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True. Very true. Then again, they'll have that cash saved so they can put 20-30% down or even buy a car right out. lol rates will be up but home prices will be down from years ago.
You figure 5 yrs x $20,000 saved = $100,000 cash in 5 years on no interest accumulation. Just under your pillow.
I say $20,000 because if their mortgage is $2500, and maintenance expenses is $500/mth and they can sacrafice a smaller space for $1400 rent. Then their saving about $1600 a month!
QT
My Alternative Energy Board.
The seller did fine. The bank collected interest as much as they could. The distressed home owner is going to be saving money, seems like everyone is making out pretty good ................. except the neighbors and other home owners suffering the downturn because these people couldn't manage their money. It's not the banks fault at all! I agree.
I don't want to be one of them BUT if times get worse, I gotta look out for myself and no one else. Sorry.
I'd rather have hundreds of thousands in cash in 10 years than a paper asset worth 50% less than what I paid..
I had SOLF call Options but they expired. I will take a look for sure. Thanks for the heads up.
LOL. Exactly. They did it thinking they'll get in on the fun of appreciation, they did it thinking they'll sell in a couple years and make some money, they did it thinking prices wouldn't crash and that the mansion expenses would be recouped in a couple years.
Now they're paying for a property worthless and they hate throwing their money away at no chance to get it back. At least renting they can pocket the $20,000 a year that would of went to a mortgage anyway.
I'll never understand the SUV thing. I gave up.
Put it this way.. let me sell you my home for $400,000 but you have to get a $650,000 loan for it.
It's called poor planning, poor visual for the future, neive to what could be.
I stopped buying properties in 2005. I wonder why. lol
I bought a house last year but 26% below FMV so I'm still even ahead today.
Not so much a goverment handout thing. Most of these guys rather rent for $1000/mth than have a $3000/mth mortgage.
Think about it: $36,000 a year OR $12,000? It's a no brainer. You'll never get a $36,000 appreciation by next year. You'll never get a $108,000 appreciation in 3 yrs. I'm using a single family home in my area as an example.
Oh yeah, I didn't include taxes or maintenance either. You can use any property bought 2 years ago as an example.
People are smart to know they won't get any of their money back so why not rent for less and pocket all that extra money!
It's smart thinking. Me...I'll keep paying my mortgage because I love where I am and not because I'm "hoping" a stock will go back up. lol
Think about that last line. Some people are paying their mortgage suffering becuase their hoping the market comes back.
I've talked to 3 people on a job this past week and each of them told me they aren't paying their mortgage just because they dont want to, not that they cant. They feel its not worth it to spend all that money if they won't be getting it back soon.
Wow. No wonder why the collapse. No wonder why we're not done yet. Foreclosures should keep rising again.
Amen. It's actually better buying a car for $200,000 then a home right now. Then again, unless its a fuel cell vehicle maybe $200,000 on a tomato garden is the best. lol
If someone can afford and keep up with their mortgage and someone is comfortable with where they are, then just keep up with the payments and like you said...be patient.
It Might not be 5 years but at least its enjoyable living there. I think the mentality of not being able to get out for a profit is hurting the home owner. They look at the expense and start wondering why.
Yeah I feel for those folks there. Homes, businesses, crops, everything is different for them now. They need to stay strong and just survive out there.
Did you see the 100 vs 500 yr Flood difference? The crest of the 500 yr flood is like 26 feet. The chances of the 500 yr flood happening are .2%. POINT TWO PERCENT.
They went over that TWICE in the last 15 years!
~ and exactly, no heat was in the air to clash with the cold. WTF
QT
My Alternative Energy Board.
Another Thunderstorm Cell came through. Thats 4 in last 9 days!! I got this one on video. Storm was moving West to East pretty quick and The rains were coming from all direction! The wind hit only 35MPH this time. Mondays hit 60MPH. Low lying areas got flooded within minutes. Rain came down harder then usual.
I think it was 2 years ago a Tornado tounched down in Greenwich CT.
It's June. we got 4 severe thunderstorms.
It didn't get over 80 degrees today. WTF.
Yes, US has the most Tornados in the world and if you look at the stats, Tornados are on the rise past decade! But Some say it's becuase we have access to more communications and there are bigger populations in areas so the reports are more then before.
I'm glad it's not just me. It's not just one thing, it's the rains pouring harder, the lightning is brighter and more frequent, the thunder is roaring instead of a boom and the winds get to 50MPH easily now.
Wow, what is going on! thank you. Is the purpose to spy on us? To get us used to something in the future? To prepare for upcoming events? To try ways to fight wars? Whats the purpose?
QT
My Alternative Energy Board.
~~~~~~~COMPX 06/17/2008~~~~~~~
Previous Close 2474.78 +20.28
2443 SSKILLZ1
2427 QT
QT
My Alternative Energy Board.
Are you suggesting these storms have something to do with man made events such as spraying chemicals in the jet stream?
You know, 9-11 I can figure out why but why would they do that for weather events? Unless it's a defensive tactic for war. Interesting.
But back to the weather - I always feel like its only where I am but do you hear the thunder rolling across the sky and shaking the earth beneath you? Its not just one BOOM, it roars across the sky. You knida get a sense of how powerful it is and how small we are on this planet.
Why does thunder roll and roar and not boom and fade? Is it lower to the ground now??
FA: We need to talk weather!! I have seen an increase in strength in storms this year in my area.
I'm standing on my porch trying to figure out why the lightning is more intense and flashing quicker, why the thunder is shaking the earth more, why the rain falls like it's held it in for 10 years.
Are the clouds holding the water more? Is the earth spinning slightly faster?? Are there more electrons or something in the air causing the lightning and thunder to be more severe?
Is it the temps fluctuating quicker??
Why!!??
I've been chasing storms since I was a kid. This onw scared the crap out of me. But seeing local stories around me, the storms are reaking havic which they never used to before.
Your right. I guess I assumed people would understand that when you get logged out and come back to a board, the inbox always shows. ooops. But its definetly too much to upload even with high speed.
Anyway - keep up the great posts about the Real Estate market.
LMAO. It's my new computer with cable connection that can't absorb it. LOL! Thanks for your opinion though.
Hey, my login keeps booting me off so I decided to check out this board without being logged in. WOW. I didn;t realize the inbox.
Any chance you cna lesson the load in there? Ton of good info but also too much ie: etf sector investments, all the charts, and especially Ron Pauls huge Banner. lol
QT
My Alternative Energy Board.
Thank You! Thats it. So here we are at 12000 on the Dow. I guess 10,000 is the critical point maybe we'll hit it this year as a fake out? But we're still ways off to get there.
I'm guessing an unknown event has to happen ie: terrorist attack, 3 major gulf hurricanes, oil at $200, gas pumps at $8/gallon, all banks fileing BK, real estate properties with no bid meaning worthless, or like I said, something we dont know of.
Thanks again.
QT
My Alternative Energy Board.
re: 1987 vs NOW~ Markets are worse than in 1987!!!
This is amazing. I posted this in October of 2007 (before we dropped) and noticed the similarites of 1987 and 2007.
I didn't realize we would drop this much currently. Wow.
The blue represents 1985-1987.
Hey, re: Market Crash:: I don't have access to search. Do you remember our conversation about how the S&P looked exactly like it did in the 20's with stocks hitting new daily 52 wk highs everyday?
I posted a couple of comparison charts of it. I would like to see that again.
Maybe if you can type in QuickTrade 1929 Comparison"? Or something?
Thanks.
Thank you. It has been added.
Wow. I'm in the wrong area for sure.
Umm, You mean 8 acreas right? I'm on 1/2 an acre and complain about maintaining it and how much property we dont even use, I cannot imagine owning or living on 80 acres! So I'll assume thats a typo.
Not even Lowes or Home Depot is on 80 acres. Gees. lol
Wow. congrats and never forget you have the life / house you always thought of having. Some people wish they have something different because they're used to what they have and forget how lucky they could be.
You, in my eyes, are very lucky. I'd be building a nice cabin in those woods behind you or something. Is that city property back there?
I moved into a house just last year from being on a busy street outside the city of Stamford,CT. It's in the woods but and totally a different life from being next to the ocean. I love the quietness but I really wish I had a home like yours.
What was your price? Mine was $420k
So far within 5 months I've encountered Rabbits, Deer, Chipmonks, Squirrels, Birds, Turkeys and even a Coyote! My dog is having a blast! lol
Here's a view from my house facing west.
QT
My Alternative Energy Board.
Hey Lizzy, why were you in and how did you get out? I hope my plea for a release helped.
~~~~~~~COMPX 06/06/2008~~~~~~~
Previous Close 2549.94 +46.80
2527 QT
2501 SSKILLZ1
Sometimes you'll realize options are a monster of another game. A stock can take the wrong turn and you're down 20-30%.
If you're not on the right side of the trade with options, it can get ugly.
Interesting sell off When Obama Was Considered the Nominee.
http://www.cnbc.com/id/24971486
Stocks Still Don't Like Obama
Last night on Kudlow & Company we discussed the theory suggesting the stock market sold off a hundred points earlier in the day -- despite Fed head Ben Bernanke's bullish King Dollar statement -- because of the AP headline announcing Obama's impending nomination.
As the chart above clearly illustrates, the market nosedived mere moments after the AP story broke.
My friend Bill Griffeth also mentioned this interesting coincidence earlier today on CNBC's Power Lunch:
We couldn’t help but notice yesterday, around 1:25 pm ET, when the Associated Press came out and announced that it had done the math and figured that Obama truly had virtually clinched the nomination, it was at that precise moment, when the stock market started to fall. And the Dow, which had been slightly positive, virtually unchanged, suddenly had a 100-point decline…Is it possible that Wall Street is indeed rattled by [Obama’s] policies as it pertains to taxes? And, most especially, his desire to increase - almost double - the capital gains tax?
Sure makes you wonder, doesn't it?
re: Skunk. Had that happen to me couple years ago. Tomato Juice doesn't work. I didn't have it at the time so I started picking all the tomatoes in my garden. LMAO. That didn't work.
The stench was unbearable.
1 quart 3% Hydrogen Peroxide*
1/4 cup Baking Soda
2 tbsp liquid Dish Soap
1/4 cup of white vinegar
Works wonders. DO NOT ATTEMPT TO SMELL HIM DURING THE BATH. You might throw up.
Mix the ingredients in a large bowl, because it will boil up like Vesuvius. We are, after all, making an oxygen generator. Wash the dog with this while it is still foaming, because it is the oxygen which reacts with the thiols in the skunk stink to neutralize the odor. If it sits around, it will loose it's efficacy because the oxygen boils off. Don't try to store it in an airtight container, because it will blow up. The brew also works for clothes, humans and unlucky cats
OR
Pet Smart sells a product called Skunk Free
QT
My Alternative Energy Board.
S&P vs Unemployment Rate in the 1970's. Notice the market started coming down before the unemployment rate went up.
But the S&P definetly dropped big time when the rate went up.
Where are we now? Rising.
QT
My Alternative Energy Board.
~~~~~~~COMPX 06/02/2008~~~~~~~
Previous Close 2522.66 +14.34
2497 SSKILLZ1
2485 QT
I see $27 maybe with RVBD. Looks pretty solid. Hmm Lizzy, a call option in the works?
QT
My Alternative Energy Board.
Edit: Checking out the chart now. I might like the $250 strike calls.
~ Nahhh, I don't like the chart. 90% of stocks showing some kind of weakness or indecision. I dont like that FSLR broke the uptrend pattern. So if we had to hold the calls it would be tough.
I would only do a day trade..a really quick one with a tight stop.
QT
My Alternative Energy Board.
Thanks for update.
re: Laptop. I'm also in the process of getting one. My Gateway is failing me after 3 years. I want a Sony but their price is insane. They are like a Toyota though.
You like Dell(the laptop)?
Go Pens! Hey, analyze the move on DRYS today. Sick,..so sick. Check out the June $100 puts... Closed @$9.40 yesterday. Opened at $9 today. A 5% drop. Intraday low was $7.80 a 17% drop from the close. Check it out now. A 75% move up from the morning low and a 25% increase from yesterdays close.
Want volitile? Trade DRYS Options.
I bought these puts @$9 at the open. Had my sell for $9.40. Friggin Etrade MM couldn't cancel the sell order so I wasn't able to place my sell on the bid at $8.80. Called ETrade, they worked their magic and I got a fill at $8.40. A small loss.
ITS AT $12 NOW!!! LMAO!!!
Yeap. But remember, we're working against a clock. Like if the Red Wings are down 3-2 in Game 3 with 5 minutes left.. unless the offense picks up game will be over.
You can buy into next months expiration date or even Novembers but thats like holding a stock for months.
And have you noticed yet that a stock can be $100 and the option @$9.00 But tomorrow the stock can be back at $100 but the option is at $8.
All I hear from the media "coal, natural gas, bio fuels, ethanol, and plug in hybrids.
THEY DONT TALK ABOUT FUEL CELLS AND SOLAR!
Fuel cells will be our transportation energy. Solar will be for residential and commercial use.
Options: Well, I don't have any particular ones but what I do is have a watch list of stocks. If I see something I like either its up too much or down to much I'll click it, then look at the options chain.
I'll find the option (put or call) that doesn't have a big spread. Meaning the bid ask is close not far apart.
I played DRYS yesterday. Bought the $85 Put Option @$6.34. Then I realized looking at the chart this stock dropped like 50% in 2 weeks. LOL So too much upside potential. I sold @$6.60 for a small profit.
It ended up closing @$5.50 or something.
Options are fun but just remember...they expire.
And remember... as time goes on closer to the expiration, the stock can be going your way but the option might not because either people are selling it OR it's not getting to the strike price fast enough.