[gn]

People living beyond their means doesn't stop at MM price range. They're everywhere.

You are right. Pretenders are everywhere.

Now, during the boom times, because prices were so high, there were tremendous incentives to create housing supply to cash in on the high prices. Supplies were added in downtown SD, 4S, Carmel Valley, Temecula …

Since all of  San Diego county & southern Riverside county iis effectively in the "same market", supply added to downtown affect prices in Mira Mesa.

For example, the condo glut in downtown will have a negative effect on condo prices in Mira Mesa. Asianautica, you have been on Piggington long enough to read many of Bugs's postings. And he's the first one to tell you that "it's all connected".

There is a surplus of housing in the SD market. And the fact that Mira Mesa is in the "middle" (in term of prices range) does not insulate Mira Mesa from the downturn. The surplus will eventually affect all market segments.

[gn]

People living beyond their means doesn't stop at MM price range. They're everywhere.

You are right. Pretenders are everywhere.

Now, during the boom times, because prices were so high, there were tremendous incentives to create housing supply to cash in on the high prices. Supplies were added in downtown SD, 4S, Carmel Valley, Temecula …

Since all of  San Diego county & southern Riverside county iis effectively in the "same market", supply added to downtown affect prices in Mira Mesa.

For example, the condo glut in downtown will have a negative effect on condo prices in Mira Mesa. Asianautica, you have been on Piggington long enough to read many of Bugs's postings. And he's the first one to tell you that "it's all connected".

There is a surplus of housing in the SD market. And the fact that Mira Mesa is in the "middle" (in term of prices range) does not insulate Mira Mesa from the downturn. The surplus will eventually affect all market segments.

[gn]

People living beyond their means doesn't stop at MM price range. They're everywhere.

You are right. Pretenders are everywhere.

Now, during the boom times, because prices were so high, there were tremendous incentives to create housing supply to cash in on the high prices. Supplies were added in downtown SD, 4S, Carmel Valley, Temecula …

Since all of  San Diego county & southern Riverside county iis effectively in the "same market", supply added to downtown affect prices in Mira Mesa.

For example, the condo glut in downtown will have a negative effect on condo prices in Mira Mesa. Asianautica, you have been on Piggington long enough to read many of Bugs's postings. And he's the first one to tell you that "it's all connected".

There is a surplus of housing in the SD market. And the fact that Mira Mesa is in the "middle" (in term of prices range) does not insulate Mira Mesa from the downturn. The surplus will eventually affect all market segments.

[gn]

People living beyond their means doesn't stop at MM price range. They're everywhere.

You are right. Pretenders are everywhere.

Now, during the boom times, because prices were so high, there were tremendous incentives to create housing supply to cash in on the high prices. Supplies were added in downtown SD, 4S, Carmel Valley, Temecula …

Since all of  San Diego county & southern Riverside county iis effectively in the "same market", supply added to downtown affect prices in Mira Mesa.

For example, the condo glut in downtown will have a negative effect on condo prices in Mira Mesa. Asianautica, you have been on Piggington long enough to read many of Bugs's postings. And he's the first one to tell you that "it's all connected".

There is a surplus of housing in the SD market. And the fact that Mira Mesa is in the "middle" (in term of prices range) does not insulate Mira Mesa from the downturn. The surplus will eventually affect all market segments.

[gn]

People living beyond their means doesn't stop at MM price range. They're everywhere.

You are right. Pretenders are everywhere.

Now, during the boom times, because prices were so high, there were tremendous incentives to create housing supply to cash in on the high prices. Supplies were added in downtown SD, 4S, Carmel Valley, Temecula …

Since all of  San Diego county & southern Riverside county iis effectively in the "same market", supply added to downtown affect prices in Mira Mesa.

For example, the condo glut in downtown will have a negative effect on condo prices in Mira Mesa. Asianautica, you have been on Piggington long enough to read many of Bugs's postings. And he's the first one to tell you that "it's all connected".

There is a surplus of housing in the SD market. And the fact that Mira Mesa is in the "middle" (in term of prices range) does not insulate Mira Mesa from the downturn. The surplus will eventually affect all market segments.

[gn]

JC,

You should tell your friend this. There are 5 types of people:

1. Squatters.
2. Real renters (people who know they can’t afford to buy & act that way).
3. Renters who pretend to be homeowners (homeowners with exotic mortgages).
4. Real homeowners (homeonwers who can actually afford their house).
5. Homeowners who pretend to be renters (renters who have money to buy but are smart so they are waiting for the bubble to pop).

Then ask your friend this (while you are smiling, of course):

– Are you #3 or #4 ?

[gn]

JC,

You should tell your friend this. There are 5 types of people:

1. Squatters.
2. Real renters (people who know they can’t afford to buy & act that way).
3. Renters who pretend to be homeowners (homeowners with exotic mortgages).
4. Real homeowners (homeonwers who can actually afford their house).
5. Homeowners who pretend to be renters (renters who have money to buy but are smart so they are waiting for the bubble to pop).

Then ask your friend this (while you are smiling, of course):

– Are you #3 or #4 ?

[gn]

JC,

You should tell your friend this. There are 5 types of people:

1. Squatters.
2. Real renters (people who know they can’t afford to buy & act that way).
3. Renters who pretend to be homeowners (homeowners with exotic mortgages).
4. Real homeowners (homeonwers who can actually afford their house).
5. Homeowners who pretend to be renters (renters who have money to buy but are smart so they are waiting for the bubble to pop).

Then ask your friend this (while you are smiling, of course):

– Are you #3 or #4 ?

[gn]

JC,

You should tell your friend this. There are 5 types of people:

1. Squatters.
2. Real renters (people who know they can’t afford to buy & act that way).
3. Renters who pretend to be homeowners (homeowners with exotic mortgages).
4. Real homeowners (homeonwers who can actually afford their house).
5. Homeowners who pretend to be renters (renters who have money to buy but are smart so they are waiting for the bubble to pop).

Then ask your friend this (while you are smiling, of course):

– Are you #3 or #4 ?

[gn]

JC,

You should tell your friend this. There are 5 types of people:

1. Squatters.
2. Real renters (people who know they can’t afford to buy & act that way).
3. Renters who pretend to be homeowners (homeowners with exotic mortgages).
4. Real homeowners (homeonwers who can actually afford their house).
5. Homeowners who pretend to be renters (renters who have money to buy but are smart so they are waiting for the bubble to pop).

Then ask your friend this (while you are smiling, of course):

– Are you #3 or #4 ?

[gn]

During the real estate boom, there were many “pretenders”. They come in many stripes:

1. People whose incomes are so low that lenders (under normal circumstances) would not lend them money to buy anything, not even condos. These people ended up as owners of SFH, anyway. They are “renters who pretend to be homeowners”.

2. People whose incomes allow them to buy condos/town houses only. These people ended up as owners of SFH, anyway. They are “condos/town house owner who pretend to be SFH homeowners”.

3. Then there are those who can afford a small SFH in Mira Mesa. When values go up, they extract equities to buy additional properties or fancy cars or fancy vacations. They are “lower middle class folks who pretend to be able to afford the upper middle class lifestyles.”

Now, the data from ForeclosreRadar.com tells me that Mira Mesa has more than its share of “pretenders”. These “pretenders” have been living beyond their means, so now it’s time to pay the pipers.

Basically, they mortgaged their future, they spent their future earnings. This means that they won’t be able to return to their previous standard of living before the bubble. So, they won’t even be able to rent in Mira Mesa.

Now, you can say that I’m a speculator if you want. But, there is a truism that transcend time/place: All debts have to be paid 🙂

[gn]

During the real estate boom, there were many “pretenders”. They come in many stripes:

1. People whose incomes are so low that lenders (under normal circumstances) would not lend them money to buy anything, not even condos. These people ended up as owners of SFH, anyway. They are “renters who pretend to be homeowners”.

2. People whose incomes allow them to buy condos/town houses only. These people ended up as owners of SFH, anyway. They are “condos/town house owner who pretend to be SFH homeowners”.

3. Then there are those who can afford a small SFH in Mira Mesa. When values go up, they extract equities to buy additional properties or fancy cars or fancy vacations. They are “lower middle class folks who pretend to be able to afford the upper middle class lifestyles.”

Now, the data from ForeclosreRadar.com tells me that Mira Mesa has more than its share of “pretenders”. These “pretenders” have been living beyond their means, so now it’s time to pay the pipers.

Basically, they mortgaged their future, they spent their future earnings. This means that they won’t be able to return to their previous standard of living before the bubble. So, they won’t even be able to rent in Mira Mesa.

Now, you can say that I’m a speculator if you want. But, there is a truism that transcend time/place: All debts have to be paid 🙂

[gn]

During the real estate boom, there were many “pretenders”. They come in many stripes:

1. People whose incomes are so low that lenders (under normal circumstances) would not lend them money to buy anything, not even condos. These people ended up as owners of SFH, anyway. They are “renters who pretend to be homeowners”.

2. People whose incomes allow them to buy condos/town houses only. These people ended up as owners of SFH, anyway. They are “condos/town house owner who pretend to be SFH homeowners”.

3. Then there are those who can afford a small SFH in Mira Mesa. When values go up, they extract equities to buy additional properties or fancy cars or fancy vacations. They are “lower middle class folks who pretend to be able to afford the upper middle class lifestyles.”

Now, the data from ForeclosreRadar.com tells me that Mira Mesa has more than its share of “pretenders”. These “pretenders” have been living beyond their means, so now it’s time to pay the pipers.

Basically, they mortgaged their future, they spent their future earnings. This means that they won’t be able to return to their previous standard of living before the bubble. So, they won’t even be able to rent in Mira Mesa.

Now, you can say that I’m a speculator if you want. But, there is a truism that transcend time/place: All debts have to be paid 🙂

[gn]

During the real estate boom, there were many “pretenders”. They come in many stripes:

1. People whose incomes are so low that lenders (under normal circumstances) would not lend them money to buy anything, not even condos. These people ended up as owners of SFH, anyway. They are “renters who pretend to be homeowners”.

2. People whose incomes allow them to buy condos/town houses only. These people ended up as owners of SFH, anyway. They are “condos/town house owner who pretend to be SFH homeowners”.

3. Then there are those who can afford a small SFH in Mira Mesa. When values go up, they extract equities to buy additional properties or fancy cars or fancy vacations. They are “lower middle class folks who pretend to be able to afford the upper middle class lifestyles.”

Now, the data from ForeclosreRadar.com tells me that Mira Mesa has more than its share of “pretenders”. These “pretenders” have been living beyond their means, so now it’s time to pay the pipers.

Basically, they mortgaged their future, they spent their future earnings. This means that they won’t be able to return to their previous standard of living before the bubble. So, they won’t even be able to rent in Mira Mesa.

Now, you can say that I’m a speculator if you want. But, there is a truism that transcend time/place: All debts have to be paid 🙂

[gn]

During the real estate boom, there were many “pretenders”. They come in many stripes:

1. People whose incomes are so low that lenders (under normal circumstances) would not lend them money to buy anything, not even condos. These people ended up as owners of SFH, anyway. They are “renters who pretend to be homeowners”.

2. People whose incomes allow them to buy condos/town houses only. These people ended up as owners of SFH, anyway. They are “condos/town house owner who pretend to be SFH homeowners”.

3. Then there are those who can afford a small SFH in Mira Mesa. When values go up, they extract equities to buy additional properties or fancy cars or fancy vacations. They are “lower middle class folks who pretend to be able to afford the upper middle class lifestyles.”

Now, the data from ForeclosreRadar.com tells me that Mira Mesa has more than its share of “pretenders”. These “pretenders” have been living beyond their means, so now it’s time to pay the pipers.

Basically, they mortgaged their future, they spent their future earnings. This means that they won’t be able to return to their previous standard of living before the bubble. So, they won’t even be able to rent in Mira Mesa.

Now, you can say that I’m a speculator if you want. But, there is a truism that transcend time/place: All debts have to be paid 🙂

[Author]

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