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Old 03-09-2010, 12:23 PM
 
98 posts, read 286,404 times
Reputation: 47

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Quote:
Originally Posted by Ponderosa View Post
The US stock market hit its nadir (for recent times) one year ago today. A year later the Dow is up 60%, S&P up 70% and NASDAQ around 80%. Think about that!!!! If one sat on the sidelines believing the doomers, you lost out on historic profits. People who put their money in the stock of banks the "experts" predicted would fail or take years to recover made far, far more. Be wary of the Zandi's and the doom-mongers whose reason is clouded by their political viewpoints. Read the tea leaves, not the opinion pieces.
In today's AZCentral (money section), there are 2 articles. One says more companies plan to lay more people off in the 2nd quarter of 2010. Another article is saying bankruptcies are up in February.

Stock market doesn't make sense a lot of the time. Otherwise, we'd all be rich.

Were you also telling people in 2005 to buy more real estate and don't listen to the doom and gloom people?
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Old 03-09-2010, 12:29 PM
 
93,189 posts, read 123,783,345 times
Reputation: 18253
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Old 03-09-2010, 12:33 PM
 
Location: Sonoran Desert
39,073 posts, read 51,199,205 times
Reputation: 28313
Quote:
Originally Posted by aoeu00 View Post
In today's AZCentral (money section), there are 2 articles. One says more companies plan to lay more people off in the 2nd quarter of 2010. Another article is saying bankruptcies are up in February.

Stock market doesn't make sense a lot of the time. Otherwise, we'd all be rich.

Were you also telling people in 2005 to buy more real estate and don't listen to the doom and gloom people?
No, and I wasn't smart enough to sell my house back then either.

But you allude to an important point. When the pundits and preachers are all on the up side it may well be time to sell. And when they all turn to doom and desperation it may time to buy. The contrarian, more often than not, gets the worm.
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Old 03-09-2010, 04:41 PM
 
9,741 posts, read 11,152,452 times
Reputation: 8482
Quote:
Originally Posted by Ponderosa View Post
No, and I wasn't smart enough to sell my house back then either.

But you allude to an important point. When the pundits and preachers are all on the up side it may well be time to sell. And when they all turn to doom and desperation it may time to buy. The contrarian, more often than not, gets the worm.
Of course people get it wrong all the time. We are dealing with probabilities.

You are trying to link a parallel with stocks and housing…. The portion of the stock marekt is attempting to predict the future.

It seems you are suggesting that big gains "are-a-coming" in housing. So what is going to get Phoenix out of this housing mess??
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Old 03-09-2010, 04:56 PM
 
Location: Sonoran Desert
39,073 posts, read 51,199,205 times
Reputation: 28313
Quote:
Originally Posted by MN-Born-n-Raised View Post
Of course people get it wrong all the time. We are dealing with probabilities.

You are trying to link a parallel with stocks and housing…. The portion of the stock marekt is attempting to predict the future.

It seems you are suggesting that big gains "are-a-coming" in housing. So what is going to get Phoenix out of this housing mess??
Same thing as the markets - bargain prices. While you sit around waiting for the 26% drop that is not going to come, savvy investors are grabbing up every foreclosure the banks put out there. For cash!
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Old 03-09-2010, 08:10 PM
 
9,741 posts, read 11,152,452 times
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Quote:
Originally Posted by Ponderosa View Post
Same thing as the markets - bargain prices. While you sit around waiting for the 26% drop that is not going to come, savvy investors are grabbing up every foreclosure the banks put out there. For cash!
I never said that it was going to drop another 26%... An economist did. I said I predict it to fall some more. As to when, it depends how far we kick the can down the road. I also said I'm waiting because I don't see a worthy appreciate over my holding costs over the next couple of years. It’s all about risk-reward. I don't need another home until I semi-retire and I don’t want to mess around with some $875 a month “cash flow”. I also said things could get much worse. But if I was a 1st time buyer, I'd take the plunge. But I am making sure I hang onto what I have. I use to work 100 hours a week. I like my current work load a lot better.

I go for base hits while others go for triples. In the end, I’m happy with my approach. For the record, most "investors" that are "snatching up those homes" are people off the streets who forget to calculate ROI when it comes to properties. Let's wait a year or two and revisit the thread. Your 2008 posts proved to be off a bit.

As you pointed out to me earlier, you also have “skin in the game”. Your politician of choice is in power and you have a couple of homes in Phoenix. You are going to rationalize your decision and I don’t think you can be objective. And there is no point trying to sway me.
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Old 03-09-2010, 08:17 PM
 
Location: SE Arizona - FINALLY! :D
20,460 posts, read 26,319,675 times
Reputation: 7627
Quote:
Originally Posted by MN-Born-n-Raised View Post
For the record, most "investors" that are "snatching up those homes" are people off the streets who forget to calculate ROI when it comes to properties.
Really?
Do you have any evidence of that?
Or is that just your "gut" feeling?

Ken
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Old 03-09-2010, 11:15 PM
 
584 posts, read 1,340,102 times
Reputation: 476
Quote:
Originally Posted by MN-Born-n-Raised View Post
I never said that it was going to drop another 26%... An economist did. I said I predict it to fall some more. As to when, it depends how far we kick the can down the road. I also said I'm waiting because I don't see a worthy appreciate over my holding costs over the next couple of years. It’s all about risk-reward. I don't need another home until I semi-retire and I don’t want to mess around with some $875 a month “cash flow”. I also said things could get much worse. But if I was a 1st time buyer, I'd take the plunge. But I am making sure I hang onto what I have. I use to work 100 hours a week. I like my current work load a lot better.

I go for base hits while others go for triples. In the end, I’m happy with my approach. For the record, most "investors" that are "snatching up those homes" are people off the streets who forget to calculate ROI when it comes to properties. Let's wait a year or two and revisit the thread. Your 2008 posts proved to be off a bit.

As you pointed out to me earlier, you also have “skin in the game”. Your politician of choice is in power and you have a couple of homes in Phoenix. You are going to rationalize your decision and I don’t think you can be objective. And there is no point trying to sway me.

I have been reading your thread and it made me LOL.
You're trying so hard to be a pro but too bad you don't even have a vision of one.
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Old 03-10-2010, 07:47 AM
 
930 posts, read 2,422,640 times
Reputation: 1007
I don't believe anything until Capt Bill confirms or denies it.
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Old 03-10-2010, 09:08 AM
 
Location: Gilbert - Val Vista Lakes
6,069 posts, read 14,773,863 times
Reputation: 3876
Quote:
Originally Posted by Beena View Post
I don't believe anything until Capt Bill confirms or denies it.
Beena you've got to quit building me up like this. You know I don't know what's going on here.

After all, I'm only an investor who buys, rehabs and sells homes, and a realtor who works with buyers coming here to buy cheap houses.

You need to begin relying on these out of town folk who are experts in this area.
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