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PerryChase
ParticipantDo you think that downtown SD is bad? I think that SD is due 6000 more condos.
Look at Miami.
http://abcnews.go.com/Nightline/Story?id=3362215&page=1
The situation in Miami is also a classic case of oversupply. From 1995-2005, 10,000 new condo units were built in Miami, and in the next two years another 20,000 units will be completed.
ParticipantDaCounselor, that article was from 2005. I wonder how Mr. Dan Hall is doing as an investor. Maybe he’s still OK.
Perhaps, OCrenter will do an expose on how he’s doing now, and track him into the future. Or perhaps the UT will give us a follow up? Fat chance on that one!
ParticipantDaCounselor, that article was from 2005. I wonder how Mr. Dan Hall is doing as an investor. Maybe he’s still OK.
Perhaps, OCrenter will do an expose on how he’s doing now, and track him into the future. Or perhaps the UT will give us a follow up? Fat chance on that one!
ParticipantI posted the video link because I thought it was interesting. While the video has a conspiracy theory bias to it, it’s pretty accurate.
However, private wealth creation is the very feature of Capitalism. When wealth is created, we need a way to monetize it, so we can’t have the government controlling the money supply.
Say the money was restricted by the government, and you wanted to sell your house at a $250k profit. Where is that “new” money going to come from? Without the ability to monetize wealth, we’d soon find an alternative like the house for $200k (finite money) plus a herd of sheep.
As imperfect the system we have, it’s the best anyone has been able to come up with.
I believe there are 3 mains issues:
1) Fiat money.
2) Legal tender laws that force us to accept the fiat money.
3) Money/wealth creation. Without money creation, we wouldn’t have a stock market. Like love, money is whatever you think it is. And no money, no honey. 😉
ParticipantI posted the video link because I thought it was interesting. While the video has a conspiracy theory bias to it, it’s pretty accurate.
However, private wealth creation is the very feature of Capitalism. When wealth is created, we need a way to monetize it, so we can’t have the government controlling the money supply.
Say the money was restricted by the government, and you wanted to sell your house at a $250k profit. Where is that “new” money going to come from? Without the ability to monetize wealth, we’d soon find an alternative like the house for $200k (finite money) plus a herd of sheep.
As imperfect the system we have, it’s the best anyone has been able to come up with.
I believe there are 3 mains issues:
1) Fiat money.
2) Legal tender laws that force us to accept the fiat money.
3) Money/wealth creation. Without money creation, we wouldn’t have a stock market. Like love, money is whatever you think it is. And no money, no honey. 😉
ParticipantI’m patiently watching the implosion of the downtown market. I have relatives waiting to buy but nowhere near pulling the trigger yet.
If we’re looking at these kinds of losses early in the downturn, imagine what the trough will bring!! I’m expecting a basic apartment/condo 1/1 to go for $150k; and 2/2 units for $250k. Premiums units with views will be more.
ParticipantI’m patiently watching the implosion of the downtown market. I have relatives waiting to buy but nowhere near pulling the trigger yet.
If we’re looking at these kinds of losses early in the downturn, imagine what the trough will bring!! I’m expecting a basic apartment/condo 1/1 to go for $150k; and 2/2 units for $250k. Premiums units with views will be more.
ParticipantRustico, it’ll let you debate this topic.
I don’t have much interest in convincing the ideologues.
ParticipantRustico, it’ll let you debate this topic.
I don’t have much interest in convincing the ideologues.
ParticipantNever give financial or love advice. They’ll blame you however it turns out.
If I were him I’d bail. I’ve never heard of anyone receiving a 1099-C for debt cancellation following a foreclosure because it’s not debt cancellation since he’s giving up his downpayment and his collateral.
ParticipantNever give financial or love advice. They’ll blame you however it turns out.
If I were him I’d bail. I’ve never heard of anyone receiving a 1099-C for debt cancellation following a foreclosure because it’s not debt cancellation since he’s giving up his downpayment and his collateral.
ParticipantI’m kind of indifferent to alley houses. But I do like courtyard houses with central courtyards that are part of the home. You have the courtyard that can be “lived-in.” That’s very appropriate for Southern California and part Spanish/Mexican/Moorish heritage.
I concur with the need to eliminate the green lawn and replace it with hardscape and xeriscape.
ParticipantI’m kind of indifferent to alley houses. But I do like courtyard houses with central courtyards that are part of the home. You have the courtyard that can be “lived-in.” That’s very appropriate for Southern California and part Spanish/Mexican/Moorish heritage.
I concur with the need to eliminate the green lawn and replace it with hardscape and xeriscape.
ParticipantVery good points LA_renter. And sure, the REIC will use this latest population report to advance its agenda.
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gold_dredger, there’s no guilt and no hate at all here. If I’m around a bunch of Spanish speakers and I want to understand then I go to school rather than bitch about it.
The hate is coming from those who are ignorant and lazy, and who won’t make the effort to learn.
The constitution equally protects old-timers and new-comers. And English is not constitutionally guaranteed. If a large portion of the population chooses to speak Spanish, then so be it.
It’s better to learn and adapt, or move. You only hurt yourself when you resent others.
My friend in a Naval Officer coordinating military exercises in South Korea. They complained that the Korean military should provide more translators. The response was “you’re welcomed to bring your own.” My friend thought about it and agreed. Either bring our own translators or learn Korean because the Koreans they work with don’t seem to have a problem speaking English.
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