RLLD 4,283 Posted October 10, 2007 Housing was the major weakness in the U.S. economy and the subprime crisis – which roiled global markets in late July and August – was far from over, although its shock value was wearing off, David Wyss, S&P's chief economist, said in Mumbai. “We underestimated the extent to which fraud was occurring in the industry,” he said. “It looks, based on some surveys that had been done, the extent of frauds increased sharply in 2006.” S&P said the U.S. Federal Reserve had estimated that subprime losses could reach $150 billion, and Wyss said that would feed through to unemployment and remain a brake on growth. “We think in the United States the housing market is not going to bottom until winter. We think the losses in these sectors won't really hit their peak until 2009,” Wyss said. “We are not halfway through with this crisis yet.” Rink Share this post Link to post Share on other sites
Franknbeans 46 Posted October 10, 2007 how do you get the cum stains off your monitor? Share this post Link to post Share on other sites
RLLD 4,283 Posted October 10, 2007 I leave them, I wear them as a badge of honor Share this post Link to post Share on other sites
Snoopy1 0 Posted October 10, 2007 More is??????? That doesn't sound right. Share this post Link to post Share on other sites
surferskin 31 Posted October 10, 2007 RLLD is just a shell of his former self. Share this post Link to post Share on other sites
SUXBNME 1,652 Posted October 10, 2007 Why all the hate for houses? Can you not afford one? Do they scare you? Share this post Link to post Share on other sites
surferskin 31 Posted October 10, 2007 Why all the hate for houses? Can you not afford one? Do they scare you? once upon a time, RLLD was suckered into selling his house well below it's market value. ever since then he's been a miserable ######, that posts like a broken record. Share this post Link to post Share on other sites
RLLD 4,283 Posted October 10, 2007 Why all the hate for houses? Can you not afford one? Do they scare you? Once mine is built I will be all set to answer. I am going to keep a picture record of the progression. I managed to get the department's of permits under investigation at this point with the documented evidence of their misdeeds, which should be fun. For now, I rather enjoy pointing out the fraud and hope that all those who were participants are hurt to the maximum possible degree by the monster they created. And when it all falls out it will be fun to watch them all squirm under the weight of their own immoral creation. Share this post Link to post Share on other sites
RLLD 4,283 Posted October 10, 2007 I am p!ssed that I am an ignorant fock who got caught up in this and I might lose my house because I of my own stupidity Fixed Share this post Link to post Share on other sites
surferskin 31 Posted October 10, 2007 Fixed making 60k on my condo and then rolling that into a bigger house with 5.5 30 year fixed is really going to come back to bite me one day. like when all the fire fighters, teachers and policemen have to move because of housing prices. Share this post Link to post Share on other sites
RLLD 4,283 Posted October 10, 2007 making 60k on my condo and then rolling that into a bigger house with 5.5 30 year fixed is really going to come back to bite me one day. like when all the fire fighters, teachers and policemen have to move because of housing prices. Condo.... ...... Share this post Link to post Share on other sites
TimmySmith 2,783 Posted October 10, 2007 I managed to get the department's of permits under investigation at this point with the documented evidence of their misdeeds, which should be fun. For now, I rather enjoy pointing out the fraud and hope that all those who were participants are hurt to the maximum possible degree by the monster they created. And when it all falls out it will be fun to watch them all squirm under the weight of their own immoral creation. By participants, you mean everybody who bought, sold or built a house in the last 5 years. Also, you may not wish to do too much rabble rousing among the permitting department. These people have memories. If you do actually build your house, it is nice to maintain solid relationships. Share this post Link to post Share on other sites
surferskin 31 Posted October 10, 2007 Condo.... ...... condos are funny? hey, i was 25, single and buying my first place with no roommates...no yard work, etc. i don't regret it. Share this post Link to post Share on other sites
edjr 7,172 Posted October 10, 2007 Condo.... ...... I might have to do the same thing. Share this post Link to post Share on other sites
itsjjw 1 Posted October 10, 2007 Once mine is built I will be all set to answer. I am going to keep a picture record of the progression. I managed to get the department's of permits under investigation at this point with the documented evidence of their misdeeds, which should be fun. For now, I rather enjoy pointing out the fraud and hope that all those who were participants are hurt to the maximum possible degree by the monster they created. And when it all falls out it will be fun to watch them all squirm under the weight of their own immoral creation. Are you feeling ok RLLD? I mean its nice that you understand all of the underlying principles around this, and you have every right to crow about being right. You're predictions that things are not ready to bottom out and that the industry is trying to soft-soap everything is right on the mark. You have every right to be proud and post every word of it. But this sounded downright mean and spiteful. That is not your normal character. Is everything ok? Share this post Link to post Share on other sites
RLLD 4,283 Posted October 10, 2007 condos are funny? hey, i was 25, single and buying my first place with no roommates...no yard work, etc. i don't regret it. Oh no....condo's were solid, about a year ago...now....not so much.... I actually bought one when I was 22, and I loved it.....people had building parties, everyone was pretty tight; the pool, no grass cutting....it was all good.... But I would not want to be trying to sell one right now Share this post Link to post Share on other sites
surferskin 31 Posted October 10, 2007 Oh no....condo's were solid, about a year ago...now....not so much.... I actually bought one when I was 22, and I loved it.....people had building parties, everyone was pretty tight; the pool, no grass cutting....it was all good.... But I would not want to be trying to sell one right now i wouldn't want to sell anything right now. i sold that thing 2 years ago. Share this post Link to post Share on other sites
RLLD 4,283 Posted October 10, 2007 Are you feeling ok RLLD? I mean its nice that you understand all of the underlying principles around this, and you have every right to crow about being right. You're predictions that things are not ready to bottom out and that the industry is trying to soft-soap everything is right on the mark. You have every right to be proud and post every word of it. But this sounded downright mean and spiteful. That is not your normal character. Is everything ok? No, you are likely on point with this. But keep in mind that last year when I was deep into my research on this topic for my MBA thesis I started making some noise about it, only to have people give me a rash of crap. Even to this day you have assmegs railing against the information in such a way as to make me want to enjoy it all the more. Perhaps I derive a little bit too much pleasure out of their misfortune, but due to they way people have talked to me about it I feel obliged to get a little nasty myself. More important than that, I know what this is eventaully going to do to our economy; I know where prices for every day needs are heading, and what this will eventually do to my investments, and that creates some anger as well. Especially when I hear participants in this fraud lament thier plight as if they are victims, when in reality they are enablers. Share this post Link to post Share on other sites
Strike 6,207 Posted October 10, 2007 I might have to do the same thing. It will probably have a dishwasher though Share this post Link to post Share on other sites
Strike 6,207 Posted October 10, 2007 No, you are likely on point with this. But keep in mind that last year when I was deep into my research on this topic for my MBA thesis I started making some noise about it, only to have people give me a rash of crap. Even to this day you have assmegs railing against the information in such a way as to make me want to enjoy it all the more. Perhaps I derive a little bit too much pleasure out of their misfortune, but due to they way people have talked to me about it I feel obliged to get a little nasty myself. More important than that, I know what this is eventaully going to do to our economy; I know where prices for every day needs are heading, and what this will eventually do to my investments, and that creates some anger as well. Especially when I hear participants in this fraud lament thier plight as if they are victims, when in reality they are enablers. I "enabled" myself to make a crapload of money off that fiasco. Just don't report me. I don't want to get into trouble Share this post Link to post Share on other sites
itsjjw 1 Posted October 10, 2007 No, you are likely on point with this. But keep in mind that last year when I was deep into my research on this topic for my MBA thesis I started making some noise about it, only to have people give me a rash of crap. Even to this day you have assmegs railing against the information in such a way as to make me want to enjoy it all the more. Perhaps I derive a little bit too much pleasure out of their misfortune, but due to they way people have talked to me about it I feel obliged to get a little nasty myself. More important than that, I know what this is eventaully going to do to our economy; I know where prices for every day needs are heading, and what this will eventually do to my investments, and that creates some anger as well. Especially when I hear participants in this fraud lament thier plight as if they are victims, when in reality they are enablers. They are immature little boys whose opinion doesn't matter. Petty and insignificant. Rude because they hide behind a keyboard. I am sure they would not have the balls to be that way to your face. Share this post Link to post Share on other sites
Strike 6,207 Posted October 10, 2007 They are immature little boys whose opinion doesn't matter. Petty and insignificant. Rude because they hide behind a keyboard. I am sure they would not have the balls to be that way to your face. So, do you own a home or do you just sleep at the house of whatever nameless guy you're banging at any given time? Share this post Link to post Share on other sites
itsjjw 1 Posted October 10, 2007 So, do you own a home or do you just sleep at the house of whatever nameless guy you're banging at any given time? I have an apt with my best friend. Share this post Link to post Share on other sites
Mungwater 601 Posted October 10, 2007 I have an apt with my best friend. Your vibrator? Share this post Link to post Share on other sites
itsjjw 1 Posted October 11, 2007 Your vibrator? My bong. Share this post Link to post Share on other sites
SUXBNME 1,652 Posted October 11, 2007 My bong. Even though I personally don't participate in the chronic, I'm starting to grow fond of itsjjw as a poster Share this post Link to post Share on other sites
santa*69 0 Posted October 11, 2007 RLLD I like that you are staying on top of this. I keep telling everybody I know to get to quality. I have moved almost all of my money to BRK-B and it just keeps going up and up. I think this is being done behind the scene and you really do not hear much. Many people are dumping into Berkshire. Up over 26% this past year. When you have these types of situations and you have this huge elephant hanging over the market always run to Berkshire. I keep about 50% of my money in it at all times but now I am almost 100%. It is its own market and is well diversified to weather any storm. I graduated in Finance in 1991. Modigliani and Miller was the book of choice back then. If you keep your mind on the target and steady invest in quality you can get through all of this and have plenty of money for your house. Good luck! Share this post Link to post Share on other sites
Angry White Male 0 Posted October 11, 2007 So is now a good time to buy? Specifically from those dumbass teachers, police officers and firefighters that bought more house than they can afford and are now forced to sell/foreclose? Suckers. Share this post Link to post Share on other sites
