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PerryChase
Participanthttp://www.washingtonpost.com/wp-dyn/content/article/2007/07/27/AR2007072700132.html?hpid=topnews
Eat too much steak and your arteries will clog up. You’ll die before you get to enjoy all your money.
Personally, I’m not predicting gloom and doom. But then again, Dow 11,000 will not surprise me. It’s always possible. Your wealth is only relative to others. If I loose 20% and other loose 50%, then I’m still relatively better off.
We should not fixate on a certain percent. We just need to maintain and improve our purchasing power relative to others.
That’s especially true when it comes to Real Estate. If you can move up when others are moving down, then you did something right.
ParticipantNever say never.
Let’s see how the credit bubble deflates. Keep your money ready at hand and you might find yourself a great deal.
ParticipantNever say never.
Let’s see how the credit bubble deflates. Keep your money ready at hand and you might find yourself a great deal.
ParticipantHLS, don’t think so much as an American. Think as a citizen of the world. You’ll feel much better.
You can only do what’s right for you and your family. Stick to that and you’ll be fine.
I drink room temperature water, no ice. People think I’m weird. It’s better for your digestion and better for your teeth (no dilatation and contraction that make your teeth more porous over time).
ParticipantHLS, don’t think so much as an American. Think as a citizen of the world. You’ll feel much better.
You can only do what’s right for you and your family. Stick to that and you’ll be fine.
I drink room temperature water, no ice. People think I’m weird. It’s better for your digestion and better for your teeth (no dilatation and contraction that make your teeth more porous over time).
July 27, 2007 at 9:39 AM in reply to: While not a perfect solution, the best way to avoid foreclosure . . . #68052Participant“1. Honor your commitments. It’s a contract and your word.”
That’s exactly it. Walking is honoring your commitment. By giving the lender your house you’re doing just that — honor your commitment. Foreclosure is written into the contract so you’re simply activating a provision of the contract.
Business is business. Why throw good money after bad? Businesses make that practical decision all the time? Why can’t individuals do the same?
It sucks more to be a slave to your house than it sucks to move. I’ve seen on Craigslist that some people sell all of their appliances and fixture before leaving. Nothing illegal or immoral about that — it’s their house until they have to give it up.
Lenders were stupid for not leaving themselves a cushion. Now they just need to pay the price for their bad decisions. It’s the cost of doing business. Anything else is simply a transfer of wealth from workers to the financial institutions.
July 27, 2007 at 9:39 AM in reply to: While not a perfect solution, the best way to avoid foreclosure . . . #68119Participant“1. Honor your commitments. It’s a contract and your word.”
That’s exactly it. Walking is honoring your commitment. By giving the lender your house you’re doing just that — honor your commitment. Foreclosure is written into the contract so you’re simply activating a provision of the contract.
Business is business. Why throw good money after bad? Businesses make that practical decision all the time? Why can’t individuals do the same?
It sucks more to be a slave to your house than it sucks to move. I’ve seen on Craigslist that some people sell all of their appliances and fixture before leaving. Nothing illegal or immoral about that — it’s their house until they have to give it up.
Lenders were stupid for not leaving themselves a cushion. Now they just need to pay the price for their bad decisions. It’s the cost of doing business. Anything else is simply a transfer of wealth from workers to the financial institutions.
Participanti agree with betting.
In all seriousness, a mortgage is a private transaction. Lenders will automatically develop the proper business models to be profitable — that is if the government stays out of it. Any bailout (taxpayer subsidy) will be incorporated into the future business model.
Participanti agree with betting.
In all seriousness, a mortgage is a private transaction. Lenders will automatically develop the proper business models to be profitable — that is if the government stays out of it. Any bailout (taxpayer subsidy) will be incorporated into the future business model.
ParticipantBravo! I’m all for that. And a license to get married also please! And a license to have children while we’re at it.
But the problem is you’ll all the diploma mills popping up. They’ll certify anyone who’s breathing. And who do you think will get the permits to run those private schools? Friend of politicians, of course. Are we going to have financial aid that will be funneled into private for profit companies as well?
Maybe a state board exam would be enough. If you can’t do NPV or IRR, can’t calculate property taxes, or cannot figure out the impound amount, then you can’t get a mortgage.
ParticipantBravo! I’m all for that. And a license to get married also please! And a license to have children while we’re at it.
But the problem is you’ll all the diploma mills popping up. They’ll certify anyone who’s breathing. And who do you think will get the permits to run those private schools? Friend of politicians, of course. Are we going to have financial aid that will be funneled into private for profit companies as well?
Maybe a state board exam would be enough. If you can’t do NPV or IRR, can’t calculate property taxes, or cannot figure out the impound amount, then you can’t get a mortgage.
Participantyeah, i don’t think they lured enough suckers yet. They need more suckers for the previous owners to cash out at the high.
To put it in perspective, today’s S&P loss is equivalent to $300 billion loss of value.
Participantyeah, i don’t think they lured enough suckers yet. They need more suckers for the previous owners to cash out at the high.
To put it in perspective, today’s S&P loss is equivalent to $300 billion loss of value.
ParticipantGreat charts, Gary. And thanks for sharing your work.
With this kind of analysis, I’m sure that you’ll eventually find a good home at the right price.
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