Market Watch

[Hay Dude]

IMO, in the beginning we were in uncharted waters and a lot was wasted on research, vaccines, ventilators, etc.
That racked up a lot of debt with lots of gov’t waste. I cut the waste in the ‘19-‘20 years a little slack.
By the time the next administration took office and threatened us with the “winter of death” (which never happened) they had a lot more knowledge.

 

[edgarrian]

IMO, in the beginning we were in uncharted waters and a lot was wasted on research, vaccines, ventilators, etc.
That racked up a lot of debt with lots of gov’t waste. I cut the waste in the ‘19-‘20 years a little slack.
By the time the next administration took office and threatened us with the “winter of death” (which never happened) they had a lot more knowledge.

A little common sense goes along way. Proper reporting and truthful facts help aid in awareness. None of that happened in 2020 or the following years. A virus is a virus. You can't stop it. IN 2020 we allowed big pharma to create a vaccine in what 8 months. In exchange they were basically promised all the profits in the world without any worry of blow back. Frankly we couldn't have screwed up any worst in 2020 than what we did. The following years were just the icing on the cake.

 

[ultrarunner]

Go west young man…

It does seem everyday a Bay Area SF company is announcing layoffs and vacating space…

Also we are getting vastly more resumes than we have in years for medical openings.

My first mortgage arrived 13.5 turned out to be a blessing as I got a free ride as rates dropped and property value increased.

One thing I never fully understood during the foreclosure crisis 2009-12 is I realize anyone breathing was able to get a loan and many with no down payment but these loans all had PMI tacked on so in the event of default the lenders are protected… so what happened?

Two things Im seeing now are higher rate if auto and credit cards in arrears and government is again offering down payment and first time homebuyer assistance… I thought that was to be no more?

 

[ultrarunner]

Are you suggesting that Reagan/Bush in the 1980s caused high rates? My son and his wife closed on a house last week in Baton Rouge. 4.5% fixed rate mortgage, 30 years.

What was the buy down… the very best traditional mortgages last week were in the high 6 percent without a buy down or seller assistance .

 

[jyoutz]

What was the buy down… the very best traditional mortgages last week were in the high 6 percent without a buy down or seller assistance .

IDK, I just heard the rate. Probably a point. But it was locked over a month ago.

 

[jyoutz]

It does seem everyday a Bay Area SF company is announcing layoffs and vacating space…

Also we are getting vastly more resumes than we have in years for medical openings.

My first mortgage arrived 13.5 turned out to be a blessing as I got a free ride as rates dropped and property value increased.

One thing I never fully understood during the foreclosure crisis 2009-12 is I realize anyone breathing was able to get a loan and many with no down payment but these loans all had PMI tacked on so in the event of default the lenders are protected… so what happened?

Two things Im seeing now are higher rate if auto and credit cards in arrears and government is again offering down payment and first time homebuyer assistance… I thought that was to be no more?

I think a lot of SF Bay Area people are leaving. We have friends who moved near us last summer from the Bay Area and they are still working for Bay Area companies teleworking. For $350K they bought a decent newer house; something they could never do in the Bay Area.

 

[ultrarunner]

I think a lot of SF Bay Area people are leaving. We have friends who moved near us last summer from the Bay Area and they are still working for Bay Area companies teleworking. For $350K they bought a decent newer house; something they could never do in the Bay Area.

There are entire websites dedicated to Leaving the Bay Area.

It use to be retirees would leave for the foothills but just about all of my retired friends either relocated or have been looking outside California...

 

[Hay Dude]

Maybe they are tired of the homeless people attacking them, the poop on the sidewalks, or the retail stores closing?

 

[jyoutz]

There are entire websites dedicated to Leaving the Bay Area.

It use to be retirees would leave for the foothills but just about all of my retired friends either relocated or have been looking outside California...

I imagine that it’s awful tempting to leave if you can sell your home for $1.5M, then go elsewhere and buy a nice place for $300-400K, and bank the remainder.

 

[ultrarunner]

Heard today that half of the US homeless population reside in California... maybe it's the weather?

Maybe they are tired of the homeless people attacking them, the poop on the sidewalks, or the retail stores closing?