[barnaby33]

Of course, what else really matters?

Not sure if that was an attack or not, if so its pretty weak. As someone who was an admitted enabler of the fiasco we are now living through you hardly get to point the finger.

Just because I was too morally weak too lever up to the hilt last go-round, doesn’t mean I didn’t learn my lesson.

Josh

[barnaby33]

Of course, what else really matters?

Not sure if that was an attack or not, if so its pretty weak. As someone who was an admitted enabler of the fiasco we are now living through you hardly get to point the finger.

Just because I was too morally weak too lever up to the hilt last go-round, doesn’t mean I didn’t learn my lesson.

Josh

[barnaby33]

Of course, what else really matters?

Not sure if that was an attack or not, if so its pretty weak. As someone who was an admitted enabler of the fiasco we are now living through you hardly get to point the finger.

Just because I was too morally weak too lever up to the hilt last go-round, doesn’t mean I didn’t learn my lesson.

Josh

[barnaby33]

High interest rates do not mean high prices. High interest rates merely mean credit is scarce. Global wage arbitrage pretty much guarantees nobody is getting a big pay raise anytime soon. That was the 70’s.

High interest rates are your friend if you are a first time buyer. It means lower prices, not higher. Especially when combined with stricter lending standards which are sure to accompany the higher interest rates. Coming soon to an unwilling lender (who’s busy hoarding cash) near you!

Josh

[barnaby33]

High interest rates do not mean high prices. High interest rates merely mean credit is scarce. Global wage arbitrage pretty much guarantees nobody is getting a big pay raise anytime soon. That was the 70’s.

High interest rates are your friend if you are a first time buyer. It means lower prices, not higher. Especially when combined with stricter lending standards which are sure to accompany the higher interest rates. Coming soon to an unwilling lender (who’s busy hoarding cash) near you!

Josh

[barnaby33]

High interest rates do not mean high prices. High interest rates merely mean credit is scarce. Global wage arbitrage pretty much guarantees nobody is getting a big pay raise anytime soon. That was the 70’s.

High interest rates are your friend if you are a first time buyer. It means lower prices, not higher. Especially when combined with stricter lending standards which are sure to accompany the higher interest rates. Coming soon to an unwilling lender (who’s busy hoarding cash) near you!

Josh

[barnaby33]

High interest rates do not mean high prices. High interest rates merely mean credit is scarce. Global wage arbitrage pretty much guarantees nobody is getting a big pay raise anytime soon. That was the 70’s.

High interest rates are your friend if you are a first time buyer. It means lower prices, not higher. Especially when combined with stricter lending standards which are sure to accompany the higher interest rates. Coming soon to an unwilling lender (who’s busy hoarding cash) near you!

Josh

[barnaby33]

High interest rates do not mean high prices. High interest rates merely mean credit is scarce. Global wage arbitrage pretty much guarantees nobody is getting a big pay raise anytime soon. That was the 70’s.

High interest rates are your friend if you are a first time buyer. It means lower prices, not higher. Especially when combined with stricter lending standards which are sure to accompany the higher interest rates. Coming soon to an unwilling lender (who’s busy hoarding cash) near you!

Josh

[barnaby33]

In 2005 and 2006 San Diegans bought around 100,000 houses and condos. 25-30% of those had no equity in their houses to begin with (zero down). Every single one of these is distressed and non-recourse.

Actually only a first mortgage is non-recourse in Ca. Refinances, seconds and HELOCs are recourse. HELOCs are callable too.

Josh

[barnaby33]

In 2005 and 2006 San Diegans bought around 100,000 houses and condos. 25-30% of those had no equity in their houses to begin with (zero down). Every single one of these is distressed and non-recourse.

Actually only a first mortgage is non-recourse in Ca. Refinances, seconds and HELOCs are recourse. HELOCs are callable too.

Josh

[barnaby33]

In 2005 and 2006 San Diegans bought around 100,000 houses and condos. 25-30% of those had no equity in their houses to begin with (zero down). Every single one of these is distressed and non-recourse.

Actually only a first mortgage is non-recourse in Ca. Refinances, seconds and HELOCs are recourse. HELOCs are callable too.

Josh

[barnaby33]

In 2005 and 2006 San Diegans bought around 100,000 houses and condos. 25-30% of those had no equity in their houses to begin with (zero down). Every single one of these is distressed and non-recourse.

Actually only a first mortgage is non-recourse in Ca. Refinances, seconds and HELOCs are recourse. HELOCs are callable too.

Josh

[barnaby33]

In 2005 and 2006 San Diegans bought around 100,000 houses and condos. 25-30% of those had no equity in their houses to begin with (zero down). Every single one of these is distressed and non-recourse.

Actually only a first mortgage is non-recourse in Ca. Refinances, seconds and HELOCs are recourse. HELOCs are callable too.

Josh

[barnaby33]

Meanwhile, prudent savers have seen the interest on their savings drop from over 5% to 3-4% and declining.

Not if they got short. The fundamental lesson that should be developed from this whole crisis, is that the meaning of savings is changing. The rate at which things are considered investments is changing and that is not likely to slow down.

The only reason any investment isn’t a liability is that someone will give you something you want for it. Now sure, from time to time specific investments go out of favor, pets.com anyone? Whats changing now though are perceptions of whole classes of investment, to liability. To me, govt debt, which most people consider prudent savings is the worst “investment” after real estate. The govt has a vested interest in making sure it doesn’t pay those dollars back, in real terms, plus the ability to make it happen.

Prudent savers are those who see whats happening and adjust their outlook accordingly. I’m a prudent saver. I live below my modest means, and invest according to a belief that the fundamental nature of what is an investment is changing, hence the being short.

Josh

[barnaby33]

Meanwhile, prudent savers have seen the interest on their savings drop from over 5% to 3-4% and declining.

Not if they got short. The fundamental lesson that should be developed from this whole crisis, is that the meaning of savings is changing. The rate at which things are considered investments is changing and that is not likely to slow down.

The only reason any investment isn’t a liability is that someone will give you something you want for it. Now sure, from time to time specific investments go out of favor, pets.com anyone? Whats changing now though are perceptions of whole classes of investment, to liability. To me, govt debt, which most people consider prudent savings is the worst “investment” after real estate. The govt has a vested interest in making sure it doesn’t pay those dollars back, in real terms, plus the ability to make it happen.

Prudent savers are those who see whats happening and adjust their outlook accordingly. I’m a prudent saver. I live below my modest means, and invest according to a belief that the fundamental nature of what is an investment is changing, hence the being short.

Josh

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