Shades most CA homeowners expect yearly appreciation in double digits for the next decade. Look at some of these comments on that blog. This time is different, housing bears are antiAmerican and $800k shacks have value in close proximity to universities<g>
"I'm so glad I found this blog. Most of these bubble blogs are negative and to be honest, that makes me madder than hell.
I think most of these people who run these blogs are very very anti-america and anti-bush. They want to do everything they can to destroy good real estate investments. These liberals want to destroy this country. To talk about real estate bubbles while we're at war is treason plain an simple.
Anyone can buy a house whenever they please. There's enough loan products out there fit most situations. Because of this, there's no reason for most people to not own.
I read about these people who sold their homes and decided to rent. They're fools. Big unpatriotic fools that really ought to be tarred and feathered. I'm sick of them and these negative blogs.
I'm really happy to find this positive blog run by what seems to be a patriot. Thanks!"
"You forgot to mention Watts' fast ascent is due to its great college town atmospere. As a college town (close proximity to the great Cal State Dominguez Hills and Compton Community College), there will always be demand for housing.
I was lucky enough to obtain this pearl of wisdom from a wise Sacramento Realtor who shared with me the secret of Sacramento's fast paced real estate appreciation: proximity to the Harvard of the West--Cal State Sacramento as well as Devry Technical Institute.
Following such advice, I have recently made purchases of 20 homes in San Bernardino, home of the world famous Cal State San Bernardino. I'm looking at tripling of my investment in the next three years. I am one with the Nile! "
"Sunset Beach Guy said...
Hey OC Renter fixated a bit on the CSU system?
You forgot
CSULA (East LA)
CSU East Bay (formerly Hayward or Hayweird)
San Jose State
Fresno State
CSU Bakersfield
CSU Stanislaus
Don't forget UC.
UC Merced (is a bustling campus)
UC Riverside
UC Irvine
Private Sector
University of Redlands
USC
The proximity to Universities clearly makes the bubble impossible."
"Buck, what you're saying hints at the truth: the rules of the game have changed. The economy of today is fundamentally different from the economy of your grandmother's day. Some key words: globalization, democratization and emerging markets.
Remember when Grandma told you to save your pennies? Remember when she gave you a cute little bank passbook where you were supposed to write down every time you deposited part of your allowance in your savings account?
Grandma loved you, but she was from another time. By teaching you to save she might as well have been teaching you to operate a spinning wheel or a loom. Saving is obsolete in today's world. Only spending money puts it to work. And money spent on a house works as hard as money can work, because then you can then borrow against the house and spend that same money on a new car, boat, etc., thereby creating new jobs, and all the while your house keeps increasing in value, no matter how much you borrow! It's like a magic circle of money!
Do you want to work for your money or have it out there working for you? Saving might have been smart in 1935, but it's 2006 now, and this housing boom has only begun, so get in while there's still time. Do you know who saves money? The Chinese. And needless to say, we don't look to the Chinese to decide what to do. As a result of all their wasteful saving, the Chinese housing market is in trouble. Americans are sophisticated enough to keep spending, so here there is no danger of collapse. " |
