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House Price Crash Forum


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Posts posted by Montauk

  1. Test. It's been a while. In any case, estate prices here in NY have been descending, but not quickly. It sems to be a slow grind down, despite the headlines.

    Oh, and by the way, I've just passed my sixth year anniversary on this board! Wow! Where does the time go? Thanks to everyone here for saving my financial #ss! I still remember "Time to Raise the Rents" (TTRTR). I'm still renting! But things are getting worse, so I don't think it's wise to buy now anyway.

  2. Come on guys takes 2 seconds to answer and we'll all benefit. 76 views so far,

    Q1 answer yes, or no,

    Q2, up 20% down 30%

    We'll all be a little wiser and get a more accurate picture. :D

    Hey Crashoutandburned,

    That makes 2 of us that are in a positive situation - must stress I'm a bear and think there will be a crash.



    I owe about $1200 on a Citibank credit card. That's it. My highest was an 80K loan for a house, which I sold in 2005, and thank the Lord, too! Good timing for Long Island!

  3. Okay I keep hearing about Cagno and how he predicted things, him of the mushroom cloud fame.

    So has anyone got any links to some of his early posts, especially one about a "phone call"?

    Where did he go anyway? Is he still posting somewhere else?

    Curious minds want to know!

    Hi! I still don't dismiss Cgnao's (former?) position. After all these years, I thought the inflation/deflation debate would have been settled long ago by now. So now I'm roughly (75/25%) in fiat and Gold, respectively. This is what I call diversification. :)

  4. Check out this RECENT documentary that gives an update. Glossy, and it's 25 minutes long.


    It is being tracked on the GEI Thread http://www.greenenergyinvestors.com/index.php?showtopic=6901&st=80&start=80

    Thanks for the video link. It was very good. I wonder how the Icelandic stock market is doing? It would be interesting to see if it has gone up or down with the advent of inflation, devalued currency or what have you.

  5. http://www.timesonline.co.uk/tol/money/pro...icle6719661.ece

    People are simply refusing to price their properties any lower. Forced selling is being contained by record low rates, and those that do move are renting out instead. Sustainable?

    Ya know, you guys is so open to bullsheet. There ain't no way commercial props are gonna weigh in at above 2007 prices for years! Put that in your pipe and smoke it! :) So now we gonna see anotha SECOND wave of defaults, big time. The big banks ah gonna take anotha BIG hit real soon. Enjoy goin down, ya know what I'm sayin?

  6. Thanks OP, lovely Bear Food.

    I'm keeping a list of those who are buying in now and chuckling as they try and justify thier mistake on this forum. What surprises me is that they still visit and post, proving that they have fallen into the Bull Trap, hook line and sinker. They have obviousley learnt nothing from this site and believe they are being clever.

    Time will tell :lol:

    Yes, I'm one of those. I have a unique strategy: buy high and sell low. :)
  7. Thanks for the comments. It's my first post so apologies if 'translucent' but I thought it was a genuine question. I realize there is a lot of info, but it's not like you can identify me!!!

    Buying costs are mostly absorbed (for one reason or another) and selling costs would be absorbed by employer (relocation) so I am not overly concerned about this.

    I'm not sure about the stock market option, personally I think the safest bet if thnking about it in this regard is to plough all the money back into paying off the mortgage. The stock market is a risky place to put your entire future (particularly at the moment). I would be looking at a 10 year mortgage anyway.

    Here's a suggestion: Take your 25K in investments and add it to the down payment. That will give you a 60K mortgage. Take out a 30-40 year fixed mortgage with no pre-payment penalties (important!), your monthly nut will be lower in the case of under employment. Then take the extra savings and plow it back into prepaying the mortgage in a few short years. Presto! In 8 or 9 years, you will be free and clear.
  8. As some of us have realised, economics is the study of human beings trading with each other in the real world, as well as the conceptual world that we all live in but do not share.

    That is, the actions that we undertake are primarily derived from our thoughts, feelings, impulses, emotions and memories - which are not bound by much if any physical laws but are also at one and the same time completely bound by those laws when we actually try to express them.

    What is the point upon which values are measured against?

    There is a direct connexion between the physical and the collective agregate awareness. Just as tides ebb and flow, so does the entirety of human awareness. What I'm saying is that homeostasis is the eventual result of all imbalances, as seen inthe correction of excesses. Perhaps I've had a few too many libations and it's time to go meditate. :) In any case, it's clear to me that the physical world is merely a manifestation of the trascendental intelligence, or the intelligence of the universe, if you willl. BTW, always love your posts. Very refreshing.

  9. I would be happy renting for the rest of my life if I didn't have one of those gold plated public sector pensions. If i did rent no doubt that when I retired I would have to use a substantial amount of that pension to pay rent.

    So in my case it would be more viable to purchase.

    Yes, but timing is everything. Why pay more? My guess is that it's better to buy other things now such as some gold, some silver, some commodities and good company stocks after the next leg down, and then cash it all in to buy a house a rock bottom prices just before the hypeinflation kicks in. But what do I know? It's just my best guess, but I've certainly been wrong before! :)

  10. After years of waiting for prices to fall I enquire how much I can borrow, plenty it seems, in order to buy. Comparing my current debt free status, renting happily, pile of cash in the bank however, to contemplating entering into a 'Death Grip' of a (still) large mortgage has caused an epiphany of sorts.

    Why am I still blindly wanting this, what are my motivations? Chiefly pride it seems, wanting to be an 'owner' rather than a renter. That and the spectre of retirement.

    Well you know what? f**k that. I've realised I'm happier now than I think I could be owning a massive debt and living in a house the bank has bought for me and is allowing me to live in, as long as I continue to live in fear and sweat over making those repayments for the next 25 years.

    If I could buy the place I'm happily renting now, I may consider it. But other than that, I'm seriously considering whole-heartedly entering the renting game for life and shoving away piles of cash into savings and investments instead.

    Life by its very nature should be about freedom and the way I'm feeling right now, getting a mortgage seems to be the very antithesis of that. I'm 39 next month so am having to think more seriously about this, despite that, I'm feeling in a more life-affirming place than I have done for many years as a result of daring to consider Not Buying.

    Yes, I agree. The freedom of renting is an especially sweet position to be in at present. I will buy something if prices go significantly below renting costs, however, as I did in the mid 90's. It was if someone paid me $1000 per month to live in a house for 12 years and then wrote me a cheque for $170K to move out when the house fell into complete disrepair needing a new roof, windows, landscaping, electric, plumbing, and more! Best thing I've ever done! Now I live in a much better house in a much better neighborhood with cash, gold and silver in the bank. What's more, I'm completely debt free! (And no mortgage!) Thanks for your post!
  11. Santelli's Chicago tea party -

    America begins to stir?

    Wasn't that cool? He said to read what the founding fathers said. Something that the nanny state British never do. OK, I'll give up the right to defend myself, OK I'll give up the right to my privacy, OK, I'll give up the right to pay for my own health...et.al. Pathetic, really. If the Germans, or whoever, get grouchy again, we ain't bailing your asses out this time. Good luck with that. Get some f*cking guns yourselves and protect your bloody selves for once, you high falutin extremely well spoken pansies. :)

  12. They do say a bull market is when bad news has no affect and a bear market is when good news has no affect.

    Wonder if it will settle below the November low (7532... is that right?) or even below 7500. Although I tend to concentrate on the s&P as it is less flawed.

    It's a good time to buy! That way you will lose less money than those who bought at the top! :)

  13. Because the full scale of the fraud needs to be thoroughly investigated, with all guilty parties brought to trial?

    Or have you, tim the omnipotent, already decided that in this case, an old man managed to hoodwink hundreds of people, not to mention the regulators, single handed?

    He really deserves the death penalty. He's ruined so many lives. If he had any decency at all, which of course he doesn't, he would off himself.

    He has no honor at all. If I were him, I'd rather be dead. But, no, he whines about having to be under house arrest in his elegant flat in NYC. These people really need to be taught a lesson. Meanwhile we scrimp and save and deny ourselves and our children a decent home, good food and many other things, while rats like him run around unpunished. Really, it's a horrible injustice.





    So really, where is one to go? Suggestions?

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