New Virginia, IA
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Registered Jun 26, 2009
Bluedistantstar's most recent comments:
- On 19 May 2012
Australia would be the best option. English speaking, great climate, 1st world economy that basically avoided the GFC, huge energy resources, low population density, stable government, nothing not to like. Are property prices high? Yes, because everyone wants to live there, supply and demand.
- On 29 Nov 2011
What Would You Do If Nothing Changed?,
Then you're going through the same decision-making process that baby-boomers like me had to do 20+ years ago. One should buy assets that appreciate and rent/hire assets that don't. Think of renting as an open-ended, interest-only loan, with no upside for appreciation, no downside for depreciation. While ever house prices had a long-term upside, it made more sense for 18 of the last 21 years to buy rather than to rent, in most developed western economies at least. As always, mostly the latecomers and the greedy get caught. It's not greedy to want to make the right financial decision for yourself and your family. At some point, US residential property will look like a bargain. If your income is relatively secure, you have at least 20% deposit and don't borrow more than you can comfortably afford, it can make good sense. These are old bankers' precepts, they've worked for a very long time, and usually when they get departed from, there's tears all around.
- On 28 Jul 2011
The silver lining to U.S. losing its AAA rating,
The USA must face an uncomfortable truth. The truth is, the USA has been living a lifestyle of a 1st world economy on borrowed money. It must now cease spending more than it earns and live within its means. That will entail foregoing some things that, hitherto, have appeared to be 'entitlements'. Like someone who is facing personal insolvency, dining out every night on the credit card must stop. It means a reduced standard of living for almost every American. The rich must pay more and the poor must receive less. Workers will have to work harder for less. The US economy has no immunity from the laws of mathematics.