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Happy renter
ParticipantYes!!! New Century faces probe, Fremont to quit subprime:
Both stocks are tumbling even after hours trading!
NEW CENTURY FINANC## (NYSE:NEW) Delayed quote data
After Hours: 11.15 3.50 (23.89%) as of 7:32pm ET on 03/02/07FREMONT GENERAL CP (NYSE:FMT) Delayed quote data
After Hours: 7.00 1.71 (19.63%) as of 7:30pm ET on 03/02/07The house market will tumble like the subprime lenders!!!!
ParticipantOne more thing: Other than the fees, loads, or commissions, some funds charge redemption fee if you hold the fund less than a period of time. Different 401K investment companies have different funds, policies and fees. So, you have to be very careful.
Example:
A 2% redemption fee may be imposed on shares held for 3 months or less. Performance shown does not reflect this redemption fee and, if reflected, performance would have been lower.ParticipantI think it depends on what investment company you have for your 401K. My allowed me to change anytime I wanted.
ParticipantYou can change any fund and as often as you want for the 401K account. You don’t need to pay any tax for the capital gain now. However, the transcations have to be in the same account. You can’t move money from one 401K account to different 401K account.
Some people have 2 different 401K accounts since they worked for different company before. Ususally, if you leave the company, you can roll over your 401K money from your old company to the new company.
Hope it can help!!!!
ParticipantAnother subprime lender Fremont sinked over 24% in “ONE DAY”. Housing market can only get worst. The housing bubble is extactly like the Dot-com bubble.
ParticipantThe 8.8% drop in China Market was a good early correction since it was up 130% last year. It can actually prevent the market to crash. The market was almost up 4% yesterday already. The China’s Gov’t did a good job to warn the speculators not messing around in the market. It’s like the flippers in the U.S. housing market. But the only different is that the U.S. kept the interest so long to HELP the flippers to inflate and flip the houses.
I never borrow money to invest and have very diversified portfolio with extra cash flow. The massacre is only for the speculators, not the long term investors. I am sure tons of speculators who bought margins were forced to sell and lost all the money.
New-home sales plummeted by 16.6 percent in January from the previous month. There should be a massacre or crash for housing market, not the stock market since the housing market is way overpriced without any correction.
ParticipantMy prediction is 50% drop from 2005 price in san Diego. Some areas are still appreciating , like LA. According to the last housing market cycle: It peaked in 1989 and the bottom was in 1996. So, it took 7 years to hit the bottom. This time the hosue maket peaked in 2005, so the bottom may in 2012. However, we may see around 25-30% price drop by next year, 2008. Then, it will drop slowly to hit the bottom by 2012.
ParticipantCall me when it’s $235K. I agree with you both. I have seen a lot of foreclosed houses are at 2004 price already. So, we won’t be not too far from the 2003 price. May be the bottom will be even further to 2000-2002 price?
ParticipantThe foreclosure rate will skyrocket and be much worst than 1990. Most buyers / flippers still don’t lower their asking prices. They are just too greedy and will either regard or even lose their houses. But I think they don’t deserve any mercy if it really happen to them.
ParticipantNEW closed at 36% drop in one day. This is a good article and the link:
U.S. mortgage carnage bad, but could be worse
ParticipantThank you for the news of stock, NEW. It dropped 28% today with heavy trading and hits 52 weeks low. The div is 25.3% with P/E 3.21. This company was very very profitable during the “House Bubble” period. It specializes in REIT. Related stock, Toll Brothers drops 4.3%. Here is the link:
http://finance.yahoo.com/q?s=NEW
Europe’s biggest bank, HSBC blames $10B charge on bad U.S. loans and says charge for bad debts in 2006 balloons 20 percent over forecasts due U.S. mortgage woes. HSBC dropped 2.6% today. Here is the link:
http://money.cnn.com/2007/02/07/news/international/hsbc.reut/index.htm?postversion=2007020719
ParticipantGood update OC Scam Part 3. We all will be more careful. Like what I guessed, Linda might be part of the plan. Now, they are having problems in finance and relationship due to house market slow down, so they point the guns to each other. They made the ugly big mess illegally, and they are fully responsible for it. You can just kick back and relax to watch them how to fight to each other.
They are not only greedy big liars, but also extremely stupid. “Justice” does not allow them to do it. They will be punished, but all you renters need to tesify them. You guys should fight for yourselves to get what you lose including money & time. It will stop the greedy criminals who try to take advantages of other innocent people and inflate the house market.
ParticipantThis terrible “House Bubble” does not only cause more people could’t afford to rent or buy houses, but also cause more criminals. The whole Real Estate market has problem. Filppers, speculators and criminals must be punished in order to correct the system. They inflate the house prices. It’s like stealing money from us indirectly. Things come around go around. We just have to be patient.
I agree with no_such_reality. You can stay there few months to make up your rent and deposit.
ParticipantI am very confused and have questions:
1. How could someone use grandparent’s name to buy a house, but the grandparent didn’t even know? The grandparent as the buyer needed to sign the paper work.2. I don’t understand that you said “your money into a escrow account”. What money and what escrow account? Escrow account is for someone buying a house.
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