I don't know about you, but I am getting pissed

[Flipx99 5,000+ posts]

I am crazy I guess.

The economy has many opportunities and I am exploring the purchase of my first home. Although the stock market doesn't pose many opportunities in the short term (unless you want to get more exotic than your traditional 401(k))....I see plenty of opportunities in housing.

The key to success in America is being prepared. As they say, chance favors the well prepared.

 

[Flipx99 5,000+ posts]

what if that person has to drive their vehicle for their job and has no option to drive a smaller more fuel efficient vehicle //content.invisioncic.com/y282845/emoticons/confused.gif.e820e0216602db4765798ac39d28caa9.gif

They are reimbursed for that if it is required through tax credits. Hell, they get a great deal on depreciation when they bought the damn thing.

 

[97gp 5,000+ posts]

what if that person has to drive their vehicle for their job and has no option to drive a smaller more fuel efficient vehicle //content.invisioncic.com/y282845/emoticons/confused.gif.e820e0216602db4765798ac39d28caa9.gif

They could find a new job and sell their beast for a car.

 

[Flipx99 5,000+ posts]

Hoss you nailed it. Our economy is crippled due to all the rediculous loans that were given out when things were rolling good. now it slowed down and all these tards that overborrowed have to pay increased rates and they just default on the loans.
hence Bear Stearns getting bought out and the feds lowering the rate in a last ditch effort to keep these huge corporations going.

The feds have more options than TSLF. Although I don't particularly like it...I do understand it's need. Without liquidity....we run into big problems.

 

[bonesninja 5,000+ posts]

I am crazy I guess.
The economy has many opportunities and I am exploring the purchase of my first home. Although the stock market doesn't pose many opportunities in the short term (unless you want to get more exotic than your traditional 401(k))....I see plenty of opportunities in housing.

The key to success in America is being prepared. As they say, chance favors the well prepared.

right now, there is a gold mine in the housing market, if you have the funds to weather the times or are smart enough to see the right investment.

Take my town for instance, there are approx. 3000 properties that one could purchase for under 20,000 that only need 10-15 grand worth of work to make them a 70-80,000 property. In the market right now,in my area, that is the price point that is selling like hot cakes. All these over-mortgaged people are trying to selli their 200-300,000 dollar home and moving into the 70-100,000 range so they can live out of debt and actually save money.

 

[phantom240 5,000+ posts]

the housing market colapse may have had a slight impact as well //content.invisioncic.com/y282845/emoticons/wink.gif.608e3ea05f1a9f98611af0861652f8fb.gif

Really? Because rent is still over twice as high as before Katrina here. Mind you, this isn't nationwide I realize...

what if that person has to drive their vehicle for their job and has no option to drive a smaller more fuel efficient vehicle //content.invisioncic.com/y282845/emoticons/confused.gif.e820e0216602db4765798ac39d28caa9.gif

Such is the case when I drive all over southern Louisiana in a 14mpg F-250 Turbo Diesel. Many times I need the capacity, but other times, I could drive my car where I need to go deliver stuff and get twice the fuel economy.

 

[hoss 5,000+ posts]

I am crazy I guess.
The economy has many opportunities and I am exploring the purchase of my first home. Although the stock market doesn't pose many opportunities in the short term (unless you want to get more exotic than your traditional 401(k))....I see plenty of opportunities in housing.

The key to success in America is being prepared. As they say, chance favors the well prepared.

doesnt make you crazy IMO. if you were to ask me, now is the time for anyone to buy if you have the opportunity. you can purchase now while prices are at a low, you might pay an inflated APR for a few years, but the chance to re-finance will come around and you can get a better rate (and possibly get some of your money back to re-invest/repair/remodel if you desire).

if you are in a state of preparedness like you mentioned, and are capable now is the time to move. im currently in the process of preparing my home to sell, probably not the best time to do it, but i have my reasoning behind why i am doing it. part of which being that i myself am about to go to contract within the next month on a new condo in another part of charlotte. the economy is still strong enough in my area that i will at the very least be able to break even on my investment. which i will be just fine to do that IMO //content.invisioncic.com/y282845/emoticons/smile.gif.1ebc41e1811405b213edfc4622c41e27.gif . i could still possibly even make a few thousand dollars, which will not be bad for owning just over a year.

hopefully my new investment will turn out to be a good purchse //content.invisioncic.com/y282845/emoticons/smile.gif.1ebc41e1811405b213edfc4622c41e27.gif

 

[Flipx99 5,000+ posts]

right now, there is a gold mine in the housing market, if you have the funds to weather the times or are smart enough to see the right investment.
Take my town for instance, there are approx. 3000 properties that one could purchase for under 20,000 that only need 10-15 grand worth of work to make them a 70-80,000 property. In the market right now,in my area, that is the price point that is selling like hot cakes. All these over-mortgaged people are trying to selli their 200-300,000 dollar home and moving into the 70-100,000 range so they can live out of debt and actually save money.

Then what is the problem?

 

[bonesninja 5,000+ posts]

You must be high.//content.invisioncic.com/y282845/emoticons/wow.gif.23d729408e9177caa2a0ed6a2ba6588e.gif

no,m i'm realistic....if you're *****ing about the economy being ruined....quit wasting your money.

Me on the other hand, don't ***** about it and i have enough cash to spend whatever i want to on car audio.....and i own my own house, cars and have 3 kids.

 

[hoss 5,000+ posts]

They are reimbursed for that if it is required through tax credits. Hell, they get a great deal on depreciation when they bought the damn thing.

they often do get re-imbursed, but we can still complain about it //content.invisioncic.com/y282845/emoticons/tongue.gif.6130eb82179565f6db8d26d6001dcd24.gif

They could find a new job and sell their beast for a car.

how much sense would it make to quit a job just because gas is expensive... i was only playing devils advocate with my original comment though //content.invisioncic.com/y282845/emoticons/smile.gif.1ebc41e1811405b213edfc4622c41e27.gif

 

[Flipx99 5,000+ posts]

doesnt make you crazy IMO. if you were to ask me, now is the time for anyone to buy if you have the opportunity. you can purchase now while prices are at a low, you might pay an inflated APR for a few years, but the chance to re-finance will come around and you can get a better rate (and possibly get some of your money back to re-invest/repair/remodel if you desire).
if you are in a state of preparedness like you mentioned, and are capable now is the time to move. im currently in the process of preparing my home to sell, probably not the best time to do it, but i have my reasoning behind why i am doing it. part of which being that i myself am about to go to contract within the next month on a new condo in another part of charlotte. the economy is still strong enough in my area that i will at the very least be able to break even on my investment. which i will be just fine to do that IMO //content.invisioncic.com/y282845/emoticons/smile.gif.1ebc41e1811405b213edfc4622c41e27.gif . i could still possibly even make a few thousand dollars, which will not be bad for owning just over a year.

hopefully my new investment will turn out to be a good purchse //content.invisioncic.com/y282845/emoticons/smile.gif.1ebc41e1811405b213edfc4622c41e27.gif

I understand your situation (from CT)....and there is much that I can think of that would have prevented it. I just hope to not find myself in a similar situation. I am pretty confident my job is secure, but you never really know....especially with Iraq spending.

 

[bonesninja 5,000+ posts]

Then what is the problem?

For who??....i'm currently working a deal to purchase some of these said properties...well myself and a small group of silent partners. I never put up my own money when i don't have to

 

[Scoobydoo 5,000+ posts]

as a person who drives my own vehicle for work i can say gas prices ****, but considering i get paid 50.5 cents per mile because of it i dont complain

 

[hoss 5,000+ posts]

I understand your situation (from CT)....and there is much that I can think of that would have prevented it. I just hope to not find myself in a similar situation. I am pretty confident my job is secure, but you never really know....especially with Iraq spending.

yeah, there was alot that could have prevented it, and looking back at the situation there are things i wish i had done differently...

it could have made alot of differences in alot of ways, but the main reason im selling my house is not for the reason you are refering to, sort of. i am still within my means of affordability, but with going to contract on my new place, i would rather go ahead and get out of my house so i dont have to worry about it not selling after i buy my new place. that, and i can downsize to an apt for a year, save some money, and pay off a little bit of debt that i did manage to acrue while i was unemployed.

 

[Flipx99 5,000+ posts]

Oh I see.

SInce you know I am in the market, I'd rather learn from some of your mistakes than making them myself if you don't mind explaining.