Comments on: The Fall Of The House Of Bubble http://www.scholarsandrogues.com/2007/06/07/the-fall-of-the-house-of-bubble/ Think. It ain't illegal yet... Fri, 10 Feb 2012 03:16:41 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: mikefromtexas http://www.scholarsandrogues.com/2007/06/07/the-fall-of-the-house-of-bubble/comment-page-1/#comment-3080 mikefromtexas Sat, 09 Jun 2007 05:09:54 +0000 http://www.scholarsandrogues.com/?p=432#comment-3080 Nouriel Roubini at the RGEMONITOR has been on this for quite awhile also. It's an ugly situation that is no where close to hitting bottom. Nouriel Roubini at the RGEMONITOR has been on this for quite awhile also. It’s an ugly situation that is no where close to hitting bottom.

]]> By: whythawk http://www.scholarsandrogues.com/2007/06/07/the-fall-of-the-house-of-bubble/comment-page-1/#comment-3079 whythawk Fri, 08 Jun 2007 06:42:51 +0000 http://www.scholarsandrogues.com/?p=432#comment-3079 The Economist - my enduring favourite read - called the bubble about five years ago and suggested various measures to improve it. I can't speak to the US market but I can about South Africa's. The truth is that everyone "knows" that it's a bubble. But, like the dotcom bubble, everyone hopes that it isn't going to be them that gets caught holding the parcel. Estate agents get paid on commission; of course they want the sale. Don't believe a word they say. No-one wins in bubbles; although clever footwork may ameliorate some of the more appalling losses. If it helps: the house was never yours, not until it's fully paid for. Until then it belongs to the bank and you rent it from them. People who buy anything far beyond their means (from motor cars, to microwave ovens) are only fooling themselves. I get offered "free" credit cards on a daily basis. I don't take any of them. Why? Because there really is no such thing as a free lunch. The Economist – my enduring favourite read – called the bubble about five years ago and suggested various measures to improve it. I can’t speak to the US market but I can about South Africa’s. The truth is that everyone “knows” that it’s a bubble. But, like the dotcom bubble, everyone hopes that it isn’t going to be them that gets caught holding the parcel.

Estate agents get paid on commission; of course they want the sale. Don’t believe a word they say. No-one wins in bubbles; although clever footwork may ameliorate some of the more appalling losses.

If it helps: the house was never yours, not until it’s fully paid for. Until then it belongs to the bank and you rent it from them. People who buy anything far beyond their means (from motor cars, to microwave ovens) are only fooling themselves. I get offered “free” credit cards on a daily basis. I don’t take any of them. Why?

Because there really is no such thing as a free lunch.

]]> By: Martin http://www.scholarsandrogues.com/2007/06/07/the-fall-of-the-house-of-bubble/comment-page-1/#comment-3078 Martin Thu, 07 Jun 2007 20:38:57 +0000 http://www.scholarsandrogues.com/?p=432#comment-3078 Denny: Around the Internets. I don't know who created it, but they deserve a nice fat paycheck for their skills. Jim: Sorry to hear that. Remember, these people are out to keep the homes turning over, and they'll say and do ANYTHING to make that precious commission. You can't trust anyone to have your best interests at heart without finding out what THEIR interests are first. Denny: Around the Internets. I don’t know who created it, but they deserve a nice fat paycheck for their skills.

Jim: Sorry to hear that. Remember, these people are out to keep the homes turning over, and they’ll say and do ANYTHING to make that precious commission. You can’t trust anyone to have your best interests at heart without finding out what THEIR interests are first.

]]> By: Jim Booth http://www.scholarsandrogues.com/2007/06/07/the-fall-of-the-house-of-bubble/comment-page-1/#comment-3077 Jim Booth Thu, 07 Jun 2007 18:53:18 +0000 http://www.scholarsandrogues.com/?p=432#comment-3077 As a guy paying two (count 'em, two) mortgages for OVER A YEAR because I was assured my previous home would sell "like that" (finger snap), this whole mess is a sickening reminder never to trust anyone but my own math skills (such as they are) where money matters are concerned. Whatever Bernanke says, things better get well pretty damned soon - or I may end up like one of those "impoverished" ex-home owners.... As a guy paying two (count ‘em, two) mortgages for OVER A YEAR because I was assured my previous home would sell “like that” (finger snap), this whole mess is a sickening reminder never to trust anyone but my own math skills (such as they are) where money matters are concerned.

Whatever Bernanke says, things better get well pretty damned soon – or I may end up like one of those “impoverished” ex-home owners….

]]> By: drdenny http://www.scholarsandrogues.com/2007/06/07/the-fall-of-the-house-of-bubble/comment-page-1/#comment-3076 drdenny Thu, 07 Jun 2007 18:45:38 +0000 http://www.scholarsandrogues.com/?p=432#comment-3076 Great read. Where'd you get the art? Great read. Where’d you get the art?

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