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EconProf
ParticipantBobS
There are actually several pluses to a falling dollar:
1. Our exports are effectively cheaper to foreigners, theoretically helping our balance of trade in the long run. US exports are up substantially this year and last year.
2. Tourism here up from foreigners plus more Americans spending their tourist dollars in US vs. traveling overseas.
3. Ultimately, our real estate prices will be propped up by foreigners discovering what bargains we have. There is evidence this is already happening.The main downside of the falling dollar is to our pride and prestige. It shows how we have mismanaged our affairs and are so into consumption and instant gratification instead of saving and self-control.
ParticipantBobS
There are actually several pluses to a falling dollar:
1. Our exports are effectively cheaper to foreigners, theoretically helping our balance of trade in the long run. US exports are up substantially this year and last year.
2. Tourism here up from foreigners plus more Americans spending their tourist dollars in US vs. traveling overseas.
3. Ultimately, our real estate prices will be propped up by foreigners discovering what bargains we have. There is evidence this is already happening.The main downside of the falling dollar is to our pride and prestige. It shows how we have mismanaged our affairs and are so into consumption and instant gratification instead of saving and self-control.
ParticipantBobS
There are actually several pluses to a falling dollar:
1. Our exports are effectively cheaper to foreigners, theoretically helping our balance of trade in the long run. US exports are up substantially this year and last year.
2. Tourism here up from foreigners plus more Americans spending their tourist dollars in US vs. traveling overseas.
3. Ultimately, our real estate prices will be propped up by foreigners discovering what bargains we have. There is evidence this is already happening.The main downside of the falling dollar is to our pride and prestige. It shows how we have mismanaged our affairs and are so into consumption and instant gratification instead of saving and self-control.
ParticipantBobS
There are actually several pluses to a falling dollar:
1. Our exports are effectively cheaper to foreigners, theoretically helping our balance of trade in the long run. US exports are up substantially this year and last year.
2. Tourism here up from foreigners plus more Americans spending their tourist dollars in US vs. traveling overseas.
3. Ultimately, our real estate prices will be propped up by foreigners discovering what bargains we have. There is evidence this is already happening.The main downside of the falling dollar is to our pride and prestige. It shows how we have mismanaged our affairs and are so into consumption and instant gratification instead of saving and self-control.
ParticipantBobS
Not only will all-cash offers often trump higher offers with financing, they can get you spectacular deals from desparate-to-sell owners, including REOs.
In 1997 I bought a Normal Heights 2-bedroom 1926 bungalow with a rotten foundation for $46,5OO. Had to pay cash since lenders would not lend on it to me or anyone else. Sold it 4 years later for $256k after collecting rent (to a contractor–I never did fix the foundation).
In today’s environment with lenders even more skittish, cash will rule.
The discount you are suggesting is way too modest. Offer $100 off and hold to it. You will get this property or another one like it eventually.ParticipantBobS
Not only will all-cash offers often trump higher offers with financing, they can get you spectacular deals from desparate-to-sell owners, including REOs.
In 1997 I bought a Normal Heights 2-bedroom 1926 bungalow with a rotten foundation for $46,5OO. Had to pay cash since lenders would not lend on it to me or anyone else. Sold it 4 years later for $256k after collecting rent (to a contractor–I never did fix the foundation).
In today’s environment with lenders even more skittish, cash will rule.
The discount you are suggesting is way too modest. Offer $100 off and hold to it. You will get this property or another one like it eventually.ParticipantBobS
Not only will all-cash offers often trump higher offers with financing, they can get you spectacular deals from desparate-to-sell owners, including REOs.
In 1997 I bought a Normal Heights 2-bedroom 1926 bungalow with a rotten foundation for $46,5OO. Had to pay cash since lenders would not lend on it to me or anyone else. Sold it 4 years later for $256k after collecting rent (to a contractor–I never did fix the foundation).
In today’s environment with lenders even more skittish, cash will rule.
The discount you are suggesting is way too modest. Offer $100 off and hold to it. You will get this property or another one like it eventually.ParticipantBobS
Not only will all-cash offers often trump higher offers with financing, they can get you spectacular deals from desparate-to-sell owners, including REOs.
In 1997 I bought a Normal Heights 2-bedroom 1926 bungalow with a rotten foundation for $46,5OO. Had to pay cash since lenders would not lend on it to me or anyone else. Sold it 4 years later for $256k after collecting rent (to a contractor–I never did fix the foundation).
In today’s environment with lenders even more skittish, cash will rule.
The discount you are suggesting is way too modest. Offer $100 off and hold to it. You will get this property or another one like it eventually.ParticipantBobS
Not only will all-cash offers often trump higher offers with financing, they can get you spectacular deals from desparate-to-sell owners, including REOs.
In 1997 I bought a Normal Heights 2-bedroom 1926 bungalow with a rotten foundation for $46,5OO. Had to pay cash since lenders would not lend on it to me or anyone else. Sold it 4 years later for $256k after collecting rent (to a contractor–I never did fix the foundation).
In today’s environment with lenders even more skittish, cash will rule.
The discount you are suggesting is way too modest. Offer $100 off and hold to it. You will get this property or another one like it eventually.ParticipantBobS
Now is the time to document and remember what these bozos are saying. As the real estate decline continues, we need to remind the public, and perhaps, the media of what they are on record as stating.ParticipantBobS
Now is the time to document and remember what these bozos are saying. As the real estate decline continues, we need to remind the public, and perhaps, the media of what they are on record as stating.ParticipantBobS
Now is the time to document and remember what these bozos are saying. As the real estate decline continues, we need to remind the public, and perhaps, the media of what they are on record as stating.ParticipantBobS
Now is the time to document and remember what these bozos are saying. As the real estate decline continues, we need to remind the public, and perhaps, the media of what they are on record as stating.ParticipantBobS
Now is the time to document and remember what these bozos are saying. As the real estate decline continues, we need to remind the public, and perhaps, the media of what they are on record as stating. -
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