Welcome to my nightmare!!!

[cracker]

You have heard my me b#tch about OZ. Here Is some good reading.......
http://www.nytimes.com/2007/12/23/business/23house.html?_r=1

[Executioner]

After reading that it sounds like it's time to start investing in some property:D













The market won't stay that low for long............It's Florida!:cool:

[newoldtech]

Its between Florida and California for the worst real estate market in the country. Personally I think Florida is the worst. It will probably take another 12-18 months for these markets to hit bottom. I figure prices will fall another 25-30 percent. Way too much speculation and bad loans made. Once the prices fall to a more reasonable level and if there aren't any more hurricanes for a while then the market will (slowly) improve.

[whec720]

One word...GREED. The properties are over valued. People take on loans they are borderline to afford because they want the "perfect" home, ie. a home beyond their means. A couple events in life go south and the home gets foreclosed. Like I said....GREED.:cool:

[jmac00]

ya, well i got another bad word for you: RECESSION

http://www.dailyreckoning.us/blog/?p=671

[whec720]

Here is another......DEVALUED.......as in our dollar. I agree. I does not look good for the economy.

[jmac00]

Here is another......DEVALUED.......as in our dollar. I agree. I does not look good for the economy.

I'm going to start asking everyone to pay me in Euro's :D

[whec720]

I'm going to start asking everyone to pay me in Euro's :D

LOL. That's funny and might not be a bad idea.;)

[Ammonianite]

Or maybe the Amero if these idiots actually bring about the "North American Union."

[thoglow]

Its between Florida and California for the worst real estate market in the country. Personally I think Florida is the worst. It will probably take another 12-18 months for these markets to hit bottom. I figure prices will fall another 25-30 percent. Way too much speculation and bad loans made. Once the prices fall to a more reasonable level and if there aren't any more hurricanes for a while then the market will (slowly) improve.


California is neck in neck with Florida.I have been watching houses forclose
all over around here.There are 6 in my neighborhood alone.Don't ask me how but I knew it was going to happen.

[hvacker]

I'm going to start asking everyone to pay me in Euro's :D


I'm hearing this a lot.
The paper a few days ago wrote India is no longer accepting dollars for admission to tourist sites like the Taj mahal and others. They want Euros.

I wonder if Americal Corps are paying Euros for the India call centers payroll?

If so maybe it will be cheaper to bring them home again.

[Wheelbaron]

get our manufacturing and agricultural business back on US soil where it belongs!
:(:(:(

[Workhorse]

You have heard my me b#tch about OZ. Here Is some good reading.......
http://www.nytimes.com/2007/12/23/business/23house.html?_r=1

Same thing here in Collier County. They are laying off county workers and replacing them with county jail inmates.

[gruntly]

The rich will get richer again, like usual. Anyone with cash in the bank will buy real estate, sit on it for a while and make a killing in a couple of years.

I have a few customers high in real-estate with lots of playing cash... I've noticed everyone of them are selling their multi-million dollar homes recently and buying cheaper condos for now, putting everything in storage... they see it coming.

[Dowadudda]

see what coming specifically?

[gruntly]

see what coming specifically?

Many of these people have degrees in business. Our real estate values here are still over-inflated and out of control. Any form of a dip in the economy will send us into a recession. Uppity gas, greed & insurance prices will ensure that. When the rich guys sense this, liquidating now allows them to have hourds of cash on hand when property prices crash later (no point in trying to sell your huge property in a low market). They then buy up the real estate for 50 cents on the dollar and when the economy upswings in a couple of years, they have all this real estate they can double their money on.

The point is to stay fluid enough to take advantage of the times. If they stay fluid enough, they don't have to worry about skyrocketting interest/mortgage rates either.

They smell consumer fear, as that other thead said, "like a lingering old fart"; like we can smell the difference between an electric motor burn and a refrigerant leak or oil soot when you walk through a customer's door. Many people can't smell the difference between a gas leak and a dry trap. The point is some of them actually know what's going on in their own trade.