You know, Warren Buffet said is his last report to shareholders that he's sitting on his billions in cash at Berkshire, waiting for the bubble to pop so that he can swoop in and buy real estate at distressed prices too...
Here's what Freepers are saying about the housing bubble and folks taking on unsustainable debt:
It is time for the greedy and the stupid to suffer. I'll be right their to cash them out of their debt and take their property for a HUGE discount.
Bankruptcy laws were changed just on time!
Exactly. Now people will have to pay what they owe.
I have a friend that did just that when property prices collapsed in the late 80's here in Austin. Bought Condo's with his credit cards.
He's a rich man
November 21, 2005
Vulture Alert (but can you blame them?)
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It is sad to me to see this once great company GM in such straits. Over the past 10 years those supposedly expert thinkers leading GM made stupid decisions. There is fortunately a leveling fact in the universe of truth. "Truth is independent is the sphere It is placed to act for itself"
Salaries of individuals all over USA have not increased as the price of housing. That is the truth. Consequences are coming and GM is part of those consequences
GM to Cut 30,000 Jobs, Close 9 Plants
Mon 10:28AM ET - Associated Press
General Motors Corp. will eliminate 30,000 jobs and close nine North American assembly, stamping and powertrain plants by 2008 as part of an effort to get production in line with demand and position the world's biggest automaker to start making money again after absorbing nearly $4 billion in losses so far this year.
think about the price of housing in those 9 markets with closing gm plants...
ouch
Are you sure you want to do promotion like this ? A PRWEB press release?
(PRWEB) November 21, 2005 -- While the meltdown in the US housing market continues, leading bubble blog HousingPanic.Blogspot.com recaps the news of the week, allowing its readers to understand and react
Hmmm. Even the Rolling Stones didn't leap to the distinction of a "leading" band within weeks of formation.
Cole @ The Boy in the Big Housing Bubble
Vultures? Gee, that's such a negative term for someone that currently has a large cash position but prefers to stay out of the market.
Don't make any mistakes, when the market tumbles and prices fall, affordability will still be difficult for many.
Why? Lending standards are going to be significantly tightened. Only those currently sitting on large amounts of cash are going to be able to play the 'buy low' game.
Cash will certainly be king. Who will be doing the buying? Likely not the current cash-strapped Joe Sixpack, that is for sure.
Are these people vultures? No, hardly. Successful businesspeople and investors? Absolutely.
Grim
Northern New Jersey Real Estate Bubble
marketing, baby, marketing
but hey, it is a good blog, eh?
I embrace my inner vulture - cash is king and will be more so in 2007, when HUD homes galore will be on the market
Nothing wrong with being a vulture - part of nature
I've got some $200 a share PETS.com and also some quepasa.com, some worldcom, some Cisco and some Enron
Kinda like having a condo being built in miami, a 50 year old house in the ghetto in LA (now worth $700k) and some REIT stocks, eh?
I've got some $200 a share PETS.com and also some quepasa.com, some worldcom, some Cisco and some Enron
Yes, but I bet you are not in debt to your eyeballs while you hold those stocks. And I bet you don't have to make monthly payments on them while you wait for their selling price to come back up.
I'm glad I don't live in my biggest financial mistake and drain. Imagine waking up in a new condo you just bought knowing every night costs you another $1000
Math: Buy at top at $600,000. Losing 1% a month minimum or $6,000 / 30 = $200. Cost of owning is $5,000, or $3,000 above rent value (thus loss) of $100 per night.
So each night, losing $300.
Ouch. Could stay at the W for that, with room service!
marketing, baby, marketing
So, how did you get this kind of exposure so quickly? For my part, I was hoping word of mouth would work; I'm not sure it has. Should I be so shameless as to just plaster links to my blog everywhere I can think of?
Of course my target audience is one small, way over-priced CA county..
PR is the way to go - gotta tell the world if you're doing something you think the world should see/know/buy
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