“INVESTORS” who haven’t learned their lessons?

[peterb]

I’m not disagreeing that higher priced property is in for a big drop. But, my point is to look at the macro picture and extrapolate from the situation.It’s not a stretch to go much further. Odds of any prices increasing are bad for quite a while. So they go sideways or down. Not an investment I want to be in on.

CA unemployment at 11.3% and growing. Worst in post WII history. Next stop 1930’s?
The state of CA is about to lay-off thousands of employees. That may have some downward pressure on all levels of housing as well?

[scaredyclassic]

previously said: I always wonder what it is that makes someone who rents because they don’t have enough money to be a 500k house smarter than someone who has made millions of dollars investing. There have been so many in here who fit this critiquing wealthy investors for what they do. This is like a 36 handicap golfer criticizing Tiger Woods.

anyone who avoided buying a house in 03-07 amidst the deafening real estate blather and rented had to have had a fairly clear view of reality and a strong constitution. So, no, maybe not smarter, but stronger in some ways, based on an ability to go contrary what the herd said. doesn’t make one rich, doesn’t mean much in the overall scheme, really, but certainly doesn’t mean one is dumb for having stood their ground. it’s not like some claim that im richer than buffett or smarter than soros, just that, hell, I made one decent call in my life, and it was a tough call to make — middle class dude with kids resisting all kindsa pressure from all sides to buy a dmaned house. i take pride in that decision, that clarity, so, yeah, I’m cagier than a lotta dopes! just cause someone’s made a buncha money int he past means they’re any smarter than me!

[scaredyclassic]

previously said: I always wonder what it is that makes someone who rents because they don’t have enough money to be a 500k house smarter than someone who has made millions of dollars investing. There have been so many in here who fit this critiquing wealthy investors for what they do. This is like a 36 handicap golfer criticizing Tiger Woods.

anyone who avoided buying a house in 03-07 amidst the deafening real estate blather and rented had to have had a fairly clear view of reality and a strong constitution. So, no, maybe not smarter, but stronger in some ways, based on an ability to go contrary what the herd said. doesn’t make one rich, doesn’t mean much in the overall scheme, really, but certainly doesn’t mean one is dumb for having stood their ground. it’s not like some claim that im richer than buffett or smarter than soros, just that, hell, I made one decent call in my life, and it was a tough call to make — middle class dude with kids resisting all kindsa pressure from all sides to buy a dmaned house. i take pride in that decision, that clarity, so, yeah, I’m cagier than a lotta dopes! just cause someone’s made a buncha money int he past means they’re any smarter than me!

[scaredyclassic]

previously said: I always wonder what it is that makes someone who rents because they don’t have enough money to be a 500k house smarter than someone who has made millions of dollars investing. There have been so many in here who fit this critiquing wealthy investors for what they do. This is like a 36 handicap golfer criticizing Tiger Woods.

anyone who avoided buying a house in 03-07 amidst the deafening real estate blather and rented had to have had a fairly clear view of reality and a strong constitution. So, no, maybe not smarter, but stronger in some ways, based on an ability to go contrary what the herd said. doesn’t make one rich, doesn’t mean much in the overall scheme, really, but certainly doesn’t mean one is dumb for having stood their ground. it’s not like some claim that im richer than buffett or smarter than soros, just that, hell, I made one decent call in my life, and it was a tough call to make — middle class dude with kids resisting all kindsa pressure from all sides to buy a dmaned house. i take pride in that decision, that clarity, so, yeah, I’m cagier than a lotta dopes! just cause someone’s made a buncha money int he past means they’re any smarter than me!

[scaredyclassic]

previously said: I always wonder what it is that makes someone who rents because they don’t have enough money to be a 500k house smarter than someone who has made millions of dollars investing. There have been so many in here who fit this critiquing wealthy investors for what they do. This is like a 36 handicap golfer criticizing Tiger Woods.

anyone who avoided buying a house in 03-07 amidst the deafening real estate blather and rented had to have had a fairly clear view of reality and a strong constitution. So, no, maybe not smarter, but stronger in some ways, based on an ability to go contrary what the herd said. doesn’t make one rich, doesn’t mean much in the overall scheme, really, but certainly doesn’t mean one is dumb for having stood their ground. it’s not like some claim that im richer than buffett or smarter than soros, just that, hell, I made one decent call in my life, and it was a tough call to make — middle class dude with kids resisting all kindsa pressure from all sides to buy a dmaned house. i take pride in that decision, that clarity, so, yeah, I’m cagier than a lotta dopes! just cause someone’s made a buncha money int he past means they’re any smarter than me!

[scaredyclassic]

previously said: I always wonder what it is that makes someone who rents because they don’t have enough money to be a 500k house smarter than someone who has made millions of dollars investing. There have been so many in here who fit this critiquing wealthy investors for what they do. This is like a 36 handicap golfer criticizing Tiger Woods.

anyone who avoided buying a house in 03-07 amidst the deafening real estate blather and rented had to have had a fairly clear view of reality and a strong constitution. So, no, maybe not smarter, but stronger in some ways, based on an ability to go contrary what the herd said. doesn’t make one rich, doesn’t mean much in the overall scheme, really, but certainly doesn’t mean one is dumb for having stood their ground. it’s not like some claim that im richer than buffett or smarter than soros, just that, hell, I made one decent call in my life, and it was a tough call to make — middle class dude with kids resisting all kindsa pressure from all sides to buy a dmaned house. i take pride in that decision, that clarity, so, yeah, I’m cagier than a lotta dopes! just cause someone’s made a buncha money int he past means they’re any smarter than me!

[Nor-LA-SD-guy]

[quote=Chris Scoreboard Johnston]I have to point something out here. The comments about people in here being ahead of the curve is inaccurate. There is very much of an overall extreme herd mentality in here. Anyone doing something they don’t agree with is an idiot. Corrections always over correct ( this statement clearly is made by people with no understanding of statistics ).

I always wonder what it is that makes someone who rents because they don’t have enough money to be a 500k house smarter than someone who has made millions of dollars investing. There have been so many in here who fit this critiquing wealthy investors for what they do. This is like a 36 handicap golfer criticizing Tiger Woods.

I have no idea if people investing in RE here and now are timing this right, I think they are pretty close in terms of price maybe not in time. I do know that the majority of the people here will miss the opportunity to buy at good levels by having the day trader mentality with all of this.

This continues to be a good place to fade the consensus in spite of several exceptions of very sharp people in here. The overall sentiment in here is pretty typical of the US as a whole in my view and that is how I use it, to fade it.[/quote]

Hmmm, Most of these people Sold (or at least did not buy) near the record high price and bought near current price levels, …. And either it is their primary residence or is cash flow ++

Herd I think not, (well at least most pigg’s anyway).

But Yea sometimes with things like Gold and Oil maybe I saw some herding here and there. They would probably be better served sticking to RE as a subject,.

[Nor-LA-SD-guy]

[quote=Chris Scoreboard Johnston]I have to point something out here. The comments about people in here being ahead of the curve is inaccurate. There is very much of an overall extreme herd mentality in here. Anyone doing something they don’t agree with is an idiot. Corrections always over correct ( this statement clearly is made by people with no understanding of statistics ).

I always wonder what it is that makes someone who rents because they don’t have enough money to be a 500k house smarter than someone who has made millions of dollars investing. There have been so many in here who fit this critiquing wealthy investors for what they do. This is like a 36 handicap golfer criticizing Tiger Woods.

I have no idea if people investing in RE here and now are timing this right, I think they are pretty close in terms of price maybe not in time. I do know that the majority of the people here will miss the opportunity to buy at good levels by having the day trader mentality with all of this.

This continues to be a good place to fade the consensus in spite of several exceptions of very sharp people in here. The overall sentiment in here is pretty typical of the US as a whole in my view and that is how I use it, to fade it.[/quote]

Hmmm, Most of these people Sold (or at least did not buy) near the record high price and bought near current price levels, …. And either it is their primary residence or is cash flow ++

Herd I think not, (well at least most pigg’s anyway).

But Yea sometimes with things like Gold and Oil maybe I saw some herding here and there. They would probably be better served sticking to RE as a subject,.

[Nor-LA-SD-guy]

[quote=Chris Scoreboard Johnston]I have to point something out here. The comments about people in here being ahead of the curve is inaccurate. There is very much of an overall extreme herd mentality in here. Anyone doing something they don’t agree with is an idiot. Corrections always over correct ( this statement clearly is made by people with no understanding of statistics ).

I always wonder what it is that makes someone who rents because they don’t have enough money to be a 500k house smarter than someone who has made millions of dollars investing. There have been so many in here who fit this critiquing wealthy investors for what they do. This is like a 36 handicap golfer criticizing Tiger Woods.

I have no idea if people investing in RE here and now are timing this right, I think they are pretty close in terms of price maybe not in time. I do know that the majority of the people here will miss the opportunity to buy at good levels by having the day trader mentality with all of this.

This continues to be a good place to fade the consensus in spite of several exceptions of very sharp people in here. The overall sentiment in here is pretty typical of the US as a whole in my view and that is how I use it, to fade it.[/quote]

Hmmm, Most of these people Sold (or at least did not buy) near the record high price and bought near current price levels, …. And either it is their primary residence or is cash flow ++

Herd I think not, (well at least most pigg’s anyway).

But Yea sometimes with things like Gold and Oil maybe I saw some herding here and there. They would probably be better served sticking to RE as a subject,.

[Nor-LA-SD-guy]

[quote=Chris Scoreboard Johnston]I have to point something out here. The comments about people in here being ahead of the curve is inaccurate. There is very much of an overall extreme herd mentality in here. Anyone doing something they don’t agree with is an idiot. Corrections always over correct ( this statement clearly is made by people with no understanding of statistics ).

I always wonder what it is that makes someone who rents because they don’t have enough money to be a 500k house smarter than someone who has made millions of dollars investing. There have been so many in here who fit this critiquing wealthy investors for what they do. This is like a 36 handicap golfer criticizing Tiger Woods.

I have no idea if people investing in RE here and now are timing this right, I think they are pretty close in terms of price maybe not in time. I do know that the majority of the people here will miss the opportunity to buy at good levels by having the day trader mentality with all of this.

This continues to be a good place to fade the consensus in spite of several exceptions of very sharp people in here. The overall sentiment in here is pretty typical of the US as a whole in my view and that is how I use it, to fade it.[/quote]

Hmmm, Most of these people Sold (or at least did not buy) near the record high price and bought near current price levels, …. And either it is their primary residence or is cash flow ++

Herd I think not, (well at least most pigg’s anyway).

But Yea sometimes with things like Gold and Oil maybe I saw some herding here and there. They would probably be better served sticking to RE as a subject,.

[Nor-LA-SD-guy]

[quote=Chris Scoreboard Johnston]I have to point something out here. The comments about people in here being ahead of the curve is inaccurate. There is very much of an overall extreme herd mentality in here. Anyone doing something they don’t agree with is an idiot. Corrections always over correct ( this statement clearly is made by people with no understanding of statistics ).

I always wonder what it is that makes someone who rents because they don’t have enough money to be a 500k house smarter than someone who has made millions of dollars investing. There have been so many in here who fit this critiquing wealthy investors for what they do. This is like a 36 handicap golfer criticizing Tiger Woods.

I have no idea if people investing in RE here and now are timing this right, I think they are pretty close in terms of price maybe not in time. I do know that the majority of the people here will miss the opportunity to buy at good levels by having the day trader mentality with all of this.

This continues to be a good place to fade the consensus in spite of several exceptions of very sharp people in here. The overall sentiment in here is pretty typical of the US as a whole in my view and that is how I use it, to fade it.[/quote]

Hmmm, Most of these people Sold (or at least did not buy) near the record high price and bought near current price levels, …. And either it is their primary residence or is cash flow ++

Herd I think not, (well at least most pigg’s anyway).

But Yea sometimes with things like Gold and Oil maybe I saw some herding here and there. They would probably be better served sticking to RE as a subject,.

[peterb]

Yes, I think this herd has been starting to buy in the last year or so. Starting with TG. Then others have begun to be infected as well. I’ve been checking this site for about 2 years and it has become much more pro-purchase than when I first came here. I’d say it’s up to maybe 30% in favor of buying now.

[peterb]

Yes, I think this herd has been starting to buy in the last year or so. Starting with TG. Then others have begun to be infected as well. I’ve been checking this site for about 2 years and it has become much more pro-purchase than when I first came here. I’d say it’s up to maybe 30% in favor of buying now.

[peterb]

Yes, I think this herd has been starting to buy in the last year or so. Starting with TG. Then others have begun to be infected as well. I’ve been checking this site for about 2 years and it has become much more pro-purchase than when I first came here. I’d say it’s up to maybe 30% in favor of buying now.

[peterb]

Yes, I think this herd has been starting to buy in the last year or so. Starting with TG. Then others have begun to be infected as well. I’ve been checking this site for about 2 years and it has become much more pro-purchase than when I first came here. I’d say it’s up to maybe 30% in favor of buying now.

[Author]

Posts