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LookoutBelow
ParticipantAs I said on a previous post some months back, its going to get more and more dangerous and "normally" balanced people will be pushed over the edge and do things they normally wouldnt do….Its sad really, but nobody was holding a gun to their head when they bought those over priced shrines of ignorance, it was pure greed.
ParticipantTHATS what Im talkin about !
Let the race to the bottom begin ! (900 sq ft? LOL…still too high)
The sillyness is officially OVER
ParticipantLereah is a complete simpleton……could his ridiculous cheerleading be any more blatant ?
ParticipantA sucker born every minute…..
ParticipantI had similar feelings cruising the area a while ago…..my main question was Why ? Jeez, your out in the middle of nowhere and its dusty, barren (except for the urban sprawl) and underdeveloped I thought. I have played that golf course also, its HARD because they didnt spend the HUGE amounts necessarry to make it playable, they got cheap in a few area's.
I have seen houses (lots) around the course that dsont have any landscaping and have sheets hanging in the windows, not drapery.
There will be some blood baths in Santa Luz….And sooner than you might think in my opinion, the noveau riche always get hit the hardest and fastest during economic downturns
ParticipantHilarious logic !
Reminds me of the "Bigger fool than I" scenario in reverse. If he cant afford to move even "Next Door" at his current income level, then you would have to conclude NOBODY at the same income level or lower could afford to do so also. Which makes me laugh at his silly thought process when deciding his real estate's value.
"Stuck" comes to mind
I'll bet he has HELOC's all over that property, thats how that 38K ski boat in the driveway and the 40K truck that pulls it got there.
ParticipantA buddy of mine is a custom cabinet maker…….He's slow, worried and nervous……
ParticipantThis administration has built its entire economy on cheap lending for homes to paper over the dot com disaster. They will tell you that jobs are up for the quarter, while people are starving on the streets.
Next I expect the real estate to be "reported" that its back on the rise and high tech stocks are going to be the next big boom (again) Hahahahaaaa
Believe 1/3rd of what you read and NONE of what you see on the TV.
ParticipantA little known fact that is often underplayed by the locals is that the Coronado Cays area was built on a county dump. The homes in that area are infested with mold, the dangerous kind. I have a friend who has been sued because of this. I ALSO have a friend who is currently in litigation on TWO different properties in the "Cays" regarding mold for his clients. Very big deal down there. Seldom talked about for obvious reasons.
I also lived there a long time ago and ANOTHER little known fact is the rat problem in Coronado. They are, in some places, being overrun with the rodents. Its gross. I saw them all the time and they are aggressive little buggers. It was a BIG deciding factor on why we left there.
In the (6 months) summer, you can plan on a 20-30 minute for 3 miles of travel because of the tourista's clogging the only main artery. The bridge is closed at least twice per month for suicide jumpers, further clogging the streets for hours and hours…Now add to that, an aircraft carrier coming to port and disgorging 5,000 sailors and their 5,000 strong greeting family members and you'll quickly get the picture…"We arent going anywhere tonight honey"
It is not the quaint little resort town you might think it is.
October 1, 2006 at 6:44 AM in reply to: False Market, Developer Rents out unsold homes, Ripple Effect #36918ParticipantAhhhh…..As I was saying last year, "Therein lies the biggest problem" for the investor (gambler) on these silly real estate ventures…..but they kept the economy afloat for another 3 or 4 years and allowed the commodity traders to cash in on the resource futures.
Were reaching the "Critical mass" point of this cycle.
ParticipantGlobalization is a hideous failure.
People and govts like to dream up new words, catch phrases and colloquilisms to describe the age old capitalistic method of exploiting cheap labor from poor, uneducated 3 rd world countries with corrupt govts.
Do the people of China live a better life now that Wal-Mart and everybody else manufactures there ? I should say definitely NOT ! Do a few of the elite Chinese live better ? Decidely YES !
Charity begins at home.
Its the way of the world, get used to it, eventually like in the 30's it all fails and we begin again.
ParticipantI fully expect the govt to try and do something about it. The keyword is "Try"…..They may have let this little economic boost and detour from the dot com depression grow into the proverbial "800Lb. Gorilla"
I am of the mindset that it CANT be stopped at this point, the fallout will be painful for many, many people. This is another one of those "cycles" that make up the graph.
As usual, the little guy has a very tough time cashing in on these type declines. The S&L faliures of the 90's made property available at previously unheard of low amounts, but as usual, the big fish seeing this as an opportunity to use their financial might and make a very quick buck then the available properties were all wrapped up into HUGE real estate portfolio's and only the very, very rich could bid on these "portfolio's" that were starting at around 600 million dollars per package, then they tack on another 25% and only THEN do they make them available to the little guy, you and me, so our real savings bargain was dliuted by at least 25% or more.
I did get to buy 2 lots on a very exclusive golf course and I flipped them in a 2 year period and made some serious (for me) money on. I just wanted to do it again and again ! But was priced out pretty quickly when the big boyz got wind of it.
ParticipantIf you were swinging a brass set of balls, you would go long on oil futures ! I expect the oil to go back to its meteoric rise right after the interuptions of the coming elections…..Its a ploy used about a billion times before in the past, why dont people see it ?
"United States of Amnesia"
ParticipantIf you follow "Elliot Wave Theory" we are entering a Kondratieff Winter phase.
There is evidence (unproveable at this time) that there is some "offshore" govt intervention and manipulation. Google up "Plunge Protection" and read what you read and THEN decide if the market your "investing in" is not a rigged game.
I got out 2 years ago, it may or may not be the case, but Iam not willing to take that type of chance with my resources when thee is some feasible evidence that this is going on. I like to error on the side of conservatism when the results make the difference of whether or not I have to hang up the surfboards and go back to work.
"Life is too short for a full time job"
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