Huawei have been able to catch up to Cisco so quickly? Simple…Quick knowledge transfer. And it's going to get a lot worse.

Furthermore, speaking from relative's experience who were the 1st generation, those immigrants quickly learned that while doing a good job is important, salaries pretty much are there just to pay the bills…Most of the ones i grew up lived frugality to be able to stick their income into assets other means. And they have the intelligence to pull this off as opposed to your dipshit MBA worker. Most americans are lousy money managers and piss off whatever they earn, however much they earn. Wanna know why you see a lot of otherwise normal working class asians in Carmel Valley, LJ? Because they manage money better than your average american, even though they may make less.

As a 2nd generation, I have the work ethics of my previous generation, while also understanding the importance of "playing the game." So while detest people that have a 10:1 bullshit ratio, I myself play closer to 5:1 bullshit ratio so that I don't get screwed by a dipshit MBA dude. Plus I have all the cultural advantageous to bridge what gap with our satellite offices. And pretty much, being able to see through the 10:1 bullshitter, I won't hire those people regardless of what ethnic background they have..I also wouldn't be caught dead working in a heavily political company where the politics aren’t in my favor.. One reason why I would never work at a defense company is because when I interned there I found the job to be (1) boring (2) moved too slow (3) and run by too many bureacratic baffoons- more so than other companies in other tech fields and (4) the pay was crap. Plus i didn't like the idea of my future indirectly being dependent on how much the U.S. government wanted to spend on toys any given year…1st gen immigrants are pretty much more willing to put up with that crap…

Actually, one advantage of working for a defense company is that you'd have a greater chance of be laidoff due to a shrinking defense budget than being outsourced. Don’t believe me? Talk to folks that work in those big defense companies here in San Diego that are waiting for big contracts from the Gov lately.

As far as the third generation. Yeah, my kid will probably end up being fatter and lazier. I have to say, I’m not even close to the type of frugality of my parents….side affect of being raised here.

And lastly, I have nothing against caucasians. The few that made it into my engineering were brilliant and creative.

[Coronita]

asianautica, Hmmm, I will agree that I see a difference between the 2nd generation asian students vs. the ones from overseas along the lines you describe. I wonder if it will take the third-gen to become fat, lazy americans? ;). Re: the depression, suicide connection. It's a very real issue unfortunately: http://www.news.cornell.edu/stories/April06/Chung.ksr.html http://www.imdiversity.com/villages/asian/family_lifestyle_traditions/pn… http://www.cnn.com/2007/HEALTH/05/16/asian.suicides/index.html Oh, but you are. I'm sure most of the development done on Windows OS are done by Indian engineers and most of the CPU that run those OS are made in China. Sorry, I'm a Unix guy. Proudly produced in New Jersey and California. By American's (I've met most of them in fact!). I think there is world of difference between a culture that encourages innovation vs. one of replication (not passing judgment either way). American seems to excel at the former at the expense of the latter where Asia is vice-versa. Toyota is a great example, Ford pioneered the personal automobile, where Toyota perfected the production and distribution of it. The world is a better place for having both, of course. As an aside, I think bringing Japan into the discussion is very interesting. Much of the griping I hear about China and India reminds me of what folks were saying about Japan when I was a youngster. Last I checked things didn't exactly turn out in their favor. I suspect the average American enjoys a higher quality of life due to our respective countries relationship, vs. the average Japanese.

 

Actually, I think what you don't understand…some 1st generations went into engineering because it was the best opportunity for them. See, unlike most americans, most 1st immigrants from asia had to work their ass off to get over here. Second, once here, there's sort of a language gap/cultural gap. My observation about american workers is that for every 1 small thing they do, they bullshit about it by saying 10 things, no matter how simple it is. On the other hand, most asian immigrants I noticed would do 10 simply things and usually don't think it's that big a deal to even come up with 1 bullshit thing to say.

What you call lack of inspiration quite is commonly the issue with non-asian management who equate no bullshit 1st gen immigrants with lack of inspiration, particularly in a heavy bureacratic companies like defense companies.1st generation immigrants don't know how to play politics in the american company…Which is why some of them leave and go to competitor company from their native land. Why do you think companies like Huawei have been able to catch up to Cisco so quickly? Simple…Quick knowledge transfer. And it's going to get a lot worse.

Furthermore, speaking from relative's experience who were the 1st generation, those immigrants quickly learned that while doing a good job is important, salaries pretty much are there just to pay the bills…Most of the ones i grew up lived frugality to be able to stick their income into assets other means. And they have the intelligence to pull this off as opposed to your dipshit MBA worker. Most americans are lousy money managers and piss off whatever they earn, however much they earn. Wanna know why you see a lot of otherwise normal working class asians in Carmel Valley, LJ? Because they manage money better than your average american, even though they may make less.

As a 2nd generation, I have the work ethics of my previous generation, while also understanding the importance of "playing the game." So while detest people that have a 10:1 bullshit ratio, I myself play closer to 5:1 bullshit ratio so that I don't get screwed by a dipshit MBA dude. Plus I have all the cultural advantageous to bridge what gap with our satellite offices. And pretty much, being able to see through the 10:1 bullshitter, I won't hire those people regardless of what ethnic background they have..I also wouldn't be caught dead working in a heavily political company where the politics aren’t in my favor.. One reason why I would never work at a defense company is because when I interned there I found the job to be (1) boring (2) moved too slow (3) and run by too many bureacratic baffoons- more so than other companies in other tech fields and (4) the pay was crap. Plus i didn't like the idea of my future indirectly being dependent on how much the U.S. government wanted to spend on toys any given year…1st gen immigrants are pretty much more willing to put up with that crap…

Actually, one advantage of working for a defense company is that you'd have a greater chance of be laidoff due to a shrinking defense budget than being outsourced. Don’t believe me? Talk to folks that work in those big defense companies here in San Diego that are waiting for big contracts from the Gov lately.

As far as the third generation. Yeah, my kid will probably end up being fatter and lazier. I have to say, I’m not even close to the type of frugality of my parents….side affect of being raised here.

And lastly, I have nothing against caucasians. The few that made it into my engineering were brilliant and creative.

[Coronita]

I guess I could go work in Manhattan for a hedge fund and make six figures stealing money from old people, but to me immorality isn't something to be associated with a 'right mind'. Food for thought!

 

Food for thought: how's managing a hedge fund that takes/loses money from “investors” who willingly took the risk any different from folks here who sold homes to dumb buyers during the peek, knowing that the buyer(s) can’t afford the home and will eventually lose their home, only to buy it back dirt cheap??

[Coronita]

I guess I could go work in Manhattan for a hedge fund and make six figures stealing money from old people, but to me immorality isn't something to be associated with a 'right mind'. Food for thought!

 

Food for thought: how's managing a hedge fund that takes/loses money from “investors” who willingly took the risk any different from folks here who sold homes to dumb buyers during the peek, knowing that the buyer(s) can’t afford the home and will eventually lose their home, only to buy it back dirt cheap??

[Coronita]

You know, you guys can't have it both ways!

If domestic jobs are getting outsourced, thats gonna hit domestic asian job seekers just as hard as anybody. Especially those in the IT jobs that can be most easily sent overseas.

 

…Unless your skills are better than others…. Or you work for a company that requires some 2nd language to bridge gaps.

Sorry Kewp, but unless you haven't noticed, some of the successful companies tech companies here in San Diego are run by foreigners or have foreign roots. Also, in tech field there’s a high probability your next boss/employer will be asian (like it or not). Simply because, these companies overseas are outgrowing and outperforming our domestic counterparts. Like someone previously alluded to Huawei is giving Cisco's run for the money, most electronics are made in China, and most software or a good portion of it is made in india.

As far as your MBA analogy. I'm really lost. Because actually I have a lot of relatives and buddies that graduated from Wharton, Stanford, Harvard…And usually top 10 mba's don't end up working at these normal companies in marketing or sales unless they totally foobared their MBA degree or want an easier life/family constraints….The big bucks are over on Wall Street, VC's, LBO shops, Management Consulting (Mckinsey,Bain,BCG), hedge funds, or computational finance on W.S.. And in those jobs, you can't suck at math period….(BTW: a good portion of these hires are computational finance/risk analysis/etc are indians/asians/russians/eastern europeans because of their computation abilities. Hedge funds also hire a good portion of these folks)

 

…..And if you're not in the top 10 mba's, it's pretty useless for these positions, because they won’t talk to you..You’re stuck with the traditional marketing/sales positions at a company…and really isn't significant enough to really be considering it to be your primary source of income imho. Last time I checked, none of the schools in local San Diego would i consider to have any relevant MBA program that would really make any significant salary differential. And talking to folks from USD, UCSD, SDSU who gave me what numbers they are seeing, seemed to confirm that. (Was considering an MBA here locally, but it wouldn’t really add value to what I currently do, and really wouldn’t open doors to things that would offer significant higher pay).

You have to understand what happened during the dot bomb..A lot of non-techies became techies, and then were pushed out because their skills really sucked. Then they went to go get their MBAs, so there's a flood of MBAs at all sorts of levels. Most of them are pretty useless. The only place where I see them add merit are at companies that stick to formality (typically defense companies)…But no one in their right mind would work at those companies because the pay in those companies suck overall…..I have nothing against MBAs. But just having one doesn't mean much these days unless you actually do something with it. And while you could probably learn some things from the program, I would say in general you could learn from everything whether you really had one or not. Plenty of immigrants I know here that run companies and businesses without an MBAs, and they significantly better than you and I ever will be.

 

[Coronita]

You know, you guys can't have it both ways!

If domestic jobs are getting outsourced, thats gonna hit domestic asian job seekers just as hard as anybody. Especially those in the IT jobs that can be most easily sent overseas.

 

…Unless your skills are better than others…. Or you work for a company that requires some 2nd language to bridge gaps.

Sorry Kewp, but unless you haven't noticed, some of the successful companies tech companies here in San Diego are run by foreigners or have foreign roots. Also, in tech field there’s a high probability your next boss/employer will be asian (like it or not). Simply because, these companies overseas are outgrowing and outperforming our domestic counterparts. Like someone previously alluded to Huawei is giving Cisco's run for the money, most electronics are made in China, and most software or a good portion of it is made in india.

As far as your MBA analogy. I'm really lost. Because actually I have a lot of relatives and buddies that graduated from Wharton, Stanford, Harvard…And usually top 10 mba's don't end up working at these normal companies in marketing or sales unless they totally foobared their MBA degree or want an easier life/family constraints….The big bucks are over on Wall Street, VC's, LBO shops, Management Consulting (Mckinsey,Bain,BCG), hedge funds, or computational finance on W.S.. And in those jobs, you can't suck at math period….(BTW: a good portion of these hires are computational finance/risk analysis/etc are indians/asians/russians/eastern europeans because of their computation abilities. Hedge funds also hire a good portion of these folks)

 

…..And if you're not in the top 10 mba's, it's pretty useless for these positions, because they won’t talk to you..You’re stuck with the traditional marketing/sales positions at a company…and really isn't significant enough to really be considering it to be your primary source of income imho. Last time I checked, none of the schools in local San Diego would i consider to have any relevant MBA program that would really make any significant salary differential. And talking to folks from USD, UCSD, SDSU who gave me what numbers they are seeing, seemed to confirm that. (Was considering an MBA here locally, but it wouldn’t really add value to what I currently do, and really wouldn’t open doors to things that would offer significant higher pay).

You have to understand what happened during the dot bomb..A lot of non-techies became techies, and then were pushed out because their skills really sucked. Then they went to go get their MBAs, so there's a flood of MBAs at all sorts of levels. Most of them are pretty useless. The only place where I see them add merit are at companies that stick to formality (typically defense companies)…But no one in their right mind would work at those companies because the pay in those companies suck overall…..I have nothing against MBAs. But just having one doesn't mean much these days unless you actually do something with it. And while you could probably learn some things from the program, I would say in general you could learn from everything whether you really had one or not. Plenty of immigrants I know here that run companies and businesses without an MBAs, and they significantly better than you and I ever will be.

 

[Coronita]

Home price above $500K are McMansion speculators or fradulent loan purchasers. E.g., As I drove by one home priced at 750K I noticed the 12 people living, eating and parked in the front yard. I am sure that given the style of clothing (white t-shirts and long black shorts covering arm tattoos) that these individuals were not lawyers, doctors or people with professional degrees who make over 100K in order to purchase expensive homes) Some neighborhoods can go from nice street to ghetto. . . when you see a 600K home with a 1999 Ford Focus and a Ford F150 packed with a Lawnmower you can do the Math? I forsee complete financial meltdown and 12,000,000 new credit applications to purchase the aftermath.

 

Thanks for the info…Oops. On the weekends, I'm outside wearing a t-shirt covered in paint mowing the lawn with a hand push mower in Carmel Valley. Maybe that's why my neighbors hate me. But I guess it's because I'm cheap and don't want to pay $60 to hire a gardener to mow 5 feet of grass. (I don't even have extended cable).

 

[Coronita]

Home price above $500K are McMansion speculators or fradulent loan purchasers. E.g., As I drove by one home priced at 750K I noticed the 12 people living, eating and parked in the front yard. I am sure that given the style of clothing (white t-shirts and long black shorts covering arm tattoos) that these individuals were not lawyers, doctors or people with professional degrees who make over 100K in order to purchase expensive homes) Some neighborhoods can go from nice street to ghetto. . . when you see a 600K home with a 1999 Ford Focus and a Ford F150 packed with a Lawnmower you can do the Math? I forsee complete financial meltdown and 12,000,000 new credit applications to purchase the aftermath.

 

Thanks for the info…Oops. On the weekends, I'm outside wearing a t-shirt covered in paint mowing the lawn with a hand push mower in Carmel Valley. Maybe that's why my neighbors hate me. But I guess it's because I'm cheap and don't want to pay $60 to hire a gardener to mow 5 feet of grass. (I don't even have extended cable).

 

[Coronita]

O.K. hawk, those are fair rules. I need to research the murrieta zips before placing my bet but I will place a side wager of a shot of choice at the pub that 92592 falls last. I will gladly buy you a shot if you find me a 92592 down 50% because I'll buy the shot and the house. To answer the question the other poster said of why would anyone pay 500-700 for a home out here despite being far from San Diego, good question. The answer is that it is overpriced and with gas rising it will go down first but that doesn't mean San Diego isn't overpriced as well. The reality is that not everyone works in the city. I have mostly worked in North San Diego County for the last fifteen years and a 25 minute drive isn't that big of a deal to me. The schools, crime rate and people are directly in comparison to Carlsbad, 4-s or Poway, well above any other reamaining N. County city and probably half the price of those three communities. They either don't want to live in the places they can afford or they don't actually drive to Downtown S.D. You may be suprised at the amount of jobs in North County San Diego and how expensive the housing is or how rotten the schools and neighborhoods are in the 400-500k areas of N. County. When I got out of college I got a job in Vista and the drive from San Diego took longer than the drive to work from Temecula, it was cheaper, nicer and safer than my options at the time so I moved. I can only guess that other have come over the years for similar reasons.

 

I'm just trying to understand the rationale to buying in temecula at a high price. Because at $700k, you could buy something inland (albeit smaller yard possibly). I'm just trying to understand the rationale of why a $700k home in say temecula would make sense, but a $700k home in say 4s ranch or rancho penisquito wouldn't. I always thought that more jobs/opportunities are inland and the schools would be better, but I guess I'm wrong.

[Coronita]

O.K. hawk, those are fair rules. I need to research the murrieta zips before placing my bet but I will place a side wager of a shot of choice at the pub that 92592 falls last. I will gladly buy you a shot if you find me a 92592 down 50% because I'll buy the shot and the house. To answer the question the other poster said of why would anyone pay 500-700 for a home out here despite being far from San Diego, good question. The answer is that it is overpriced and with gas rising it will go down first but that doesn't mean San Diego isn't overpriced as well. The reality is that not everyone works in the city. I have mostly worked in North San Diego County for the last fifteen years and a 25 minute drive isn't that big of a deal to me. The schools, crime rate and people are directly in comparison to Carlsbad, 4-s or Poway, well above any other reamaining N. County city and probably half the price of those three communities. They either don't want to live in the places they can afford or they don't actually drive to Downtown S.D. You may be suprised at the amount of jobs in North County San Diego and how expensive the housing is or how rotten the schools and neighborhoods are in the 400-500k areas of N. County. When I got out of college I got a job in Vista and the drive from San Diego took longer than the drive to work from Temecula, it was cheaper, nicer and safer than my options at the time so I moved. I can only guess that other have come over the years for similar reasons.

 

I'm just trying to understand the rationale to buying in temecula at a high price. Because at $700k, you could buy something inland (albeit smaller yard possibly). I'm just trying to understand the rationale of why a $700k home in say temecula would make sense, but a $700k home in say 4s ranch or rancho penisquito wouldn't. I always thought that more jobs/opportunities are inland and the schools would be better, but I guess I'm wrong.

[Coronita]

Fearful"It is a sense of superiority. When you know better, and sit on the sidelines during an asset bubble,"

I made the best purchase deal of my life in San Diego in 2004.Many of my friends were still doing fine.It's called experience. The excuse you use actually only works for the last two years. What about the rest of the time? It's convenient to compare yourself to losers.I bet you are young. You are sitting in a really great position now. Your time will come.
Best wishes

 

I have to side with Rustico on this one. Everyone always has 20 20 vision in hindsight. I'm not sure what's worse, folks who blindly rush in, or folks who never take advantage of a situation   The former imho is too reckless, the latter are the forever skeptics at everything.

As far as sitting on the sidelines. The way I look at it…There are different reasons why a lot of folks are sitting on the sidelines. Some are sitting there because they made an active decision (sold home,  renting because they believed homes are coming down).Some just don't care if they rent. Others are sitting on the sideline because they were priced out.  I'm not going to judge the buy/rent decision or whose in what category. It just seems like there's a lot of confusion these days about folks that were proactively smart sideliners versus the coincidental sideliners. Just like there are those who sold homes and made money out of smart decision making process, and those who happen to have just done that out of coincidence (I'll admit, I'm more the latter).

What I don't understand is that for most folks that hope for a utter demise, I don't think they're really going to be in that much better shape then everyone else if the financial market completely collapses. Because if we really do have a financial crisis, unless you are sitting on millions in gold,

tough credit tightening + high mortgage rates + inflation/dollar devaluation  ==> home still not affordable.

And if you are sitting on gold millions, you're probably not one of the folks wishing for people's demise because there's really no point. 

 

 

[Author]

Posts