This post is obviously written by a have not jealous renter monkey. There are gangs and gangs of broke non-home owners who somehow could not cash in on the American Dream and never had a roof of their own. They always take refuge under someone else's roof. They own nothing of their own but a car and they keep polishing it every day. Yes I am a proud owner of real estate. Million dollar digs in the hills with plush comforts, expansive wide spaces, walk in closets, marbled floors, recessed lights. I eat on granite counter tops and enjoy trading options and stocks from various rooms in the house. So much space and unobstructed views of the city at night. Wish you had the same and lived a life like mine. Real estate has always appreciated in the last 60 years, it ain't a piece of digital blip in your trading account that can be tossed at will. Its a hard tangible asset, provides shelter and a place called your very own. When I sell IRS gives me a $250,000 or $500,000 tax free ride. Not to mention tons of deductions and other things on my 1040s every year so I keep most of my hard earned cash. Just ask an accountant, what a great tax shelter it can be. Happy Holiday buy real estate it lasts a lifetime..Congress has been generous to home owners..
Real Estate is not the Titanic stupid. Get your delusions cured. Real estate values have surpassed any other investment in last 60 years. I sell my houses every 2 years and taken in $500,000 tax free gains generosity of 1997 Tax act. How do you compare that with anything in the stock market? Where do you get $500,000 tax free gains on sale of securities ? I keep rolling tax free gains while living in posh digs and beautiful homes. Life must be good for an options trader who consistently generates 5-9 % returns every month and shelters them with real estate. Meanwhile you will always be washing your laundry with other losers at a public laundromat and wonder why life has been so unfair...
I'm a homeowner. I own 3 houses, live in 1, and rent out the other 2. Great passive income with deductions galore. But the "PRIDE" of my life is my loving, talented, gorgeous wife who adores me. I love her with everything I am, and ever will be.
"Quote from day7793: Anyone playing Google earnings this week? Trade ideas etc will be helpful. " You are definitely not a professional options trader. You come to ET and ask for trade ideas when you already make 6-9% a month. You are a fucking idiot. Go pay your rent before the lights turn off.
Oh you homeowners! Trying to justify your home's existence and still trying to tell us your home is worth such and such...shame on you, shame on you. Your home is not worth 700k anymore, thats all a pipe dream. Thats just like imagining your old tech stocks are still worth 1000 bucks a share. Now Countrywide Financial shares is costing a little more then a meal at McDonalds, are you still confident? What say you? Countrywide will go out of business, close its doors, bankrupt, broke and then what will happen next? What will happen when that XHB falls to zero? I imagine a post-crash depression era scene where folks are burning their stocks in the street but this time it will be the titles to houses as they are worth little more then the Iraqi Dinar. The bankruptcy filings for these home and financial companies is just a heartbeat away. The chaos, the mayhem and watching as the price of your house falls like a tech stock from the year 2000. Enjoy your Christmas homeowners and know this. Your house is no longer an investment, but just another depreciating asset that you own. After Christmas, comes the real deal, the mayhem, just like 2001 where the shares of tech stock burn in the streets, but this time it will be shares of homebuilders and financial companies and down comes housing prices! Down comes housing prices!!!
Obviously this monkey has never owned a piece of real estate. He is in for a big surprise of his damn stupid life. I bought my first piece for about $60,000 today its worth $600,000 plus What do you think happened here? Real estate kept going up even with our last down cycle of 1992-1997. Those were the terrible times in real estate. Who made money and the what about those incredible tax write offs leaving me to pay no taxes legally ? Lending and Banks will never go out of buisness you should take that as a fact. They have been around for last 120 years. Countrywide will scream back in due time and so will others once this idiotic , moronic public starts buying real estate. They can hold back that pent up desire for another 12-24 months and than the dam will break and they will clobber each other to death with multiple offers.
How do you know I am professional options trader or not? Are you wearing a white coat standing next to a bean counter with a scope in hand? Least to suffice I make good income from options trading and I learn every day. I come here to learn from others and silence those who get out of line when they yelp like cocker spaniels. PS: I haven't paid rent for most of my adult life and I donot know how to do that.