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Someone visits and makes a statement with little
true knowledge of the area or the city. San Francisco has some
distinct advantages over the majority of other major cities in the world.
If you want freaks go to London, Rome, Paris, New York, Miami, Tokyo, Berlin,
DC, Amsterdam, or any other major city in the world and you will find them by
the bushel full.
I wish that everyone felt the way that you did and
would move the hell out of California, especially the bay area. Give us
back the orchards instead of million dollar tract homes. Give us back the
cattle ranches, dairy farms and horse ranches and take back your resort hotels,
beach resorts and spas. Return Lake Tahoe, Yosemite, the Sierras, Mt
Lassen and other wilderness areas to their pristine past.
All this is impossible, but it a nice dream for
those of us that love living here.
----- Original Message -----
Sent: Tuesday, September 14, 2004 2:39
PM
Subject: [RT] Re: Real Estate
And you're right. Venice Beach is inhabited by freaks
and San
Francisco is way overrated.
--- In realtraders@xxxxxxxxxxxxxxx,
"bondo92677" <bruce.larson@x...>
wrote:
> Are you kidding me? I lived in Southwest England
(Surrey) for 10
> years. In the London suburbs, a 50 year old
1500 sq ft house with
> moldy windows and a garage that barely fits a
washing machine goes
> for nearly the equivalent of $1million.
The weather was so bad I
> left the country every chance I had.
In fact, I just got together
> with a former Italian colleague who
still lives in London, who
told
> me he flies home to Milan nearly
every weekend so he can drive
> around in his BMW Z4. Gasoline
costs $10/ gallon and everything
in
> the stores cost twice as much
as the US. I lived about 15 miles
> outside of London and I'd be
lucky to get to the City in one hour
> because of the horrendous
traffic. And the trains were rarely on
> time. My wife used to
complain that she couldn't buy the simplest
> things in the UK
that we all take for granted here. The movie
> theaters(cinema)
in England were like the little porno rooms in
> Manhattan. Don't
get me started. I can go on and on with the
> horror
stories.
>
> So, everything costs double what it costs here, the
stores carry
no
> variety of goods, the weather is consistently
miserable, and my
> school lunches tasted better than pub food.
In California,
> everything costs half of what it costs in London,
there are
endless
> malls and superstores which carry more than any
European can even
> imagine, you're a few hours from the mountains,
skiing and
beautiful
> beaches, and its always sunny. I think
its rained 3 days all
year.
> This has nothing to do with
status. Its a lifestyle choice.
> Everyday, I know the
weather's going to be nice. We think its
> freezing when it gets
below 50 degrees F (10C), and by the beach
its
> rarely above a dry
85%(34C). I can play ball with my kids, ride my
> bike or go to the
beach any day of the year. I haven't worn a
> jacket, carried an
umbrella or worn boots in the 4 years since I
> left London. blah,
blah, blah.
>
> Back to your question. Generally,
demographics and jobs drive
> housing. California adds over a
half million people every year.
> And that's only the people who
are accounted for. Additionally,
the
> marginal low income
minority who couldn't qualify for a mortgage
10
> years ago can
qualify now due to easy credit. Property taxes are
> half
compared to the East coast. But when it comes down to it,
you
> just can't beat the weather. Every year when they show the Rose
> Bowl in sunny 80 degree weather on the tellie, I'm sure another
few
> thousand Yanks around the country pack their bags and load up
a U-
> Haul.
>
> As for the future, as the baby boomers
age, I'm sure alot of
> retirees will cash out of California and move
elsewhere. You also
> have to think the infrastucture can only
accomodate so many more
> people. There's a constant energy and
water shortage. The low
> income worker which is a necessary
component of every society can
> hardly afford to live here.
Also, if home prices go up further,
> business will move out like they
did in the late 80s, and the
> college grads won't choose to live here
either.
>
> I lived in Tokyo in the late 80s early 90s so I saw
all that
happen.
> The rental cash flow just didn't make any sense
relative to home
> valuations. And sure enough home prices come
down 50%. The
> Japanese had some crazy real estate capital gains
laws and 3
> generation mortgages that just added to the mania.
It wouldn't
> surprise me one bit if the same thing happend here.
But I
guarantee
> you, the same thing will happen to UK home prices
because the US
and
> UK follow the same business cycle. Home
prices were down 40% from
> 1990-1994 in London just as they were in
southern
> California.
>
>
>
> --- In realtraders@xxxxxxxxxxxxxxx,
"magcf2003" <magcf@xxxx> wrote:
> > Mr. Ira, Bondo and all the
others
> >
> > I just would like somebody to help me
understand this real
estate
> > frenzy in California.
>
>
> > I am not American, I am Italian and have been living in the
UK
for
> > years. Last year I have been to L.A. and San
Francisco. I do not
> get
> > it, PLEASE take no offence but
I was not impressed. In Hollywood
> > celebs get away with it, but,
on the other hand, I found Venice
an
> > uncomfortable place,
although Santa Monica was better, for
> example.
> > San
Francisco was allright, but nothing really spectacular
unless
>
> you have never moved from your 2,000 souls' rural village. In
>
Milan
> > and London - two places I am highly accustomed with -
middle
class
> > have been moving away from the town in recent
years, driven by
> high
> > prices and poor quality of
life.
> >
> > So, please do not answer me with the supply
and demand thing, I
> > would like to know in your opinion what
drives demand there
(hence
> > supply).
> >
>
> Thanks for all your help
> >
> > Claudio
> >
> > BTW = Anybody following currencies?
> >
> >
> >
> > --- In realtraders@xxxxxxxxxxxxxxx, "mr.ira"
<mr.ira@xxxx> wrote:
> > > Just saw some new homes in
Northern California, 3000 sq.ft.
> Lot
> > size,
10,000-14,000 sq.ft. No landscaping, and rock hard clay
> >
soil. Located in a intermediate quality neighborhood. Starting
> > price, with no upgrades, $945,000 and 6 sold the first
day.
What
> > do they say? "Location, location,
location".
> > >
> > > It just doesn't figure,
but it is happening.
> > >
> > >
> >
>
> > > From: bondo92677
> > > To:
realtraders@xxxxxxxxxxxxxxx
> > > Sent: Monday,
September 13, 2004 8:00 AM
> > > Subject: Re: [RT]
Real Estate
> > >
> > >
> >
> That's interesting. Southern California real estate has
been
> > marked
> > > down 10-15% over
the past 3 months and homes still aren't
> > moving.
> > > But that's not saying much since values have
doubled over
the
> > past 3
> > >
years.
> > >
> > >
> > >
>
> > --- In realtraders@xxxxxxxxxxxxxxx, BobsKC
<bobskc@xxxx>
wrote:
> > > > Of course,
there's is nothing quite like three major
> > hurricanes in
>
> > a month
> > > > to bring
property values down fast. My home on Sanibel
> > Island, Fl
> > > > escalated from $290K in '98 to $550K in
'03 but it's hard
to
> > say
> > > what
it
> > > > may be worth right now. Also,
purchasing at historical
low
> > > interest rates
> > > > runs the risk that with rising rates, real
estate values
> will
> > > fall. Sort
> > > > of like being in a stock you can't sell
because trading is
> > > halted ... :)
> >
> >
> > > > Bob
> >
> >
> > > >
> >
> > At 02:39 PM 9/11/2004 -0400, you wrote:
> >
> > >Well I am finally seeing it happen in real time...in
the
> > > community I live.
> >
> > >
> > > > >I am active
in Homeowner's Association in my Myrtle
Beach,
> SC
> >
> community.
> > > > >We are
Lakeside and just 5 minutes from the Beach with
the
> > new
> > > roads.
> > > >
>
> > > > >I saw a list of the homes owned by
people from CA and WA
> and
> > it is
> >
> > >growing. Apparently there is a network of over 2000
people
> > > dealing with
> >
> > >select realtors who find fast growing and escalating
value
> > areas
> > > in new
>
> > > >communities here and elsewhere.
> >
> > >
> > > > >The out of
staters are buying homes here and renting them
> for
> >
> $1050 per
> > > > >month which
covers mortgage and practically all expenses
> with
> >
> some left
> > > > >over for
repair. In speaking to one from WA, he can not
> > afford to
> > > retire
> > > >
>where he lives plus he believes the escalation in value
> here
> > will
> > > give him
> >
> > >a better profit than the stock market. Apparently,
his
> > particular
> > > effort
>
> > > >was started by a group of stock investment club
women who
> are
> > > also doing
> >
> > >this.
> > > >
>
> > > > >It is having a negative affect on
our Family community
> since
> > many
> >
> renters
> > > > >are college
students...away from supervision...FWIW. But
> that
> > is
> > > being
> > > >
>gradually dealt with.
> > > > >
> >
> > >I am thinking about doing a few properties myself.
There
is
> > no
> > > let up in
>
> > > >demand here.
> > > >
>
> > > > >Just FYI.
> >
> > >
> > > >
>Sincerely,
> > > > >
> >
> > >John
> > > > >
>
> > > >
> > > >
>
> > > > >
> > >
> >
> > > > >
> >
> > >Yahoo! Groups Links
> > >
> >
> > > > >
> >
> > >
> > > > >
>
> >
> > >
> >
> Yahoo! Groups Sponsor
> >
>
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> >
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> > >
> >
>
> > >
>
> >
> > >
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