cwd Posted October 3, 2007 Report Share Posted October 3, 2007 CNBS, the credit crunch is over. Hey Doc, did you hear that? Link to comment Share on other sites More sharing options...
linrom Posted October 3, 2007 Report Share Posted October 3, 2007 CNBS, the credit crunch is over. Hey Doc, did you hear that? 612445[/snapback] Canada does not count! Link to comment Share on other sites More sharing options...
MrHanky Posted October 3, 2007 Report Share Posted October 3, 2007 No grasp of reality in the real estate market.Looked again today.Banks and builders are not moving more than a few percent off of their asking prices. I guess I will give up looking till next year when they are forced to liqidate. The only thing I found was a new 700 sf condo for 120k brand new with granite and all appliances....hoa dues of $98 a month,taxes $100 a month.....would be cheaper than renting,but resale on a 1 bedroom has gotta be tough.If I bought something like that,i would save 3-4 k a year versus renting( but i'm afraid to never be able to sell it) any thoughts? Link to comment Share on other sites More sharing options...
Jimi Posted October 3, 2007 Report Share Posted October 3, 2007 Don't think this has been noted yet, but "Icky"-Gross offers some insufferable self-congratulations about having taught Fed officials the importance of cutting interest rates to support those holding credits: As Cramer was railing, I and other PIMCO professionals were attempting to describe to high-ranking Treasury and Fed officials the near-frozen commercial-paper markets and the draining confidence of bond and stock investors worldwide. It was Thursday, August 16. Stocks had closed down 210 points and were expected to open hundreds of points lower on Friday. The country?s largest mortgage originator, Countrywide Financial, was rumored to be in liquidation mode (it survived that crisis). This was to be Ben Bernanke?s first test, an opportunity to prove that he and his board of governors knew ?something? as opposed to ?nothing.? Pass the test he did, cutting the discount rate the next morning and calming markets in ensuing weeks. When Bernanke?s Fed met officially on September 18, it acted again and joined a convoy of global central bankers maneuvering to restore a semblance of normalcy to credit and equity markets. So far, so good. How We Saved Wall Street, and "You're Welcome" What's good for Pimp-Co. is good for 'merika. Link to comment Share on other sites More sharing options...
cwd Posted October 3, 2007 Report Share Posted October 3, 2007 The breakdown in WAG signals the beginning of the unraveling of the commercial real estate bubble. This company single handedly drove that bubble at least insofar as retail corner locations. I'm actually shocked that they survived as long as they have basing triple net leases on astronomical values. But they got top dollar when they sold the leaseholds enabling them to continue the game at ever higher and higher levels thanks to ever lower cap rates. There are going to be a hell of a lot of bagholders when this reverses. 612395[/snapback] IYR now at almost 50% retrace of the FEB- Aug down move. Just bought some leap putz Link to comment Share on other sites More sharing options...
Lemur Posted October 3, 2007 Report Share Posted October 3, 2007 No grasp of reality in the real estate market.Looked again today.Banks and builders are not moving more than a few percent off of their asking prices. I guess I will give up looking till next year when they are forced to liqidate. The only thing I found was a new 700 sf condo for 120k brand new with granite and all appliances....hoa dues of $98 a month,taxes $100 a month.....would be cheaper than renting,but resale on a 1 bedroom has gotta be tough.If I bought something like that,i would save 3-4 k a year versus renting( but i'm afraid to never be able to sell it) any thoughts? 612447[/snapback] Not worth buying a long term illiquid asset to save yourself a couple of grand a year. That amount will probably get eaten up in maintance/other property costs etc. Link to comment Share on other sites More sharing options...
cwd Posted October 3, 2007 Report Share Posted October 3, 2007 No grasp of reality in the real estate market.Looked again today.Banks and builders are not moving more than a few percent off of their asking prices. I guess I will give up looking till next year when they are forced to liqidate. The only thing I found was a new 700 sf condo for 120k brand new with granite and all appliances....hoa dues of $98 a month,taxes $100 a month.....would be cheaper than renting,but resale on a 1 bedroom has gotta be tough.If I bought something like that,i would save 3-4 k a year versus renting( but i'm afraid to never be able to sell it) any thoughts? 612447[/snapback] Mr. H did you see WYNN today? Link to comment Share on other sites More sharing options...
Sea urchin Posted October 3, 2007 Report Share Posted October 3, 2007 Look at the USD YEN run! 612335[/snapback] ... Japan is now in its second decade of deflation while experiencing strong economic growth, strong savings and high standard of living and no inflation despite importing virtually all its raw materials? I suppose that's why US can't label Japan as a currency manipulator since their INTEREST rate policy is driven by e-Con-comics reality only. 612368[/snapback] It's in THREE decades. There's little inflation in Japan... I wonder this is because it has China as a neighbor, right next to it in a sense. Many products come from China, like printers and key boards, both of which are cheaper in Japan than in the SF bay area. The last couple of years, I've noticed perishable food from China, which is surprising even to me. You can see them placed right next to the same Grow-in-Japan food in grocery stores, at least in Tokyo. For example, certain kinds of potates, which are popular in Japan, and, of course, gingers. Japanese-produced perishable food has a sign indicating "Grown-in-so and so areas in Japan" and those from China as "Grown-in-China." Prices of China produced foods are 2/3 to 1/2 of the prices of the Grown-in-Japans'. Some of the "Osenbe," rice crackers, are now produced in China, with the labels written in Japanese characters. This is also surprising because Chinese-made food used to be taste bad. I guess the manufacturers imported machines and production methods from Japan. These osenbe and other food labels are occasionally funny because of weird characters or wrong phonics but kinda interesting like... "morans." Nowadays, many of those cheap Chinese made products have found ways to be here in the Bay Area. If you have a chance to come to SF, you might want to drop by "Ichibankan" in Japan Town. That's where you'll see China made and sold in Japan products. Actually they are not bad. I start seeing sight-seeing people in the store, purchasing tid bids things. Link to comment Share on other sites More sharing options...
MrHanky Posted October 3, 2007 Report Share Posted October 3, 2007 No grasp of reality in the real estate market.Looked again today.Banks and builders are not moving more than a few percent off of their asking prices. I guess I will give up looking till next year when they are forced to liqidate. The only thing I found was a new 700 sf condo for 120k brand new with granite and all appliances....hoa dues of $98 a month,taxes $100 a month.....would be cheaper than renting,but resale on a 1 bedroom has gotta be tough.If I bought something like that,i would save 3-4 k a year versus renting( but i'm afraid to never be able to sell it) any thoughts? 612447[/snapback] Mr. H did you see WYNN today? 612451[/snapback] OOOOFAAAA...Had to happen sooner or later What a scam....the last few weeks macau is better than sliced bread,...now not so much????? what has changed in 24 hrs???...what a friggin scam,they just did a secondary at $158!!! Link to comment Share on other sites More sharing options...
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