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August 14, 2007 at 4:06 PM in reply to: Please explain the excitement about foreclosure auctions? #75306
(former)FormerSanDiegan
ParticipantMy Favorite Peter Schiff Quote:
From December 26, 2002 …
Q. So what advice do you have for 2003?Schiff: I recommend investors have no exposure to U.S. stocks or bonds. I think people should have money in liquid, safe assets denominated in Swiss francs, euros, New Zealand dollars, Australian dollars, or Singapore dollars. As far as homes go, I tell people to sell if they can. If they can’t, I recommend anyone who has an adjustable-rate mortgage to get a fixed-rate mortgage fast.
The S&P 500 closed at 889 that day.
There was another 50-100% increase in home prices in places San Diego.But at least he was right about mortgage rates.
ParticipantMy Favorite Peter Schiff Quote:
From December 26, 2002 …
Q. So what advice do you have for 2003?Schiff: I recommend investors have no exposure to U.S. stocks or bonds. I think people should have money in liquid, safe assets denominated in Swiss francs, euros, New Zealand dollars, Australian dollars, or Singapore dollars. As far as homes go, I tell people to sell if they can. If they can’t, I recommend anyone who has an adjustable-rate mortgage to get a fixed-rate mortgage fast.
The S&P 500 closed at 889 that day.
There was another 50-100% increase in home prices in places San Diego.But at least he was right about mortgage rates.
ParticipantMy Favorite Peter Schiff Quote:
From December 26, 2002 …
Q. So what advice do you have for 2003?Schiff: I recommend investors have no exposure to U.S. stocks or bonds. I think people should have money in liquid, safe assets denominated in Swiss francs, euros, New Zealand dollars, Australian dollars, or Singapore dollars. As far as homes go, I tell people to sell if they can. If they can’t, I recommend anyone who has an adjustable-rate mortgage to get a fixed-rate mortgage fast.
The S&P 500 closed at 889 that day.
There was another 50-100% increase in home prices in places San Diego.But at least he was right about mortgage rates.
Participantit looks like he isn’t getting bashed by the perma bulls as much, now that his predictions are coming true.
Yes, it is now the perma-bears’ turn in the spotlight.
Participantit looks like he isn’t getting bashed by the perma bulls as much, now that his predictions are coming true.
Yes, it is now the perma-bears’ turn in the spotlight.
Participantit looks like he isn’t getting bashed by the perma bulls as much, now that his predictions are coming true.
Yes, it is now the perma-bears’ turn in the spotlight.
Participantinvestigate
I doubt they mean a full investigation. However, I could envision them screening many or all based on automated criteria. The banks could also screen all for fraud, then report certain fishy transactions to the FBI, who then might be compelled to investigate.But the routine investigation of ALL foreclosures sounds like an urban legend in the making to me.
Participantinvestigate
I doubt they mean a full investigation. However, I could envision them screening many or all based on automated criteria. The banks could also screen all for fraud, then report certain fishy transactions to the FBI, who then might be compelled to investigate.But the routine investigation of ALL foreclosures sounds like an urban legend in the making to me.
Participantinvestigate
I doubt they mean a full investigation. However, I could envision them screening many or all based on automated criteria. The banks could also screen all for fraud, then report certain fishy transactions to the FBI, who then might be compelled to investigate.But the routine investigation of ALL foreclosures sounds like an urban legend in the making to me.
ParticipantInstead of the bottom, I would pose that we have hit the knee in the curve and will see a bit of acceleration to the down side.
Just like the idiots who called a peak starting in 2002, we have idiots calling the bottom for the next couple of years.
ParticipantInstead of the bottom, I would pose that we have hit the knee in the curve and will see a bit of acceleration to the down side.
Just like the idiots who called a peak starting in 2002, we have idiots calling the bottom for the next couple of years.
ParticipantInstead of the bottom, I would pose that we have hit the knee in the curve and will see a bit of acceleration to the down side.
Just like the idiots who called a peak starting in 2002, we have idiots calling the bottom for the next couple of years.
Participant“A house worth $450k in 2001 went up to $900k in 2005 and is now worth $850k. This is the bottom how? Wouldn’t the bottom be back to $450k? ”
Bottom opinions are like a$$holes. Everybody has one and thinks theirs does not stink.
By the way, why is your bottom any more valid than his ?
Participant“A house worth $450k in 2001 went up to $900k in 2005 and is now worth $850k. This is the bottom how? Wouldn’t the bottom be back to $450k? ”
Bottom opinions are like a$$holes. Everybody has one and thinks theirs does not stink.
By the way, why is your bottom any more valid than his ?
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