[Coronita]

I can always count on the three of you BG, spdrun, and Brian, to take a thread that started out talking about Mira Mesa and evolve it into something completely unrelated to Mira Mesa.

You guys should work together working on the next script for Seinfield. Well done. That would be awesome.

[Coronita]

I have another dumb question. Why is the spread between spot price and ask price so large for metals like pallidium and platinum? Spot prices of both is lower than gold but ask price is much higher from spot. Is it just because the metal is not traded as much? How do those two compare to gold?

[Coronita]

[quote=livinincali][quote=flu]
And it doesn’t affect my bottom line.[/quote]

It does if they try to fill the hole with property tax increases.[/quote]

Prop 13

[Coronita]

[quote=no_such_reality][quote=bearishgurl][quote=FlyerInHi]When the predicted debt crisis hits and we have 20% interest rates then house prices will come down. …[/quote]If that happens, I’ll be loving it … regardless of the fluctuating value of whichever residence I own at the time. I’m too old to recover from any over-exposure to the “stock market casino.” :=0[/quote]

Except if the stock market casino implodes, CalPERs implodes and then the State and local Governments implode and Stockton will be a wishful memory.[/quote]

We actually already have a precendence of what happens to pensions when the local government can’t pay…Detroit, and rewriting pension contracts,so I really don’t think people need to worry about it.

[Coronita]

[quote=spdrun]

100k is middle class. In high cost areas of SD, LA, BayArea, I would even argue if that’s middle of middle class.

So? Let them move to the desert. Is someone entitled to live in SD/LA/SF just because they’re an ex-cop?[/quote]

I think you need to adequately compensate certain public workers otherwise infrastructure falls apart. That said, the pension situation is alarming imho but I don’t think paying cops $100k is really out of the norm. But what I think doesn’t really matter. It is what it is. And it doesn’t affect my bottom line.

[Coronita]

[quote=spdrun]Good. A lot of overpaid ex-cops who retired before 50 at $100k+/yr will have to eat rice and beans. Problem?

Guess they’ll find out how the other half lives.[/quote]

100k is middle class. In high cost areas of SD, LA, BayArea, I would even argue if that’s middle of middle class.

[Coronita]

On the other hand, three MM condos is probably what it’s going to cost to send my kid to Stanford medical school….if she can get in…Heh heh

[Coronita]

[quote=The-Shoveler]The one housing segment that they are building enough (or even over building) is the higher end of the market (over 1 to 1.2 million) or so.

They are definitely not building enough condos under 300K or SFH under 500K.

At least not in SD county.

I think they will be building quite a few in the next few years along the I-15 600K to 900K homes in north county though.[/quote]

The funny part is I visited Pacific highland ranch off of 56. Most of the new construction is all sold out. These aren’t exactly starter homes either.

[Coronita]

[quote=outtamojo]Value seems to be in mid- high to higher end these days. I see lower end stuff being offered for what used to be higher end ask prices. Would it be a good move to sell the condos and put that money into something higher end or at least more prime? Something like a house in a choice area I could rent out for awhile and give to the kids if they want to live in that area. I wish I had the guts back then to use 15 year mortgages on my rentals.[/quote]

We all have our “I wish I had done XXXXX years ago”. You’re not alone. Well, look at it this way. It could have gone badly the other way too. You never know.

I’m going to be spending most of this year and next rebuilding my cash position. One thing that I’ve noticed is that ever since I paid off that god awful mortgage, it definitely feels like I have less net worth at hand. As a result, I’m much more careful with the remaining net worth I do have. Funny how that works.

I think run most efficiently they less liquidity I have. If I’m too liquid, I have a tendency to get slightly less careful on where my spending goes.

[Coronita]

[quote=flyer]Seeing this in many neighborhoods, and was just talking about it with family/friends the other day. Like us, we don’t know anyone who ever plans to sell any of their primary or investment properties, so it does not bode well for future buyers–or renters.[/quote]

The way I look at it, YOY, it’s been about 6.5% return for me for the past 3 years, excluding appreciation. In the worst case scenario, a 19% decline from the purchase price would be around the break even point. That would be 19% below prices that were already cratered when they were purchased. And every additional year of rental income, that break even point goes even lower. Meanwhile, rent keeps rising, albeit at a slower pace. Meanwhile, that CD is still around 1%. And I’m just a small fish. Others with much deeper pockets probably have a much larger risk tolerance, so they probably have even less reasons to sell.

[Coronita]

[quote=OwnerOfCalifornia][quote=flu]Is there any issue with coins tarnishing if they aren’t kept sealed in a box? Will that affect resale value significantly?[/quote]

I have some krugerrands I bought 12-13 years ago, dated from the 1970’s. They look really good, not perfect mint-state, and the were sent to me in the vinyl sleeves I speak of. I don’t think they’ve changed at all (but that’s just me eyeballing vs my 13 year old memories) and the sleeves aren’t sealed. That’s the thing about gold that the ‘bugs’ harp about: chemically, it’s almost indestructible. My eagles and maples in unsealed sleeves are similarly fine after years.

I’d be more worried about silver, but the silver I have looks great after many years,no change that I can see.

Yeah, anecdotally I think the resale value will be affected if your bullion gets damaged or tarnished, but buy prices shouldn’t sink much lower than spot.[/quote]

What if I took all my coins one day and decide to melt them all down into one big slab? Just kidding….Though it would be more convenient to transport I think.

[Coronita]

[quote=OwnerOfCalifornia][quote=flu]Don’t people use bank safety deposit boxes. Or is that a no no?[/quote]

Yeah that’s fine, and I have a bank box. The bank does not necessarily insure the contents! Check about your options with that

[quote=flu]How are you guys storing your coins[/quote]

I buy generic vinyl coin sleeves, fits any gold & silver bullion that I have. And the coins I’ve purchased locally are protected as such. Search on Amazon, etc.[/quote]

Is there any issue with coins tarnishing if they aren’t kept sealed in a box? Will that affect resale value significantly?

[Coronita]

I see. So buying bullion is a lot like getting a random year coin in that it really is only melt value.

OK…. For coins or bullions I prefer to buy only freshly minted ones. I figure it is unlikely buying a 2016 minted one will be fake since they will first hand from mint to reputable seller like apmex. The random year coins are probably.second hand, and although a reputable dealer.should have screened them.for fakes, you never know if one slipped through the cracks

How are you guys storing your coins? Do you actually get plastic cases for them? Its kind of annoying each coin is a different size. I bought a box of cases for the American eagle, and its too big for the maples and too small for the Austria coins. I cheated for the Austria coins and just trimmed the foam for the eagles.

[Coronita]

Inventory is just horrendously low.

http://www.sdlookup.com/Market-92126-Mira_Mesa

PPSF for SFH in MM is around $340/sqft and $315/sqft for condos.

Looks like the lizards are getting more expensive.

There’s like no turnover. Probably, because most the existing owners are all strong hands that don’t need to sell.

[Coronita]

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