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patientrenter
ParticipantPB, I don’t have much sympathy for buyers who lost their gamble to reap huge price gains. But neither do I, or some others here, support the closed-minded personalized attacks you’ve been subject to.
I hope that in the future you will be able to add your knowledge and experience to the blog without the abuse. And remember, the people who try hardest to shout you down, instead of objectively discussing your points, are the least likely to have cogent objective arguments, so why pay any attention to them anyway?
Patient renter in OC
Participantncc, I don’t know about 1929, but I am using the yen to hedge my stock portfolio. In other words, I am assuming that the stock market going down and the yen going up are likely to occur roughly together.
Patient renter in OC
Participantncc, I don’t know about 1929, but I am using the yen to hedge my stock portfolio. In other words, I am assuming that the stock market going down and the yen going up are likely to occur roughly together.
Patient renter in OC
Participantncc, I don’t know about 1929, but I am using the yen to hedge my stock portfolio. In other words, I am assuming that the stock market going down and the yen going up are likely to occur roughly together.
Patient renter in OC
ParticipantReading that felt good, contraman. Your lifestyle and mine sound very similar. I spend about 10% of my income, and plan to buy a home for cash that’s less than 10% of my assets.
I am amused by all the people who agree with you, but want just a little more accommodation for the poor victims of ignorance and stupidity. Your point is that there’s already been way too much accommodation.
We have one drop of genuine victimhood in a giant vat of greed, and the leveraged average Joe and Jane buyers of appreciating assets and consumer goods are just as guilty as everyone else. It doesn’t take a genius to see that being given a house and keeping the upside if it appreciates and walking away if it depreciates is an unsupportable freebie. Taking it was legal, but I consider it an abdication of one’s social responsibilities. If you just wanted a home for yourself and your family, renting was always an option, so everyone who bought instead made a conscious choice, and weren’t forced into it at all.
Patient renter in OC
ParticipantReading that felt good, contraman. Your lifestyle and mine sound very similar. I spend about 10% of my income, and plan to buy a home for cash that’s less than 10% of my assets.
I am amused by all the people who agree with you, but want just a little more accommodation for the poor victims of ignorance and stupidity. Your point is that there’s already been way too much accommodation.
We have one drop of genuine victimhood in a giant vat of greed, and the leveraged average Joe and Jane buyers of appreciating assets and consumer goods are just as guilty as everyone else. It doesn’t take a genius to see that being given a house and keeping the upside if it appreciates and walking away if it depreciates is an unsupportable freebie. Taking it was legal, but I consider it an abdication of one’s social responsibilities. If you just wanted a home for yourself and your family, renting was always an option, so everyone who bought instead made a conscious choice, and weren’t forced into it at all.
Patient renter in OC
ParticipantReading that felt good, contraman. Your lifestyle and mine sound very similar. I spend about 10% of my income, and plan to buy a home for cash that’s less than 10% of my assets.
I am amused by all the people who agree with you, but want just a little more accommodation for the poor victims of ignorance and stupidity. Your point is that there’s already been way too much accommodation.
We have one drop of genuine victimhood in a giant vat of greed, and the leveraged average Joe and Jane buyers of appreciating assets and consumer goods are just as guilty as everyone else. It doesn’t take a genius to see that being given a house and keeping the upside if it appreciates and walking away if it depreciates is an unsupportable freebie. Taking it was legal, but I consider it an abdication of one’s social responsibilities. If you just wanted a home for yourself and your family, renting was always an option, so everyone who bought instead made a conscious choice, and weren’t forced into it at all.
Patient renter in OC
ParticipantHWG, I am long stocks, but I don’t think the Fed’s job is to reflate the stock market or housing market.
Maybe that wasn’t your suggestion. Anyway, as long as 80% of the banks and the ‘system’ are still standing at the end, then we don’t need any bailout or excessive air added. I think it would be healthy to have one or two banks get taken over and the top management fired. Nothing personal, just healthy excision of excess moral hazard. I do not subscribe to the theory that almost all financial institutions must survive in order for the system to thrive. And dozens and dozens of hedge funds can become worthless with no long term harm to our society.
Patient renter in OC
ParticipantHWG, I am long stocks, but I don’t think the Fed’s job is to reflate the stock market or housing market.
Maybe that wasn’t your suggestion. Anyway, as long as 80% of the banks and the ‘system’ are still standing at the end, then we don’t need any bailout or excessive air added. I think it would be healthy to have one or two banks get taken over and the top management fired. Nothing personal, just healthy excision of excess moral hazard. I do not subscribe to the theory that almost all financial institutions must survive in order for the system to thrive. And dozens and dozens of hedge funds can become worthless with no long term harm to our society.
Patient renter in OC
ParticipantHWG, I am long stocks, but I don’t think the Fed’s job is to reflate the stock market or housing market.
Maybe that wasn’t your suggestion. Anyway, as long as 80% of the banks and the ‘system’ are still standing at the end, then we don’t need any bailout or excessive air added. I think it would be healthy to have one or two banks get taken over and the top management fired. Nothing personal, just healthy excision of excess moral hazard. I do not subscribe to the theory that almost all financial institutions must survive in order for the system to thrive. And dozens and dozens of hedge funds can become worthless with no long term harm to our society.
Patient renter in OC
Participantcashflow,
I started to use Everbank about 2 years ago when I inherited some money in Euros that I didn’t want to convert into a declining dollar. Starting about a year ago, I use the checking account to pay my bills.
It’s been pretty trouble-free for me. They’ve handled international wires, automatic debits and all, with no problems I can recall.
Their rates on foreign currency are low. I like the ability to send wires easily to my relatives in Europe, but if I had a larger amount at stake I’d hunt for another alternative. There are (Rydex, Barclays IPath?) funds that pay better yields on larger amounts. I think the Barclays is an exchange-traded note that they claim pays capital gains instead of interest, so you pay less in taxes.
I am considering getting some Yen exposure by buying Yen/USD futures from the CME. Seems pretty efficient, but I’ve been too lazy to research the details and execute, so I don’t know all the pitfalls.
Patient renter in OC
Participantcashflow,
I started to use Everbank about 2 years ago when I inherited some money in Euros that I didn’t want to convert into a declining dollar. Starting about a year ago, I use the checking account to pay my bills.
It’s been pretty trouble-free for me. They’ve handled international wires, automatic debits and all, with no problems I can recall.
Their rates on foreign currency are low. I like the ability to send wires easily to my relatives in Europe, but if I had a larger amount at stake I’d hunt for another alternative. There are (Rydex, Barclays IPath?) funds that pay better yields on larger amounts. I think the Barclays is an exchange-traded note that they claim pays capital gains instead of interest, so you pay less in taxes.
I am considering getting some Yen exposure by buying Yen/USD futures from the CME. Seems pretty efficient, but I’ve been too lazy to research the details and execute, so I don’t know all the pitfalls.
Patient renter in OC
Participantcashflow,
I started to use Everbank about 2 years ago when I inherited some money in Euros that I didn’t want to convert into a declining dollar. Starting about a year ago, I use the checking account to pay my bills.
It’s been pretty trouble-free for me. They’ve handled international wires, automatic debits and all, with no problems I can recall.
Their rates on foreign currency are low. I like the ability to send wires easily to my relatives in Europe, but if I had a larger amount at stake I’d hunt for another alternative. There are (Rydex, Barclays IPath?) funds that pay better yields on larger amounts. I think the Barclays is an exchange-traded note that they claim pays capital gains instead of interest, so you pay less in taxes.
I am considering getting some Yen exposure by buying Yen/USD futures from the CME. Seems pretty efficient, but I’ve been too lazy to research the details and execute, so I don’t know all the pitfalls.
Patient renter in OC
ParticipantRustico, that’s the right stuff (in your paragraph).
But the point I was really making is that investors supplying money for new home loans may demand a higher return over the next 10-20 years, in comparison to the rate of HPA, than they got over the last 10-20 years. This debacle will show them that they’re the ones providing most of the money and taking most of the risk, something they haven’t really appreciated until now. The only way around that is a lot of ‘sorta dumb’ money not seeing the risk in front of their noses, or at least choosing to ignore it for bigger reasons.
Patient renter in OC
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