[SLCPUNK]

Originally Posted by vegas_4u

How many people's stock portfolios wiped out in the tech boom bust in 2000? How many people's stock portfolios wiped out after 9/11? How many retirees 401(k)s shrunk to nothing after corporate corruption scandels?????

Come on now!!!

Stocks are very risky.... but...... it all comes back!! Look at the stock market run after the tech bust.....

IT ALL COMES BACK....including real estate.

doom and gloom people - whats your deal? We are in a market correction... deal with it. It's not the end of the world here. The real estate run up was great, thanks to lending that was too loose.... teaser rates, buyer beware. People bought the maximum house than they could afford, on teaser rates, hoping they could refi down the road when the rates went up. ZZZZ. burned.

If you can hold onto your invesments, though, you will always do fine in the long run,...

I didn't say it doesn't come back. All markets move up and down, but buying now is not a deal IMO.

I'm not pushing stocks, I'm pushing dollar cost averaging (start young especially) with pre tax money into a 401k. I'm pushing not overextending yourself. I'm pushing buying what you can afford, on as short a note as possible. I'm pushing common sense, which half of America has seemed to throw out the friggin' window.

There is no doom and gloom on my end, only reality. Sales people don't seem to appreciate it I know.

The RE run up was one of the worst things that happened as of late. Sure it made plenty of people some money, but look at the aftermath of it all. Record foreclosures are great? Banks in crisis is great? The domino effect into wall street is great? The economic turn down is great?

[vegas_4u]

Originally Posted by SLCPUNK

I didn't say it doesn't come back. All markets move up and down, but buying now is not a deal IMO.

I'm not pushing stocks, I'm pushing dollar cost averaging (start young especially) with pre tax money into a 401k. I'm pushing not overextending yourself. I'm pushing buying what you can afford, on as short a note as possible. I'm pushing common sense, which half of America has seemed to throw out the friggin' window.

There is no doom and gloom on my end, only reality. Sales people don't seem to appreciate it I know.

The RE run up was one of the worst things that happened as of late. Sure it made plenty of people some money, but look at the aftermath of it all. Record foreclosures are great? Banks in crisis is great? The domino effect into wall street is great? The economic turn down is great?

Unfortunately, that is the price to pay, the run up was greed, many on the part of predatory lending. Everyone wanted to get on the bandwagon, because people thought there was no end in sight to real estate appreciation. Btw, Wall St. was responsible for many of the predatory lending programs that occured...these packaged sub-prime loans were a significant part of this....but no one stopped it, because ..... during boom time, nobody wanted to restrict the opportunity for someone to make big bux... after all, this is America, the land of opportunity!! You can sense my sarcasm in this, I hope. So, Wall St. is to blame as well, and it is biting wall st. now.

So, the predatory lending went out of control, fueling increased prices by creating more and more buyers on teaser loans and ARMs...... it was destined for doom. I will admit one thing - i didnt' think we would see the mass credit crisis nationwide that we see now, I thought it would be more isolated pockets. I can't believe that anyone would have predicted the scope of this credit crisis. People, including myself, could not have predicted it would get this bad. During the major boom in 2003 to 2005, I didn't hear any analysts say "WHOA -- we gotta stop this".... and if they did, they were ignored....

This is always the problem with our economy. - greed and corruption run rampant, always will. I see swings like this in the future. Now whether or not you agree with the way business works, the key is to make money off of these swings....... buying real estate now is a win win. The problem is, it is hard to get a loan, even owner occupied primaries are getting turned down with 720+ credit scores witih 20% down. But it will loosen up, and some banks will come out roaring, like Bank of America.... look at what they are doing.... maybe you should buy B of A stock?

[bumpercar]

ReviewJournal.com - Business - LV at center of mortgage-fraud bull's-eye

[Daddys///M3]

Originally Posted by vegas_4u

This is always the problem with our economy. - greed and corruption run rampant, always will. I see swings like this in the future. Now whether or not you agree with the way business works, the key is to make money off of these swings....... buying real estate now is a win win. The problem is, it is hard to get a loan, even owner occupied primaries are getting turned down with 720+ credit scores witih 20% down. But it will loosen up, and some banks will come out roaring, like Bank of America.... look at what they are doing.... maybe you should buy B of A stock?

This is not true. I do not know where you are getting this info from but it is highly inaccurate. The programs that have disappeared or are disappearing are the high loan to value stated income programs, for obvious reasons, many non-owner occupied programs, and piggyback (80/20, 80/15, and 80/10's) loans because of the inherent risk that the second lien holders face due to current market conditions.

[Chest Rockwell]

vegas_4u has set a city data record for most untrue statements in a 2 week period.

[bumpercar]

Guess it's time for you to start worrying.

Foreclosure on Las Vegas Casino to Begin

Originally Posted by olecapt

Sorry Real Estate Remains Local.

Could we be heading into a global recession/depression? I would think it possible but a low probability.

I will start to really worry when the cranes on the strip shutdown. When those vast edificies underway become inactive monument to what was to be but is no more.

In the interim pass the grain of salt.

[olecapt]

Originally Posted by bumpercar

Guess it's time for you to start worrying.

Foreclosure on Las Vegas Casino to Begin

Still abuilding. Cranes working away...

[SHEPNYC]

missed interest payments!

Bloomberg.com: U.S.

[sheriff]

Originally Posted by bumpercar

Guess it's time for you to start worrying.

Foreclosure on Las Vegas Casino to Begin

A $3.9 bil project? Hardly---kind of renders this article inaccurate. The Cosmopolitan Resort & Casino, Las Vegas Condo Hotel Near Project CityCenter

[SHEPNYC]

"Such schemes "have contributed significantly to the demise of the real estate market in Las Vegas and have inflated entire new developments," the FBI said."

FBI starts Nevada mortgage-fraud task force | U.S. | Reuters