- Joined
- May 2, 2002
- Professional Status
- Certified General Appraiser
- State
- Arkansas
"The appraisal scandal will explode soon in the mainstream media"
hmmm.
hmmm.
Bobby Bucks said:This is nice bubble read from the contrarian investors who predicted the collapse of the Soviet Union, the massive migration within the US and the rise of terrorism in the West. Mogg & Davidson missed with their 90’s crash prediction, but for the long haul, they’ve been pretty accurate. For those who know the world will end locally, there is always an option, move.
http://www.isecureonline.com/Reports/DRI/WDRIG100/
Fannie Mae and Freddie Mac are the giant mortgage lenders behind $4 trillion of housing loans. These institutions are guilty of manipulations that make the folks at Enron look like a bunch of Boy Scouts. They've cooked their books, concealed huge losses, paid off politicians, and lied to investors every which way from Sunday.
I was kind of thinking the same thing when I got to this part, Roger:rogerwatland said:Oh BS. So CA slides into the ocean and FL sinks below sea level and Nevada implodes? Iowans will still grow corn and most Americans will need a place to live.
And, the reason I was thinking that, is becuase I still need a place to live.In fact, your house is probably losing value and you don't even know it. The truth is being hidden from you. In a few months, it will be official and everyone will have to face it.
Well, not quite everybody. When I was selling insurance, a wise mentor told me "a home is not an investment, it is an expense... you need a place to live, and assuming the expense of buying and maintaining a home is one of the best ways to meet that need, because in owning, you are building equity and recovering part of your expense. A home is not an investment, it is a store of wealth within an expense. If you want to invest in real estate, don't try to live in your investment."Everybody, including me, looks at a home as an investment. There's nothing wrong with that. Home values have gone up for decades, and most of us have made good money.
The Chicago Mercantile Exchange and a company run by Robert J. Shiller, a Yale University economist, operate a futures market for home prices in 10 big American cities. While trading is light, investors are betting that home prices in all 10 cities will be lower in May 2007 than a year earlier; the expected declines range from 3 percent in Denver to 7 percent in San Francisco.
expected declines range from 3 percent in Denver to 7 percent in San Francisco.
Roger, may I guess that you don't understand the nature of a future's contract? Or what they represent? Let me show you the latest chart put out by Reuters News.rogerwatland said:That is less than the normal spring increases in lots of places for a few years in a row BFD
Steve I’ve heard variations of that advice from different sources over the years and I suppose it may apply to someone not in this business. The guy who told you that was in the insurance business, correct? He probably relies on URARs for underwriting homeowner policies. If one lives in an over improvement in a no growth neighborhood maybe it holds true; however, if your primary residence is appreciating at a rate that more than offsets any additional expenses incurred ,it could be considered an investment. Furthermore, if one exercises that part of the IRS tax code occasionally which permits a gain on your primary residence with no tax, it can be an excellent investment vehicle. Maybe the secret is not living in bubbleville.Steve Owen said:When I was selling insurance, a wise mentor told me "a home is not an investment, it is an expense...
Roger, may I guess that you don't understand the nature of a future's contract? Or what they represent? Let me show you the latest chart put out by Reuters News.
Maybe the only sure bet here is the direction is down and the only argument is by how much, how soon?