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Old 01-09-2008, 08:51 AM
 
Location: Hernando County, FL
8,489 posts, read 20,674,840 times
Reputation: 5397

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Quote:
Originally Posted by Crazy G View Post
Fannie Mae boss sees trouble until 2010 - Real estate - MSNBC.com

He says.....2009...maybe 2010.....

I don't know why Mike Peterson, wants to bite the hand that feeds him....

Because that's where a big chunk of his income is originated!!!!

PS...And YES!!! Housing prices have fallen, and will continue to fall...AND MORE IMPORTANTLY!!!!!
""""IF"" You are NOT currently under water [ as Mike Peterson says some people aren't]..
THEY WILL BE.......
And YES!!!!
>>>>>>>>"""THERE WILL BE TEARS""<<<<<<<

It is nonsensical posts like this that keeps me from posting on these threads.
There are good posters out there that have a completely different viewpoint than myself but they can put together a coherent thought and we can have a discussion.
You on the other hand bring nothing to the table.
I know I said before I would not reply to you again but had to get this last one in.
You are now on ignore, if I thought you could attempt to put together a rational idea I might give it a chance but I don't think you ever will.

 
Old 01-09-2008, 08:54 AM
 
17 posts, read 46,024 times
Reputation: 19
I think you need to spend some time in other parts of Florida beside the coastal areas. Homes have gone up everywhere. Florida is not the cheap mecca it once was. A friend from CA said it is becoming like CA here without the good wages. We moved here in 1994 our home was built in 1988 and is well built. We did not buy in a retirement community so that may make a differnce. Spend some more time here before you decide. Its a big country.
 
Old 01-09-2008, 01:27 PM
 
132 posts, read 126,911 times
Reputation: 34
So we were renting a townhouse in Plantation Bay, in Ormond Bch, Fl., from a flipper, who purchased it for $250K, and couldn't sell it for $300K....He had a couple of them, and needed cash flow, so we rented it from him for $1250/mo....[ he had $200K arm mtg, and $4500 taxes to cover]
Down the street and around the corner was a row, of SFR, most of which were empty, and for sale by flippers, for $325K to $425K....
I think there were 11, just on that one street alone....
So I'm taking the dog for a walk one day, and see the neighbor, and we start talking about the real estate situation in there.....
Well!!!!! It turns out he's a realtor.....and has got the positive ""SPIN"", that real estate has """ALWAYS"" gone up.....I pointed out to him, the numerous instances in which that is NOT true....
""HE"", like most realtors, don't like the """NEGATIVE"", and cut me short....
WELL!!! And as Paul Harvey, used to say...the rest of the story ""IS""..
This guy paid $375K for his house, and had a $300K mtg....The house right next door to him, was listed for $336K, but didn't sell....They dropped the price to under $296K.....IT STILL DIDN'T SELL....and hasn't in more than 2 years....
The house across the street, was for sale, and finally they put it up for silent auction, thru a realtor TWICE....It still didn't sell even though the asking price was dropped to $282K....
All the 11 houses were finally rented, to anybody who could pay the rent...most were rented for $1000 -1300/mo...
Some of the families are...PEOPLE NOT LIKE US...""IF"" you know what I mean
about an up scale golfing community with 1500 homes, ranging from $250K to $3 Million....and 3 full golf course....""ALL PRIVATE"""..
Soo....the answer is this 'smart' realtor, just paid $375K for a house that the guy across the street couldn't sell for $282K....

I do believe, that realtors sometimes believe to much of their own "SPIN"", and get us all in trouble!!!!



washingtonpost.com - nation, world, technology and Washington area news and headlines....

Amount of people moving into Florida dropped to 35,000 last year...

H**L, more old foogies died last year than newbies moved in!!!!

Last edited by sunrico90; 01-09-2008 at 03:04 PM..
 
Old 01-09-2008, 02:29 PM
 
270 posts, read 571,565 times
Reputation: 78
well I unlike everyone else like your style crazy g,keep it up ..I think he knows exactly what hes talking about ,he just chooses to be cocky like the fbs once were(ah memories) so cant say I blame him its amusing,and tears will be abundant.I wonder if the mother of all bubbles will make americans have a good memory,or if we will be back at it again in 20 years?cant focus on that now, must focus on the bottom,98 prices here we come..
 
Old 01-09-2008, 02:33 PM
 
548 posts, read 542,931 times
Reputation: 126
Quote:
Originally Posted by lostbuyer View Post
well I unlike everyone else like your style crazy g,keep it up ..I think he knows exactly what hes talking about ,he just chooses to be cocky like the fbs once were(ah memories) so cant say I blame him its amusing,and tears will be abundant.I wonder if the mother of all bubbles will make americans have a good memory,or if we will be back at it again in 20 years?cant focus on that now, must focus on the bottom,98 prices here we come..
I agree.

What is more absurd, Realtors and the real estate industry trying to give us advice, have credibility, and predict market bottoms....after being wrong and/or downright corrupt for years? Or crazyG's ideas?

Seems to me crazy's posts are more accurate than any spin from the real estate industry.
 
Old 01-09-2008, 03:15 PM
 
Location: Lowcountry
764 posts, read 1,599,399 times
Reputation: 416
Quote:
Originally Posted by chisoxfan View Post
...household incomes in the $100,000-a-year range. They are not lavish spenders, simply people who are living beyond their means through no fault of their own.
I guess I don't get that statement unless somebody forced them (gun to their head??) to spend lavishly. I don't think so. Big boy rules need to apply.
 
Old 01-09-2008, 03:19 PM
 
Location: Lowcountry
764 posts, read 1,599,399 times
Reputation: 416
Quote:
Originally Posted by Crazy G View Post
One of the largest banks in the United States is on the ropes, and primed to go ""DOWN"""....
YES!!! CitiCorp.....A ""MAJOR"" Wall Street Bank, just may ""NOT"" survive!!!

They've had 'captial injections' from the Arabs, they restricted ATM withdrawls, and wire transfers, and have announced workforce lay-offs of 5-10%....OHH YAH!!! They fired their boss man also!!!

Like I say:.....When you lose your job, and then can't get your money out of the bank...

>>>>>>>>"""THERE WILL BE TEARS"""<<<<<<<<
The guy who owns most of CITI is a very wealth Saudi prince who 'bought' this bank in the late 80s and early 90s. Isn't it ironic that all his money came from us buying his oil and he then invested his oil billions in our real estate market. I guess it's just desserts don't you think? Payback is sweet....
 
Old 01-09-2008, 03:28 PM
 
Location: Lowcountry
764 posts, read 1,599,399 times
Reputation: 416
Quote:
Originally Posted by elfyum View Post
All those who love what FL has, come on down! Those who don't like what FL has, don't come on down!
Sounds good. Someone needs to buy all those empty houses to shore up the tax base. Buying a home today in FL for just pennies on the dollar is always a good thing.
 
Old 01-09-2008, 03:39 PM
 
Location: Orlando, FL
973 posts, read 2,232,064 times
Reputation: 383
Quote:
Originally Posted by CJFlorida View Post
I agree.

What is more absurd, Realtors and the real estate industry trying to give us advice, have credibility, and predict market bottoms....after being wrong and/or downright corrupt for years? Or crazyG's ideas?

Seems to me crazy's posts are more accurate than any spin from the real estate industry.
I'm not saying his posts aren't accurate - they're quite informed. It's his delivery that looks like a tacky used car ad in the paper.
 
Old 01-09-2008, 04:25 PM
 
Location: The Conterminous United States
22,584 posts, read 54,364,007 times
Reputation: 13615
All I can say is I can't give Crazy G anymore rep points until I spread it around!

Go Crazy G!
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