Sunday, December 09, 2007

Blogger party 2

We had the dinner at the Il Fornaio in Old Town Pasadena last night and I call it a success. Eight fellow bearish bloggers showed up and we had a great night! No photos this time.

Discussions covered a variety of topics. TJ kept things going by bring a library of books to discuss. I was one of several who now have a bit of reading to catch up on.

One topic of the evening is other states and why they are getting hit so much harder than California. Its not that its different here, but rather why certain areas had a far more fragile bubble to pop.

Many of us discussed our buying criteria and when/where we might move to. This led to myself once again talking about aerospace job movements.

The topic of recession or depression once again came up. Basically we concluded that we could survive a depression and that certain parts of life should just go on.

Now it wouldn't have been a bearish dinner without talking about other 'non housing bubble people's' opinion on the current market. We all knew someone buying. We also all know people trying to sell. The consensus was wait. Some were already low balling (but having offers rejected). Others are far on the sidelines.

We all agreed this had years to run. How long? That wasn't agreed upon. But it was educational to discuss. As more than one at the table noted, one reason to have the conversation is to see the various sides to the conversation. :)

It was fun! I'll definitely do more dinners in 2008.

Got popcorn?
Neil

6 comments:

tj & the bear said...

Speaking for myself, enjoyed it thoroughly!

p.s.: The wife's a keeper. Isn't it amazing how us geeks get the babes (and smart ones at that)?

bearmaster said...

Neil, we enjoyed it thoroughly! It's great to meet with like-minded people equally frustrated at the economic stupidity that surrounds us. The restaurant was outstanding. I am looking forward to more dinners with you, Nancy, and other housing bears out there.

And I love your "Got popcorn?" signature.

Rob Dawg said...

I will try to get to the next one. If only for this geek to show off his smart babe catch. ;-)

Other states are getting creamed according to formula. It is hard to see because at inflection points there is so much froth. California has already had two nasty high growth period economic dislocations and is thus already toughened against what is happening. Las Vegas, Phoenix and parts of Florida are getting their first or second hit.

With the Feds so willing to meddle I am forestalling my reentry into the market for another year from plan.

wannabuy said...

Definately a great time.

My 'reentry into market' has been stalled too. I've always been advocating that I'd probably enter the market earlier than the bottom... but the bottom is so far away, I'll wait.

2008 will be interesting.

Got popcorn?
Neil

Rob Dawg said...

I too will hopefully be reentering before the bottom. My criteria are not exclusively price but returns while re-pricing goes on. $1200/mo in rent goes a long way towards making a risky $40,000-$60,000 transaction look better.

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