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Registered Apr 30, 2009

Reality's most recent comments:

  • On Mon, 5 Oct 2015, 12:07pm PDT in Advice on what to do with inherited house in San Francisco?, Reality said:

    iwog says

    For what it's worth, I'm neutral for the time being.

    It's worth nothing. Although I can point to my posts making real estate predictions back 7 years now, you've never had the balls to predict anything and never will.

    LOL. Of course I remember your predictions of gold under $1000 by April of 2014, as well as your prediction of massive crash in all assets by 2017. I'm not interested in making public predictions and make a fool of myself for the same reasons why I prefer not to disclose the locations of my properties before Rob blew up due to bad publicity. I don't need to get my ego stroked like some do, but then again I don't drive for Uber either.

    iwog says

    I'm considering selling next year because 80% of my net worth is now tied up in real estate as a result of massive capital appreciation. Maybe it's 90%, I haven't done the math.

    Therefore I'd be stupid to keep all my eggs in the real estate basket when:

    1. Return on investment is massive but return on equity has fallen to the point where other safe investments can be substituted.

    2. I'm going to be buying land in Chile soon.

    So are you retracting your prediction about massive crash in all asset classes by 2017? 80% of one's net worth being tied up in real estate is quite normal for a real real estate tycoon; OTOH, the net appreciation on a handful of houses being able to account for 80-90% of one's total networth jives well with the profile of someone who drives for Uber; i.e. his previous networth was less than $200-500k before the real estate gamble.

  • On Mon, 5 Oct 2015, 11:47am PDT in Advice on what to do with inherited house in San Francisco?, Reality said:

    iwog says

    Just shaking my head again........

    Me and others have detailed point by point how this current bull market is almost infinitely stronger than the one peaking in 2006, that the people holding homes now are immune to market crashes in sharp contrast to the tower of straw built during the bubble, and how all of the trendlines are pointing towards higher prices and not lower prices. Population is growing faster than construction. MUCH faster:


    Besides price, does anyone anywhere have a legitimate reason why this housing market should crash at all let alone be worse than last time?

    I thought you were considering selling next year.

    For what it's worth, I'm neutral for the time being.

  • On Sun, 4 Oct 2015, 6:40pm PDT in The Echo Bubble in Housing Is About to Pop, Reality said:

    bob2356 says

    Government regulations enforced by the force of violence is the reason why the playing field is not level; e.g. someone can sell a decades old drug for $750/pill today when manufacturing is less than yesterday's selling price of $14 only because of government regulations restricting production and importation by competitors on top of taxpayers being dragooned into paying the bill. Even Karl Marx recognize that the state (i.e. government) is the tool for one class to oppress another

    and who paid billions of dollars to get those regulations in plaice? Marx's proletariat? I think not. Sorry, but you are randomly mixing crony capitalism with socialism. They are very, different concepts. Go back and study what each term means then repost this correctly identifying the problem and culprit.

    Marx was funded by rich capitalists and banking interest. Lenin and Trotsky were funded by West European banking interest and the German Kaiser's military intelligence. "Crony capitalism" is socialism, bought and paid for rich crony capitalists, who prefer to use socialism and government regulation to limit competition.

    "Proletariat" was just cannon fodder for Marx, who raped his female house maid, got her pregnant and kicked her out. How's that for exploitation of workers and women?!

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