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With no political implications intended, IMO, the sad thing is that all young people are going to be burdened with our nation’s debt and other issues by varying degrees, and even those from wealthy families may find their dreams unattainable.

Using my kid’s friends in their 20’s and early 30’s as a barometer, we’re currently seeing about a 50/50 success rate (i.e.–getting their dream job, buying a home, etc.) playing out in their lives. At this point it time it’s difficult to know if things will get better or worse for them in the future, but, again, IMO, a life of unfulfilled dreams isn’t much of a life–regardless of your financial situation.

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[quote=flu][quote=SK in CV][quote=flu][quote=spdrun]Taken in context of earnings, it’s terrible.[/quote]

Bubble stocks don’t trade on fundamentals you know… It trades on hype..

Just saying….[/quote]

I think you’re both wrong. The stock movement was consistent with what they reported, because they reported much more than just historical earnings. And it’s no longer a “hype” stock. They’re a real operating company with operating profits. FB is priced with potential growth figured in. It may never reach those targets, but the targets are not unreasonable. As opposed to TSLA, which is trading solely based on hope right now, not computed future earnings.[/quote]

You know as well as I do that I have no idea what I’m talking about. I just enjoy wasting people’s time on this thread….

heh heh.[/quote]

I don’t think most of what’s said on this site is a waste of time. I enjoy reading everyone’s posts–even yours, flu:)

To me, it’s interesting to know what others are doing and thinking. I still have time to fly, work on real estate and movie deals, keep the family happy, etc., etc.–so keep those posts coming!

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[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.
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Why? What’s so different now than say, 2 years ago?[/quote]

I would agree, not much, really, as I’ve actually mentioned what I said above for a few years, and was simply agreeing with flu.

As a native who was raised in LJ, it’s been fascinating to watch and to be involved in the evolution of real estate in San Diego, and I’m quite sure the future will be just as interesting as the past.

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[quote=SK in CV][quote=The-Shoveler]
Yea I would have to agree with this part, without QCOM and all the tag along wireless industry in that area CV would not have been anything like it is today.

It would still be an expensive area IMO but just not a ridiculously expensive one. 3000+sqf homes on 4000sfq lots etc… going for 1M+ (without Ocean views) and Condos going for 600-800K (without ocean views).
I must admit that to me seems ridiculously expensive.[/quote]

I doubt that’s true. I lived there for almost 10 years. I met scores, maybe a couple hundred people. Never met anyone who worked at QCOM. I’m sure there are many. But not enough to have any significant effect on prices.[/quote]

Whatever the reason, owning property in CV has been a very interesting experience.

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We started investing in CV properties from the late 80’s on, and would never have believed prices would escalate as they have over the years. I don’t think it would have ever happened without QC.

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.

It’s been a very interesting ride, and it will be even more interesting to see how things go over the next many years.

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I agree that, regardless of the fact that SV (92121) may have a different zip code from other parts of MM, and does seem to have some very nice appreciation, per sdlookup.com, residents are still living the MM lifestyle for all intensive purposes–schools, shopping, etc., etc.–so I don’t get the point of this entire uproar.

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Back the pioneer days :), the early settlers in CV used to tell everyone they lived just east of Del Mar.

In fact, East Del Mar was one of the names in the hat when North City West was renamed Carmel Valley.

Developers tag onto the “close to/hills above RSF” all the time, and it doesn’t bother me.

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When I saw this story on the news, I honestly couldn’t believe it.

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[quote=spdrun]What’s wrong with being a “cougar?” (Woman who dates younger men.) As a early-30s guy, I actually prefer the company of women in their late 30s to mid 40s to my age or younger. Generally smarter, more together, and less goddamned boring than little ditzes in their 20s.

The more cougars, the better in my book.[/quote]

I can understand that, sp, and I’m sure there are many to choose from in a sophisticated city like NY.

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Interesting thread. Showed it to my wife.

She jokingly mentioned that, should we ever go our separate ways, her trust fund will save her from ever having to resort to becoming a Gold Digger or a Cougar–but you do see a lot of that in
SOCAL–even their male counterparts. Many people will do just about anything to stay in CA.

On the restaurant front–very glad to see Snooze open. We really enjoyed Le Peep (a similar restaurant that closed) when it was in Del Mar Highlands many years ago.

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[quote=FlyerInHi]There is no unraveling of America.

I hope you’re right, but, IMO, only time will tell. Personally, life for my family and me just seems to get better and better, and, although I would hope that would hold true for everyone, I’m aware that is not the reality.

It will be interesting to see how things evolve in the coming years.

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[quote=joec]I agree with a lot of these points. However, one point that needs to be said is that a lot of people actually want to work, but the problem is that the pay/work, etc is simply very very poor. I was watching bloomberg today and the wage gap between rich and poor is the highest it’s ever been in the history of the US. Among the industrialized nations, the US has the widest gap, even though it is common across all countries and growing as well.

The richest 1% control like over 50% of all wealth and I think it said the top 10% control like 80%+ maybe more…forget the exact %.

All that said, unless you work in hi-tech or have an awesome job, like flu says, I think it’s simply incredibly hard to actually make it big…even if your parents did very well. The youth has huge unemployment and unless you code and work in SV, most paying jobs are pretty weak.

Having worked in SV with the whole stock option thing and all that and working in different industries and now self employed, it really is different in terms of pay outside of a select few areas/professions. Most people make no where near enough to survive I think…in most normal jobs, even professional ones.

One risk is also if you get laid off or work in a field that’s slow (like someone said about architecture), you’re going to have a very very hard time finding something half decent. Maybe it’s just been my experience having been laid off, been on unemployment, etc…but unless you’ve been there, I can see why some people like some of these entitlement programs.

The main problem it’s very hard to get out. Also, woe to the engineer now who is making good money, then gets laid off with a mortgage, kids, wife, etc…

Even with savings, family might not be doing that well to help out.

It sounds radical, and I think not anytime soon, but there eventually will be more riots and more revolutionary type stuff since more and more people will be in poverty and quite upset about it.

We’ll end up like Europe with higher unemployment long term and with entitlements similar to become a ‘socialist’ country.

I believe the “best days” of the US are behind it for most Americans…sadly.[/quote]

+1 joe. It IS sad that many young people will never have the opportunity to enjoy the fantastic lives many of us who are a bit older have had. Doesn’t really matter who is to blame, the net result will still be the same.

Don’t know if I’ll see the complete unraveling of America in my lifetime. I hope not.

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Agree with these viewpoints.

The sad thing is that, IMO, even those in future generations with the family background, education, etc., etc., will still struggle to live the lives of their dreams, so don’t be deluded into thinking these trends will only affect “the masses.”

We’re already seeing evidence of this in increasing numbers with some of our kids friends, all of whom were raised in RSF. So far, our kids, who are in their late 20’s, are doing well after college, but I would say, rough estimate, over 50% of their friends are not. By well, I mean the ability to achieve your dreams/goals in life.

What’s really unbelievable, is when you ask their parents what the kids are planning to do after college, many of them just try to avoid the subject–since they probably have no idea. Sad.
A sign of things to come? Only time will tell.

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Great. It’s over for now, except for the fact that we have to continue to listen to all of them defend their various brilliant positions. Mute button on.

The future of the US should be very interesting to watch over the next decade or so. In the meantime, make your millions while you can.

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[quote=SK in CV][quote=flyer][quote=spdrun]Other than housing costs (and if you have a paid-off home by the point of retirement, you have that problem basically licked) what makes San Diego particularly expensive? OK, gasoline is about 25% more expensive than in the rest of the country, but you’re not paying for energy in other ways, since HVAC costs are minimal.

Food and other goods didn’t strike me as being horribly expensive in SD. Yeah, you have state income tax and sales tax, but it’s not huge in the grand scheme of things.[/quote]

Agree, sp. The “too expensive to live there in retirement” comment is just what we’ve heard from some people we’ve known who have left the state. Of course, we’ve heard that from younger people also–friends of our kids–who couldn’t find high paying jobs or afford to buy a home here after college.[/quote]

Here’s a real life example of how someone who has been pretty financially responsible might want to move. One of my closest friends is early 60’s and is pretty much retired. He has a home he bought many years ago that’s free and clear and is worth $1.3 million. He has about $1.6 million in financial assets. Enough to live comfortably along with his social security. I just showed him a home in Phoenix, a few blocks from where my brother lives that is pretty much the same as the home he has in SD. It’s in a comparable area and is for sale for $350K. He could essentially increase his financial assets by 50% by moving. He could stay where he is, but he could move and substantially increase his financial security.[/quote]

Completely understand, SK. We have property in AZ, and know that we could increase our net worth substantially by living there, but since we can easily afford CA–and continue to do everything we want to do throughout retirement–it’s just our preference to stay here. I think that might be true for many who choose CA over other areas.

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