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Fearful
ParticipantAll the comments about nifty cars aside – and I plan on picking up some nice used Realtor car in the next year or so – I stand by my vehemence.
Lying about a used car is one thing. These guys are running around lying about houses that cost 10x – 50x. People’s personal finances are being devastated.
Whatever. I got my ass out, so I don’t personally care, and am frankly profiting off the macroeconomic situation. It just sickens me to see people lying in their self interest, and to the detriment of others. How can the guy look in the mirror each morning and feel good about encouraging people to buy houses now?
ParticipantAll the comments about nifty cars aside – and I plan on picking up some nice used Realtor car in the next year or so – I stand by my vehemence.
Lying about a used car is one thing. These guys are running around lying about houses that cost 10x – 50x. People’s personal finances are being devastated.
Whatever. I got my ass out, so I don’t personally care, and am frankly profiting off the macroeconomic situation. It just sickens me to see people lying in their self interest, and to the detriment of others. How can the guy look in the mirror each morning and feel good about encouraging people to buy houses now?
ParticipantI think this buying behavior, and some of the comments posted on it, are indicative of what I like to think of as the second wave: First we had people buying because prices were going up. Now we have people whose psychology, whose frame of reference is still of the prices having gone up, and they see the recent price declines as indicative of it being a good time to buy. “Foreclosure” is associated with “bargain” in many people’s minds.
Never mind that prices will in all likelihood continue to drop for quite some time. I initially contemplated investing in foreclosure properties, then realized after about a minute of thinking about it, that the inventory risk was horrendous.
Many seasoned professionals have been burned by jumping in too early. It’s called “catching a falling knife”.
ParticipantI think this buying behavior, and some of the comments posted on it, are indicative of what I like to think of as the second wave: First we had people buying because prices were going up. Now we have people whose psychology, whose frame of reference is still of the prices having gone up, and they see the recent price declines as indicative of it being a good time to buy. “Foreclosure” is associated with “bargain” in many people’s minds.
Never mind that prices will in all likelihood continue to drop for quite some time. I initially contemplated investing in foreclosure properties, then realized after about a minute of thinking about it, that the inventory risk was horrendous.
Many seasoned professionals have been burned by jumping in too early. It’s called “catching a falling knife”.
ParticipantI think this buying behavior, and some of the comments posted on it, are indicative of what I like to think of as the second wave: First we had people buying because prices were going up. Now we have people whose psychology, whose frame of reference is still of the prices having gone up, and they see the recent price declines as indicative of it being a good time to buy. “Foreclosure” is associated with “bargain” in many people’s minds.
Never mind that prices will in all likelihood continue to drop for quite some time. I initially contemplated investing in foreclosure properties, then realized after about a minute of thinking about it, that the inventory risk was horrendous.
Many seasoned professionals have been burned by jumping in too early. It’s called “catching a falling knife”.
ParticipantI think this buying behavior, and some of the comments posted on it, are indicative of what I like to think of as the second wave: First we had people buying because prices were going up. Now we have people whose psychology, whose frame of reference is still of the prices having gone up, and they see the recent price declines as indicative of it being a good time to buy. “Foreclosure” is associated with “bargain” in many people’s minds.
Never mind that prices will in all likelihood continue to drop for quite some time. I initially contemplated investing in foreclosure properties, then realized after about a minute of thinking about it, that the inventory risk was horrendous.
Many seasoned professionals have been burned by jumping in too early. It’s called “catching a falling knife”.
ParticipantI think this buying behavior, and some of the comments posted on it, are indicative of what I like to think of as the second wave: First we had people buying because prices were going up. Now we have people whose psychology, whose frame of reference is still of the prices having gone up, and they see the recent price declines as indicative of it being a good time to buy. “Foreclosure” is associated with “bargain” in many people’s minds.
Never mind that prices will in all likelihood continue to drop for quite some time. I initially contemplated investing in foreclosure properties, then realized after about a minute of thinking about it, that the inventory risk was horrendous.
Many seasoned professionals have been burned by jumping in too early. It’s called “catching a falling knife”.
ParticipantBugs, thank you for the detailed work on builders’ economics.
It was a very interesting follow-on to the recent Motley Fool article arguing that because builder gross margins were only up a few percent, house prices ought to only fall a few percent. Pure silliness that completely ignores all the economic principles, not least being inventory.
ParticipantBugs, thank you for the detailed work on builders’ economics.
It was a very interesting follow-on to the recent Motley Fool article arguing that because builder gross margins were only up a few percent, house prices ought to only fall a few percent. Pure silliness that completely ignores all the economic principles, not least being inventory.
ParticipantBugs, thank you for the detailed work on builders’ economics.
It was a very interesting follow-on to the recent Motley Fool article arguing that because builder gross margins were only up a few percent, house prices ought to only fall a few percent. Pure silliness that completely ignores all the economic principles, not least being inventory.
ParticipantBugs, thank you for the detailed work on builders’ economics.
It was a very interesting follow-on to the recent Motley Fool article arguing that because builder gross margins were only up a few percent, house prices ought to only fall a few percent. Pure silliness that completely ignores all the economic principles, not least being inventory.
ParticipantBugs, thank you for the detailed work on builders’ economics.
It was a very interesting follow-on to the recent Motley Fool article arguing that because builder gross margins were only up a few percent, house prices ought to only fall a few percent. Pure silliness that completely ignores all the economic principles, not least being inventory.
ParticipantYou are right that Americans are a fierce and resourceful people, and rise to the occasion.
In this case, I think this applies well to our situation. Homeowners will defiantly raise their middle fingers to the banks holding their mortgages.
ParticipantYou are right that Americans are a fierce and resourceful people, and rise to the occasion.
In this case, I think this applies well to our situation. Homeowners will defiantly raise their middle fingers to the banks holding their mortgages.
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