Posted on 01/27/2009 7:09:24 PM PST by ProtectOurFreedom
Yup. It IS possible to get something from nothing.
Belmont, CA just banned smoking in your own private condo and apartment. Coming soon to a state where you live. Better find a Plan B, Dave. Suggest you invest in Malt Liquour makers.
At the moment there's a shortage of rentals, but that will disappear as new buyers snap up bargain rate existing housing at very low mortgage interest rates.
Don't invest in gold or silver either ~ the guys in the "super atom" business are rapidly developing manufacturing processes to create all of that stuff that anyone could need ~ best bet is ETFs ~ that way you invest in an "industry" or a "market segment" on your terms, and are not distracted by companies engaged in head to head competition regarding a single product or a narrow range of services.
You reap the benefits of the surges in the industry or market sector as a whole, and with very little loss compared to other methods for part time investors.
I'm looking for ETFs WITHOUT cement plants, container ships, automobile manufacturers and facilities in California, Connecticut, Massachusetts or New Mexico.
Believe it or not it's actually difficult to identify such ETFs! The cement plants are everywhere ~ but it's going to be a decade before construction is up to its old pace.
I paid off my mortgage too, now we get to pay other people's mortgages. Are we just a couple of dummies or what?
“Seriously now, when was the last time you saw housing prices all over the country drop an average of 40%?”
My home in Glendale CA dropped over 50% in the 90 crash from $750k to $350k.
10 years later it was back to the $750 level went to $1.2mil last year and is now down to $900k, so what, prices go up and prices go down but the government has no right to save anyone from defaulting on a mortgage.
No matter what the price if the house is after forclosure the origional squatters shouldn’t be allowed to remain there.
0bama is trying to save them from that fate by killing them in the womb. If they aren't allowed to be born, they can't owe anything.
All 3 of the poor people in Belmont are moving soon.
When Oakland, East Palo Alto, or Compton bans smoking the plan will change.
Actually, you led me to a good question. When does Belmont get the the civil rights lawsuit for this? I don't know that Jesse & Co want to be part of the action, but someone is going to point out that smoking inversely correlates with income and this ban is discriminatory.
“The operative word here is STALL foreclosures because that is all they are doing. Their debt to income ratio is out of whack”
Read the fine print - they are going to reduce outstanding balances.
You know that neighbor, we all have one. They go on vacation every year, own a boat,maybe a corvette. Clearly they can’t really afford it all...well you just got to pay for part of his house! And if the market goes back up, he makes a profit!
Ain’t seen nothing yet.
Just wait until the banking system gets nationalized.
Well, seems I should stop paying my mortgage so I can get some of the principle written down, too. You bet your sweet ass that saving $100+K is worth a lousy credit rating.
This is not like any investment in speculation in a commodity that failed...The difference here is this has been the driving force of our economy. Arizona just like Floriduh, Nevada and California have been robust in the Real Estate economy that has now gone bust. It affects all of us. You can argue that it’s a good thing to let it go or you can see that it affects the entire nation in all aspects of our economy...Do I think bailing out this industry will help..I doubt it..Do I think it will be our down fall..Absolutely!
uh, we have been on that since GWB...
I would be for public hangings starting with Henry Paulson..And then GWB for being so stupid for not standing against it.
Start wit the clinton administration for demanding that the banks make loans to people that have no right ever getting one.
If they hadn’t removed the requirement that you couldn’t get a home loan without a 20% minimum down payment we wouldn’t be in this mess.
Not only that, but if I were a lending institution, I'd be leary of lending money in the future, because it seems the rules of the contract can be changed to suit the borrower.
Why, I'd want to charge more interest because of that additional risk.
That means higher mortgage payments for future borrowers, which will drive down the price of housing further.
No free lunch.
” I told her that if she is 24 hours late in my money that she would be on the street in 21 days “
You had better hope the FREDDIE and FANNIE mortgage foreclosure sale and eviction moratorium is not extended to ALL mortgages. Its set to expire this Friday but I would not be surprised at all to a much broader moratorium enacted of perhaps 90 to 180 days on all mortgages.
That might be some of the details not yet announced..
“I hold mortgages here in 5 properties. One of my tenants said “ you can’t foreclose now that Obama be President”
LOL!! O won’t save your arse. Get packin’!!
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