STILL RENTING

96 Comments

    • ON: Fri Oct 10th 23:41 PM
      Commented on:
      The Housing Crash May Not Hurt Property Tax Revenues
      I heard that in washington property taxes are a relative thing. That is, your house is taxed according to it's value relative to other properties. The total state taxes are a fixed amount and assessment only determines what portion of that amount you pay. That means if all property values were to go down the exact same amount, nobody's tax would change at all.
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    • ON: Wed Oct 8th 15:16 PM
      Commented on:
      Fear Is Irrelevant
      I find it interesting when people compare this collapse to other collapses. There are differing reasons for each. For example. If your car comes to a sudden stop at an intersection one day via hard braking. It is reasonable to assume that one may then apply foot pressure to the gas pedal after stopping and continue on their way.

      If, however, one came to a sudden stop at an intersection because they rear-ended a bus, their car may not be so easily be coaxed into regaining speed via simple foot pressure on the gas pedal.

      IOW, this ain't 1974. This is the culmination of many decades of bad policies and corruption finally giving us our day of rekoning. We are in very uncharted territory and, truth be told, my strongest concerns are not about money. They are about war. A big one.
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    • ON: Wed Oct 8th 13:13 PM
      Commented on:
      The Debate: McCain's Insane Mortgage Proposal
      No.

      I am not kidding.
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    • ON: Wed Oct 8th 13:13 PM
      Commented on:
      The Debate: McCain's Insane Mortgage Proposal
      McCain and Obama - Dumb vs Dumb AND scary.

      I gotta go with dumb. But dumb it is. That is why I was not voting until just before the Palin announcement. To be fair, it was not the entry of Palin that made me decide. Rather, it was the compilation of several months worth of reading about Obama, diciphering what I believe to be the likely truth, and recognizing him as possibly the most dangerous man to ever run for president in the last century.

      I'll have to hold my nose and vote for McCain and then buy another thousand rounds for my SKS just in case the rioting hits the burbs on election night.
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    • ON: Mon Oct 6th 19:04 PM
      Commented on:
      We'd Better Brace for Massive Layoffs
      Whidbey, I think in the long run that is true. But in the short run, who is going to buy the cool stuff?
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    • ON: Mon Oct 6th 11:54 AM
      Commented on:
      Bailout Backfire and the Ticking Debt Time Bomb
      Looking at those charts, no wonder congress has a single digit approval rating.
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    • ON: Tue Sep 30th 11:12 AM
      Commented on:
      Hedge Funds Fear Cascade in Redemptions
      User 100212 -

      Notice the formatting. If it is indented, it is from the NYT. If it is not, it is Mish saying something.

      IOW, Mish DID say something.

      Sheesh...
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    • ON: Thu Sep 25th 11:43 AM
      Commented on:
      Record Decline for Existing Home Sales
      As someone who owned my own home for 19 years and have rented now for several years, I can tell you that even in a "normal" market, home ownership is not the american dream any more than owning your own boat is the american dream. It is for some, but not all.

      The freedom I have now, as a renter, has REAL value. To give an obscure example, I hit a pedestrian a few years ago (entirely his fault) and he actually tried to sue. I learned through that and a similar legal experience that everyone tries to use the potential loss of your home against you. But when you do not own a home, it is like getting the other side neutered. I wasn't worth pursuing... ;)

      There are many other examples, but this one advantantage just really surprised me. I see home ownership very much as a ball and chain. Although it can be worth it, that negative is quite real.

      Meanwhile, by the time I have saved enough for 30% down (2011) I should be able to wait yet a couple more years and save several hundred thousand on my REAL dream home/acreage. And I'm not talking a McMansion on a 5,000 sq. ft. lot. And it CERTAINLY will not be in King county. :)
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    • ON: Thu Sep 25th 10:55 AM
      Commented on:
      Bank of America: 'Paulson Plan Benefits Mostly Goldman, Morgan'
      If this thing goes through, I will see it like I see 911 and Pearl Harbor. Or like the day they "fully ratified" the 16th ammendment, or created social security.

      It will be a huge slide down that slippery slope and, in the long run, do NOTHING good.
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    • ON: Wed Sep 17th 12:48 PM
      Commented on:
      Falling Gasoline Prices Push Consumer Prices Down
      As fuel prices continue to decline, the curtain will be pulled away for everyone to see the beast behind it: deflation.
      View article »
    • ON: Tue Sep 9th 13:12 PM
      Commented on:
      Paulson and Friends, Translated
      Blondino,

      I think Mish really has built the beginnings of what could be used as a case against them. It would take a lot of work and a VERY educated judge and jury, but it could happen.
      View article »
    • ON: Tue Sep 9th 13:11 PM
      Commented on:
      Paulson and Friends, Translated
      You did what I call a "Rush Limbaugh". And you did it well!

      No, I am not being sarcastic. One of the things I love about him and what you just did was the saving, and later showing, the words of politicians (etc.) and demonstrating, in front of God and everybody, that their words were pure, unadulterated lies.

      Now that we know them for what they are, shame on us if we believe anything they say.
      View article »
    • ON: Fri Sep 5th 13:36 PM
      Commented on:
      GM, Ford, Chrysler Sales Collapse
      My friend who has been selling cars his whole (he's 55) life is selling Toyotas. He is getting HAMMERED financially right now.
      View article »
    • ON: Fri Sep 5th 13:31 PM
      Commented on:
      Option ARM Time Bomb About To Explode
      I used to work at Wamu. I see them as the equivalent of a boxer that is on his knees, trying desperately to get back up ofter an "almost knockout" punch. I predict that just as they do get off that last knee, an upper cut from the Option ARM is gonna do it, decisively and finally.
      View article »
    • ON: Fri Sep 5th 13:27 PM
      Commented on:
      Option ARM Time Bomb About To Explode
      I think my name says where I stand on this. As usual, Mish did a great job. When I tell my friends I will probably be buying around 2012 or 2013, they are dumbfounded. They also get all their news off the MSM. ;)
      View article »
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