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August 18, 2006 at 10:15 AM in reply to: Poll: Is Housing a Good Investment over the next 1/5 years #32335
PerryChase
ParticipantI talked to a friend a few days ago. He said that he’s going to fixed-up his house some more to get it ready to relist in the spring.
He’s not a very good friend, otherwise I would’ve told him about the bubble, Piggington and SD Market Monitor.
I’ll be watching the spring #s carefully.
ParticipantIt’s very worrysome when our professors and deans move overseas. That means that they (and their students) won’t be around to create the companies of the future. America used to attract talent from around the world. By pandering to the religous right, Bush is mortgaging America’s future.
Participantpowayseller, thanks for the ZC Sterling recommendation. I checked them out and they’re much lower than Farmers. I’ll go with ZC Sterling.
ParticipantThe only reason I hold on to my house is because my mortage cost is low. I cannot even rent a decent 1 bedroom apartment for what I pay now. I don’t really like the neighborhood — it’s quiet but lifeless. Plus I’ve grown to detest suburban life. But if move my dogs won’t have a yard to play in and my elderly parents who visits frequently won’t have a place to stay.
That’s the quandry now. Sure selling would’ve been a better financial decision.
August 18, 2006 at 1:05 AM in reply to: Iraq is like the housing market – but not like you think #32297ParticipantWe beleive that the Middle East is the finest city anywhere. The climate is pleasant and the sea shore is beautiful. The Holy Land is located there so everyone wants to live there also.
In 2003, we bought a house on Iraq street. The place was a dump and the price was sky-high but we knew for sure that prices will keep on going up and the neighborhood would gentrify once we moved in and started to make improvements. Everyone in the neighborhood will copy us and beautify their houses, thus creating even more appreciation. It’s a slam dunk!
People who don’t follow us and invest in the appreciating Middle East market will be forever priced out. We certainly won’t share our newfound wealth with the loosers who didn’t listen to us. However, people in the coalition of the willing investors will be amply rewarded.
It’s now 2006 and we think that the improvements that we’ve made to the Iraq house positions it well in this stable market and improving market. After we borrow some more money and make additional improvements, we think that we can sell in it to investors. They are already standing by ready to buy the house — well they still need to qualify for a loan. They are credit counseling right now trying to improve their FICO scores.
The holding cost and negative cash flows have been killing us for the last 3 years but we’re confident that we can make it all up in appreciation.
Oh, btw, it looks like the houses on Lebanon Court, Syria Circle and Iran Way are great investments also. Unfortunately, we sunk all of our money in the Iraq house already so we need to borrow some more from the Bank of the People of America. But don’t worry, once all those houses sell, we’ll be so rich that we’ll be the masters of the universe.
That investment is for real, man. Don’t miss the boat!
Participantbgates, I’m not happy that Iraq is devolving into a quagmire.
I don’t think that American policy will change until we’re confronted with what we created. I’ve learned that people will learn only when confronted with the results of their own mistakes.
There’s no point in arguing with someone who thinks that real estate is always a good investment. I would say to that person to keep on investing away, and stop trying to convince me that RE is a good investment. Go ahead and make all the money for yourself.
With Iraq, I disagreed from the beginning but my fellow citizens went for Bush. What I’m saying now is that Bush had 3 years to show results but so far it’s negative cash flow all around. How long can you keep on sinking money into that house that you thought would appreciate for sure? Eventually, it’ll bankrupt the household, cause a divorce or family discord.
The thing is that the bulls always need suckers born every minute to keep their ponzi scheme going. That’s why they’re always out and about evangelizing.
I think that, by their actions, the Europeans (and increasingly the Brits) are telling us: well if you think your so right, then keep on doing what you’re doing, but don’t ask us to fix it when it goes awry. Remember when Rumsfeld banned the French and Germans from contracts in Iraq. They have nothing to gain if things goes well and nothing to loose if things go south. So they’re just sitting by and watching the show.
I find it interesting that America co-sponsored the UN resolution on Lebanon. The French are sending 200 troops. We’re not sending any (maybe because they’re all stuck in Iraq).
The son of someone I know wanted to join the military last year but couldn’t join because he flunked out of high school. At that time the Army was desperate enough for recruits that they sponsored him to get his GED. He could then enlist after completing his GED (which he could not pass). Six months ago, the Army called him and said that the GED requirement was lifted so they sent him to boot camp. This example shows how desperate things are. A former general said that the war could break the Army. I think it already is.
Participantbgates, yes, I’ll concede to you that your argument is stronger than mine (at least to the voters) so that’s why Bush is in power. He gets to implement his policy and run amok.
If you were so sure of the Bush Doctrine, you’d be confident in success; and you wouldn’t even care to debate with us dissenters. We are insignificant in Bush’s great scheme because he knows that he’s got the final answer.
Like I said before, Bush and his supporters have the upper hand. I’m happy to let history be the judge. My feeling is that, like Real Estate, Iraq will become an intractable problem. People will be brought back down to earth but they will still walk with their heads held high (at least in public when window shopping at the mall).
ParticipantAnyone who uses the word clusterf**k is a friend of mine. 🙂
My best buddy who’s a naval officer supported beating the sh*t our of those Arabs. But now he can’t see anything but a clusterf**k — a quagmire we can’t extricate ourselves from.ParticipantBTW, most everyone, except the Brits, in the coalition of the willing pulled out. South Korea doesn’t even support us on North Korea.
I don’t think that Europeans and others want to see us weakened. They simply resent cleaning-up our mess and have us take the credit. Think about your bossy colleague at work. Would you want to help him so he can get a promotion at your expense?
Negotiating with Iran requires opening up diplomatic channels. That would be a good first step. Otherwise, we’ll continue to have fighting by proxy in Iraq, Lebanon and Palestine.
W is steadfast in his policy. We’ll see if he prevails. Those of us who disagree with the Bushies have not choice but to give them the benefit of the doubt.
bgates, Bush has the power now. So you have your way. You should be the happy one.
I’m willing to let history be the judge.
ParticipantI used to vote for Republicans because I thought that they were principled and stood for:
The constitution,
Individual rights,
State rights,
Free trade,
Small government,
Pay as you go,
Privacy,
Medical choice,
No nation building, etc…It turns out I was wrong. Republicans are just opportunists who want to push their oppressive agenda onto others. Talk about flip-flop! The Republicans made a complete 180 on everything that they stood for.
As far as foreign policy is concerned, Kissinger (under Nixon) advocated the pragmatic policy of engagement. Brzezinski (under Carter) is the one who wanted a more interventionist approach to foreign policy. Kissinger has been speaking out a lot lately on Iraq. While he won’t directly criticize the Bush Administration, he’s making oblique remarks on how misguided the current policy is. I’m no particular friend of Kissinger (he’s a mean smart weasel) but he’s a brilliant pragmatic diplomat who can solve problems.
I don’t blame the rest of the world for letting us squirm in Iraq. We didn’t ask for their input when we went in and broke all the pottery. Why would they pickup the pieces?
On Terri Shiavo, her husband was the legal guardian. The state courts, all the way to the Florida Supreme Court, ruled in the husband’s favor. Family matters belong in State Courts. The Federal government and the Congress should stay out of family matters (remember state rights? ).
Participantrooooous, keep us updated what you find. I think that you made a wise decision and that you’ll be amply rewarded. In a year, look back at that same complex you wanting to buy into now. You’ll be glad you waited.
I too am looking for a condo in central San Diego (Bankers Hills, Point Loma, Normal Heights, Mission Valley, Downtown, etc….) . I have some relatives from back East who are retiring and would love to share a condo in San Diego.
ParticipantI don’t think that the listing on Craigslist is representative of a the Real Estate market. Few if anyone would buy a house from posts on craigslist. It seems to me that those posts are just attempts by owners and agents to get more exposure for their properties. Those properties are probably all overpriced.
ParticipantI have replacement cost. Everyone I know has had large increase in homeowners insurance in the last few years. That’s prompting me to look around rather than just paying the renewal policy.
ParticipantIt’s funny that Real Estate is like Iraq. The bulls are hoping for a soft landing but we all know that the crash won’t be pleasant. The confluence of misguided decisions has made the situation beyond repair.
I’m just sitting back and watching the events unfold.
The world is sitting back letting America fail just like us Piggingtons are watching greedy buyers loose their shirts in the coming RE debacle.
Bush did nothing for Terri Shiavo? The Republicans did everything their could to interfere in a family matter. So much for little government intrusion.
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