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patientrenter
Participant[quote=DaCounselor]No, this never was rhetoric – it has been in the works for many months. Uncle Sam is going to buy at least $500 billion of securitized loans (I believe they will ultimately buy more) and as the owner they can do whatever they want to the terms. I will give you one guess what that means.[/quote]
DaC is, sadly, right. (BTW, DaC, you really do know your stuff. What legal line of work do you specialize in that keeps you so well informed?)
Unfortunately, responsible people joining the ranks of irresponsible buyers now is a low-yield proposition. It was a game that paid off hugely when prices were going up. Piggingtons outraged by what is happening should save their powder for maybe 5 years from now, when the market is going back up again from a more attractive low point. Then buy a house every year using none of your own money, and sell the most appreciated house every year, after holding for 1-3 years. That way you have an excellent chance of keeping some good winnings, and risk nothing.
Participant[quote=DaCounselor]No, this never was rhetoric – it has been in the works for many months. Uncle Sam is going to buy at least $500 billion of securitized loans (I believe they will ultimately buy more) and as the owner they can do whatever they want to the terms. I will give you one guess what that means.[/quote]
DaC is, sadly, right. (BTW, DaC, you really do know your stuff. What legal line of work do you specialize in that keeps you so well informed?)
Unfortunately, responsible people joining the ranks of irresponsible buyers now is a low-yield proposition. It was a game that paid off hugely when prices were going up. Piggingtons outraged by what is happening should save their powder for maybe 5 years from now, when the market is going back up again from a more attractive low point. Then buy a house every year using none of your own money, and sell the most appreciated house every year, after holding for 1-3 years. That way you have an excellent chance of keeping some good winnings, and risk nothing.
Participant[quote=DaCounselor]No, this never was rhetoric – it has been in the works for many months. Uncle Sam is going to buy at least $500 billion of securitized loans (I believe they will ultimately buy more) and as the owner they can do whatever they want to the terms. I will give you one guess what that means.[/quote]
DaC is, sadly, right. (BTW, DaC, you really do know your stuff. What legal line of work do you specialize in that keeps you so well informed?)
Unfortunately, responsible people joining the ranks of irresponsible buyers now is a low-yield proposition. It was a game that paid off hugely when prices were going up. Piggingtons outraged by what is happening should save their powder for maybe 5 years from now, when the market is going back up again from a more attractive low point. Then buy a house every year using none of your own money, and sell the most appreciated house every year, after holding for 1-3 years. That way you have an excellent chance of keeping some good winnings, and risk nothing.
Participanttg, 10% unemployment usually means 99% of solid professionals are employed, and do not need to sell.
That may happen this time also, but this downturn may turn out to bite deeper than most we have known, and the shrinkage in some industries may be so large and so quick that even very good people have to sell.
It ain’t over yet…
Participanttg, 10% unemployment usually means 99% of solid professionals are employed, and do not need to sell.
That may happen this time also, but this downturn may turn out to bite deeper than most we have known, and the shrinkage in some industries may be so large and so quick that even very good people have to sell.
It ain’t over yet…
Participanttg, 10% unemployment usually means 99% of solid professionals are employed, and do not need to sell.
That may happen this time also, but this downturn may turn out to bite deeper than most we have known, and the shrinkage in some industries may be so large and so quick that even very good people have to sell.
It ain’t over yet…
Participanttg, 10% unemployment usually means 99% of solid professionals are employed, and do not need to sell.
That may happen this time also, but this downturn may turn out to bite deeper than most we have known, and the shrinkage in some industries may be so large and so quick that even very good people have to sell.
It ain’t over yet…
Participanttg, 10% unemployment usually means 99% of solid professionals are employed, and do not need to sell.
That may happen this time also, but this downturn may turn out to bite deeper than most we have known, and the shrinkage in some industries may be so large and so quick that even very good people have to sell.
It ain’t over yet…
ParticipantAgree with Fearful: If you have $500,000 cash and $10 million in total assets, you just buy the house you like for $1 mill – $1.5 mill. If you have $500,000 cash and your assets are now worth $4 million, you may just buy a $700K – $1 mill house.
Even the wealthy with cash are affected, and their markets will go down more.
ParticipantAgree with Fearful: If you have $500,000 cash and $10 million in total assets, you just buy the house you like for $1 mill – $1.5 mill. If you have $500,000 cash and your assets are now worth $4 million, you may just buy a $700K – $1 mill house.
Even the wealthy with cash are affected, and their markets will go down more.
ParticipantAgree with Fearful: If you have $500,000 cash and $10 million in total assets, you just buy the house you like for $1 mill – $1.5 mill. If you have $500,000 cash and your assets are now worth $4 million, you may just buy a $700K – $1 mill house.
Even the wealthy with cash are affected, and their markets will go down more.
ParticipantAgree with Fearful: If you have $500,000 cash and $10 million in total assets, you just buy the house you like for $1 mill – $1.5 mill. If you have $500,000 cash and your assets are now worth $4 million, you may just buy a $700K – $1 mill house.
Even the wealthy with cash are affected, and their markets will go down more.
ParticipantAgree with Fearful: If you have $500,000 cash and $10 million in total assets, you just buy the house you like for $1 mill – $1.5 mill. If you have $500,000 cash and your assets are now worth $4 million, you may just buy a $700K – $1 mill house.
Even the wealthy with cash are affected, and their markets will go down more.
November 15, 2008 at 4:26 PM in reply to: OT: The nail is on the coffin…UAW leader says no more concessions #305200ParticipantI don’t give a damn if the costs killing the big 3 are for past retiree costs or future retiree costs. They and the UAW negotiated all of them, and they have to live with all of the consequences.
If they don’t want to live with all the consequences, then they have to give up some of the retiree benefits. They can figure out how to do that amongst themselves. I don’t need to hear or negotiate the details. If they don’t want to clean up their own mess, then bankruptcy can do it for them. This is what should happen to any normal business.
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