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ParticipantThe top ten ways to know that the bottom is here:
(Drum roll please)
10. No sellers are offering “free” plasma TV’s — just lower prices.
9. Buyers with bad credit are called renters.
8. RE professionals act professionally.
7. Time magazine’s headline “Housing will never recover”.
6. Your waitress and your barber no longer brag about how they made a fortune in real estate.
5. People buy houses to actually live in them.
4. US Attorney convicts Angelo Mozilo.
3. Democrats establish a commission to “cure” the housing problem. Republicans issue a press release stating that there may be a housing bubble. Libertarians are busy building bomb shelters.
2. No more bombastic ads for get rich quick real estate seminars.
And, the number one way to know that the bottom is here: all the Piggs have bought their dream houses!
ParticipantThe top ten ways to know that the bottom is here:
(Drum roll please)
10. No sellers are offering “free” plasma TV’s — just lower prices.
9. Buyers with bad credit are called renters.
8. RE professionals act professionally.
7. Time magazine’s headline “Housing will never recover”.
6. Your waitress and your barber no longer brag about how they made a fortune in real estate.
5. People buy houses to actually live in them.
4. US Attorney convicts Angelo Mozilo.
3. Democrats establish a commission to “cure” the housing problem. Republicans issue a press release stating that there may be a housing bubble. Libertarians are busy building bomb shelters.
2. No more bombastic ads for get rich quick real estate seminars.
And, the number one way to know that the bottom is here: all the Piggs have bought their dream houses!
ParticipantThe top ten ways to know that the bottom is here:
(Drum roll please)
10. No sellers are offering “free” plasma TV’s — just lower prices.
9. Buyers with bad credit are called renters.
8. RE professionals act professionally.
7. Time magazine’s headline “Housing will never recover”.
6. Your waitress and your barber no longer brag about how they made a fortune in real estate.
5. People buy houses to actually live in them.
4. US Attorney convicts Angelo Mozilo.
3. Democrats establish a commission to “cure” the housing problem. Republicans issue a press release stating that there may be a housing bubble. Libertarians are busy building bomb shelters.
2. No more bombastic ads for get rich quick real estate seminars.
And, the number one way to know that the bottom is here: all the Piggs have bought their dream houses!
ParticipantThe top ten ways to know that the bottom is here:
(Drum roll please)
10. No sellers are offering “free” plasma TV’s — just lower prices.
9. Buyers with bad credit are called renters.
8. RE professionals act professionally.
7. Time magazine’s headline “Housing will never recover”.
6. Your waitress and your barber no longer brag about how they made a fortune in real estate.
5. People buy houses to actually live in them.
4. US Attorney convicts Angelo Mozilo.
3. Democrats establish a commission to “cure” the housing problem. Republicans issue a press release stating that there may be a housing bubble. Libertarians are busy building bomb shelters.
2. No more bombastic ads for get rich quick real estate seminars.
And, the number one way to know that the bottom is here: all the Piggs have bought their dream houses!
ParticipantIt’s difficult to know what motivates a foreign buyer. I’m not remotely involved in the real estate biz, so perhaps someone with first-hand knowledge can comment.
My guess is that wealthy foreign buyers want to buy where their wealth or their wealthy business takes them. That is unlikely to be San Diego.
Follow the link to a listing of Fortune 500 (actually 1000 are listed in this compendium):
http://money.cnn.com/magazines/fortune/fortune500/2007/states/CA.html
San Diego has a grand total of 3 companies in the 500, one of which is Sempra — and that can hardly be called anything but a large local company. That puts San Diego in the esteemed company of El Segundo — also with three. But San Diego has beat out Boise, with only two.
The list is bulging with neighborhoods in LA and the Bay Area. So if San Diego sellers are holding out for the wealthy foreign money, good luck to them. The buyers will go to LA and the Bay Area because money follows money.
Perhaps sellers are waiting for the wealthy Pacific Rim foreign money to buy in San Diego to retire in comfort and beauty. In my inexpert opinion, guess again. Think of all the truly beautiful cities spread around Australia and the South Pacific and tell me if you would decide to buy in the remote overpriced San Diego market. If you wouldn’t, why do you think they would?
As an addendum I do want to thank all the Piggs whom I’ve been reading for the past two years. I thought I was crazy when the market reached crazy pricing. It turns out that you (we) were sane and the world was insane. So thank you all for bringing sanity to real estate analysis.
ParticipantIt’s difficult to know what motivates a foreign buyer. I’m not remotely involved in the real estate biz, so perhaps someone with first-hand knowledge can comment.
My guess is that wealthy foreign buyers want to buy where their wealth or their wealthy business takes them. That is unlikely to be San Diego.
Follow the link to a listing of Fortune 500 (actually 1000 are listed in this compendium):
http://money.cnn.com/magazines/fortune/fortune500/2007/states/CA.html
San Diego has a grand total of 3 companies in the 500, one of which is Sempra — and that can hardly be called anything but a large local company. That puts San Diego in the esteemed company of El Segundo — also with three. But San Diego has beat out Boise, with only two.
The list is bulging with neighborhoods in LA and the Bay Area. So if San Diego sellers are holding out for the wealthy foreign money, good luck to them. The buyers will go to LA and the Bay Area because money follows money.
Perhaps sellers are waiting for the wealthy Pacific Rim foreign money to buy in San Diego to retire in comfort and beauty. In my inexpert opinion, guess again. Think of all the truly beautiful cities spread around Australia and the South Pacific and tell me if you would decide to buy in the remote overpriced San Diego market. If you wouldn’t, why do you think they would?
As an addendum I do want to thank all the Piggs whom I’ve been reading for the past two years. I thought I was crazy when the market reached crazy pricing. It turns out that you (we) were sane and the world was insane. So thank you all for bringing sanity to real estate analysis.
ParticipantIt’s difficult to know what motivates a foreign buyer. I’m not remotely involved in the real estate biz, so perhaps someone with first-hand knowledge can comment.
My guess is that wealthy foreign buyers want to buy where their wealth or their wealthy business takes them. That is unlikely to be San Diego.
Follow the link to a listing of Fortune 500 (actually 1000 are listed in this compendium):
http://money.cnn.com/magazines/fortune/fortune500/2007/states/CA.html
San Diego has a grand total of 3 companies in the 500, one of which is Sempra — and that can hardly be called anything but a large local company. That puts San Diego in the esteemed company of El Segundo — also with three. But San Diego has beat out Boise, with only two.
The list is bulging with neighborhoods in LA and the Bay Area. So if San Diego sellers are holding out for the wealthy foreign money, good luck to them. The buyers will go to LA and the Bay Area because money follows money.
Perhaps sellers are waiting for the wealthy Pacific Rim foreign money to buy in San Diego to retire in comfort and beauty. In my inexpert opinion, guess again. Think of all the truly beautiful cities spread around Australia and the South Pacific and tell me if you would decide to buy in the remote overpriced San Diego market. If you wouldn’t, why do you think they would?
As an addendum I do want to thank all the Piggs whom I’ve been reading for the past two years. I thought I was crazy when the market reached crazy pricing. It turns out that you (we) were sane and the world was insane. So thank you all for bringing sanity to real estate analysis.
ParticipantIt’s difficult to know what motivates a foreign buyer. I’m not remotely involved in the real estate biz, so perhaps someone with first-hand knowledge can comment.
My guess is that wealthy foreign buyers want to buy where their wealth or their wealthy business takes them. That is unlikely to be San Diego.
Follow the link to a listing of Fortune 500 (actually 1000 are listed in this compendium):
http://money.cnn.com/magazines/fortune/fortune500/2007/states/CA.html
San Diego has a grand total of 3 companies in the 500, one of which is Sempra — and that can hardly be called anything but a large local company. That puts San Diego in the esteemed company of El Segundo — also with three. But San Diego has beat out Boise, with only two.
The list is bulging with neighborhoods in LA and the Bay Area. So if San Diego sellers are holding out for the wealthy foreign money, good luck to them. The buyers will go to LA and the Bay Area because money follows money.
Perhaps sellers are waiting for the wealthy Pacific Rim foreign money to buy in San Diego to retire in comfort and beauty. In my inexpert opinion, guess again. Think of all the truly beautiful cities spread around Australia and the South Pacific and tell me if you would decide to buy in the remote overpriced San Diego market. If you wouldn’t, why do you think they would?
As an addendum I do want to thank all the Piggs whom I’ve been reading for the past two years. I thought I was crazy when the market reached crazy pricing. It turns out that you (we) were sane and the world was insane. So thank you all for bringing sanity to real estate analysis.
ParticipantIt’s difficult to know what motivates a foreign buyer. I’m not remotely involved in the real estate biz, so perhaps someone with first-hand knowledge can comment.
My guess is that wealthy foreign buyers want to buy where their wealth or their wealthy business takes them. That is unlikely to be San Diego.
Follow the link to a listing of Fortune 500 (actually 1000 are listed in this compendium):
http://money.cnn.com/magazines/fortune/fortune500/2007/states/CA.html
San Diego has a grand total of 3 companies in the 500, one of which is Sempra — and that can hardly be called anything but a large local company. That puts San Diego in the esteemed company of El Segundo — also with three. But San Diego has beat out Boise, with only two.
The list is bulging with neighborhoods in LA and the Bay Area. So if San Diego sellers are holding out for the wealthy foreign money, good luck to them. The buyers will go to LA and the Bay Area because money follows money.
Perhaps sellers are waiting for the wealthy Pacific Rim foreign money to buy in San Diego to retire in comfort and beauty. In my inexpert opinion, guess again. Think of all the truly beautiful cities spread around Australia and the South Pacific and tell me if you would decide to buy in the remote overpriced San Diego market. If you wouldn’t, why do you think they would?
As an addendum I do want to thank all the Piggs whom I’ve been reading for the past two years. I thought I was crazy when the market reached crazy pricing. It turns out that you (we) were sane and the world was insane. So thank you all for bringing sanity to real estate analysis.
ParticipantSorry, a little off topic: Geology or real estate?
To privatebanker:
The Hawaiian islands are volcanic seamounts, but they may face sudden catastrophic destruction. I’m no expert in geology, but I did stay in a Holiday Inn Express last night. Recent studies have shown that the islands have regularly undergone sudden massive landslides. By “massive” I mean a side of a volcano breaking free and sliding into the Pacific. Or so says the Discovery Channel.
In the (geologic) past, these slides of mythic proportion have resulted in tsunami of similar mythic size (1000 feet plus).
So be the first to buy oceanfront property in Arizona!
ParticipantSorry, a little off topic: Geology or real estate?
To privatebanker:
The Hawaiian islands are volcanic seamounts, but they may face sudden catastrophic destruction. I’m no expert in geology, but I did stay in a Holiday Inn Express last night. Recent studies have shown that the islands have regularly undergone sudden massive landslides. By “massive” I mean a side of a volcano breaking free and sliding into the Pacific. Or so says the Discovery Channel.
In the (geologic) past, these slides of mythic proportion have resulted in tsunami of similar mythic size (1000 feet plus).
So be the first to buy oceanfront property in Arizona!
ParticipantSorry, a little off topic: Geology or real estate?
To privatebanker:
The Hawaiian islands are volcanic seamounts, but they may face sudden catastrophic destruction. I’m no expert in geology, but I did stay in a Holiday Inn Express last night. Recent studies have shown that the islands have regularly undergone sudden massive landslides. By “massive” I mean a side of a volcano breaking free and sliding into the Pacific. Or so says the Discovery Channel.
In the (geologic) past, these slides of mythic proportion have resulted in tsunami of similar mythic size (1000 feet plus).
So be the first to buy oceanfront property in Arizona!
ParticipantSorry, a little off topic: Geology or real estate?
To privatebanker:
The Hawaiian islands are volcanic seamounts, but they may face sudden catastrophic destruction. I’m no expert in geology, but I did stay in a Holiday Inn Express last night. Recent studies have shown that the islands have regularly undergone sudden massive landslides. By “massive” I mean a side of a volcano breaking free and sliding into the Pacific. Or so says the Discovery Channel.
In the (geologic) past, these slides of mythic proportion have resulted in tsunami of similar mythic size (1000 feet plus).
So be the first to buy oceanfront property in Arizona!
ParticipantSorry, a little off topic: Geology or real estate?
To privatebanker:
The Hawaiian islands are volcanic seamounts, but they may face sudden catastrophic destruction. I’m no expert in geology, but I did stay in a Holiday Inn Express last night. Recent studies have shown that the islands have regularly undergone sudden massive landslides. By “massive” I mean a side of a volcano breaking free and sliding into the Pacific. Or so says the Discovery Channel.
In the (geologic) past, these slides of mythic proportion have resulted in tsunami of similar mythic size (1000 feet plus).
So be the first to buy oceanfront property in Arizona!
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