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I will happily call it a bubble right now. Mark my words as I will link this post in the future. The invisible hand has been stymied and nothing good ever comes from that, unless inflation counteracts it. Anecdotal case in point, my son and his wife have lived with me rent free through the pandemic and have a six figure down payment. Yes they are mid to late 20 somethings with degrees and a low six figure combined income and they cannot buy a starter home in Temecula. The last time this happened it was 2006 and we all know how that turned out. Haircuts are coming, the two freshly minted teachers rule is back in play, when two freshly minted teachers cannot buy a condo the bubble bursts, exhurbs get it first and gt it the worst, I smell Deja Vu! I like my house, just signed contracts for solar and tesla powerwalls, already got a fake lawn so I’m staying put but I’ll pick up a rental or two in the next crash, your results may vary. But thee current valuations are not sustainable.
The house I paid 270 for at the bottom in 2008 is worth 700-800, you have got to be kidding me, 500 maybe.
For the long term, this is a good guide, page 19 is all you need to see. It shows trends as well, the 5 year trend is especially important, only one city trending in the wrong direction, LG.
LG has the highest overall crime rate and the highest violent crime rate of any city in the county. Investments are bets essentially. Betting on the worst team in any sport can pay off but the odds are against you.
plus there’s this
It’s not very in depth, the reader has some more research but it looks like the city will go bankrupt. But then again, the Cleveland Browns could win the Superbowl next year, of course I wouldn’t bet my money on that happening, but some will place that bet. Caveat Emptor.
Thanks SD, I finally overcame my fear, took along time for me to act. But it wasn’t giant amounts, it was thousands and not tens of thousands. Pragmatism is a hard habit to break. Baby steps
If the courts allow counties to set their own timeline when to resume evictions, San Francisco and Santa Monica might wait 6 more months. Landlords not collecting rent and unable to evict will become distressed especially if they have a mortgage on that property. It may present a buying opportunity more so in some counties than others, from an investor point of view. Whichever county or city waits the longest to resume evictions will be less favorable to investors and REITs if the next county over is evicting non payers. It might be the next fire to run into, who knows, those Santa Monica rentals might have a window where they are at a discount, not a crash. Or it may be a disaster and they might like the new “affordable housing” but I think it will be a short window. Then again, I’m not going to get cocky because I got lucky on my recent stock prediction. There will be some shifts, I just haven’t figured them all out. But times like these usually present some opportunities. I’m watching Seattle as a canary in the coal mine for clues.
Search old threads about my advice when taking stock advice here, circa 2008. Fool me once.
After the initial crash in late March/Early April I bought two cruise stocks, 3 airlines and an automaker. All at least half off, some at a far greater discount. Two days ago, after doubling my investment I sold it all, transferred my original investment back to my bank and will play with house money from here on out. Kudos to Warren Buffet’s theory about running into burning buildings. Admittedly I was nervous.
What should make anyone nervous right now is real estate described as “urban”that relies on mass transit and rental properties in jurisdictions described politically as progressive. California’s Judicial Council just kicked zero bail to the counties to decide and evictions/foreclosure moratoriums in cali will likely see the same fate. Landlords will likely be subsidizing this social experiment based on zip codes.
The world is upside down, next you’ll see Zillow factor in the political leanings of a zip code into their valuations. Some of the estimates about renters not paying are astonishing. Some of the terms from 2008 will need to be updated, “shadow inventory” will need to be renamed “blue shadow inventory.” How do I copyright a phrase? This is not a political statement, it’s an investment statement. But I chose to post so I can take full credit when Diana Olick uses that phrase, I’m still her biggest fan and will consider it an honor for her to use it. Anyone else needs permission.
Good luck piggs, investing is just math, leave your feelings out of it.February 12, 2020 at 12:28 AM in reply to: Cholesterol, veganism, global warming, coronavirus, cruelty, 10 day vipassana meditation #814725
Perhaps I am unqualified to challenge any man’s masculinity since I recently installed Japanese toilets in two of my four bathrooms, it’s a matter of time before I convert them all. In my defense I did spend two weeks in Asia last year in a hotel equipped with Toto washlets. The experience ruins ruins you, once you experience that you just cant go back to toilet paper, it seems inhumane.February 12, 2020 at 12:06 AM in reply to: Cholesterol, veganism, global warming, coronavirus, cruelty, 10 day vipassana meditation #814724
So disappointed! The epic virtue signaling has me physically ill. Not sure if it’s my own failing health or having to read about your estrogen levels rising to dangerous levels.
As far as track goes, Sure the kids love it, but the parents are in hell. In other news, the Aztecs pulverized the Lobos tonight. Four games from being undefeated in the regular season and already the MW conference title winners. San Diegans take notice, this is already the best team we’ve ever had in any sport. Enjoy it, support it, we aren’t likely to see this again in any other sport. We are going to be a freaking one seed! The sucky part is that I’m the only one who cares and I’m going to be in Italy, France or Spain during the final four and elite 8, I’m going to have to be awake at 4 am to watch it on my phone. unless I can find a bar in Europe that opens that early and doesn’t broadcast just soccer. I’m not optimistic. I’ve been learning how to say ESPN in multiple languages. It’s wonderful and horrible at the same time, I’ve got to plan my vacations better.
I have to admit, it’s brilliant marketing on the part of the Republicans to move the goal post to the right in the minds of that American public.
From an objective political science standpoint, the whole world has pretty much moved rightward, even the Northern European countries.[/quote]
“Nobody gives a shit” what you think.[/quote]
Both of you are correct, it’s just fun to watch and great for the kids. God help you if they go out for track or cheer. Track always involves meets far away that last 12 hours and since one of my kids was was a sprinter, it is 10 seconds at 8 am, 10 seconds at noon and 10 seconds at 4pm for the various relays and individuals while you are two hours from home and stuck in the stands for 4 hours, it’s like bad layovers at the airport. Don’t get me started on cheer, that’s 4 years and thousands of dollars that never translates into a scholarship to watch the same routines over and over with no score. But we love them and support them no matter what, I just hope yours stick with basketball, so much better for the viewer. If any of your boys or girls make it college hoops send me a message and I’ll go watch with you. I’ll pay my own way and even fly to games with you, it is the best entertainment out there. Mine didn’t make it to that level but I’ll support any kids of piggingtons who do. College hoops is just the best and SDSU might be a 1 seed this year. Here’s the irony, I’m going to Europe at the end of March, I might be over there during the sweet 16 and elite 8, I’ve already got the info on a data plan so I can watch but I cannot attend and it’s killing me.
P.S. same offer applies to NCAA golf, other sports are negotiable. I do think this small fraternity should support each other and i know a few other piggs who would relish the opportunity for road games just for the comraderie.
thanks but no scam worries, bought them from lakers official site, ticketmaster and she is selling through same. We figured anyone dropping that king of coin would only deal direct through the official site.
SDSU won again tonight vs New Mexico at the pit, who had a 5 game home streak going. They didn’t just win, they destroyed them, led 17-0 at the start had them doubled at the half and were up by 30 before pulling the starters. Gary Parish of CBS sports thinks they can win out and win the NCAA title. Here’s the rub, I will be in Italy and Spain during the final four. Shame on me for not factoring in SDSU’s best season when I made travel plans six months ago. I am going to be half a world away when my once in a lifetime event occurs and I won’t be there to witness it. But I’ll take it, I’ll just stay up all night and watch on my phone!
Thread Bump-Aztecs just broke the school record, recording a 21-0 record, last undefeated team in D-1 the country. Predicted to be a #1 seed in March from ESPN and CBS sports.
This is SD chance to win something in a revenue sport for the first time in the most tortured sports city in history.
Go see them, best entertainment in SD.
Now I would be remiss if I didn’t mention Kobe’s death. I bought my daughter tickets to this Fridays Laker game for a Christmas present. She is a Lakers fan because I raised her. She went to all the Kawhi Leopnard games with me at SDSU so it is in her blood. I sprung for near front row lakers seats when the Portland game on Superbowl weekend was a bargain at $450 a seat four months ago. Now it is the first game since Kobe’s death and ticket prices gives her a resale value of 5k a seat. She called today to apologize and get permission to sell them, to add to her down payment on a house fund. Not only did I consent, I almost cried, so proud of my little girl, more so than when she graduated college at the top of her class. Watch it on TV and take the 10k was what she said and who says young people today are stupid, I beg to differ. So proud! The next generation will have Piggingtons.December 27, 2019 at 9:44 PM in reply to: Dishwasher recommendations? Black Friday coming up! #814231
The wife’s 2015 Cadillac had the LCD (Cue) go out and it was replaced under warranty in 2017, In 2019, right after the warranty expires the completely replaced unit went out (they didn’t replace the screen, they replaced the $1600 unit). I replaced it in about two hours using an $80 part and $20 in tools from Amazon. Could have taken 5 minutes if it was engineered differently but had to take it out of the dash and remove about 40 screws, had two left over when I was done so hopefully it lasts. Youtube, Amazon and some entrepreneurs are fighting back against planned obsolescence. At least the Caddy is easy to work on.December 19, 2019 at 11:54 PM in reply to: Dishwasher recommendations? Black Friday coming up! #814190
[quote=The-Shoveler]I like flu’s car posts LOL.[/quote]
I also like FLU’s car posts.December 10, 2019 at 11:50 PM in reply to: Dishwasher recommendations? Black Friday coming up! #814151
FLU is right! I ran my serial number of my kenmore elite HE3T front loader that has 16 years of dedicated service and low and behold, it was built by whirlpool. I wish I could run my Bosch dishwasher and find out it was made by someone other than Bosch, but we can’t have everything. As an owner of a BMW and a Bosch, the analogy is accurate in my experience. I’m not sure I will purchase either brand ever again.