satan writes:
uh…does Vox actually own a home or does he live with mommy? I mean the guy looks like he’s about…what? 16 years old? what could he possibly know about home ownership other than by proxy? what kind of ass kisser would ask such a thing???
I’m still your Daddy, pitchfork punk. (kiss, kiss on the guns). I buy low and I sell high. If the heat hasn’t fried your synapses, maybe you can figure out where I am on the home ownership curve today.
A time to live, a time to die
A time to laugh, a time to cry
A time to rent, a time to buy
It’s a little known fact that The Byrds were Austrians. By the way, Dread Pirate, don’t get your panties in a complete twist over the Denning report. Sure, it’s possible that he’s right, just as it’s possible that the email I received from a friend of someone who spent 30 years in the intelligence community is correct in saying that the election will be canceled this fall. It’s also possible that even if Denning is correct, he’s off by two years and housing prices will double between now and then as blow-off tops are notoriously hard to predict.
If you’re stretched into a difficult mortgage, I’d get out of it now and rent. If you’re simply living in a house that you can afford, that has doubled over the last few years, then what do you care if it drops 50 percent? Housing prices are basically inflation, and if your house goes up, then you’ll be paying more for a different house. It doesn’t really matter except for your ability to carry debt, which is always dangerous for any individual or corporation. Plenty of perfectly healthy, profitable companies have died because they took on too much debt.
I’m quite familiar with the FNME and FMAC situation and it does look, well, questionable. There’s always funny business going on with these quasi-government institutions, particularly those that control billions of dollars in assets. Then again, I’ve been expecting some form of financial disaster since about 1998, and other than the short stock bear from 2000 to 2002, we haven’t seen it. Remember, a) the world is always ending; and b) it hasn’t ended yet.
That being said, a few rifles, some dried food and a pile of gold coins never hurt anyone. Might even make some money if Prechter counted wrong and what he thought was a 5th wave was only a really big 3rd.