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CoronitaParticipant[quote=spdrun]If you’re saying that GS is basically running a pump-and-dump scam, that’s one more reason to be terrified of the “big” social media stocks. I’m not afraid of tech companies, but I think they should provide more value than being the next MySpace.
FB has essentially admitted a problem with ad revenue going forward by forcing pay-to-play ($1 to promote this post, $1 to message this user without the message going to spam) on ordinary non-commercial users. Also, with the NSA creepiness, Americans are becoming increasingly concerned about privacy, and it’s becoming quite clear that FB doesn’t have their best interests in mind on that front.
DOW: -73
NASDAQ: -11
(at close)And again: If the Fed would have been smart a year or two ago, they’d have started buying infrastructure development bonds rather than gov’t bonds and MBS. Infrastructure improvements provide lasting value rather than blowing bubbles.[/quote]
And you’re conveniently leaving out that FB closed at $50.20…
Not that I really care, about FB or frankly how the stock market indexes are doing at this very point in time.
I’m not a FB shareholder or shorter, and I have about 40-50% cash sitting off to the sideline doing nothing right now, except maybe to pay for homes or whatever else comes my way…
CoronitaParticipant[quote=spdrun]As far as law school, if you can’t get a scholarship to Hahhhhhhhvard, there’s no shame in going to a public law school and limiting your debt to $50-60k for the whole duration. Really makes no difference after 10-15 years whether you end up with a JD from SUNY or Stanford if you’ve a competent attorney — ultimately, it’s a professional degree that allows one membership in a guild (the state bar).
And update for flu:
FB steady as she goes at $49/share.
DOW -44, NASDAQ -6.[/quote]Come on… With Goldman Sachs lead underwriter for twitter, you really think GS is going to let social media fall before then without trying to put a spin on it during it’s roadshow??
You know the game is rigged…
CoronitaParticipant[quote=flyer]
As flu said, it’s great for current homeowners, but not great for those trying to get in or move up. It’s especially sad that most of the kids who have been raised in the area can never afford to live there when they grow up–should they want to. IMO, that will be true in most of San Diego in the future.
[/quote]Funny you should mention that….
Speaking of kids that can’t afford to live where they grew up.
One of my neighbor is a dentist that runs his own practice. According to him, he’s been seeing a lot of young folks that graduated from dentistry applying for work at his practice. He’s been shocked that many of these new grads are $300-400k in the hole with their student loans. That’s a double whammy for them, because (1) unless you own your own practice, you’re not really bringing in good money. (2) you won’t be able to afford your own practice because if you’re already $300k-400k in the hole, good luck finding a lender to lend you money to start your own practice.
My other neighbor on my street who’s an attorney that co-runs his own practice also says the same thing about new law grads. Especially the ones, that don’t end up in the big, higher paying firms.
I’m not sure how real or unreal that is. But if it’s not far from the truth, looks like we’re not that far off from expanding the age old adage “you have to have to have money to make money” to “you have to have money to let your kids make money”
CoronitaParticipant[quote=JohnAlt91941][quote=flyer]
As flu said, it’s great for current homeowners, but not great for those trying to get in or move up. It’s especially sad that most of the kids who have been raised in the area can never afford to live there when they grow up–should they want to. IMO, that will be true in most of San Diego in the future.
[/quote]Why? What’s so different now than say, 2 years ago?[/quote]
A lot… 2 years ago, everyone was still on the fence on whether to buy, even though prices were still relatively reasonable. That includes a lot of people who had the means to buy as a trade-up.
Those who have bought, did so under the most favorable interest rate terms, under the most stringent lending requirements we’ve seen. Jumbo’s were virtually non-existent (or if they existed, had a huge rate difference from conforming or conforming+).Translation. Strong buyers with favoring monthly payments due to low interest.
And perhaps people on the fence who were smart (unlike me), moved up at this time, new home prices were still discounted, interest rate was low, and on a previous home, refinance rates were low, so you could actually slightly cash flow your previous home in CarmelV and just sit it out and wait for appreciation to kick in, since this area, short of a Sorrento Valley implosion, a school district implosion, or falling into the ocean, it isn’t going anywhere.
Rents for a 5bdroom SFH these days is around $3900/month give or take $200-300. If you look at some of the 3 bdroom apartments are going for around $2400-2600 on up. And yet, there’s no end in sight, schools are getting more crowded, more people seem to be moving in, and buyers are still buying, and builders are still building new apartments to absorb the demand.
I’m not sure if there is much more to move up in price, but it’s really irrelevant. Prices are near or above peak, there wasn’t this flood of 40-50% off discounts as people had tried to predict.
CoronitaParticipant[quote=spdrun]And by Fecesbook, you mean “the next MySpace?” Remember them? Advertising revenue is all well and good if people actually give a fuck about the ads (thus prompting more advertising), which I’m not convinced that FB users actually do. Seriously, I can’t remember the name of a single ad or “sponsored story” from my Fecesbook feed.
This being said, it’s a good stock to scalp-trade.
LinkedIn, on the other hand, is fucking flat after dropping 23.3% today(!). Might need to buy me some tomorrow — I love trading on bad/meh news.[/quote]
You’re arguing like you’re trying to rationalize the markets are rational…
Someone here once said something very wise…
The markets can stay irrational longer than you can stay solvent.
At one point in time, I was on the FB is a ridiculous company at $30/share (when they had no mobile strategy)…All the way down to $18/share.
Looks like they got enough momentum to at least carry on the speculation play in the short term (no, I’m not on either side of the fence on this one… To much churn for my tastes)…
Let me know after you’ve made $1million in the stock market and we can talk about how accurately you can predict things.
CoronitaParticipant[quote=spdrun]Speaking to asset prices, it’s interesting this time around. Fed stands pat, NASDAQ -20, DOW -55 (was down as much as -105 earlier). Dollar up a bit, quite nicely. Looks like QE3 is losing its effect.[/quote]
FB up $6 AH. heh heh.
CoronitaParticipant[quote=spdrun]Here’s hoping for Q4 earnings to disappoint in mid-January and the bickering over the budget to flare up again. Those two things might be the catalysts needed to get the Big Tumble(tm) started.
This being said, momentum in the market has slowed down a LOT since this summer/spring. I’m not even sure if closing prices are a good indicator, since deals take a while to close.
If you look at asking prices, they’re steady or falling a bit at this point. Maybe not in CV, but in SD Co as a whole.
PS – why the f would you be happy as an existing owner, unless you’re planning to ATM the place and invest in rentals elsewhere? An $100,000 rise in house value and a grapefruit still gets you your house and a grapefruit.[/quote]
I think you’ve been beating the market crash drum for about 6 months and counting so far. Pretty big opportunity cost imho,.
CoronitaParticipant[quote=spdrun]Hope. Springs. Eternal.
Just like the old guy down the street who was trying to pimp an old, beat down, Mercedes 450SL for $10 grand — the for sale sign was on for about a year before he either lowered the price or found a sucker.[/quote]
Prices might not be that insane (yet). But closing indicate we are at peak here.
Mixed feelings here. As a existing owner, I’m happy. But as someone that wishes to move up eventually, I’m sad.
CoronitaParticipantThe crack is getting more and more purified….
http://www.redfin.com/CA/San-Diego/10808-Vereda-Sol-Del-Dios-92130/home/6314385
$466/sqft
HAHAHAHAHAHA.
Lol… We’re above peak at this point.
Ok, seriously… Who were the ones that were saying we’d see 40-50% off from peak in CarmelV?
CoronitaParticipant[quote=spdrun]Home prices are only crazy in certain areas. I still periodically see condo listings in the $200-250 psf range in decent parts of SD. If you’re starting out your career, why not buy a 1/1 or a 2/1 depending on your salary and keep it as a rental when you start a family?
Bay Area == too many people chasing too little money. Like the stereotype of Hollywood. A lot of actors and musicians had to go back to NY to make it because the signal-to-noise ratio in LA was too low.[/quote]
Worked alright for me when I was younger.
CoronitaParticipantI can’t wait so see how much housing will be in One Paseo , when it opens.. If it’s even possible to purchase housing in there.
CoronitaParticipant[quote=AN]Can CarmelV pass some of that good crack to Mira Mesa? We can use some of that good stuff.[/quote]
Mira Mesa has plenty of upscale crack addicts too.
It might not be the best crack that goes around, but it’s pretty darn close to it.
Lol $331/sq ft in mira mesa…..
http://www.redfin.com/CA/San-Diego/10636-Dabney-Dr-92126/unit-153/home/4590737
I don’t know why people are arguing between Sorrento Valley and Mira Mesa.. It’s all looking about the same to me in terms of crack-a-holic pricing….
October 27, 2013 at 5:42 PM in reply to: OT: Upcoming civil war between Sorrento Valley & Mira Mesa #767323CoronitaParticipant[quote=AN][quote=flu]Shit. I’m screwed….
Not looking good at all in 92126…
http://www.sdlookup.com/Real_Estate-Mira_Mesa-Homes_For_Sale-92126?srtcol=5%5B/quote%5D
huh?[/quote]Inventory while might be slightly there, prices clearly aren’t 🙁
October 27, 2013 at 1:22 PM in reply to: OT: Upcoming civil war between Sorrento Valley & Mira Mesa #767321CoronitaParticipantShit. I’m screwed….
Not looking good at all in 92126…
http://www.sdlookup.com/Real_Estate-Mira_Mesa-Homes_For_Sale-92126?srtcol=5
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