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have to say that there are only 2 places that I would like to live all year long: British Columbia and the Bay Area. I cannot stand heat and humidity.
Second that, although you'll get humidity in BC, but it just doesn't feel like the gulf coast.
I'd consider moving back up there if I didn't have family ties here.
I seriously think I’m going to buy a town home in a prime SF neighborhood at the next price trough.
Good idea. Something with a nice view. :)
The last time I checked, it is japan that is holding the majority of USD treasury. Why is everyone fearing China so much? China is extremely f*cked up in its financial system (think 60% bad debt for its banks and bad debt in the making every day), so I won't count on them becoming any substantial world power in the next 20 years at least. I have done business here, let me put it in this way, they can use a bit of basic human ethics and honesty. That's why they can ONLY compete on price, and price alone.
As of Sept, 2005, Japan still holds 600B+ USD treasury while China only holds 250B+. This is one thing that completely baffles me. Why do we keep hearing about China while in sheer economic size and prowness, it is not even close to Japan? Name a Chinese brand that you can 't live without and name a Japanese brand for that matter, it's just so crystal clear to me.
Anyway, I concur with Randy on China's action, even if they are as important of a player as the Japanese. A fast devaluating dollar will hurt China much more than us. What do we lose? A bunch of green paper, who wants more?
Most people moan and bitch abut BA simply because the cost of living is so high. If I were to pick the best spots in the world, price not being an issue, it would have been: Switzerland (plus the Italian lake district), BA, Sydney. I lived in Seattle, BC and Seattle are spectacular in scenery but just rains too much. The first year I moved to Seattle I almost sank into a depression, and mind you, that place has the highest suicidal rate in the country, not a joke!
That's why the smart parents like ourselves need to move out of USD before it crashes. There are two big bag holders called Japan and China who will continue to hold the bag for a while.
Frankly speaking, I don't give a damn if China goes belly up carrying the bag. I do feel sorry for Japanese though, hardworking people, good ethics, they don't deserve this.
For China and Japan, it beats their next best alternatives…
For China, supporting the dollar is not only their best option, it is the only viable option.
China is addicted to US sales. By selling to us they accumulate dollars. They are lending those dollars back to us at cheap nominal rates, and ultimately at negative real rates. This is a great deal for us. But they do this to meet their own needs. They MUST continue their rapid growth to avoid massive unemployment and civil unrest.
Peter P,
“It does not matter something has potential, if that potential is already priced-in or is already overpriced. It is very important to understand what the market has already discounted.â€
Yes, but the prevailing assumptions change with time, so the discount changes. This creates the opportunity (at selected times) to buy cheap when the crowd is selling…
“be fearful when others are greedy, and be greedy only when others are fearful.â€
The tide is shifting…
Randy H,
“I have travelled quite extensively, and lived in many US and foreign cities. I find the BA to be among my top 3 choices for many reasons.â€
What are the other two?
ScotC,
Interesting mix of people. Some good and some of them were cheats and scoundrels.
One need not cheat to get ahead, but some choose that path. I find the lack of ethics of several of your charactors to be disturbing.
But I agree with you about learning how to make money. Most people never get off their asses to make it happen. …even when opportunity stares them in the face.
It really is true (at least to some extent) that you make your own luck.
What are the other two?
For me, personally:
1) Mougins, France. In Provence, near Nice.
2) Marin, SF BA.
3) Heidelberg, Germany (slightly outside, on the Neckar river). If I were to become a "rich-dad", then in a restored feudal castle.
I too, have travelled all over the world and have lived in Wyoming, San Diego, North Carolina, Montana, rural Northern California and the Bay Area.
This is the place I choose to call home, even though I could live anywhere.
There are few cities I would live in: Amsterdam, New Orleans (okay not right now), San Diego, Jerusalem and here. But San Francisco is my first choice.
It is amusing to me to see people claim that the non-whites live in "ghettos" here. That might be true for blacks and latinos, to a lesser extent, but it is not true for Asians.
Are The Richmond and Sunset ghettos? I think not. They might be a bit foggier than the rest of the city, but they have lower crime rates and better schools.
Mougins, France. In Provence, near Nice.
Nice is nice. Bouillabaisse... yum!
Here’s why I say cheats and scoundrels:
Mafia connected, tax evading, Affair with secretary….
“He keeps a house in Mission, Texas, which he declares as his permanent resident so he can avoid paying income taxes in Minnesota.â€
Others evading taxes with the same trick…
“Sincerity. When you can fake that, you can sell anything.â€
These points don’t inspire respect in my book. I consider these items are the behavior of cheats and scoundrels.
You know the real estate market has still a loooong way to go up when a bubblehead like yourself acknowledges that $105,000 over asking to $1.4MM for a 1,600 sqft condo isn’t that much.
I just told a friend about people bidding 400K above listing because of your previous posts. Now it is only 105K? I trusted you!
"I think that if you have the basics in life and perhaps a steady income, that’s all you need."
Programming in ruby helps, too.
Cheers,
prat
It’s not about you. It’s about the money. Unless or until you can understand that, the only thing you’re ever going to be is a well-paid but poor slave.
Very well said
It’s what the dollar represents that means something, money.
However, money means purchasing power. If it is not spent eventually, it has no meaning.
Jeff, thanks for your insight.
Flipping is the last hope of many people. However, all ponzi schemes will fail eventually.
ScottC,
Oh, well, at least they can’t outsource real estate.
I Thought some RE has been purchased sight unseen over the internet.
Maybe this is only the start, as the internet does allow lower marketing costs than a traditional RE office.
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How will it affect credit markets and MBS markets?
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