[luchabee]

I’m able to work from home and am new to the Inland Empire, having moved from San Francisco. (Wow. What a change!)

My wife and I have total flexibility in our locations. Anyone know about home prices in Yucaipa, Redlands, Beaumont, etc.? I see lots of new homes sitting out there. Ultimately, we would like to buy in a few years. However, I’m afraid if timed the market too well (and purchased at the bottom) these neighborhoods will be crime-ridden with a lot of the “middle-class” evaporating. Anyone have any experience out there in the sticks? Redlands is very nice near downtown, but the other communities seem to have some sketchy areas.

Any information on taxes, too, would be great.

[luchabee]

My wife and I recently walked through a neighborhood in Riverwalk (Pierce street), near La Sierra University in Riverside. It’s a fairly new community (five years old?) and we couldn’t believe the number of homes for sale.

Here’s a map from refin (not sure if it will show up):
http://www.redfin.com/stingray/do/listings-search#residential=true&condo=true&min_price=&max_price=&num_beds=&num_baths=&time_on_market_range=-&min_listing_approx_size=&max_listing_approx_size=&sold_within_months=0&min_parcel_size=&max_parcel_size=&min_year_built=&max_year_built=&status=1&lat=33.909700373974346&long=-117.48926281929017&zoomLevel=16&disp_mode=B&market=socal

It seemed like every other house was for sale, including a bank owned home. After this, I drove my brother through the neighborhood and he commented about all the homes for sale and he doesn’t even follow real estate. Looks like the I.E. will likely be ground zero for most of this.

[luchabee]

It’s a nice, elegant theory, but very simple, even black and white. There are so many other interest groups, like socialist governments who want to suck off profits to pay for their burgeoning welfare states.

Though he says it’s not a political debate, it is. He’s clearly a socialist.

Also, unfortunately, the “prescription” for curing corporate influence on an international level is worse than the disease. Why would you implement bone-headed economic policies that weaken everyone, including the wealthy, middle class, and poor, like Hugo Chavez? His economy is splintering:

http://www.bloomberg.com/apps/news?pid=20601086&sid=aTUqRT3KYeY0

How many people have died in communist governments in the interest of the advancement of the proletariat? Answer: 100 million people. Modernly, look at Hugo’s restrictions on the free press for a contemporary example.

Lastly, notice what he doesn’t talk about: India and Asia.
These countries have worked with Western Powers, adopted modern capitalist economies, and are now competing and beating this “Empire.”

It’s the recalcitrant third-world socialists who have destroyed their economies, repressed (and murdered) their people, and taken private companies and businesses that are far more destructive than a US led economic system that gives out loans in return for consideration and takes out an occasional left-wing nutjob who goes too far in repressing his people.

I typically find that left-wingers lack an ability to really examine issues in a detailed fashion. They say ALL war is bad, but never examine what is stopped by war or they say American corporations are bad, but don’t examine the record of past or contemporary socialist governments in the arenas of human rights or economic progress. In sum, I’ll take a Korea or Taiwan anyday over a Bolivia or Venezuela.

[luchabee]

Sorry, stockstrader, I meant to write going “short” in the market and not long. You’re definitely not a buy-and-hold investor, like me. (It was the last e-mail of the night and I was fading quickly.)

I’ll need some time to digest your generous response. Thank you for explaining your rationale. Given work today, I’ll need a little time to reply. Cheers.

Luchabee

[luchabee]

For those going long like stockstradr, how do you time the market going back up? While it’s clear there’s going to be a huge correction for the next few years, don’t you miss buying all these stocks now at a lower price through dollar cost averaging? From the studies I’ve seen in academic and financial planning articles, it’s very difficult to time the market. What about modern portfolio theory and the efficient market hypothesis? Have these been completely discredited in this new, brave (subprime meltdown) world?

When the market turns bullish again (in a few years), you’ll probably still be shorting. Moreover, the majority of the gains occur in just a few huge days of the year, so you won’t be able to time it when it goes up again. That means, and again I’m a relative novice, that most people who time it will take initial lossess seeing the market decline, but will not be ready to get back in when it (unpredicatably) recovers.

Don’t get me wrong, I’m a total bear on real estate, but we can follow the mortgage reset table, etc. In the financial markets, there seems to be too much uncertainty and noise to time it correctly, i.e. government intervention, international events, commodity prices, M&As, etc.? Maybe, I’m just of the old school (though I’m only 33).

Any thoughts?

[luchabee]

Actually, humor, if any, was a collateral intent.

My main point really is that some people will fall into foreclosure that don’t have to. A lot of people are so lazy they’d never consider working harder to avoid this; They will just let it happen to them, thinking they were screwed by the mortgage company. Yes, they were. However, they should take some responsiblity and get another job or a better one.

Will many people do this? Nope. However, if I had a friend in this situation, I’d tell ’em that working 9-5 ain’t going to cut it and to get another job or two. Again, this will not work for many people who have no chance at a recovery, but it is the only advice we could give anyone we knew in this predicament who have a chance at saving their homes.

[luchabee]

Actually, humor, if any, was a collateral intent.

My main point really is that some people will fall into foreclosure that don’t have to. A lot of people are so lazy they’d never consider working harder to avoid this; They will just let it happen to them, thinking they were screwed by the mortgage company. Yes, they were. However, they should take some responsiblity and get another job or a better one.

Will many people do this? Nope. However, if I had a friend in this situation, I’d tell ’em that working 9-5 ain’t going to cut it and to get another job or two. Again, this will not work for many people who have no chance at a recovery, but it is the only advice we could give anyone we knew in this predicament who have a chance at saving their homes.

[luchabee]

Yes, throwing good money after bad is not a wise business decision.

However, with a $500-1,500 net loss each month that can be decreased with budgeting and one or two of the parents getting off of their butts and working another job, it would be better to work to pay off the reset. This is a fair price to pay for not going undergoing the trauma of foreclosure, especially for a family.

Again, this advice is for someone you know. And, no, it will not work for everyone. For example, if they are making $40,000 a year with a $780,000 mortgage, $40,000 in credit cards, and two new SUVs in the drive way, they should walk.

[luchabee]

Yes, throwing good money after bad is not a wise business decision.

However, with a $500-1,500 net loss each month that can be decreased with budgeting and one or two of the parents getting off of their butts and working another job, it would be better to work to pay off the reset. This is a fair price to pay for not going undergoing the trauma of foreclosure, especially for a family.

Again, this advice is for someone you know. And, no, it will not work for everyone. For example, if they are making $40,000 a year with a $780,000 mortgage, $40,000 in credit cards, and two new SUVs in the drive way, they should walk.

[luchabee]

This suggestion was for someone you know. Seriously, if their situation can be remedied by working harder, this is what they have to do. Will it work in all cases? No. Some? Yes.

Of course it is hard, but this is the only cure I can think of for a F/B. Walking away? It will work for some, but for families, it can be very difficult to go through. If this situation can be remedied by the dad getting a night job and the stay-at-home mom working a part-time job, this would be a far better solution than walking away, humiliated, homeless, broke, and defeated. Sure, it will not work for people who are way maxed out, but if they cut down their expenses and just need a $1,000 per month encourage them to get a job and stop eating out every night.

[luchabee]

This suggestion was for someone you know. Seriously, if their situation can be remedied by working harder, this is what they have to do. Will it work in all cases? No. Some? Yes.

Of course it is hard, but this is the only cure I can think of for a F/B. Walking away? It will work for some, but for families, it can be very difficult to go through. If this situation can be remedied by the dad getting a night job and the stay-at-home mom working a part-time job, this would be a far better solution than walking away, humiliated, homeless, broke, and defeated. Sure, it will not work for people who are way maxed out, but if they cut down their expenses and just need a $1,000 per month encourage them to get a job and stop eating out every night.

[luchabee]

Perry,

Your comments about not funding sex education are hilarious. Making an argument from an excpetion to the rule is a waste of time.

I’ve lived in a lot of crime-ridden urban centers in California, especially in Northern California. All of them were overwhelming bastions of liberal group think, teaching the latest in diversity, “tolerance,” and sex education. There was no condemnation for teenagers having sex; it was just accepted or encouraged. No condemnation for girls getting pregnant; it was accepted.

No, instead, they were blaming Bush for this or that . . . Not once was did I witness any conservatives advocating abstinence. There weren’t any conservatives there to begin with.

These are the same kids who can’t even read out of high school, but they educators thought they would reliably use birth control pills everytime or a condom everytime.

You need to get out more and come visit a big city.

[luchabee]

Perry,

Your comments about not funding sex education are hilarious. Making an argument from an excpetion to the rule is a waste of time.

I’ve lived in a lot of crime-ridden urban centers in California, especially in Northern California. All of them were overwhelming bastions of liberal group think, teaching the latest in diversity, “tolerance,” and sex education. There was no condemnation for teenagers having sex; it was just accepted or encouraged. No condemnation for girls getting pregnant; it was accepted.

No, instead, they were blaming Bush for this or that . . . Not once was did I witness any conservatives advocating abstinence. There weren’t any conservatives there to begin with.

These are the same kids who can’t even read out of high school, but they educators thought they would reliably use birth control pills everytime or a condom everytime.

You need to get out more and come visit a big city.

[luchabee]

I’ll take unmarried couples living together over an unmarried, single parent, as better for the kids. No contest here.

What about mothers with serial partners or boyfriends who left? In my experience, “committed cohabitaion” is especially prominent in the educated, upper class, not in the working class or minority populations. My prescription was not a marriage license. The only hope is a spiritual awakening, but, I believe, it is too late for Western culture, absent a miracle by God. We are too weak, too spoiled, too distracted, and too amoral for any transformation.

You are wrong. Society is falling apart in the US, especially in the inner cities because of this.

Don’t believe me? Walk through Oakland, CA at night by yourself or take a nice little jog through East LA on a weekend at night. Tell all those kids without fathers (the one’s with gang tatoos who got out of prison yesterday) that you’re a cool, tolerant, and hip liberal just trying to see if there is a crime problem in LA. Not your scene, try San Bernardino, CA, maybe for a little scenic drive on a Friday?

Also, the middle class is just increasingly accepting out-of-wedlock births (in the last decade or so) believing it’s no big deal. Give it time and a few more generations and middle class non-marital births might start competing with the inner cities. Offhand, black non-marital children comprise 70% of all births. For Latinos in the US, it’s probably 30-40%. Again, patience. Give it a little time.

If we throw more money at it, though, or get a new fancy government program designed by academics, costing a few billion, maybe it’ll change?

[luchabee]

I’ll take unmarried couples living together over an unmarried, single parent, as better for the kids. No contest here.

What about mothers with serial partners or boyfriends who left? In my experience, “committed cohabitaion” is especially prominent in the educated, upper class, not in the working class or minority populations. My prescription was not a marriage license. The only hope is a spiritual awakening, but, I believe, it is too late for Western culture, absent a miracle by God. We are too weak, too spoiled, too distracted, and too amoral for any transformation.

You are wrong. Society is falling apart in the US, especially in the inner cities because of this.

Don’t believe me? Walk through Oakland, CA at night by yourself or take a nice little jog through East LA on a weekend at night. Tell all those kids without fathers (the one’s with gang tatoos who got out of prison yesterday) that you’re a cool, tolerant, and hip liberal just trying to see if there is a crime problem in LA. Not your scene, try San Bernardino, CA, maybe for a little scenic drive on a Friday?

Also, the middle class is just increasingly accepting out-of-wedlock births (in the last decade or so) believing it’s no big deal. Give it time and a few more generations and middle class non-marital births might start competing with the inner cities. Offhand, black non-marital children comprise 70% of all births. For Latinos in the US, it’s probably 30-40%. Again, patience. Give it a little time.

If we throw more money at it, though, or get a new fancy government program designed by academics, costing a few billion, maybe it’ll change?

[Author]

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