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| The economy, is it good or bad. (Page 114/181) |
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fierobear
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DEC 29, 04:08 AM
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| quote | Originally posted by 84Bill:
Man I hope so..... Been wanting my own place for years and this time no biotch!!!!
I'm thinking about another 5 or more years of this before the up turn. I've seen this same thing before back in the 80's
Sheriff sales and foreclosures... Just never had the cash to do it back then.. 
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It is HIGHLY unlikely that the downturn will last 5 years. My best - somewhat educated, being that I'm a real estate investor - guess is that we're looking at 1 to 1.5 years before we see R/E on the upswing again. And that's a *conservative* estimate, from a conservative investor. It *could* be sooner. 2008 will tell the tale. The people with the subprime ARMs have to shake out of the market. Until that scenario is played out, the bottom is still coming.
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84Bill
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DEC 29, 04:09 AM
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| quote | Originally posted by fierobear:
Good bye flippers, hello rentals. You ready, pokey?
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Maybe you guys can get Todd to manage your properties and collect the rent for ya 
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fierobear
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DEC 29, 04:14 AM
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| quote | Originally posted by 84Bill:
Maybe you guys can get Todd to manage your properties and collect the rent for ya |
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We don't need to. All we need him to do is his job as a realtor, which he does well. Pokey and I will manage just fine.
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84Bill
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DEC 29, 04:22 AM
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| quote | Originally posted by fierobear:
We don't need to. All we need him to do is his job as a realtor, which he does well. Pokey and I will manage just fine.
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Yeah.. but uhhh housing sales aren't doing as well as they were las year so like whats he going to do hold the signs advertising your rentals?
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pokeyfiero
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DEC 29, 03:26 PM
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| quote | Originally posted by fierobear:
Good bye flippers, hello rentals. You ready, pokey?
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I think that the every door closing thing is true but there are going to be fewer and fewer doors in this country for people with less resources. I have some resources now and intend to multiply them as fast as I can because the usefulness of them will degrade as our condition degrades to other country's.
I have come to the conclusion that the people in this country are not going to wake up and fear for their country and their lives and only those that prepare to be a raper and pillager will have a chance at such a sought after position.
Being a raper and pillager of society isn't just something I can apply for. I will need the power and equity behind me to take advantage of the times. Obviously there are going to be bigger fish swimming in the blood so it is important that I grow large enough to protect myself before all the money of the middle class is taken.
Position is everything. This reverse evolution of our ethics,morals,education,experience and history will cost plenty and I hope to be a collector of that expense rather than a debtor.
As I see it; as I try to see it; I will be able to inflict some humanity on the ones that decided to throw thier standing in this world away. It makes me feel better.
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Though I am branded a devil in priests clothing I cast not the raiment I wear for I am not beholden to any flock with which any color has been given to me.
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fierobear
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DEC 29, 04:41 PM
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| quote | Originally posted by 84Bill:
Yeah.. but uhhh housing sales aren't doing as well as they were las year so like whats he going to do hold the signs advertising your rentals? |
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Not necessary. There's roughly the same number of people, so if they aren't buying...where are they going to live?
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Red88FF
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DEC 29, 04:47 PM
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Good post Pokey, The ones that sit around complaining and fail to prepare will be the ones calling you greedy and selfish later,,,,hehehehe, such are they ways.
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84Bill
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DEC 29, 05:28 PM
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| quote | Originally posted by fierobear:
Not necessary. There's roughly the same number of people, so if they aren't buying...where are they going to live?
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They can live an apartment you rent them or a cardboard box. Either way I dont give a damn because I dont have a job selling houses or the problem of renting and the associated headaches of being a landlord / making sure they pay rent so I can pay the mortgage.
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fierobear
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DEC 29, 06:54 PM
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| quote | Originally posted by 84Bill:
They can live an apartment you rent them or a cardboard box. Either way I dont give a damn because I dont have a job selling houses or the problem of renting and the associated headaches of being a landlord / making sure they pay rent so I can pay the mortgage. |
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There's always risk. But I'd rather be an *owner* than *renter* any day. I *do* hope, however, that more people are able to afford to buy, once all this credit stuff shakes out.
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84Bill
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DEC 29, 07:46 PM
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| quote | Originally posted by fierobear:
There's always risk. But I'd rather be an *owner* than *renter* any day. I *do* hope, however, that more people are able to afford to buy, once all this credit stuff shakes out.
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Sure, I couldnt agree more owning is king. However many have lost their asses. If the people who lost their homes to foreclosure file for bankruptcy it will be about 7 years before they can buy again. If they just walk away with a bad credit mark it could take much longer. Then there is the job market. at present I wouldnt be thinking my job is secure with the COL rising and wages not keeping pace then there is the companies bottom line. I talk with people who have lost their jobs of 10 to 15 years. Then there are the self employed... they dont exactly have a bright future either with incomes falling off.[This message has been edited by 84Bill (edited 12-29-2007).]
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