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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: GraceZ who wrote (21438)	6/7/2004 6:55:44 PM
From: patron_anejo_por_favor	Respond to of 306849

Mark-to-Market keepin' it real!<G> capitalstool.com April consumer credit released today, up $3.9 billion. March was revised upward from $5.7 billion to $9.3 billion. Must have missed the count in San Diego. And the same characters I saw driving on the freeway last year are still there, but getting even richer. Unbridled and unchecked optimism, fueling rampant consumer spending, personal leveraging and upgrading. The KB Home construction superintendent, still driving his 2003 F-350 Crew Cab, unfazed by $2.50/gallon. Now his truck has been lifted by another 6” with new stainless steel Bilstein shocks and diamond plate bumpers installed, in case his detailed truck encounters an abandoned plastic garbage can rolling in the street of his subdivision. The 24-year old Marketing Manager for Expedia.com, still driving her BMW 330 convertible, but now talking on the latest stainless steel camera cellphone from Motorola, so she can show her girlfriends a picture of the latest Parisian lingerie fashions she is purchasing at Nordstroms. And of course, the most expensive lingerie and perfume and shoes are necessary to attract and seduce the 27-year old Italian Stallion, the top closer for New Century Mortgage, whose income is now reaching absurd heights, and is leveraging his Newport Coast home purchased a year ago with a new home equity line to buy another “vacation rental” property at Pacific Beach. And then there is the 32-year old ex-housewife turned into Interior Decorator, enjoying the spoils of picking out hardwoods, antique furniture, and fancy artwork for the myriad number of securities firms, financial planners, wealth managers, and stock analyst firms setting up shop in the most expensive real estate market in the country. She’s on the loose, recently divorced, budgeting for her new implants and facials necessary to compete with the crowds of 20 – something girls from Cardiff and Del Mar perfectly tanned with no wrinkles and no baggage. She’s just purchased a new Lexus LX470 SUV with 22” rims, DVD, and GPS navigation so she can outclass the younger North County chicks with the flat stomachs driving their 2004 Toyota 4Runners. And can’t forget the 64-year old International Playboy who looks like Angelo Mozillo who just emerged from the tanning bed and his hair dyed jet black, rolling up the freeway in his Mercedes SL600 Roadster. Recently retired “import-export” merchant who just cashed out of the China trade bonanza. Of the 16,478 cities in the U.S. to pick from, he chose to live in La Jolla, California. Where the youngest, hottest, most available gold-digger girls reside. And there are hordes of other $80,000 Mercedes, Hummers, Range Rovers, all occupied by the usual plastic surgeons, hedge fund managers, biotech research scientists who think that “the sky is the limit” and nothing can stop the San Diego Hockey Stick Economy. I mean, really. Take any statistic from San Diego and put it on a graph. Employment, housing prices, personal incomes, credit card debt, home equity applications, new car sales, etc. Guaranteed that its shaped like a Hockey Stick. People must just sit in their offices, calculating how much their net worth has gone up this month as a result of 30% annual house price appreciation, and start planning their next spending melee.