Posted on 07/22/2014 7:24:08 PM PDT by Signalman
Been reading this Chicken Little stuff for 30 years.
“Dogs and cats, living together...MASS HYSTERIA!”
If the world can get rid of Obama...we are on the verge of a Renaissance.
Yep..... what’s crazy is that most who think this economic collapse is coming also believe the dollar will loose all of its value. And, to prepare for this event they take everything out of the market and put it in cash. Go figure....
Heavily invested in lead.
We’ve got a few rent houses that are paid for and producing nice retirement income. You can’t go wrong owning investment property. People will always need a place to live. Nothing wrong with owning enough lead too :)
Actually, they are the ones buying gold. And gold won’t go up. The big boys are going to need it to pay their derivative margin debt.
Dent’s whole “thing” is based on a massive demographic collapse—the transition of the Baby Boom into retirement wholly unprepared for it. Add on all of the crap Obama has done and it just magnifies the impact.
People will be selling all of their assets—and no one will buy.
Problem is you could have said that in Jan of 13. And the market made 28% in 2013.
You know.... the interesting thing here in Oklahoma. When the real estate bubble burst... home values went down some (not as dramatically as other parts of the country because the bubble was not as large here)... but even with property values dropping, monthly rental prices continued to go up. People always need a place to live.
Gold.... I’m not sure what value gold will have in an economic collapse. I can think of a lot of things that would be of more value (ammunition etc) than gold. I know its a precious metal, but what is it worth from a practical perspective? Its only worth what it will buy or the dollars it will buy?
“We’ve got a few rent houses that are paid for and producing nice retirement income.”
OUTSTANDING!
No we're not. What a moron.
I put a pair of apartments over my garage for much the same reason.
We’re dooooooomed!
Mr Dent seems to really be mouthing off here. Anybody know his track record?
Here's another good plan.... I've done a couple of these. In OKC, 125k will buy a 1500 sq ft house 20 years old or so. You buy the house and pay cash for it. You sell it to someone with marginal credit. Someone that traditional lending institutions won't lend to. There are people who make mistakes during their 20's and get into their 30's and get their act together. They have money and jobs but not good credit yet. You sell to them for 135k. And they give you 10 to 15k down. You loan them the balance at 6.5%. You amortize the loan on 20 or 30 years but balloon it in 10. Their plan is to repair credit and eventually refinance. You're out of the deal in 10 years either way. You collect their taxes and insurance just like a mortgage company would and escrow it etc. YOu can manage the whole thing on one excel spread sheet.
If you've picked the right couple... and you'll have lots of couples to choose from.... you've just set up a 6.5% investment with a real asset behind it. Not the obama market behind it, and not some municiple bond from a city that may file bankruptcy some day. They own the house so you don't have the traditional landlord "fun". Honestly, I could sell a house every single day like this. if Finding people to buy them is EASY EASY EASY. And if they default, you get the house back and start over. You can't get a better deal.
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