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Buyer pool drying up


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2007 May 8, 1:52am   12,817 views  157 comments

by Patrick   ➕follow (60)   💰tip   ignore  

dried up lake

If lending standards had remained steady, then we would have a pipeline of people who spent the past 5 to 10 years saving for a down payment. Instead, they already got that house, and the savings don't exist. So, if we go back to decent lending standards (i.e., 20% down), we have a LONG wait before we have significant numbers of new buyers, on top of all of the other reasons you cite.

Bob L.

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60   Malcolm   2007 May 8, 7:06am  

Were you stationed down here, you've always seemed to be knowledgeable about San Diego.

61   DinOR   2007 May 8, 7:08am  

Just because your buddy is foaming profusely from the mouth and is bleeding from his eye sockets DO NOT become alarmed! This reaction is "normal". Simply remove your SBD-9 survival kit, and stick the 9" hypodermic needle in his aorta with the force of black belt. Use your military issue belt to stop any arterial bleeding.

62   Malcolm   2007 May 8, 7:09am  

Peter, you should check out the end of the last thread. We were talking about market failures and food, I was surprised we didn't hear from you.

63   Malcolm   2007 May 8, 7:10am  

That almost sounds word for word what I remember reading. I used to think, man, nothing can kill a Marine.

64   azrob   2007 May 8, 7:10am  

Ni hao:

Well if you guys didn't like that real estate commercial, how about the one where the agent meets the chinese family (all 3 generations) at the airport, and pops of his one line of chinese, welcome to america?

Then the wife keeps bowing, wtf? chinese don't do ceremonial bows, thats the Japanese! And chinese would be moving somewhere they already had family or a job...

But the real kicker, why the hell doesn't that "huge NAME WITHHELD" racist real estate company have at least one agent that speaks Mandarin? If I had out of country clients, I would partner with an agent who is a native speaker of their language! Anyone who knows anything about mainland chinese knows their is NO WAY IN HELL they would trust a non chinese agent met over the internet to guide their investment...

zai jian

65   DinOR   2007 May 8, 7:11am  

@Malcom,

I was stationed there several times in the 80's (as well as Long Beach) but I actually lived in IB (Imperial Beach) and took the "trolley" to 32nd St. off Harbor Drive. I was much more familiar w/ TJ.

66   Malcolm   2007 May 8, 7:14am  

I'm getting tired of seeing these young guys in Oceanside getting ready to ship off. They are the nicest kids, and I want this war to end. I don't understand how it equates to surrender by pulling the military out. We have images of Saddam hanging on the end of a rope, I doubt any historian will say that we failed in the initial mission.

67   DinOR   2007 May 8, 7:15am  

IIRC The City of San Diego had a number of major defections from the finance com. Fiduciaries became whistle blowers and there was a lot finger pointing (particularly where the pub. emp. pension was concerned)?

68   Malcolm   2007 May 8, 7:16am  

Ha ha, I'll bet. I go down to IB sometimes. First it's a nice drive along the strand, but I take the dogs to the beach where it winds back towards the estuary. That is a pretty cool area. The condos on the beach there got up to the 600K mark. Now when you walk the little strip there, you will have desperate owners saying "are you here for my open house?"

69   Malcolm   2007 May 8, 7:18am  

Must have been in the Navy right?

70   Malcolm   2007 May 8, 7:19am  

I used to work for the guy who was a bartender in the background of Top Gun. The BBQ place is still unchanged across from Seaport Village.

71   DinOR   2007 May 8, 7:19am  

"are you here for my open house?"

Now THAT is sad! Uh yeah I like to make sure my DOGS approve before I make an offer? Sad... AND nerdy.

72   Malcolm   2007 May 8, 7:20am  

It was pretty pathetic.

73   DinOR   2007 May 8, 7:21am  

Malcom,

As I have said many times, although I was "paid" by the U.S Navy (I was in my own navy). Oh if they only knew!

74   Peter P   2007 May 8, 7:24am  

Steaks are the easiest to cook, if one can even call that cooking.

That is not true. You need a *really* hot oven to get the outside crispy without over-cooking the inside. Fleming's broils the steak at 1600 degrees. I do not have such an oven.

75   Malcolm   2007 May 8, 7:25am  

Depending on the duty it is either a chore, or like it sounds like with you, some people find a lot of freedom. I've worked places where military guys grab some part time work. Sounds like you had a lot of fun in the 80s here.

76   Peter P   2007 May 8, 7:25am  

You need to check out the latest issue of Vanity Fair….. neat story on sushi. $170,000 for one fish! Says American fisherman thought Bluefin worthless until the early 70’s. Sold it for cat food…….

I know that already. It is a big fish though.

77   DinOR   2007 May 8, 7:26am  

I did get to know the area while on shore patrol which was broken down into like 5 different "beats". National City/Chula Vista/IB/The Border. Balboa Park/Hospital. "B" Steet (downtown). Sea World. East County (to include the Los Calinas women's detention facility, a real "treat").

78   astrid   2007 May 8, 7:28am  

Peter P,

Well, 90%. I surprised people don't eat steak more often. Just $8 worth of meat from Costco, a dash of Montreal Steak Seasoning, and a small toaster oven will feed two people quite well.

79   Peter P   2007 May 8, 7:28am  

But then again, the sight and taste of the reddish juicy meat is enough to satisfy me.

I like my beef rather rare. However, very-well-marbled meat (e.g. Kobe) should be more cooked.

80   DinOR   2007 May 8, 7:29am  

I got lucky. You had to be 21 to be able to respond to the call at a bar which eliminated 98% of the crew. And yes I'd rather the guys up in Oceanside were breaking up bar fights.

81   astrid   2007 May 8, 7:30am  

Outback Steakhouse is a disagreeable experience. Overcrowded, high prices, and greasy food. I can eat much better for 1/5th the cost and half the time.

82   astrid   2007 May 8, 7:31am  

Peter P,

I thought you're suppose to cook Waygu more rare or it would cook away the fat too much.

83   DinOR   2007 May 8, 7:31am  

"We goin' Sizzler, we goin' Sizzler" :)

84   Peter P   2007 May 8, 7:32am  

I thought you’re suppose to cook Waygu more rare or it would cook away the fat too much.

I like the flavor of semi-burnt fat. Raw fat is gross.

85   astrid   2007 May 8, 7:34am  

I like well seasoned raw fat. I seek out fatty prosciutto.

86   Peter P   2007 May 8, 7:35am  

Vegetarians will never understand why that Matrix dude betrayed humans.

87   Malcolm   2007 May 8, 7:35am  

White men can't jump, I remember that one.

88   Peter P   2007 May 8, 7:35am  

I like well seasoned raw fat. I seek out fatty prosciutto.

That is different because prosciutto is cured.

89   Malcolm   2007 May 8, 7:36am  

It is seared I think, I love it. I guess that's one more thing Astrid and I disagree on :(

90   Malcolm   2007 May 8, 7:37am  

Shore Patrol, no wonder you had a good time. I heard that is a dream job.

91   azrob   2007 May 8, 7:39am  

Gc wants to be a woman:

I wouldn't bother paying a flight to asia to buy sex. Your mom and sisters will do the service here much cheaper then the $1200 ticket.

92   Malcolm   2007 May 8, 7:40am  

GC, they aren't around right now so we can talk as tough as we want.

93   Malcolm   2007 May 8, 7:42am  

Just like when Peter P said, "I've been happily married for 5 years." I knew his wife was standing right there.

94   lunarpark   2007 May 8, 7:43am  

My FB friend's condo in MV sold today. I don't know the details yet. I think it was on the market for a month (?) with no offers.

Are things slowing down in the "prime" parts of the Bay Area yet? It still seems like places are moving pretty well to me. I'm focused out of state right now though. How about rents? Any increases?

95   Malcolm   2007 May 8, 7:48am  

GMAT has a section which scores your writing ability.

96   Peter P   2007 May 8, 7:48am  

I knew his wife was standing right there.

Huh?

97   Malcolm   2007 May 8, 7:49am  

It is scored by a computer, and a human referee.

98   Malcolm   2007 May 8, 7:50am  

As in behind you making sure you gave the right answer. (joke)

99   skibum   2007 May 8, 7:56am  

azrob,

gc likes to imagine himself a provocateur - I'd just chill out when it comes to some of his seemingly off-the-wall statements.

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