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PD
ParticipantIdiot!!!!
Wow, I’m reeling. At first I thought he was probably just throwing out a spin but I think he actually believes it. The numbers he quoted in DC, where did he get them? He seems to think there are over 400,000 people wandering around dazed and confused as they look desperately for a home to buy. I think his 400,000 simply reflects people who work in DC but don’t live there. IE – commuters. I feel quite confident they tuck themselves in, nice and cozy, every night in their wildly expensive, about to be less expensive, housewithatwohourcommute.
My highlights:“Sometimes I feel like the lone voice of reason crying out in the wilderness” -as opposed to squeeling, it seems.
“Fact: There are “pockets” of over inflated real estate” – He is living in a “pocket”
“Whether renting or buying, there is an automatic necessity for the ownership of real estate — either by a homeowner or an investor” – I didn’t know that investing was a necessity
“If you’re worried about some bubble, or slow down, or something that’s evil, just put yourself in any other market,” he said” – translation, Don’t worry, be happy. If it gets too evil for you, just stick your head in the sand.
“The vocabulary being used by journalists is leftover from when the stock market inexplicably rose in value when there was no reason but hype driving the market” – He doesn’t seem to understand that descriptive vocabulary doesn’t turn stale, like old crackers.
“In hot real estate markets, there’s no hype.” -Hmmm.. TV shows like “Flip It” and your dumb neighbor who just made 30k flipping could not possibly have an influence.
“If you want to quell the fear — build more houses” I don’t even know what to say about this one. I have a headache.
ParticipantDocteur, I agree with you in many respects. However, I do think that there are random events that a person can’t control, can’t predict and which can’t be explained by a natural progression from previous behavior or choices. In my view, that qualifies as luck, either good or bad.
I am certainly not a fatalist, I don’t think things are preordained. Every person should empower themselves and take responsibility for their place in life.ParticipantMost people do not make the connection. People look at payments and see the payment is more but don’t realize that their house is actually more expensive. There is a disconnect.
I am amazed by how many people gush over how they are getting a small discount on their new house by using the approved lender. What they don’t realize or don’t take the time to figure out is that they could save many multiples by shopping for the best mortgage deal.
My friend just traded in her two year old car for a brand new model. She is thrilled over the extras she “negotiated.” She said to me, “It only added two years to my payments.”
I wanted to ask her if she realized that she just flushed 20k down the toilet but knew it was useless.ParticipantBabies would have a hard time stampeding.
ParticipantLuck is a factor in everyone’s life. However, some people are very good a greating luck or seeing a lucky opportunity that others miss. Some people see the lucky opportunity but are too lazy to act on it. Others see it but can’t act on it for some reason.
Most people who have earned great wealth have done so because they were smart. But I’m sure they have had some lucky breaks. They have also been prepared in case bad luck hits them.
I’m a planner. Everytime I get on a plane, I plan my exit in an emergency. I count the rows and locate all the exits, etc.
My husband once asked me what I would do if he died. I launched into my detailed plan. When I was done, he had a stunned look on his face and even seemed a little upset that I had thought it out. He has a very dangerous job, I’d be stupid not to have figured out what do if the worst happened.
I’m trying to be patient for the right opportunity. I hope I can recognize it when it comes along!ParticipantThe Cedar fire may have had an impact, too. Something like 3,000 houses burned and all of those people had to find a place to live and/or rebuild their destroyed home.
ParticipantLoved your reply, it was right on.
ParticipantI would rather worry about keeping my money than worry about where I’m going find the cash to pay my mortgage or feed my children.
My parents “live for today” and always have. Nothing like a bankruptcy when you are in your late 40s…
I do think that some people are better able to aquire wealth than others, just by keeping your lifestyle within certain boundries. I don’t like going to expensive restaurants, I never buy a new car and I almost always buy used high tickets items.
Out of our close circle of friends, two of them are quite rich and made it on their own. One of them is smart and managed to get into the right industry at the right time but I am not convinced he would have done so well in another job. The other is the shrewdest person I have ever met. He was going to be rich, regardless. It won’t be long before his net worth is over 100 million.
Another friend’s husband has tried at least 5 businesses. He has failed miserably at them all. If he succeeds, it will be from luck and nothing else because he is one of the most incompetent people I have ever met.
There are two kinds of luck – blind luck and luck you make for yourself. There are actually studies that show that very lucky people make their own luck.
Napoleon listened while another recommended a third person. He finally said, “Fine he is brilliant, but is he lucky?”ParticipantI noticed that the original post was last fall. I wonder what has happened to his inventory since then? I bet there have been some “great deals.”
Perhaps we might finally have some significant interest in alternate energy and fuel. Industry has not fully committed because they are only interested in what sells. I have thought for a long time that we should be taxing gas at a higher rate to discourage over consumption, pay for R&D and create demand for cars with much better gas mileage. Gas is considerably more expensive in Europe because they tax it at a very high rate.
I consider reducing our reliance on fossil fuels very important. It is a shame that we have not done more to this end during the last 30 years.Participant4plexowner, I don’t have time to respond to everything right now. With respect to Abu Ghraib and other instances of misconduct, it is inevitable that things like that are going to happen (not that it should be tolerated). If you look at the big picture and compare the overall conduct of our troops against that of ANY OTHER OCCUPYING force in the history of the world, I defy you to find an armed force that has behaved better or with more compassion. We are building schools and supplying hospitals and doing untold other good works that aren’t reported because the media would rather vilify our troops.
War is as ugly as it is inevitable but we have gone to great lengths to try to reduce the ugliness among civilians. It is NOT possible to shield all innocents, however.
I would be outraged if I found out that we were routinely cutting off people’s limbs just for the enjoyment of it, organizing camps of women who are used as prostitutes and raped repeatedly, keeping people in horrible camps where they are starved, beaten and used for horrific medical experiments (don’t go off on Gitmo, there is no comparison), packing people on railroad cars like animals and transporting them for days without food or water, gassing thousands or lining them up over ditches so their bodies could be easily disposed after being shot. All of these things have happened repeatedly in the recent past by other groups, including the Iraq.
I am quite certain that there are going to be isolated problems but they are not epidemic.
Abu Ghraib was bad but compare what happened there to true atrocities. There is no comparison.
Do you believe that Iraq was better off with Saddam Hussien’s vicious government?
ParticipantI thought that you made excellent points. Historical data is very important when trying to predict the future. However, ignoring new trends (IO financing, etc) that could have a significant impact on future events does not make sense. It does seem very possible that the rash of irresponsible lending is going to have the same effect on many homeowners as losing their job. It all comes down to whether people have enough money to cover their mortgage. It isn’t the cause that important, it the effect that is key.
Participant4plexowner, I agree that there is corruption and fraud in our government. Corruption can probably be found in equal numbers in both the Republican and Democratic parties (and any other party). I doubt there has ever been a time when this was not the case. I also doubt you could find any government in the world without these evils. Further, most governments have more corruption than our own.
As for “wars are created by the banking cartel because it is good for their business,” I’m not buying it. If this is the case, how do you explain the thousands of years of warfare documented in our written history? Certainly, there are and have always been people who profit from war. Did the gun makers or a banking cartel start the civil war? Weapons manufacturers always make a ton in war but I doubt they start it.
There are also a lot of people with an agenda who are very good at massaging the facts to make it appear that something other than the truth has happened. Politicians are very good at that (all sides). Napoleon was horribly defeated in Egypt yet he returned a hero because he was good with propaganda. Anyone who has a seemingly a credible argument that we wanted or encouraged 9/11 is a master propagandist. Just because the equity markets were in a downtrend before 9/11 is not proof that the US or US interests wanted to kill thousands of people on our own soil and bring down the World Trade Center. It is coincidental.
Propaganda aside, we do have a significant problem with a group of religious fanatics who want to do us ill. I feel certain that they would use a nuclear or biological weapon against us if they had it. We need to stop them. They have not been created out of whole cloth by a banking cartel dabbling in directing world events. This problem has been festering for a long time. Clinton had a chance to do something but he turned a blind eye. Nuclear weapons in the hands of fanatics is a very real possibility and must be prevented.
ParticipantPowayseller, I can’t believe you said, “Ever wonder why college is free in Germany? It’s the 40% part – they don’t need to kill people all over the world.”
Since Germany tried to take over Europe twice in the last century (while killing millions), other powers haven’t looked kindly on a strong German army.Participant4plexowner, you seem to have a lot of anti-American sentiment. Yet you clearly have prospered living in the midst of so called US “imperialism.”
The United States is the most benevolent superpower in the history of the world. Every other country or Empire with similar resources for their time invaded, raped, slaughtered and subjugated whomever they could reach. They certainly did not help a defeated country set up self-governance and encourage future autonomy. The US could easily have claimed half of Europe after WWII, the Russians certainly did. We also could have pillaged Japan, yet we walked away after a short occupation. We could easily have claimed Afghanistan as a territory and could even now be requiring English in the schools. The same goes for Iraq. What would Alexander the Great have done? Or Napoleon, Darius, Ghengis Khan, Hitler, Pol Pot, Cesar, Frederick the Great, William the Conquerer, Richard the Lionhearted, etc.
Who does the world turn to in times of a crisis like famine or a Tsunami? They turn the United States because we help people. Thousands of Americans spend months away from their families assisting people in other countries. Huge streams of American money flow daily out our country to assist people in need, people who aren’t American and never will be.
Powayseller, while you clearly are a smart person, I’m not sure that you have taken a look at history. Countries without strong might behind them end up with someone else’s boot at their throat. Our strong military preserves our way of life, it does not detract from it. People want what we have and will take it if they can.
To quote the foreword of The Timechart History of War, in the history of the world “there have been only 290 years free of the horrors of organised armed strife (not including internal guerrilla activities.”
Personally, I don’t want to be forced to speak Chinese. -
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