Forum Replies Created
-
AuthorPosts
-
PD
ParticipantAfter reading the posts by Alex-Angel and Myito, I now understand why the stock market has continued to go up despite all the negative news. It has been going up, therefore it will always go up. Jump in!
Alex thinks that huge numbers of rich 30 somethings are going to save to day. I posit that massive numbers of financially uneducated people are going to drag it into the gutter.
How can anyone think that spending $100 (prop tax) to save $50 (income tax) is a good idea? If you buy right now, you will be paying through the nose for the opportunity to lose big money.
I am sometimes amazed at the lack of understanding out there. I have a friend who recently told me that she was going to refinance out of her 5.25 fixed to pay off 6K in credit card bills. She was all excited because the TV add said that the refinance was free. I went into a long explanation as to why this was a bad idea (it isn’t free, your rate will increase, you’ve got a great loan) but I think she had already made up her mind. She doesn’t work and doesn’t have kids, she could have gotten a part time job and paid it off in six months. Instead, she wants the quick fix. My stomach hurts just thinking about it. What folly.ParticipantAfter reading the posts by Alex-Angel and Myito, I now understand why the stock market has continued to go up despite all the negative news. It has been going up, therefore it will always go up. Jump in!
Alex thinks that huge numbers of rich 30 somethings are going to save to day. I posit that massive numbers of financially uneducated people are going to drag it into the gutter.
How can anyone think that spending $100 (prop tax) to save $50 (income tax) is a good idea? If you buy right now, you will be paying through the nose for the opportunity to lose big money.
I am sometimes amazed at the lack of understanding out there. I have a friend who recently told me that she was going to refinance out of her 5.25 fixed to pay off 6K in credit card bills. She was all excited because the TV add said that the refinance was free. I went into a long explanation as to why this was a bad idea (it isn’t free, your rate will increase, you’ve got a great loan) but I think she had already made up her mind. She doesn’t work and doesn’t have kids, she could have gotten a part time job and paid it off in six months. Instead, she wants the quick fix. My stomach hurts just thinking about it. What folly.ParticipantHere is a little story:
So this guy called Alex went to Vegas every year from 2001 to 2006. Each time he put his rent money down on red at the roulette wheel. It came up black. This year he is determined to put his money on black because he was wrong five years in a row. So what is going to happen this year, do you think?ParticipantHere is a little story:
So this guy called Alex went to Vegas every year from 2001 to 2006. Each time he put his rent money down on red at the roulette wheel. It came up black. This year he is determined to put his money on black because he was wrong five years in a row. So what is going to happen this year, do you think?ParticipantRenting is a suckers deal in an appreciating market. That market is over and we are on the other side of the coin, my friend. I was an owner during the upside and reaped the rewards. Now I’m a renter and I’m reaping the rewards.
ParticipantRenting is a suckers deal in an appreciating market. That market is over and we are on the other side of the coin, my friend. I was an owner during the upside and reaped the rewards. Now I’m a renter and I’m reaping the rewards.
ParticipantAlex, Alex, Alex. No more of this “throwing away money on rent” garbage, please.
I don’t think I’ve met anyone who managed to build wealth while having their net worth grow smaller every month.
ParticipantAlex, Alex, Alex. No more of this “throwing away money on rent” garbage, please.
I don’t think I’ve met anyone who managed to build wealth while having their net worth grow smaller every month.
June 21, 2007 at 12:22 PM in reply to: Now back to our regularly scheduled programming on NOD’s #61053ParticipantThat June 19 report was startling.
June 21, 2007 at 12:22 PM in reply to: Now back to our regularly scheduled programming on NOD’s #61090ParticipantThat June 19 report was startling.
ParticipantDidn’t the downturn start later in Orange County than San Diego? Further, if you adjust for inflation, prices are down.
I think we are about to see some good discounting coming up. Orange County has lost a chunk of 100k+ wage earners with all the mortgage layoffs.ParticipantDidn’t the downturn start later in Orange County than San Diego? Further, if you adjust for inflation, prices are down.
I think we are about to see some good discounting coming up. Orange County has lost a chunk of 100k+ wage earners with all the mortgage layoffs.ParticipantPerry, I think you’re right. I hear a lot of talk about how the nice areas will hold up because the people living there have money. However, many of those people have businesses that could fall on hard times. I know of a family in Coronado who has their house (long time owner) for sale because their business is going through rough times (just one instance, I know, but could be part of a larger trend).
Further, it seems that many business owners have been using the equity in their homes to keep their businesses going. A drop in value will cut that short.
ParticipantPerry, I think you’re right. I hear a lot of talk about how the nice areas will hold up because the people living there have money. However, many of those people have businesses that could fall on hard times. I know of a family in Coronado who has their house (long time owner) for sale because their business is going through rough times (just one instance, I know, but could be part of a larger trend).
Further, it seems that many business owners have been using the equity in their homes to keep their businesses going. A drop in value will cut that short.
-
AuthorPosts
