"Dick Chisel" wrote in message
et...

All well and good, but paying insane prices for real estate is a
"bubble" and when the bubble bursts (as they all do), the -ENTIRE-
country gets hurt...even maroons in Holland Michigan.

(Or doesn't your feeble brain remember how bad the -country- got hurt
when the "dot com" bubble went bust????)


The whole country got hurt? The dot com bust didn't effect me one bit.

But I thought the topic was related to paying "too much", not selling. The
people who were paying "too much" didn't know they paid too much until the
after the bust.

If the whole country gets hurt, how might we protect the innocent victims of
these periodic busts? Perhaps punish those would sell "too cheap"?

Frank Dresser

That is part of what the War on terrorism is about,America is not going
to wind up paying euros for oil.The U.S.housing market always has it's
ups and downs.There is a building boom going on right now here in
Jackson and the surounding suburb cities
(Richland,Brandon,Pearl,Madison,Ridgeland,Byram,Fl owood etc) of
Jackson.I hope Jackson never turns into one of those great big cities
that are so full of crap and crazy people.One ''crazy'' (me) around here
is enough.
cuhulin

In article
,
"Frank Dresser" wrote:

"Dick Chisel" wrote in message
et...

All well and good, but paying insane prices for real estate is a
"bubble" and when the bubble bursts (as they all do), the -ENTIRE-
country gets hurt...even maroons in Holland Michigan.

(Or doesn't your feeble brain remember how bad the -country- got hurt
when the "dot com" bubble went bust????)


The whole country got hurt? The dot com bust didn't effect me one bit.

Snip

I wish I could say the same. Screwed up my work life.

--
Telamon
Ventura, California

I wish I could say the same. Screwed up my work life.


That's what you get for working in lala land (i.e. dot com land).
While you were out investing in .com stock and investing your career in
them, I worked defense, bought real estate, and pursued my Ph. D.
Suffice to say, I likely won't have to worry about work for the rest of
my life. I'm sure 1999 was really good to you though.

Yours In Chirst,
John

The only people that will seriously get hurt are those that have
mortgages/owe money. Esp adjustable or interest-only mortgages.

I purposely bought a small house that I could afford to pay cash for.
Five years ago, people told me I was nuts, didn't I want to make
appreciation money on the biggest house I could afford?

No. I refused to be buried in debt. As the job market disappears and
wages go down, I will still be able to live. I may not have 3 bedrooms
and 2 baths....but at least I can pay the bills with the lower wages
being paid in this country now days.




On Thu, 24 Aug 2006 01:02:19 GMT, Dick Chisel wrote:


All well and good, but paying insane prices for real estate is a
"bubble" and when the bubble bursts (as they all do), the -ENTIRE-
country gets hurt...even maroons in Holland Michigan.

(Or doesn't your feeble brain remember how bad the -country- got hurt
when the "dot com" bubble went bust????)

LJ wrote:
The only people that will seriously get hurt are those that have
mortgages/owe money. Esp adjustable or interest-only mortgages.

I purposely bought a small house that I could afford to pay cash for.
Five years ago, people told me I was nuts, didn't I want to make
appreciation money on the biggest house I could afford?

No. I refused to be buried in debt. As the job market disappears and
wages go down, I will still be able to live. I may not have 3 bedrooms
and 2 baths....but at least I can pay the bills with the lower wages
being paid in this country now days.

I sincerely and whole-heartedly congratulate you! (and too bad there
aren't a whole lot more like you).

Unfortunately (and as I stated previously), you and those like you are
sadly a very small minority. A large portion of the country is in debt
up to their eyeballs and are teetering on the edge of financial ruin.
Will the housing bubble going bust push them over the edge???

(note for the nit pickers: that's just a -rhetorical- question).

P.S. from your comments above, I'm glad to see you realize that the job
market is disappearing and that wages are going down. Many others on
this newsgroup haven't quite figured that out yet.

Dick Chisel wrote:

LJ wrote:
The only people that will seriously get hurt are those that have
mortgages/owe money. Esp adjustable or interest-only mortgages.

I purposely bought a small house that I could afford to pay cash for.
Five years ago, people told me I was nuts, didn't I want to make
appreciation money on the biggest house I could afford?

No. I refused to be buried in debt. As the job market disappears and
wages go down, I will still be able to live. I may not have 3 bedrooms
and 2 baths....but at least I can pay the bills with the lower wages
being paid in this country now days.

I sincerely and whole-heartedly congratulate you! (and too bad there
aren't a whole lot more like you).

Unfortunately (and as I stated previously), you and those like you are
sadly a very small minority. A large portion of the country is in debt
up to their eyeballs and are teetering on the edge of financial ruin.
Will the housing bubble going bust push them over the edge???

(note for the nit pickers: that's just a -rhetorical- question).

P.S. from your comments above, I'm glad to see you realize that the job
market is disappearing and that wages are going down. Many others on
this newsgroup haven't quite figured that out yet.

But many of us have figured out how to use a SW radio which is more than you
seem to have done Grabowski.

dxAce
Michigan
USA

There are people who buy stupid in every Country on Earth.It's their
money.I say let them buy what they like.
cuhulin

mike maghakian wrote:
sometimes people complain when I point out people paying real stupid prices
for something on eBay.

over the last few years I have been saying how stupid people have been for
paying crazy prices for homes. I said they would be sorry in the end and it
is starting to happen:

this is from an MSN article on home sales:

I recently sold a house in Rochester Hills," Waquad says. "It was purchased
a year ago by the seller for $615,000 -- a newer house. He changed all the
appliances, the carpets and painted. He never lived in it. He must have
spent at least $20,000 to $30,000 fixing it. We got it for a buyer for
$440,000."

That's a perfect example of someone who was very late to the real
estate buying mania prevalent in many major cities for the past 5
years. I'm sure he was one of the last who got into a bidding war that
escalated many multiples over asking price. Unfortunately double digit
inflation disappeared and he couldn't flip the house at a profit.
There are many holders of over-priced real estate now.

Good story, but it doesn't tie well to collector prices people are
paying for radios on ebay.


the point is that there are consequences to being a stupid buyer. I am just
trying to get people to think before they throw away money.

The consequences to paying $500.00 for a Sony CRF320 are far far
different than the consequences of paying $750k for a house now worth
$500k.

wrote in :

On 23 Aug 2006 15:22:57 -0700, "John S." wrote:


mike maghakian wrote:
sometimes people complain when I point out people paying real stupid
prices for something on eBay.

over the last few years I have been saying how stupid people have been
for paying crazy prices for homes. I said they would be sorry in the
end and it is starting to happen:

this is from an MSN article on home sales:

I recently sold a house in Rochester Hills," Waquad says. "It was
purchased a year ago by the seller for $615,000 -- a newer house. He
changed all the appliances, the carpets and painted. He never lived in
it. He must have spent at least $20,000 to $30,000 fixing it. We got
it for a buyer for $440,000."

That's a perfect example of someone who was very late to the real
estate buying mania prevalent in many major cities for the past 5
years. I'm sure he was one of the last who got into a bidding war that
escalated many multiples over asking price. Unfortunately double digit
inflation disappeared and he couldn't flip the house at a profit.
There are many holders of over-priced real estate now.
or just made a bad choice in homes to flip
I flip home some myself and I am very carefull but I still burned
sometimes it is happens and you sould not be in that if you can't
aford to bet wrong from time to time


Has the president of your radio club ever flipped you off?


SC