If your doing so well why would you respond so strongly to some posts that are written by sheep. I am not a psychologist but it sounds to me like you are trying to convince yourself everything will be fine. Weird post if you ask me.
can't agree more....heard the same shit from stock gurus in from 2000 on .." the shorts will have to cover" " You won't see 50% gains every year but 10-15% is likely"...yadee yadee ya!!! You can try and convince yourself all you want.....Hey, I have two homes and only on very modest mortgage...But as i drive into my development and see for sale signs all over with some now on the market for over a year, i know that my assets are being affected...Im not selling, but my leverage to go and pick up a nice value has just been depleted....hold onto your hats folks....this is gonna be like Hurricane Katrina II
From the looks of IYR's move this year (up 20 of the last 22 days) there's no need for a "tag day" to bail out commercial holders....
Same thing here. I live in a beach town in S Texas (South Padre Island). There are for sale signs EVERYWHERE. Each street is only a few hundred yards long, and they all have at least a few signs. Its mind boggling. Prices here are way high for Texas, and everyone seems to be bailing at the same time. Very little is moving. Jay
this may not cause a burst like people seem to think..(I am with you guys in that type of thinking)....the BID has to be hit and hit hard...staying on the offer doesnt necessarly mean a price decrease..just a long mo-F**K time to move your paper....:eek:
But think of it like your account with a margin call...you can put a limit order out there to satisfy your call for only so long before the house puts all your shares out there as a market order....same as the ARMs and Balloon payments coming due...
in most cases which is speculation people will jst walk away from their deposit, others that used fancy financing to bite off more than they can chew will get burned and some of the pain will be felt by developers...Hey im with ya in your way of thinking ..but a BUBBLE?? as in a crash?? maybe?
the sad thing is i have money on the sideline waiting to cash in on this once the bottom hits.....I feel like a Vulture....but i also feel bad because many of my friends and acquaintances are getting smacked down as we speak....IMO..its going to be worse then the stock bubble.
There is no one more credible than Robert Shiller, and he has referred to it as the "by far the biggest asset bubble in history." The Economist magazine, also long on credibility, did a wonderful expose on it that shows how it could (and will likely) lead to massive global liquidity contraction (as the U.S. cools quickly). But then there's Goldilock Larry Kudlow, who disagrees with both. You decide who is more credible - Kudlow or Shiller.