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Mr. Hysteria isn't worried? Now, I'm worried...

To be blunt, I've got no idea what your point is. That's over 175 properties in one suburb that pay more than $50,000 per year in property taxes. I'm sure that you are right that most of these people have no problem paying them, but you were the guy who doubted the veracity of Trefoil's claim...

I think you should invite these guys to that park behind your house. It really did the trick with that buffoon, Dr Zhivodka.

You seriously doubt this? You could even find these levels of property taxation in select areas of the Midwest where there are probably a few thousand properties that have been assessed over $1,000,000. Here, take a ritzy suburb like Lake Forest, Illinois on the North Shore of Chicago. #50...

Who the hell was Napoleon Dynamite's dad? He lived with a couple of cousins and an aunt. Anyhow, assumptions are educated guesses based on a few decades of market experience. I know the numbers as far as how many make it and after reading so much of your naivete, I'm very confident I have...

I say let the tax die. They've had more than a decade with this thing and if nothing was done with the tax dollars, tough shit. It's basically just another backdoor subsidy for unions anyhow.

lol, too true. 98% of our society are "perma bulls" of some variety.

I just happen to think that he is basically correct in his assessment of most guys on this site. I mean all you did above is tell everybody you went long the lows of 2009 without ever mentioning how many times you probably tried to catch that falling knife in the six months prior. Even...

Hopey has figured that he had the black vote in his back pocket. After all, no matter how badly he was f'ing things up the past 2+ years, the poll numbers reflected a sort of "unconditional love" from this voting block. I suspect that alot of the self-appointed intellectual elite amongst the...

He forgot to mention the 60 other times he went long between the fall of 2008 and march 2009.

By my count, we are on our third engineered asset inflation in the past 12 years. The first time around it was a "win-win" since commodity prices were at rock bottom levels with a very strong dollar. The second time around, it was alot more painful as commodity prices began to really outpace...

Completely agree, the devil is always in the details with this stuff. Property taxes in many locales are a deal breaker, plain and simple. It doesn't even get to the point where the utilities become a concern (which they most certainly are). Upkeep is another big cost. In some regards, I...

That's a major concern. Since a mortgage is really the biggest burden for the wage earner, it creates a great deal of stress, especially at those prices. This globalization of "asset inflation" destroys societies, plain and simple. Obviously, with the ongoing bubble and bust cycles, Canadian...

At this point, I'd argue it's not even about the sale price for alot of these distressed properties. It's more than likely forward looking towards municpal defaults and the potential tax burden (liability) of owning a property in an area where there are tons of foreclosures and a lack of...

This post is the least of his worries. Range Rover (aka47) has been in a losing trade for the past two year ala his "all in" propoganda campaign for Hopey McChange. Meanwhile, his fallback position is always that he is a supporter of Ron Paul (as if this isn't the biggest contradiction in the...

I think that in many markets we simply put in a "bear market bounce" in real estate. I saw a number of high end properties get lifted (most likely due to that 100% bounce in the S&P 500). Have to remember that those million dollar plus properties sat on the market for a long time because the...

Fantastic write-up. I picture Gayfly as a sort of "Les Nesman" from WKRP...the consummate anal retentive geek who harbors alot of passive-aggressiveness. Much of the time it simply manifests itself in his obsessive fixation on grammar and spelling. And yes, he obviously believes that he is...

The demographics argument has always made the most sense to me, as it represents a constant form of buying pressure during peak earnings years. In many ways, I'm always amazed that it was so overlooked... The second part of your hypothesis regarding great deals for the upcoming generations...

It's funny because, like clockwork, just about every single day from early 2009 thru the past few months, S2000 continued his hysterical rants with links to every article highlighting the insanity of bailouts, quant easing etc. Sort of had the tone and emotion of a guy trapped short the entire...

Yes, the upcoming generations are really behind the eight ball. Not only do they have to contend with a terrible job market, crushing student debt but also with some pretty inflated asset prices that will keep them out of the supposed "good inflation" the Fed and its minions always like to take...