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September 17, 2008 at 12:00 PM in reply to: I don’t claim to be an expert, but am looking for opinions #271758September 17, 2008 at 12:00 PM in reply to: I don’t claim to be an expert, but am looking for opinions #271782
HLS
ParticipantYou are all drinking the Kool-Aid that the industry wants you to.
They want you to keep investing, and hope, wish and pray that it will be there when you need it.
They collect commissions and management fees all the way along, regardless of whether you ever make a dime. They get rich, withoout ANY risk.
They tell you that in the long run, it will go up.
Maybe it will and maybe it wont. NO guarantee.
I can guarantee you that in the long run you will be dead.The market is a casino.
We could be in a 10-20 year bear market. We could go in to a depression. The market could rally big.
Do you feel lucky ??
HLS
September 17, 2008 at 11:51 AM in reply to: What happens to mortgages owned by Aurora/Lehman until assets sold? #271465ParticipantAURORA is a loan servicing division.
They don’t “own” loans.
It is probably a very profitable division.Loans will not be sold off for “cents on the dollar” they don’t own them.
Do you seriously think that checks aren’t going to get cashed ?
They are still in business.September 17, 2008 at 11:51 AM in reply to: What happens to mortgages owned by Aurora/Lehman until assets sold? #271701ParticipantAURORA is a loan servicing division.
They don’t “own” loans.
It is probably a very profitable division.Loans will not be sold off for “cents on the dollar” they don’t own them.
Do you seriously think that checks aren’t going to get cashed ?
They are still in business.September 17, 2008 at 11:51 AM in reply to: What happens to mortgages owned by Aurora/Lehman until assets sold? #271712ParticipantAURORA is a loan servicing division.
They don’t “own” loans.
It is probably a very profitable division.Loans will not be sold off for “cents on the dollar” they don’t own them.
Do you seriously think that checks aren’t going to get cashed ?
They are still in business.September 17, 2008 at 11:51 AM in reply to: What happens to mortgages owned by Aurora/Lehman until assets sold? #271752ParticipantAURORA is a loan servicing division.
They don’t “own” loans.
It is probably a very profitable division.Loans will not be sold off for “cents on the dollar” they don’t own them.
Do you seriously think that checks aren’t going to get cashed ?
They are still in business.September 17, 2008 at 11:51 AM in reply to: What happens to mortgages owned by Aurora/Lehman until assets sold? #271776ParticipantAURORA is a loan servicing division.
They don’t “own” loans.
It is probably a very profitable division.Loans will not be sold off for “cents on the dollar” they don’t own them.
Do you seriously think that checks aren’t going to get cashed ?
They are still in business.ParticipantThese have the potential to unwind the entire financial system as we know it…
Imagine if you bought an insurance policy from Company A, because they were solid and well capitalized, HOWEVER Company A then sold it to a weaker company, who then sold it to others.
Today, you cannot even find out who you are actually insured by.
CDS give them the right to do that.
In another twist, YOU as the insured can sell the policy also, if you can find a buyer.
This is so complex, people won’t grasp the potential consequences.
Regarding subprime loans, most people still have no clue what one is.
We are closer to the financial equivalent of Red at the airports.
ParticipantThese have the potential to unwind the entire financial system as we know it…
Imagine if you bought an insurance policy from Company A, because they were solid and well capitalized, HOWEVER Company A then sold it to a weaker company, who then sold it to others.
Today, you cannot even find out who you are actually insured by.
CDS give them the right to do that.
In another twist, YOU as the insured can sell the policy also, if you can find a buyer.
This is so complex, people won’t grasp the potential consequences.
Regarding subprime loans, most people still have no clue what one is.
We are closer to the financial equivalent of Red at the airports.
ParticipantThese have the potential to unwind the entire financial system as we know it…
Imagine if you bought an insurance policy from Company A, because they were solid and well capitalized, HOWEVER Company A then sold it to a weaker company, who then sold it to others.
Today, you cannot even find out who you are actually insured by.
CDS give them the right to do that.
In another twist, YOU as the insured can sell the policy also, if you can find a buyer.
This is so complex, people won’t grasp the potential consequences.
Regarding subprime loans, most people still have no clue what one is.
We are closer to the financial equivalent of Red at the airports.
ParticipantThese have the potential to unwind the entire financial system as we know it…
Imagine if you bought an insurance policy from Company A, because they were solid and well capitalized, HOWEVER Company A then sold it to a weaker company, who then sold it to others.
Today, you cannot even find out who you are actually insured by.
CDS give them the right to do that.
In another twist, YOU as the insured can sell the policy also, if you can find a buyer.
This is so complex, people won’t grasp the potential consequences.
Regarding subprime loans, most people still have no clue what one is.
We are closer to the financial equivalent of Red at the airports.
ParticipantThese have the potential to unwind the entire financial system as we know it…
Imagine if you bought an insurance policy from Company A, because they were solid and well capitalized, HOWEVER Company A then sold it to a weaker company, who then sold it to others.
Today, you cannot even find out who you are actually insured by.
CDS give them the right to do that.
In another twist, YOU as the insured can sell the policy also, if you can find a buyer.
This is so complex, people won’t grasp the potential consequences.
Regarding subprime loans, most people still have no clue what one is.
We are closer to the financial equivalent of Red at the airports.
September 10, 2008 at 1:57 PM in reply to: Will owning a home soon become as common as owning a car? #268859ParticipantTrue rent control doesn’t set the bar on rates,
It allows people to have reasonable increases in their rent that doesn’t force them to move…
When they do move, you can increase to market rents. No subletting allowed.If it’s not worth it for a landlord to live with those rules, then don’t buy the property and don’t become a landlord.
You might get a tenant that will stay for 40 years, and they can live the “New American Dream” without owning a home.
In the process they will pay off your mortgage, and you will have something to pass on to your heirs. They will continue to collect rent.
Even if the property never appreciates, it’s better than SSI which stops the month that you drop dead
Less demand will result in lower, more stable prices. You cannot have it both ways.
I don’t care if prices stay the same for 20 years.
EXPECTING appreciation has been one of the biggest problems contributing to the housing mess.There are still benefits to owning rental property that never appreciates.
Govt setting rental rates,,,, now that would be a terrible idea.
HLS
September 10, 2008 at 1:57 PM in reply to: Will owning a home soon become as common as owning a car? #268872ParticipantTrue rent control doesn’t set the bar on rates,
It allows people to have reasonable increases in their rent that doesn’t force them to move…
When they do move, you can increase to market rents. No subletting allowed.If it’s not worth it for a landlord to live with those rules, then don’t buy the property and don’t become a landlord.
You might get a tenant that will stay for 40 years, and they can live the “New American Dream” without owning a home.
In the process they will pay off your mortgage, and you will have something to pass on to your heirs. They will continue to collect rent.
Even if the property never appreciates, it’s better than SSI which stops the month that you drop dead
Less demand will result in lower, more stable prices. You cannot have it both ways.
I don’t care if prices stay the same for 20 years.
EXPECTING appreciation has been one of the biggest problems contributing to the housing mess.There are still benefits to owning rental property that never appreciates.
Govt setting rental rates,,,, now that would be a terrible idea.
HLS
September 10, 2008 at 1:57 PM in reply to: Will owning a home soon become as common as owning a car? #268918ParticipantTrue rent control doesn’t set the bar on rates,
It allows people to have reasonable increases in their rent that doesn’t force them to move…
When they do move, you can increase to market rents. No subletting allowed.If it’s not worth it for a landlord to live with those rules, then don’t buy the property and don’t become a landlord.
You might get a tenant that will stay for 40 years, and they can live the “New American Dream” without owning a home.
In the process they will pay off your mortgage, and you will have something to pass on to your heirs. They will continue to collect rent.
Even if the property never appreciates, it’s better than SSI which stops the month that you drop dead
Less demand will result in lower, more stable prices. You cannot have it both ways.
I don’t care if prices stay the same for 20 years.
EXPECTING appreciation has been one of the biggest problems contributing to the housing mess.There are still benefits to owning rental property that never appreciates.
Govt setting rental rates,,,, now that would be a terrible idea.
HLS
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