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bsrsharma
Participantdipping into the old guy's Del MAr or LaJolla equity to fund a LaCosta condo purchase.
What a dumb idea when they could've got 100% cheap loans when the party lasted.
August 15, 2007 at 3:10 PM in reply to: Federal Reserve poised to pump more money into markets #75824ParticipantThey get the money by printing it. It's all on paper. And then we go deeper into national debt which rests on the backs of taxpayers
Shiloh,
Fed money supply is pure inflation. There is no national debt implication there. If anything, the national debt comes down in real terms since the money is debased. That is why exchange rate of $ falls.
Think of national debt as your mortgage or credit card debt. Now think of Fed's money supply as a color laser printer in your bedroom printing counterfeit money. You won't increase your debt by printing your own money. The only difference here is what Fed is doing is legal while if you do it you quickly end up in jail!
August 15, 2007 at 3:10 PM in reply to: Federal Reserve poised to pump more money into markets #75942ParticipantThey get the money by printing it. It's all on paper. And then we go deeper into national debt which rests on the backs of taxpayers
Shiloh,
Fed money supply is pure inflation. There is no national debt implication there. If anything, the national debt comes down in real terms since the money is debased. That is why exchange rate of $ falls.
Think of national debt as your mortgage or credit card debt. Now think of Fed's money supply as a color laser printer in your bedroom printing counterfeit money. You won't increase your debt by printing your own money. The only difference here is what Fed is doing is legal while if you do it you quickly end up in jail!
August 15, 2007 at 3:10 PM in reply to: Federal Reserve poised to pump more money into markets #75944ParticipantThey get the money by printing it. It's all on paper. And then we go deeper into national debt which rests on the backs of taxpayers
Shiloh,
Fed money supply is pure inflation. There is no national debt implication there. If anything, the national debt comes down in real terms since the money is debased. That is why exchange rate of $ falls.
Think of national debt as your mortgage or credit card debt. Now think of Fed's money supply as a color laser printer in your bedroom printing counterfeit money. You won't increase your debt by printing your own money. The only difference here is what Fed is doing is legal while if you do it you quickly end up in jail!
Participantthey will drop to at least 500k during the next two years
Two years? Anyone who offers much more than 500K right now for anything (other than multimillion $ palaces) is a moron. With mortgage applications failing all around, there is simply no competition.
Participantthey will drop to at least 500k during the next two years
Two years? Anyone who offers much more than 500K right now for anything (other than multimillion $ palaces) is a moron. With mortgage applications failing all around, there is simply no competition.
Participantthey will drop to at least 500k during the next two years
Two years? Anyone who offers much more than 500K right now for anything (other than multimillion $ palaces) is a moron. With mortgage applications failing all around, there is simply no competition.
ParticipantStan,
My model is working as I described. When there is no money, motivated sellers drop price to make the deal. See the 5% loss in one go below.
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The Chicago Tribune reports from Illinois. “The residential real estate industry is bracing for more complications and the potential for collapsed sales agreements because of global credit crunch fears. Last week, North Side broker Beth Ryan said a seller she represents accepted $25,000 less for his $500,000 house after another offer fell through when the would-be buyer was shut out of a mortgage.”
“‘Their credit score was 580 and, as of last Tuesday, their broker said they could have gotten a loan approved for 3 percent down,’ Ryan said. ‘But then standards tightened and he said no one would touch that deal.’”
“‘If you have [a preapproval] from last week, you can rip that up’ because conditions are changing daily, said mortgage broker Kit Mueller.” ….
——————————————————–ParticipantStan,
My model is working as I described. When there is no money, motivated sellers drop price to make the deal. See the 5% loss in one go below.
———————————————————
The Chicago Tribune reports from Illinois. “The residential real estate industry is bracing for more complications and the potential for collapsed sales agreements because of global credit crunch fears. Last week, North Side broker Beth Ryan said a seller she represents accepted $25,000 less for his $500,000 house after another offer fell through when the would-be buyer was shut out of a mortgage.”
“‘Their credit score was 580 and, as of last Tuesday, their broker said they could have gotten a loan approved for 3 percent down,’ Ryan said. ‘But then standards tightened and he said no one would touch that deal.’”
“‘If you have [a preapproval] from last week, you can rip that up’ because conditions are changing daily, said mortgage broker Kit Mueller.” ….
——————————————————–ParticipantStan,
My model is working as I described. When there is no money, motivated sellers drop price to make the deal. See the 5% loss in one go below.
———————————————————
The Chicago Tribune reports from Illinois. “The residential real estate industry is bracing for more complications and the potential for collapsed sales agreements because of global credit crunch fears. Last week, North Side broker Beth Ryan said a seller she represents accepted $25,000 less for his $500,000 house after another offer fell through when the would-be buyer was shut out of a mortgage.”
“‘Their credit score was 580 and, as of last Tuesday, their broker said they could have gotten a loan approved for 3 percent down,’ Ryan said. ‘But then standards tightened and he said no one would touch that deal.’”
“‘If you have [a preapproval] from last week, you can rip that up’ because conditions are changing daily, said mortgage broker Kit Mueller.” ….
——————————————————–ParticipantDon’t they all already do that sort of thing? Hold stuff for a while till you get money (I haven’t used it, so I don’t know)
ParticipantDon’t they all already do that sort of thing? Hold stuff for a while till you get money (I haven’t used it, so I don’t know)
ParticipantDon’t they all already do that sort of thing? Hold stuff for a while till you get money (I haven’t used it, so I don’t know)
ParticipantAbout half the country is running on fumes. This is not some blip. These are some quotes:
“It’s a red flag,” said Jay Bryson, global economist at Wachovia. “If consumer spending starts to weaken, the overall outlook for economic growth will diminish.”
That, Wal-Mart executives said, is precisely what has begun to happen in its 4,000 United States stores over the last three months — even after the chain cut prices on 16,000 products this summer.
“Many customers are running out of money at the end of the month,” said H. Lee Scott Jr., the chief executive of Wal-Mart.
Mr. Scott said Wal-Mart’s shoppers, who generally earn less than $40,000 a household, are “under difficult pressure economically.”
He added that “the paycheck cycle is more pronounced now than ever before,” meaning that customers are left with little cash by the end of the month.
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