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They are taking it back a little at a time.
English is becoming a second language here.
----- Original Message -----
Sent: Tuesday, September 14, 2004 4:38
PM
Subject: [RT] Real
Estate///California
Mmmmm Ira,
Let's take it to the ultimate for fun.
How about the original 300,000
native California inhabitants who lived
there when the first Europeans
came to California. Bet they hate what was
done to their country.
Why don't all of you CA people give it back to
them and their posterity!
Just a little irony
there.
Unfortunately, Ira, we all know things do not usually go
back.
BTW, I love San Fran, but I would not want to live there...as
well anyone
is entitled to say about their choices.
And how was your
trading day and what's hot for
tomorrow?
Sincerely,
John
> 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 -----
> From:
bondo92677
> To:
realtraders@xxxxxxxxxxxxxxx
> 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@xxxx>
>
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
> > >
>
ADVERTISEMENT
> > > >
> > >
>
> > > >
> > >
>
> > > >
> > > >
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