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We are sooooo falling into recession … fast.
BTW … you think ford sales is drying up because the FB’s cant borrow on home equity … or cos contractors dont have a place to go to due to the building falling off ???
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So … death is an investment strategy … I guess it is, cos so many people committed suicide in the great depression.
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Yea who the F&*K buys a house in salinas for 800K.
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That is the dumbest thing I have heard.
We have lots of land, and building houses will create jobs, so there will always be jobs and hence housing will go up.
Yea, stupid, lets see in the ideal scenario – what happens when the 300 illegals are done building the first 300 houses they have built, and even if they can afford to buy them and they have bought them … so 300 illegals built 300 houses and bought them all … alright, now where are your jobs … oh … these 300 have to keep building … that’s 300 more they are building now, who is going to buy them ???
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Malaysia and Indonesia and some of those south pacific countries are just about modern enough and still un touched by the McDonalds (Or just the donald’s) … its a refreshingly rustic paradise. I have also heard the same about Sri lanka, Fuji etc.
India (my old home) is one of those countries where if you had that initial capital to launch your life of cushy comfort, you’d not have to worry about much. I know of younger people who sock away 30-40K USD and go back home and buy up large houses and get jobs in IT or somehting and just live in great luxury.
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I believe Liareah owns a bunch of condos in south FL. I believe he will not for an instant hesitate to throw any other part of the country under a bus. Needless to say, he hasn’t figured out that the markets are all inter related cos its all over inflated.
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Real estate just falls short of inflation in appreciation IMHO. You’d have to factor in repairs and maintenance costs.
I have a plan to build a house that will be 0 maintenance (or very very low) – true log house with a metal roof. Just mechanicals and windows may need replacing every 10 years. The outer walls may need treatments 1, 3, 7 and every 10 years from then on. Roof may never need work (or 50-100 years) Touch wood (no pun intended) … I will build it sometime.
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Yea … no dice … totally one sided IMHO … but maybe what I wanted to see is probably another “situation reporting” You know … like situation comedy … totally made up setting and what not.
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[Cow_tipping]

I wont totally cop to debt as a consumer only problem. Companies tack on fine print, insane charges for un heard of penalties, and constant changes to charges and surcharges etc etc … and guess what … if you dont like 1 aspect, you start renegging on the entire debt to that company. Like for example, a credit card tacks on late charges for receiving your check late and now your balance is higher and they start adding interest right from day 1 on that late charge when they never informed you (remember 45 days to pay any charge). OK guess what, I am not paying my whole entire bill. OK OK I fought them into submission. But the general idea is that. OK so lets see if 20/20 takes any serious look at that part.
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[Cow_tipping]

I’d think we’d have a sharp drop in house prices in the next year. Inflation in the form of Commodities ( think milk, meat and eggs ) will slowly rise over time, housing will drop slowly and in ~5 years we will be back to where we were in historic terms – we’d spend relatively less on housing and more on food and make a little bit more than now for the same type of work and be firmly set in an inflation cycle for everything except housing. That is likely to the the real bottom for housing. 2011 or so. Then housing actually starts to reverse course and joins in inflation at right about under the rate of inflation as it has done historically.
The slow drop like japan cannot happen here cos our savings rate is pathetic. Its negative, they are at like 15% average isn’t it.
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A jewish fire ???
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That’s cos “just minutes from a non descript crime ridden hell hole with no redeeming qualities what so ever” doesn’t sound as nice.
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99% of accidental residential fires are due to owner negligence. Stove on with bacon grease, or gas line leaking or somehting like that. No residents – no accidental cause. it can be ex employee or other arson or environmental terrorists or good old insurance fire … and No I doubt anything is going to come out in an “investigation” … that crap only happens on TV in CSI.
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Correct PerryChase. Seen it happen. Identical models, selling barely 3 miles away for 80K less and that is in charlotte NC. Heck a whole damn house can be bought for under 80 in parts of charlotte.
The second option is to have these builders “flip” their unbuilt lots to other builders who will promptly deliver the “screwgie” (and yes its an official word courtesy George of seinfeld) to the existing homeowners. That happens and we can at that time start licking our lips.
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Last throes my friend … and
IO option suicide loans are still around … not rampant … but not dead either … You can look around and look hard and find some …
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