[LostCat]

Yeah, first and for most don’t trust any stat that comes out of SANDAG. That place is a freakin joke. I work with them and you should listen too the people that work there. They have no clue and are so small town. They don’t know how to use models. They’re such a joke.

Also, I’d think that rents would fall when housing is falling.. If rents go to high and no one can afford a house, what will people do? Move away and out of town. Do rents still go up? Does home values keep going up? I doubt it.

[LostCat]

Garysears,

Good question. I am not sure I would short GE, just yet. They do own everything and some areas I am sure are taking profits. Just the subprime company they bought, WMC, a year ago, is faultering. But word is they want to become an A lender. Not sure if that matters. However, when this subprime flounder starts to trickle into our economy, I am sure GE will take a hit because no one will be able to buy thier products.

I was thinking of looking up HomeDepot products and start shorting evertyhing they sell. lol

But then again, I am not financial consultant. So what the hell do I know. I just like reading the others input. And do believe that there will be meltdown far beyond that of just the housing market.

[LostCat]

Yeah, crazy times ahead. Does anyone think/believe that the coming years could resemble that of the great depression years?

to me, it seems like things could get even worse. Now instead of just the stock market crash, we have energy problems, global war, no manufacturing jobs left in this country, limited resource, and a white house that has their head up their ass and thinks apologizing for their mistakes every two weeks is the way to get around their incompetence.

My poor kids.

[LostCat]

So maybe this is a really good time to introduce the expanded use of the hydro car. It will help it rain if all 19 million So Cal residence start driving them.

But this topic brings up a good point. The next nice big economic push. The Enviornment. Now that stocks are gone, housing is long gone, Bio will always treat and never cure, the only thing left is to make things enviornmentally safe..

[LostCat]

I am not sure. All I know is that a lot of staff was crying. lol Bakersfield completely shut down, only Burbank is left right now in So. Cal. Sales staff there was cut by 40%. Over 450 employees gone.

Apparently things are getting really ugly, as we all already know.

The person I know that word there. Yes, that did work there, said that he knows about 20 people that work for them that have their houses on the market as short sales. lol

I was a little suspect about this whole thing folding as much as it has, but now I believe that the whole thing is really going to hit. We should all be running for cover.

[LostCat]

No_Such_Reality, I don’t understand your grammar? What are you trying to say. I am not trying to sound like a punk, I just don’t understand what you are saying!

[LostCat]

Yep, it happend. Lot’s of layoffs today. Executives meeting right now about how to move fwd. No more 100% financing, even on full docs.

[LostCat]

Chris is still employeed and working away. Things are slow and there is still some concern. Yes, WMC is owned By GE. GE bought WMC about a year ago at the top of the market. The old owner and CEO left the company right after the purchase.

There is a lot going on here and no one is for sure, even employees, about what is going to happen. All Chirs sees is no money coming in and a lot of foreclosures and loan buy backs.

[LostCat]

Yeah, I am not sold that Kensington is a better hood than Del Cerro. There isn’t much in Kensignton to brag about. The houses are a little older, but the schools suck and it’s right next to the Ghetto. There are always Ghetto birds flying above. My friend that lives in kensington says that every night they wake up to helicopters above. It’s worse than the train they lived next to when they rented downtown. Plus all the Neighbors with kids above 4 are moving out because the schools are horrible. Also, there are a lot of gay people that live in the area and he said that they tend to keep to themselves more than families do. He used to visit me and my wife in Del Cerro and now tells me he wished he would have bought in Del Cerro. So it’s all preference.

[LostCat]

Dontpanic, you have no clue.. But right now they are still in business. What they heck do you know about WMC anyway? Unless you are an executive, you know nothing.

[LostCat]

I take back everything I said. after reading PerryChase’s comments and seeing where the house is, no house in the hood is worth $700k.

[LostCat]

Del Cerro is a big area. You need to first understand what area you are considering. Old Del Cerro has always been the more affluent neighborhood compared to the neighborhood of Allied Gardens. Homes located off of Del Cerro Blvd are old, but much nicer and larger. Many have views. I think I know the house you are talking about. it’s located off of Linefield Ave. It’s a nice place, but hardly worth what they are asking.

Since I lived in Del Cerro, I’ll note the plus and negatives:

Plus:
– Great Elementary School (the top in the CIty of SD)
– Great neighborhood watch group. Everyone knows what is going on and who is who.
– close to the store. You can walk to windmill farms (same as Henrys’)
– close to I-8, and I-15. Takes me about 15-min to get to and from work downtown every day.
– Nice views
– A lot of young people starting move in (newly wed or nearly dead as they say)
– No HOA or Melaroos.
– Close to everything.
– Gas on the way to the freeway
– Super friendly neighbors.

Negatives:

– a little on the expensive side right now (but this is everywhere in SD right now)
– houses are very old and cold.
– most houses need upgrades (insulation, paint, yards, etc..)
– Too many rock front yards

[LostCat]

Del Cerro is a big area. You need to first understand what area you are considering. Old Del Cerro has always been the more affluent neighborhood compared to the neighborhood of Allied Gardens. Homes located off of Del Cerro Blvd are old, but much nicer and larger. Many have views. I think I know the house you are talking about. it’s located off of Linefield Ave. It’s a nice place, but hardly worth what they are asking.

Since I lived in Del Cerro, I’ll note the plus and negatives:

Plus:
– Great Elementary School (the top in the CIty of SD)
– Great neighborhood watch group. Everyone knows what is going on and who is who.
– close to the store. You can walk to windmill farms (same as Henrys’)
– close to I-8, and I-15. Takes me about 15-min to get to and from work downtown every day.
– Nice views
– A lot of young people starting move in (newly wed or nearly dead as they say)
– No HOA or Melaroos.
– Close to everything.
– Gas on the way to the freeway
– Super friendly neighbors.

Negatives:

– a little on the expensive side right now (but this is everywhere in SD right now)
– houses are very old and cold.
– most houses need upgrades (insulation, paint, yards, etc..)
– Too many rock front yards

[LostCat]

Yeah, this development is a TAX. Nice looking hood, just wrong place, too expensive, no yards, HOAs, new schools with a bunch of plastic kids that will grow up to be plastic just like their mom and dads.

[LostCat]

Doofrat, this is my concern. The White House is printing green backs faster than ever right now to deflate the dollar in global markets. Our labor is going to get cheaper globally, but things that are bought over seas are going to become more expensive here. As long as salaries keep up with inflation, then this could be something that might happen. But how fast does it need to happen?

[Author]

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