[Coronita]

I will go on and admit it… The frontrunners of the GOP are freaking nuts.

Really, this is the best the country can do?

I am predicting this will end up being clinton versus fiorina. Another two nut jobs.

We’re screwed either way.

[Coronita]

VW’s market cap just took a $17billion haircut this morning. That’s really too bad. Because for the longest time, I had high hopes for clean diesel.

http://finance.yahoo.com/news/vw-sees-billions-wiped-off-102639135.html

[Coronita]

The nice thing about having an oncologist at UCSD is that pretty much, access to any other doctor is pretty quick. I guess in the system, I am still considered higher risk. So my.appointments usually get filled pretty quickly. Ive also noticed that at least at UCSD, they seem to be running 7day work weeks even for non urgent, non er care, and outside the cancer center(which already ran 7 days a week)….For example, you can actually get a nonemergency imaging (ct MRI ultrasound) on the weekends, even if its not an emergency. So it seems like the hospitals and doctors are running at full capacity.

It seems like its a great time to be in the medical profession

[Coronita]

San Diego is probably not a bad place for retirees. The medical care here is pretty good. And if you really need specialized medicine, cedars Sinai and UCLA isn’t too far away.

Ive been around most of the hospitals in socal and up to Cleveland clinic (which is I say is still one of the best facilities). If you have something serious, you probably want to stay in a group with affiliation to research. For that reason, I prefer UCSD versus Scripps. Some of the doctors in Scripps frankly seemed more interested in cutting me open for $$$ then actually solving problems…

[Coronita]

Anyway, blame all you want on whatever group you feel like blaming it on as to why real estate prices are high, rent prices are high. Whether it’s because you feel like it’s foreign buyers, speculators, low interest rates, too many cash buyers, weather, too many well paid people.

One of my neighbors just paid close to $1.3 million for a home in my neighborhood. Previous peak price was closer to $1.15. And they aren’t from china. Just a two income family which both adults are doctors relocating from out of state.

I’ve been seeing a lot of doctors relocating to CA buying in my neck of wodds, much more so than engineers. This is the third doctor family around me. Perhaps, you can blame the sudden uptick of doctors migrating into CA because of Covered California?

[Coronita]

[quote=bearishgurl]I don’t think the average Chinese citizen who bought RE in the US (most of whom still live in China) are attracted to “trophy” properties. They want rental income from bread-and-butter real estate investments, plain and simple. Chinese investors cleaned up big time in over 20 East LA County cities during the recent downturn of 2009 through early 2012. This group bought up SFRs and condos en masse, almost all of which were built from 1950 to 1985. The vast majority of these investors still live in China to this day. They have hired local property managers who mainly speak Mandarin, Tagalog, English and Spanish to keep them filled and properly managed.

Oh, and btw, I am told that almost all of these investors bought these properties sight unseen (from internet pics and with a local agent). They didn’t particularly care about the condition and did whatever improvements were necessary after COE (thru their property mgr) to immediately get their propert(ies) advertised for rent.

These Chinese investors weren’t stupid. In hindsight, almost all of the properties in their new RE portfolios (in LA County) turned out to be cash cows :)[/quote]

IF you say so.

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[quote=mixxalot]Well I am seeing a lot more Chinese in San Diego renting and buying places in group tours than just a few years ago. I will preface my thoughts that I have no issues with them as I do have friends from China and Asia but the problem is lack of common sense with overpaying real estate prices. I was telling my buddy the other day that I can buy a home outside of coastal areas for under 500K and a nice sailboat with a live aboard slip for a fraction of coastal real estate and have a better experience being in a big place and have water recreation.[/quote]

Again, I said it before, whether you think it’s a good time or not good time to buy is irrelevant to some buyers, since it depends. For the 1% wealthy in China you are talking about, buying a home here and possibly losing 20% of the value here is still probably better than keeping money in China and losing 100% of it when the communist regime are looking for scapegoats to blame for the financial crash. And while it seems like a big deal to people here, for some of these buyers a few million is pocket change. To them, it’s like taking a depreciation hit the the moment you drive off the lot with a new car. So it’s a completely different ballgame for them. You can bet the 1% right now are more scared about government confiscating their wealth OR finding any reason to put them in jail as a scapegoat, and less worried about losing 20-30% on say $1-3 million home.

http://www.ft.com/cms/s/0/ada9ca96-4bab-11e5-b558-8a9722977189.html
So basically, the stock market crashes, government probes brokerage firms, bans short selling, warns media about reporting on bad financial news, and throws a few people in jail. And this is just the start…And people thought government intervention in the US to save wall street was bad…

While you say it doesn’t bother you, it does seem like you do have a problem with foreign buyers buying, otherwise you wouldn’t have brought it up. It only accounts for about 18-20% of all RE purchases, and really only more so if you only look exclusively at the high end, in certain areas, namely tied to the public schools and proximity to where other asians are congregating. So unless you are in the market for the high end, it’s unlikely their purchases (cash or otherwise) is going to affect your ability to buy a home, since for most purposes, it’s unlikely those cash buyers are in the same market.

I doubt many of them, for example, are buying condos or homes in sorrento valley, for example. You can blame those people who bought those properties who wanted to capitalize on the achievable cash flow, given how high rent prices are right now. And you can blame the same folks for holding on to those homes until they (hopefully) get a bigger payout next year. And those buyers are pretty diverse.

So you don’t really need to worry about San Diego turning into Irvine or Montrey Park or Arcadia. Even in carmel valley, only 14% of the households would be classified as asian.

http://www.sdlookup.com/Market-92130-Carmel_Valley

What is interesting is there apparently are more women in carmel valley than men.

[Coronita]

[quote=utcsox]I wonder why the “corruption sewage from Red China” are not destroying Carlsbad, Encinitas, Cardiff and Solana Beach with “suit of cash”. Can it be these beautiful lizards and the prices of walls are deterrents to them? Other cities in California shall take notes and learn from it to reduce the price bubble!![/quote]

lol….

[Coronita]

[quote=AN][quote=Rich Toscano]Lizards???[/quote]
Yep, the infestation kind. Even worse are the ones that love the unbearable heat.[/quote]

In exploring Carlsbad, Encinitas, Cardiff, Solana Beach, I discovered the lizards are absolutely beautiful in these areas. Much more beautiful than the lizards that I could find in my backyard and your backyard. But the price of walls up there are also considerably much more expensive.
You know, to keep the wind and sand out.

This is a freaking trip..
http://www.sdlookup.com/Pictures-150007635
http://www.sdlookup.com/MLS-150010383-1112_Neptune_Ave_Encinitas_CA_92024
http://www.sdlookup.com/Pictures-150048330
http://www.sdlookup.com/MLS-150035244-2150_Cambridge_Cardiff_CA_92007
http://www.sdlookup.com/Pictures-150037207

I’m in the wrong profession…

[Coronita]

[quote=flu][quote=mixxalot]Chinese are invading California and driving up real estate prices. Saw it in bay area, and Orange County now they are destroying San Diego with suitcases of cash. It is the corruption sewage from Red China.[/quote]

Got envyfluenza?[/quote]

Must be all those anchor babies that Bush and Trump keep talking about 🙁

[Coronita]

[quote=mixxalot]Nope I don’t just stating root cause of price bubble that is all. The Japs did the same thing in the 1980s and look how well that turned out.[/quote]

So do you have the actual closing stats for all of san diego county to see what percentage of purchases are chinese from mainland china? I specially ask because, well for instance there are some chinese that are US citizens and/or naturalized citizen, that well are just like every domestic buyer, with the exception that they possibly manage their money better than the average person….And then, while visiting places like Encinitas, Carlsbad, Cardiff, RSF… I don’t see too many chinese buyers for those homes there. I think the bulk of those buyers are still, for the lack of the better word of describing people in general, white…

So, I’m curious what lead you to conclude that the reason why real estate prices are unaffordable is the fault of roughly 18-20% of all real estate purchases in CA that are that are buyers from mainland china? Could it be also possible that other people were luckier, didn’t go through a major layoff or financial crisis during these years, did ok with investments, had access to cheap borrowed money and were qualified to get those loans?

[Coronita]

[quote=mixxalot]Chinese are invading California and driving up real estate prices. Saw it in bay area, and Orange County now they are destroying San Diego with suitcases of cash. It is the corruption sewage from Red China.[/quote]

Got envyfluenza?

[Coronita]

So much for VW clean diesel…

[Coronita]

You can probably add some more to that in January once avago completes the acquisition of Broadcom. Great for shareholders. Bad for employees.

[Coronita]

That website is filled with nutcases. I question even if most of the posts are from real employees or ex-employees. Just read some of the posts. Some of the posts are so far out there, it’s funny. I would take everything with a grain of salt.

What is clear is that there appears to be a lot of people with an ax to grind with Qualcomm and their employees. I don’t know why.

From some of colleagues there, there hasn’t been a reduction in some departments yet, so it is highly unlikely someone knows the bodycoint distribution, unless that person works in HR and is leaking information.

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