Comments on: The Housing Bubble (1/10)

By: Coach

Coach — Tue, 04 Jan 2011 05:18:30 +0000

It’s scary that people were so quick to think it was ok to buy back in 2008. I’ve been yelling and screaming at people to get out of the market back in 2004…they all laughed at me. I reminded them again in 2007.…they laughed harder. During that time I took everything out of the USA and invested in emerging market stocks and real estate.…and accounting for the depreciation on the Dollar my portfolio has increasing in value at about 40% per year when held in Asian currencies.

I’m yelling at everyone again. 2008 was just a sneeze. When the next wave of banking collapses come along in 2011 it will be the ebola virus by comparison.

20,000–30,000 wealthy Americans are leaving every month (and that number is actually families so it’s up to 4–5 times greater of a number).

I predict that the price of housing will fall at least another 50% from its current levels sometime in the next 12–18 months. The Fed will continue to print money and you’ll see OPEC dump the Dollar. There are already 150 million Americans on welfare of some form and another big chunk of people who hold pensions that are backed by nothing to secure them. Then there’s the Baby Boomers with their minimal savings who are all going to start dumping their McMansions and moving to condos.

Boomergeddon is going to downright terrifying.

By: Annie

Annie — Wed, 19 Nov 2008 19:11:30 +0000

I know zhu! But when time rather bad time comes people start believing in “Beg/ Steal/ Borrow” And thats how this vicious circle starts

By: NewWrldYankee

NewWrldYankee — Wed, 19 Nov 2008 11:47:00 +0000

Oh, how true is this picture. People so just live to for that dream, but actually now at least, it is cheaper to do so. Too many foreclosures.

Btw, I love the post idea..It’s giving me ideas in fact. Can’t wait to see more! GIVE ME MORE!! =)

By: Zhu

Zhu — Tue, 18 Nov 2008 22:08:13 +0000

@Aiglee — But you planed your dreams and you seem down-to-earth… a lot of people weren’t.

@Monica — So neighborhood really look dead in OTtawa, not so much because people were evicted (we are not to that extend as far as I know) but because so many houses were build… and no one has the money to buy them now.

@Annie — Time and maybe learning from our mistakes. We did make a lot… borrowing is not a way of life.

@Baoru — Yeah, and take out is cheaper than live-in

By: Baoru

Baoru — Tue, 18 Nov 2008 13:03:02 +0000

Is it like buy 1 take 2 in America now? Hehehehe…

By: Annie

Annie — Mon, 17 Nov 2008 15:20:20 +0000

I think this not a seller’s market and not buyer’s market either. Things are worst from both the angles.

I think time is the only healer; but many of them are feeling time is the only killer Hope things will be better soon!

By: Monica

Monica — Sun, 16 Nov 2008 17:49:31 +0000

I bought my house in California about 6 years ago. I still have it thankfully, but along with the vacant houses just built — there are neighborhoods with every other house vacant.

I’m sad ’cause where I know there was a family there playing and laughing, they were crying and packing because their loan went loopy. Foreclosed. There are so many around here. Perfect time to buy if able —

Very good photo! Great series!

By: Aiglee

Aiglee — Sun, 16 Nov 2008 16:16:07 +0000

The american dream… I think owning a house is not just the american dream, it’s a general dream to a lot of people ^^ and thankfully I’m leaving my dream now

I’ll be waiting to see the next 9

By: Zhu

Zhu — Sun, 16 Nov 2008 06:04:20 +0000

@The American Painter — Oh, I agree, most people just couldn’t afford their house and well, we all know what happened.

@Agnes — Spell checkers are extremely stubborn. Mine has been telling me that “don’t” doesn’t exist for over two years

@Froggywoogie — Yep. And it’s right behind my house! I guess I should watch out for zombies…

@Mother Theresa — Really? The housing market is still bubbling in France, with crazy house prices. Many people are waiting for it to burst as well…

@sir jorge — Well, you know medias in North America. They like to describe the end of the world and dig dig dig into issues…

@barbara — Yes, it was a brutal awakening. It is sad… in Canada, we mostly see empty houses because no one buy them, no evictions though.

@Sidney — Nah, I don’t want to bankrupt the country!

By: Sidney

Sidney — Sun, 16 Nov 2008 05:34:59 +0000

Maybe time to buy your dream house…