you're paying for this schoolbus drivers $800k house

Discussion in 'Economics' started by empee, Feb 24, 2009.

  1. empee


  2. No chance that POS, purchased for $800K is still worth $675K ... $400K MAX.

    If that whole family isn't living on the street by the end of this year, I'm leaving the country.

  3. ^ this
  4. No because you had hyper growth in asset prices over the last 20 years and people thought it will last forever.

    Risk doesn't pay, CALCULATED risk pays. Risk ends you up in the poorhouse.

    It's over, the asset bubbles are done for. This is a new economic order, it's obvious who is still living in 1999 and who is adjusting.
  5. gnome


    What about us dumb schmucks living in 1959? House paid off, money in the bank, no credit card debt... why, we just a bunch of dumb farkin' azzholes...
  6. This is exactly what I'm saying, borrowing freely and buying 800k houses worked up to 2008. Now that is over, and those who adjust to the way things were in 1959 will survive.
  7. if you have nothing to lose and most of these people didn't, they already were negative with all their cc and car loans then it wouldn't matter how much risk you took the result of failing would be the same
  8. What about the ML and BAC exec houses who received 3.6B in bonuses? We paid for their houses, hookers and drugs.
  9. gnome


    Yeah... Lamenting I didn't go to "CEO school" instead of science...
  10. You could buy her house for 175k here in raleigh
    #10     Feb 24, 2009