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could be way wrong, but I’m just not seeing La Jolla SFRs bottoming out to $350,000.

I’d agree, but I also agree when you said something of the line: f i f t y t h o u s a n d d o l l a r s !!!!

I too remember the day, not too long ago when a price premium between a good and bad area was $50,000-$100,000. And a million dollar home, was a million dollar home.

Today, less than a decade later, the difference between a okay area and bad are is $300,000 and an good area adds another $200-$300K and average homes are million dollar homes and what was a million dollar home is now a $5,000,000 or $8,000,000 home.

While I doubt you’ll see $350,000 in La Jolla, you will else where. Possibly even less. Then the question becomes, how much is the price premium when a good home in a not so great area is $200-300,000. What’s a good home in a good area go for? And was does a good home is a premium area like la Jolla go for?

Will the premium become less? Or will it be more? The majority are living on credit, that points to less. Yet, the premium areas cluster with high income earners whose incomes and wealth are and have risen disproportionately to the majority. That tends to indicate the premium will be steeper (as a percentage).

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The Irvine Housing Blog covered the sales price affects on land value. Irvine Land Value

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The Irvine Housing Blog covered the sales price affects on land value. Irvine Land Value

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I think the UT article was disingenuous and more like a piece of real estate propaganda because it gave examples of real estate investments without evidence of the return on investment.

The House Flipper shows are all re-running prior episodes. Haven’t seen many new ones expect for Real Estate Pros, the original guy from South Carolina.

What’s interesting is the re-runs, now have flash forwards and updates. With the flippers bravely claiming to basically have “broke-even” and not many willing to do it again.

[no_such_reality]

I think the UT article was disingenuous and more like a piece of real estate propaganda because it gave examples of real estate investments without evidence of the return on investment.

The House Flipper shows are all re-running prior episodes. Haven’t seen many new ones expect for Real Estate Pros, the original guy from South Carolina.

What’s interesting is the re-runs, now have flash forwards and updates. With the flippers bravely claiming to basically have “broke-even” and not many willing to do it again.

[no_such_reality]

Companies will do that. They know that if they raise rent on 100 people $100, that only two or three will leave because of it. Since they’re big, they’ll re-rent the place in a month because they are the default choice for everybody that is “too busy” or “has to move right now”.

At least, that’s how it’s going to go until vacancy gets back to reasonable levels.

[no_such_reality]

Companies will do that. They know that if they raise rent on 100 people $100, that only two or three will leave because of it. Since they’re big, they’ll re-rent the place in a month because they are the default choice for everybody that is “too busy” or “has to move right now”.

At least, that’s how it’s going to go until vacancy gets back to reasonable levels.

[no_such_reality]

Where did the 715,000 number come from ?
As of 1995, the Census bureau has over 3 Million households in the US alone making over $200,000.

A global poverty site, it’s obviously wrong. Actually, it referrred to persons and not households. So…

Finding wealth and more importantly, income stats is extremely difficult.

[no_such_reality]

Where did the 715,000 number come from ?
As of 1995, the Census bureau has over 3 Million households in the US alone making over $200,000.

A global poverty site, it’s obviously wrong. Actually, it referrred to persons and not households. So…

Finding wealth and more importantly, income stats is extremely difficult.

[no_such_reality]

Patient Renter, if you haven’t read it or seen it, be sure to look through HSBC research Froth Finding Mission

Per your 1% of 1% discussion point in another thread, you may like CapGemini’s “World Wealth Report” There are only 9.5 households with net worth in excess of $1 million excluding their principle residence. Ultra high net worth, $30M+, the people that can go and do whatever they want, only number 95,000. Similarly, the top 1% of people in the world make a mere $50,000. The top 0.01%, $200,000. That’s a mere 715,000 people.

[no_such_reality]

Patient Renter, if you haven’t read it or seen it, be sure to look through HSBC research Froth Finding Mission

Per your 1% of 1% discussion point in another thread, you may like CapGemini’s “World Wealth Report” There are only 9.5 households with net worth in excess of $1 million excluding their principle residence. Ultra high net worth, $30M+, the people that can go and do whatever they want, only number 95,000. Similarly, the top 1% of people in the world make a mere $50,000. The top 0.01%, $200,000. That’s a mere 715,000 people.

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Thank you Colin, that was one of the ones I remembered.

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Thank you Colin, that was one of the ones I remembered.

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PC, I think you’re optimistic. The condos downtown almost uniformly have too high of a ongoing expense structure. The HOA fees wreck the owning versus rent scenario even before taking into account the likely suppression of rents.

[no_such_reality]

PC, I think you’re optimistic. The condos downtown almost uniformly have too high of a ongoing expense structure. The HOA fees wreck the owning versus rent scenario even before taking into account the likely suppression of rents.

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