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Ranjan.
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February 16, 2008 at 7:07 PM #154704February 16, 2008 at 7:33 PM #154336
kewp
ParticipantAll I’m saying is that given the *record* amount of foreclosures and personal bankruptcies (and getting worse) that people should be more cognizant of the risks involved with excessive leverage.
And really, the gravy train (easy credit/leverage) really is coming to a halt. No more NINJA loans, for example.
It’s perfectly reasonable to get ‘rich’, by anyones definition, with only a minimum of leverage. It just takes hard work and time.
Edit:Warren Buffet, probably the best investor of all time, on leverage:
Avoid leverage
The most dramatic way we protect ourselves is we don’t use leverage. We believe almost anything can happen in financial markets… [so] even smart people can get clobbered with leverage. It’s the one thing that can prevent you from playing out your hand.February 16, 2008 at 7:33 PM #154611kewp
ParticipantAll I’m saying is that given the *record* amount of foreclosures and personal bankruptcies (and getting worse) that people should be more cognizant of the risks involved with excessive leverage.
And really, the gravy train (easy credit/leverage) really is coming to a halt. No more NINJA loans, for example.
It’s perfectly reasonable to get ‘rich’, by anyones definition, with only a minimum of leverage. It just takes hard work and time.
Edit:Warren Buffet, probably the best investor of all time, on leverage:
Avoid leverage
The most dramatic way we protect ourselves is we don’t use leverage. We believe almost anything can happen in financial markets… [so] even smart people can get clobbered with leverage. It’s the one thing that can prevent you from playing out your hand.February 16, 2008 at 7:33 PM #154624kewp
ParticipantAll I’m saying is that given the *record* amount of foreclosures and personal bankruptcies (and getting worse) that people should be more cognizant of the risks involved with excessive leverage.
And really, the gravy train (easy credit/leverage) really is coming to a halt. No more NINJA loans, for example.
It’s perfectly reasonable to get ‘rich’, by anyones definition, with only a minimum of leverage. It just takes hard work and time.
Edit:Warren Buffet, probably the best investor of all time, on leverage:
Avoid leverage
The most dramatic way we protect ourselves is we don’t use leverage. We believe almost anything can happen in financial markets… [so] even smart people can get clobbered with leverage. It’s the one thing that can prevent you from playing out your hand.February 16, 2008 at 7:33 PM #154635kewp
ParticipantAll I’m saying is that given the *record* amount of foreclosures and personal bankruptcies (and getting worse) that people should be more cognizant of the risks involved with excessive leverage.
And really, the gravy train (easy credit/leverage) really is coming to a halt. No more NINJA loans, for example.
It’s perfectly reasonable to get ‘rich’, by anyones definition, with only a minimum of leverage. It just takes hard work and time.
Edit:Warren Buffet, probably the best investor of all time, on leverage:
Avoid leverage
The most dramatic way we protect ourselves is we don’t use leverage. We believe almost anything can happen in financial markets… [so] even smart people can get clobbered with leverage. It’s the one thing that can prevent you from playing out your hand.February 16, 2008 at 7:33 PM #154713kewp
ParticipantAll I’m saying is that given the *record* amount of foreclosures and personal bankruptcies (and getting worse) that people should be more cognizant of the risks involved with excessive leverage.
And really, the gravy train (easy credit/leverage) really is coming to a halt. No more NINJA loans, for example.
It’s perfectly reasonable to get ‘rich’, by anyones definition, with only a minimum of leverage. It just takes hard work and time.
Edit:Warren Buffet, probably the best investor of all time, on leverage:
Avoid leverage
The most dramatic way we protect ourselves is we don’t use leverage. We believe almost anything can happen in financial markets… [so] even smart people can get clobbered with leverage. It’s the one thing that can prevent you from playing out your hand.February 16, 2008 at 7:47 PM #154346HLS
ParticipantThe fact is that many people can still get approved with a back end debt ratio of 60% of their GROSS income…
I constantly tell people that just becuase they can get approved, doesn’t mean that they should buy a house…
esp when it’s cheaper to rent.The spin marketing in America has led people to believe that renting is throwing money away. It’s sickening, propaganda brought to you by the NAR and builders assn.
“it’s always a great time to buy reale estate” (Barf)There is a time when buying makes sense, but it’s still not that time in most areas of SD.
I have sent millions of dollars in loans away by telling people that I don’t think that they should buy, even when they are approved.
February 16, 2008 at 7:47 PM #154622HLS
ParticipantThe fact is that many people can still get approved with a back end debt ratio of 60% of their GROSS income…
I constantly tell people that just becuase they can get approved, doesn’t mean that they should buy a house…
esp when it’s cheaper to rent.The spin marketing in America has led people to believe that renting is throwing money away. It’s sickening, propaganda brought to you by the NAR and builders assn.
“it’s always a great time to buy reale estate” (Barf)There is a time when buying makes sense, but it’s still not that time in most areas of SD.
I have sent millions of dollars in loans away by telling people that I don’t think that they should buy, even when they are approved.
February 16, 2008 at 7:47 PM #154634HLS
ParticipantThe fact is that many people can still get approved with a back end debt ratio of 60% of their GROSS income…
I constantly tell people that just becuase they can get approved, doesn’t mean that they should buy a house…
esp when it’s cheaper to rent.The spin marketing in America has led people to believe that renting is throwing money away. It’s sickening, propaganda brought to you by the NAR and builders assn.
“it’s always a great time to buy reale estate” (Barf)There is a time when buying makes sense, but it’s still not that time in most areas of SD.
I have sent millions of dollars in loans away by telling people that I don’t think that they should buy, even when they are approved.
February 16, 2008 at 7:47 PM #154645HLS
ParticipantThe fact is that many people can still get approved with a back end debt ratio of 60% of their GROSS income…
I constantly tell people that just becuase they can get approved, doesn’t mean that they should buy a house…
esp when it’s cheaper to rent.The spin marketing in America has led people to believe that renting is throwing money away. It’s sickening, propaganda brought to you by the NAR and builders assn.
“it’s always a great time to buy reale estate” (Barf)There is a time when buying makes sense, but it’s still not that time in most areas of SD.
I have sent millions of dollars in loans away by telling people that I don’t think that they should buy, even when they are approved.
February 16, 2008 at 7:47 PM #154723HLS
ParticipantThe fact is that many people can still get approved with a back end debt ratio of 60% of their GROSS income…
I constantly tell people that just becuase they can get approved, doesn’t mean that they should buy a house…
esp when it’s cheaper to rent.The spin marketing in America has led people to believe that renting is throwing money away. It’s sickening, propaganda brought to you by the NAR and builders assn.
“it’s always a great time to buy reale estate” (Barf)There is a time when buying makes sense, but it’s still not that time in most areas of SD.
I have sent millions of dollars in loans away by telling people that I don’t think that they should buy, even when they are approved.
February 16, 2008 at 8:25 PM #154360bsrsharma
Participantthere are still programs for 100% purchases, and there are still stated income loans, IF you qualify…
That is a teaser! Who in this day wants to give away money for 100% and stated income, knowing full well the incentives for "Heads I win, tails you lose" mindset of many home buyers?
February 16, 2008 at 8:25 PM #154637bsrsharma
Participantthere are still programs for 100% purchases, and there are still stated income loans, IF you qualify…
That is a teaser! Who in this day wants to give away money for 100% and stated income, knowing full well the incentives for "Heads I win, tails you lose" mindset of many home buyers?
February 16, 2008 at 8:25 PM #154649bsrsharma
Participantthere are still programs for 100% purchases, and there are still stated income loans, IF you qualify…
That is a teaser! Who in this day wants to give away money for 100% and stated income, knowing full well the incentives for "Heads I win, tails you lose" mindset of many home buyers?
February 16, 2008 at 8:25 PM #154660bsrsharma
Participantthere are still programs for 100% purchases, and there are still stated income loans, IF you qualify…
That is a teaser! Who in this day wants to give away money for 100% and stated income, knowing full well the incentives for "Heads I win, tails you lose" mindset of many home buyers?
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