[davelj]

6-figure lifeguards… what does this no longer surprise…

http://taxdollars.ocregister.com/2011/05/12/o-c-s-200k-lifeguards-spark-international-shock/82891/

[davelj]

6-figure lifeguards… what does this no longer surprise…

http://taxdollars.ocregister.com/2011/05/12/o-c-s-200k-lifeguards-spark-international-shock/82891/

[davelj]

6-figure lifeguards… what does this no longer surprise…

http://taxdollars.ocregister.com/2011/05/12/o-c-s-200k-lifeguards-spark-international-shock/82891/

[davelj]

6-figure lifeguards… what does this no longer surprise…

http://taxdollars.ocregister.com/2011/05/12/o-c-s-200k-lifeguards-spark-international-shock/82891/

[davelj]

[quote=outtamojo][quote=FormerSanDiegan]Right now, late Spring 2011 could be among the best times to buy (in many parts of San Diego) considering the combination of price, interest rates, and rental trends for something to hold long-term. The potential downside risk is conderably less than any other time in the past 15 years, in my opinion.[/quote]

While I am generally in agreement, it is somewhat disquieting for me to hear that Doug Kass has turned bearish http://www.cnbc.com/id/42978467%5B/quote%5D

What I find interesting is that he’s only expecting another 5%-10% decline in housing and yet he thinks that this will have a big impact on the stock market. Housing prices have already fallen by ~10% in this recent double-dip and yet the stock market has roared ahead (much to my amazement, I might add). So, while I agree that a 5%-10% further decline in housing prices may well be in the cards… I’m not sure that it follows that the stock market will follow downward… although it would be nice to think so.

[davelj]

[quote=outtamojo][quote=FormerSanDiegan]Right now, late Spring 2011 could be among the best times to buy (in many parts of San Diego) considering the combination of price, interest rates, and rental trends for something to hold long-term. The potential downside risk is conderably less than any other time in the past 15 years, in my opinion.[/quote]

While I am generally in agreement, it is somewhat disquieting for me to hear that Doug Kass has turned bearish http://www.cnbc.com/id/42978467%5B/quote%5D

What I find interesting is that he’s only expecting another 5%-10% decline in housing and yet he thinks that this will have a big impact on the stock market. Housing prices have already fallen by ~10% in this recent double-dip and yet the stock market has roared ahead (much to my amazement, I might add). So, while I agree that a 5%-10% further decline in housing prices may well be in the cards… I’m not sure that it follows that the stock market will follow downward… although it would be nice to think so.

[davelj]

[quote=outtamojo][quote=FormerSanDiegan]Right now, late Spring 2011 could be among the best times to buy (in many parts of San Diego) considering the combination of price, interest rates, and rental trends for something to hold long-term. The potential downside risk is conderably less than any other time in the past 15 years, in my opinion.[/quote]

While I am generally in agreement, it is somewhat disquieting for me to hear that Doug Kass has turned bearish http://www.cnbc.com/id/42978467%5B/quote%5D

What I find interesting is that he’s only expecting another 5%-10% decline in housing and yet he thinks that this will have a big impact on the stock market. Housing prices have already fallen by ~10% in this recent double-dip and yet the stock market has roared ahead (much to my amazement, I might add). So, while I agree that a 5%-10% further decline in housing prices may well be in the cards… I’m not sure that it follows that the stock market will follow downward… although it would be nice to think so.

[davelj]

[quote=outtamojo][quote=FormerSanDiegan]Right now, late Spring 2011 could be among the best times to buy (in many parts of San Diego) considering the combination of price, interest rates, and rental trends for something to hold long-term. The potential downside risk is conderably less than any other time in the past 15 years, in my opinion.[/quote]

While I am generally in agreement, it is somewhat disquieting for me to hear that Doug Kass has turned bearish http://www.cnbc.com/id/42978467%5B/quote%5D

What I find interesting is that he’s only expecting another 5%-10% decline in housing and yet he thinks that this will have a big impact on the stock market. Housing prices have already fallen by ~10% in this recent double-dip and yet the stock market has roared ahead (much to my amazement, I might add). So, while I agree that a 5%-10% further decline in housing prices may well be in the cards… I’m not sure that it follows that the stock market will follow downward… although it would be nice to think so.

[davelj]

[quote=outtamojo][quote=FormerSanDiegan]Right now, late Spring 2011 could be among the best times to buy (in many parts of San Diego) considering the combination of price, interest rates, and rental trends for something to hold long-term. The potential downside risk is conderably less than any other time in the past 15 years, in my opinion.[/quote]

While I am generally in agreement, it is somewhat disquieting for me to hear that Doug Kass has turned bearish http://www.cnbc.com/id/42978467%5B/quote%5D

What I find interesting is that he’s only expecting another 5%-10% decline in housing and yet he thinks that this will have a big impact on the stock market. Housing prices have already fallen by ~10% in this recent double-dip and yet the stock market has roared ahead (much to my amazement, I might add). So, while I agree that a 5%-10% further decline in housing prices may well be in the cards… I’m not sure that it follows that the stock market will follow downward… although it would be nice to think so.

[davelj]

[quote=briansd1]

Although he wants to, my friend will not leave his wife because he’s afraid of the consequences of asset separation.
[/quote]

Yes, lots of folks in this situation. (Then add in kids and make the situation more combustible.) Many of them live “don’t ask, don’t tell” lives – that is, together they have had zero sex life for many years but they don’t talk about it and pretend that it isn’t an issue… while one or both of them has something going on very discreetly on the side. It’s just not discussed. I don’t think in most cases either spouse really cares what the other one is doing – they just don’t want to know about it. They get along just fine otherwise, so why rock the boat?

[davelj]

[quote=briansd1]

Although he wants to, my friend will not leave his wife because he’s afraid of the consequences of asset separation.
[/quote]

Yes, lots of folks in this situation. (Then add in kids and make the situation more combustible.) Many of them live “don’t ask, don’t tell” lives – that is, together they have had zero sex life for many years but they don’t talk about it and pretend that it isn’t an issue… while one or both of them has something going on very discreetly on the side. It’s just not discussed. I don’t think in most cases either spouse really cares what the other one is doing – they just don’t want to know about it. They get along just fine otherwise, so why rock the boat?

[davelj]

[quote=briansd1]

Although he wants to, my friend will not leave his wife because he’s afraid of the consequences of asset separation.
[/quote]

Yes, lots of folks in this situation. (Then add in kids and make the situation more combustible.) Many of them live “don’t ask, don’t tell” lives – that is, together they have had zero sex life for many years but they don’t talk about it and pretend that it isn’t an issue… while one or both of them has something going on very discreetly on the side. It’s just not discussed. I don’t think in most cases either spouse really cares what the other one is doing – they just don’t want to know about it. They get along just fine otherwise, so why rock the boat?

[davelj]

[quote=briansd1]

Although he wants to, my friend will not leave his wife because he’s afraid of the consequences of asset separation.
[/quote]

Yes, lots of folks in this situation. (Then add in kids and make the situation more combustible.) Many of them live “don’t ask, don’t tell” lives – that is, together they have had zero sex life for many years but they don’t talk about it and pretend that it isn’t an issue… while one or both of them has something going on very discreetly on the side. It’s just not discussed. I don’t think in most cases either spouse really cares what the other one is doing – they just don’t want to know about it. They get along just fine otherwise, so why rock the boat?

[davelj]

[quote=briansd1]

Although he wants to, my friend will not leave his wife because he’s afraid of the consequences of asset separation.
[/quote]

Yes, lots of folks in this situation. (Then add in kids and make the situation more combustible.) Many of them live “don’t ask, don’t tell” lives – that is, together they have had zero sex life for many years but they don’t talk about it and pretend that it isn’t an issue… while one or both of them has something going on very discreetly on the side. It’s just not discussed. I don’t think in most cases either spouse really cares what the other one is doing – they just don’t want to know about it. They get along just fine otherwise, so why rock the boat?

[davelj]

It’s a real mixed bag down there, but most of the bag is not so good. As pointed out above, there are lots of half-completed and half-occupied complexes. But there are also plenty of fully-occupied projects as well, but you do have to be very careful.

Generally, prices have come down about 40%-50% in most places. But there haven’t been many actual foreclosures because most folks put down at least 30% when they bought – because that’s what was required when getting financed down there – and there were a lot of all-cash buyers. The typical buyer took out a $100K line against their house in California or Arizona and used it for a down payment on a $275K condo… and then defaulted on the line against the house but hung onto the condo.

Part of the problem, of course, with knowing exactly what’s going on down in Baja is that there’s no official MLS and the public records aren’t digitalized or readily available. Also, it’s very complicated to foreclose on a home in Mexico. So, it’s not easy to know exactly what’s going on down there.

My advice – worth exactly what you’re paying for it – is only buy if (1) you plan on owning it for at least 15 years, and (2) you’re in a mostly full complex (for HOA reasons). I don’t see much price appreciation down there for many years – Baja got way way overbuilt.

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