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Old 08-16-2008, 10:32 AM
 
2,265 posts, read 3,722,493 times
Reputation: 382

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Quote:
Originally Posted by ViewFromThePeak View Post
Whoa, relax there sparky. No need to get out your tin foil hat. The world isn't going to end. Nowhere close. It'll just feel that way for most Americans. Did I suffer from dot bomb? Not a single bit. Do I suffer from the real estate ponzi scheme collapsing? Quite the contrary with my shorting CMOs, Beazer stock and financials and buying commodities and gold years back. Now, what about some ******* who bought a house in Sunny CA just 2 years ago? Kind of feels like the sky is falling for them, don't it?

See, it's all a matter of perspective.
Nobody made him buy a house. No tin foil hat here.
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Old 08-16-2008, 12:37 PM
 
Location: Marietta, GA
7,887 posts, read 17,133,531 times
Reputation: 3701
Quote:
Originally Posted by ViewFromThePeak View Post
Now, what about some ******* who bought a house in Sunny CA just 2 years ago? Kind of feels like the sky is falling for them, don't it?
Buying a house was never a guarantee of appreciation. You buy a house to live in, not as an investment, and if you do so smartly with a downpayment and a fixed rate loan, you will usually be OK. Sometimes there are dips in the market, and sometimes you see bubbles. The problem is that some people, especially in places like CA, just expected endless appreciation and expected to continue to be able to buy a house and flip it in 2 years for twice what they paid. Values had gotten ridiculous in CA, with shacks on postage stamp lots going for outrageous sums.

Those days are over, so back to reality.
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Old 08-16-2008, 01:39 PM
 
Location: Raleigh, NC
9,059 posts, read 12,938,314 times
Reputation: 1401
Quote:
Originally Posted by neil0311 View Post
Buying a house was never a guarantee of appreciation. You buy a house to live in, not as an investment, and if you do so smartly with a downpayment and a fixed rate loan, you will usually be OK. Sometimes there are dips in the market, and sometimes you see bubbles. The problem is that some people, especially in places like CA, just expected endless appreciation and expected to continue to be able to buy a house and flip it in 2 years for twice what they paid. Values had gotten ridiculous in CA, with shacks on postage stamp lots going for outrageous sums.

Those days are over, so back to reality.
Definitely back to reality. Like I said though, to most of the people in the mentioned scenario and to those who are yet to be affected in their supposedly "bullet proof" housing markets, losing all their existing equity and then some will feel like the end of the world.

Oh well, as they say...better him than me
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Old 08-16-2008, 04:32 PM
 
10 posts, read 11,943 times
Reputation: 11
I think that consolidation of efforts decrease risks.
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Old 08-16-2008, 11:20 PM
 
Location: Jonquil City (aka Smyrna) Georgia- by Atlanta
16,259 posts, read 24,679,377 times
Reputation: 3587
Quote:
Originally Posted by Kerby W-R View Post
Global systemic crisis / September 2008 - Phase of collapse of US real economy

Is the U.S. economy getting ready to crash ? What do you think ?
No. The idea of such a thing is silly. It is virtually impossible.
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Old 08-17-2008, 06:46 AM
 
Location: Beautiful Lakes & Mountains of East TN
3,454 posts, read 7,388,729 times
Reputation: 882
...but on the off chance it does happen, some government program will take care of us, right?
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Old 08-17-2008, 06:53 AM
 
Location: Jonquil City (aka Smyrna) Georgia- by Atlanta
16,259 posts, read 24,679,377 times
Reputation: 3587
Quote:
Originally Posted by bbkaren View Post
...but on the off chance it does happen, some government program will take care of us, right?
I am quite sure that the government will not allow people to starve and die. Oh wait!!!!!! I forgot about Hoover and the big depression and Bush and Katrina!!! So maybe the government WILL allow us to starve and die.
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Old 08-04-2011, 03:39 PM
 
Location: Malaysia
321 posts, read 531,972 times
Reputation: 171
Already , the EC is having nightmares with the defaults, USA is buying time to avoid the default, Japan is also in the ICU, now what's prognosis?

Whatever goes up, must come down. Whatever goes up steadily, would comes down painfully. - Just like a ballon if you keep blowing it, it goes out in a bang!

Look at the food consumable commodities - it has gone skyrocket high. Dread to think what would happen not just to USA but the rest of the world when the unthinkable of USA Titanic economics were to sink!!!
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Old 08-04-2011, 03:43 PM
 
Location: Texas State Fair
8,560 posts, read 11,176,879 times
Reputation: 4257
Quote:
Originally Posted by Kerby W-R View Post
Global systemic crisis / September 2008 - Phase of collapse of US real economy

Is the U.S. economy getting ready to crash ? What do you think ?
Seems likely...


‪Al Jolson - Brother can you spare a Dime‬‏ - YouTube
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Old 08-04-2011, 03:46 PM
 
Location: Malaysia
321 posts, read 531,972 times
Reputation: 171
Quote:
Originally Posted by KevK View Post
No. The idea of such a thing is silly. It is virtually impossible.
Titanic is said to be unsinkable.
It doesnt makes sense that USA with vast lands of resources and leaders in automobile to technology, from Microsoft to Dell Hard, Wall Steet to Main Street of economics wonders, would see itself to be the world's largest debtor in town!
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