Posted on 08/27/2007 4:06:37 AM PDT by Notary Sojac
Looks like we are going back to 20% down but its a bit late for that now.
The liberals in HUD, Fannie and Freddie did this to us ... and now they feel glee? Makes me want to vomit.
I know this is kinda' old, but where DID you put your savings?
“Do we really want to go back to requiring sterling credit and 20% down on all mortgages? “
YES!
DUH!
“I do not agree with this guy on his happiness.”
Since, I, the taxpayer, in all this is footing the bill, I’ll feel any damned way I please, and I feel great! People have said for years, years, as in ten+ years, that this sort of mortgage nonsense was an extremely bad idea that the rest of us will end up paying for in one way or another. We were told we didn’t know what we were talking about and to shut up. Now that we’re paying for all this, those that want to cry in their house they can’t pay for can shut up. Since we are paying their bills, we can feel any damned way we please to include laughing at them, because if we don’t laugh we’re all going to go nuts.
“Many of the speculator class will move from flip that house to flip that burger.”
Nope. The illegal aliens have that market cornered.
We haven't had our first quarter of negative growth yet. Certainly, this quarter will be. Unemployment is still only 6%. Gas and food prices are falling, and inflation is starting to get in check. Interest rates are declining. If we can loosen up the credit markets, it is still possible to avoid a technical recession. Falling stock market and housing values are hurting people, big time. But for the sharp investor that still has some cash, this is a HUGE opportunity. Great time to buy a house and start getting some positions in the market. I would have started with the DOW at 10,600. But now is even better.
I agree loosening the credit markets a bit is one of the keys.
But not as loose as we were in the 90’s and earlier in this decade.
I think that those with cash aren’t investing too much right now It seems to me the mattress is getting all the cash.
In plain old CDs at the highest rate of interest I could get. That might not work for everyone but I lead a very simple life and have no debt. I don’t travel a lot, don’t eat out much, etc.
A good friend of mine lost $80K a few days ago when the stock market plunged. She was at a funeral out of town and her broker couldn’t get ahold of her so they sold her portfolio out from under her. Something to do with margins. As I said, I don’t know enough about the stock market to discuss it intelligently, much less understand how to invest in it. So I stay away.
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