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.

Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: SilentZ who wrote (389500)	6/7/2008 11:31:15 AM
From: i-node	Respond to of 1574575

>>> You were alive in '29? Nope, but I've watched as purveyors of doom and gloom have predicted replays of '29 at least 10 different times. And the fact is they always underestimate just how resilient the economy is. In the 80s I saw people who had $100,000/year jobs with tech companies (at the time, pretty good money) walk away from $200,000 houses because the equity had dropped so much. I had a client who both 20 condo units at $60K and a year later watched them sell at foreclosure for $10K/each. Dallas real estate "crashed" in every sense of the word. But it comes back. It always does. Takes a few years. And the really smart people are those who are able to pull the trigger and know when to do it. Buy low, sell high. When this is over, the $500,000 homes in SFO that are being foreclosed in huge numbers will be back on the market and people will be making money on them. It is tough right now because the dollar is in the tank. The most important component of the solution to that problem is, IMO, energy independence.