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Fannie: what is really wrong?


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2005 Sep 28, 11:16am   21,379 views  169 comments

by Peter P   ➕follow (2)   💰tip   ignore  

How will it affect credit markets and MBS markets?

by News

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155   Zephyr   2005 Sep 30, 2:24pm  

ScotC,

Interesting mix of people. Some good and some of them were cheats and scoundrels.

One need not cheat to get ahead, but some choose that path. I find the lack of ethics of several of your charactors to be disturbing.

156   Zephyr   2005 Sep 30, 2:28pm  

But I agree with you about learning how to make money. Most people never get off their asses to make it happen. …even when opportunity stares them in the face.

It really is true (at least to some extent) that you make your own luck.

157   Randy H   2005 Sep 30, 2:49pm  

What are the other two?

For me, personally:

1) Mougins, France. In Provence, near Nice.
2) Marin, SF BA.
3) Heidelberg, Germany (slightly outside, on the Neckar river). If I were to become a "rich-dad", then in a restored feudal castle.

158   Jimbo   2005 Sep 30, 3:17pm  

I too, have travelled all over the world and have lived in Wyoming, San Diego, North Carolina, Montana, rural Northern California and the Bay Area.

This is the place I choose to call home, even though I could live anywhere.

There are few cities I would live in: Amsterdam, New Orleans (okay not right now), San Diego, Jerusalem and here. But San Francisco is my first choice.

It is amusing to me to see people claim that the non-whites live in "ghettos" here. That might be true for blacks and latinos, to a lesser extent, but it is not true for Asians.

Are The Richmond and Sunset ghettos? I think not. They might be a bit foggier than the rest of the city, but they have lower crime rates and better schools.

159   Peter P   2005 Sep 30, 3:47pm  

Mougins, France. In Provence, near Nice.

Nice is nice. Bouillabaisse... yum!

160   Zephyr   2005 Sep 30, 3:48pm  

Here’s why I say cheats and scoundrels:

Mafia connected, tax evading, Affair with secretary….

“He keeps a house in Mission, Texas, which he declares as his permanent resident so he can avoid paying income taxes in Minnesota.”

Others evading taxes with the same trick…

“Sincerity. When you can fake that, you can sell anything.”

These points don’t inspire respect in my book. I consider these items are the behavior of cheats and scoundrels.

161   Peter P   2005 Sep 30, 3:50pm  

24′ of rain, I mean

You scared me. ;)

162   Peter P   2005 Sep 30, 3:52pm  

You know the real estate market has still a loooong way to go up when a bubblehead like yourself acknowledges that $105,000 over asking to $1.4MM for a 1,600 sqft condo isn’t that much.

I just told a friend about people bidding 400K above listing because of your previous posts. Now it is only 105K? I trusted you!

163   Peter P   2005 Sep 30, 3:57pm  

MIRAGE is always only a mirage.

164   praetorian   2005 Sep 30, 4:28pm  

"Gotta love it!"

HEAD! PANTS! NOW!

Cheers,
prat

165   praetorian   2005 Sep 30, 4:40pm  

"I think that if you have the basics in life and perhaps a steady income, that’s all you need."

Programming in ruby helps, too.

Cheers,
prat

166   Peter P   2005 Sep 30, 5:27pm  

New thread: October is here!

167   Peter P   2005 Oct 1, 3:34am  

It’s not about you. It’s about the money. Unless or until you can understand that, the only thing you’re ever going to be is a well-paid but poor slave.

Very well said

It’s what the dollar represents that means something, money.

However, money means purchasing power. If it is not spent eventually, it has no meaning.

168   Peter P   2005 Oct 2, 8:17am  

Jeff, thanks for your insight.

Flipping is the last hope of many people. However, all ponzi schemes will fail eventually.

169   AntiTroll from Oz   2005 Oct 3, 5:21pm  

ScottC,
Oh, well, at least they can’t outsource real estate.

I Thought some RE has been purchased sight unseen over the internet.
Maybe this is only the start, as the internet does allow lower marketing costs than a traditional RE office.

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