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May 25, 2007 at 9:19 PM in reply to: Excellent article in TIME from Dec 09, 1974 – learn from the past #55111
GoUSC
ParticipantI am a first time buyer; single, middle six digit income (stable job), can put up to 300k down. Renting a house in Bay Park and won’t buy unless the numbers pencil and it makes economic sense to own vs. rent.
ParticipantI am a first time buyer; single, middle six digit income (stable job), can put up to 300k down. Renting a house in Bay Park and won’t buy unless the numbers pencil and it makes economic sense to own vs. rent.
ParticipantCould the whole home debacle actual improve the economy in some ways? Forcing these home owners to move into rental’s that will be considerably cheaper and therefore opening up more of their income to be spent on other things? Not to mention the declining home prices will lower mortgage payments for people like myself so then I will have more leftover to save/spend (me being more of a saver then a spender).
ParticipantCould the whole home debacle actual improve the economy in some ways? Forcing these home owners to move into rental’s that will be considerably cheaper and therefore opening up more of their income to be spent on other things? Not to mention the declining home prices will lower mortgage payments for people like myself so then I will have more leftover to save/spend (me being more of a saver then a spender).
ParticipantWhen I pull public records of basically every house in my neighborhood that has sold within the past year, they almost ALL have HELOCs. Federal Reserve is criminal organization.
ParticipantWhen I pull public records of basically every house in my neighborhood that has sold within the past year, they almost ALL have HELOCs. Federal Reserve is criminal organization.
ParticipantOh half of them are indeed parked on the street. At least all of the vehicles are new and shiny. I guess????
ParticipantOh half of them are indeed parked on the street. At least all of the vehicles are new and shiny. I guess????
ParticipantI have no sympathy for these people. For example the woman who bought the $500k house. She has a $2800 payment starting out on her mortgage and they say she makes $60,000. The equates to $2800/month after taxes (no factoring in interest right off). She couldn’t afford it to begin with. Then on top of that what does she have parked in the driveway? A big shiny new SUV. She deserves to lose her house and end up in a one bedroom apartment. I have no sympathy, it’s people like this that have made the market very tough for us reasonable people.
ParticipantI have enjoyed profit for the run up in the market but have now moved my assets to more conservative investments but the point of my comment is that the market is now jumping on every little piece of economic data from the government instead of using rationality. And I fully agree with you. The high end retailers will do well. The companies like GAP, Limited, Abercrombie are going to be brutalized.
ParticipantI personally enjoy the alley setup. It makes the front of the house look nice, still allows for a backyard that although quainter it quiet. And it prevents having ugly garages used as “storage” open to the neighborhood.
ParticipantSorry yes I meant Fish Market…love it.
ParticipantOMG what did I start!!! ALL OF YOU STAY OUT OF OUR COSY QUAINT VILLAGE OF BAY PARK!!!! I want to buy something here in the next two years…sheesh 😉
FYI if you haven’t tried it, Bay Park Seafood is amazing. The ceviche and ahi poke are especially to die for….with a hefeweizen…mmmm heaven. I digress.
ParticipantThe irrationality in the market will depress you if you follow it…I stopped.
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