[socrattt]

I hope you are joking. If you have a tract home east of the 5 chances are you are in a dream world with everyone else that over inflates their home prices by 20%. I think closer to the 15 they seem to have sellers hoping for more like a 30% kick above reality.

[socrattt]

Jeeman, Just to clarify at 5% a year x 2 years equals $200K.

[socrattt]

Is this what America has come to? A man in his 50’s complaining that he rents a nice house, which I highly doubt is a POS if it is listed at $1mil. Granted it may not be a mansion, but chances are suffering with $2million in the bank isn’t that tough.

If he could only empathize with the younger generation who have to walk away from their homes because the banks were smart enough to lend money to a human with a heartbeat.

I rent an incredible home for $2,600/month. I don’t pay for the gardener, the pool cleaner or anything that breaks in the home. There are benefits to being a renter and these are just a few. I guess if you had to the weigh the option of losing $100K+/- (could be much more depending on the value of your home) on a home or suffering in a rental while the market runs it’s course, I would have to pick the latter.

If you want to see how tough life can really be traveling 1 hour south to your local Mexican pub and strike up a conversation. We got it so good in this country you don’t even know. This collapse is part of many cycles that have to occur to make this world go round.

[socrattt]

The truth about PB is it is a dump and until the city decides to start pulling liquor licenses from bars, that little quaint place that used to have potential in the mid 90’s will only go down in flames with the rest of the market. My guess is PB will be one of the worst hit costal markets from Pt. Loma to Carlsbad. The crime in PB is terrible, the traffic is a mess and if you don’t witness something completely out of the ordinary on a drive down Garnet consider yourself blessed.

Those qualifying for homes in PB are a younger crowd many who in the past few years were able to afford a $700K-$1mil with little down on 3-5 year arms. As these loans reset most will need to foreclose. I do agree PB is a great little costal community, especially when the city actually stepped up and took care of it, but as this market exploded so did the little town of PB. The partiers who love that town will eventually leave because they won’t be able to afford it. Survival of the fittest for renters.

[socrattt]

The truth about PB is it is a dump and until the city decides to start pulling liquor licenses from bars, that little quaint place that used to have potential in the mid 90’s will only go down in flames with the rest of the market. My guess is PB will be one of the worst hit costal markets from Pt. Loma to Carlsbad. The crime in PB is terrible, the traffic is a mess and if you don’t witness something completely out of the ordinary on a drive down Garnet consider yourself blessed.

Those qualifying for homes in PB are a younger crowd many who in the past few years were able to afford a $700K-$1mil with little down on 3-5 year arms. As these loans reset most will need to foreclose. I do agree PB is a great little costal community, especially when the city actually stepped up and took care of it, but as this market exploded so did the little town of PB. The partiers who love that town will eventually leave because they won’t be able to afford it. Survival of the fittest for renters.

[socrattt]

The truth about PB is it is a dump and until the city decides to start pulling liquor licenses from bars, that little quaint place that used to have potential in the mid 90’s will only go down in flames with the rest of the market. My guess is PB will be one of the worst hit costal markets from Pt. Loma to Carlsbad. The crime in PB is terrible, the traffic is a mess and if you don’t witness something completely out of the ordinary on a drive down Garnet consider yourself blessed.

Those qualifying for homes in PB are a younger crowd many who in the past few years were able to afford a $700K-$1mil with little down on 3-5 year arms. As these loans reset most will need to foreclose. I do agree PB is a great little costal community, especially when the city actually stepped up and took care of it, but as this market exploded so did the little town of PB. The partiers who love that town will eventually leave because they won’t be able to afford it. Survival of the fittest for renters.

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