OT: Call your agent NOW!
billb
----------
Everybody who doesn't buy, now, will be priced out forever. Anybody
who does buy will be rewarded with a lifetime of riches, as their
property will continue its 25% yearly price increase.
Renters, and anybody born in a future generation, will not be able to
afford a $5,000,000 starter home in 15 years. They will live in tent
cities, and hondas.
This asset bubble is different than all of the others - it will never
slow down, or pop. The gains are permanent.
(I found the above amusing)
--
billb
Since time immemorial, the powerful have used religion to distract
the oppressed, to encourage them to focus on the next world so that
they will acquiesce to the injustices of this world. If you would
have your slaves remain docile, teach them hymns.
Generic
"billb" <sevenou...@yahoo.com> wrote in message
news:cvrd3e$b9s$1...@news.chatlink.com...
> ---------------------------------------------------------------------
> ----------
>
> Everybody who doesn't buy, now, will be priced out forever. Anybody
> who does buy will be rewarded with a lifetime of riches, as their
> property will continue its 25% yearly price increase.
>
> Renters, and anybody born in a future generation, will not be able to
> afford a $5,000,000 starter home in 15 years. They will live in tent
> cities, and hondas.
>
>
> This asset bubble is different than all of the others - it will never
> slow down, or pop. The gains are permanent.
>
> (I found the above amusing)
> --
There are plenty of people in even more expensive California who say it with
a straight face. "There's a shortage of housing in CA!" Yes, but this has
been artificially created by anti-growth NIMBYs, and that wheel will turn
over time. People will relocate and developers will grease the right palms.
Banks have played along by created silly 0% down, 0% equity financing
schemes so buyers "qualify" well above what they can afford. Banks get pure
interest (a 'purchase' is more like a lease) while buyers get pure risk.
First people were seduced by easy to use credit cards with absurd interest,
then they got into upside down auto loans, now it's housing.
It's mimicking Japan's stock and housing bubble of the 80s (which crashed in
the 90s). Japan created inheritable mortgages (e.g. 80-100 years) at that
time...
-John
Don Strevel
right? WOW! You would never own your hom and your kids could pay it off!!
No one would own thier home!!
--
+++++++++++++++++++++++++
Don Strevel in Las Vegas
http://www.mysecretvegas.com
in...@mysecretvegas.com
"Generic" <gen...@scientist.com> wrote in message
news:422137af$0$97746$a32e...@news.nntpservers.com...
Generic
it off:
http://www.7-secrets.co.uk/SevenSecrets/FIQ/FIQ-Test.htm
http://danieldrezner.com/mt/mt-comments.cgi?entry_id=1673
http://www.financialsense.com/Market/willie/2004/1011.html
Our 0% down 0% equity loans are just as risky. Lots of Japanese bankers and
businesses went under when the bubble popped, and still are weak--the
resulting recession lingered for years and years.
-John
"Don Strevel" <dstr...@cox.net> wrote in message
news:u4dUd.111365$mt.71096@fed1read03...
Don Strevel
cannot even think of a word to adeguately describe it!!!
There would be nioincentive to be contracted to a mortgage paymen system
and one address when you could enjoy the freedom to move as you choose under
an apartment lease that, hopefully, lasted only a few decades maybe. There
had to be some great tax advantages to the "Hundred Year Lease" for people
to agree to sign it!!
--
+++++++++++++++++++++++++
Don Strevel in Las Vegas
http://www.mysecretvegas.com
in...@mysecretvegas.com
"Generic" <gen...@scientist.com> wrote in message
news:422178b6$0$57170$a32e...@news.nntpservers.com...
billb
financing
> schemes so buyers "qualify" well above what they can afford
You've nailed it. If you saw the picture I posted the link of last
week, the guy standing next to me also making 5.15 an hour plus tips,
is from china (26), has been here a few years and owns 2 houses. One
he lives in with his pregnant wife and the other is rented by the
room to other recent Chinese immigrants. He owes over $350,000
between the 2. He also has 3 cars and these are all bought with
rented money. He also has a job at Monte Carlo. So he works about
80 hours a week. And there are a great many Chinese doing exactly
the same thing. But it only works so long as the money rent is cheap
(near zero). And cheap money is only possible in the absence of
inflation and that's the "rub." But in the meantime, being new to
this country and not knowing anything of the history, he believes
prices can only go up. So far he's been right.
--
billb
Since time immemorial, the powerful have used religion to distract
the oppressed, to encourage them to focus on the next world so that
they will acquiesce to the injustices of this world. If you would
have your slaves remain docile, teach them hymns.
"Generic" <gen...@scientist.com> wrote in message
news:422137af$0$97746$a32e...@news.nntpservers.com...
>