[scruffydog]

At least there are listings in MM.
In the entire community of 92124 there are now ZERO listings.
Anybody care to guess how this madness ends?

[scruffydog]

I’ve used your comment from another forum topic “It’s not your father’s San Diego anymore” when discussing real estate with friends, some who’ve lived in SD for decades. They have an Aha moment and accept the new reality.

[scruffydog]

Good memory! It was fun to post that to get people away from political discussions. Good to see site is less political now.
When Rich reset acct last fall I was shocked it had been 13 years. Back then Powayseller was screaming SELL.
Meh, I was unmotivated to sell props then and bought more after 2008 crash.
# 1 lesson: Timing is everything. And holding period.

[scruffydog]

“Korvall Li in Seattle said he hasn’t seen a rent check since January from a townhouse tenant who makes a six-figure salary. That is a deficit of about $30,000. Mr. Li said he has continued his mortgage payments and is suing the state and city over eviction protections that exceed the federal moratorium”.

“I already decided that I’m not going to be a landlord in the future,” Mr. Li said. “It’s really turned me off the whole real-estate thing.”

https://www.wsj.com/articles/u-s-poised-for-wave-of-evictions-in-january-as-federal-ban-expires-11607855401

I believe the punitive actions against landlords will result in fewer rental housing units being built. I agree with him; who wants to be a landlord now?

[scruffydog]

Does anybody notice that .gov is slowly trying to take away private property rights / negate rental contracts? Why does .gov give billions to big business for covid relief but almost nothing to landlords and then make it almost impossible to evict tenants? Rent control never made any sense to me; restricting return on private investment. If you bought Apple stock for $5 how would you like it if .gov mandated you could only sell it for $10 instead of $150?
Responses to my post are generally “So far I’m not affected so I don’t care”. I believe it will only get more difficult for rental property owners. I wouldn’t enter the rental business now.
Rents popped earlier this year in local areas I track. Looking at Zillow I have noticed recent sfr rent price reductions. Sales are still strong, very little inventory in 92124. Out of control in Canada – median up 54% in London On in 2 yrs. Toronto most overvalued in North America. Crazy times.

[scruffydog]

So entertaining to see the post again! :))
The post did it’s job refocusing the site back to r/e and away from religious / political debate.

[scruffydog]

So entertaining to see the post again! :))
The post did it’s job refocusing the site back to r/e and away from religious / political debate.

[scruffydog]

So entertaining to see the post again! :))
The post did it’s job refocusing the site back to r/e and away from religious / political debate.

[scruffydog]

So entertaining to see the post again! :))
The post did it’s job refocusing the site back to r/e and away from religious / political debate.

[scruffydog]

So entertaining to see the post again! :))
The post did it’s job refocusing the site back to r/e and away from religious / political debate.

[scruffydog]

It would be interesting to know development fee cost in other US areas vs CA.
I recall something like $25-30k San Diego development fees for a typical sfr (old info)

So will prime CA coastal area prices end up like Europe / Mediterranean where property is priced high, rarely sold and is passed down to family generations?

[scruffydog]

It would be interesting to know development fee cost in other US areas vs CA.
I recall something like $25-30k San Diego development fees for a typical sfr (old info)

So will prime CA coastal area prices end up like Europe / Mediterranean where property is priced high, rarely sold and is passed down to family generations?

[scruffydog]

It would be interesting to know development fee cost in other US areas vs CA.
I recall something like $25-30k San Diego development fees for a typical sfr (old info)

So will prime CA coastal area prices end up like Europe / Mediterranean where property is priced high, rarely sold and is passed down to family generations?

[scruffydog]

You’re right!! Chino Hills is on the LA county border. Hard to tell (if you miss the little freeway county border signs) because the area is built up and one community blends into another. San Bernardino county border makes an unusual jog west and includes Chino Hills. Interestingly CH ends up west (and south) of Pomona which is in LA!

The close proximity of CH to LA area is the reason these properties are selling and prices are high.

[scruffydog]

You’re right!! Chino Hills is on the LA county border. Hard to tell (if you miss the little freeway county border signs) because the area is built up and one community blends into another. San Bernardino county border makes an unusual jog west and includes Chino Hills. Interestingly CH ends up west (and south) of Pomona which is in LA!

The close proximity of CH to LA area is the reason these properties are selling and prices are high.

[Author]

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