Ouch! Neighbors paid around $800,000 to much for their homes. Pretty bad speculators. I sure hope none are in the financial planning industry, because their foresight sucks. This bubble, which is emphatically denied by all Realtors, was sooooo easy to see coming from 2001 on.... it just took a little longer to get here than expected.
The big question is where is the bottom...... no one knows (especially Realtors), but that’s what speculation is all about. Even though the Realtors will parrot, "now is a great time to buy" your gut has to tell you otherwise as unemployment is beginning to spike.
I feel sorry for the newbees to Leucadia..... Hope you all have deep pockets to weather this storm. Send old Mick and your Realtor a nice Christmas card this holiday!
the good news is in a few years, things will be more affordable. No government intervention needed thankyou. It’s a simple cycles that happen over time. We are simply deleveraging. To some that were over leveraged, pain will exist until equilibrium is achieve.
Ouch! Neighbors paid around $800,000 to much for their homes. Pretty bad speculators. I sure hope none are in the financial planning industry, because their foresight sucks. This bubble, which is emphatically denied by all Realtors, was sooooo easy to see coming from 2001 on.... it just took a little longer to get here than expected.
ReplyDeleteThe big question is where is the bottom...... no one knows (especially Realtors), but that’s what speculation is all about. Even though the Realtors will parrot, "now is a great time to buy" your gut has to tell you otherwise as unemployment is beginning to spike.
I feel sorry for the newbees to Leucadia..... Hope you all have deep pockets to weather this storm. Send old Mick and your Realtor a nice Christmas card this holiday!
Happy Holidays!
Dude, where's my equity?
ReplyDeleteIt reminded me of the dissaster videos of news trucks going into a city after a hurricane.
ouch!
Where are the low income units that Jerome and the boys promised us?
ReplyDeletethe good news is in a few years, things will be more affordable. No government intervention needed thankyou. It’s a simple cycles that happen over time. We are simply deleveraging. To some that were over leveraged, pain will exist until equilibrium is achieve.
ReplyDeleteThe other good news it I got nuthin to do with the turkeys who built that mess. Swimmin Pools, Movie Stars....
ReplyDelete