[The-Shoveler]

My mother lives in a guarded gate community (golf courses pools, community center the whole shebang), you would be surprised, they have still had a few robberies, you would think if you can pay the HOA then you would not be robbing people but it seems that is not the case as most were internal residents (at least the few they caught), then you have the gardeners etc..

Well At least they drive around 24-7 and they will call 911 if they see you passed out somewhere on the ground, also if you cannot get a hold of someone they will go knock on doors so I guess they are not totally worthless.

[The-Shoveler]

Hey flu
Here is one JTR came up with, has 6 car garage not bad for a high end area.
1000/mo HOA is a little steep however.

Alarming

[The-Shoveler]

Yes I think it was at least anticipated, and yes they knew what was going to happen,

(you can’t ask me what I am going to do with the money and you can’t prosecute me) I think those were the words used when this whole thing started to unravel.

[The-Shoveler]

[quote=spdrun]

As has been said, if you think the Obama recovery sucked, just wait until the Obama crash hits.

An artificially inflated stock market does not a “recovery” make — the recovery never happened for the average American schmuck. Not while labor force participation rates are at 63-and-change per cent, pretty much record lows for the last 10 years.

Yeah, a lot of institutional buyers and wealthy people have money and are taking advantage of the relative cheapness of real estate, but what’s new?[/quote]

The Japanese are officially setting Stock and real-estate targets, (Oh yea Stock market is not manipulated we all know it’s a free and open market LOL)

What we all know but choose not to admit.
We all know the Gov. (especially local Gov.’s) are directly affected by Stock and real-estate prices.
Their pensions are at stake for crying out loud!!!
I don’t think they will allow a significant downturn for a while yet, they can’t afford it.

JMHO

[The-Shoveler]

China’s $3.8 Trillion Hemorrhage

To put this into perspective, China’s ownership of U.S Debt is about $1.2 trillion

Over the past decade, about $3.8 trillion has left China illicitly. The trend, if you’ll recall yesterday’s discussion, is accelerating. Somewhere around $50 billion per month is flooding out of China.

And

The amount of money flowing in from global markets is incredibly strong. To be more specific buyers from China are big players in many prime areas especially in California. Access to high quality universities and prime neighborhoods is simply another factor that will keep prices inflated more than people may think. Canadians have firsthand experience in this global real estate market push. If you think our real estate bubble was amazing you simply have no idea what is going on in China at the current moment. This past weekend, the Hong Kong government put on a 15 percent tax on property purchases made by foreigners. There is no question that the market is overheating and the government is readily admitting it and even going to these extremes. Put this into perspective with US real estate in 2007 when the Fed was still reticent to admit that we were experiencing a heated real estate market. At this point it is too late and places where this hot money is flowing like a few Canadian cities will feel a pull back once the current trend stalls or even reverses.

[The-Shoveler]

Yep, from what I understand the rich are fleeing China as fast as they can (suit cases full of money),

I tell you they are printing a lot of money there, I would not want to be investing in Yuan myself, but what the heck do I know.

[The-Shoveler]

[quote=spdrun]What about encouraging developers to build denser infill in desirable areas, rather than sprawling out into Lizardia? 4-6 story multi, not NYC type highrises! Might even be able to sell people on the views.[/quote]

Not in the SoCal DNA,

Next you will be suggesting we build a good mass-transit system.

[The-Shoveler]

Sprawl, it’s unavoidable,

[The-Shoveler]

To sum it up,

THERE IS NOT ENOUGH PEOPLE LEAVING!!!
You PEOPLE GO AREADY !!!

[The-Shoveler]

250K From December 2012

That is still almost TWO Temecula valleys.

California’s population grew to 37.8 million—a quarter of a million more people than the year before. That’s based on official population projections out Thursday from the state’s Department of Finance. The gain of less than one percent gainrepresents modest growth for a state that was growing at more than 1 percent a year—before the recession.

Los Angeles, Orange and Riverside were among the counties that gained the greatest number of people.

Los Angeles—home to more than a quarter of Californians—added another 50,000 people to top out at 9.9 million people. Orange added 24,0000 and Riverside gained 23,000.

Most of the growth in the counties and throughout the state results from more people being born here than dying here. That’s been the trend for the last decade.

The Department of Finance’s John Malson says the recession’s driven birth rates lower now than they were 5 years ago, almost exclusively among Hispanics. Malson says the sluggish economy also deterred migration to the state. In the last year, 14,000 more people left California than moved here.

Orange and Riverside resisted that trend. Each gained more people from other states and countries.

Riverside was the fastest growing county in Southern California—and the 4th fastest growing in the state. Most counties in that category were coastal areas, including a number of Silicon Valley and San Francisco Bay Area counties where economic growth outpaces the rest of California.

[The-Shoveler]

I would be willing to bet (well a little anyway)
that the population of even L.A. has increased over the last 5 years (traffic is still just as bad anyway), and they are the worst for Tax-with-no-good-service-in-return.

If and when the home building starts to get going in earnest in SoCal I think you will see the net inflow go up quite dramatically.,

Also some of the states that were so glad to grow are starting to see real issues too, so I think they will be in the same boat as far as taxes fairly quickly.

Property Taxes in TX can be very high and Texas cities are becoming just as traffic logged and Smog is becoming a real problem now in most TX cities.

[The-Shoveler]

Yea I am kind of scraggly.

[The-Shoveler]

How come when you say it no one wants to tear you a new one?

When I said this back in 2010/11 everyone wanted to tear me a new one,

not fair.

[The-Shoveler]

May the world not throw you a giant turd,
Almost invariably the world will throw you a giant turd that will set you back 10 years sometime before you reach 50.
If you’re lucky you will realize it was just the turd you needed at just the right time.
I know it does not make sense to you now.

[The-Shoveler]

Not saying it was right or anything,
Just saying there are things one needs to be aware and be wary of out there.
Especially with short sales, not every deal is hmmm how to put it,
Well there are things to be wary of especially with short sales.

[Author]

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