Posted on 08/20/2005 4:18:25 AM PDT by thinking4me
Ohh and by the way, if Fannie has delayed again its accounting restatement until next year and must hire 1500 consultants to clean up this mega-giga-mess, what does it mean???
Also today the average savings rate in america is ZERO and if you look at the DOW index, it has remained between the 10,000 and 11,000 benchmark for the last 5 years... do you see anything wrong with this picture? I hope you do!!!!
Conclusion: those who ignore history are doomed to repeat it.
Keep and eye on the upcoming US real estate crash http://www.moneyfiles.org/housingcrash21.html
Conclusion: those who ignore history are doomed to repeat it.
So what are you recommending as a place to store wealth?
I never have understood the rush to Florida. It's one of the most inhospitable and miserable places in the country.
I'm writing this to you as the morning sun is rising over the blue-green waters of the Atlantic Ocean, about 200 yards from my computer. I might take a walk on the beach in a little while to wake up.
Today I'll drive along A1A to run a couple of errands and be slightly frustrated at all of the old folks and how slowly they drive, but will also chat with several of them that work in the stores. They're a nice bunch, seemingly always talking about what their grandkids (my age) are doing.
Tomorrow, I'll be on a pontoon boat cruising up and down the Halifax River drinking beer, listening to music and casting the fishing pole now and again. The weather will be nice for the most part, with maybe a thunderstorm or two in the afternoon to cool things down.
My part of Florida's quite a nice place. It's a rough life, but someone's got to live it. :)
Not here in Ormond Beach. The water's drinkable right out of the tap. Guess it depends on where you go in FL as to your experience.
and they useful-idiots are still buying swamp land and crying when they flood from a storm!
But now, thanks to the lawyers, judges, politicians, they can force everyone else in America to subsidize their stupidity by raising the nation's insurance rates!
Ask Bruce Williams! He hates people on assistance but feels it's great his insurance on his beach house is subsidized by someone in Arizona!
Hey now, I resemble that remark.
They renamed Mosquito Inlet: Ponce Inlet, not Ponce deLeon Inlet. I spent the days of my youth in this area working on the fishing boats They should have left the name Mosquito Inlet!
I loved this area as a young man, but it is now so crowded and full of rude people all in a hurry that I could not imagine living there again. I last visited about ten years ago, and I don't know if I'll ever go back.
I dont know money to be made in stox house doing well employment easy to get and interest rates nice and low,
always ask yourself, "what is the AP trying to make me think by running this story?"
Yeah, when I was in HS we used to drive to New Smyrna in the middle of the night and sleep on the beach until sunrise. It's now like a parking lot from Orlando to there.
Regarding underwater lots, they're still selling them - and buying. Actually, what has happened is that during periods of drought low lying areas that are ordinarily under water, or close to it, are quite dry and the local governments turn a blind eye to building on them. Normal rainfall returns 10 years later and bingo we got lots of flooded homes and property.
Matter of fact, a couple of years ago, here in Lakeland, there was a picture in the paper of a house in town with water up to the roof! Caption read, "....built on a dry lake bed..." Now why did the local authorities approve building on a lake bed? Lotta palm greasing going on.
We natives cannot be held responsible for the actions of the carpetbaggers who have transplanted themselves here. No offense to any Northerners; no FReeper would behave that badly. (I hope.)
"do you see anything wrong with this picture? I hope you do!!!!"
Nope, everythings just peachy and will continue to be so into the forseeable future. I heard it right here on FR.
Let's get some fact straight here...
When Fannie Restates it will most likely INCREASE it's profits.
The saving rate is Zero using the old 1950's definition. It does NOT include 401K balances, wealth stored in property, nor IRA's. The definition needs to be revised. According to the old definition I have saved less than 1% of my income. In reality it is more like 40%.
What he's clearing is what's grown up since 1965, the last time a developer went broke on the same swamp.
Magnificent waterfront opportunity in the swamp = The End Is Near.
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