fxfox Posted September 1, 2008 Report Share Posted September 1, 2008 Would love to know the reasoning of buying a house in another country that at minimum requires an expensive airplane trip to go visit. Even at $190k, that's still a chunk of change out of the family budget every month. Then there are all the issues of long distance ownership, taxes, and insurance. 684918[/snapback] I think that they key factor here is that you dont get a house in Germany for 190k. People are used to prices which begin at 300k and thats not in regions like Frankfurt, Hamburg, Munich and other expensive places like my beloved hometown. In such places prices begin at 500k and more. So Germans beleive that 190k is cheap. Since Spain housing bubble did also pop i would guess that there is serious demand by Germans too, which would makje much more sense. The flight to Mallorca only last 2 hours, so you can fly on friday evening to Mallorca and return sunday evening and would have had a wonderfull weekend on sunny Mallorca. That you cant do when you have to fly to Florida. So i really dont understand why there is such demand by Germans in Florida. Link to comment Share on other sites More sharing options...
quanta Posted September 1, 2008 Report Share Posted September 1, 2008 Idle hands are the devil's workshop. Thank God this is the last holiday weekend for awhile. 684922[/snapback] Bellwethers - Jeez TOL!!!??? Link to comment Share on other sites More sharing options...
Brisbane Bear Posted September 1, 2008 Report Share Posted September 1, 2008 Mish has an interesting post today. House prices in California may not bottom for years. Australian house prices are still defying gravity. But when they do collapse,I suspect they will stay low for years as well. The volume of houses hitting the market is growing daily. It is staggering to see how many houses are for sale in my neck of the woods. Something has to give sooner rather than later imho. http://globaleconomicanalysis.blogspot.com/ Link to comment Share on other sites More sharing options...
fxfox Posted September 1, 2008 Report Share Posted September 1, 2008 I would love to have a house on Mallorca. Lovely island and still not too expensive. Unlike St. Tropez and other "places to be" in southern Europe. Only 2 hours to fly. Perfect. Doc, you say when the low is in in Florida, ok? I gonna buy then and rsell to some German J6P for double the price within 1 year. Link to comment Share on other sites More sharing options...
Lemur Posted September 1, 2008 Report Share Posted September 1, 2008 Would love to know the reasoning of buying a house in another country that at minimum requires an expensive airplane trip to go visit. Even at $190k, that's still a chunk of change out of the family budget every month. Then there are all the issues of long distance ownership, taxes, and insurance. 684918[/snapback] .... not to mention the hurricanes. Link to comment Share on other sites More sharing options...
Lemur Posted September 1, 2008 Report Share Posted September 1, 2008 ok, here is my opinion on the Pound: GBP/USD it is Dover Sole (daily RSI below 30 criteria) since Aug 11, then it was 1000 pips higher. When a stock/security/currency is storngly trending then you can throw overbought/Dover Sole indicators into the garbage can. It lost the uptrend, it lost the channel and now t even lost the 38 fibo at 1.8304 without any major fight. Technically - and that is what finally counts - GBP/USD is effed and has next support not before 1.7422 (minor chance is that 1.8000 will hold, we dipped below that today, but today was low volume day) zoom: 684917[/snapback] Looks bad .. especially for me since I have a lot of my funds in GBP with brokers in London (ouch!). Thats said, headlines about the fate of the pound are all over the airways and the UK newspapers. This is usually the end of the trend. But have gotten burnt trying to catch a bottom on these things lately so who knows? Link to comment Share on other sites More sharing options...
hokahay Posted September 1, 2008 Report Share Posted September 1, 2008 I would love to have a house on Mallorca. Lovely island and still not too expensive. Unlike St. Tropez and other "places to be" in southern Europe. Only 2 hours to fly. Perfect. Doc, you say when the low is in in Florida, ok? I gonna buy then and rsell to some German J6P for double the price within 1 year. 684930[/snapback] After the last big pancake, it took over thirty years before starting to recover. http://floridahistory.org/landboom.htm Of course, money was still tied to gold back then. Link to comment Share on other sites More sharing options...
shorty Posted September 1, 2008 Report Share Posted September 1, 2008 Monday night session: mild bonar fer stock fraudexes quadruple buckoff fer crude New Orleans is still on the map now two million people gotta refill their cars fer another $70 pain-at-the-pump spankin', turn 'em around and drive 'em back home windfall profits in both directions fer Mom and Pop gas stations and quickstop convenience food stores sellin' coffee and soda and chips and cookies and Tylenol etc. at rapacious markups fleecin' the sheep herd fer whatever the traffic will bear Link to comment Share on other sites More sharing options...
Jetlag Posted September 1, 2008 Report Share Posted September 1, 2008 AGAIN a reportage on german tv about German J6P's who buy houses in Florida. There was a house which came down in price from 370k USD to 190k USD. Thats the second reportage within a few days about that topic on german tv. The question is: Will those germans be the bagholders soon, or did they buy for a reasonable price? Is 50% down a serious downmove? Is 190k USD a total overvaluation? A house prices in the US basically cheaper in Germany and can it be that those germans dont get that? Questions over questions... ... i subscribe to several free newsletters and at the end of last year/early this year almost every newsletter i got in my email was about commodities. Email newsletters are the barbor of our time. 684910[/snapback] Best case scenario: He borrowed Yen to buy the house, next japanese gubermint cuts rates down to ZIRP again and successfully plummets the Yen's value against all currencies trying (yet again) to get their economy out of the decades long recession. President McGain and Ben Burnhanky avoid the widely hyped deep recession so many had feared, emerging markets get whacked (yet again) and the Dollah regains its place as the prime currency for storage of value racing back to highs against the Euro. The German dude's investment is now worth 740k USD which translates back to EUR 925k since the EUR/USD rate now around 0.80. Worst case scenario: He borrowed Dollahs to buy the house. President McGain and Ben Burnhanky are powerless against the deep depression created by decades of bubalicious irrational exuberance that trigger a widespread disbelieve not only in dollahs but in currencies in general causing rates to sky rocket while fx rates don't change much at all (after all one butt wipe equals one butt wipe, maybe countries with bigger bank notes get a better conversion rate?). Butt hard ASSets are no safe haven as the deflationist spiral takes no prisoners. Incapable to service his debt the German dude decides to stop paying and walks away from his Floriduh home, unbeknownst to him that debtors prison had been reestablished in the US he gets nailed and spends his last years in a hard labor camp. Link to comment Share on other sites More sharing options...
T_Slim Posted September 1, 2008 Report Share Posted September 1, 2008 The Pound is crashing. And my order didn't get filled. Link to comment Share on other sites More sharing options...
T_Slim Posted September 1, 2008 Report Share Posted September 1, 2008 Lot of volatility going own right now with the currencies. Weird. Link to comment Share on other sites More sharing options...
hokahay Posted September 1, 2008 Report Share Posted September 1, 2008 Congrats to the lovely young lady and her lucky soon-to-be hubby! 684908[/snapback] But the choice has been made, so the question now is: Does Palin really have what it takes to carry out the duties of vice president of the United States? Specifically, would she go moose-hunting with lawyers? Because if so, let's vote her in NOW. http://www.miamiherald.com/living/columnis...ory/666920.html Sarah Palin, who has been governor of Alaska for two years, before which she was mayor of the Alaskan city of Wasilla, which has the same total number of households as John McCain. And it turns out Berry is a weekEnd Stoolie too! Speaking of which: I am shocked to report that there are lavish parties being held here, financed by huge evil corporations giving away free food and liquor to advance their evil corporate agendas. http://www.miamiherald.com/living/columnis...ory/657456.html Link to comment Share on other sites More sharing options...
cwd Posted September 1, 2008 Report Share Posted September 1, 2008 another chart from the same site. 684886[/snapback] It decisively broke that trendline today on the electtonic exchanges. Link to comment Share on other sites More sharing options...
cwd Posted September 1, 2008 Report Share Posted September 1, 2008 $35 on UNG used to be support, if this nonsense keeps up it is going to become resistance.....BWAHAHAHHAHA I think spot UNG may see a $6-handle before things stabilize 684896[/snapback] I think that is a possibility unless we get a real cold winter. Here is some food for thought. Drop in solar activity has potential effect for climate on earth. The sun has reached a milestone not seen for nearly 100 years: an entire month has passed without a single visible sunspot being noted. The event is significant as many climatologists now believe solar magnetic activity ? which determines the number of sunspots -- is an influencing factor for climate on earth. According to data from Mount Wilson Observatory, UCLA, more than an entire month has passed without a spot. The last time such an event occurred was June of 1913. Sunspot data has been collected since 1749. http://www.dailytech.com/Sun+Makes+History...rticle12823.htm Link to comment Share on other sites More sharing options...
fxfox Posted September 1, 2008 Report Share Posted September 1, 2008 GBP gets totally and reletnless slaughtered. This is one of the most dramatic moves of a major corrency i have ever seen. This really looks like Soros back in 93. The BoE must intervene now, best in a concerted action with ECB and FED, or "speculators" will dirve the Pound to levels we can only hardly imagine. This is really dramatic here, and yes, we can speak of a major currency crisis. Link to comment Share on other sites More sharing options...
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