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sdrealtor
Participant[quote=svelte][quote=an]
I agree with everything except for:
[quote=svelte]
I’d rather go back to being sleepy San Diego myself.[/quote]
I like where we’re heading and don’t mind just being the next Silion Valley. Maybe BioTech Valley?[/quote]BioTech Valley is probably more accurate.
I have read that biotech expansion is pushing computer tech north to RB and Carlsbad.
So maybe both?[/quote]
Makes a lot of sense. Tech can go anywhere and there is lots of nice housing and good schools up this way. Life sciences needs lab space of which there is lots more in Golden Triangle area plus access to labs at UCSD, Salk, teaching hospitals etc. I think our future is more tied to life sciences than tech.
ParticipantUnsuprisingly no sign of ol whats his name
ParticipantI know that spot well. Have been playing the golf course in the canyon where it started for many years and have some friends up there fortunately spared
ParticipantAgree with every bit of that
ParticipantCouldnt even imagine ingesting something that sickly sweet. Must be for the Meomi crowd. In real news, the inflation of wine has been insane. Grand Cru Burgundy is basically unobtainable for mortals. Trades in the thousands. First and Super second growth Bordeaux has long been high. Top tier Napa Cab inflation is nuts with the top dogs cresting $1000. What was $50 a decade ago zoomed past $100 long ago and most high quality bottles are now $200 – 500. Dont even get me started on Bourbon. A bottle I bought 5 years ago for $300 is now $5000+. The inflation there supercedes SD housing inflation. Anything that is deflating can be mass produced by industrial means and may not be fit for human consumption
The only thing cherry I have use for are Luxardos for my Old Fashioneds
Participant[quote=deadzone][quote=sdrealtor]
lol what you don’t understand is who the flippers are. Sure there are some small time mom and pops but I would say that well over 80% off flips are by well funded high net worth organizations. You want to believe it’s some highly leveraged greedy guy but that’s just not reality. I deal with these Flipper groups and I’m contacted by a few every single day . they are anything but poorly capitalized. And even many of the small Time guys who’ve done 3 to 5 a year for the last 5+ years are sitting on a few million dollars of cash profit. You really have no idea how this works[/quote]LOL, you have no fucking clue how “well-funded” these flipping organizations are, so stop making shit up.
Anyway, it will be evident soon enough. Just keep bookmarking this thread, it will be fun to revisit this in 6-12 months.[/quote]Uh but i do. I can also go back and look how many millions they made in profit. They are playing with house money. I’ve got a friend that’s small time. He works for a wealthy guy. Has for 10 years. He makes him $1-3 million a year. He’s got $5m cash the guy gave him to fund whatever he wants and he rarely uses more than half that. he’s small time. Only does 7-10 a year. The big guys are doing 10-20 a month some more in SoCal
Participant[quote=deadzone][quote=sdrealtor][quote=deadzone][quote=Coronita]
Also, most of the people that will get crushed are the novice gamblers of meme stock and crypto that was hoping for that one hit one wonder get rich quick trade….[/quote]
And yes I am rooting for these douchebags to get destroyed. But this goes way beyond just meme stock and crypto investors. It goes heavily into real estate investors, flippers, etc. Same get rich quick douchebags. Funny how you guys are quick to criticize these investors when it comes to crypto, yet you have no issue with those flipping and manipulating RE. Perhaps as a RE investor yourself, you are happy that their actions are raising your net worth. Pretty selfish but typical. Well get ready because the RE investor/flippers are about to get destroyed too, the Tech/Crypto crash is just stage 1.[/quote]
And you dont understand flippers either. The ones really doing it have built up so much capital they are playing with house money now. Even if a property were to drop 20 to 30% while they were holding it would barely be a blip on the radar. Houses dont go to zero dumbass[/quote]
You apparently don’t understand leverage, or the concept of margin calls. Many of these “all cash buyers” are actually borrowing the money using their existing house(s) and/or stock portfolio as collateral. A 20-30% drop in RE will be devastating to many investors. The 30% drop in Nasdaq is going to have serious side effects in RE market too. Plus the bursting of the tech bubble in gneral. Twitter and Meta already announcing hiring freezes, which is really the first step towards layoffs. Within a few months there will be hiring freezes and layoffs throughout the industry.[/quote]
lol what you don’t understand is who the flippers are. Sure there are some small time mom and pops but I would say that well over 80% off flips are by well funded high net worth organizations. You want to believe it’s some highly leveraged greedy guy but that’s just not reality. I deal with these Flipper groups and I’m contacted by a few every single day . they are anything but poorly capitalized. And even many of the small Time guys who’ve done 3 to 5 a year for the last 5+ years are sitting on a few million dollars of cash profit. You really have no idea how this works
Participant[quote=deadzone][quote=sdrealtor][quote=deadzone][quote=sdrealtor] How much satisfaction are you going to get if hardworking families who just wanted homes for their families lose their asses because that is who would get hit hardest?
[/quote]How about all the millions of “Hardworking families” that currently cannot afford a home or the entire generation of young people who have little to no chance of ever buying a home for themselves as a result of the extreme distortion of housing prices and high inflation caused by the Fed. You don’t have a problem with that? All you care about is the “haves”, you could care less about the “have nots”.[/quote]
I care about the greater good which is yet another thing you do not understand. ABout 70% of households own homes in this country. The millions of hardworking families that dont own are for the most part the renter class and never will by choice or by inability to manage money and make good decisions. But thats not everyone, there are the cowards like you also[/quote]
Actually it is less than 70% overall, and closer to 50% in CA. But whatever, we see where you stand. Fuck the other 35 some odd percent. They are too stupid to manage their money, so they don’t deserve to own a house. It has nothing to do with housing prices being unnaturally distorted due to misguided Fed policies.[/quote]
Here you go again revealing your true self. CA home ownership is not relevant to what fed does they act the whole country and it’s close to 70%. Most of the remaining 30% will never own homes for a variety of reasons some choice, some fault and some inability. But then there’s guys like you that failed and want to be bailed out. You’ve shown your attitude to be screw the vast majority, give me mine what i wasn’t capable of getting myself when it was easy to do so. This isn’t about others, it’s about selfish bitter envious you
Participantsure Ive got nothing to hide. Id just ask that it be done on a separate thread
Participant[quote=deadzone][quote=sdrealtor][quote=deadzone][quote=sdrealtor] How much satisfaction are you going to get if hardworking families who just wanted homes for their families lose their asses because that is who would get hit hardest?
[/quote]If these “hardworking families” over levered themselves to purchase an overpriced house with a mountain of debt, then they took the risk on themselves. But in reality, getting foreclosed on just means they can live rent free for 2+ years, just like the last crash. It’s not the end of the world by any means.[/quote]
I know it’s a foreign concept to you but some people have integrity. Actually a lot of people. That describes most of the people in my life and they simply don’t just walk away from debts that they promised to repay. Their word means something to them as it does to me. I would never walk away from a debt, it’s in my DNA not to. It’sobvious you are filled with bitterness, envy and hatred. For most people real estate has nothing to do with an investment but rather a home for their families. A nice safe place to live and raise their family. They don’t buy homes to get rich. Most people are welcome in my home even those i disagree with as long as they have integrity and are kind of heart. That doesn’t include vindictive bitter folks and i hope in real life you actually have some integrity Edgar[/quote]
Whatever you say Clem. But you would be a dumbass not to walk away from your house if you were underwater and unable to pay. It’s the banks responsibility to deal with that. Nothing illegal, or immoral, or unethical about it. Simply business[/quote]
Kinda like some dumbass here who was the only one stupid enough not to spot the opportunity of a lifetime? The only one! Yeah I know that kind of dumbass
Participant[quote=deadzone][quote=sdrealtor] How much satisfaction are you going to get if hardworking families who just wanted homes for their families lose their asses because that is who would get hit hardest?
[/quote]How about all the millions of “Hardworking families” that currently cannot afford a home or the entire generation of young people who have little to no chance of ever buying a home for themselves as a result of the extreme distortion of housing prices and high inflation caused by the Fed. You don’t have a problem with that? All you care about is the “haves”, you could care less about the “have nots”.[/quote]
I care about the greater good which is yet another thing you do not understand. ABout 70% of households own homes in this country. The millions of hardworking families that dont own are for the most part the renter class and never will by choice or by inability to manage money and make good decisions. But thats not everyone, there are the cowards like you also
Participant[quote=deadzone][quote=Coronita]
Also, most of the people that will get crushed are the novice gamblers of meme stock and crypto that was hoping for that one hit one wonder get rich quick trade….[/quote]
And yes I am rooting for these douchebags to get destroyed. But this goes way beyond just meme stock and crypto investors. It goes heavily into real estate investors, flippers, etc. Same get rich quick douchebags. Funny how you guys are quick to criticize these investors when it comes to crypto, yet you have no issue with those flipping and manipulating RE. Perhaps as a RE investor yourself, you are happy that their actions are raising your net worth. Pretty selfish but typical. Well get ready because the RE investor/flippers are about to get destroyed too, the Tech/Crypto crash is just stage 1.[/quote]
And you dont understand flippers either. The ones really doing it have built up so much capital they are playing with house money now. Even if a property were to drop 20 to 30% while they were holding it would barely be a blip on the radar. Houses dont go to zero dumbass
Participant[quote=deadzone][quote=sdrealtor] How much satisfaction are you going to get if hardworking families who just wanted homes for their families lose their asses because that is who would get hit hardest?
[/quote]If these “hardworking families” over levered themselves to purchase an overpriced house with a mountain of debt, then they took the risk on themselves. But in reality, getting foreclosed on just means they can live rent free for 2+ years, just like the last crash. It’s not the end of the world by any means.[/quote]
I know it’s a foreign concept to you but some people have integrity. Actually a lot of people. That describes most of the people in my life and they simply don’t just walk away from debts that they promised to repay. Their word means something to them as it does to me. I would never walk away from a debt, it’s in my DNA not to. It’sobvious you are filled with bitterness, envy and hatred. For most people real estate has nothing to do with an investment but rather a home for their families. A nice safe place to live and raise their family. They don’t buy homes to get rich. Most people are welcome in my home even those i disagree with as long as they have integrity and are kind of heart. That doesn’t include vindictive bitter folks and i hope in real life you actually have some integrity Edgar
Participant[quote=deadzone][quote=an]Yep. It was the middle class that was hurt the most in the last crash. It was the wealthy that benefited the most from the last bounce back. I expect the same this time around.[/quote]
The wealthy class were being destroyed in the last crash until the Fed and Paulsen, run by Wall St. Bankers, came to the rescue with endless bailouts and QE under the propaganda of “averting depression” and “too big to fail”. Obviously this is likely to happen again.[/quote]
I grew up around a lot of the wealthy class and they still include many of my closest friends. The last crash had minimal impact on their lives. Their kids that went to expensive private schools, they always had new expensive cars, took regular vacations, ate at the finest restaurants and golfed regularly at multiple country clubs they are members of. When things bounce back they only made more money. Yet another thing you don’t understand how it works
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