[The-Shoveler]

About those Overbuilt inland area colleges,

You would be surprised , Riverside ranks number 6 in
“Top 10 Happiest Cities for Young Professionals”
Just behind SD, interestingly L.A. is nowhere on the list,

http://wamu.org/news/13/05/02/dc_ranks_as_third_happiest_city_for_young_professionals

Top 10 Happiest Cities for Young Professionals
Rank City Score
1 San Jose, Calif. 3.94
2 San Francisco, Calif. 3.93
3 Washington, DC 3.85
4 Chicago, Ill. 3.85
5 San Diego, Calif. 3.85
6 Riverside, Calif. 3.84
7 Philadelphia, Pa. 3.84
8 Houston, Texas 3.83
9 Phoenix, Ariz. 3.83
10 Boston, Mass. 3.83

Not saying this has anything to do with it, but there has been a large pool of Asian population move near the UC riverside college in the last 10 or so years.

[The-Shoveler]

During the Tech bubble 1995-2001 I remember there being a lot of corporate boondoggles to these fancy resorts.
Also If there was a technical issue on a customer site they would not think twice about booking you on the next flight out (full fair), flying was a lot simpler and a lot more fun back then as well. (now days it’s all done with web meetings etc…).

now days if you go they stick you on a overcrowded bus-plane where you fight not to get stuck in the middle seat.

I guess that’s the issue these days.

[The-Shoveler]

When I was there last (it’s been a few years now),
That was hands down the best location and most classy resort on the Island.

Seems like a steal for 200 million.

If I could find a way to buy that place I would in a heartbeat.

[The-Shoveler]

Well here is a new one on the market,

Anyone know where I could get 200 million in financing ?

Lehman Brothers Holdings has put the Ritz-Carlton, Kapalua Resort, a 54-acre luxury condo and hotel resort in Maui, Hawaii, on the block as it continues to sell off its real estate holdings to pay off creditors, said two sources familiar with the deal.
The sale is expected to fetch more than $200 million, said one source who was not authorized to speak on the record.
The property consists of 297 hotel rooms and 107 condominium units, of which 73 are unsold. It also has indoor and outdoor meeting spaces, a spa, a three-tiered pool, a tennis center, six restaurants, bars and lounges, and access to shopping and golf.

[The-Shoveler]

Just my 2 cents, I think the closer the home(s) in question are to QCOM the faster they sell (got no hard evidence for that however, just looking at what’s going on).

QCOM Market cap now exceeds Cisco’s that huge !! (and growing maybe 20-30% a year?)

Cisco is an enormous company BTW I know people working for Cisco in almost every state.

But with Intel’s new chip… Can QCOM keep the mojo going ?
(Personally I hope so but we will see).
Everything is local in RE.

[The-Shoveler]

Not to be out done,

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

http://www.zerohedge.com/news/2013-02-08/china-accounts-nearly-half-worlds-new-money-supply

http://www.businessinsider.com/china-worlds-fastest-printing-press-2011-1

Add the ECB’s efforts and DANG!!! that a lot of moolah!!

[The-Shoveler]

I am thinking that it is just BECAUSE of Europe circling the drain, and all the other bad stuff that the DOW will keep going (IMO anyway).

It keeps the Fed printing 85 or so billion a month or so.

Then there is Japan trying to out print the fed and that is chasing money into our markets as well.

Interesting times, have no clue what the end game looks like.

[The-Shoveler]

Quick, Tell the Gov to start mailing checks to everyone like Bush-II did.

Besides the fridge I bought with the last one is acting up and needs to be replaced.

[The-Shoveler]

I don’t think we will see another crash in the housing market unless there is another economic catastrophe (not caused by housing this time).

Which actually I think there is a fair chance of occurring, but the fed will do “EVERYTHING IN ITS POWER TO PREVENT” such a thing from occurring in the near future (Because it “the Gov” cannot afford another one right now).

Interesting times, the game is afoot (just look at Japan).

[The-Shoveler]

Just my two cents but the only things I have seen crazier than the 2004-6 bubble era home loans are the current student loans.
I have seen people come out of college with 100K debt to become cooks (well OK chefs) and hotel clerks.
Really hard for me to imagine people paying down these loans in those professions without some serious inflation at some point.

I would think this will have the most impact on birth-rates into the future IMO. (not sure about housing, I would think it would just mean they will build a little less).

[The-Shoveler]

Yep that particular area is really bad from Santa Monica to downtown and LAX, yep the 10 and 405, really really bad.

Most the rest is not nearly so bad.

Very few people actually work downtown, that’s mostly the city workers,

In L.A. most people work in the burbs,

So you end up driving from say Simi Valley to Agoura hills, or from westlake to Valencia, and visa versa
Maybe Pasadena to Encino, these are the typical commutes that people end up with when they first started out 15 minutes away,

[The-Shoveler]

HA!!

Another urban legend (well there are some places it really really bad),
But there are a lot of wide side streets and secret by-passes that can really save you time.
It’s not as bad as the legend portrays.
I think around the CV area and down the I5 from north county in the morning it’s just as bad if not worse (but I have only driven there a few times during traffic I will admit).

That’s why I never go to San Diego airport from North county in the morning, it’s really bad every time I tried it.

around LAX, if you know when to get on PCH or Sepulveda bl, that will really save you from the 405 traffic at times, but really it’s not as bad as people make it out.

[The-Shoveler]

“Since good jobs are almost everywhere in LA County, this requirement can likely be met ”

Not so much,

you’re starting an urban legend I think.
Especially for defense and high tech, they are spread out fairly well.

Entertainment is mostly in one general area however but even then you can easily find yourself driving sometimes 100’s of miles to get to the shoot.

Also a lot of times the High Tech company, started as as small company next to the Rich guy’s home who started it, you’er average worker engineer needs to drive unless he wants to live in a condo (mostly what he can afford there and these can run 500K-700K for a 2 bed 2 bath in some area’s in L.A.)

[The-Shoveler]

In defense of the commuters, people who have worked in L.A. for any length of time., an Hour commute is just on the long side of normal, 40 minutes is average).

Like I said you buy your first home 15 minutes from work, 5 years later you’re driving an hour to get to your next gig, it’s fairly normal there (unless you want to buy another home every five years, some do).

I actually drive to Santa Ana airport (from north county), it’s a little further mile wise but the drive is much nicer than going down to San Diego airport.

L.A. is not a bad place to live actually (most won’t admit that) but most of my friends I grew up with moved out only to move back and plan to retire there.

(there are places I would not drive even during the daytime however)

[The-Shoveler]

Funny I was in San Jose two weeks ago and my colleague was telling me that BlackStone was buying SFH on the open market in the area (Sunnyvale, san Jose, mountain view etc…) (there virtually are no distress sales there these days).

I thought that’s crazy, also I can tell you the start-up’s up there are going ballistic. I am seeing guy’s in their 50’s and working for large companies who have been there 10-15 years leave for start-up’s.
It’s crazy.

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