Actually the data provided by NSR shows that about 50% of the households in the Encinitas Union Elem School Disrict (Enc. and South Carlsbad) make over $100k per year. I think that is accurate and perhaps low. I’d estimate 75% of the households at my kid’s elem. school earn over $100k and probably 25% earn over $250k. Heck my neghbor’s wife earns about $50k per year in pharma sales and she probably works 10 hours per week tops.
Schiff is a PermaBear. Whenever there is a rally he comes out with an article explaining why the next market direction is down. Whenever there is a downturn he comes out with an article on why this is just the beginnng of a huge Bear market.
It’s not objective. You know exactly what he’s going to say before reading it. It’s like trying to get objective commentary from Limbaugh or O’Reilly
Are you talking about investors in the stock or the loans?
The group(s) that bought the loans undoubtedly did a lot of due diligence in researching the loan portfolios to determine their worth and figuring that a good percentage will default. The folks buying the stock who have no access to LEND’s book or loan portfolios are pure speculators. If institutional investors are paying more than face value for their loans then they have some good assets. Or at least they “had” some good assets. I’d be more worried about what they kept than what they sold.
A better option is to buy a home or condo you can easily afford with a 20% down payment and still save a significant amount of money in a combination of cash and equities. After 10 years and increased earnings and savings you’ll have enough saved to increase your 20% down payment on a more expensive home. Repeat every 10 years and trade down once you retire.
I’m not bug Jim Rodgers fan. Remember the crash of the Chinese stock market 4 weeks ago? Well it made up that 10% dip and has busted through to all time highs again, but Rodgers says that it has to go higher even though it has tripled in about 3 years. Now that’s a bubble.
China already had a housing bubble and bust caused by rampant speculation in certain markets but that got no play over here for some reason. Apparently you can have the residential housing market go bust and the stock market goes though the roof. Who knew?
