patrick.net

Now I feel bad for arguing microecon with you guys on the last thread. Sorry I missed the fun. We need to get a NorCal sushi party together.

Whoops, that's not my boxer. Laurent's girlfriends dog.

surfer you are like way fatter than i thought you were.

The camera added 15lbs ahahahahahha :)

Ha, ha! Great picture! Everyone looks healthy, wealthy, and wise...

That dog is awesome. Where's the gato?

Next time I wanna see you guys bustin' out some cervezas, Cali style!

X just looks like a brawler badass to me. Not fat, just kick-ur-ass big.

Children, settle down, ok! Sheesh. For some reason that shot makes Mr. X look bigger than he really is. In person, he's more like Randy H's description.

Here's a much better representation of our handsome Boomer-slayer:

I must say that in this photo you all look like good people. I would not have guessed your photo personalities based on your blog posts. However, in retrospect, there are connections.

Looks like an ALL WHITE PARTY — no ethnic diversity…

Nonsense. There was plenty of ethnic diversity at the blog party: Anglo, French, Spanish, German, Scandinavian, etc. --every shade of WHITE was represented!! What more do you want??

Good looking crowd!

It gives one cause to ponder. What will Labor Day parties look like for homedebtors? Gone are the days of "handcrafted micro-brews" and bring on the Hamm's? At present it's fairly obvious that most markets have issues. With the mainstream media clearly now "on board" how will this summer play out for John and Jill McHomedebtor now that the HELOC/ATM is completely shut down?

My guess is that unlike having to go through the pain of "resetting your PIN number" the House ATM has more serious technical difficulties. I'm already seeing the impact to the consumer here in Oregon. Normally every spring as our weather finally breaks it seems like one of those "resort towns" that shut down after Labor Day and don't come to life again until the kids get out of school. Right now, traffic is lower and slower than in the dead of winter! All anecdotal of course but I haven't had much in the way of disagreement on this point. Higher commuting costs coupled with a "tapped out HELOC" seem to be already having an effect.

Ya'll wanna see a picture of me? well, I have one but it isn't that great. It's on my site here: http://tinyurl.com/om9pu
There you go.

WW2,

Most definitely have noticed the "C/L Index" and is it ever volatile! Postings now seem to be dominated by those that best know how to manipulate the system and man do they ever! You look under RE and some guy has figured out a way that no matter where you click you wind up looking at something HE wants to show you. I've often seen the same listing under several categories. It's "For Sale", "For Rent" and also in "pre-foreclosure"!

Dinor,
What's more is that if I check out Craiglslist Nashville, Austin, or any number of other cities, half of the ads are from Miami, San Diego, or Sacremento. People are pulling out all the stops.
I will say that it is depressing to see that some of the prices in the immediate Nashville area are slowly but surely creeping up into the bubble zone level. I pary that the lunacy ends before it gets out of hand there and everywhere else for that matter.

WW2,

Yeah, I know and it annoys me no end. If I wanted an "investment opportunity" in freaking Miami I guess I would have searched Miami for crissakes! Many of the Las Vegas listings are actually FB's in San Diego desperately trying to unload their McMansion in a hurry. Then again, Oregonians (while bum beefing Californians) have advertised their "retirement dream homes" in the LA Times for years. I suppose that's fine as they were listed as "Out of Area Properties".

I was doing a little research yesterday and ran across an article that dicusses a phenomina that hasn't exsisted in this country since the 1950's, which is a reverse immigration pattern of African Americans out of the NE, West, and other higher priced regions. http://www.dailybruin.ucla.edu/news/articles.asp?ID=29318
The main culprit for this of course is a heavily affluent older white population pushing out the lower income residents. I find this very striking because it is a good indicator of what will happen to the middle class of most major metropolitan regions. Another report mentioned that of the 25 major metropolitan area, 18 of them are losing more population than moving in. Again, this is due mainly to housing and economic costs. The cost of living index is now roughly 4.5 times HIGHER in most of California than the next comparable area. Thus the writing on the wall is very clear: Unless you make at least a 6 figure salary, then your economic options are sparse at best unless housing, tax systems, and economic prosperity are taken under control.
The big question Californians and New Yorkers need to ask themselves is what are the implications and possible outcomes of a microsociety with no Middle class? I've read several books about NYC in the 1860's and 1870's, and the norm of the day was a huge pit of really poor people, and a horde of the elite class with a huge economic advantage over the lower classes.
If you think that living here is expensive now, what will it be like in say 5 or 6 years if 800k houses are a given and taxes are even higher? Will a major economic meltdown become the only way to return to normalcy? Do we need another " Great Equalizer" as we had in the crash of 29'?
Lastly, what will become of these new havens for the middle class? Will they take up the reins where California and New York left off, developing the new technology and jobs that the middle class have always been leaders in? Will their political and intellectual influence rise through the ranks while California Stagnates in moldy old money, much as what occurs in Europe? It is perplexing. Just thought I'd throw that out.