https://calwatchdog.com/2015/11/29/google-jumps-into-ca-housing-market/ Mon, 30 Nov 2015 22:15:27 +0000 hourly 1 https://calwatchdog.com/2015/11/29/google-jumps-into-ca-housing-market/#comment-119482 Mon, 30 Nov 2015 22:15:27 +0000 http://calwatchdog.com/?p=84728#comment-119482 Having been in the Ca RE industry since the late 1950,s, some of these comments are comical. Yes we are in a bubble, but the bubble is not limited to RE. Free money has been pumped into the economy with a hi pressure pump by the FED. All the newtect business that have gone public and gained direct or indirect access to theFED window is the biggest problem. Housing’s price is “how much down and how much a month” has been since early 1900’s.
T
He 2007 bubble was caused by government policies, this one is different only in shades of color. The rich and good cr score citizens should have benefited most.
But wealth has been transferred to those invested in stocks, look at some of the stocks, because of almost 0 cost money the stock market has soared. because not only RE but all capital assets are valued in the COST of holding them.
Cal homeownership has decreased. Warren Buffett said “if I had a way of managing single family homes I would concentrate my investments in them”. He sat down with his friend and instead of the homes he invested in delinquent loans sold by his plan to Wall Street to wait for the underlying home values to boom upward.
Most of the loss was taken by the individual citizens , most of the now gIn in value is accruing to Wall Street.
A plan to make more obedient puppets of us!
Not a mistake, Obama’s payment for allowing him to transform us to renters not homeowners!

]]> https://calwatchdog.com/2015/11/29/google-jumps-into-ca-housing-market/#comment-119476 Sun, 29 Nov 2015 20:46:45 +0000 http://calwatchdog.com/?p=84728#comment-119476 CA is in another bubble, and it will indeed pop, just like last time. The Bay Area is unique in that the biggest technology boom- biggest business boom ever- is set in Silicon Valley. That is an outlier that cannot be replicated. But that is a bubble also, and it too will bust, but it is a bit further down the line.
With the exception of 1%er’s, and public employees, many of which are now 1%er’s, income has dropped in both relative and absolute terms, and living standards have fallen. This is the first generation of Americans that have not done better than their parents.

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