There is a great thing about being a renter, I'm not worried about my home's value. Thus, for a bit I didn't think much about the housing maket. I didn't have any inclination to blog.
Instead my time has been with friends. I want to congradulate my best friend Nick and his new bride Jen. Their wedding last weekend was incredible! Please join me in wishing them the best possible start to their new life together.
For life isn't always about the price of homes, inventory, stock markets, imploding loans, etc. Then again, the bears argument that if you put everything into your home, you just couldn't have a wedding like theirs: large, fun, and well done.
Do take time to go over to OCrenter's inventory blog. Its growing:
http://bubbletracking.blogspot.com/
Want some information from an honest realtor? Jim's blog has become a nearly daily look for me:
http://www.bubbleinfo.com/journal/
Don't miss taking an occasional look at the implode-o-meter. Who knows, maybe your lender is gone next?
http://ml-implode.com/
Oh, I'll get back into blogging. And the rumors at work are getting very interesting. They're starting to be very specific about which group is going to be moved out of state. (Thankfully, not mine, yet.)
One real estate thought I've had is what if the market stays flat? Then I do get moved out of state and thus I cannot lose.
If you're waiting for relocations to effect home prices, you have another 5 to 7 months of waiting. It won't be until then that the big moves (that I know about) start shuffling people. Yes, Lockheed and Boeing moved people to Colorado over the Christmas break... but that wasn't enough to make a difference. With more moves scheduled after school ends... we'll begin to see the impact then.
But it won't be much of an impact during 2007. What will happen is companies will simply get tired of waiting and thus plan the moves during 2007; they'll happen in 2008. Thus another reason I do not believe its wise to buy before fall of 2008. :)
I hope you've been enjoying yourself. My current job situation makes me feel lucky; its stable and pay is fair. Hopefully you're doing well too.
Neil
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2 comments:
Hi Neil,
Thanks for all your info. As a South Bay resident (and renter), I get a lot out of your blog. Please do keep us abreast to the rumors (if you just happen to find the time).
Take Care.
anon 8:13:00
Thanks! I will keep you abrest.
Right now the rumors are but that... rumors. We know the company is thinking of moving 3,000 to 12,000 people out of state. The current most believable rumor has to do with one of our product lines being obsoleced by a newer product line. Its not just performance, the new product will be cheaper to manufacture. :)
So... what to do with the old product line? The answer is re-optimize the production. :) But that requires more floor space. .. something too price in the south bay. :(
There are 1,400 jobs tied to the old product line. It makes sense to move a similar number along with them... will we?
Wait for the summer. That's when Lockheed is moving 1,000 engineers to Houston (for the shuttle replacement). Only then will the market "feel" the southbay job losses that are going on.
By next summer I expect quite a few more to be leaving... Most companies will announce a move and execute it over the Christmas or summer school breaks... So its going to be a step function.
Take it easy,
Neil
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