[HLS]

Focus on housing IS a waste, but it greased the economy for a few years… only now are people starting to realize that the “grease” was actually KY Jelly, which is being used for its intended application.

Many industries profited handsomely.

The tax incentives and backing of financing creates an artificial, manipulated market.

“Saving homeowners” that have nothing to save is also artificially keeping prices high.

With 401K’s allowing pre tax dollars to be “invested” but hitting people with a 10% penalty if they want THEIR money, this also allows for an artificial, manipulated market and allows thousands to profit handsomely, while millions are along for the ride, thinking that they understand what they are doing, until they realize that they don’t…

It’s all a pyramid scheme/ shell game built on the greater fool theory that is fun to play until you lose, and only then do people think it is unfair. While it’s going up, nobody sues or complains.

Everything works until it doesn’t work anymore.. HLS

[HLS]

Focus on housing IS a waste, but it greased the economy for a few years… only now are people starting to realize that the “grease” was actually KY Jelly, which is being used for its intended application.

Many industries profited handsomely.

The tax incentives and backing of financing creates an artificial, manipulated market.

“Saving homeowners” that have nothing to save is also artificially keeping prices high.

With 401K’s allowing pre tax dollars to be “invested” but hitting people with a 10% penalty if they want THEIR money, this also allows for an artificial, manipulated market and allows thousands to profit handsomely, while millions are along for the ride, thinking that they understand what they are doing, until they realize that they don’t…

It’s all a pyramid scheme/ shell game built on the greater fool theory that is fun to play until you lose, and only then do people think it is unfair. While it’s going up, nobody sues or complains.

Everything works until it doesn’t work anymore.. HLS

[HLS]

For many people, if they don’t laugh, they will cry. Billions/Trillions of perceived “wealth” has disappeared. We are a nation of millions walking around like zombies, many people are insolvent, just like the banks, and the govt, but unable to accept it, wanting to believe that if they just hang on it will come back.

The post 2002 inflating bubble was at first a documentary, then it became a comedy, then it morphed into a drama, now it has turned into a horror flick.

For about 5-6 years I have warned many that this was going to get really, really ugly, long before the peak and before I discovered Pigg’s. I didn’t realize that there were a core group of folks that also understood what had happened, I truly thought I was alone.. so many just didn’t want to listen.

So many people in the industry were clueless, it was incredible, thinking that they were real estate “professionals”

As many on this site, I laughed at the flippers that were talking about being serious “investors” and I sat on the sidelines trying to figure out when the madness would stop.

That was about 6 trillion dollars ago, measured by the national debt.

I truly wonder if the stock market/investment/401K industry is really any different ??
Everyone is an expert but is surprised by tomorrow’s market activity.

It’s a pyramid/ponzi/madoff scheme that will work until it doesn’t work anymore.

When the average person loses confidence, the game is over. Time to put the balls away, pack up the uniforms, turn the lights out and get on the bus in search of a new venture.

History repeats itself, yes it does…. HLS

[HLS]

For many people, if they don’t laugh, they will cry. Billions/Trillions of perceived “wealth” has disappeared. We are a nation of millions walking around like zombies, many people are insolvent, just like the banks, and the govt, but unable to accept it, wanting to believe that if they just hang on it will come back.

The post 2002 inflating bubble was at first a documentary, then it became a comedy, then it morphed into a drama, now it has turned into a horror flick.

For about 5-6 years I have warned many that this was going to get really, really ugly, long before the peak and before I discovered Pigg’s. I didn’t realize that there were a core group of folks that also understood what had happened, I truly thought I was alone.. so many just didn’t want to listen.

So many people in the industry were clueless, it was incredible, thinking that they were real estate “professionals”

As many on this site, I laughed at the flippers that were talking about being serious “investors” and I sat on the sidelines trying to figure out when the madness would stop.

That was about 6 trillion dollars ago, measured by the national debt.

I truly wonder if the stock market/investment/401K industry is really any different ??
Everyone is an expert but is surprised by tomorrow’s market activity.

It’s a pyramid/ponzi/madoff scheme that will work until it doesn’t work anymore.

When the average person loses confidence, the game is over. Time to put the balls away, pack up the uniforms, turn the lights out and get on the bus in search of a new venture.

History repeats itself, yes it does…. HLS

[HLS]

For many people, if they don’t laugh, they will cry. Billions/Trillions of perceived “wealth” has disappeared. We are a nation of millions walking around like zombies, many people are insolvent, just like the banks, and the govt, but unable to accept it, wanting to believe that if they just hang on it will come back.

The post 2002 inflating bubble was at first a documentary, then it became a comedy, then it morphed into a drama, now it has turned into a horror flick.

For about 5-6 years I have warned many that this was going to get really, really ugly, long before the peak and before I discovered Pigg’s. I didn’t realize that there were a core group of folks that also understood what had happened, I truly thought I was alone.. so many just didn’t want to listen.

So many people in the industry were clueless, it was incredible, thinking that they were real estate “professionals”

As many on this site, I laughed at the flippers that were talking about being serious “investors” and I sat on the sidelines trying to figure out when the madness would stop.

That was about 6 trillion dollars ago, measured by the national debt.

I truly wonder if the stock market/investment/401K industry is really any different ??
Everyone is an expert but is surprised by tomorrow’s market activity.

It’s a pyramid/ponzi/madoff scheme that will work until it doesn’t work anymore.

When the average person loses confidence, the game is over. Time to put the balls away, pack up the uniforms, turn the lights out and get on the bus in search of a new venture.

History repeats itself, yes it does…. HLS

[HLS]

For many people, if they don’t laugh, they will cry. Billions/Trillions of perceived “wealth” has disappeared. We are a nation of millions walking around like zombies, many people are insolvent, just like the banks, and the govt, but unable to accept it, wanting to believe that if they just hang on it will come back.

The post 2002 inflating bubble was at first a documentary, then it became a comedy, then it morphed into a drama, now it has turned into a horror flick.

For about 5-6 years I have warned many that this was going to get really, really ugly, long before the peak and before I discovered Pigg’s. I didn’t realize that there were a core group of folks that also understood what had happened, I truly thought I was alone.. so many just didn’t want to listen.

So many people in the industry were clueless, it was incredible, thinking that they were real estate “professionals”

As many on this site, I laughed at the flippers that were talking about being serious “investors” and I sat on the sidelines trying to figure out when the madness would stop.

That was about 6 trillion dollars ago, measured by the national debt.

I truly wonder if the stock market/investment/401K industry is really any different ??
Everyone is an expert but is surprised by tomorrow’s market activity.

It’s a pyramid/ponzi/madoff scheme that will work until it doesn’t work anymore.

When the average person loses confidence, the game is over. Time to put the balls away, pack up the uniforms, turn the lights out and get on the bus in search of a new venture.

History repeats itself, yes it does…. HLS

[HLS]

For many people, if they don’t laugh, they will cry. Billions/Trillions of perceived “wealth” has disappeared. We are a nation of millions walking around like zombies, many people are insolvent, just like the banks, and the govt, but unable to accept it, wanting to believe that if they just hang on it will come back.

The post 2002 inflating bubble was at first a documentary, then it became a comedy, then it morphed into a drama, now it has turned into a horror flick.

For about 5-6 years I have warned many that this was going to get really, really ugly, long before the peak and before I discovered Pigg’s. I didn’t realize that there were a core group of folks that also understood what had happened, I truly thought I was alone.. so many just didn’t want to listen.

So many people in the industry were clueless, it was incredible, thinking that they were real estate “professionals”

As many on this site, I laughed at the flippers that were talking about being serious “investors” and I sat on the sidelines trying to figure out when the madness would stop.

That was about 6 trillion dollars ago, measured by the national debt.

I truly wonder if the stock market/investment/401K industry is really any different ??
Everyone is an expert but is surprised by tomorrow’s market activity.

It’s a pyramid/ponzi/madoff scheme that will work until it doesn’t work anymore.

When the average person loses confidence, the game is over. Time to put the balls away, pack up the uniforms, turn the lights out and get on the bus in search of a new venture.

History repeats itself, yes it does…. HLS

[HLS]

[quote=waterboy] 7/1 ARM at 4.875 [/quote]

For most people, Thinking that you only need a 7 YR ARM at the same rate as a 30 YR fixed, to save a few dollars on closing costs is only something that a foolish person would even consider..

[HLS]

[quote=waterboy] 7/1 ARM at 4.875 [/quote]

For most people, Thinking that you only need a 7 YR ARM at the same rate as a 30 YR fixed, to save a few dollars on closing costs is only something that a foolish person would even consider..

[HLS]

[quote=waterboy] 7/1 ARM at 4.875 [/quote]

For most people, Thinking that you only need a 7 YR ARM at the same rate as a 30 YR fixed, to save a few dollars on closing costs is only something that a foolish person would even consider..

[HLS]

[quote=waterboy] 7/1 ARM at 4.875 [/quote]

For most people, Thinking that you only need a 7 YR ARM at the same rate as a 30 YR fixed, to save a few dollars on closing costs is only something that a foolish person would even consider..

[HLS]

[quote=waterboy] 7/1 ARM at 4.875 [/quote]

For most people, Thinking that you only need a 7 YR ARM at the same rate as a 30 YR fixed, to save a few dollars on closing costs is only something that a foolish person would even consider..

[HLS]

WB..
I can tell you that you can get approved to carry more debt than you should be comfortable having.
The system wants you to be in debt…

I don’t think that there is a maximum ratio that is right for everyone. The more income you have the more dollars you have leftover, so a person with $3000 a month with a 50% ratio only has $1500 (gross) left, but someone with $5000 a month has $2500 a month leftover… Their net living expenses may be very similar.

You get approved based on gross income. You just need to know what you are comfortable with, and only factor in your tax benefit if you want to, otherwise it’s a bonus.

If you have fixed income, In general, I wouldn’t recommend total monthly debts much higher than 40%,
including housing expenses and personal expenses.

Many people have debts between 50% & 60% of their gross income, which is basically living beyond their means. Many people take home between 70%-80% of their gross, and can’t save anything.

Yes, I own.

[HLS]

WB..
I can tell you that you can get approved to carry more debt than you should be comfortable having.
The system wants you to be in debt…

I don’t think that there is a maximum ratio that is right for everyone. The more income you have the more dollars you have leftover, so a person with $3000 a month with a 50% ratio only has $1500 (gross) left, but someone with $5000 a month has $2500 a month leftover… Their net living expenses may be very similar.

You get approved based on gross income. You just need to know what you are comfortable with, and only factor in your tax benefit if you want to, otherwise it’s a bonus.

If you have fixed income, In general, I wouldn’t recommend total monthly debts much higher than 40%,
including housing expenses and personal expenses.

Many people have debts between 50% & 60% of their gross income, which is basically living beyond their means. Many people take home between 70%-80% of their gross, and can’t save anything.

Yes, I own.

[HLS]

WB..
I can tell you that you can get approved to carry more debt than you should be comfortable having.
The system wants you to be in debt…

I don’t think that there is a maximum ratio that is right for everyone. The more income you have the more dollars you have leftover, so a person with $3000 a month with a 50% ratio only has $1500 (gross) left, but someone with $5000 a month has $2500 a month leftover… Their net living expenses may be very similar.

You get approved based on gross income. You just need to know what you are comfortable with, and only factor in your tax benefit if you want to, otherwise it’s a bonus.

If you have fixed income, In general, I wouldn’t recommend total monthly debts much higher than 40%,
including housing expenses and personal expenses.

Many people have debts between 50% & 60% of their gross income, which is basically living beyond their means. Many people take home between 70%-80% of their gross, and can’t save anything.

Yes, I own.

[Author]

Posts