[desmond]

“and people moving into the state rent U-Hauls”

Along with backpacks and gallon water jugs.

[desmond]

“The crash and post-crash world will not be pretty. Millions of people will lose their jobs and their homes. Unfortunately, the economists who led us down this path are not likely to be among the ones who suffer severe consequences”

I could see how an Economist might miss this crash working with the overall picture and not in the day to day trenches, etc. But how do CEO’s of homebuilders, NAR Executives, etc. with all the sales figures, cancellation and inventory numbers, miss? Very interesting to see if certain execs were in “Lay Speek” and dumping shares or selling properties and still talking a good game.

[desmond]

On my street 14 out of 16 homes are rentals. This is a new KB (Kracker Box) Development. Each owner tried to sell, could not and now they rent them. When you introduce yourself to each new neighbor and you findout they are renting and not owning, a big smile on each others face, no kidding.

[desmond]

Just ask my wife!

[desmond]

Thanks for all the help, I called a Therapist and made an appoinment, enough about me.

[desmond]

Money not a problem, we cleared over 500k on the old house. She seems to resent that I did something right and have a new, and better, attitude on life. This board really helps me, very few places where people can express thoughts and not get reemed if something is said(or spelled) incorrectly. Thanks again

[desmond]

The only problem is the base on which future increases are calculated is not permanent adjusted down. By law, assessments can increase 2% per year compounded annually.

When housing prices fall you can have your property re-assessed downward. But if property values rise back to or above your original assessment, the assessor can raise the value all the way back to original amount regardless of the 2% law. This was being challenge in court by a homeowner but I never did hear what the outcome was.

[desmond]

It is Yuma, No.

[desmond]

If the average homeowner has trouble with the RE market today what excuse will the State (CA) Government use? The State receives tax revenue on transactions (sales) and look at what has happened in CA with sales down 26% in June. I read an article that overall employment in CA was up recently. There were job loses in construction and finance (Mortgage, RE. etc) but that was “offset” with jobs created in Travel (lower paying jobs with less tax revenue). It looks to me at the end of the year the state is going to be deeper in the red and won’t know why.

[desmond]

There may be 10k minimums at brokerages, but if you buy directly from the government, the minimum is $1,000.00

[desmond]

PS

You are getting mixed up betweent T-Bills and Bonds. T-Bills can be bought for as short as a 7 day maturity. Or you can buy 30-60-90-180-360 day T-Bills. Bonds are usually longer maturity dates. Please go to treasurydirect.gov,for a government site it is excellent,and it will answer all you questions and turn you into a auction pro. Once you figure it out and open an account, I suggest you buy a 7 day T-Bill for a $1,000.00 to get your feet wet, once you figure it out you will never go back.

[desmond]

How is a T-Bill “safer” then a FDIC CD? Both are backed by the US Government. T-Bills are actually dropping a little and CD’s are going up. Schwab is a excellent place for both. You can buy T-Bills at Scwhab (no commission) just as you would from treasurydirect.gov.

[desmond]

PS

Now don’t get to huffy, but

I had no idea that a La Jolla address carries such a price premium. Wow! You can get a beautiful Carmel Valley home for that price.

That is like saying you can get a much cheaper place in Van Nuys vs. Beverly Hills!

I was born in Escondido and new the “Premium” when I was 5 years old.

[desmond]

Check last Sunday’s LA Times it had an article on the city of Wilmington,CA., the city next to the largest port in the US. 7 million cargo containers come in full from overseas (China)per year, only 2 million go out. They had pictures of the 200,000 large steel containers stacked all over the city piled 40 feet high and infested with rats. It is so bad that the city can’t even findout who owns them. I believe this is the root cause of the bubble.

[desmond]

When are the RE companies goint to start charging to list homes, with 22k homes on the market just hanging a sign must be expensive. That is the business to be in, RE signs, a growth market.

[Author]

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