August 25, 2006

Want to see what's really going on out there? Read this HP'ers post


Stories like this one warm HP's heart. More more more!

REM said...

Thanks to this blog, I have just taken the deposit I was going to put down on a new house here in Gilbert, AZ and paid off my credit cards.

My girlfriend and I had found what we thought was the best offer to build a house around these parts at $250,000. When we told the builder we were having second thoughts he knocked the price down to $210,000. $40,000!!!!

Something is not right here. I took it as an insult. God it is nice to be debt free and renting!

24 comments:

panicearly said...

That was a close one there REM.

enjoy your freedom

pmd said...

"debt free and renting"

It *is* pretty nice. Not completely stress-free, though... where do I park my (Monopoly[tm])money, what year should I think about buying again?

A lot of HP'rs think buying is anathema, but a single person paying 43% taxes thinks a mortgage might be worth it if the prices fell around 30%.

Oh, the other two challenges are avoiding taxes and resisting toys. For the latter, I shop a lot and pull the trigger maybe 5% of the time. On taxes, I keep thinking I need to veer over to F/S-exempt muni-MFs, but I'd sure like to hear from experienced others. (FWIW, I'm relatively conservative, no gold-buggering for me, like our beloved Keef).

keith said...

remember I'm out of gold myself, and facing the same quandry - where to put american dollars - I hate 'em!

Chris G said...

I would suggest short-term CD's and some AA or AAA-rated corporate bonds. I know Keith thinks interest rates will have to keep going up, but I disagree. Lowering rates means a decent return on those bonds.

For stocks, I'm thinking auto repair companies (less new cars sold) and education/retraining companies (people lose their jobs, some get retrained).

Anonymous said...

Companies with proven alternative energy solutions...solar and wind i mean ...maybe a good alternative.

Richard said...

"remember I'm out of gold myself, and facing the same quandry - where to put american dollars - I hate 'em!"

Buffet spent 4 Billion on a tool factory in Israel a few months back...

Ask him Kieth.

Richard said...

"paid off my credit cards"

why?

In the next 6 to 10 weeks gold is set to rocket to the moon.

What exactly did you learn from this blog...

How to be fearful?

Richard said...

and in 6 to 10 weeks Iran could shut off the pumps...

you may need that maoney...

I think we discussed that here..

Hey Keith did we discuss Iran here?? and the oil thing...

Anonymous said...

A double blessing.
Not only did this potential buyer avoid buying some cookie-cutter poorly built, non-descript stucco box,
but most importantly didn't get stuck
living in Gilbert, AZ...a shithole and dumping ground for losers, drifters and over-stretched American lower-class Wal-Mart type consumers.
Keith,

Is all this element native and reflective of Arizonans or did they move here from elsewhere? This is anecdotal, but my findings is that most of the fortune-seekers moving to Phoenix are mostly from the Midwest...Californinas are in a different class..brighter and more affluent...but a lot of the other transplants qualify as genetic mutants and Bush voters. How can America breed such people in the 21st century?

Anonymous said...

A double blessing.
Not only did this potential buyer avoid buying some cookie-cutter poorly built, non-descript stucco box,
but most importantly didn't get stuck
living in Gilbert, AZ...a shithole and dumping ground for losers, drifters and over-stretched American lower-class Wal-Mart type consumers.
Keith,

Is all this element native and reflective of Arizonans or did they move here from elsewhere? This is anecdotal, but my findings is that most of the fortune-seekers moving to Phoenix are mostly from the Midwest...Californinas are in a different class..brighter and more affluent...but a lot of the other transplants qualify as genetic mutants and Bush voters. How can America breed such people in the 21st century?

Inflate or die ben said...

You never had gold, just a electronic feeling that you did. Electrons denominated in dollars.

If Uncle Ben sez he wants rates to go through the roof when he talks today I may be able to buy more real gold. Come on ben, inflation inflation inflation!

Be careful out there said...

It's starting...

Hang Glider Pilot In Grave Condition After Shooting
Thu, 24 Aug '06

Unprovoked Attack Came Before Suicide
An unidentified man hang-gliding at San Francisco's Fort Funston is in critical condition after he and another hang-gliding enthusiast were shot by a man on the ground Monday.

In fact, the FBI says 59-year old Will Smith fired at three hang-gliders... before he turned the gun on himself. The attacks appeared unprovoked.

An off-duty police officer who happened to be in the national park at the time was keeping an eye on Smith... whom he said appeared out of place. Officers say before the attack, Smith confronted a dog-walker at the park, as well... but without violence.

That was before the distraught man -- who was reportedly bankrupt, and had just been evicted from his home -- opened fire with a .22 caliber pistol.

panicearly said...

im sure we`ll be seeing more articles like this that mention a bankruptcy or a foreclosure as back drop to crime and violence.
2007 summer urban riots?

REM said...

Here's a little something for ya....And I hate Bush as much as the next person....

KB Home said the Securities and Exchange Commission will conduct an informal inquiry into the company's stock option grants, the company said Thursday.

SEC to Investigate KB Homes option grants:

The company said Wednesday that it began an internal investigation of its past stock option granting practices. The investigation is due in part to four grants given to KB Home president Bruce Karatz between 1998 and 2001 that were dated at unusually low points in the stock price.

This just gets better and better...

autofx in Phx said...

Keith said...
remember I'm out of gold myself, and facing the same quandry - where to put american dollars - I hate 'em!
~
My dear boy, you simply need to learn to trade.

autofx in Phx said...

In the next 6 to 10 weeks gold is set to rocket to the moon.
~
I don't know about that, and I sure wouldn't bet on it.

Don't underestimate the effectiveness of desperate govt manipulations to keep the gold price contained and the dollar from collapsing.

Richard said...

"Don't underestimate the effectiveness of desperate govt manipulations to keep the gold price contained and the dollar from collapsing."

Well I am one of the few who actually believe a desperate government - that is desperate for oil - will go to war over it at ANY cost.

War=inflation

Gold=a sure bet

Now if you can convince me that we have enough oil to get through the next 5 years...maybe I would believe you.

I do believe the US will cange the color of money when we are paying $500 for a loaf of bread.

awaiting bubble rubble said...

Congratulations! Welcome to the club. I've been debt free for a couple of years but have quite a bit of cash to stash somewhere. I'm maxed out on options and stocks and have been buying short term CDs since rates rose above 5% but am getting too spread out and would also like an idea on how to invest in Swiss Francs. Like the others, I probably will buy something to live in once prices correct to the point where stuff starts to cash flow partly because I'm being taxed heavily. However, that would require a 40% correction and so far I've only seen 12% since 7/05 (in real terms, not MSM realtornews terms) here in So Cal. For now I need a good parking place for $200K. Any thoughts? FDPIX?

Anonymous said...

"When we told the builder we were having second thoughts he knocked the price down to $210,000. $40,000!!!!"

I paid mine for $185,000 last week in the same community! You must have "SUCKER" stamp on your forehead!

REM said...

I'm not sure how NOT taking the offer from the builder makes me a sucker....but I'll let you laugh it up now in your 1200sq/ft energy sucking stucco shack with a great view of your neighbor's bedroom and the dusty lots that haven't been filled yet, because in 6mos-1 year down the road you'll learn what all of us already know here. You'll be stuck in a house that is worth 10-20% less than you bought it for, while your property taxes and intrest rates continue to rise on the ARM loan you took out. Better hope your neighbor's wife is hot.....maybe that will help the depression that should start to sink in soon.....and I'm the sucker.....guess you gotta learn some how. Keith, do you charge for counseling? You could make a fortune off this kid in a year or so. All I ask is a 10% finders fee. LOL.

smugbastard2 said...

ANONOPUSS from above:
Memo: you are the sucker. Buying at the peak. Make sure you wash your hands when you get you ass handed to you, you stupid fuck.

Anonymous said...

Answer To
"awaiting bubble rubble"
...
Start listening to Jim Puplava
(financialsense.com) this site has downloadable mp3 broadcasts and tons of info on gold/energy/etc...
Jim Puplava puts his clients money in energy/gold/silver/natural resources, at the moment in consumer staples too.
For $200K parking in a safe spot subscribe to chris webber (weberglobal.net: subscription service) C.Weber guy sits in monaco and puts most of his money in foreign bonds: iceland( loss this year)/newzealand (previous years) etc.


Thanks for the blog

Anonymous said...

"I paid mine for $185,000 last week"

~~ just flip it for $225,000 today
~~ a cool $30,000 profit

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