Pages: 1 2

 

2007-04-16 09:10:24
Bertster7
Confused Pothead
+1,101|7032|SE London

CameronPoe wrote:

Hunter/Jumper wrote:

Sorry, Not much of a " shit storm " here really. The exponential rise of housing prices has become a gradual rise but still rising. Money is there if you want to work for it. If you want to blame the economy for your failures, you can. I remember a post a while back that stated because Italy was going to stop buying US silver ( or some dam thing) we would a be in bread lines soon. The USSR was going to bury us etc. Still here ! though admittedly some ( see above ) cant hack it.

Ps Good idea !  don't invest in realestate. lol
You do know that there are better ways of multiplying your money than by investing in property, namely by investing in stock markets...
That's not true. Over the past 30 years in the UK property has been the best investment by a very, very long way - excluding some specific stocks. In any case high gain stocks are almost always high risk, high gain property is not. Property prices are not going to fall any time in the foreseeable future, the rate that they are rising at may fall, but the prices themselves will not.

My parents bought their house for £10000 in '78, it's now worth more than half a million. Getting those sorts of returns on the stock market, consistently, is almost impossible.
2007-04-16 09:26:02
Kmar
Truth is my Bitch
+5,695|7051|132 and Bush

New home construction has slowed here. That should help out quite a bit since the market will not be quite as flooded. The market will bounce back, that is the beauty of real estate. There is only so much of it and there is always a need for it.
Xbone Stormsurgezz
2007-04-16 09:29:31
CameronPoe
Member
+2,925|7006

Bertster7 wrote:

CameronPoe wrote:

Hunter/Jumper wrote:

Sorry, Not much of a " shit storm " here really. The exponential rise of housing prices has become a gradual rise but still rising. Money is there if you want to work for it. If you want to blame the economy for your failures, you can. I remember a post a while back that stated because Italy was going to stop buying US silver ( or some dam thing) we would a be in bread lines soon. The USSR was going to bury us etc. Still here ! though admittedly some ( see above ) cant hack it.

Ps Good idea !  don't invest in realestate. lol
You do know that there are better ways of multiplying your money than by investing in property, namely by investing in stock markets...
That's not true. Over the past 30 years in the UK property has been the best investment by a very, very long way - excluding some specific stocks. In any case high gain stocks are almost always high risk, high gain property is not. Property prices are not going to fall any time in the foreseeable future, the rate that they are rising at may fall, but the prices themselves will not.

My parents bought their house for £10000 in '78, it's now worth more than half a million. Getting those sorts of returns on the stock market, consistently, is almost impossible.
It all depends on where you buy. The same could not be said if your parents had bought in Scunthorpe in northern England for instance. I was there once and there is terrace upon terrace of abandoned property due to the crash of British Steel. It has become almost impossible to actually get a foothold on the property ladder these days and as such you have to look to alternative ways of investing your money. There is an element of good fortune required when buying property you hope will appreciate in value considerably.

Last edited by CameronPoe (2007-04-16 09:30:27)

2007-04-16 09:40:33
Bertster7
Confused Pothead
+1,101|7032|SE London

CameronPoe wrote:

Bertster7 wrote:

CameronPoe wrote:

You do know that there are better ways of multiplying your money than by investing in property, namely by investing in stock markets...
That's not true. Over the past 30 years in the UK property has been the best investment by a very, very long way - excluding some specific stocks. In any case high gain stocks are almost always high risk, high gain property is not. Property prices are not going to fall any time in the foreseeable future, the rate that they are rising at may fall, but the prices themselves will not.

My parents bought their house for £10000 in '78, it's now worth more than half a million. Getting those sorts of returns on the stock market, consistently, is almost impossible.
It all depends on where you buy. The same could not be said if your parents had bought in Scunthorpe in northern England for instance. I was there once and there is terrace upon terrace of abandoned property due to the crash of British Steel. It has become almost impossible to actually get a foothold on the property ladder these days and as such you have to look to alternative ways of investing your money. There is an element of good fortune required when buying property you hope will appreciate in value considerably.
Not if you buy in London and the south east. Property in high demand areas is never going to be anything but investment gold - plus if you rent the property out you can often just about cover the mortgage payments with that income and effectively get the property for free. You just need capital for the initial outlay.

I'm not disputing the fact that it's a difficult market to get into, because of the big amounts of money involved, but it's a damn good way of investing money.

Last edited by Bertster7 (2007-04-16 09:40:46)

2007-04-16 09:52:02
GunSlinger OIF II
Banned.
+1,860|7094
why is the house that I live in worth 5 times as much as it was when it was first bought in 1986.  also in a shitty, crime infested area with a  high percentage of illegal immigrants and drug activities.
2007-04-16 11:37:11
smtt686
this is the best we can do?
+95|7081|USA
its way worse for those frenchies.  After all, were not moving to mexico...Yet

http://www.msnbc.msn.com/id/18127494/
2007-04-16 11:44:43
Mr.Pieeater
Member
+116|7075|Cherry Pie
LOL, first of all doesn't Norwegian TV have anything better to report on?? 

Second, its not about a bad economoy in the US, its about an idiot who buys a house that is too expensive for him to afford.  Thats it...  It can happen anywhere in the world. 

Norwegian TV needs to get a life.   LOL.

Its not my fault people are stupid and buy an expensive house...  I wouldn't be surprised if they bought it on a credit card and are making minimum monthly payments!
2007-04-16 11:50:09
ghettoperson
Member
+1,943|7100

CameronPoe wrote:

Bertster7 wrote:

CameronPoe wrote:


You do know that there are better ways of multiplying your money than by investing in property, namely by investing in stock markets...
That's not true. Over the past 30 years in the UK property has been the best investment by a very, very long way - excluding some specific stocks. In any case high gain stocks are almost always high risk, high gain property is not. Property prices are not going to fall any time in the foreseeable future, the rate that they are rising at may fall, but the prices themselves will not.

My parents bought their house for £10000 in '78, it's now worth more than half a million. Getting those sorts of returns on the stock market, consistently, is almost impossible.
It all depends on where you buy. The same could not be said if your parents had bought in Scunthorpe in northern England for instance. I was there once and there is terrace upon terrace of abandoned property due to the crash of British Steel. It has become almost impossible to actually get a foothold on the property ladder these days and as such you have to look to alternative ways of investing your money. There is an element of good fortune required when buying property you hope will appreciate in value considerably.
But lets face it, who would actually invest money in somewhere with 'cunt' in it's name.
2007-04-16 12:05:33
Kmar
Truth is my Bitch
+5,695|7051|132 and Bush

GunSlinger OIF II wrote:

why is the house that I live in worth 5 times as much as it was when it was first bought in 1986.  also in a shitty, crime infested area with a  high percentage of illegal immigrants and drug activities.
Depends on who is telling you that is worth that much . Markets vary by location of course. Many people still believe their house is valued much higher. Remeber worth is based on what people will pay, not how much you have put into it. They are basing cost on the way the market was 2 years ago. New home builders are now offering cars now with a new home purchase.
Xbone Stormsurgezz
2007-04-16 12:07:45
GunSlinger OIF II
Banned.
+1,860|7094
from what i understand, the housing market in los angeles county is ridiculous.  this home was purchased for $130,000 back in the mid 80's  I know you will never find a house for that small of a price in this area nowadays.
2007-04-16 12:13:50
Kmar
Truth is my Bitch
+5,695|7051|132 and Bush

GunSlinger OIF II wrote:

from what i understand, the housing market in los angeles county is ridiculous.  this home was purchased for $130,000 back in the mid 80's  I know you will never find a house for that small of a price in this area nowadays.
Umm yea.. I don't think so neither..

I bought my first house when I was 19 in '94 for just over 100k. I sold it during "the boom" for more than twice that. You would be insane to flip houses right now though.
Xbone Stormsurgezz
2007-04-16 12:18:51
GunSlinger OIF II
Banned.
+1,860|7094

Kmarion wrote:

GunSlinger OIF II wrote:

from what i understand, the housing market in los angeles county is ridiculous.  this home was purchased for $130,000 back in the mid 80's  I know you will never find a house for that small of a price in this area nowadays.
Umm yea.. I don't think so neither..

I bought my first house when I was 19 in '94 for just over 100k. I sold it during "the boom" for more than twice that. You would be insane to flip houses right now though.
gimme something to tell my mom because thats what shes depending her retirement on.
2007-04-16 12:35:37
Agent_Dung_Bomb
Member
+302|7186|Salt Lake City

Mr.Pieeater wrote:

LOL, first of all doesn't Norwegian TV have anything better to report on?? 

Second, its not about a bad economoy in the US, its about an idiot who buys a house that is too expensive for him to afford.  Thats it...  It can happen anywhere in the world. 

Norwegian TV needs to get a life.   LOL.

Its not my fault people are stupid and buy an expensive house...  I wouldn't be surprised if they bought it on a credit card and are making minimum monthly payments!
That's not always the case.  Where I'm at the housing market is so hot that many people are doing whatever they can to get into a home because appreciation is far outpacing their income.  If they don't do whatever they can now, even a year could put any possibility of a home out of their reach.  A buddy of mine built a home a couple of years ago.  Before the construction was even completed it had appreciated by more than $100K.

Right now the sub-prime market isn't doing so well.  Companies that dealt with these markets, and used to sell them on the stock markets, are now starting to fail at an alarming rate.  Banks using ARMs and even extending mortgage terms to 40 years, are all starting to catch up, and sooner or later the bubble will burst...or at least it severely deflate.
2007-04-16 12:36:33
IG-Calibre
comhalta
+226|7193|Tír Eoghan, Tuaisceart Éireann

Mr.Pieeater wrote:

LOL, first of all doesn't Norwegian TV have anything better to report on?? 

Second, its not about a bad economoy in the US, its about an idiot who buys a house that is too expensive for him to afford.  Thats it...  It can happen anywhere in the world. 

Norwegian TV needs to get a life.   LOL.

Its not my fault people are stupid and buy an expensive house...  I wouldn't be surprised if they bought it on a credit card and are making minimum monthly payments!
TBH I don't think you really grasp what negative equity is.. it's about mortgage repayment rates increasing on what you paid for a house that is actually depreciating in value - a shit situation to be in..
2007-04-16 12:37:11
Kmar
Truth is my Bitch
+5,695|7051|132 and Bush

GunSlinger OIF II wrote:

Kmarion wrote:

GunSlinger OIF II wrote:

from what i understand, the housing market in los angeles county is ridiculous.  this home was purchased for $130,000 back in the mid 80's  I know you will never find a house for that small of a price in this area nowadays.
Umm yea.. I don't think so neither..

I bought my first house when I was 19 in '94 for just over 100k. I sold it during "the boom" for more than twice that. You would be insane to flip houses right now though.
gimme something to tell my mom because thats what shes depending her retirement on.
Unfortunately I am not familiar with your particular market .
Xbone Stormsurgezz
2007-04-17 05:45:21
IG-Calibre
comhalta
+226|7193|Tír Eoghan, Tuaisceart Éireann
just reading there today that Inflation is set to raise mortgage repayments & add £15 a month to a £100,000 25-year variable rate mortgage. yet the housing market in the UK started a downward turn by .1% in Feb/March this year,  this is how you end up caught in Negative Equity..

http://money.guardian.co.uk/property/mo … 42,00.html
2007-04-17 06:04:56
Varegg
Support fanatic :-)
+2,206|7260|Nårvei

Mr.Pieeater wrote:

LOL, first of all doesn't Norwegian TV have anything better to report on?? 

Second, its not about a bad economoy in the US, its about an idiot who buys a house that is too expensive for him to afford.  Thats it...  It can happen anywhere in the world. 

Norwegian TV needs to get a life.   LOL.

Its not my fault people are stupid and buy an expensive house...  I wouldn't be surprised if they bought it on a credit card and are making minimum monthly payments!
In Norway we have what`s called domestic news and then there is news about other countries maybe unlike what you have in the US obviously - it was a five minute newscast in a series about different abroad economics-news !

Second, if you actually read the topic you would have known this is not about common people buying houses the common way - and you just called 2,5 million American families for idiots - well done !

So read the thread again and then comment if you bother that is !
Wait behind the line ..............................................................
2007-04-17 06:25:41
konfusion
mostly afk
+480|7000|CH/BR - in UK

Mr.Pieeater wrote:

LOL, first of all doesn't Norwegian TV have anything better to report on?? 

Second, its not about a bad economoy in the US, its about an idiot who buys a house that is too expensive for him to afford.  Thats it...  It can happen anywhere in the world. 

Norwegian TV needs to get a life.   LOL.

Its not my fault people are stupid and buy an expensive house...  I wouldn't be surprised if they bought it on a credit card and are making minimum monthly payments!
Uh...wtf?
Dude, you can rarely afford a house. In fact, that is why you get a loan in the first place. Most people do not have the money to pay upright, that is why they need the money from the bank, which evidently is getting more expensive.

-konfusion
2007-04-17 15:35:17
Hunter/Jumper
Member
+117|6805
I geuss we can end another " America is on its death bed "  thread.

Put it next to " we will bury you ! "
2007-04-17 15:38:44
konfusion
mostly afk
+480|7000|CH/BR - in UK

Hunter/Jumper wrote:

I geuss we can end another " America is on its death bed "  thread.

Put it next to " we will bury you ! "
This is just pointing out the economic state that the USA is in. The economy is going great for exporters, and not so great for the average. I see no implications of a downfall in this thread.

-konfusion
2007-04-17 15:49:24
jonsimon
Member
+224|6946
It isn't bush's fault alone, it's a long tradition of poor government spending and inherently destructive discretionary fiscal policy. And the oil our dollar is/was supported by. And reluctance to implement modern social welfare like europe. And the incredible gap in wealth between the American aristocrats and the rest of us. There are a lot of reasons we suck.

Last edited by jonsimon (2007-04-17 15:51:09)

 

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