Newer Irvine listings with crazy WTF asking prices from equity sellers

NEW -> Contingent Buyer Assistance Program
Danimal said:
I was lurking on this site (cant remember the old name) for at least a year before i bought my Woodbury home in late 2008. I lost the old login. 😀

I can confirm there was no FCB talk for Irvine. 😀
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We joined around the same time.

There has always been talk of foreign buyers (mostly Asian) but many believed that wasn't a factor in Irvine real estate.

The term FCB (and 3CWG) were my unintended contributions.
 
The first FCB "land rush" I experienced was in the late 1980's to early 1990's. The Hsi Lai Temple was newly opened in Hacienda Heights. A builder I was working with had a massive new home project in Walnut. It was the only "closest to the temple" new home community at the time. Honest to God, every phase opening had 75-100 buyers camped out. Homes sold instantly, with "Builder Buy Backs" (unenforceable, of course) written into the purchase agreements. There were "Feng Shui Wizards" (a term used at the time, not mine...) who would visit the sales office to ritually scout and approve home sites with buyers - many of whom had suitcases of USD$ - ready to buy on the spot. The builder was thrilled of course and continued to raise prices ever higher - until the real estate crash in 92.

Today's market reflects that old timey Biblical wisdom of Ecclesiastes Ch 1, V 9: "There is nothing new under the sun..."
 
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I remember when market predicts that with high interest rate, the stock market would be crushed and so is the housing market. The main two pillars of American wealth. The stock market did correct in mid - late 2022 with around 15-20% depends on the sector. And the FED continue to hold interest rate high and even at latter meeting vows to raise rate if neccessary. Then early 2023, the stock market AI frenzy took over and ran up to an all time high on the Mega Cap today. We clearly, have a bifurricated market, where the well to do, are hoarding 90 % of the wealth. These are the group that enjoy the appreciations and continue to go out and buy. The rest of us is in the BNPL mass, and not even taking a dent if we are not participate. So if we are not participate to begin with what would cause the crash?
 
irvinebullhousing said:
I remember when market predicts that with high interest rate, the stock market would be crushed and so is the housing market. The main two pillars of American wealth. The stock market did correct in mid - late 2022 with around 15-20% depends on the sector. And the FED continue to hold interest rate high and even at latter meeting vows to raise rate if neccessary. Then early 2023, the stock market AI frenzy took over and ran up to an all time high on the Mega Cap today. We clearly, have a bifurricated market, where the well to do, are hoarding 90 % of the wealth. These are the group that enjoy the appreciations and continue to go out and buy. The rest of us is in the BNPL mass, and not even taking a dent if we are not participate. So if we are not participate to begin with what would cause the crash?
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Besides a black swan event, unemployment is usually the indicator. There were a bunch of $$ pumped into the market to ensure the pandemic didn’t cause a mass layoff like 08. Were there still layoffs? Yes, but those layoffs were mainly in tech who on average make 300k+. They will be fine. Interest rates if you were to compare to history is not that high.
 
sleepy5136 said:
Besides a black swan event, unemployment is usually the indicator. There were a bunch of $$ pumped into the market to ensure the pandemic didn’t cause a mass layoff like 08. Were there still layoffs? Yes, but those layoffs were mainly in tech who on average make 300k+. They will be fine. Interest rates if you were to compare to history is not that high.
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I don’t think tech companies laid off many 300k+ makers… most layoffs are targeting at recruiting, HR, admin, maybe sales. Tech companies value their core talents, aka, programmers very much, who also happen to be the majority of the 300k+ people I believe.
 
vsfan said:
I don’t think tech companies laid off many 300k+ makers… most layoffs are targeting at recruiting, HR, admin, maybe sales. Tech companies value their core talents, aka, programmers very much, who also happen to be the majority of the 300k+ people I believe.
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Cutting HR and admin is not going to lead to much change in costs. There were definitely a lot of engineers impacted. I work in tech and also have friends that do as well.
 
vsfan said:
I don’t think tech companies laid off many 300k+ makers… most layoffs are targeting at recruiting, HR, admin, maybe sales. Tech companies value their core talents, aka, programmers very much, who also happen to be the majority of the 300k+ people I believe.
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My company provides financial service technology to big banks. They never laid off developers. We are treated like golden gooses. They did few rounds of clean house last few years and it has always been about cutting QA, BA and other non-dev positions.
 
Danimal said:
My company provides financial service technology to big banks. They never laid off developers. We are treated like golden gooses. They did few rounds of clean house last few years and it has always been about cutting QA, BA and other non-dev positions.
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Can confirm the traditional QA group with QA manager sign-off's for releases is gone with the dinosaurs, replaced by automated testing tool and vulnerability scan tools run by DEV.

But on-shore DEV is also under pressure from out-source solutions like EPAM. Despite the Ukraine war there is a thriving IT Outsource market in Ukraine and Poland.
 
irvinebullhousing said:
I remember when market predicts that with high interest rate, the stock market would be crushed and so is the housing market. The main two pillars of American wealth. The stock market did correct in mid - late 2022 with around 15-20% depends on the sector. And the FED continue to hold interest rate high and even at latter meeting vows to raise rate if necessary. Then early 2023, the stock market AI frenzy took over and ran up to an all-time high on the Mega Cap today. We clearly, have a bifurcated market, where the well to do, are hoarding 90 % of the wealth. These are the group that enjoy the appreciations and continue to go out and buy. The rest of us is in the BNPL mass, and not even taking a dent if we are not participate. So if we are not participate to begin with what would cause the crash?
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If we look at the history of S&P 500, its growth is not just due to the wealthy, but also a growing population that keeps putting more money into the stock market with their 401k's and IRA's.

If and when we have very low birth rate (like East Asia), low immigration and aging demographics, then we'll have more retired people pulling money out of the market than younger folks putting money into it.
 
I really want to know why people are fine paying 11k in extra taxes in GP. I feel like one would need to host a party every week at the clubhouse and swim at the pools everyday in order to justify the extra taxes. Would rather put that 11k in the S&P 500 and let that compound instead.
 
sleepy5136 said:
I really want to know why people are fine paying 11k in extra taxes in GP. I feel like one would need to host a party every week at the clubhouse and swim at the pools everyday in order to justify the extra taxes. Would rather put that 11k in the S&P 500 and let that compound instead.
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Idk, the close proximity to the actual great park may be worth something?
 
vsfan said:
Idk, the close proximity to the actual great park may be worth something?
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I find close proximity to the GP a burden rather than advantage especially with that mello-roos scam like tax: Traffic congestion, noises from sport games and new amp theater being built…
 
zovall said:
Wash, rinse, repeat?
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