Real estate horror stories

Quote from day7793:

IF you hold that house till this cycle completes when these morons come back to their senses that house would be worth $800,000 and you can than sell into a stong market.

You are not pragmatic. You don't have a roof of your own. You donot have shelter from Fed and state taxes, you have nothing to show, excpet those clothes on your back and a car that you drive [/QUOTE

I missed your post. You know the saying when you assume............... I do have a nice house in the burbs, but I bought at a relative low price at the time. And I am debt free, except for my mortgage.

You would do better to read a someones' posts before making assumptions. I know alot more about taxes than most on this forum, I trade under an LLC just for tax reasons.
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Quote from gnome:

If you adjusted it for real inflation, you wouldn't feel all that proud.
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Seeing as he probably borrowed most of the purchase price, in 1988 dollars, he should feel damned good.
 
Quote from gnome:

Even that play would be premature, I think. We might see RE values decline 30% or more... Sure Gummint would try to stop it short of that, but maybe they can't.
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If you see RE values drop 30% or more, the house you're in now will drop by that much as well, so it really won't make much of a difference to you. Unless you're currently renting, not going to sell your current residence when you buy a new one, or looking to upgrade substantially, there won't be much of a difference to you since you're staying in the same general market, right?
 
Harry Newton writes:
Friends in real estate are struggling with the virtual shutdown of bank lending. All are mulling the idea of using investor monies instead of bank monies. Now is the time to tell your local successful real estate developer of your interest. Don't dismiss this idea because "all real estate is in the shitter." It's not. Real estate is two things: 1. The price you buy it. 2. The place it is, i.e. location, location, location.
 
Quote from gnome:

Oh pishawww... I could pay Millions in cash.. just don't want to buy the top of the market...
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They way you sound you have never owned a house. You are long ways from home......
 
Quote from artis74:

"You are not pragmatic. You don't have a roof of your own. You donot have shelter from Fed and state taxes, you have nothing to show, excpet those clothes on your back and a car that you drive"

I disagree he clearly is very successful. He drives an expensive car and has no house. This is a good b/ you can sleep in your car but you cant drive your house!!
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I bet he washes his car every Saturday even when it rains. He prides himself on it while he is crammed in a one bed room apartment with 3 adults and 2 kids. They look out the window with a view of garbage dumpsters!
 
Quote from day7793:

They way you sound you have never owned a house. You are long ways from home......
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That's what you read? That's your perception?

Take my advice... BURN YOUR MONEY AND STAND CLOSE... at least you'll get some heat out of it.

You give the impression of not "having the right stuff" to succeed in the markets.
 
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