Could Irvine turn into the Beverly Hills of Orange County?

NEW -> Contingent Buyer Assistance Program
[quote author="C Delroy Spuckler" date=1242850594]<IMG SRC="http://www.hot-screensaver.com/wp-myimages/malaysia-durian.jpg">



[quote author="reason" date=1242828539]C delroy,



Durian is a fruit, right? Oops, I just Yahoo'd it. Yes, it is. Wow! I am impress that you like that. I, also, like that fruit. There's a chef on cable. I think his name is Zimmerman. He could eat anything from bugs to rodents. Yet, when it comes to this fruit. He threw up. Odd.</blockquote>


Yup, for people who don't know, durian is a fruit. The inside has numerous chambers which have this "dry" pudding-like substance in it, along with some very large seeds. I'm not sure which cultures eat it... I was introduced to it by a Vietnamese friend. My wife and her family had never heard of it, and we've never seen it at a Korean market.



The quality most people will know about durian is it smells very bad... especially when you buy it fresh (versus the frozen stuff most people carry). But it has a very sweet taste that betrays the smell. If you can get past the smell, the taste is excellent.



Its pretty darned expensive... frozen ones run $20, and fresh ones can run $50-75 depending on the size. Typically I've seen it sold in a yellow plastic net bag at some 99 Ranch stores (Culver typically has it, but Jeffrey doesn't) and Vietnamese markets. If you pick one up to buy it, the cashiers their know what it is and will typically make a "mmm... yummy" comment. Buy the fresh one, and they will know you are serious ;)



It goes good in cookies, and I've made a homemade ice cream with it. Its also fun to crack it open and just eat it out of the shell. For the less adventurous, hit up the Lee's Sandwiches near UCI, they sell durian ice cream and durian smoothies. Both are excellent and do a good job capturing the taste of it. (Not sure if other Lee's carry this)



I tried growing a durian tree without much success. My neighbors would have either killed me or hugged me if I ever pulled this off.



Delroy</blockquote>


Wow. I can't believe there's actually another person in OC that likes durian!
 
[quote author="gypsyuma" date=1242859417][quote author="awgee" date=1242800613][quote author="gypsyuma" date=1242795214]



Wait a minute... hold the phone. This is the IRVINE Housing Forum.... so if you think Irvine real estate is such crap,

</blockquote>
Where did I say I thought Irvine real estate was such crap?



[quote author="gypsyuma" date=1242795214]

then why do you spend so much time keeping track of it?

</blockquote>
So much time? How much time are we talking about? Keeping track of it? You mean writing on this blog? I am not so sure I keep track of any Irvine real estate, although I do read about it here and other places.

[quote author="gypsyuma" date=1242795214] I am honestly confused.

</blockquote>
Maybe it is because you are making unfounded assumptions.

I blog at the Irvine Housing Blog because I like real estate and the IHB has some of the most interesting bloggers; ditto Calculated Risk.

[quote author="gypsyuma" date=1242795214]

I admit that I am usually the last person to know what is going on....

</blockquote>
I am right behind you in line.

[quote author="gypsyuma" date=1242795214]

so are you telling me the purpose of creating an Irvine Housing Forum is so that we can all come together and trash on it?

</blockquote>
Who is trashing the Irvine Housing Forum? And who was talking about creating the IHF? Or the purpose of it? I did not create it, so I could not deign to propound on the purpose of it's creation.

I think BK and some others were speaking of some folks overwhelming desire to purchase in Irvine because of the status they perceive their choice of residence will bring to them, and I was snarking about said perception. Seems fair to me. Status hunger seems like a good target to me. You disagree?

[quote author="gypsyuma" date=1242795214]

I also have no clue what an LV bag is - like I said, last to know...

</blockquote>
I asked my wife. It means Louis Vitton, (sp?).

[quote author="gypsyuma" date=1242795214]

I am just shit surprised to see a bunch of men sitting around typing about ladies hand bags. LOL Who woulda thought?</blockquote>
Well, why do you not tell us more about yourself, and we will type about you?</blockquote>


After reading this forum for the last month or two, I think I will pass on sharing my life story for your fodder. You guys are too good at snark - and I would likely end up curled in a fetal position crying for my momma.</blockquote>


Smart choice.
 
[quote author="gypsyuma" date=1242860161][quote author="Mcdonna1980" date=1242813346]How many times does Irvine Renter have to point out that desire does not equal demand. This is the fatal flaw in all these Asians-are-going-to-prop-up-Irvine-home-prices theories. </blockquote>


So yes, the asians are not immune. </blockquote>


Maybe you'll both be right, I hope you are. I've got a lease that runs until Dec 31st, 2010 (this date was deliberate, and wholly based on the predictions of the IHB crew). On Jan 1, 2011 we are done waiting and watching for whatever is supposed to happen. So assuming no change in job status, whether its the $375 sq ft BK thinks, or your $2xx number, we are going forward. Since we have a set amount to spend, the only impact to us is how much house we get. So yeah, I hope you are right. I just don't see it yet --- and I've been waiting and watching for a while now. Check out my join date for IHB.
 
Speaking of stepping in dog doo-doo and durian... they smell about the same... for those of you who never have had it.



It's why not that many people eat it... scent is like 90% of the taste experience right?

[quote author="awgee" date=1242858766]Too personal.</blockquote>
Well... how about the size, type, brand and color of your underwear? You can PM me the answer.



I AM PANDA.
 
LOL I don't think the durian smells the same with dog doo-doo. For us (my wife and I) love the durian smell and taste. I believe it origins from Thailand. Indonesia has some good durians too... but most durians that we have in United States come from Thailand. To give you guys some idea on how strong the scent is, some airlines prohibit you to bring this fruit. I experienced it =.="...
 
[quote author="gypsyuma" date=1242860270][quote author="nefron" date=1242814884]How many of you are actually shopping for a house in Irvine and have seen the prospective buyers at the open houses?</blockquote>


I looked around last month, and except for one house I looked at up on the hill in Turtle Rock, it was ALL asians. Especially at the model homes in Woodbury and Portola - I was the only white chick.</blockquote>


That has been my observation as well. No matter where I've gone whether it's an open house in W Irvine, Quail Hill, or a model home in Portola Springs, it's been all Asian people looking and we also were the only white family.
 
[quote author="SoCal78" date=1242867680][quote author="gypsyuma" date=1242860270][quote author="nefron" date=1242814884]How many of you are actually shopping for a house in Irvine and have seen the prospective buyers at the open houses?</blockquote>


I looked around last month, and except for one house I looked at up on the hill in Turtle Rock, it was ALL asians. Especially at the model homes in Woodbury and Portola - I was the only white chick.</blockquote>


That has been my observation as well. No matter where I've gone whether it's an open house in W Irvine, Quail Hill, or a model home in Portola Springs, it's been all Asian people looking and we also were the only white family.</blockquote>
The politically correct term is for them is "FCB".



I actually see quite a few Middle Easterners too.
 
[quote author="reason" date=1242866593]Yeah, I actually like the smell of durian. Even when I was a child.</blockquote>
You are nuts, I was over in Thailand and that smell almost made me sick. I have wondered if it was the outside of it that made it smell or the inside???
 
Durian is all over Malaysia. The hotels have signs posted stating that you cannot bring it inside the hotel. If someone cracks one open it can stink out an entire floor-- the stuff is that potent.
 
[quote author="QH Renter" date=1242870118]Durian is all over Malaysia. The hotels have signs posted stating that you cannot bring it inside the hotel. If someone cracks one open it can stink out an entire floor-- the stuff is that potent.</blockquote>


had the same signs in our hotel in Thailand. Too bad..
 
[quote author="gypsyuma" date=1242860161][quote author="Mcdonna1980" date=1242813346][quote author="CK" date=1242797578]Geez, I go away for a couple of days and you go and start a thread like this. Since everyone seems to be numbering their thoughts in this thread, I'll join the party:



1) In appears in this (and most threads on IHB) the people calling for future carange of Irvine are also those most likely to A) not live in Irvine, and B) have no desire to ever live in Irvine. They see no value in the place, and therefore why should it hold any premium to them over whichever place it is they value. Naturually us Irvine residents (even those who don't own) tend to think Irvine is a little more special, and worth a little more than surrounding communities. I'm not making a judgement on which faction is likely right or wrong, I'm just sayin that's the general trend on IHB.



2) I think BKShopr and Graph are the smartest guys in the room. But they seem to have a differing opinion on what the future prices of Irvine holds. Who's right? It's almost like saying which child do you love more. But since I only have one child and don't have to make that call, I'll pick BK and his $375 sq ft theory. And I'll tell you why...



3) Irvine has nailed its brand identity in certain circles, much like LV or BMW has. A white dude like myself does not entirely get it --- while I really like Irivne, I could easily subsitute it for Aliso Viejo or Ladera Ranch, etc if I thought I was getting more bang for my buck there. But my 1.5 generation Taiwanese wife...no way. It's Irvine or bust for her, and for her LV-lovin' friends. I'm telling you folks, we go to a parties up in SGV, they gush about Irvine like its the promised land. "Oh, you guys live in IRVINE, its so nice there"; "Oh your daughter is so lucky to grow up in IRVINE"; "Oh you should buy down there now, prices will never drop that much in IRVINE". I'm not lying. If they have young kids or are planning kids, this is the place to be, hands down. And for the most part, these folks are the same ones we see putting 50% - 100% down payments in IPO and IR2's tracking sheets.



So as much as I would love to see $250 sq ft in the more desireable parts of Irvine, I fear its not going to happen. Something has changed with the branding of Irvine in the last decade, increasing its desireabilty with the school and safety crowd. I dunno, maybe its not Irvine that changed, but the rest of So Cal that has gotten crappier over time. I asked my wife about the Irvine of 1990-94 when she went to UCI: "It was ok, but nothing special and kind of in the boonies, and no good food". Hmm. But how about her feelings on 21st century Irvine? "It's got everything NOW, and so much more diverse --- it's like its not the same place". Sounds like Mr. Bren has done a good job of rebranding this place, at least for the smartest girl I know.



And oh, for those who say that Irvine can't compete with NB....I call BS on that. Irvine is not trying to compete with NB. It's going for another affluent group with a different set of values. Many people targeting Irvine probably would not even consider NB, even if they could afford it. That's another market there.</blockquote>


How many times does Irvine Renter have to point out that desire does not equal demand. This is the fatal flaw in all these Asians-are-going-to-prop-up-Irvine-home-prices theories. We are just coming off a decade long credit binge. Funny, I don't remember Asians ,or anyone for that matter, being LV/status obsessed in the OC prior to the credit bubble(with the exception of people that were truly wealthy). Judging from the high percentage of Irvine homes in some stage of foreclosure, Asians certainly are not immune from the credit squeeze. What I want to see is some evidence that there is large enough pool of Asians with $200k plus incomes to keep up Irvine sales over a extended period. Until then I'm calling further declines in Irvine home prices.</blockquote>


When I was in Irvine last month, I toured a short sale owned by a Korean. The listing agent (also Korean) was 30 minutes late for our appointment. He made us take off our shoes outside the door, which quickly became laughable once we got inside and saw how despicably filthy the place was. Our disgust quickly became horror when we got upstairs and found the carpet littered with landmines of dogshit, which one of my kids stepped in, of course. Which made me feel like taking the shit off the bottom of her foot, and slapping it in the face of the listing agent. [Why the hell make us take our shoes off?]



So yes, the asians are not immune. As for the poopy details - I just felt the need to get it off my chest.</blockquote>


That's a Korean thing-no shoes in the house. Period.
 
Desire will never equal affordability. If the average household income for Irvine really is 90-100K then what you see MUST be over priced. My wife and I are fresh out of college for 1 year and we make a middle 6 figure income with no debt. School, cars, and Coach handbags are paid for. I feel poor renting a one bedroom apartment in Irvine around the QH / TR area. Where are people getting the money to afford the the homes, let alone the LV and a Lambo? If you can point to something that is real, tangible, and factual I'll believe it. Show me the money! I'm not going to believe in the mythology of rich Asians, wealthy ancestors, law degrees, and a Ben Franklin printing press powered by unicorn farts! I do believe in insane financial products inflating a bubble designed and engineered to maximize the profits and benefits for the people at the top in a short sighted dash for personal wealth and self gratification.
 
[quote author="thedude" date=1242903716]Desire will never equal affordability. If the average household income for Irvine really is 90-100K then what you see MUST be over priced. My wife and I are fresh out of college for 1 year and we make a middle 6 figure income with no debt. School, cars, and Coach handbags are paid for. I feel poor renting a one bedroom apartment in Irvine around the QH / TR area. Where are people getting the money to afford the the homes, let alone the LV and a Lambo? If you can point to something that is real, tangible, and factual I'll believe it. Show me the money! I'm not going to believe in the mythology of rich Asians, wealthy ancestors, law degrees, and a Ben Franklin printing press powered by unicorn farts! I do believe in insane financial products inflating a bubble designed and engineered to maximize the profits and benefits for the people at the top in a short sighted dash for personal wealth and self gratification.</blockquote>


If you wanna know how much people are making here you go.



http://www.melissadata.com/lookups/taxzip.asp



Of course the reports figures are only available through 2006. I am guessing that incomes may have come down since then. Just a hunch.
 
What I've learned is people are more a like than different in regards to money. Everybody makes poor financial choices usually based on emotion. The purchases can differ greatly but it all comes down to trying to satisfy some insecurity. Time and time again the ending to the poor financial choices is always the same: change your ways or you're screwed. NOBODY is immune to the consequences of spending beyond their means.





BK, please show us the $$$$$$
 
[quote author="usctrojanman29" date=1242869284][quote author="reason" date=1242866593]Yeah, I actually like the smell of durian. Even when I was a child.</blockquote>
You are nuts, I was over in Thailand and that smell almost made me sick. I have wondered if it was the outside of it that made it smell or the inside???</blockquote>


The pungent smell is mostly from the inside of the fruit. Yes, as a kid I loved this fruit. I remember my mom would buy them from the open air market. The minute she cut open into this fruit. Ohhh....the smell. Loved it. Not kidding. I think it's all psychological. I mean if you know the smell is from a fruit then it must be ok. But if you think the smell is that of something else. Then your mind will make you react differently.
 
[quote author="thedude" date=1242903716]Desire will never equal affordability. If the average household income for Irvine really is 90-100K then what you see MUST be over priced. My wife and I are fresh out of college for 1 year and we make a middle 6 figure income with no debt. School, cars, and Coach handbags are paid for. I feel poor renting a one bedroom apartment in Irvine around the QH / TR area. Where are people getting the money to afford the the homes, let alone the LV and a Lambo? If you can point to something that is real, tangible, and factual I'll believe it. Show me the money! I'm not going to believe in the mythology of rich Asians, wealthy ancestors, law degrees, and a Ben Franklin printing press powered by unicorn farts! I do believe in insane financial products inflating a bubble designed and engineered to maximize the profits and benefits for the people at the top in a short sighted dash for personal wealth and self gratification.</blockquote>
Making low $100k doesn't go as far as most people would think....taxes, gas, rent, taxes, food, clothing, taxes, utilities, student loans, taxes...*sigh*
 
[quote author="thedude" date=1242903716]Desire will never equal affordability. If the average household income for Irvine really is 90-100K then what you see MUST be over priced. My wife and I are fresh out of college for 1 year and we make a middle 6 figure income with no debt. School, cars, and Coach handbags are paid for. I feel poor renting a one bedroom apartment in Irvine around the QH / TR area. Where are people getting the money to afford the the homes, let alone the LV and a Lambo? If you can point to something that is real, tangible, and factual I'll believe it. Show me the money! I'm not going to believe in the mythology of rich Asians, wealthy ancestors, law degrees, and a Ben Franklin printing press powered by unicorn farts! I do believe in insane financial products inflating a bubble designed and engineered to maximize the profits and benefits for the people at the top in a short sighted dash for personal wealth and self gratification.</blockquote>


huh? mid six figures and you feel poor? what are we talking about, $555,555? that's six figures right? and you have no debt? no student loans? no mortgage? no car payments? and you feel poor? Wow. I don't know what to say.
 
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