OT: What really troubles me if Obama wins

[Hobie]

Justice Holder
Justice Warren
Justice Hillary

[spdrun]

Fine by me.

[Coronita]

I’m happy. GOP maintains House.

So we have a shot at a balanced government when Obama gets re-elected…

[ucodegen]

[quote=flu]I’m happy. GOP maintains House.

So we have a shot at a balanced government when Obama gets re-elected…[/quote]And the effect of QE upon QE upon QE + taxes to support all the new programs, the full effect of Obamacare in 2014,+ all will fall on his watch. Its gonna be a bumpy ride… might want to read article from Pacific Capital – whom Rich Toscano now works with.. try this one: http://www.pcasd.com/content/no-exit-real-danger-feds-easy-money-policies

[an]

Well, at very least, we can probably say we’ll see low mortgage rates for awhile.

[ucodegen]

[quote=AN]Well, at very least, we can probably say we’ll see low mortgage rates for awhile.[/quote]But when they turn around, it is likely to be violent/rapid. (Even more inflationary pressure built up – late Fed response to inflation..)

[an]

[quote=ucodegen][quote=AN]Well, at very least, we can probably say we’ll see low mortgage rates for awhile.[/quote]But when they turn around, it is likely to be violent/rapid. (Even more inflationary pressure built up – late Fed response to inflation..)[/quote]
That’s OK, I’m on fixed rate mortgage. What happened to housing price the last time rates went up violently/rapidly? If rate does go up violently/rapidly, at least I can say the money I have in savings and CD would start making something again. Also, I would love to do those 0% balance transfer and stuff it in CD making 5-6% again. I did that pretty successfully several years back.

[scaredyclassic]

i also did that 0% credit card arbitrage game for years. had about 40,000 at any given time. wasn’t a lot of money but itwas a nice little bonus. once you had your system set up it was no workat all. would’ve been awesome to have 400,000 in credit to work with…

[svelte]

Supreme Court nominations over the next 4 years is one of the major reasons I supported Obama this go-round.

[zk]

[quote=svelte]Supreme Court nominations over the next 4 years is one of the major reasons I supported Obama this go-round.[/quote]

+1

[an]

[quote=squat250]i also did that 0% credit card arbitrage game for years. had about 40,000 at any given time. wasn’t a lot of money but itwas a nice little bonus. once you had your system set up it was no workat all. would’ve been awesome to have 400,000 in credit to work with…[/quote]
My numbers was around $40-50k too. You’re right, it wasn’t huge, but that $2k a year “bonus” is great for paying for a nice family trip, all for 0% risk. Like you said, once you did it once, it really only takes like 5 minutes to do it again. I’m definitely shooting for the moon if the bank loosen up again. $400k-500k would be awesome.

[Coronita]

[quote=AN][quote=squat250]i also did that 0% credit card arbitrage game for years. had about 40,000 at any given time. wasn’t a lot of money but itwas a nice little bonus. once you had your system set up it was no workat all. would’ve been awesome to have 400,000 in credit to work with…[/quote]
My numbers was around $40-50k too. You’re right, it wasn’t huge, but that $2k a year “bonus” is great for paying for a nice family trip, all for 0% risk. Like you said, once you did it once, it really only takes like 5 minutes to do it again. I’m definitely shooting for the moon if the bank loosen up again. $400k-500k would be awesome.[/quote]

I think more appropriately moving forward will do a maximum cash out refinance, and tuck that money into a tax sheltered/deferred account…

That’s what rich people do…They don’t realize capital gains if they can avoid it during a tax unfriendly year(s). They ask the bank for a loan, use the loan instead of realizing capital gains now, and then use the loan for reinvestment. Look at what Facebook founder is doing to pay for his pad. He’s taking out a cheap loan….

I hope I’m right and we see the stock market tanks all the way until the end of the year… I hope we have falling rates, and I hope that this down market wipes out the investment spirit during the first quarter of 2013, so that we can get some decent inventory locally again for the first quarter in 2013……..

[an]

[quote=flu]I think more appropriately moving forward will do a maximum cash out refinance, and tuck that money into a tax sheltered/deferred account…

That’s what rich people do…They don’t realize capital gains if they can avoid it during a tax unfriendly year(s). They ask the bank for a loan, use the loan instead of realizing capital gains now, and then use the loan for reinvestment. Look at what Facebook founder is doing to pay for his pad. He’s taking out a cheap loan….

I hope the stock market tanks all the way until the end of the year… I hope we have falling rates, and I hope that this down market wipes out the investment spirit so that we can get some decent inventory locally again for the first quarter in 2013……..[/quote]I’m already doing that. I hope you’re switching to 30 years from a 15 years loan. Why pay a cent more and a day quicker when interest rate is near 0%.

I like how you’re thinking flu regarding inventory. I hope the market crash and burn too, for similar reason you stated. Not only that, but I just got in on some soxs and spxs :-).

[livinincali]

[quote=flu]
I hope I’m right and we see the stock market tanks all the way until the end of the year… I hope we have falling rates, and I hope that this down market wipes out the investment spirit during the first quarter of 2013, so that we can get some decent inventory locally again for the first quarter in 2013……..[/quote]

I’d probably wait until one of these Single Family investment hedge funds blows up 3-5 years down the road. That will be an interesting forced liquidation. Thousands of rental properties to be liquidated, although I don’t think we’ll see much in San Diego though. It will probably be Las Vegas or Phoenix where the implosion happens.

[Coronita]

[quote=livinincali][quote=flu]
I hope I’m right and we see the stock market tanks all the way until the end of the year… I hope we have falling rates, and I hope that this down market wipes out the investment spirit during the first quarter of 2013, so that we can get some decent inventory locally again for the first quarter in 2013……..[/quote]

I’d probably wait until one of these Single Family investment hedge funds blows up 3-5 years down the road. That will be an interesting forced liquidation. Thousands of rental properties to be liquidated, although I don’t think we’ll see much in San Diego though. It will probably be Las Vegas or Phoenix where the implosion happens.[/quote]

I’m more interested in seeing how the state taxes hike across the board is gonna put less money into average j6p pocket…making them perpetual renters…

After all, those incremental 1% or 2% tax for the top income earners isn’t probably gonna make nearly as bad a dent as the sales tax is gonna be for average j6p

but hey, it’s what the people wanted… so cool….

Then again with a super demo government, we could see more moratorium after moratorium…So who knows…..

Only in Kalifornia in Amerika…

[Author]

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