Good thread.
On the surface, the 1% mortgage seems like a good solution, but I agree with the poster who argued that it artificially keeps RE prices too high.
I think we all agree that what happened with RE from 2000 until 2006 was completely ridiculous.
The system needs to clean itself...
Which is exactly why the average guy should just buy an index tracking fund instead of paying some b.s. mutual fund company to take 2% a year and underperform.
The Democrats forced Fannie and Freddie to give out mortgages to people that they knew wouldn't be able to pay them off.
That combined with the greed/stupidity of the American populace got the snowball rolling downhill.
Obama picked Geithner to be Secretary of Treasury and the fucker didn't even pay his taxes.
Obama also had a number of other appointees with tax issues.
Two great water plays with good dividends, WTR and AWK.
Both held up extremely well during the market drubbing (AWK just recently started to take a hit).
Also a big fan of Unilever (UL or UN whichever you prefer), Clorox (CLX), and Diageo (DEO) in the staples sector. Nice dividends and...
Have you considered buying $11,250 dollars worth of a handful of financials instead of buying the index?
$1000 worth of
JPM, WFC, C, BAC, GS, USB, MS, HBC, AXP, BK, PRU
So you're saying that even though you have been buying GE all the way down from 26 to 6, you're still net positive on it??
Give me a F-ing break.
I'm sure if GE rallied 50% someohow you would be net positive too.
Typical ET.
Are you also "glad" you bought GE at 26, 24, 20, 18, 16, 14, etc, etc. and all the way down for your long term portfolio?
http://www.elitetrader.com/vb/showthread.php?s=&threadid=130637&perpage=6&pagenumber=1
You're getting destroyed in GE. You need a triple just to break even...