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Old 12-19-2007, 10:37 AM
 
Location: Fort Myers, Florida
21 posts, read 89,670 times
Reputation: 17

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Did anyone see this, this morning? He was saying that anyone not buying real estate now or within the next 6 months is a fool~ what do you all think? I think I agree~
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Old 12-19-2007, 10:39 AM
 
975 posts, read 3,430,253 times
Reputation: 263
That guy has always seemed like such a huckster to me. I can't stand to hear his big mouth flapping

Quote:
Originally Posted by WW47 View Post
Did anyone see this, this morning? He was saying that anyone not buying real estate now or within the next 6 months is a fool~ what do you all think? I think I agree~
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Old 12-19-2007, 10:42 AM
 
2,313 posts, read 2,393,755 times
Reputation: 471
Quote:
Originally Posted by WW47 View Post
Did anyone see this, this morning? He was saying that anyone not buying real estate now or within the next 6 months is a fool~ what do you all think? I think I agree~
The guy gives around 750 tips a year on his show. Then he points to the ones that were right and says "see".
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Old 12-19-2007, 10:42 AM
 
Location: Vero Beach, Fl
2,949 posts, read 12,159,047 times
Reputation: 2074
Leaving all things aside - as the bottom drops on real estate (and we are not there yet) there are going to be opportunities.
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Old 12-19-2007, 10:50 AM
 
975 posts, read 3,430,253 times
Reputation: 263
Do you think it's going to be in the next six months, though? They're saying that the subprime problem hasn't peaked yet.

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Originally Posted by jhlcomp View Post
Leaving all things aside - as the bottom drops on real estate (and we are not there yet) there are going to be opportunities.
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Old 12-19-2007, 11:01 AM
 
548 posts, read 390,012 times
Reputation: 126
I hope this thread is a joke. Or perhaps Cramer said the opposite of what was posted.

The huge real estate crash and long down cycle is just getting started. And Florida is the epicenter.

4 plus years inventory, lots of subprimes yet to reset, tons of foreclosures down the pike, job losses, stagnant wages, high insurance, high property taxes, high gas prices, consumer goods inflated at a tremendous pace, record levels of personal and government debt...and on and on.

There is absolutely nothing to point to anything but a horrible housing market for as far as the eye can see.

But what do I know. I cashed out of the stock market in early June at the peak. We bought a house in 2003 for $325,000 and sold at the peak in 2005 for $550,000. We now rent for half of what our costs of owning were, the profits earn 6% in a CD.

All this with information obtained from housing bubble blogs, you know, the people who have been right about this for the past 5 years. But sure, if Cramer's your thing, go for it and buy lots of real estate!!
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Old 12-19-2007, 11:15 AM
 
2,313 posts, read 2,393,755 times
Reputation: 471
Quote:
Originally Posted by CJFlorida View Post
I hope this thread is a joke. Or perhaps Cramer said the opposite of what was posted.

The huge real estate crash and long down cycle is just getting started. And Florida is the epicenter.

4 plus years inventory, lots of subprimes yet to reset, tons of foreclosures down the pike, job losses, stagnant wages, high insurance, high property taxes, high gas prices, consumer goods inflated at a tremendous pace, record levels of personal and government debt...and on and on.

There is absolutely nothing to point to anything but a horrible housing market for as far as the eye can see.

But what do I know. I cashed out of the stock market in early June at the peak. We bought a house in 2003 for $325,000 and sold at the peak in 2005 for $550,000. We now rent for half of what our costs of owning were, the profits earn 6% in a CD.

All this with information obtained from housing bubble blogs, you know, the people who have been right about this for the past 5 years. But sure, if Cramer's your thing, go for it and buy lots of real estate!!
It wasn't on his show but I saw him on a talk show the other night talking about how he beats Black Jack and I do remember him saying something like that about real estate. My wife watches him but I think the guy is a kook.
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Old 12-19-2007, 11:18 AM
 
548 posts, read 390,012 times
Reputation: 126
Quote:
Originally Posted by macguy View Post
It wasn't on his show but I saw him on a talk show the other night talking about how he beats Black Jack and I do remember him saying something like that about real estate. My wife watches him but I think the guy is a kook.
I think the OP heard it wrong. Google 'Cramer and buy a house now'. Lots of links come up to a video of him on the Today Show 2 months ago saying "Don't dare buy a house now" and giving tons of reasons why the down cycle could last 3-4 years.

The video is all over the place. If he said to buy this morning, it would be the total opposite of what he said very recently.
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Old 12-19-2007, 11:57 AM
 
Location: Where the sun likes to shine!!
20,517 posts, read 26,310,550 times
Reputation: 88529
I say, go for it Kramer. Buy that house now, you fool.
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Old 12-19-2007, 12:01 PM
 
Location: Fort Myers, Florida
21 posts, read 89,670 times
Reputation: 17
Quote:
Originally Posted by CJFlorida View Post
I think the OP heard it wrong. Google 'Cramer and buy a house now'. Lots of links come up to a video of him on the Today Show 2 months ago saying "Don't dare buy a house now" and giving tons of reasons why the down cycle could last 3-4 years.

The video is all over the place. If he said to buy this morning, it would be the total opposite of what he said very recently.
Jim Cramer did infact say that this morning on cup o' joe- the transcripts of the show are not online yet- he said not to buy 2 months ago- AND the fed is now providing 20 billion to banks for loans-
http://www.msnbc.msn.com/id/22326049/

If you have great credit and 10% down, you can get a great deal right now, even though we havent bottomed out yet, you dont have to offer the asking price, offer less- now is a great time for good borrowers who have money to invest, the market will eventually go back up, who knows when, but within the next 2-5 years, you could see a considerable return~ and with the credit crisis, there's MANY people who cant get loans right now, so what do they have to do? they have to rent
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