Housing doom and gloom - ENOUGH already !!
- Thread starter Joab
- Start date
Quote from gnome:
Yes I am very pessimistic, and it's got nothing to do with trading the markets nor democracy... and not even Bush particularly (though I think history will regard him as one of the WORST presidents of all time).
I'm pessimistic because I've studied world financial history and see America heading down the same path as other failed republics.. in spite of our Founding Fathers attempts to prevent exactly what we have now... a greedy, overbearing central government and a central bank. Both are bad, BAD news.
My professional training was as a biologist and chemist. Therefore, I "logically fear for the planet and the future of the USA as a civilization."
ET is a small forum in which I've tried to WAKE YOUSE GUYS UP! Gotta say, not working too well on balance...
Doom and Gloom to the max! Zoloft kid!
Here is a prime example of a depressed , despondent, low self esteemed, doom and gloom ET poster. Sky is falling, end of the world, life is not worth living, things are bad, economy is in a recession etc etc.
IF you were "gaming the real estate markets " now you need 10% down + closing costs to get in your " bargain" dream house.
No kidding ! Do you have 10% down?
If not you will be washing clothes with other losers at the laundromat.
Its the real estate BLOGGERS that have spread this doom and gloom. They outnumber any group.
There are 100s for these negative websites and blog gs run by people who have never bought a home and living in a van with a computer! I caught one guy on Yahoo.com a freelance Journalist and he was living in a van and decrying home purchases and how real estate is a bad investment!
This was an eye opener to me. Its these have-nots and people who can't buy a home sending massive depressive messages across the board.
the doom and gloom is just getting started .....we have a long way to go ....and their will not be any light at the end of this tunnel for a long long time
in real estate the money was made by the sellers ....the smart sellers ....not the buyers who were left with empty pockets
in real estate the money was made by the sellers ....the smart sellers ....not the buyers who were left with empty pockets
There may be 20K houses ( which not a accurate figure) available. But what you do not understand, you cannot secure financing without 10% down payment+ closing costs. Now you have to come with that number. Suppose a 3 bed room 2 ba is for sale at $500,000 you will need $50,000 + 3% closing costs to swing the transaction. Besides you need good credit something around 700 fico scores with no bankruptcies and repos and wild credit or no credit.
How do I know this? You have to guess...
The post itself is very gloomy.
There will not be any light at the end of the tunnel? Do you have a grasp on reality? Very negative and dislocating statement. This is what I am seeing all the time. Lots of doom and gloom around this time of the year.
Real Estate is a cyclical industry. It always comes back its like a wave. We have already been in it 2.6 years.
Wow...you and I are going to have to agree on something.
What the hell has this world come to?
The cycles are so long that most people forget it's a cyclical market.