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Old 10-20-2016, 12:58 PM
 
Location: NYC
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Quote:
Originally Posted by redguard57 View Post
Sorry, meant the opposite. You can get relatively affordable places the further from NYC you're willing to go. Not possible in the Bay Area.
The difference is in Bay Area the cheapest places are still over $425k and takes over 2hrs of driving to get in around downtown. No direct mass transit options less than $600k
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Old 10-20-2016, 01:30 PM
 
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Quote:
Originally Posted by vision33r View Post
When you talk to people who are buying $700-900k homes simply by borrowing for that 20% down then take out another loan for the rest. Then you know we have a credit crisis down the road.
Most lenders will want to know where your down payment came from if it isn't obvious that you would have that kind of cash lying around. While it may be popular to think of them that way, these people are not actually stupid, after all.
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Old 10-20-2016, 01:33 PM
 
Location: NYC
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Quote:
Originally Posted by Pub-911 View Post
Most lenders will want to know where your down payment came from if it isn't obvious that you would have that kind of cash lying around. While it may be popular to think of them that way, these people are not actually stupid, after all.
Usually these folks already have another property or two elsewhere. Credit is their currency not cash.
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Old 10-20-2016, 02:06 PM
 
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Quote:
Originally Posted by vision33r View Post
Usually these folks already have another property or two elsewhere. Credit is their currency not cash.
Simply put, a lender will want cash for a down payment. If you could borrow it, then a 20% down payment requirement would actually be a 0% down payment requirement. If Mommy and Daddy simply hand you the 20% in cash, they will in all likelihood be asked by the lender to swear and affirm that the cash was a gift free and clear -- with no obligation via any means for repayment of a single penny of it.
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Old 10-21-2016, 11:08 AM
 
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I think The only way this could be turned into a bubble is by China begining to trade in Yuans with other nations and not only with Dollars. And if Those other countries who purchase in Yuans are able to trade between themselves in that currency, In that very moment US Dollar will lose portions of its market, and Inflation in USA will begin to grow since those dollar will turn back home.


If Saudi Arabia, Iran, Russia and Brasil begin to trade with Yuans, Then a Bubble of US Dollars will be Formed, and with that the whole economy in USA will be affected since dollars will lose value and people will run to Exchange them for Gold Silver and Oil futures. And poor people will suffer the destruction of value of their savings.

Last edited by Alonso_Castillo; 10-21-2016 at 11:20 AM..
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Old 10-21-2016, 11:28 AM
 
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The US assisted in making the Euro a major reserve and international currency. The list of dire consequences that resulted was and still is very short. Renminbi already does act as a regional currency and bilateral trade deals carried out in Chinese currency are increasingly common. But China as a whole still lacks the sort of transparency and presence in international trade that would be required for it to move very far ahead of where it is now. Their domestic situation does not presently suggest that things will improve much for them soon.
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Old 10-21-2016, 12:32 PM
 
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Quote:
Originally Posted by Pub-911 View Post
The US assisted in making the Euro a major reserve and international currency. The list of dire consequences that resulted was and still is very short. Renminbi already does act as a regional currency and bilateral trade deals carried out in Chinese currency are increasingly common. But China as a whole still lacks the sort of transparency and presence in international trade that would be required for it to move very far ahead of where it is now. Their domestic situation does not presently suggest that things will improve much for them soon.
I agree half of it.


USA didn't help in the Formation of Euro, in Fact, Alan Greenspan was very exeptic about it, he himself sais in one of his books tha he was amazed by the way Germany got to make European economies to align themselves to the German dynamics of Inflation, Productivity and Growth.


USA was so exceptic about Euro that since the Euro was going to be expelled in 2001 the Government of USA and the FED opened new Markets for the US dollar to Expand its use in contrast to Eurozone. That is Why Even when Reagan and Bush father were Very very Reluctant to allow China to enter WTO, the Turn of the Tide of a Germany dominated Europe made USA to be more alike to allow China to enter the WTO which from night to day dropped Taxes on chinese importation to USA. That Way the Printing of US Dollars would have not visible effects on the economy of USA since China would accept them in Exchange of their manufactures.


That very year in which China entered the WTO and Europe launched The Euro, To say 2001, Bush started the War with Iraq, to ensure that China will be forced to deal in US Dollar to buy its Oil and energy. It was a matter of Dollar circulation, not a matter of Mass destruction Weapons on Iraq.


Then USA made the movement to Occupy Afganistan, since Afganistan is the only country which separates China from Iran, Iran the second Largest proved reserve of oil in the World. If China and Iran close their trading in Gold or Yuans, then The Dollars used in the trading of Saudi Arabia with China would be useless, and they would go back into US Market creating inflation.


Brasil, Russia, China, Are very aware of that silent but increasing imposition of the Dollar as the Currency for International Trade, that alignent of the BRICS looks not other thing than an alternative economy independent of the thin air printed Dollars.


Jeb Bush, if you remmember was speaking of increasing the spending in army and military... ¿What war is there? the War of the Dollar Trading.




That is what Hillary Clinton calls "The American Exceptionalism". the situation by which US Govenrment can print any amount of dollars out of Thin Air since the World is being forced to trade it by military control of Iraq, Saudi Arabia, Afganistan, and the restriction on Iran's Oil trading.

Last edited by Alonso_Castillo; 10-21-2016 at 01:11 PM..
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Old 10-21-2016, 02:19 PM
 
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Quote:
Originally Posted by Alonso_Castillo View Post
USA didn't help in the Formation of Euro...
Let me rephrase that -- The US assisted in making the Euro a major reserve and international currency.

Japanese Yen and British Pounds are other global reserve currencies. Swiss francs have fallen back and are no longer used on a global scale. Canadian and Australian dollars meanwhile function as regional reserve currencies, as do Chinese yuan. The IMF recognized Renminbi about a year ago as a reserve currency because it came to comprise more than 10% of the SDR currency basket, but it is a long way yet from the status of the major reserve currencies.
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Old 10-21-2016, 02:38 PM
 
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SDR had already Marks and Franks as part of its composition
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Old 10-21-2016, 02:59 PM
 
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SDR's are presently based on US dollars, the Euro, Japanese yen, UK pounds, and Chinese Renminbi. In earlier trade and financial eras, other and different currencies than these were included.
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