[kev374]

hahaha, this is GREAT! I liquidated ALL my holdings when the market was at 13500 and people were saying I was crazy because the DOW was going to 15k, GREED is NEVER good!! As Kenny R says you’ve got to know when to fold ’em 😉

If I had not sold, my portfolio would’ve been 10% down already and my hunch is that it has a lonnnng way to go down in 2008. There may be mini rallys but I think it will never peak again and the long term trend is way down, we have so much negative news to come in 2008, ARM resets, foreclosures, credit card defaults, credit crunch, inflation, more job losses, recession etc. etc. etc.

[kev374]

hahaha, this is GREAT! I liquidated ALL my holdings when the market was at 13500 and people were saying I was crazy because the DOW was going to 15k, GREED is NEVER good!! As Kenny R says you’ve got to know when to fold ’em 😉

If I had not sold, my portfolio would’ve been 10% down already and my hunch is that it has a lonnnng way to go down in 2008. There may be mini rallys but I think it will never peak again and the long term trend is way down, we have so much negative news to come in 2008, ARM resets, foreclosures, credit card defaults, credit crunch, inflation, more job losses, recession etc. etc. etc.

[kev374]

I used to watch her show on Saturday pretty regularly, I think there is a lot more information here on these blogs for those that want more than just basic “save more spend less” type advice.

[kev374]

I used to watch her show on Saturday pretty regularly, I think there is a lot more information here on these blogs for those that want more than just basic “save more spend less” type advice.

[kev374]

I used to watch her show on Saturday pretty regularly, I think there is a lot more information here on these blogs for those that want more than just basic “save more spend less” type advice.

[kev374]

I used to watch her show on Saturday pretty regularly, I think there is a lot more information here on these blogs for those that want more than just basic “save more spend less” type advice.

[kev374]

I used to watch her show on Saturday pretty regularly, I think there is a lot more information here on these blogs for those that want more than just basic “save more spend less” type advice.

[kev374]

Patientrenter, I started noticing price declines gaining momentum only Q3 of this year so we’re just getting started, too early for some of these to be good deals just yet.

Also, if you look at lot of these properties they are all upside down so reducing price is not an option. It has to go through the foreclosure cycle and sold REO which will take 4 months to show up as inventory, at least that is my thinking. Add another few months for lenders to adjust prices downward from their initial list prices. I say by Q3 2008 we will see some real action with prices.

I believe lenders WILL slash prices aggressively to move inventory. They are desperate for working capital to prevent shutting down.

[kev374]

Patientrenter, I started noticing price declines gaining momentum only Q3 of this year so we’re just getting started, too early for some of these to be good deals just yet.

Also, if you look at lot of these properties they are all upside down so reducing price is not an option. It has to go through the foreclosure cycle and sold REO which will take 4 months to show up as inventory, at least that is my thinking. Add another few months for lenders to adjust prices downward from their initial list prices. I say by Q3 2008 we will see some real action with prices.

I believe lenders WILL slash prices aggressively to move inventory. They are desperate for working capital to prevent shutting down.

[kev374]

Patientrenter, I started noticing price declines gaining momentum only Q3 of this year so we’re just getting started, too early for some of these to be good deals just yet.

Also, if you look at lot of these properties they are all upside down so reducing price is not an option. It has to go through the foreclosure cycle and sold REO which will take 4 months to show up as inventory, at least that is my thinking. Add another few months for lenders to adjust prices downward from their initial list prices. I say by Q3 2008 we will see some real action with prices.

I believe lenders WILL slash prices aggressively to move inventory. They are desperate for working capital to prevent shutting down.

[kev374]

Patientrenter, I started noticing price declines gaining momentum only Q3 of this year so we’re just getting started, too early for some of these to be good deals just yet.

Also, if you look at lot of these properties they are all upside down so reducing price is not an option. It has to go through the foreclosure cycle and sold REO which will take 4 months to show up as inventory, at least that is my thinking. Add another few months for lenders to adjust prices downward from their initial list prices. I say by Q3 2008 we will see some real action with prices.

I believe lenders WILL slash prices aggressively to move inventory. They are desperate for working capital to prevent shutting down.

[kev374]

Patientrenter, I started noticing price declines gaining momentum only Q3 of this year so we’re just getting started, too early for some of these to be good deals just yet.

Also, if you look at lot of these properties they are all upside down so reducing price is not an option. It has to go through the foreclosure cycle and sold REO which will take 4 months to show up as inventory, at least that is my thinking. Add another few months for lenders to adjust prices downward from their initial list prices. I say by Q3 2008 we will see some real action with prices.

I believe lenders WILL slash prices aggressively to move inventory. They are desperate for working capital to prevent shutting down.

[kev374]

Inflation is a big wildcard in this. If we have high inflation and no growth then that is stagflation and forget about the housing market in that case because there will be more serious issues like keeping yourself employed! Dirt cheap housing prices mean nothing if cost of commodities are skyrocketing (already happening unfortunately), pay is declining and you lose your job!!

[kev374]

Inflation is a big wildcard in this. If we have high inflation and no growth then that is stagflation and forget about the housing market in that case because there will be more serious issues like keeping yourself employed! Dirt cheap housing prices mean nothing if cost of commodities are skyrocketing (already happening unfortunately), pay is declining and you lose your job!!

[kev374]

Inflation is a big wildcard in this. If we have high inflation and no growth then that is stagflation and forget about the housing market in that case because there will be more serious issues like keeping yourself employed! Dirt cheap housing prices mean nothing if cost of commodities are skyrocketing (already happening unfortunately), pay is declining and you lose your job!!

[Author]

Posts