[gold_dredger_phd]

There’s a home buyer born every minute!

[gold_dredger_phd]

Is there a link to this story or is it old? I could not find it on the “Housing Bubble Blog.”

It sounds like the wife is a compulsive spender. How do you wrack up $80K in credit card debt? Who’s going to loan them the money? None of my credit cards has an $80K limit! Maybe this woman was buying gold and silver coins and burying them somewhere? After bankruptcy, she can always dig them up and start fresh.

The banks, credit card companies, realtors, and retailers don’t want people to save any money. Better to have all the people, who are employed, in the country being debt slaves. That’s what consumer culture is. The culture of debt promoted by advertisers and other shills. Don’t participate!

[gold_dredger_phd]

Wait for a real recession. This bubble popping is going to last years.

I heard that credit is still as available as ever.

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The only person to speak rationally about politics was Ayn Rand.

[gold_dredger_phd]

The statistics that are quoted for returns in the stock market are from the same people that sell mutual funds. Your after-tax, after-inflation returns are likely to be much less than is quoted from the mutual fund advertising.

Your real rate of return is more likely to look like 7% than 10% of anything. A complete market cycle should be from the years 1966 to 2000.

Another thing to remember is that this period has a preponderance of years when oil or energy was cheap and the US manufacturing base was not competing with China or India. Future returns in US markets are likely to be lower than the last 4 decades of the American Century.

[gold_dredger_phd]

Rumsfeld is gone already! Baker and company will now hand over Iraq to the Iranians. Terrorism was rewarded. Surrender will occur before the 2008 election. End of thread.

[gold_dredger_phd]

Where do I sign up for this deal? Can I make $200K? I want the bank to bail me out of my McMansion and I’ll gladly pay taxes on the $200K as income. Who wouldn’t want an extra $200K? I think this may be popular if there is a big rise in interest rates.

This kind of debt forgiveness may be something that is popular with voters. Who else rewards folly or failure like the government?

[gold_dredger_phd]

5 years, minimum. The peak was in ’05, so the trough should not be before 2011. I would wait until we have a major recession/depression and then buy two houses. Live in one and rent the other. That’s my plan!

[gold_dredger_phd]

My rent went up by 25%. I’ve been there for two years. They don’t care how many of their tenants leave. The market they want now is the two income professional household that can’t afford a house in that neighborhood. The homes there have asking prices of between $800K to 1.5 million.

[gold_dredger_phd]

He’s definitely not the brightest bulb in the room.

The conservatives are very good at badgering the liberals and 60’s freaks and pointing out their inconsistencies and hypocrisy, but not for much else.

They did at one time stand for fiscal restraint, but I guess all the “compassion” got in the way of that.

I’m glad that “compassionate conservatism” is a dead ideology. It was stillborn from the start and has been soundly rejected by the electorate.

I hope we get some Jimmy Carter clone in the White House in ’09, because the sh*t will really hit the fan in that decade. No more bubbles to inflate, deficit spending will be less of an option, Peak Oil will come home to roost with $150 per barrel oil, and the boomers will retire to trailer parks around the country and demand massive entitlement spending. A perfect economic storm if there ever was one.

Bring it on!

[gold_dredger_phd]

Wait until we have a real recession, either mostly local or nationwide or worldwide. Why do people think economic cycles have been banished?

I bought a house with another investor in 2002, and I noticed that the price of the house in Euros never went up. Even when I sold for a profit in dollars, the Euro price was the same.

This shows the price gains in real estate in San Diego are partly an illusion.

[gold_dredger_phd]

My landlord jacked up the rent 25%, so we’re moving into a rental condo or house. If all the landlords in San Diego jacked up rent by 25%, I would ask my boss for a raise to cover this and if I could not get one, I’d just leave the state. There’s no room for the middle class in San Diego.

[gold_dredger_phd]

Democrats are good for increasing the price of gold since they, like the compassionate conservates before them, like to spend money and inflate the currency.

[gold_dredger_phd]

Who cares? If you can’t put down 20% on a house, how can you afford it?

[gold_dredger_phd]

What kind of house in Ann Arbor costs $700,000?
I’d sell it and live in the country.

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