So there is a ton of oppurtuinty in the stock market right now just like the real estate market. Who else is getting ready to jump in? Ive got my eye on a few companies and am getting really close to start buying!
Ton of opportunity to go to >5000 also with the Big O policies just starting to be exposed.
Millions of loans scheduled for reset the next year and a half still. Big banks are still on very shaky ground.
Short term spike. Don't take your eye off the ball through the smoke and mirrors of a short term bump. There are no credible indicators of a rebound (unless you're watching CNN and consider it credible)..
These are long term investments. And for the record, any GREAT investment takes risk (balls). Im young if I fail (which Im an optimist so theres not much room for negativity in my head) I have many years to get back what I loose.
And NO, I dont get my advice from CNN. LOL!
And what second phase of the RE market are we talking about here? Locally, here in So Cal, the market that is still dropping is that market above $450k. The reason is, we dont have any "move-up" buyers. We are seeing prices under $450 started to solitify. Take this for example, in Oct 2008 there were 10,700 homes for sale in the generals areas of San Gabriel Valley and the Inland Empire. Now as of Feb (last month), that inventory went down to 8,100 and sales went up 19% from 16%. Now what happens when inventory shrinks and and sales percentages increase?
And this isnt just a short term decrease of inventory, its long term. In fact in August 2007 that inventory number 12,161, but sales were only at 3.9% (very tough time). So at that time we had a 25 month supply of homes, as economic analyists would say. Currently we have a 4.75 supply of months, so what is that telling you?... Our market is improving (in some areas and price ranges).
In my eyes, there is a ton of oppurtunity out there, and that window will begin to close someday.
There's a surge in first time buyers trying to take advantage of the home buyers tax credit. Don't let that surge fool you into thinking we are anywhere close to the bottom.
Due to the feds pulling the tax credit out of the stimulus package, the lack of money availble from lenders, worsening uneployment rate and a down stock market I look for the RE market to tank even worse when the current tax credit is over. There just isn't any incentive to buying right now without it. Peoples confidence levels are so low right now we need that tax credit to get people buying.
We're still investing in the wifes 401K and deffer'd comps.
The plans are buying stock at bargain prices even though the value of the plan has dropped 27%.
She's still plenty pizzed off it's dropped so much.
Right now you'd be better off going to Vegas and laying down a huge bet on black. Odds are probably better than the stock market. If you're going to jump in stocks right now, you'd better be prepared to lose all or substantially all of your money.
I see absolutely no difference in Vegas and the DOW right now. Upside in Vegas, you can get free drinks
Best thing in the stock market right now is the next IPO of "Google".
But who can predict that?
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