[The-Shoveler]

The main issue is that local Gov’s can’t resist setting revenue expectations to the last best years return (they use inflation as justification most of the time).
Also the unions push for unrealistic investment return expectations then expect the Gov. to back-stop those expectations.
The math just does not work, eventually even if you took 100% of all sales etc.. eventually you would still hit the wall.

If inflation actually did or does occur, they would get closer however.

[The-Shoveler]

I wear a watch all the time when I am working,
Somehow keeps me focused , nothing too fancy just a bulova.

[The-Shoveler]

Look on the bright side, they keep the School API scores up so you can sell your house to yet another tiger-parent and they can continue the process.
It’s the New American way..
Helicopter parents and Tigers-parents.
In Sweden I hear they have camps to toughen their kids up (Fear they are getting too soft).
You drop your hot dog while cooking it over an open fire, you pick it up out of the dirt or go hungry.
When I talk to my Older colleagues (first gen emigrants from Asia), they tell me of sleeping several to a room to survive while working their way through college (don’t think it is the same today).

[The-Shoveler]

Yep completely baffled,

As far as I can see, everything besides housing is slowing down fast right now, but it could be just me.

I feel like I am the only one who sees that the train bridge is out and no one seems to care.

[The-Shoveler]

Vegas like Austin completely baffles me.
Two cities in the middle of nowhere in the truest sense.
Especially Vegas, with all the Indian casino’s popping up and growing like crazy.
I just heard that new large Time share (I think Tahiti village ) just declared BK. Not sure but I think all the owners are SOL.
OK the Tax situation compared to CA is much better but really is it worth it ?
You could probably just do a Nevada corp and have a post Office box.

Anyway good luck.

[The-Shoveler]

The euro area is the world’s Largest economic entity (GDP is larger than the U.S.A GDP) and provides most of the emerging markets financing (hint it is not us that provides this financing).
I doubt we would escape without getting wounded

[The-Shoveler]

I would have to go with sdr about the following,
1)Without a major economic downturn I don’t think we will see much lower prices in SD area.
2)Most of the remaining U/W home owners in SD are not going anywhere, if they were they would already be on the market to take advantage of the tax law (another reason inventory is so low).

Thing is I think there is a good possibility of another economic downturn (which if it occurs from this level will probably scare the piss out of most everyone here).
You need to ask yourself (where were you in 2009?)

[The-Shoveler]

I am committed to the side lines until I see a major decline.

Waiting….

[The-Shoveler]

BTW,
A lot of the “Roland Heights” area markets are very sad to visit these days (IMO), lots of empty stalls and not nearly as full as it used to be especially in the HK-super market mall.
Really surprised me the last time we visited it (on a Saturday even).
99 ranch seem to be doing good as always, but the rest just seemed really slow compared to what it used to be.
Maybe it’s just me.

TV really needs a 99-Ranch, lots of Asians there now days.

[The-Shoveler]

Pretty much if you buy a house you’re in!!
That’s why Canada’s housing market never crashed and is not likely to crash despite there being no way in hell the locals can afford it for the most part.

[The-Shoveler]

dup

[The-Shoveler]

D’oh!

[The-Shoveler]

The housing downturn would be over in a few months, if we had Canada’s immigration policy.

[The-Shoveler]

In a world where foreclosures are held in check (choose your theory as to why foreclosures are being held back).
The builders will be the price setters for any given area, (my guess about a 2003 price range for most SoCal areas, but that’s just a guess).
This could be interesting.
If the foreclosure flood gates open, expect the economy to tank and more municipal BK’s.
I guess we will see.

[The-Shoveler]

Maybe the coming downturn in Europe will lower the tide some more and we can see who needs a new swim suit.
What was that saying, those that live in glass homes…

[Author]

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