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Originally Posted by Alansglide
I agree with most of your post Tabs. This is by no means my final stop but moving here does give me time to think and my home value has increased in the short time I've been here.
Another friend who lives here and I have been talking about the hill country in Texas . As a side note , he mentioned he had some killer sausage and was going to give me a frozen brick of it to take home .  |
I moved her in May of 03...by the Spring of 04 my house went up 83.47% in value. At the peak value in 06 it had increased by 97.47% in value. At the low in 12, it had decreased 24.36% from what I had paid for it. At that point in early 12 home prices were crumbling..and if left to continue the value of residential RE in the USA would have gone into the abyss..as in wiped out.
Figure it out if you bought a house for 500K had lets say a 400K mortgage and the house was now worth lets say 100K...you are 300K UNDERWATER on the mortgage..that is the kind of thing that was happening...PEOPLE WERE WALKING AWAY FROM THOSE MORTGAGES...whole neighborhoods of 100's of houses here in LV were FORECLOSED upon because people walked away. Or stopped paying the mortgage until they were evicted.. I am talkin about 850K houses on Golf Courses in LV in 07.
The kicker in this is that there are still a lot of those houses that are STILL EMPTY...after more than 10 years..the lights are on and the ceiling fan is twirling but no body lives there. I can drive you by those houses...to show you.
What save our miserable azzes in 2012 is that the FED instituted QE3 which included 45B a month in Mortgage Backed securities and 40B in US Treasuries. ...otherwise you Boyz wouldn't be smilin right right now but cryin the blues while taking your fkin Opiods...
I have been hammerin away at this for more than a decade..but I keep gettin the bird flipped at me...by the smiling faces who think they are doin swell in Equities, RE and or their own lil patch of the economy.
I am a fkin Macro Econ Boy..I am gud at it..I can construct and deconstruct this shyte in the abstract in my sleep. It is an equation in my head, it is like a swiss watch ticking away with all of these moving pieces moving through space and time...and I am going Uhh ohhh we is movin like a little Dingy in the current to Niagra Falls... we are in a "Twilight Zone" atmosphere tottering on the brink of the abyss...
What I am workin on and I may run out of time is to get my azz out of this house and into a trailer on the desert outside of Pahrump...this RE and Equity euphoria ain't gona last forever before the plunge into the deep. If I don't make it I am never gona be able to move..
I listened carefully to what my parents and relatives had to say about the Depression..it was like wrestling with a GD Grizzly Bear with your bare hands. Then I compare that with what is going on today and know this time it is gona be a lot worse cause the USD ..World Reserve Currency is fkin used toilette paper.
That notion is virtually inconceivable for Americans to grasp, because they have never gone through a currency collapse like Brazil, Mexico, Argentina, Zimbawe among others. The GD USD has been the rock of Gibralter to them..steady and true...Guess what NOW IT AIN"T NO MO..
Apple is fkin leveraged to the eyeballs even with 200B in cash in the bank..they can increase their market cap by moe holding on to those stock buy back shares than they can make selling product. Disney is another one...get the idear...
It is time to go check on my smoking sausage..