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Old 01-24-2008, 06:41 PM
 
Location: On the plateau, TN
13,616 posts, read 7,052,830 times
Reputation: 8527
GBH has the right idea "honker down".... When in doubt - do nothing ! Do "NOT" get caught up in any hype !

Gem, there will be an unannounced test.....
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Old 01-24-2008, 07:00 PM
 
Location: Atlanta suburb
4,733 posts, read 6,485,073 times
Reputation: 3404
Quote:
Originally Posted by hiknapster View Post
Well, Miss Gemthornton, Miss Hiknapster didn't inform you, because of the nature of the situation, but the fact is that there is a pop quiz, right now. No. You cannot look in your books. Put them under your seats, please. And no looking at your neighbor's paper.

For those not in the "know," MissGemthornton is a teacher, and I always wanted to do that!
Ya dun gud, Hi*!!
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Old 01-24-2008, 07:02 PM
 
Location: Atlanta suburb
4,733 posts, read 6,485,073 times
Reputation: 3404
Talking I'm good at pop quizzes; have to warn you!

Quote:
Originally Posted by Bones View Post
GBH has the right idea "honker down".... When in doubt - do nothing ! Do "NOT" get caught up in any hype !

Gem, there will be an unannounced test.....
Wow, you all know how to get somebody when they're down, don't you?!

I think I'll just let you all assume my weaknesses from here on, rather than spill them all out myself!

Yeah, I'm an economic weanie.
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Old 01-25-2008, 06:08 AM
 
Location: In an alternate universe according to some, AKA Aspergers
10,580 posts, read 11,542,929 times
Reputation: 4985
Well on an upside, since our dollar is in the tank we're being invaded by Canadians since their dollar is stronger than ours right now and they're buying property here (second,third homes) so there might be hope for me yet! Had an agent do a preview for a Canadian client coming next month to buy a vacation home.... Wish I could afford to buy a 400k vacation home.....
Maybe the stars will all come together and we'll sell into a historic low interest rate period that will allow us to buy more there!!!!
Here's hoping!!!
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Old 01-25-2008, 07:39 AM
 
2,199 posts, read 4,963,818 times
Reputation: 1640
Quote:
Originally Posted by SmokyMtnGal View Post
GBH - I started laughing when I read your post because while what you said is scary I had to have a nervous laugh! I read your post to my DH (we're sitting here at the kitchen table drinking tequila sunrises and eating port wine cheese and crackers). He said "it's true" followed by a "she's cute".
Sorry to be so scary-- I'm really not a permabear, just a pessimistic optimist. But it sounds like you have the right idea-- greet all the gloom 'n doom with a colorful cocktail and good cheeses. That Tequila Sunrise sounds good-- haven't had one in ages. Is the sun over the yardarm yet? What the heck-- it has OJ in it!

Thank DH for the "cute" remark. Don't get many compliments these days. Probably because I'm bundled in my puffer vest and sweats like a polar bear looking for the sun.
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Old 01-25-2008, 07:58 AM
 
2,199 posts, read 4,963,818 times
Reputation: 1640
Quote:
Originally Posted by hiknapster View Post
I wish I had the means to buy gold when it was affordble, but it is too high to buy now. Brazilian stocks are looking good right now.

This country is so misguided, trying to prop up the whole mess when there is no foundation to lay it on.
Sorry to be off-topic, but many feel gold is still a buy. It's currently in a short-term correction due to a temporary rally in the U.S. dollar (a kneejerk to worries about the euro) and a decline in purchases of gold in India, the world's largest jewelry market.

The dollar is poised to drop again, as soon as everyone finally accepts that interest rate cuts are only a placebo, not a silver bullet. Yes, gold prices have risen, but a 10% correction traditionally turns sellers to buyers. Many feel gold will soar upward of $1000/oz in 2008. If you feel bearish about the economy, and want to buy gold as a safe haven, the current correction offers an entry point. Not a financial advisor nor economist (nor real estate agent)-- just pointing it out.

Or we could all put gold fixtures in our Knoxville homes. Had to bring this on-topic some way.

P.S. Not a decorator, either.
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Old 01-25-2008, 02:57 PM
 
Location: Deane Hill, Knoxville, Tennessee
21,644 posts, read 31,163,222 times
Reputation: 11725
You know, someone on Market Watch wrote the comment that he had a $20 gold coin that is now worth $1,000, and that there is something wrong with this picture.

jimj, you are absolutely right. The only thing to save us is the Canadians buying the houses. Oh, and then there are the foreigners buying our monetary institutions. They finally discussed this on CNBC today. I started a thread about it over a month ago and got a ho-hum response from many. I think you backed me up, GBH.

Anyway, let the Canadians come on down. That means housing prices might go down in Canada. Sounds like a great place to move to.
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Old 09-22-2008, 10:12 AM
 
1 posts, read 1,067 times
Reputation: 10
Default Useful, to the point, correct. Thanks a ton.

Having been forced to wade through many a waffle in this forum I found your response to be concise and sensible. Awesome!
Thanks
Gary


Quote:
Originally Posted by Whataride View Post
The housing market in the Knoxville area will not be hit like the areas of the country that were boom/speculative buying areas. The definition of the housing bubble is when the median home price is increasing at a greater pace than the median income. In some areas of FL and CA the median increase annually of a home was between 25 and 35% while the median increase in income was between 8 and 10%. It does not take a rocket scientist to figure out that this can't last forever. The correction in the East TN area should be about 10% total and most of the builders have already cut the prices to move inventoryu to reflect this.

Now is a great time to buy...I locked in a rate on Friday at 5.5% on a 30 yr fixed mortgage for one of my clients with no origination points. Most of the people that will try to time the market will still have the same house payment as those that don't. When the bottom hits (probably pretty close to already hit in Knoxville) the rates will already start to rebound and the higher interest payment vs the lower house payment will equal out.

Do your economics research on this but do not let anyone tell you that the prime rate will lower and you need to wait etc etc.... The mortgage rates for fixed rate mortgages have nothing to do with the Prime rate. Fixed rate mortgages are priced on the bond market, not prime rate.
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Old 09-24-2008, 10:59 AM
 
Location: Knoxville
1,148 posts, read 2,050,089 times
Reputation: 348
Hey Husbus, I agree with most all the post, and you should have a heart to heart talk to your realtor, as no good agent ever tries to push property. I always let the client openly express their thoughts, and I really have nothing to say, unless invited or asked. It does not do any good, to share my thoughts, as its all about what suits you. Its always best to develop and believe in your realtor, and if that is not working, after talking and good communication, then move on to a good one. Good luck.
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Old 09-24-2008, 11:08 AM
 
Location: Deane Hill, Knoxville, Tennessee
21,644 posts, read 31,163,222 times
Reputation: 11725
This thread is nine months old. So much has happened since then.
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