[Coronita]

fat_lazy, I hate to break it to you but your street is not the sine qua non of life in San Diego.

People may not sell on your block but there will be plenty of deals out there that will make your purchase seem like an albatross.

It would be like paying today's prices for a 10 year old Mercedes. Give it 15 more year and the purchase won't look so bad.

 

I don't claim it to be. I was just pointing out most newer home owners that entered at a higher price will be more susseptiable to leaving and calling quits. If you have some family that's been living in the same house since 98, well then a 50% drop means nothing for a primary home imho. They're not going to sell to be foreclosed because they could buy something else equivalent. Doesn't make sense. There are exceptions to the rules, as a few families will go through unusual hardships, a few will be mismanaged and are living refinance to refinance.  there will be deals a plenty all over the place. But the idea of buying another and letting the current one foreclose would to me only work if it's a new home buyer who paid something like $900k for something that's worth $550k now. Then you have to wonder if they really would qualify with a second home.

 

Anyway, if it happens, and we see 50% corrections, I'd be happy. More homes for me 🙂 

 

[Coronita]

Carl Icahn Info:

 

 

As of 6-30-07 filing

Note: Raised stake in BEAS to 13.2% as of October 2007

New positions: BIIB, AA, KFT, MWV, RDC, BEAS, AL, CCU, LNC, GPN
Sold Out: H, MEDI

Carl Icahn, raised in Queens, New York City, earned a reputation as a corporate raider after his hostile takeover of TWA in 1985. He was educated at Princeton University (A.B., Philosophy, 1957) and New York University School of Medicine, where he dropped out before graduation. Carl Icahn, like many others in the 1980s, made his billionaire fortune in large part because of financier Michael Milken's junk bonds.

Icahn is a director of Blockbuster Inc, and the chairman of Imclone, American Real Estate Partners LP, XO Communications Inc, WestPoint Home Inc. and American Railcar. Also he is a beneficial owner of Adventrx Pharmaceuticals Inc, Hollywood Entertainment, National Energy Group Inc, Vector Group Ltd and has significant holdings in Time Warner Inc. He has casino interests in Las Vegas, Nevada, including the Stratosphere, Arizona Charlie's Boulder and Arizona Charlie's Decatur, which are operated through American Entertainment Properties, a subsidiary of Icahn's major company American Real Estate Partners. Icahn has also tried to take over Marvel Comics.

[Coronita]

Carl Icahn Info:

 

 

As of 6-30-07 filing

Note: Raised stake in BEAS to 13.2% as of October 2007

New positions: BIIB, AA, KFT, MWV, RDC, BEAS, AL, CCU, LNC, GPN
Sold Out: H, MEDI

Carl Icahn, raised in Queens, New York City, earned a reputation as a corporate raider after his hostile takeover of TWA in 1985. He was educated at Princeton University (A.B., Philosophy, 1957) and New York University School of Medicine, where he dropped out before graduation. Carl Icahn, like many others in the 1980s, made his billionaire fortune in large part because of financier Michael Milken's junk bonds.

Icahn is a director of Blockbuster Inc, and the chairman of Imclone, American Real Estate Partners LP, XO Communications Inc, WestPoint Home Inc. and American Railcar. Also he is a beneficial owner of Adventrx Pharmaceuticals Inc, Hollywood Entertainment, National Energy Group Inc, Vector Group Ltd and has significant holdings in Time Warner Inc. He has casino interests in Las Vegas, Nevada, including the Stratosphere, Arizona Charlie's Boulder and Arizona Charlie's Decatur, which are operated through American Entertainment Properties, a subsidiary of Icahn's major company American Real Estate Partners. Icahn has also tried to take over Marvel Comics.

[Coronita]

Prosecuting parents for neglience would be a start.

[Coronita]

Prosecuting parents for neglience would be a start.

[Coronita]

If my home goes down by 50% to $450k in CV.

I wouldn't buy another one and llet my current home be foreclosed.

 

1) I would definitely buy another home at 50% off, probably pay cash.

2) I would keep my current house too.

For me, screwing up one's credit on something $500k or less isn't worth the time or inconvenience frankly. If it's $5million on the other hand, well that would be a different story wouldn't it?

So i guess the question is might be how much is your credit really worth?

Also, as much as I want to believe in a 50% correction, I have to put this in perspective. Running my immediate neighborhood, a 50% correction would take us roughly back to 1998 house prices. Most of the homes that on my streets and immediate cross streets are original home owners who purchased in 1998. I would think that no matter what happens, most of these folks aren't going to move because their mortgage is so low and prop tax is so low. These are the stay put people….

The ones that probably would consider selling are the greater fool like myself who bought from the few sellers in this neighborhood. People like me make up about 15-20% of these on our streets, because I looked at the sales history, there hasn't been that much turnover. Out of the new purchasers, I would say at least half of them are asian….So, I would have to put on my "ethinicity" hat here, and say at least for the purchasers around me, most of them will be hanging on to dear life because they would probably fit the stereotype asian that refuses to let go. So I'm not really sure if the 50% discount will be possible in certain areas.

[Coronita]

If my home goes down by 50% to $450k in CV.

I wouldn't buy another one and llet my current home be foreclosed.

 

1) I would definitely buy another home at 50% off, probably pay cash.

2) I would keep my current house too.

For me, screwing up one's credit on something $500k or less isn't worth the time or inconvenience frankly. If it's $5million on the other hand, well that would be a different story wouldn't it?

So i guess the question is might be how much is your credit really worth?

Also, as much as I want to believe in a 50% correction, I have to put this in perspective. Running my immediate neighborhood, a 50% correction would take us roughly back to 1998 house prices. Most of the homes that on my streets and immediate cross streets are original home owners who purchased in 1998. I would think that no matter what happens, most of these folks aren't going to move because their mortgage is so low and prop tax is so low. These are the stay put people….

The ones that probably would consider selling are the greater fool like myself who bought from the few sellers in this neighborhood. People like me make up about 15-20% of these on our streets, because I looked at the sales history, there hasn't been that much turnover. Out of the new purchasers, I would say at least half of them are asian….So, I would have to put on my "ethinicity" hat here, and say at least for the purchasers around me, most of them will be hanging on to dear life because they would probably fit the stereotype asian that refuses to let go. So I'm not really sure if the 50% discount will be possible in certain areas.

[Coronita]

Let me be clear. When I posted, I don't have issues with guns with themselves. I don't even really have a problem with parents teaching their son/daughter how to properly use one for hunting or even for target practice at a range.

What I was talking about was just general gun safety. I mean, if you buy a gun or buy one so your kid can use it supervised (and key word here is supervised), well, shouldn't you keep it under lock-and-key in a cabinet or something? What I don't understand are the freaky parents that just let their kids access the gun so easily, like keeping it in a their own room. And what parent can justify buying their kid an assault rifle? Far stretch between a hunting gun or even a pistol versus an assault rifle. Unrelated, what the heck about the hand grenades too? Unfrickin believable. WTF are these parents thinking? A son/daughter "needs" an assault rifle? Just my opinion, but this particular mom in this particular case deserves to go to jail.

[Coronita]

Let me be clear. When I posted, I don't have issues with guns with themselves. I don't even really have a problem with parents teaching their son/daughter how to properly use one for hunting or even for target practice at a range.

What I was talking about was just general gun safety. I mean, if you buy a gun or buy one so your kid can use it supervised (and key word here is supervised), well, shouldn't you keep it under lock-and-key in a cabinet or something? What I don't understand are the freaky parents that just let their kids access the gun so easily, like keeping it in a their own room. And what parent can justify buying their kid an assault rifle? Far stretch between a hunting gun or even a pistol versus an assault rifle. Unrelated, what the heck about the hand grenades too? Unfrickin believable. WTF are these parents thinking? A son/daughter "needs" an assault rifle? Just my opinion, but this particular mom in this particular case deserves to go to jail.

[Coronita]

Well folks, looks like it turns out for BEA, it wasn't exactly the results I wanted. Carl Icahn didn't exactly gain control and chop the company up into little pieces to drive up the stock price.

 

On the other hand, oracle announced today that it wanted to buy BEA at $17.

http://biz.yahoo.com/ap/071012/oracle_bea_systems.html?.v=11

I'm selling in the pre-trading session, like NOW!.

32% in two weeks, not bad i guess.

 

I think there will be other software company consolidation this year. There are too many independents flying around. Again, bad for employees, opportunities for speculators.

 

I find it also ironic that while some think Larry E. (Oracle CEO) is the devil in disguise (especially his famous quote claiming the difference between God and Larry is that God doesn't run Oracle), oracle's offer is …. yup $6.66 billion

 

 

Carl Icahn, however, get's to pocket $200+ million from the flip. I'm soooo jealous.

Hey Carl, you got what you wanted out of BEA, would you now go work on Motorola, which you also have a stake in????

 

[Coronita]

Well folks, looks like it turns out for BEA, it wasn't exactly the results I wanted. Carl Icahn didn't exactly gain control and chop the company up into little pieces to drive up the stock price.

 

On the other hand, oracle announced today that it wanted to buy BEA at $17.

http://biz.yahoo.com/ap/071012/oracle_bea_systems.html?.v=11

I'm selling in the pre-trading session, like NOW!.

32% in two weeks, not bad i guess.

 

I think there will be other software company consolidation this year. There are too many independents flying around. Again, bad for employees, opportunities for speculators.

 

I find it also ironic that while some think Larry E. (Oracle CEO) is the devil in disguise (especially his famous quote claiming the difference between God and Larry is that God doesn't run Oracle), oracle's offer is …. yup $6.66 billion

 

 

Carl Icahn, however, get's to pocket $200+ million from the flip. I'm soooo jealous.

Hey Carl, you got what you wanted out of BEA, would you now go work on Motorola, which you also have a stake in????

 

[Coronita]

SD R,

 

When I posted this, I was trying to figure out who really was at fault. It didn't sound like the traditional ARM reset. I meant to ask if anyone was knowledgeable about this event.

Anyway, I'll dig around to see what gives. Really weird though.

 

 

[Coronita]

SD R,

 

When I posted this, I was trying to figure out who really was at fault. It didn't sound like the traditional ARM reset. I meant to ask if anyone was knowledgeable about this event.

Anyway, I'll dig around to see what gives. Really weird though.

 

 

[Coronita]

I'm surprised more idiots don't try to burn down the thing and make insurance claims. 

[Coronita]

I'm surprised more idiots don't try to burn down the thing and make insurance claims. 

[Author]

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