Members bailing?

[NSXAMG996TT]

Here in my area, 1 out of every 7 homes are in foreclosure. There are both winners & losers in such an unfortunate situation. Luckily, my patients are still able to hang onto their healthcare insurance in times of crisis. We've all witness the 2000 stock crash and now today's Housing Bust.

BTW, you should see the exotic inventory pilling up especially in SoCal.

 

[j.r]

Pretty soon oil will be more expensive than gold. Might want to check into that!

My thing is...only a blind man couldn't see this housing crisis loaming years ago. Heck, I remember almost 10 years ago discussing how long it would take for the housing market to collapse. Didn't take too long!

Seriously, people are selling shacks in California for hundreds of thousands of dollars. The housing market inflated itself and crashed on itself. Everyone tried to make a quick dollar by jacking up the prices of their houses by 2x, 3x, 4x and even 10x what they paid for over the last 20 or so years. Well time has finally caught up and prices are getting more REALISTIC. Sorry, I'm not spending 750,000 DOLLARS on a 3 bedroom, 2,000 square foot house. Are you INSANE?! And 750,000 dollars for 2,000 square feet is a bargain in some places! I know it hurts for the people who paid more than what it's worth these days, but you should've saw it coming. Also, a lot of these home buyers who really had no business buying a home in the first place were pretty dumb to get locked into Adjustable rate and Subprime mortgages. If you can't keep your credit in check then don't buy an expensive house!

I laugh every time I see one of those "Move to California" commercials. Like hell I'm going to do something that stupid. Keep your earthquakes, wildfires, mudslides, power outages, and over priced houses!

 

[docjohn]

And milk will still be more expensive than gas:wink:

 

[NSXFRIEND]

I have some gold teeth but most of my money is in aluminium. Beer cans mostly.

lol wife is gona be dentist in two months have you priced around for a platnum grill:biggrin:

Root canal $2k outa insurance insane.. Perhaps investing in dental products is not a bad idea, then again healthcare is second biggest GDP after armorments:tongue:

 

[NimbleSexyXquisite]

http://www.nsxprime.com/forums/showthread.php?t=102270

Gas Inflation!?

 

[NSX GT]

Damn,

I knew I should have kept that 10yr. old Gold Filling that my dentist removed. Maybe I should have given it to him as a form of payment.(J/K) LOL :tongue:

 

[legendr35]

I sold my NSX recently and bought a car that saves more gas. And also I wanted something different

 

[NSXFRIEND]

I sold my NSX recently and bought one that saves more gas. And also I wanted something different

You sold the beautiful yellow 02 also?

http://www.nsxprime.com/forums/showthread.php?t=102230

 

[Jetpilot3]

Its interesting to see what's happening in the U.S. housing market. I know expats here in Dubai that have switched their focus from buying in Dubai to buying in the U.S. I myself - I'm just banking my pennies until a crash happens.

I predict Dubai will also see a housing crash because there are a ton of developments coming up from the ground and not alot of willing buyers other than the folks who buy floors worth of property. These speculators then hope that someone comes around to purchase. Developers previously held the sales tactic of releasing only a few selected floors to the public and when you inquired it was the typical "Oh we only have this apartment and this one left"...yet when you go back 3 weeks later suddenly more appear on different floors. Also you look at the completed buildings in the evenings and you hardly see more than 1/3 of the buildings lighing on.

Hmmm...plus the real estate sector in Dubai is so pumped up that it is now quoted to be 2nd to London in terms of property prices - this isn't no London let me tell you. The only thing going for Dubai is beaches (even they are dwindling) and never ending sunny days. Its becoming more expensive to live here and this is something I've noticed in the past 2 years. The funny part of this market is you've got the news and media stating that there's a continual housing shortage yet there are a ton of apartments ready for rental but the landlords are still asking premiums that people won't pay - that's why there's a shortage. The way Dubai works is that your employer pays you a housing allowance to live in an apartment or villa and with that you need to find suitable living. Some expats like myself are thinking of buying and using our living allowance to pay the mortgage payments but the banks are not willing to take a risk (sign that the market is way over inflated) on the market so they demand you put down at least 10 - 20%. Or, they will give you the lovely 8-10% mortgage - No thanks!

So when people talk about the housing market in the U.S. inflating itself well we are seeing the signs of that here.

 

[sahtt]

Just saw Cramer's "CRAZY MONEY" rant a couple of days on youtube and what a idiot!

told everyone they are crazy if they shold BS stocks and that BS had no liquidity problems.

"DONT MOVE YOUR MONEY FROM BEAR! ThATS juST SILLY! JUST SILLY"

http://www.liveleak.com/view?i=2b7_1205751955

hope that hot headed screaming retard gets off the air cause he just costed a LOT of people a freight tanker load of money.

Ron, that is a common misperception. If I am correct, he never mentioned anything about stock, he was talking about deposits. As in, if I had 2,000 in a Wells Fargo's savings account, even if the bank is in trouble it's ok because they'd probably get bought out [and it's FDIC insured anyways].

I never heard him mention stocks and the immediate start of the video was about the person worried about liquidity [like a run on the bank] and not being able to get their money out. There was no mention of liquidity from the standpoint of selling their shares, which is a very goofy and pointless question to ask anyhow.

I don't really care what people think about me, much less some goof ball on CNBC, but I try to lean on the side of right vs wrong and I think it's wrong to claim he said something he doesn't.

 

[sahtt]

Cramer was right, BTW.

He knows his stuff and is no more eccentric than most Wall St types.

I see it the same way. He said they would probably be bought out, which is exactly what happened. I don't really understand the commotion except for the fact most people don't understand the basics of the financial markets and are misinformed.

 

[RON98]

Ron, that is a common misperception. If I am correct, he never mentioned anything about stock, he was talking about deposits. As in, if I had 2,000 in a Wells Fargo's savings account, even if the bank is in trouble it's ok because they'd probably get bought out [and it's FDIC insured anyways].

I never heard him mention stocks and the immediate start of the video was about the person worried about liquidity [like a run on the bank] and not being able to get their money out. There was no mention of liquidity from the standpoint of selling their shares, which is a very goofy and pointless question to ask anyhow.

you could have taken it both ways. he didnt have to say stocks, they flashed the stock chart as he was speaking. :biggrin: which leads me to believe the question is about share prices and not deposits.

bail out is crap btw. they made stupid decisions and should have gone to the poor house for it. If i bet all my eggs on the housing market.. when i go to the red, fed aint giving me sht. now when christmas comes, they'll still be getting 100 million bonuses. The little guys always get crapped on capitalism is bs.

Regards

Rob

 

[MartinSD]

Greetings

I think that it is too late to purchase precious metals -- they are already too high. Oil is a luxury commodity -- it will fall soon as the recession deepens and demand drops -- not a lot of demand drop will significantly drop the price of oil.

The European banks are the ones that tick me off. The Federal Reserve has bailed out a couple of them since this all started and they keep their currency high. BMW and MB have had to lay off workers since their cars aren't selling -- a BMW 335 decked out is now about $55K.

There are still places to make money, but now is the time to be conservative. People who weren't are selling. I made a lot of money in the 2000 recession and plan on doing so during this one. Don't try to hit the bottom of the market -- be ready to get back in a month or 2 after the market starts back up. Good companies that have cash will always survive. Anyone can make 10% on their money when the economy is good -- you can make 20% or much more by keeping your eyes open and having liquidity when the market is tanked.

Watching
Martin

 

[legendr35]

You sold the beautiful yellow 02 also?

http://www.nsxprime.com/forums/showthread.php?t=102230

yep

 

[Matt_337]

Mine is paid for but I'm thinking of bailing because the car just sits. I know I'm going to take a beating due to how much I spent on mods, but my loss will be someone else's gain. The problem I see right now is the glut of cars for sale now :frown:

 

[NSX GT]

Mine is paid for but I'm thinking of bailing because the car just sits. I know I'm going to take a beating due to how much I spent on mods, but my loss will be someone else's gain. The problem I see right now is the glut of cars for sale now :frown:

If you sell the car convert back to OEM and sell the mods separately.
I enjoy my ride at least 3 times a week I'll take a 1 hour drive around town and to Pebble Beach/Carmel Valley/Karting. I've put on 4K miles on my NSX in the past 8 months. Of course the weather here is not so extreme. Don't have to deal with any snow. I'm not keeping it a garage queen for someone else to enjoy.

 

[slamstrom]

I have some gold teeth but most of my money is in aluminium. Beer cans mostly.

From the movie The Graduate: "Plastics":biggrin: :biggrin: :biggrin: