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LookoutBelow
ParticipantHey Homey ….Does it make you wonder if all the crap you’ve been reading in the paper is propaganda ?
Do you really think a “news” organization would actually shoot themselves in the foot with the “true” stories of the average real estate sales ? Ever since the big corps have bought these news organizations, in the late 80’s, ANYTHING you read, negative or positive, of ANY issue is suspect. Its not news….its propaganda. You got a good taste of it. Feel lucky you didnt get creamed…..like the rest soon.
ParticipantSooner rather than later……..Think 1929…When it finally does happen, it will happen so quickly it will make ones head swim. I anticipate a major decline by this time next year. 2007 will be a bad, bad year for real estate “Investor/gamblers”.
If you are in your 40’s now, you may want to revisit your thinking on owning anything. What do you REALLY get with that moniker of “Owning” anyway ?When the financial markets dry up/ tighten liquidity, the real estate prices will crash, when the real estate crashes, the banks holding that goofy paper will fail soon there after (1931 had 1,883 banks fail in one year) and the forclosure process has happened, THEN if you want to “own” something, feel free to buy….but why ? The next cycle will take at least 10-20 more years to peak again, how old will you be then ?
ParticipantShort term CD’s…..everything else involves lots of risk.
forget the carrot on the end of the stick with returns on investment….like that drivel about “Emerging Markets” people deserve to lose their money in those scams…..its investing in 3rd world dumps with unstable governments and poverty beyond comprehension……Of course the stock pimps push this crap like its a real bargain……
ParticipantAnswer your own Question !
Go out today and buy a Sunday edition of the “Union Spittoon” newspaper, (rag) then spend 5 minutes and look through it, and figure out who does the MOST amount of paid advertising ?……Real estate is right up there with the car dealers….Notice how BOTH industries are in the tank ? Hmmm…..Correlations …anyone ?
ParticipantIts not the Real Estate Prices !
Its our litiguous culture here in SoCal. Doctors have no problem buying houses, they make a buck or two…its their malpractice insurance they cant afford here. We can thank our lawyer population for that. I know a few doctors that are schmoe’s, But I’ve met very few lawyers who WERENT schmoe’s. They are the worst people in a society. Some are needed, but this is ridiculous. There are some good ones out there, in both professions but its getting harder and harder to find em.
Problem: 7 BILLION people on this planet
Problem: 300 MILLION people in the U.S.
Problem : 35.8 MILLION people living in CalWe have completely overloaded the capacity of our infrastructure, ……..doom to follow.
(Schmoe- A person that is unsavory in moral values and not pleasant to be around, otherwise commonly referred to as an A$$hole)
ParticipantThe problem will correct itself, when the economy slows down….Wayyyy down and those jobs become sought after again. It wont be rosy forever.
ParticipantYES ! Expect this to happen here by 08, after the ’07’ ARM majority reset. Revolutions are started this way. Better start dusting off the guillotine, Viva La France.
ParticipantRetirement wont be easy from now on. Its a thing of the past, work until you die will be the only way for the vast majority.
Just make sure you die before you die. Life is a journey, not a destination PS.
If your work is your interest and what you love to do and what you would spend your money and free time on, then you are already reaping the rewards of retirement. If not ? Some changes are in order in ones life.I know many people who are “retired” without the distraction of wealth. THATS a life worth living.
ParticipantKIKI, you have to go inward for the answer. You have to ask yourself: “other than emotional reason’s of materialism, WHY would you want to own anything” ? If it makes sense, I understand, but it DOES NOT make sense currently. Are your decorating tastes so weird that in order to “decorate” your abode you must own it ? If not than why is it so important to you to “own” something ? Can you take it with you when you go ? Will you be paying CASH for it with no mortgage ?
When buying real estate rivals the expense of renting real estate, and your tax situation allows you to take advantage of it, then you should buy. But spending 3 dollars to save one dollar in taxes is sillyness.
Be different than the herd of sheeple, throw away the idea of “owning” today, its a game designed to indebt you, not empower you. Its all f**ked up presently, it will take years to unravel. Rethink your value system and disarm your opponents in this inner struggle your fighting. You are no less of a person if you rent, in fact, it will soon be viewed as a sign of mental prowess, discipline and restraint, all good virtues. Dont fall for that ownership phallacy of being a good or better citizen of the community because you own instead of rent.
If everybody with financial wherewithall decided tomorrow that they “no longer” felt it necessary to own real estate, the prices would tumble and get back to some type of sanity, until then, greed and materialism are the order of the day, thats a ride that you dont want to get on.
Ease your mind, take a break and give yourself credit for being shrewd and displaying restraint, your on the right path, the market will come to you when this storm passes.
ParticipantMarkets dont move by fundamentals or economic dynamics, they move by emotions, mass emotions. Industrial pshycology. Your odds are better in Las Vegas roulette wheel betting on colors, at least there its almost 50/50, no upper math, no crazy charts, no data to pour over, free drinks, pretty gaudy surroundings, cheesy music, lounge lizard, second rate free singing reviews, Brylcream overdoses, Sparkly sequined neon blue dinner jackets, Whooops…. I was describing the NASDAQ trading floor.
ParticipantWhen I was in “Fear” mode of retaining some wealth in diversification so I coudnt be “wiped out” by one thing or another, I bought gold krugerrands and canadian loons. I also had some bullion. I hung on to that for a very short time and didnt really lose anything or make anything either, but the logistics and security required to physically hold that stuff was more than I could bear. No wonder we went to a paper monetary system BACKED by gold rather than actually possessing that stuff. The fiat crap we use today is nothing other than a scam…but as long as we all agree to be scammed, its money we use.
I was getting creative with trying to hide it too, in fact, it got ridiculous, I finally wised up and dumped it. My lovely wife pointed this out to me whilst I was in my “Rambo” stage of agressively protecting MY wealth !!! I didnt quite get to the point of dressing up in camo fatigues and wearing headbands with skulls and bones on em, but I was headed there !! Hahaahaaa
Things to remember:
1. Gold can be made illegal just by possessing it. Its been done before, will be done again if times get tough enough and people revert back to gold without the govt’s consent.
2. I determined it takes 8 times its actual weight in firearms and ammo to secure it….minimum.
Plus you stand the chance of turning into a paranoid gun nut trying to protect it. Even then….its still not really safe.3. Holding “Gold or Silver certificates” is just exactly that, a “Certificate” not actual gold or silver. That defeats its purpose as an alternate store of wealth because it is channeled, controlled and traded through the avenues that originally are not trusted for their current stability….The Money Markets. Its volatile and “spendy”, …too rich for my blood.
In the end, gold is not the answer, there is no answer, but if more people want something like the economy to work than those who DONT want it to work, we might have a chance.
This economy is like a huge “rudderless” ship that goes in whatever direction the majority of the passengers lean towards. People like Bernanke are holding the wheel that is not connected to any rudder, they only think they are.
Right now, everybody is and has been leaning towards the “greed” side of this ship…for the last 5-6 years anyway.
I say, quit living your life worrying about the future you cannot control, the politicians are paid to do that, they suck at it I know, and they are mostly all crooks but you’ll spend your whole life worrying about stuff that you cant do anything about.
I gave up and went back to living my life doing the things that make me happy, I fully intend on dying broke a long time from now, whatever is left is going to the kids (they’re older) but I have no unsubstantiated BS, currently trendy notions that it is MY responsiblity to make their lives easier, the fun is making YOUR own life easier, not having it done for you. If I can with whats left GREAT ! If not, sorry.Believe it or not, I had more fun “trying and planning” to make my life easier than I do now !
Life is not a destination…its a journey, try to get enough moola to do what it is you want to do and live the life you want and your automatically a huge success with minimal regrets.
chase the almighty dollar in obscenely large quantities and you quickly become a slave. Only the slaves wear rolexes in this camp.Enough of this “simple surfer philosophy” Surfs up !… gotta go make some cheap memories.
Cheers,
ParticipantAha Grasshopper !!! Powayseller has figured out the key to prosperity ! Its a conundrum, If a person “saves” their way to prosperity, they always become afflicted with the disease I call the “Cheap Disease”…they only have their seemingly larger amounts of capital by “DENYING” themselves the benefits of wealth and abundance. Not a lifestyle worth living in my book, trading your life experiences and possibly life changing moments for an obscure number printed on a sheet of paper mailed to you from your bank every month does not define your worth. It doesnt define anybodies worth really, it merely gives you a sense of false security.
I never thought anything was tougher in my life than making money, I wanted larger than average amounts that could give me some peace of mind and financial stability, but I was WRONG!! I found out later, that “KEEPING” wealth is much harder to do than make it. It takes on its own entity, living, breathing, feeding, lifeform.
Now you have something bigger to worry about, even more so than when you were a “Have Not”. Being categorized in the column of “Haves” is much more stressful than being in the column of being a “Have not”
Why ?
I’ll try to explain:Trying and fighting to save something like a bank account, property, wealth..etc..is mentally restricting because its a “defensive” mindset IE. You now have “something to lose”…whereas, to get that same wealth, you had to take chances, be shrewd, logical, committed and ballsy….that is a “Offensive” oriented mindset. Not very many people are good at both sides of the equation of wealth.
Cheap millionaires (savers) cant spend it or use it, and Gunslinger, damned the torpedoes millionaires types lose it…the better life is somewhere in between. Im trying for that. But, when your on your death bed, which of the two types “photo albums” of their lives would you like to be looking at ?
Surfer logic…my apologies if its too simplistic and or simple, but its the way I see it.
Cheers,
ParticipantYeah right……the only stampede coming here to SoCal are people that run weedeaters and push lawnmowers for a living.
They arent the kind of population increases that a 1st world city looks to for positive growth, these people dont buy new Ford Cars, buy houses with real down payments, work at jobs that “add” to a society. No, these are 3rd worlders who are here to gaff off the system and degrade the current infrastructure and make it infinitely more dangerous to the previous residents.
Population stampede my arse ! Hahahahaaaaa !!!! …”Sheeple”…sheesh….. My father was right so many years ago when he told me:
“Never OVERestinmate the intelligence of the American people” This story is “happy talk” or maybe “propaganda” did the person who wrote it have a spanish surname ?ParticipantI was just wondering the other day….I havent seen one of those beasts in months, there used to be a lot of em running around. This explains it.
The dealers are trying their hands at manipulating their markets…..Only Greenspan can pull that type of thing off Hahahaaa !
I have a friend in the new car business (dealer owner), he’s dying right now.
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