Sunday, February 10, 2008

Bluemove Exclusive - "Sell my Rolex to make the house payment"

My family frequents Ruby's on PCH in south Laguna. Some nice local tidbits were heard there this weekend. One family was discussing home mortage issues. A man of the heretofor well-off family declared: "I think I'll sell my Rolex to make the next house payment." "I might be able to buy another one in five years." My, my, doesn't that inspire confidence in the local house market. Buying I will not do.

By the way, Ruby's is an awesome place for families with kids. They have big booths and the staff takes orders quickly, so that food is delivered before the little ones get bored. Also, the paper car models that are given to the kids are fun little diversions that preserve mommy and daddy's time to enjoy a meal outside of the house. Hats off to Ruby's.

This is yet further buzz that supports the grim picture that real estate values in Laguna Beach are sinking fast. Laguna Beach can't fight the market and swim upstream - just like Orange County home prices are sinking, so goes moneyed Laguna Beach.

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