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GoUSC
ParticipantSorry my post was 100% accurate. It was forward to me and I was unable to verify the veracity other than it was given to me by a broker who attended the auction. Maybe she didn’t clarify enough…
My apologies but does give you an idea of where things are going.
Participantkewp I know what you mean. It amazes me some of the things that came out of these people’s mouths. Not one of them address the basic premise that Peter made. The consumer is overtapped, we have borrowered more than we can pay back, our economy is faltering, and now our dollar is under extreme pressure.
Where is Volcker when you need him!?!?!?
ParticipantThings are definately moving down! Which is refreshing to say the least.
Participant4plex I think your analysis, while a good exercise, is not indicative. Homes historically have not sold at prices necessarily reflective of their GRM. Close but not precisely.
For example this house at $445k less a 20% down payment. This results in an approximately mortgage of $2134. Take out your deduction for interest and property taxes and you are paying close to what you would rent this place for. That’s how buyers look at it and why it might be a good deal.
To answer the other question this is indeed “Bay Ho”. But Bay Ho isn’t really recognized so in MLS it is listed as Clairemont.
ParticipantThat is indeed the Chicago one. I have the lock box number and am going to take a look at the house tonight. For $445k I might be tempted to lob in an offer…
The pricing of the homes close to the freeway in Bay Park are just stupid. The freeway noise is barely tolerable and the locale is okay but certainly not a million $ neighborhood. Same goes for the two homes close to me on Baker that they are asking for around $1 mil.
ParticipantThe Chinese won’t dump their treasuries and they won’t float their currency. There economy only exists because of our purchasing power and buying their goods.
Let’s put this in a little perspective folks. The US GDP is $13.1 TRILLION dollars. It increased $2.2 trillion from 2003 to 2006. The entire Chinese GDP is $2.07 trillion. Our GDP grew in 3 years by more than the ENTIRE Chinese GDP.
Assuming that the Chinese GDP grew at 8% forever and the US GDP grew at 3% forever, it would take China 40 years to equal our GDP.
Yes there are problems but at the end of the day we are still a huge economy with a lot of life left in it.
ParticipantI did not! I will check it out on the way home tonight though. A house on Chicago down the street from me did go into foreclosure. The owners foreclosed on three properties they own (1 in Bay Park and 2 in Chula Vista) and have essentially vanished. They paid around $800k for it and from what I heard they bought it with 100% financing.
THANKS!!!!!
ParticipantLittle bit of regret posting something what might be insider knowledge???
ParticipantLittle bit of regret posting something what might be insider knowledge???
ParticipantLittle bit of regret posting something what might be insider knowledge???
ParticipantCan’t really “transfer” money to foreign banks without the government knowing it. Unless you are getting on a plan with $100k in cash in your suitcase on your way to Switzerland.
ParticipantCan’t really “transfer” money to foreign banks without the government knowing it. Unless you are getting on a plan with $100k in cash in your suitcase on your way to Switzerland.
ParticipantCan’t really “transfer” money to foreign banks without the government knowing it. Unless you are getting on a plan with $100k in cash in your suitcase on your way to Switzerland.
ParticipantI was at Costco last night and it seemed fairly busy…Although I think in a down market you would see MORE people going to Costco to save money versus going to the grocer.
Thoughts?
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