Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Micawber who wrote (25718)	12/8/2004 5:08:10 PM
From: Elroy Jetson	Read Replies (3) \| Respond to of 306849

That's a quite a revisionist statement, "Real estate markets are built on debt". Believe it or not, Americans used to save up and buy their home for cash when they could afford it. Both of my Grandparents paid cash for their homes in Los Angeles. People often bought the lot first and expanded their home as their economic situation improved. I think you meant to say, "Since 1945 real estate markets have been built on debt, just like other previous speculative bubbles". .

To: Micawber who wrote (25718)	12/8/2004 5:19:53 PM
From: microhoogle!	Respond to of 306849

On an individual level, I think many people are fixated by debt level of the individual as opposed to the "realistic" net worth. Having said that - I don't see anything wrong with SUMA purchasing her house outright. My personal goal is to accumulate liquid assets quick enough to balance out the debt I incurred after purchasing my home and put them in low risk investments .

To: Micawber who wrote (25718)	12/9/2004 9:47:42 AM
From: Peter Joseph	Read Replies (2) \| Respond to of 306849

Re: I have real estate debt. I sleep like a baby. You haven't heard babies cry lately, have you? :-) The mortgage ponzi scheme must be the largest in the history of mankind, ever. Why else would you spend $1 to save $0.38 in taxes? Add ever-increasing property taxes, HOA and other ad-hoc fees. All this for 15/30 years for something that owns you. i remember feeling similarly giddy in early 2000 about my stock portfolio. Reality is coming. Even when the Fed is striving hard, raining helicopter dollars to keep the economy on life-support. ======== i am with Suma and Elroy on this. Living beneath one's means and having zero debt is a beautiful thing. Want to bet as to who sleeps better? :-) Oh, i see that this is in direct conflict with your day job. Even when it presents the colorful, mainstream view of the sheeple.