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Is this really true? Can someone else confirm that it is indeed typical in America that the borrower can just give his house to the bank and escape his mortgage without a loss? THEN it would be entirely understandable that people want to take 100% interest-only loans for housing speculation.

Bill, that was an excellent letter. I mostly agree. Whenever extreme terms, such as "currency war", are used, the market in question is close to a turning point. Also the recent Economist cover was an excellent buy signal for the dollar. And it's not only the currency market that's near an...

Most of the year, yes. Right now the weather is terrible. But summer and winter can be beautiful, and the former also quite warm. See yourself: http://taivasalla.net/index_eng.html US, though, was terribly hot even in October!

Bill, I finally had to search for Santa Barbara in Mapquest. Seems that I was driving through there last year. Don't remember the girls, but the landscape was beautiful indeed. Anyway, there are plenty of good-looking women all over the world. Especially here in Finland. :) Mike, you're...

Just try, then we'll see. It's all very entertaining anyway. Ha! I can believe that. So it's the BIG EGO that wins over rationality, once again. The female vanity seems to be the biggest evil. Keep em under control, and never let em rule... Funny indeed! :D

Uh, TWO MILLION for a median house. Definitely and absolutely insane. In the most expensive areas over here prices are a third of that. Even that is crazy. Mike, have you asked yourself why are you so obsessed with investing in Californian real estate? Why don't you just cash your money and...

First, I too want to thank everybody who's participating in this fascinating discussion. It's always very interesting to observe the prevailing psychology at the top of a bubble. Anyone with more than 66% of the current value of his house in debt and no other assets would be bankrupt if the...

Ah, those famous last words! "House prices never drop." That's what people also here in Scandinavia thought when we had our bubble 15yrs ago. In fact, that is what people ALWAYS think at the top. Isn't it funny? I don't know where you are located, but average home prices of over $1m...

The latest Economist writes about the housing bubble: Just a couple of questions: 1) Has anybody EVER seen a bubble deflate calmly? (re: the dreams about flat house prices) 2) How many Americans would go bankrupt if house prices were to decline by a third? (as they have in Japan)

Oh well, sometimes yes. But you'll get used to them. You have to. :D

Screwey? Why?? I love to hear this!! As to real estate, get some lakeside property in Finland. There's nothing more beautiful. :D

Ah, what a wonderful article! It's a great pleasure to learn the wisdom of the message board gurus!!

11 am. And it will shoot up! :D