[PerryChase]

There’s no law against getting a bad deal. A deal’s a deal. That’s what our whole economic system is based on.

Buyers have tried suing in the early 1990s but have been unsuccessful. Some builders did give rebates to buyers who closed just before a big price drop. I was a recipient of such rebate. Buyers can cause problems for builders who are trying to close out their projects, but buyers are unlikely to prevail in court.

[PerryChase]

BuyerWillEPB, good for you that you took 3 months off to go to China. There’s nothing like seeing it in person. What people know about China from the press is only part of the story.

A rising China does not mean a declining USA. China can help America grow and vice versa. America share of the world’s GDP may decline but we should be OK with that as long as we can grow. As other countries get richer our share of the political influence will also decline. That’s not necessarily bad either.

As Tom Friedman said (I paraphrase) as we are stuck in Iraq and the war on terror, China and other countries are forcing new alliances and commercial ties. The world is moving on without us. We’d better fix Iraq quickly and move on with our lives. It’s like trying to sell an overpriced house for years. Your life is on hold during that period while your peers are happily living their lives.

If you travel to Asia, you can feel that China is beginning to replace America in terms of commerce and influence.

[PerryChase]

It’ll be interesting to see the price at which this house sells at. Looks like a spec house to me.

Yeah, I too would like to know that what Mexico Resident thinks a typical SD person is. That person will be different depending on part of the County you live in.

[PerryChase]

My grand ma used to tell me that I was too thin or fat, pale, etc… She was a demanding lady and nothing was quite good enough for her. But I loved her because she made delicious food and told me wonderful bedtime stories. She’s probably why I take criticism quite well now.

Mark Holmes is right, if you value your friendships, don’t rub it in. However, I think that’s is not fair because they were probably gloating when they were “making” money and you weren’t. What goes around comes around; but if you’re spiritual, you’d let it slide. If not, feel free to vent anonymously online, ha.ha 😉

[PerryChase]

I’m also a nutrition nut and I speak from personal observation . We all know that inflammation is what causes the ageing process.

I’ve spent time studying Oriential medicine in Asia and I find that in their culture, the key is to be “cool” and avoid “hot” foods. It’s a concept that is foreign to Westerners. Well, coffee is simply very, very “hot” and causes internal inflammation (stomach upset,etc…). Just observe people who consume coffee everyday vs. those who don’t.

I won’t go into details but my diet is a modified combination of Calorie Restriction, Mediteranean (sans the carb), and Asian cuisine (sans white rice), with lots of herbs/spices but no added salt, sugar or refined/processed products.

Don’t get me wrong, I’m not a health evengelical. And socially, I’ll eat anything. I never proselytize because people don’t appreciate eating advice. Although I do have a bet going with a good buddy on his inability to loose weight(he claims he can). I’m waiting a few months to collect on my 500GB hard-drive, ha.ha 😉

Back to the economy… I think that there’s been a shift in our culture in the last 20 years. People have fancier kitchens but they cook less, and if they do, it’s the frozen and processed foods. I’m an observer of grocery baskets.

The chain restaurants that offer “value” (large portion), a theme and “reasonable” (but not luxury) prices will continue to do well regardless of the downturn (Starbucks, Cheesecake Factory, PF Chang, CPK, etc…) People will find money for that small escape. It’s easier to get rid of the SUV than diner out.

The high-end independent restaurants will suffer.

[PerryChase]

I can understand why people go to Starbucks. In today’s busy and stressful world, a cup of Starbucks is nice respite from the surrounding environment. Starbucks stocks will continue to do well despite the coming economic downturn.

But best not to drink coffee at all. It makes your body “hot,” increase inflamation within the body and accelerates the ageing process.

[PerryChase]

Why would people who can afford conventional 30-year mortgages sign on to Option ARMs especially if the fees are higher with prepayment penalties?

Like the example in the LA Times article, people start out with the best intentions, but they then find themselves getting seduced by the “instant wealth.”

I’m guessing that the fallout will be much worse than industry analysts have expected.

bob007, I don’t think that it’s fine to buy overpriced houses. If you overpay for a house, you’re giving up on many other things; and in the end you’re worse off than you would’ve otherwise been. Think about it. It’s not OK.

[PerryChase]

I don’t now about Orange County but in San Diego, you can check the latest sale prices at the San Diego County Recorder’s website or at http://www.sdlookup.com. There should be similar services for Orange County.

From what I understand, at least for San Diego, Zillow draws data from the MLS and not the Recorder’s office. Because of that, sales from developers don’t show up on Zillow.

[PerryChase]

Hertzberg always looks at these fliers, hopeful in spite of himself. “I’m waiting for a 100-year loan,” he said. “My heirs can worry about paying it off.”
———
An interest only loan is a loan in perpetuity. An option ARM is a growing debt that never gets paid off.

Since this guy is not paying down any principal but adding on to it, he’s already way beyond the 100-year loan!!!

[PerryChase]

Ride their bikes? Are you kidding? People drive to get accross the shopping center — like from Pier 1 to Barnes & Noble accross the way.

Yes, in Holland people ride their bikes. The city is small and you can get accross town in no time. The Dutch also live in apartments, not houses.

It’s too bad because San Diego would be a great bike city only if the urban planning permitted it.

I hate to say it but I can’t imagine an American mother biking to go grocery shopping. How would she get all the giant packages home? If you travel overseas, you can always tell the American tourists by the giant drink bottles they carry with them.

[PerryChase]

Link to Full Story on Yahoo News

[PerryChase]

Someone please explain to me the European perspective. Why are they supporting a strong Euro?

[PerryChase]

lindi, I love Dwell Magazine! California used to be innovative with the mid-century modern house, the open floor plan and the sliding patio door. Then we gave up the innovation to go retro with Spanish/Mexican revival and Italianate architecture. Our furniture became some strange eccletic style (see Jerome’s furniture). I call that the “Dynasty” effect. Remember the Carringtons?

I’m hoping for simplicity and beauty to prevail over bling.

——-

studenteconomist, i agree with you. Goods that were previously luxuries are now commodities. Often times the only thing that differentiates a commodity from a luxe item is marketing. We owe this to the manufacturing revolution. I can observe that when I travel to poor countries. They too have their houses filled with junk. It will take another century more (if ever) for people’s desires to acquire stuff to subside.

We are now entering a service revolution, with nails, spa, car washers, cable television, internet, cell phones, etc…

A whole lot of people have $250/month cable/internet/phone bills. I have no cable and my Internet is the basic DSL at $12.99. I wouldn’t even have a cell phone if it weren’t work related. Between HOA and other service junk, our generations today pay at least $500/mo more than our parents.

[PerryChase]

I stand corrected, powayseller. We should have free credit counseling and financial management classes at the community colleges.

[PerryChase]

Death to the overstuffed chair.
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