[The-Shoveler]

From my limited observation, distressed sales are moving extremely quickly just about everywhere in SoCal,

With the possible exception of short sales but that is not being caused by lack of buyer interest.
Just the SS process itself.

[The-Shoveler]

[quote=DaCounselor]What spdrun said, actually. Doesn’t Fannie have 1.7 million homes that are 90+ days delinquent?? What is Fannie, about 50% of the market? So if all the other junk paper out there is equivalent to Fannie’s then we are looking at about 3.4 million homes that are 90+ days. That’s a few homes.[/quote]

Yep probably, But my guess there are a lot less of them in good school districts near QCOM.

[The-Shoveler]

Is it in a good school district near QCOM ?

Yea it’s probably near peak pricing again.

Is it near or in TV

Yea its probably still 25%-30% off peak.

There’s a big difference in locations.

BTW Seems Mc-Mansion’s are back in style if you got the bucks (I don’t think they really went out of style, it was just the media or whatever trying to influence buyers to fit their agenda IMO).

[The-Shoveler]

I think abnormally low rates are going to be around a good while yet IMO.

Besides all the recent talk of ending QE, I don’t see it happening unless or until we see wage inflation occur.

In Absence of inflation I don’t see how they will be able to pull it off.

[The-Shoveler]

[quote=CA renter][quote=JohnAlt91941]

So who will be buying the homes that aren’t “lesser in size, in a lesser location or in lesser condition or all three”?

I say the same type folks that are buying them now, only the principle (price) will be lower to meet the lower borrowing levels (demand). People aren’t getting more house now due to lower interest rates, only more debt.

The sellers will be the ones sucking it up.[/quote]

Bingo!!!

Not sure why some people still can’t grasp the relationship between easy/cheap credit and price. Housing prices are not set by yesterday’s buyers, they are set by tomorrow’s buyers. If future buyers have access to less credit than today’s buyers, then prices will go down.[/quote]

And that will put us, maybe back in 2009 with cities going BK left and right and unemployment around 10%.

[The-Shoveler]

OK not saying your not right,

But If the fed raises rates, and the housing market crashes (Again), will that not mess up the banks once more, not to mention the economy and local municipalities coffers?

It’s kind of like “coffin corner” if you are familiar with aeronautical terms.

No easy way out!!!

Interesting times.

[The-Shoveler]

[quote=Allan from Fallbrook]Anyone gonna bring up the $9.4 billion in unfunded pension liability?[/quote]

No fan of Villaraigosa but the city was on its way to big trouble long before he got in office, he just got there in time to put some blame on.

$9.4 Billion for a city with a total revenue of about 3 billion is daunting enough but that is assuming 7.5% or so return, if you do the numbers with a more realistic long term return of a little less than 4-5% Then you are looking at about $26 billion short fall.

Trying to pay that down with a $3 billion revenue (when times are good!!!) is just not really feasible,
They better hope there is no recession or housing bust (that would impact revenue) in the next 20 years or so !!!

More businesses leave L.A. every day, I have not heard of any returning.

Oh yea, sales tax is about 10% in L.A. county.

[The-Shoveler]

OK let say the fed takes the foot off the gas,

Who is going to tell china and Japan to do the same ?

China Accounts For Nearly Half Of World’s New Money Supply.

Japan is trying to beat them.

I don’t see the foot coming off the gas anytime soon!!

[The-Shoveler]

these aren’t the droids you’re looking for,

you really need a new car.

you should get a nicer home than you buddy has.

You must live here or you’re just not cool enough and your kids will be deprived.

[The-Shoveler]

One or two notes!!

If you got Coyotes in the hood, best not to let small children play unsupervised or without a large adult near them.

I have heard of them grabbing small dogs from frail looking adults hands.

If they think they can take advantage or have the advantage (well don’t trust them).

[The-Shoveler]

[quote=Navydoc]Saw a coyote biking on Beeler Canyon this morning. About 2 weeks ago was biking back home in the afternoon passed to within 15 feet of one. I had always thought of coyotes as being slightly bigger than foxes. Thought the one I saw back then was a wolf. Damn thing was HUGE, probaly 70-80 lbs. I rolled over to the other side of the street before tackling the climb on the fire access road. I have never worried about my golden retriever’s ability to handle himself against a coyote, but now I’m not so sure.

Can’t wait to finish those side walls to keep those buggers out![/quote]

I have seen Rottweilers taken out by coyotes.

But In the same neighborhood my stupid Lab ran up to them wanting to play and they left him alone, go figure.

[The-Shoveler]

But it’s so totally worth it to drive 10 miles out of your way to save 5 cents a gallon 🙂
Just kidding.

[The-Shoveler]

Well OK, the raw number of Hi-Tech jobs in the IE is still small yet, and mostly start-up’s.

But the growth has been accelerating over the last 10 years.

It still has a ways to go but its growing fast.

TV still reminds me of Valencia, I would expect a repeat.

It’s not Irvine (Valencia) but it’s not too far from it.

[The-Shoveler]

Whatever

Inland Empire second fastest in growing high-tech jobs in US

http://www.caeconomy.org/reporting/entry/inland-empire-second-fastest-in-growing-high-tech-jobs-in-us

[The-Shoveler]

This is a better link BG,

Forbes
The Best Cities For Technology Jobs

http://www.forbes.com/sites/joelkotkin/2011/11/18/the-best-cities-for-technology-jobs/

Things change fast,

Bedroom commuter towns quickly become Job centers in the High Tech world.

You learn a few things watching a city grow from 20K to 300K in population.

[Author]

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