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I think these days, 5% safely is all one can wish for. Where to find it, I don't know. I'll admit I don't manage my investments very closely - I have a certain percentage taken out of my wages, and it just gets put away...I check the statements now and then, maybe change a contribution venue now and then just for kicks. I'm probably 30 years away from retirement if I am lucky...so I don't get into it too deeply. I need a bigger nest egg first.
Absolutely makes no sense. That happens here as well when people are trying to hang on to a house they do not live in. Most houses in that price range will bring $2400 per month and up. Of course location is everything. A house in Del Mar that is selling for a million would be a $300k house in my neighborhood. Not much rents there for under $3000 per month. In LaJolla $3600 rents you a townhouse 3 blocks from the beach.
http://sandiego.craigslist.org/csd/apa/1757935685.html
A Dr friend just moved into a retirement home in LaJolla at $10,000 per month.
He never owned a home, always rented. When his wife died he wanted a change.
http://www.whitesandslajolla.com/index.asp
He and his wife were both research doctors. No kids and lived very frugal. His Volvo is 20 years old. Has to have a ton of money that will probably go to his only niece in Mississippi.
This one at a mere 650K...why buy?
One could easily invest that savings over time and have enough for retirement housing when the time came, with a lot left over.
http://www.zillow.com/homedetails/9633-Vineyard-Crst-Bellevue-WA-98004/49113446_- zpid/
Here is a house my daughter is looking at as we speak. We may buy it and rent to them until they can qualify for a loan. This is an all brick home that will probably sell for $125k cash. My daughter's rent just went up from $750 to $850 per month in Evansville. I can buy the house and rent to her for $850 and make about 8% return. With property taxes under $1000 per year on that place. No wonder Indiana just got rated the best income to cost of living in the USA.
http://www.zillow.com/homedetails/3306-Aspen-Dr-Evansville-IN-47711/77083464_zpi- d/
When that $800k home in Bellevue gets under $200k it will be time to think about buying. Unless everyone in WA makes $150k plus a year. My jaw dropped when I saw the prices. That would be high for Laguna Niguel homes. They averaged over a million in 2007, now they are selling under half a million. So my advice for those in Seattle, keep renting.
When I see those midwest housing prices, I cringe with a little envy. I might even think about owning a rental house if I lived out there. That's probably a better area to invest in real estate than the east or west coasts, no bubbles.
Location, location, location.....
Makes me think that our Canadian friend Dewey might have something to do with it... LOL. After all, he is an investment advisor, and smart financial wizard... and he would be a terrific member of this forum. He always had a brilliant perspective on the economy and business. I always enjoyed reading his analysis.
His only questionable perspective that I recall was when he strongly disagreed with me when I predicted, during the worst of the financial crisis, that there would be a bright future for Ford. He thought my positive outlook for Ford was crazy... but then again, so did a lot of folks at that time. But as it turned out, Ford has indeed emerged from the ashes.
If we are fortunate, Dewey is lurking out there somewhere, and will make a heroic appearance here. That said, I miss hearing from Dewey, and I really hope he is doing OK. It would be awesome to hear from him on this forum!
I have been seeing tons of advertisements and gorgeous promotional videos lately aimed at attracting tourists and businesses to visit and relocate to Canada.
So... if you are out there Dewey... best regards to you, and please stop by the forum, and say hi.
TM
Speaking of bidding wars, a couple co-workers of mine have recently bought short sales, and claim there were enough bids to go above asking price too. I worry about some of this, as it makes me doubt if all lending standards have been reigned in. I know what these people make, I can guess what their spouses make, and when I look at their income vs the price of these houses, it seems pretty tight. After mortgage and taxes, I can't see how these people will be able to maintain the houses, not to mention other expenses. Maybe I am too conservative when it comes to spending, I just can't not have breathing room.
One of the biggest mistakes made by the Federal government in the financial crisis is not breaking up the big banks and institutions that got us into this mess - including B of A, Chase, Citibank, AIG.
2013 LX 570 2016 LS 460
2013 LX 570 2016 LS 460
On a separate note, Toyota has officially confirmed that all 500 LFAs are spoken for
News
New Lexus commercial featuring the LFA, enjoy.
Commercial
I always knew they would have no issue moving this car. Now my hope is that it will appreciate like crazy down the road.
US banks are now lending to foreign nationals like myself, but they require that we have at least 30% down for detached homes, and 50% for condos.
Hmmm... perhaps.
But he sure made plenty of terrific financial posts for a guy that doesn't like to talk about it.
Also, given that it's his professional career, I would think that he has a lot to contribute. His choice of course.
Still... I really miss Dewey's posts.
TM
Is this true?
Can they do it...legally?
In the article I posted above, 1/3 of Euro allocation went to Germany. I've also heard that China did not get any.
I just had a bond called, do you still like Citi? The Market was up big today but Citi hardly moved.
2013 LX 570 2016 LS 460
Citi is a stock I just can't resist and I believe that if I am patient with it, the reward will come in time.
TM
I think you are on to something here Tony. I've been buying more at every dip. Not just the market dips, but also individual stock's dips. I think we are in for a healthy upward move in the near future.
If capping the oil well is what it will take, I'm for that. One other thing that I believe would help the markets would be some stronger clarity from China about what they specifically intend to do about their economic situation... it seems too vague, IMO.
TM
Euro scraped below $1.20 for a bit...down baby, down...hit par and stay there.
Another buying opportunity for tagman!
Guilty as charged.
I bought more stocks today.
TM
Regards,
OW
On the drive from S C to N C --the economy is booming...big trucks everywhere, and lots of traffic.....If the market were regulated, as it should be, then these monster moves wouldn`t happen....As I am primarily in bond etf the moves really are not so great each day....but the C only has to move a few pennies for it to be a large percentage....Morgan Stanley is hosing it down each and every day, so that is something we can understand....Never the less a loss is a loss....Tony
I bought more stocks today.
Cool. Hopefully it is way up for the rest of the year!
Whoa... not so fast... I don't think it's going to pan out quite like that. Sorry to say this, but I think we'll see a continuation of volatility, with significant swings.
Also, I tend to agree with Tony's perspective... to a point We need to see that gushing oil contained. That will give the markets some reason to celebrate.
And it especially needs to be contained before it jumps into the Gulf Stream. I saw a scientific projection on a news program last night that explained the ramifications of the oil spill getting into the Gulf Stream. That would spell a disaster even bigger then the one already in the Gulf. Once trapped in the Gulf Stream, it would wrap around Florida, travel up the entire East Coast, and then work its way to Europe.
Let's face it... we are in a mess right now... and the markets reflect that. Fortuntately, the mess will likely create some buying opportunites.
TM
While my long holdings are back to where they've started beginning of the year, I can still make some money with these volatilities. It just require more careful studies of the trading ranges.
I think making money on constantly rising markets does not require much skill. This one will.
The market continues to be crazy with incredible volatility. I still very much believe that the U.S. economic news will win out over the crap spewing out from other parts of the world. So, a strategy of buying buying on these big dips as TagMan and some others are doing is the correct approach.
That oil spill is making me sick :sick: every time I think about it. I feel just as bad about the poor animals that are dying as I do about human beings in the affected area. What an environmental catastrophe! I hope and pray that an ultimate solution is found very soon.
Regards,
Jose
Did you get invited to Bilderberg Group meeting in Spain. Hopefully they don't do for Spain what they did for Greece after meeting there last year.
Charlie,
Congratulations on the twins. Love my grandkids. Not sure I would enjoy being woke up all night long. Have fun with them.
The disaster in the gulf is way bigger than any of us realize , and mentally draining to boot....So many people and the wonderful wilds being destroyed in such a fashion , right before our eyes, is heart breaking...I think it is poisoning the nation as it unfolds...A solution will be a great relief, and then we all can begin to focus on what we as individuals can do to help----other than paying taxes---:) Cheers to you Tony
IF the oil spill can now be totally contained and the clean-up begins, this would bring all of us tremendous joy.
Something not being said, is the fact that we could be getting large amounts of oil in much safer shallow water drilling. The environmentalists have blocked it, forcing the oil companies to search in much riskier locations. If that had happened in a few hundred feet of water it would have been an easy fix. With little or no environmental damage. Do you think that will be discussed? Or will the current leadership just condemn all offshore drilling and production? Stopping much of the drilling as Obama has done will not protect one fish or bird from the current disaster out in deep water. Just put more people out of work and cut into our oil supplies.
As for Spanish economy, I'm less optimistic than I was a month ago. I'd rather had gone for not cutting so drastically public depth. My priority would have been not to put in danger real economy recovery. But I have no economical or political authority in that or any other matter and, jokes aside, one cannot easily navigate in this storm of gambling veering round winds which are apparently driving the financial markets now. Blood, more blood! Nothing is enough! Governs can only be humble and obey to the non-elected and thus immoderate body of decision-makers which are hidden deep in the markets (no conspiracy theory: only interests of big speculators; oligarch groups can be added to the plot, however: it is not lunatic to think so). Anyway, these hidden decision-makers won't be satisfied even if something more catastrophic will happen. Annus horribilis, not for making money but loosing independence in favor of such unregulated markets. Some would say that the markets are fair in the end, but I believe than in their current form the markets are only fair to those who have enough shares (true or false) to drive them. Nanosecond machines adding to the concoction. Also, political mistakes leading to dangerous spots of violence (not to be mentioned here but I'm sure there are in everyone's mind) are of no help at all.
My prediction is that this perfect storm has no end at sight in this moment. Thus, for the peace of my mind, I sold my shares in some European Banks (Credit Agricole, v. g.,) a fortnight ago. (But I've bought more Santander's in the most recent dip later last week. I couldn't resist the temptation.)
Enjoy your grand-childrens!
Regards,
Jose
:P :P :P
Regards,
Jose
2013 LX 570 2016 LS 460
Jose,
Don't over do your recovery. Keep US posted.
Jose,
I am not the expert on this topic, but if I recalled correctly, this was the way Canada built it strong financial foundation that help the country to be where it is today. It began in the early 90's right after the recession 89-91, we had a Liberal Government that was cutting spending and raising taxes constantly for at least half a decade. I remembered that we at some point were paying well above 50% of combined taxes on our incomes. However, It achieved annual budget surplus in the end at the cost of a very slow growing economy. All this happened while the rest of the world enjoyed the boom as we knew it.
I used to hate the way it was done here too, but in hind sight, I think it was the right approach to cure our financial diseases.