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06-09-2014, 09:04 AM
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Jigsawed
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Join Date: May 2009
Posts: 10,580
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Quote:
Originally Posted by Tom Joad
I'm seeing it here in the real estate market.
The market is in the tank, but the majority of sales in this area are going to cash buyers. There are people out there with big wads of cash buying them up. My house is going to a cash buyer. For $15,000 less than I paid for it 10 years ago, and I think I did well. The Real Estate Agent I used told me that every house sale he has had so far this year has been cash.
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There is cash coming from China, Russia and South America for Real Estate.
The Chinese have a new term "Naked Chinese".
http://www.miamiherald.com/2014/06/0...-who-sent.html
Last edited by Dondilion; 06-09-2014 at 09:07 AM.
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06-12-2014, 04:16 PM
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Senior Member
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Join Date: Oct 2013
Posts: 3,554
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Quote:
Originally Posted by Tom Joad
I'm seeing it here in the real estate market.
The market is in the tank, but the majority of sales in this area are going to cash buyers. There are people out there with big wads of cash buying them up. My house is going to a cash buyer. For $15,000 less than I paid for it 10 years ago, and I think I did well. The Real Estate Agent I used told me that every house sale he has had so far this year has been cash.
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I see the future, where the united states is one big Potters field...trashy shacks rented out to desperate poor people at high rates so they can never ever get ahead, never have any hope.....
http://upload.wikimedia.org/wikipedi...Mr._Potter.jpg
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06-07-2014, 12:53 PM
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Area Man
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Join Date: Oct 2009
Location: The Swamp
Posts: 27,407
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We now have more people employed tha before the recession but mostly in poor paying jobs. We added around 2 million more people to the working age in that time also. So persentage wise we are down.
Wall St. looks to either break 17,000 or go into the toilet.Everybody chears these records, the fact of inflation needs to weigh in and population growth. Plus the QE suggar rush on the market, Just because there is more dollars in serculation doesn't mean there is any more value/ purchasing power,
The Fed is holding interest rates artificiall low - hurting senior citizens the most. No hurting everyone that hold fiat currency. And earns it for that matter when your wage increas is based on inflation. When interest rates or lower than inflation the banks are robbing you.
Blah, Blah, Blah...................
Nope, guess again.
Dave
__________________
"When the lie is so big and the fog so thick, the Republican trick can play out again....."-------Frank Zappa
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06-09-2014, 09:11 AM
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Jigsawed
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Join Date: May 2009
Posts: 10,580
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Quote:
Originally Posted by BlueStreak
We now have more people employed tha before the recession but mostly in poor paying jobs. We added around 2 million more people to the working age in that time also. So persentage wise we are down.
Wall St. looks to either break 17,000 or go into the toilet.Everybody chears these records, the fact of inflation needs to weigh in and population growth. Plus the QE suggar rush on the market, Just because there is more dollars in serculation doesn't mean there is any more value/ purchasing power,
The Fed is holding interest rates artificiall low - hurting senior citizens the most. No hurting everyone that hold fiat currency. And earns it for that matter when your wage increas is based on inflation. When interest rates or lower than inflation the banks are robbing you.
Blah, Blah, Blah...................
Nope, guess again.
Dave
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Can you please enlighten us.
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06-10-2014, 06:54 AM
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Resident octogenarian
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Join Date: May 2009
Location: Maryland
Posts: 20,860
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Let's face it folks the design of the mortgage system here was just begging for someone to do what was done. it invited people to game the system.
__________________
Great minds discuss ideas; Average minds discuss events; Small minds discuss people.
Eleanor Roosevelt
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06-10-2014, 08:42 AM
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Senior Member
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Join Date: Mar 2013
Posts: 756
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Quote:
Originally Posted by merrylander
Let's face it folks the design of the mortgage system here was just begging for someone to do what was done. it invited people to game the system.
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Exactly people saw home prices rising year after year and thought they could buy and sell after a few years for big profits. When that bubble burst those same people were left with a steaming pile they couldn't afford.
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06-10-2014, 08:59 AM
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Resident octogenarian
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Join Date: May 2009
Location: Maryland
Posts: 20,860
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Quote:
Originally Posted by MikeG22
Exactly people saw home prices rising year after year and thought they could buy and sell after a few years for big profits. When that bubble burst those same people were left with a steaming pile they couldn't afford.
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It was not only that Mike, why did we need mortgage finders, points, title companies, there were so many middlemen that got a piece of the action but had no responsibilities. The the practice of bundling mortgages as securities, who was the barking idiot who dreamed up that scam. Then they came up with derivatives - whoo boy.
__________________
Great minds discuss ideas; Average minds discuss events; Small minds discuss people.
Eleanor Roosevelt
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06-10-2014, 08:45 AM
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Senior Member
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Join Date: Mar 2013
Posts: 756
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Quote:
Originally Posted by BlueStreak
We now have more people employed tha before the recession but mostly in poor paying jobs. We added around 2 million more people to the working age in that time also. So persentage wise we are down.
Dave
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Problem is the jobs look good percent wise but the income level of those jobs added have dropped from what they were before the unemployment surge. Jobs not paying a living wage are almost as bad as no job.
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06-10-2014, 09:34 AM
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Senior Member
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Join Date: Mar 2013
Posts: 756
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Rob, I dealt with all of it when I bought my first home in 2007. They told me I was approved to $425k for a mortgage. Based on what I make that is insanity. The whole home buying business makes me sick. They are glorified used car dealers.
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