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JWM in SD
ParticipantLateSummer,
Fair Enough. Just thought I’d ask the question. I’m sure that I’m no the only one who was curious about that.
ParticipantLS, with all due respect, why are posting about West LA on a San Diego board??? Nobody here is interested in Beverly Hills. I like your style, but I’m not sure why you’re posting here.
ParticipantLS, with all due respect, why are posting about West LA on a San Diego board??? Nobody here is interested in Beverly Hills. I like your style, but I’m not sure why you’re posting here.
ParticipantSD Realtor, the market going down is not what I take issue with. It’s telling the newbies who come that it’s okay to buy a house if they can afford it now and plan on staying for a long time. Ordinarily, that would be reasonable advice. Now, it isn’t. There are some bad economic events on the horizon. This housing bubble wasn’t natural like the one in the early nineties. It was driven by macroeconomic issues with credit liquidity. Those issues are coming to head as we speak. Purchasing overpriced illiquid assets of anykind right now is not a good idea. Specifically bubble area real estate.
ParticipantSD Realtor, the market going down is not what I take issue with. It’s telling the newbies who come that it’s okay to buy a house if they can afford it now and plan on staying for a long time. Ordinarily, that would be reasonable advice. Now, it isn’t. There are some bad economic events on the horizon. This housing bubble wasn’t natural like the one in the early nineties. It was driven by macroeconomic issues with credit liquidity. Those issues are coming to head as we speak. Purchasing overpriced illiquid assets of anykind right now is not a good idea. Specifically bubble area real estate.
ParticipantSorry, but I’m a working stiff. The westside of LA is something I’ll probably never contemplate as home…unless we really overshoot the mean.
I do want to know what you really think. I’m curious to se if it differs from my own perceptions of what the LOs and the rest of the greedy bastards were really doing.
ParticipantSorry, but I’m a working stiff. The westside of LA is something I’ll probably never contemplate as home…unless we really overshoot the mean.
I do want to know what you really think. I’m curious to se if it differs from my own perceptions of what the LOs and the rest of the greedy bastards were really doing.
ParticipantLatesummer I have to say, I commend you on bringing the “bear” back to this site. For a while there, most of the posters were turning into a bunch of handwringers and psuedo permabulls. However, I have to ask, why do you seem to post here at piggington more often than you do at your own site??
I also didn’t realize that you were part of the REIC until I saw that last post from you. That’s very interesting…an insider who is overtly bullish. That is different than what I’m used to seeing here. Usually you have the two SD Realtors posting here but always speaking out of both sides of their mouth(s)….for obvious reasons I suppose.
What lead you to become so bearish when your peers are still trying to float the RE cliches and myths regardless o f how pathetic and transparent it is at this point?
ParticipantLatesummer I have to say, I commend you on bringing the “bear” back to this site. For a while there, most of the posters were turning into a bunch of handwringers and psuedo permabulls. However, I have to ask, why do you seem to post here at piggington more often than you do at your own site??
I also didn’t realize that you were part of the REIC until I saw that last post from you. That’s very interesting…an insider who is overtly bullish. That is different than what I’m used to seeing here. Usually you have the two SD Realtors posting here but always speaking out of both sides of their mouth(s)….for obvious reasons I suppose.
What lead you to become so bearish when your peers are still trying to float the RE cliches and myths regardless o f how pathetic and transparent it is at this point?
ParticipantDeeper meaning that reversion to the mean will cause an overshoot when the worst of this is realized by the public at large. As much as I like Rich, I don’t agree with everything he thinks. I’ve moved beyond the housing price symptoms and into the economic causes and I think things are going to get a lot uglier than even the bears realize. Too many people on this site have a very “micro” view of what’s happening right now. The real estate bubble is not local, it’s national. It’s just that areas like San Diego have seen the most extreme effects of it due to the desireability of the location. It’s always been expensive relative to other parts of the country and therefore suffers more from extremes in lending practices and economics. The internet was not present in the last bust. There was major information asymmetry (spelling?). Things are much different now.
ParticipantDeeper meaning that reversion to the mean will cause an overshoot when the worst of this is realized by the public at large. As much as I like Rich, I don’t agree with everything he thinks. I’ve moved beyond the housing price symptoms and into the economic causes and I think things are going to get a lot uglier than even the bears realize. Too many people on this site have a very “micro” view of what’s happening right now. The real estate bubble is not local, it’s national. It’s just that areas like San Diego have seen the most extreme effects of it due to the desireability of the location. It’s always been expensive relative to other parts of the country and therefore suffers more from extremes in lending practices and economics. The internet was not present in the last bust. There was major information asymmetry (spelling?). Things are much different now.
ParticipantIt will happen faster & deeper because of the internet. Look at the attention these housing blogs are getting. Lanser at OC Register reached out to Ben Jones over a year ago. Anyone looked the RE Section at the OC Register site lately? Its all bad news all the time. He knew it was coming and that it was not just a bunch of bitter renters bitching about being priced out. The MSM is not going to let this go. They will latch onto it like a pit bull. Other MSM will follow the OC Register example as things become more obvious and J6Pack will begin to finally figure out what is going on…albeit 2 years too late.
ParticipantIt will happen faster & deeper because of the internet. Look at the attention these housing blogs are getting. Lanser at OC Register reached out to Ben Jones over a year ago. Anyone looked the RE Section at the OC Register site lately? Its all bad news all the time. He knew it was coming and that it was not just a bunch of bitter renters bitching about being priced out. The MSM is not going to let this go. They will latch onto it like a pit bull. Other MSM will follow the OC Register example as things become more obvious and J6Pack will begin to finally figure out what is going on…albeit 2 years too late.
ParticipantYeah, let’s see the permabulls spin this one. This is probably why Lereah bailed when he did.
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