[stpiermj]

Thank you gzz.

[stpiermj]

Thanks for the links. Very useful.

[stpiermj]

Putting cash in someone elses hands is probably the real issue. Gold and Real Estate are the only few commodities that will be useful and can wither the potential hyper-inflation and mass bankrupties that potentially awaits hard working Americans. Worse case, you lose all your cash in someone elses bankruptcy. Second worse, your quality new home loses 20% over next 5 years, while inflation increases at 8-15% per year. I think a quality new home is the best investment one can make right now. JMO. I say buy a great new home in the 500-650k area that of course is in a good location (cooler climate, fewer foreclosures, good job stability, fairly close to mass transit).

[stpiermj]

Putting cash in someone elses hands is probably the real issue. Gold and Real Estate are the only few commodities that will be useful and can wither the potential hyper-inflation and mass bankrupties that potentially awaits hard working Americans. Worse case, you lose all your cash in someone elses bankruptcy. Second worse, your quality new home loses 20% over next 5 years, while inflation increases at 8-15% per year. I think a quality new home is the best investment one can make right now. JMO. I say buy a great new home in the 500-650k area that of course is in a good location (cooler climate, fewer foreclosures, good job stability, fairly close to mass transit).

[stpiermj]

Putting cash in someone elses hands is probably the real issue. Gold and Real Estate are the only few commodities that will be useful and can wither the potential hyper-inflation and mass bankrupties that potentially awaits hard working Americans. Worse case, you lose all your cash in someone elses bankruptcy. Second worse, your quality new home loses 20% over next 5 years, while inflation increases at 8-15% per year. I think a quality new home is the best investment one can make right now. JMO. I say buy a great new home in the 500-650k area that of course is in a good location (cooler climate, fewer foreclosures, good job stability, fairly close to mass transit).

[stpiermj]

Putting cash in someone elses hands is probably the real issue. Gold and Real Estate are the only few commodities that will be useful and can wither the potential hyper-inflation and mass bankrupties that potentially awaits hard working Americans. Worse case, you lose all your cash in someone elses bankruptcy. Second worse, your quality new home loses 20% over next 5 years, while inflation increases at 8-15% per year. I think a quality new home is the best investment one can make right now. JMO. I say buy a great new home in the 500-650k area that of course is in a good location (cooler climate, fewer foreclosures, good job stability, fairly close to mass transit).

[stpiermj]

Putting cash in someone elses hands is probably the real issue. Gold and Real Estate are the only few commodities that will be useful and can wither the potential hyper-inflation and mass bankrupties that potentially awaits hard working Americans. Worse case, you lose all your cash in someone elses bankruptcy. Second worse, your quality new home loses 20% over next 5 years, while inflation increases at 8-15% per year. I think a quality new home is the best investment one can make right now. JMO. I say buy a great new home in the 500-650k area that of course is in a good location (cooler climate, fewer foreclosures, good job stability, fairly close to mass transit).

[stpiermj]

Oil Speculation and Mortgage backed assets. I wonder sometimes if this Fed swap of mortgage backed assets (which are worthless), is contributing to the “speculation” by investment firms in the oil market. Scary thought what would happen if that was occuring and the oil bubble pops and all those portfolios go to crap (Depressing,oop, I mean DEPRESSION). We would be really broke in less than 2 months if the Fed were to continue it’s free lunch program.

My guess is that moving to the “foreclosure” step reduces what the speculators can speculate with… (if of course this is what is happening). I’m pretty much clueless on this, but the way things are going on WallStreet and the lack of ethics and high values (which we desparetly need to reverse), I would believe just about anything is possible (even a crash of the US Dollar).

[stpiermj]

Oil Speculation and Mortgage backed assets. I wonder sometimes if this Fed swap of mortgage backed assets (which are worthless), is contributing to the “speculation” by investment firms in the oil market. Scary thought what would happen if that was occuring and the oil bubble pops and all those portfolios go to crap (Depressing,oop, I mean DEPRESSION). We would be really broke in less than 2 months if the Fed were to continue it’s free lunch program.

My guess is that moving to the “foreclosure” step reduces what the speculators can speculate with… (if of course this is what is happening). I’m pretty much clueless on this, but the way things are going on WallStreet and the lack of ethics and high values (which we desparetly need to reverse), I would believe just about anything is possible (even a crash of the US Dollar).

[stpiermj]

Oil Speculation and Mortgage backed assets. I wonder sometimes if this Fed swap of mortgage backed assets (which are worthless), is contributing to the “speculation” by investment firms in the oil market. Scary thought what would happen if that was occuring and the oil bubble pops and all those portfolios go to crap (Depressing,oop, I mean DEPRESSION). We would be really broke in less than 2 months if the Fed were to continue it’s free lunch program.

My guess is that moving to the “foreclosure” step reduces what the speculators can speculate with… (if of course this is what is happening). I’m pretty much clueless on this, but the way things are going on WallStreet and the lack of ethics and high values (which we desparetly need to reverse), I would believe just about anything is possible (even a crash of the US Dollar).

[stpiermj]

Oil Speculation and Mortgage backed assets. I wonder sometimes if this Fed swap of mortgage backed assets (which are worthless), is contributing to the “speculation” by investment firms in the oil market. Scary thought what would happen if that was occuring and the oil bubble pops and all those portfolios go to crap (Depressing,oop, I mean DEPRESSION). We would be really broke in less than 2 months if the Fed were to continue it’s free lunch program.

My guess is that moving to the “foreclosure” step reduces what the speculators can speculate with… (if of course this is what is happening). I’m pretty much clueless on this, but the way things are going on WallStreet and the lack of ethics and high values (which we desparetly need to reverse), I would believe just about anything is possible (even a crash of the US Dollar).

[stpiermj]

Oil Speculation and Mortgage backed assets. I wonder sometimes if this Fed swap of mortgage backed assets (which are worthless), is contributing to the “speculation” by investment firms in the oil market. Scary thought what would happen if that was occuring and the oil bubble pops and all those portfolios go to crap (Depressing,oop, I mean DEPRESSION). We would be really broke in less than 2 months if the Fed were to continue it’s free lunch program.

My guess is that moving to the “foreclosure” step reduces what the speculators can speculate with… (if of course this is what is happening). I’m pretty much clueless on this, but the way things are going on WallStreet and the lack of ethics and high values (which we desparetly need to reverse), I would believe just about anything is possible (even a crash of the US Dollar).

[stpiermj]

LV, I think you missed the part about the particular type of property I was buying and the level of luxury that will come with the purchase relative to the rest of the market. I clearly believe the market will see more foreclosures and I expect my home to lower in value before the bottom is reached. I just don’t expect to be able to buy this type of property at this price for many years to come. I would like think the market will continue to crash, but I just don’t believe it is going down a lot more. My monthly will be $3828.02. This includes P&I, Taxes, and Insurance. Add another 125 for HOA. After Tax price per month will be very close to a comparable homes rental price (this is what tells me we are close to bottom). When I look at what I’m renting now, and then how much more I must pay to live in the home I really really love, I don’t see the issues you mention as being an issue. There clearly is a high likelihood of severe thunder storms ahead for the economy and the housing market. I figure I am going to get the best darn house I can find for shelter. Good luck renting. I think if you feel you should wait, then do that. You know your needs and I know mine. I don’t mean to sound like everyone should buy now. If anything, I would recommend waiting for confirmation of a bottom. Just realize that you may not find the perfect home at the perfect price.

[stpiermj]

LV, I think you missed the part about the particular type of property I was buying and the level of luxury that will come with the purchase relative to the rest of the market. I clearly believe the market will see more foreclosures and I expect my home to lower in value before the bottom is reached. I just don’t expect to be able to buy this type of property at this price for many years to come. I would like think the market will continue to crash, but I just don’t believe it is going down a lot more. My monthly will be $3828.02. This includes P&I, Taxes, and Insurance. Add another 125 for HOA. After Tax price per month will be very close to a comparable homes rental price (this is what tells me we are close to bottom). When I look at what I’m renting now, and then how much more I must pay to live in the home I really really love, I don’t see the issues you mention as being an issue. There clearly is a high likelihood of severe thunder storms ahead for the economy and the housing market. I figure I am going to get the best darn house I can find for shelter. Good luck renting. I think if you feel you should wait, then do that. You know your needs and I know mine. I don’t mean to sound like everyone should buy now. If anything, I would recommend waiting for confirmation of a bottom. Just realize that you may not find the perfect home at the perfect price.

[stpiermj]

LV, I think you missed the part about the particular type of property I was buying and the level of luxury that will come with the purchase relative to the rest of the market. I clearly believe the market will see more foreclosures and I expect my home to lower in value before the bottom is reached. I just don’t expect to be able to buy this type of property at this price for many years to come. I would like think the market will continue to crash, but I just don’t believe it is going down a lot more. My monthly will be $3828.02. This includes P&I, Taxes, and Insurance. Add another 125 for HOA. After Tax price per month will be very close to a comparable homes rental price (this is what tells me we are close to bottom). When I look at what I’m renting now, and then how much more I must pay to live in the home I really really love, I don’t see the issues you mention as being an issue. There clearly is a high likelihood of severe thunder storms ahead for the economy and the housing market. I figure I am going to get the best darn house I can find for shelter. Good luck renting. I think if you feel you should wait, then do that. You know your needs and I know mine. I don’t mean to sound like everyone should buy now. If anything, I would recommend waiting for confirmation of a bottom. Just realize that you may not find the perfect home at the perfect price.

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