Yankee

R-Bear: I just want to thank you for the great work you do for this site in finding relevant articles. I always look forward to your posts!

The ads that appear in the forum posts are beyond annoying. They're insulting. Like Marina, I'm thinking of leaving this site. There are other forums out there, and if enough people gravitate to another one, this one will lose its draw. I can't say this strongly enough: Remove those internal ads.

Let me get this straight: You make 160K a year. You've just bought a house for 416K and say you don't care if it falls to 340K. And you have had this sudden urge to tell us all about it. Hmmm... I don't believe any of it.

These are extremely, extremely annoying. Where's a response from our Webmaster?

Torch My Ride: Arson for Hire http://www.edmunds.com/advice/specialrepor...84/article.html

Link doesn't work. Can you post it again? Thanks.

The U.S. press is publishing lots of articles now about debt, the housing bubble, foreclosures, etc. I sense a great unease. Yesterday, the entire (well, almost) NYTimes Sunday Magazine was devoted to debt and the economy. (There's even an article for you internet gamblers.) Link to all the articles: http://www.nytimes.com/pages/magazine/index.html You can start with "Reasons to Worry" by Niall Ferguson Why you could be excused for feeling a little uneasy about the collapse in household savings, the rise in home-mortgage debt, a large and growing trade deficit and the fact that Asian countries hold so many U.S. treasuries. Also, I stumbled across this article (http://www.startribune.com/535/story/482605.html) from the American Midwest (Minnesota) about the rise in home foreclosures. This is not an area of the Midwest that's in economic trouble (like, say, Detroit). Nor is it one of the U.S. housing "bubble spots," such as Florida, Boston, or California. If foreclosures are on the rise in Minnesota, the entire country is in trouble. Tough times are ahead, particularly in the U.S. where we now have (thanks to the Bush administration) draconian bankruptcy laws. Many people are going to be in serious financial trouble.

You forgot choice C: stagflation.

Here's another recent article on this gloomy topic. Generation X's Debt Headache By Laura Barcella, AlterNet. Posted May 31, 2006.

Student loans - a life sentence Forget about getting married and buying a home. This generation is thinking about next month's payment. By Christian Zappone, CNNMoney.com staff writer May 2, 2006: 11:43 AM EDT ----------------------------------

Why is the Monkey back at all? He was one of the most vocal bears here for a long time. I thought he finally decided he couldn't hold out any longer and bought a house. So why is he back baiting bears? Why isn't he just happy with jumping onto the ladder with all the others? The only reason I can think for him bothering to come back to this site is because he's uncomfortable with his decision to buy. Those mortgage payments must be getting to him.

I've been busy today, but just noticed that the pound has dropped to $1.85. What economic news has triggered this dip? I can't seem to find anything specific. Blair's support of Bush?

My apologies if this has already been discussed. America’s love affair with “irrational exuberance” By Ben Tanosborn May 24, 2006

I have a friend who bought a condo in New York in the early 90s, when prices were suppressed. She sold it last fall for a huge profit and is now renting. Her realtor has told her that the NYC market has since stalled. My friend timed it perfectly. She thanks me. She was in a bit of financial trouble, and I "ran the numbers" for her to show her that she'd be better off renting than owning--at least until the market cools back down. People who think that prices will never fall in their city, neighborhood, etc., are in real denial.

I would never take out a loan of any kind that had prepayment penalties. I think such penalities are outrageous. :angry: But that's just me.

Again, my apologies if this has already been posted. "Shiller Sees U.S. Rally Cutting Out" http://www.theglobeandmail.com/servlet/sto...PStory/Business

My apologies if this has already been posted. "Longer Bull Run = Bigger Bubble: Marc Faber" May 10, 2006 http://inhome.rediff.com/money/2006/may/10faber.htm

A Chill in the Air for Sellers NYTimes: May 9, 2006 http://www.nytimes.com/2006/05/09/business...5eb2&ei=5087%0A An excerpt: I no longer know who's ahead in the HPC race--the U.S. or Britain.

I've been meaning to comment on how much better the blog has been recently, particularly since I complained about it a while back. Thanks.

Don't people understand that the longer the mortgage, the more interest you pay? That means the house costs even more. It's true that some people pay off their mortage early (I did), but you have to be very disciplined to make extra payments. Most people today don't have the ability or the discipline to make extra payments. How can they when they're already in such debt? I can't believe how stupid people are about money, particularly when they're buying property. They never run the numbers. Nor do they consider that their financial situation might turn sour. Buy what you can afford. Be sure to plan for those times when you might lose your job or have some other kind of financial setback. Otherwise, you're life will be incredibly stressful and unpleasant. I don't get it: What's the point in owning a house if paying for it makes your life miserable--not to mention the fact that there are plenty of other (and I think better) ways of building financial stability?

The Pope is ill?

"Dwindling Dollar: World May Sneeze on US Cold" (the Times of India) http://timesofindia.indiatimes.com/articleshow/1506648.cms

Thanks for the link. Very interesting article. My favorite excerpts: That's an amazing drop in fixed-rate mortgages. Current homebuyers are being very foolish. Unless these buyers are absolutely certain that their jobs are secure and their wages are going to rise at a pace that matches rising interest rates, they are going to be in serious trouble. I've never understood why anybody would buy a home with a fixed rate. If interest rates go down, you can always refinance at the lower rate.

Rural House Prices Drive Families Away 26-3-06 http://www.aboutproperty.co.uk/news/planni...#036;409837.htm Just 6% of houses are affordable in rural areas and only 16% in urban areas? What's terribly wrong with this picture????

From the Boston Globe: "Housing Slowdown Deepens in Mass.: Single-family prices, sales slip in March" http://www.boston.com/business/articles/20...eepens_in_mass/ My favorite quote from the article: