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| Time to sell your house. | |
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| Tweet Topic Started: Nov 26 2006, 09:34 PM (1,711 Views) | |
| mireland | Mar 22 2007, 10:46 AM Post #26 |
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Ultimate Advanced Member
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shufty |
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| werz | Apr 6 2007, 10:22 PM Post #27 |
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werz
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http://www.informationclearinghouse.info/article17338.htm By Mike Whitney 03/17/07 "ICH" -- -- The stock market is about to crash. The only question is whether it will quickly drop down the elevator shaft or follow the jerky flight-path of a man pushed down a stairwell. Either way, the outcome will be the same; stocks will nose-dive, the dollar will plummet, and the bruised US economy will be splattered on the canvas like George Foreman in Rumble in the Jungle. Troubles in the sub-prime market have just begun to materialize and already 38 main sub prime lenders have gone kaput. Foreclosures have reached a 37 year high, and an estimated 2 million homeowners will be put out on the street in the next few years. And that’s just for starters. The contagion has spread beyond the sub prime sector to other ARMs (Adjustable Rate Mortgages) where late payments and defaults are cropping up faster than their sub-prime counterparts. According to Goldman Sachs chief economist Jan Hatzius, “Prime ARM delinquencies are above their worst levels of the 2001 recession…. By contrast, sub-prime fixed-rate delinquencies are well below their recession levels.” (Barrons) High-flying US fund manager Jim Rogers summed up the impending crisis like this: “You can’t believe how bad it’s going to get. It’s going to be a disaster for many people who don’t have a clue about what happens when a real estate bubble pops. Real estate prices will go down 40-50% in bubble areas. There will be massive defaults. And it’ll be worse this time because we haven’t had this kind of speculative buying in U.S. history.” Then he added ominously, “When markets turn from bubble to reality, a lot of people get burned.”
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| Johnny Fist | Apr 6 2007, 11:32 PM Post #28 |
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Eh, while I agree to a certain extent with the article, I think its a bit exaggerated.
The minor correction we had several weeks back has nearly been erased, but I can't help but worry about the next one. As of last week, 50% of my long term investments have been sold and converted to cash. I've added those proceeds to my short term and day trading portfolio. I'm not ready to start hitting up CDs and bonds yet, but I'm hesitant to stay long on anything except a few well diversified mutual funds I believe can ride out the turbulance. Oil is a big favorite of mine right now. I'm up around 12% with the whole Iran vs. UK mess. I guess the moral of the sotry is the stock market is due for a correction, but its not going to be from the "subprime meltdown" as they say all over the news nowadays. Source. |
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| mireland | Apr 6 2007, 11:34 PM Post #29 |
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people who loan money to people who they know won't be able to pay back get the fucking they deserve. |
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| Johnny Fist | Apr 6 2007, 11:39 PM Post #30 |
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Well, the bright side is homes are getting cheap. You know, if you're looking to invest in real estate. |
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| werz | Apr 7 2007, 05:24 AM Post #31 |
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werz
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It's time prices dropped substantially, how bad is it when a guy on an average income of 40 to 50 thou, has to pay 1/2 a mil to buy a house that 15 yrs ago cost $40,000. All it did was force lower paid workers out of the market, and speculators and real estate agents made huge profits off the basic necessity we all need, that is to house ourselves and families. 20% of a household income is the maximum it should cost to buy a house which is sufficient to meet the needs of a family. If prices do drop, it will mean there will be a large number of people stuck paying way above the odds for there present house, and will have to wait 10 years for the prices to rise again, to reach their present values. The worry is, how will this adjustment ripple through to the rest of the economy causing unemployment. |
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| Johnny Fist | Apr 8 2007, 02:59 AM Post #32 |
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The people that are forced out of the market were the ones responsible for inflating the subprime loans. Otherwise they'd just go to a bank like everyone else. Do I feel bad for them? Not at all. In fact, they're probably the ones who are going to be the ones laid off when this "ripples through the economy." I don't see it being that big of a deal if the bottom of the barrel has a hard time. |
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| werz | Apr 18 2007, 09:39 PM Post #33 |
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werz
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The crisis deepens. http://www.informationclearinghouse.info/article17543.htm |
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| Johnny Fist | Apr 18 2007, 11:42 PM Post #34 |
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Now without copying and pasting describe to me in your own words what that article is saying. |
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| herosrest | Apr 19 2007, 05:40 AM Post #35 |
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lt says - Fist is a KUNT. BIg wet sloppy smelly and.............. hehe |
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| mireland | Apr 19 2007, 10:30 AM Post #36 |
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there's a tear in my beer and I'm crying for my dear.....
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| tantone | Apr 21 2007, 09:45 AM Post #37 |
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Typical herosrest post. Nothing useful or contributing. Just mindless and erratic ramblings of a sociopath. |
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| Johnny Fist | Apr 21 2007, 10:08 PM Post #38 |
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I tend to just ignore him because trying to reason with him is like reasoning with a retard. |
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| werz | May 11 2007, 12:04 AM Post #39 |
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werz
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Now you know how we feel fist, trying to reason with you. |
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| herosrest | May 11 2007, 08:26 PM Post #40 |
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3 Stable Mews http://theavengers.tv/forever/flat-1c.htm http://theavengers.tv/forever/locations-1.htm http://www.professorharbottle.co.uk/pub/lo...tend/dover.html |
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| J..M | Mar 17 2008, 12:01 AM Post #41 |
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Some Dick From The UK
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They have Homo's In Omaha ?
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| Johnny Fist | Mar 17 2008, 02:26 PM Post #42 |
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This thread sucks. |
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| werz | Mar 17 2008, 03:06 PM Post #43 |
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werz
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It all came true but even worse than I imagined,it's a long way down from here till we hit the bottom. |
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| Zybch | Mar 18 2008, 08:10 AM Post #44 |
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RULER!!!
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The problem though, is that they never pay. They get protection from the Govt and then just screw everyone over even harder. |
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| Johnny Fist | Mar 18 2008, 11:02 AM Post #45 |
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And then people that don't even live here bitch about it. |
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| porsch1909 | Mar 20 2008, 04:43 AM Post #46 |
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What ever happened to heroshit? |
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| Johnny Fist | Mar 20 2008, 07:09 AM Post #47 |
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Who cares as long as he isn't here. |
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| mireland | Mar 20 2008, 08:45 AM Post #48 |
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I was thinking the same about porsche... :lol: |
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| werz | Mar 20 2008, 12:13 PM Post #49 |
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werz
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We all were. |
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| herosrest | Mar 21 2008, 01:44 PM Post #50 |
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Oh i'm here mofo................
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