What do you think about this? When it happens?

How many times I’ve thought of that segment while hearing these clown-meisters!

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hckcjptp…

You should be proud of yourself and are in great shape. A few thoughts:

I would invest the 160K in some good sound inflation safe investments (i.e, gold, gold stocks - I invest in Canadian mkts, but this is not for the inexperienced) and sit the housing thing out for a couple years. Even when you do buy, I still wouldn’t necessarily liquidate my investments if I could borrow at a good solid fixed rate. Your mortgage money is (probably) still the cheapest money you’ll ever borrow and your investments may easily outperform the net rate that your mortgage is costing you. Remember too, you always have a perpetual property tax lien on your house so it’s not as though you’re ever really safe from losing it even if you don’t carry a mortgage.

I would also use that money to fund every IRA and college savings account in sight. Remember, you can withdraw money from these funds without penalty for education expenses and medical expenses if the need arises.

I also think everyone is right around here about the rental bargains in store for you in the near future. I’m not one of those people who thinks renting is as good as buying; there’s nothing like being able to truly live in something that is yours and to feel a sense of community with the people around you who are doing the same. So I think you’ll get your dream house in the long run and due to sound decision making you’ll buy it at a price most people could only dream of.

Marty Feldstein says that 401(k) plans are covered in the definition of household savings.

Maybe giving everyone a loan wasn’t such a hot idea considering $1 trillion is resetting this year.

Dr. Housing Bubble
http://drhousingbubble.blogspot.com

Wow!!! and Thank you very much for the Mortgage Bubble article you published.

The mortgage fraud epidemic that plagues the US has far reaching economic ramifications which are only now starting to materialize. This effect is felt more deeply in higher valued markets, such as the OC. I spent 15 years as a QC manager for a large, So Cal based, national lender out there before moving back home to So Fla, the other mortgage fraud capital of the US.

As mortgage industry insiders, we saw this stage being set years ago, with lenders and Wall Street investors alike seeing the writing on the wall but relishing in the proceeds of these loans. “Don’t ask, don’t tell” should no longer be unwritten policy at these companies, presumably responsible for not only great economic contributions, but who are responsible for financing peoples lives and dreams, or irresponsiblly destroying them for a profit.

Cindi Dixon, Director

Mela Capital Group, LLC

Mortgage Fraud Investigations and Training

954-675-2319

PO Box 670035

Coral Springs, FL 33067-0035

Cindi@MortgageFraudQC.com

http://MortgageFraudQC.com

Please visit our DISCUSSION BOARD for the latest mortgage fraud news and to anonymously report mortgage fraud. http://MortgageFraudQC.com/blog/blog.html

First FED and Countrywide will follow

Another thing they leave out is that businesses account for a much bigger piece of gross saving (before depreciation) than households do these days. I couldn’t find any ‘06 data on the federal BEA web page, but in ‘05 gross saving (net saving plus consumption of fixed capital from BEA table 5.1 in the National Income and Product Accounts) by businesses was about 8.5% of GDP, and gross saving by households was 2.1% of GDP.

Gross household saving as a fraction of disposable income (which itself is always less than GDP) was never less than 8.7% from 1955 to 1992, but has fallen off the cliff since then, and the 2.9% figure for 2005 was the lowest since 1934.