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ParticipantBMWs are not great cars considering the money you pay for them. I can buy 2 mazdas that are just as much fun to drive for the same money and I’ll pay less to maintain them as well. Plus they will last just as long if not longer. And they are less likely to be stolen or broken into. As an added bonus, when you drive it into the service bay the dollar signs don’t light up in Pedro’s eyes when he sees you roll up so he won’t give you the rich guy surcharge.
One time I was at a bar here in town and I met a couple of guys visiting from Austria. They were very curious about what our apartments were like here, what kind of cars we drove, etc… When I told them I had a mazda, they were very impressed. I told them that here mazdas were considered crappy cars and that most people wanted BMWs; the guys looked at me incredulously and one of them said (and this is a direct quote) “I s**t on a Bee Em Vee! I vant a MAZDA!”
Still, if someone were to give me a 6-series I would certainly take it — that’s a sharp looking car.
ParticipantBMWs are not great cars considering the money you pay for them. I can buy 2 mazdas that are just as much fun to drive for the same money and I’ll pay less to maintain them as well. Plus they will last just as long if not longer. And they are less likely to be stolen or broken into. As an added bonus, when you drive it into the service bay the dollar signs don’t light up in Pedro’s eyes when he sees you roll up so he won’t give you the rich guy surcharge.
One time I was at a bar here in town and I met a couple of guys visiting from Austria. They were very curious about what our apartments were like here, what kind of cars we drove, etc… When I told them I had a mazda, they were very impressed. I told them that here mazdas were considered crappy cars and that most people wanted BMWs; the guys looked at me incredulously and one of them said (and this is a direct quote) “I s**t on a Bee Em Vee! I vant a MAZDA!”
Still, if someone were to give me a 6-series I would certainly take it — that’s a sharp looking car.
August 17, 2007 at 9:27 AM in reply to: Are we gonna experience the same Japanese Housing Burst at 1991? #76993Participantkewp, another important difference is that, to my knowledge, the loans in Japan were more traditional. That is to say, you didn’t have the case where someone’s payment doubled from one month to the next as the initial terms expired. These resets are what will force many of these people to turn in the keys, not the fact that they are lazy or corrupt or immoral (although they may well be!)
Also, with the new bankruptcy laws, getting out from under this debt maybe more difficult than in the past.
Just my $0.02…
August 17, 2007 at 9:27 AM in reply to: Are we gonna experience the same Japanese Housing Burst at 1991? #77115Participantkewp, another important difference is that, to my knowledge, the loans in Japan were more traditional. That is to say, you didn’t have the case where someone’s payment doubled from one month to the next as the initial terms expired. These resets are what will force many of these people to turn in the keys, not the fact that they are lazy or corrupt or immoral (although they may well be!)
Also, with the new bankruptcy laws, getting out from under this debt maybe more difficult than in the past.
Just my $0.02…
August 17, 2007 at 9:27 AM in reply to: Are we gonna experience the same Japanese Housing Burst at 1991? #77141Participantkewp, another important difference is that, to my knowledge, the loans in Japan were more traditional. That is to say, you didn’t have the case where someone’s payment doubled from one month to the next as the initial terms expired. These resets are what will force many of these people to turn in the keys, not the fact that they are lazy or corrupt or immoral (although they may well be!)
Also, with the new bankruptcy laws, getting out from under this debt maybe more difficult than in the past.
Just my $0.02…
August 17, 2007 at 9:08 AM in reply to: Are we gonna experience the same Japanese Housing Burst at 1991? #76972ParticipantThe US can’t afford to lower rates like Japan did. One huge difference between the US today and the Japan of the early 90s was that Japan didn’t have the trade deficit that the US does. For the US to avoid bankruptcy, it must import billions daily from overseas creditors. The only way it can do this is by paying a good return. Our monetary policy is effectively set by the countries who finance our extravagant spending.
August 17, 2007 at 9:08 AM in reply to: Are we gonna experience the same Japanese Housing Burst at 1991? #77094ParticipantThe US can’t afford to lower rates like Japan did. One huge difference between the US today and the Japan of the early 90s was that Japan didn’t have the trade deficit that the US does. For the US to avoid bankruptcy, it must import billions daily from overseas creditors. The only way it can do this is by paying a good return. Our monetary policy is effectively set by the countries who finance our extravagant spending.
August 17, 2007 at 9:08 AM in reply to: Are we gonna experience the same Japanese Housing Burst at 1991? #77120ParticipantThe US can’t afford to lower rates like Japan did. One huge difference between the US today and the Japan of the early 90s was that Japan didn’t have the trade deficit that the US does. For the US to avoid bankruptcy, it must import billions daily from overseas creditors. The only way it can do this is by paying a good return. Our monetary policy is effectively set by the countries who finance our extravagant spending.
ParticipantOriginal comment deleted — I just noticed that one side rents for $3800/mo. That’s pretty good but I don’t know if they’ll always be able to get that for only 1600sf.
Not sure what it’s worth, but I’ll tell you what it ain’t worth — 1.6M, that’s for sure.
ParticipantOriginal comment deleted — I just noticed that one side rents for $3800/mo. That’s pretty good but I don’t know if they’ll always be able to get that for only 1600sf.
Not sure what it’s worth, but I’ll tell you what it ain’t worth — 1.6M, that’s for sure.
ParticipantOriginal comment deleted — I just noticed that one side rents for $3800/mo. That’s pretty good but I don’t know if they’ll always be able to get that for only 1600sf.
Not sure what it’s worth, but I’ll tell you what it ain’t worth — 1.6M, that’s for sure.
ParticipantAllow me to pre-empt this thread by summarizing everything that will inevitably be posted in response to the original article. This way, we don’t have to waste time posting things here that aren’t going to change anyone’s mind anyway.
* Mister Smartypants Comptroller Man is just being an alarmist like the global warming/peak oil people because he wants to sell books and be on TV.
* Fighting terrorists is expensive! If we are running out of money then we need to get rid of Medicare/Social Security/Public Schools/The Police Department so that we can keep fighting them over there so we don’t have to fight them here.
* Who cares what happens to the US? I’ve already made MY MONEY and I’m gonna move to Brazil/Switzerland/Antarctica where everything is sexier/more efficient/much colder anyway!
* If Mister Smartypants Comptroller Man doesn’t like it here, why doesn’t he just get the hell out? Maybe he’d rather live in Iran — hey, just who is this guy working for anyway? Maybe he needs a little waterboarding hee hee.
* If there are problems, they’re all Bill Clinton/Al Gore/Michael Moore’s fault. Bill Clinton got a BJ hee hee and the girl was fat hee hee.
* Al Gore is a fat poo-poo head. And a liar.
Okay everyone, back to the housing threads. Nothing more to see (or say) here…
ParticipantAllow me to pre-empt this thread by summarizing everything that will inevitably be posted in response to the original article. This way, we don’t have to waste time posting things here that aren’t going to change anyone’s mind anyway.
* Mister Smartypants Comptroller Man is just being an alarmist like the global warming/peak oil people because he wants to sell books and be on TV.
* Fighting terrorists is expensive! If we are running out of money then we need to get rid of Medicare/Social Security/Public Schools/The Police Department so that we can keep fighting them over there so we don’t have to fight them here.
* Who cares what happens to the US? I’ve already made MY MONEY and I’m gonna move to Brazil/Switzerland/Antarctica where everything is sexier/more efficient/much colder anyway!
* If Mister Smartypants Comptroller Man doesn’t like it here, why doesn’t he just get the hell out? Maybe he’d rather live in Iran — hey, just who is this guy working for anyway? Maybe he needs a little waterboarding hee hee.
* If there are problems, they’re all Bill Clinton/Al Gore/Michael Moore’s fault. Bill Clinton got a BJ hee hee and the girl was fat hee hee.
* Al Gore is a fat poo-poo head. And a liar.
Okay everyone, back to the housing threads. Nothing more to see (or say) here…
ParticipantAllow me to pre-empt this thread by summarizing everything that will inevitably be posted in response to the original article. This way, we don’t have to waste time posting things here that aren’t going to change anyone’s mind anyway.
* Mister Smartypants Comptroller Man is just being an alarmist like the global warming/peak oil people because he wants to sell books and be on TV.
* Fighting terrorists is expensive! If we are running out of money then we need to get rid of Medicare/Social Security/Public Schools/The Police Department so that we can keep fighting them over there so we don’t have to fight them here.
* Who cares what happens to the US? I’ve already made MY MONEY and I’m gonna move to Brazil/Switzerland/Antarctica where everything is sexier/more efficient/much colder anyway!
* If Mister Smartypants Comptroller Man doesn’t like it here, why doesn’t he just get the hell out? Maybe he’d rather live in Iran — hey, just who is this guy working for anyway? Maybe he needs a little waterboarding hee hee.
* If there are problems, they’re all Bill Clinton/Al Gore/Michael Moore’s fault. Bill Clinton got a BJ hee hee and the girl was fat hee hee.
* Al Gore is a fat poo-poo head. And a liar.
Okay everyone, back to the housing threads. Nothing more to see (or say) here…
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