Get your yuppies! Get your red hot yuppies!
A little bird told me that the Vue guys are hoping to sell out the whole building this weekend, FYI. Who knows? When I took this picture yesterday, folks were lined up down the block.
life on the edge
daily musings about the oddities of san pedro, california.
Sunday, April 23, 2006
A little bird told me that the Vue guys are hoping to sell out the whole building this weekend, FYI. Who knows? When I took this picture yesterday, folks were lined up down the block.
11 Comments:
Yeah, I stumbled on it this afternoon (in fact, about ten minutes ago). I was really impressed with the diversity of the crowd--not just racial diversity, but a good variety of classes, types, and income levels. I think the Vue is really going to contribute the kind of complex interplay between neighbors and vibrant sidewalk life that makes urban living such a fascinating and rewarding experience.
I'm trying really hard to keep a straight face here. Is it working? Man, I don't think I've ever seen so many conspicuously affluent white people outside a golf course in my life. I thought it was a line to get tickets to a Prarie Home Companion broadcast. Sheesh.
I kid the European-Americans.
guess what? i hear carlyle is going to have an underground parking lot put in so the when the saudis come to town they can park their camels in them...
After waiting in line for ten minutes, I took the tour not expecting much. Needless to say it met my expectations. The complex won't even be open until mid-2008. 2 years! talk about counting your chickens before they hatch.
if i'm not mistaken, the height of the building hasn't been approved yet either...though i may be incorrect about that.
"During the Sales Event, you will have the opportunity to [purchase] your new home at a locked-in price. In addition, you will be required to sign a binding purchase contract."
Wow, this is my big chance! Real estate can only go up, right? All my friends say so! Well, one of them said something about rising inventory, and a 63% jump in foreclosures in LA, and some big George Clooney condo thing in Vegas going belly up, and flippers getting out of the game...but he's a weirdo. Always reading books and stuff. So, where do I sign?
Carlyle is a company with its tentacles in sooooo many things.
Watch this video (link) real media req.
by the way, the above video link is in dutch for the first two minutes, but in english after that...
Such a shame....
They could've used that space for another half-way house. Or some HUD housing.
BTW - Real Estate does go up, over the long haul. Sorry.
Then again, San Pedro may prove to be the exception to the rule....
Anonymous wrote:
They could've used that space for another half-way house. Or some HUD housing.
Or, you know, some affordable market rate apartments in a mixed-use setting. Apparently, some folks have never heard of such a thing. Or so it would seem, judging by the way they propose the exact same answer--luxury condos--to every underutilized patch of land.
Ha ha. I kid the CRA.
BTW - Real Estate does go up, over the long haul.
Indeed it does. Until it doesn't. Kind of like the sun, in that regard.
Sorry.
Don't be. I'm sure we'll find some other commodity to drive up to unsustainable prices in order to prop up the economy and create jobs after this thing takes a crap. If I may make a suggestion: can we please make it something nonessential again this time, like tulips or Pets.com stock?
I'll grant you your point about the affordable apartments. They're sorely needed.
I still don't get your comments about real estate though. I'll concede that it goes through its ups and downs, and the current market is due for a correction. But you seem to imply that it's a suckers bet. I realize that sarcasm doesn't always come across well on the internet, so maybe your comments were a bit tongue in cheek. Either way, I appreciate your comments.
If you're buying right now, you bet your ass it's a sucker's bet.
Real Estate in Los Angeles is overvalued by a good 60%, and the nationwide bubble is beginning to hiss. Even if real estate "always goes up in the long run," you're going to be waiting a long, long time to get out from being upside down on your mortgage, and all the while, unless you're spectacularly rich, you'll be paying at least half your monthly income on a property whose potential rental income doesn't come close to covering the monthly payment.
And if you're anything like the average American doofus, you took out some ridiculous adjustable rate / interest only / negative amortization loan, thinking that you could always sell (at a profit) if the payments got to be too much, because hey, real estate always goes up, right? Good luck juggling the monthly budget when that ARM resets next year. I guess the kids don't really need clothes.
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