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Author Topic: Will "Housing bust" be anything like "Dot-com" bust?  (Read 1099 times)
240 is Back
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« on: August 14, 2007, 11:34:02 AM »

It's happening.  Every analyst with a home is in denial.  We renters can be honest.  Most American homes are overvalued.  The market correction is gonna hurt.  Will it be as big and memorable as the dot-com collapse?

or will it be bigger?  Most folks didn't own Lucent.  Most folks do own a house.
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trab
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« Reply #1 on: August 14, 2007, 01:45:28 PM »

Well mines paid for, with the killing I made off the other Home/ Land at the peak of the bubble (Lucky Wink)
But I doubt I could sell it for what I paid now, or even in 5yrs from now IMO.
All Hinges on Iraq IMO.

240 you should put your money where your mouth is and short the DOW Grin!
Take out a cash advance on your credit cards, and leverage it to the max!! Ha Russian Roulette.

PPL are losing homes, and I think a lot more will.
No Greenspan put to save them. No can do.
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« Reply #2 on: August 14, 2007, 02:49:52 PM »

It's going to be bad. With Subprime lenders going under, there is a need again for FHA loans, but they are slow as hell, filled with unneeded paperwork and not very well known to new home buyers. If FHA loans can be revamped a bit, then it can help the problem. But either way it is going to get really bad. ARMS are adjusting everyday and people owe more than the house is worth, so they are going from a 6% or so, to  15% in some cases with absolutely nothing they can do about it. That means more and more foreclosures. It's a great time to buy though, and even invest in Apartments or other rental properties, people gotta live somewhere.
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« Reply #3 on: August 14, 2007, 09:26:26 PM »

Luckily, I am looking into buying a condo very soon. It would be nice if I could catch the housing market at its lowest point Grin
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« Reply #4 on: August 15, 2007, 07:54:26 AM »

interesting thoughts.
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« Reply #5 on: August 15, 2007, 10:58:48 AM »

It's going to be worse.  It'll be great for those with large cash reserves... they'll be able to pick up great deals
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« Reply #6 on: August 15, 2007, 01:15:47 PM »

It's going to be worse.  It'll be great for those with large cash reserves... they'll be able to pick up great deals

Prolly what a lot of rich guys were thinkin in 1928.....

It'll happen again some day. Nobody knows when. Just like a earthquake.
Domino effect of phony paper asset numbers all Revaluated in a instant...

After the Asian meltdown, I walked thru streets full of vacant bank owned luxury homes falling apart from neglect.
Squatters fires smoke rising out of Dead-in-the-water HighRise Skeletons.
Still there today...
America aint as special as she thinks..  Don't get in too deep is Financial #1Rule.
That rule is considered old fashioned by todays money managers.
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