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LookoutBelow
ParticipantDoesnt matter….PLUS it'll never happen
ParticipantReminds me of ENRON !….except 3,000 times more
ParticipantThats right TemeculaGuy….you dont need to grind or drive a hard bargain when the service or job is priced fairly to begin with…. I agree.
The problem comes when the termite guy wants to drive a ferrari and expects YOU to pay for it. NOW you must drive a hard bargain.
Shitstorm coming…..Fasten seat belts AND shoulder harnesses folks…
That is all
Participant"Van-Kong" …hot real estate action ?…Is this post from 5 years ago ?
Jeeez……Barnum was right, a sucker IS born every minute
ParticipantHahahahaaaaa….!
Wouldnt make you sub prime's, sub prime lender ?
That ought to be a good investment there chief !…Hahahaha God bless you and good luck….. Hahahahahaaaaa
ParticipantJ6P will spend until his credit card is rejected……I have NO faith in the restraint of the typical american, neither should you. Its not pessimistic, its reality …I offer the economy of the last 5 years as evidence to this.
This is going to start in earnest 1st qtr/08 folks and its going to be bad and get worse….it hasnt even started yet ….EVERYTHING is intertwined…..EVERYTHING.
There is no industry sector or avenue of commerce that WONT be greatly affected by the coming woes.
That is all.
September 28, 2007 at 6:01 PM in reply to: VOTE: state of the bubble collapse, Worse, OR Better than your expectation? #86298ParticipantSo far…as I expected….I got a feeling its going to be a lot worse than I expected….there is MORE to the equation now than 2 years ago…think sub prime/CDO/MBS….tsunami is a gentle description
ParticipantThere is NO group or financial income range that wont be affected by the shitstorm coming…
A joker I played golf with last week told me his house was still worth almost double what he paid for it in 2000…I said Really?…."try" to sell it for that price then.…..He then told me that almost every house on his street has a for sale sign on it…Most people are all underwater already and the damn hasnt even broke yet !!!
Cognitive dissonance…google it if you dont know what it means….its in the lexicon for the "NEW", new economy……
ParticipantYes Hawaii is MUCH different than the mainland….in as much as it is a 6 hour plane ride from the mainland and real estate investments SUCKS there…..good luck selling your house….by the time you sell it (IF you sell it) then there will be PLENTY of cheap homes here for you to rent or buy if you can preserve your credit. If you can, then it will be a wonderland of cheap real estate opportunities for you and your family.
As I say….GOOD LUCK….hopefully you had a rich uncle die and leave you a fortune so you wont have to try to get a mortgage here.
September 25, 2007 at 7:46 AM in reply to: Did this rate cut do anything to help the economy? #85807ParticipantIm not entirely certain that this coming recession will be a DE-flationary one or an IN-flationary one…All the indicators that I see dictate a possible DE-flationary recession….unless EVERYBODY in the world gets a 300% pay INCREASE !!!…
Now how the hell could that happen ?
September 25, 2007 at 7:44 AM in reply to: Did this rate cut do anything to help the economy? #85806ParticipantExactly where do you think these people will come up with the 4G's per month you think it will take to rent a place ?
If they cant do it for ownership and having their credit on the line, then how the hell or why the hell would they do it for rent ? Theyve overbuilt to the max…they might "try" to jack the rents up to that, but it'll just sit empty…till the bank gets the property back, then THEY will rent it out for WHATEVER somebody will pay for it…bankers are greedy sluts that way, especially if it concerns their very survival
4,000 dollar rents for crackerbox SFH's ?…Never happen…I expect some big banks to go down here shortly (by summer 08) no matter WHAT the fed does. they gave up their ability to contain this disaster 3 years ago….now its out of control and market cycles will take over…. the "Pain Train" is now rollling out of the station
ParticipantHahahahahaaa….COMPS ?….COMPS MY ASS !
Comps mean NOTHING in this new arena ! Nobody is interested in what somebody paid for it back in the "Salad Day's" of irrational exuberance ! THAT MEANS NOTHING TODAY.
Think 2.5-3.5X annual earnings MAX !
What is a house worth ?:
EXACTLY what somebody is willing to pay for it, and what they can get FINANCED for…THAT may be TWO SEPARATE things now
This lesson will come with a LOT OF PAIN FOR THE IGNORANT !
ParticipantNo comment
ParticipantWHAT AN EXCELLENT SHORT VIDEO !
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