[equalizer]

PS

I would like to discuss something offline. Could you send email to moremail(at)san.rr.com with subject line of veda. Thanks

[equalizer]

sdrealtor

at times you sound like some guys on the radio who have this special wisdom that they yack on for a hour, but dont tell you anything without attending their seminar, etc. Could you please be more specific starting here? Like telling us what fields are high paying? Thanks

[equalizer]

PS
Well it does appear that the posters that alluded to your having a sense of loss over your house couldnt have imagined how “special” your house was. But if you sleep better at night then you definitely made the right choice. here’s hoping that your next purchase is just as special.

[equalizer]

If Prop 13 limited tax increases, then wouldnt the state go broke, or were the added taxed not needed. If they werent needed, then why not change the tax rate instead of playing favorites with people. So if the tax rate were 1.1% and housing prices went up 20%, then next year the rate would drop to 1% for all. There was inflation outside of housing and thus state costs were higher. I’m just rambling here so I’m sure I’m missed something huge.
If prop taxes were the reason seniors lost their houses, then why did Prop 13 apply to rental as well. Could it be that politicos had rental property or were bribed by CAR? NOooooh way.

[equalizer]

Daniel

Good points. Just want to clarify with personal experience that so called highly skilled immigrants are not always experts. Known people who have worked with these H1Bs and for the most part are hard working but have just basic knowledge, not enough to work on their own. How could they have that experience from India, etc?? If Software companies, intel really wanted hire people coulnt they sponsor a few classe here at UCSD and SDSU to get more EE,CE and CS majors ready? The labor dept reqts to advertise for local people before hiring H1B is a major sham.

In this weeks Barrons has a big story about China and a discussion of the complete disregard of environmetal rules there. Before we lust after their GDP growth we should be aware of the costs. Business people decry enviro rules in CA, but have they ever been to China, India and seen real pollution? A colleague just got back from Beijing, so I will see if I can get the lowdown and will post any interesting stories.

On a side note, be very wary of Asians, middle easterners who were not raised in US. Generally (NOT ALL) they dont have morals, ethics and will rip you off. Its not their fault, they grow up with that attitude and dont automatically change when they come here. Ok, lets hear it, I’m a bigot.
Oh Yeah, I keep forgettin yo mo be there, no that I was born in INDIA.

[equalizer]

sdrealtor

Just because you are ethical, doesnt mean everyone else is. Perry is just relating stories we hear from co-workers, etc. For example, one co-worker said he couldn’t buy a condo in downtown because they didnt want investors, but he mentioned another co-worker who did buy condo with “shady” intentions. He’s not the only one in town doing this.

[equalizer]

I had a “converation” with someone a few weeks ago about this topic. I asked him how many employees they had 10 years ago and how many they have today. BTW it thousands less. It was like talking to a wall. But, but they are hiring. Yeah, if you can redesign a chip on the first day on the job, youre hired. Good luck everyone on that job interview, if you get one.

[equalizer]

Everyone wants to live in Carmel Valley. I met someone about a month ago at a party who just quit his job at Nissan in Gardena. He moved to California a few years back and he knew he wanted to live in CV. So he bought a house there and was commuting daily to Gardena daily, 4 hours a day. He may have been commuting for a year! He quit and found a job much closer in … Orange county.

He said that less than half of employees were moving to Tennessee. It was a bold, but not a super bold move since the 7-8 cars have already been redesigned and will hit showrooms in next year.

[equalizer]

Excuse the crass video, but the downturn is all Rich’s fault.

http://www.youtube.com/watch?v=u4Rto1Pf42A

[equalizer]

When the next meetup? Last one to show up buys the pitcher.
Lets meet before we have aonther choice, like TheSDrealtor.

[equalizer]

I’m skeptical as well. It seemed that the higher end homes were skyrocketing in dollar terms, meaning that everything was going up say 50%. The 800K home would go to 1.2M, whereas the 500K went up to 750K. I was looking at Santaluz (OK, just for 5 seconds!) in 2002 and noticed that homes were 2500SF singe story I believe and were going for upper 700, low 800 with a model sold for 924K. I gasped at the 924K, felt a sudden sharp pain as if I had just lost my life savings and 401K. Maybe bugs or sdrealtor can check on the Santaluz properties now. I think they are in the 1.2M range.

[equalizer]

correct me if I’m wrong but buyer has NO right to inspect any of the realtors pay package or MLS data. You are at their mercy.

[equalizer]

Thanks Bugs

Salary increases tend to be parabolic when finishing college/adv degree and after 5-10 years plateau out with much smaller gains.

In my neighboorhood it seems that most people have 5 year adjustable at 4.5% and will reset in 2.5 years. I asked one neighbor if they are planning to move and they said no, we just wanted lower payments and they’ll just refinance! I think they can easily afford the new payments unless they have a loan that jumps up to 5% on first reset. Of course they can just take out a new 5 year adjustable. So most people will not lose their homes, but will end up taking 35+ years to pay off mortgage. In last 5 years nobody except us seem to give a hoot about paying off mortage. You should not have a mortgage after retirement. That is the scary issue.

[equalizer]

Sduuude

You said

‘In another thread you asked (paraphrased) “What does it take to get buyers excited about the market again?” and I said “lower prices.” When the SFR median is 25% down, that means some neighborhoods and condos will probaby be down 40 or 50% and people will start buying again. ‘

Where do you get that 25% number from? I gave a number and likely PS gave a number that is a possible target, not 100% chance of happening. Agree with you that market emotion will dictatce the change and amount. I am just looking at possible down targets and historical charts that are RELEVANT. Examine the S&P 500 P/E ratios and recognize that P/E of 30 in late 99 was outrageous. Those who ignored that data (like yours truly, caught up in the mania trying to chase house prices; even after Bob Brinker pleaded with everyone to dump all stocks for GNMAs) were doomed.

The number of people who sold and sitting on cash are probably not that many. There are of course investors who raked in million plus and sold everything except main house. These people will keep limit on down side on good properties with low maintenance issues.

[equalizer]

Rydex and Profunds that are leveraged 2 to 1 are horrible investments. If S&P 500 returns 6% after inflation over 30 years, then shouldnt these funds return 12%? NOOO!
Because on down days they lose twice as much and it takes a lot to overcome that loss. So you might end up less than 6, esp with HIGH exp ration.

[Author]

Posts