[PerryChase]

I know some people in bikerider’s situation. Actually, they are much worse off than him because at he “saw the light” and got rid of the HELOC.

Getting a HELOC for emergencies?! Yeah, you should save for emergencies.

[PerryChase]

Thanks for the comments on MDR and PDR.

I agree about the not-quite-right, old, haunted feeling of MDR. That’s because many of the buildings have that 1970s feel to them. But I see that it’s changing.

If I relocate to LA, I’ll try my best to stay on the Westside. I need to go up there more frequently and look around. My preference would be for a SFR. For some reason, I’d much rather live in a concrete high-rise than in a low-rise condo complex built out of wood. I’ve been to some wood condo complexes near the ocean and there’s a musty, damp, termite infested smell to them (in San Diego and in LA).

[PerryChase]

speedingbullet, do you think that USA or UK is more class concious? I haven’t figured this out yet.

I feel that in USA, class is a function of money, whereas in UK class is more of function of birth and upbringing.

I noticed that in Europe, rich people drive older, smaller cars but they live in nicer homes, in the best neighborhoods, that have been passed down the generations. Rich Europeans would never think of moving to brand new master planned communities in the suburbs.

Rich Europeans also dress better than Americans. In my view, they have better taste when it comes to fashion and the arts.

Middle-middle and lower-middle Europeans look more ragged than their American counterparts.

Just my observations. I don’t know if I’m correct.

[PerryChase]

I love languages so I enjoyed reading this post. I agree with sdrebear; “expect” does not mean with certainty.

Both their parents have doctorate degrees. I expect John and Jane to receive a great education then go on to successful careers. There’s no certainty of that happening.

[PerryChase]

I agree with asianautica and La Jolla Renter. Rich people flaunt their wealth in different ways (cars, houses, power, women, men, museums, maids, chefs, etc…)

BTW, we don’t have aristocrats in America, at least not the same as in Europe. It’s good enough simply to be rich.

[PerryChase]

One thing that you have to remember about a God such as Jesus, is that he won’t save you unless you believe and pray to him. That’s just how God is.

Buddhism is not a religion but more of a philosophy. Anyone and attain different degrees of enlightenment by developing his or her inner spirituality.

[PerryChase]

I hope that the news of the increased new home sales brings confort to the builders so they continue building. The more they build, the more choices we’ll have later.

[PerryChase]

I don’t expect the option ARM holders to default when the loans reset to a higher interest rates. I expect them to default when the LTV caps are reached AND the notes have to be fully amortized at a higher rate. We’ll see real pain when the payments double. They won’t be able to refinance because the houses won’t appraise and they won’t be able to sell because they’ll be seriously under water. 2008 is when that’ll start to happen.

[PerryChase]

avidsaver, lamoneyguy, what do you think of the Marina Del Rey, Playa Del Rey areas? I like the area but I’ve never lived there. I may consider relocating to that area when the price is right. What do you think of the noise situation near LAX?

[PerryChase]

I can understand the attraction of Florida or Texas, especially for businesses. Personally, I would never move out of Southern California unless it were to move to New York City .

[PerryChase]

Well said LookoutBelow. Of the 1.46 million loans are risk, many none will default, maybe all will default; we just don’t know. I beleive it’s a worthwhile exercise to see what would happen if all defaulted.

[PerryChase]

Humm…, sdrealtor, I know that a large portion of the San Diego economy is military dependent. You make a good point about the boys coming home from Iraq needing a place to live. I wonder when that might be….

jd, good job on all the real estate analysis. I don’t agree with you on God and Iraq, but I’m with you on real estate.

[PerryChase]

On the point of powayseller not presenting original information, my response is that NO ONE, not even the professional forecasters, develops all original data. They all use some information developed by others then develop their own arguments about what that information means.

[PerryChase]

Generally good advice all around.

JES, I disagree with you on Iraq and religion; but from your posts, I think that you’re alright. I wish you success in your endeavors.

[PerryChase]

For the Bush Administration to equate the war on Iraq to fighting Nazi Germany is a pure sign of desperation. If it’s that important, where the sacrifices that need to be asked of the American people? Iraq is, like a Vietnam, a war of choice that’s gone awry.

Hope as they may, this time, there’s no silent majority supporting the Administration. The American public has already decided that Iraq is a mistake.

We have two more months to go until the mid-term elections. Let’s see what the public decides at that time.

[Author]

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