• Scam Diego alerts

San Diego County home values rose by almost 0.9% in January compared to December, according to Case-Shiller/Standard & Poor's data released this morning (March 30). Collectively in 20 major metro areas, home prices rose 0.3% during the period on a seasonally-adjusted basis. Los Angeles prices were up 1.8% from December. Values in Phoenix, which have been extremely weak, rose by 0.8%. However, the picture on a non-seasonally-adjusted basis was not so encouraging, falling 0.4% in January from December. In only four cities did prices rise. David Blitzer, chairman of the S&P index committee, said the rebound in housing prices seen last fall is fading.

  • Scam Diego alerts

Comments

Visduh March 30, 2010 @ 10:10 a.m.

How credible are these stats, really? Unemployment is high, and consumer confidence is weak, there is a huge overhang in the market of pending foreclosures, and home prices rise? Who is bidding up the prices?

Please excuse my skepticism, but this makes no sense to me.

0

Don Bauder March 30, 2010 @ 1:25 p.m.

Response to post #1: I think the Case-Shiller numbers are the best out there. Generally speaking today, analysts are interpreting the new data as negative -- possibly indicative of a coming second dip in home prices. There was an increase in the fall and it is flattening out. Best, Don Bauder

0

Psycholizard March 30, 2010 @ 6:49 p.m.

Loans seem cheaper, and though I have no figures, I suspect that e price of the loan-home package is still dropping in terms of the 30 or 40 year price. Those cheap loans come from a Federal Reserve and government determined to stop the slide in prices. This monetarist tactic might succeed. We need to see a rise in volume before we put any trust in sales figures. A truly liquid market is the best medicine for the foreclosure disease.

0

Don Bauder March 30, 2010 @ 7:13 p.m.

Response to post #3: We don't have a liquid real estate market, but we sure as hell have a lot of liquidity provided by the Federal Reserve. It's buoying stock, bond and commodity markets, but has only boosted residential real estate a little bit (and that may be ending) and it hasn't rescued commercial real estate. Best, Don Bauder

0

SurfPuppy619 March 30, 2010 @ 7:18 p.m.

Until the economy starts creating jobs, decent paying jobs, there will be no rise or recovery in housing or anyhting else.

No jobs = no housing recovery.

0

Don Bauder March 31, 2010 @ 6:49 a.m.

Response to post #5: There has already been a big jump in bonds, stocks and commodities because of the liquidity. The artificially low mortgage rates, effectuated by the Fed's purchase of mortgage paper, probably boosted housing for several months. Federal programs in housing, autos, etc. have helped short term. But the problem is that these sales were borrowed from the future. And they do damage to the Fed's balance sheet and the nation's deficit. Best, Don Bauder

0

valueinvestingisdead March 31, 2010 @ 9:03 p.m.

San Diego is so over-rated as a place to live. I lived there 20 years and moved. We just went back to visit and I could feel the stress and tension the minute I got in the airport. Driving there is a nightmare. By the way, the CHP is raising money for the State by giving tickets for everything. I supposedly rolled thru a stop sign and got flagged. I couldn't believe they were pulling me over as I didn't even realize I did anything wrong. I watched the rest of the week and didn't see one person fully stop unless they had to. Guess I should have spent my tourist dollars elsewhere. FU California.

My wife, who grew up there, has a chronic cough from the smog. Going back irritated it so bad this time that I am not sure I will be able to bring her there again. One thing I noticed is that people don't say hello. I am so used to it now where I live. Everywhere you go, people look you in the eye and smile. In CA, that never happens.

San Diego is like dating a beautiful woman with nothing on the inside. Once the honeymoon is over, she begins to wear on your nerves. I don't miss that place. Enjoy your smog, rude people and me me me culture....

Sign me, loving the fresh air of the mountains....good riddance Stress Diego.

0

Don Bauder March 31, 2010 @ 10:32 p.m.

Response to post #7: The absence of friendliness that you notice results from the crowding phenomenon. Too many people -- or too many animals, for that matter -- in too small a space lead to short tempers, anxiety, hostility. San Diego County is now over 3 million in population. Are you surprised at escalating road rage? Best, Don Bauder

0

SurfPuppy619 April 1, 2010 @ 12:05 a.m.

One thing I noticed is that people don't say hello. I am so used to it now where I live. Everywhere you go, people look you in the eye and smile. In CA, that never happens.

I have a friend who I went to grad shcool with in Lansing, MI.-we were both from So Cal and she ended up staying. So anyway we were talking recently about how differnt it is in a small town like Lansing, especially when compared to CA. It is more laid back and friendly.

And it is very true-the small town environment of the mid west are light years apart from CA living. I am not saying it is better here or in a small mid west town-but it certainly is different.

0

Psycholizard April 1, 2010 @ 12:10 a.m.

To 7

Sorry we failed to smile, personally I find the throngs of bikini clad students quite cheerful, and I never feel crowded around them.

Those who date beauties and find them shallow, should reconsider their selection process, their mothers can find them a girl with a good personality. If San Diego is too shallow, perhaps San Francisco has what you need. Now if your wife supervised your visit, don't blame the town for your bad time.

I love this town, call us dumb bunnies, but we are cheerful, beautiful dumb bunnies. As Yeats sings;

"And wisdom is a butterfly, and not a gloomy bird of prey.".

0

Psycholizard April 1, 2010 @ 1:32 a.m.

to 9

Surfpup, did you see how they separated Sallie Mae from her banking pimp in the health care bill? I guess the double dose of antibiotics she needed made it health care, or perhaps they were sneaking it past the banks hired gun, Philly Buster.

0

Don Bauder April 1, 2010 @ 7:46 a.m.

Response to post #9: I'm not sure the key factor is the Midwest. I'm from the Midwest (suburb of Chicago) and I don't think it is inherently any more friendly than any other place. The major factor, in my judgment, is size -- how many people are crammed into how little space. This explains why New Yorkers are such irascible people. The Chicago of my day (1930s, 1940s,1950s, first half of 1960s) was no friendly place. When we go back now, we don't sense any altruistic aura. Nor do I sense that in L.A. or San Diego. Best, Don Bauder

0

Don Bauder April 1, 2010 @ 7:52 a.m.

Response to post #10: With all due respect to Yeats, "Madama Butterfly" is one of the most tragic of operas. Butterflies prey on flowers. Vultures, whom everybody denigrates, are not really birds of prey in the sense that they feast on carrion. They do a service by cleaning up things that are already dead. Best, Don Bauder

0

Don Bauder April 1, 2010 @ 7:54 a.m.

Response to post #13: I'm surprised that SurfPuppy hasn't commented on Sallie Mae. We'll hear something. Best, Don Bauder

0

MondoGrapes April 1, 2010 @ 1:28 p.m.

I don't know if I found San Diegans all that rude when I lived there in the late 90's, but hey, I was born and raised in Brooklyn, NY, so I don't know how much it would have bothered me even if they were.

That said, I found them to be more insulated and indifferent or not interested in anyone outside their own particular social circles. But my theory on that has more to do with west coast cities being built around cars and freeways and the non-centralized layout of the cities themselves than with any character flaw in the people. It's tough to interact with your surroundings and the people in them when you're zipping by at 70 miles an hour. People spend an awful amount of time in their cars on the west coast. Even in their own neighborhoods (I very rarely saw people walking).

I also found San Diego (and CA in general) to be one of the most segregated places I've ever been. To be sure, neighborhoods here in New York, residentially speaking anyway, are broken down by ethnicity, economic background, sexuality even. But the big difference here is that Manhattan serves as the center of not only the five boroughs but three neighboring states as well. So if you're blue collar or white collar, white, black, brown or in between, gay or straight, young or old, an accountant or bike messenger, you are commuting into Manhattan on the same trains and buses as everyone else for a good chunk of your day. Likewise, in any bar, deli, or restaurant in just about any neighborhood in Manhattan you will have a very good cross section of those people interacting. I've found it 100 times easier to start a conversation with a complete stranger in New York than anywhere in CA.

0

Psycholizard April 1, 2010 @ 2:08 p.m.

To 13

Yeats was referring to those thirsty butterflies who, in their quest for nectar, thoughtlessly pollinate. I love them.

Now admit that opera lovers love and need crowds. Opera lovers can drop the Jean Pierre Ponnelle "Madama Butterfly" in their video machine and be certain of seeing a masterpiece, but opera lovers prefer crowds. The performers love them.

We hate crowding. The modern city must enable crowds without congestion, and this requires careful planning. San Diegans in the past planned well, and gave us parkland and zoning laws. We must fight to save this legacy from haphazard development. Real estate bets on this fight.

I like our real estate long term. I think it will outperform money borrowed at today''s attractive rates, because the government will print money until inflation is restored. The housing price deflation is temporary, but may continue short term.

0

Don Bauder April 1, 2010 @ 10:26 p.m.

Response to post #15: Here's a poser for amateur psychologists and sociologists. The West was settled, to a very large extent, by people on the lam. The gold rush, cattle business, widespread prostitution did not attract the best of people. Similarly, Australia was settled to a large extent by people released from English prisons. But the West and Australia seem to be doing OK. The inferior genetic makeups of yore don't seem to have negatively impacted the current populations. Or have they? Best, Don Bauder

0

Don Bauder April 1, 2010 @ 10:31 p.m.

Response to post #16: I agree that San Diego real estate may be a very good speculation for the long haul. The Fed will keep rates low for some time. That should buoy stocks, bonds and commodities. But the artificially low mortgage rates haven't helped housing that much yet. It might be worth a stab -- in San Diego, but not in some place like Youngstown (Ohio). Best, Don Bauder

0

valueinvestingisdead April 3, 2010 @ 1:15 p.m.

Reply to #12 - It is the crowding but San Diego has it's own very bizarre culture. I will give you another example: People don't even like it if you stand up at concerts. They are oddly quiet at them, also. Now I saw the same acts in San Bernardino and Los Angeles - 2 crowded places, and people were way louder and more into it as well as didn't care if you stood up. I remember a couple of the lead singers puting their ear to the crowd as if to say, "what gives"? Indifference? Please don't say it is because it is laid back. I have seen fists thrown over a wave by two surfers. I just cannot even say how happy I am to be out of there. It is beyond over-rated.

Have a nice day.

0

Don Bauder April 3, 2010 @ 3 p.m.

Response to post #19: One thing I would not know is whether San Diego audiences go less ga-ga at rock concerts than rockers in other cities. I have never been to a rock concert. Best, Don Bauder

0

Burwell April 5, 2010 @ 10:36 p.m.

Most people find opera and classical music to be dull and boring. Unfortunately, little can be done about the boredom factor. Liberace understood this and achieved commercial success by eliminating the boring parts from classical songs, adding drummers and guitarists, and splicing songs together into medlies like the one below.

0

Don Bauder April 6, 2010 @ 7:56 a.m.

Response to post #21: Ah, Liberace. His sport coat was certainly not boring. Funny you talk about opera and classical music being boring. My wife and I listen to three or four hours of opera, classical or chamber music almost every evening. Our one disagreement is Wagner: I love it, she only likes some of it. She was gone for eleven days. My idea of being a bachelor was watching/listening to Wagner DVDs/CDs for all eleven days -- more like five to six hours a day. It was glorious. My heart was beating; I had butterflies in my stomach. I was hardly bored. Some of the time I was listening to Wagner, watching basketball, and doing Reader homework at the same time. So you see what a pill I am. Best, Don Bauder

0

Twister April 11, 2010 @ 7:50 p.m.

Yeah, a lot of this discussion is on the money.

Can you take an analytical look at the price-change phenomenon according to sale price change? That is, I suspect that the bell-curve is inverted for this ratio, but can't prove it. Nor can I demonstrate that said curve was ever upright or relatively flat, but I would sure like to know how all this looks in terms of, say, post-WW2 history or even post 1900 and when in history similar phenomena occurred and what factors were significantly correlated . . .

0

Sign in to comment

Join our
newsletter list

Enter to win $25 at Broken Yolk Cafe

Each newsletter subscription
means another chance to win!

Close