patrick.net

SubOink says

It's easy to live below your means when you make 50mill a year, isn't it?

As someone who is house poor you would know.

RentingForHalfTheCost says

Goran_K says

bmwman91, we salute you!

bmwman91, buy the motor already. BA people have lost that kind of loot in a week. Last week as an example.

Working on it today. My only concern is the 11.5:1 compression...that will increase NOx emissions and I need to be able to pass CA SMOG! I think I'll pass on the rebuilt transmission & differential since the ones in the car are fine and usually don't die unless you abuse them, and $4500 is a lot to drop on two parts that aren't broken! I have a psare transmission laying around somewhere anyway lol.

So as to keep up the appearance of not hijacking this thread...I think that the BA is still in a bubble. It looks like 2012 is either going to be a year of mild re-inflation, or at the very least a year of no deflation (in the peninsula & SV areas).

Since analogies are fun, this is my take on "the bubble." Most people here think of water & dish soap bubbles. They are weak and will POP without warning after a short time. Being a car nut, and looking at what has been going on in the BA, I think that our bubble is more akin to a blistered figerglass shell. Damaged layers delaminate & can form very large bubbles. You can't pop them because the bubble is made of structural material. Fixing them involves stripping the bad layers off, cutting that section out & completely rebuilding it. The difference between popping a soap bubble & repairing a delaminated fiberglass structure is more or less how I see the difference between the RE bubble in most of the US, versus the RE bubble in the BA. RE in the BA is rotten to the core and it is a structural issue. Only something major is going to "fix" this, and anyone that has done work with fiberglass knows just how unpleasant, uncomfortable and even dangerous (without proper safety precautions) it can be! So it is with the BA too.

I don't understand the original question. I thought the bay area bubble never completely popped yet.

clambo says

I don't understand the original question. I thought the bay area bubble never completely popped yet.

Some places did, other places did not. Some will not, such as Palo Alto.

Our place was valued at $1.2M at the peak. We bought it in the low sixes because it was fixer. The houses around us are all owned by older people who've been here for years and are valued anywhere between $750-800K. The foreclosure down the street (that smelled like mold) was on the market for one week before going pending.

This isn't Columbus.

Mick Russom says

SubOink says

It's easy to live below your means when you make 50mill a year, isn't it?

As someone who is house poor you would know.

house poor?

Did you guys read about the billionaire Nicolas Bergguen who just lives in hotels?
Chicks still dig him. Imagine that.
Something tells me he's not dealing with pajama parties, pampers, school pta meetings either.
Something also tells me he is not dating any fat chicks.

rootvg says

clambo says

I don't understand the original question. I thought the bay area bubble never completely popped yet.

Some places did, other places did not. Some will not, such as Palo Alto.

Which neighborhood didn't pop?