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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: russwinter who wrote (38171)	8/9/2005 8:53:40 AM
From: KM	Respond to of 110194

I just negotiated a rental in Santa Fe, New Mexico. Got the guy to agree to a 3 year lease at a fixed rent with an option for me terminate early if I want (under certain circumstances), a purchase option, he can't list the place for sale while I live there, no realtors allowed in or on the property until I'm gone, no deposit. It's a beautiful place too on two acres. Did I mention this dumbass lives in Los Angeles and is an "investor?" LOL

To: russwinter who wrote (38171)	8/9/2005 9:03:59 AM
From: Ramsey Su	Read Replies (1) \| Respond to of 110194

Russ, I am in total disagreement with your advice regarding renting. <ggggg> Anyway, we had mixed signals last night. SAX, another subprime lender, confirmed how difficult that market is and the trend that many on this thread is expecting to happen. ACF, on the other hand, gave a different signal. As a subprime used car finance company, I was looking for them to give a signal on the sector of the population that may not be benefitting from any asset bubble, be it equities or real estate. There is no sign that delinquencies are creeping up, nor loss severity in spite of all the pressure on used car prices. IMH, yet another subprime lender, reports tonight. In the mean time, listen to this one if you have time. I like to hear what they have to say about current conditions. biz.yahoo.com Ramsey

To: russwinter who wrote (38171)	8/9/2005 9:15:19 AM
From: loantech	Respond to of 110194

just don't understand why anyone would even bother with anything else.> Because our payment is only 595 / m. And we like the neighborhood even though it is comprised of 185-250K homes.

To: russwinter who wrote (38171)	8/9/2005 11:54:52 AM
From: mishedlo	Read Replies (1) \| Respond to of 110194

My advise attempt to cash out and then rent. I no longer own any real estate, and rather enjoy the freedom of renting. I'm moving at the end of the month to a new place, that tickles my fancy a bit more, and just for the change. In most good West Coast locations you ought to be able to rent 500-750k places for $1500-2000 a month, and "investors" will love you. I just don't understand why anyone would even bother with anything else. I would concur with that advice in any hugely bubble area. Rentals of really nice homes in the Midwest would be much harder to find, at least around here and the bubbleness (except in or very near major cities) is not as great. Mish