Are you a proud homeowner?

Quote from doginponyshow:

So you are banking 500k gains every two years on your real estate. Get off the internet and count your money idiot. Most people don't make that on a home in 10 years. I know, I know you are not most people but a multi millionaire living the good life.
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I live a very good life, this post is coming from my Cashmere gold granite counter tops in my kitchen. I donot worry about my neighbors and they donot worry about me. All I see is wrought Iron gates and fenced yards and I donot know who lives behind those tall hedges.

Besides I trade options every day from the luxury of several rooms and make consistent 5-9% returns every month including this month. I am already up 9% this expiration Friday.

I have plenty of time, I take afternoons naps and exercise my abs and drink a little red wine and eat dark chocolates after a nice healthy lunch.
 
Quote from day7793:

I live a very good life, this post is coming from my Cashmere gold granite counter tops in my kitchen.
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You sure do like to talk about your riches. I sincerely hope you live a short life and die a painful death on your expensive kitchen floor. You are true scum.
 
Quote from doginponyshow:

You sure do like to talk about your riches. I sincerely hope you live a short life and die a painful death on your expensive kitchen floor. You are true scum.
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Such angry outbursts during Christmas times? TSk TSK TSK.. I am sorry to see you burst your veins with that post of yours. How am I a scum? Because I am more successful than you are?

Where do you live? One bed room rented apartment above Uncle Joes garage? Do you park your 1988 Ford wagon on the street or in a carport? What happened to you kids? They play ball on the streets and you flag down cars for them ?
 
Quote from jackherman59:

In neighborhoods all over the nation, "for sale" signs have been sitting around for years. Homes have gone unsold and prices are acelerating to the downside in an obvious "bear market".

Can you sit there and still say that you are a "proud homeowner" with your house rapidly depreciating like a tech stock from 2000? Unlike the tech stocks of 2000, though, you cant just jump on Ameritrade to "cash out". It takes months or years to sell a house now and all that time you have to pay taxes, fees and watch the neighborhood kids vandalize your mailbox.

The "for sale" signs seem to be part of the landscape of America and there is still that army of "proud homeowners"....
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The problem with this country is that the consumer is capable of stop spending or buying and when he does that everything circles down the turdbowl. When the consumers stopped buying real estate 2005, they were scared, they got greedy, they became a speculators, hoping to cash in at lower prices and killed their own American dreams in the process!

Now an average consumer cannot but a home. He won't qualify for a 100% loan since there are none. People with credit problem are going to rent and people with good credit may get another chance. When that happens the real estate prices stagnate like they did last 2 years. Nationally the prices have come down just 4.5 % and not much, but now the average greedy joe is out of luck and have to rent while his kids play ball on the streets and they can't have a puppy or a kitten this year. Serves these morons right.

Lets see how long you can hold that need of housing in your belly. People have jobs and while they can pay their mortgages they dont have to sell you at lower prices. As long as the mortgages are met, people will not sell at lower prices for various reasons, they too become speculators hoping for better prices in the future.

So it has become a game of chicken , a game of wait and see attitudes. Lets see how long this will last. This is not 1992-1997 when we lost jobs and people couldn't pay mortgages and real estate prices plummeted.
 
Quote from day7793:

Negativity is coming from you not from me. I have always held real estate in high esteem and its the best investment out there while providing a nice shelter and a massive tax write off. There is no such thing in a securities market that will give you $500,000 tax free rides on gains every 2 years.

You don't know what I own and what I do, so your assumptions are an erratic and irresponsible figment of your beaten down imagination. Let me just clarify something to you:

For starters I live in a Million dollar home with lots of land and plush comforts and I am typing this post from my granite countertops made from Cashmere Gold . I am sitting in bright sunshine with a view of green trees and pleasant vistas. There are 14 mature trees on this property alone. Not a soul around not a single noise while the music plays on the piped channels.

What are you doing today ? Washing your car ( your only asset) outside your tenant parking structure while children are playing and loud noises coming from neighbors funky party ? You wish you killed yourself and not have to deal with that abject reality? Wish you had roof of your own. Wish you could have complete privacy and wish you could shelter all your income legally.
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Dude, relax!!!

I dont even know what you've posted. I was talking to the Jackoff guy who started this thread. Geez.
 
Quote from jackherman59:

Oh you homeowners! Trying to justify your home's existence and still trying to tell us your home is worth such and such...shame on you, shame on you. Your home is not worth 700k anymore, thats all a pipe dream. Thats just like imagining your old tech stocks are still worth 1000 bucks a share.

Now Countrywide Financial shares is costing a little more then a meal at McDonalds, are you still confident? What say you? Countrywide will go out of business, close its doors, bankrupt, broke and then what will happen next? What will happen when that XHB falls to zero?

I imagine a post-crash depression era scene where folks are burning their stocks in the street but this time it will be the titles to houses as they are worth little more then the Iraqi Dinar.

The bankruptcy filings for these home and financial companies is just a heartbeat away. The chaos, the mayhem and watching as the price of your house falls like a tech stock from the year 2000.

Enjoy your Christmas homeowners and know this. Your house is no longer an investment, but just another depreciating asset that you own. After Christmas, comes the real deal, the mayhem, just like 2001 where the shares of tech stock burn in the streets, but this time it will be shares of homebuilders and financial companies and down comes housing prices! Down comes housing prices!!!
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You really are an idiot. Tech bubble burst and life wet on. You do not likely have the intelligence to hedge against anything as you likely understand nothing. Go spend some time with your family if they haven't shunned you because of your shitbag attitude.

Merry Christmas from my beautiful (5th) home. Made possible in part through profits of the first 4.
 
Quote from Thermactor:

don't put her in a position to wreck you on the rocks if the relationship sours.
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When you own real estate be very careful of gold diggers and other parasites. They can start putting leins and taking you to court. Have a pre-nup drawn up before you tie that piece of real estate with your romantic interest.

Real estate is a sitting duck in a lawsuit. Protect it.
 
Now that loans are tied to income, I suspect that prices will return to year 2000-2001 levels when prices were tied to income.

for instance in North County san diego - a 4 bedroom home in a good school district will cost you 700 to 900 thousand.

You have to have 200 in cash and make about 200 thou a year.

How are all of the homes for sale - and all the homes owned by banks but not for sale going to sell at prices which were set when loans were not tied to income.

I am a soon to be renter as I sold my last house at a loss on Dec. 10. ( i was offered 235 thou more for it 18 mos ago but my wife would not take it.).

I have been looking to buy or rent in North county san Diego. I used to own in LaCosta Valley. Rents are going up because so many have lost their homes. And so many are refusing to buy. In sept and october median prices dropped 12% combined. Price per square foot is collapsing. The builders have really dropped their prices. The inventory is amazing but it is no where near florida levels. I predict a lot more down side.

When the ratio between inventory and sales starts to make a meaningful improvement - I will look to buy. Right now the ratio is getting dangerously close to free fall levels.
 
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