[peterb]

Fletch, Yes, I remember you now. Smart move you made!
My reasoning is based mostly on historical evidence. Market forces are almost impossible to deny. Delay, yes, but not deny. But all this aside, unemployment is really gaining momentum at this point. And unemployment is a killer for RE. How will the govt save people that have no income? I am sketical, to say the least.
Are you in a hurry to buy? Sounds like it’s a little better than renting for you. Financially speaking. Are you concernced about missing the “bottom”?
Think about what the world is going through right now. We’ve just seen a world coordinated interest rate cut. When’s the last time that happened? The last 6 years saw every asset class rise to incredible levels. When was the last time that happened? These are historical events that are exremely rare. The down-side for this is really bad.
Massive bank failures and zombifications. State and local govt starting to go BK. Now GM,Ford and all auto makers are in serious do-do.

My advice to anyone in this evironment is to stay liquid and reduce all costs. Eliminate debt. Have cash ready for the future.The more, the better. This is a major contraction in the works. I dont even think that govt jobs may be safe.

[peterb]

Fletch, Yes, I remember you now. Smart move you made!
My reasoning is based mostly on historical evidence. Market forces are almost impossible to deny. Delay, yes, but not deny. But all this aside, unemployment is really gaining momentum at this point. And unemployment is a killer for RE. How will the govt save people that have no income? I am sketical, to say the least.
Are you in a hurry to buy? Sounds like it’s a little better than renting for you. Financially speaking. Are you concernced about missing the “bottom”?
Think about what the world is going through right now. We’ve just seen a world coordinated interest rate cut. When’s the last time that happened? The last 6 years saw every asset class rise to incredible levels. When was the last time that happened? These are historical events that are exremely rare. The down-side for this is really bad.
Massive bank failures and zombifications. State and local govt starting to go BK. Now GM,Ford and all auto makers are in serious do-do.

My advice to anyone in this evironment is to stay liquid and reduce all costs. Eliminate debt. Have cash ready for the future.The more, the better. This is a major contraction in the works. I dont even think that govt jobs may be safe.

[peterb]

Fletch, Yes, I remember you now. Smart move you made!
My reasoning is based mostly on historical evidence. Market forces are almost impossible to deny. Delay, yes, but not deny. But all this aside, unemployment is really gaining momentum at this point. And unemployment is a killer for RE. How will the govt save people that have no income? I am sketical, to say the least.
Are you in a hurry to buy? Sounds like it’s a little better than renting for you. Financially speaking. Are you concernced about missing the “bottom”?
Think about what the world is going through right now. We’ve just seen a world coordinated interest rate cut. When’s the last time that happened? The last 6 years saw every asset class rise to incredible levels. When was the last time that happened? These are historical events that are exremely rare. The down-side for this is really bad.
Massive bank failures and zombifications. State and local govt starting to go BK. Now GM,Ford and all auto makers are in serious do-do.

My advice to anyone in this evironment is to stay liquid and reduce all costs. Eliminate debt. Have cash ready for the future.The more, the better. This is a major contraction in the works. I dont even think that govt jobs may be safe.

[peterb]

Fletch, Yes, I remember you now. Smart move you made!
My reasoning is based mostly on historical evidence. Market forces are almost impossible to deny. Delay, yes, but not deny. But all this aside, unemployment is really gaining momentum at this point. And unemployment is a killer for RE. How will the govt save people that have no income? I am sketical, to say the least.
Are you in a hurry to buy? Sounds like it’s a little better than renting for you. Financially speaking. Are you concernced about missing the “bottom”?
Think about what the world is going through right now. We’ve just seen a world coordinated interest rate cut. When’s the last time that happened? The last 6 years saw every asset class rise to incredible levels. When was the last time that happened? These are historical events that are exremely rare. The down-side for this is really bad.
Massive bank failures and zombifications. State and local govt starting to go BK. Now GM,Ford and all auto makers are in serious do-do.

My advice to anyone in this evironment is to stay liquid and reduce all costs. Eliminate debt. Have cash ready for the future.The more, the better. This is a major contraction in the works. I dont even think that govt jobs may be safe.

[peterb]

If I was a betting man, I’d say this tactic is more about the banks not wanting to acknowledge the loss before they absolutely have no other choice. Good luck with that. The market knows they’re screwed. And has been pricing them accordingly. It’s like putting off major surgery. No one want to go, but waiting probably wont make it better. But most people wait because it easier.

[peterb]

If I was a betting man, I’d say this tactic is more about the banks not wanting to acknowledge the loss before they absolutely have no other choice. Good luck with that. The market knows they’re screwed. And has been pricing them accordingly. It’s like putting off major surgery. No one want to go, but waiting probably wont make it better. But most people wait because it easier.

[peterb]

If I was a betting man, I’d say this tactic is more about the banks not wanting to acknowledge the loss before they absolutely have no other choice. Good luck with that. The market knows they’re screwed. And has been pricing them accordingly. It’s like putting off major surgery. No one want to go, but waiting probably wont make it better. But most people wait because it easier.

[peterb]

If I was a betting man, I’d say this tactic is more about the banks not wanting to acknowledge the loss before they absolutely have no other choice. Good luck with that. The market knows they’re screwed. And has been pricing them accordingly. It’s like putting off major surgery. No one want to go, but waiting probably wont make it better. But most people wait because it easier.

[peterb]

If I was a betting man, I’d say this tactic is more about the banks not wanting to acknowledge the loss before they absolutely have no other choice. Good luck with that. The market knows they’re screwed. And has been pricing them accordingly. It’s like putting off major surgery. No one want to go, but waiting probably wont make it better. But most people wait because it easier.

[peterb]

Wait until June 2009 and see how you feel. RE prices are going down and unemployment is rising.Time is on your side, if you dont own right now. 2009 is looking to be way worse than 2008. Despite Uncle Sams efforts.

[peterb]

Wait until June 2009 and see how you feel. RE prices are going down and unemployment is rising.Time is on your side, if you dont own right now. 2009 is looking to be way worse than 2008. Despite Uncle Sams efforts.

[peterb]

Wait until June 2009 and see how you feel. RE prices are going down and unemployment is rising.Time is on your side, if you dont own right now. 2009 is looking to be way worse than 2008. Despite Uncle Sams efforts.

[peterb]

Wait until June 2009 and see how you feel. RE prices are going down and unemployment is rising.Time is on your side, if you dont own right now. 2009 is looking to be way worse than 2008. Despite Uncle Sams efforts.

[peterb]

Wait until June 2009 and see how you feel. RE prices are going down and unemployment is rising.Time is on your side, if you dont own right now. 2009 is looking to be way worse than 2008. Despite Uncle Sams efforts.

[peterb]

Employment is not a birth right. This will become more painfully obvious in 2009. For the people that stayed careful and did not over extend themselves, this is your time. I still remember that the last RE dump started in 1990 and by 1995 you could get great deals. This contraction is looking way worse. So I’d say if this started around 2006, then by 2011, there will be very good deals to be had. Buy all cash and be done with it. Of course, there’s always the state of CA to screw you with taxes. That’s the big unknown going forward. IMO

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