[kj] OT- I couldn't help but to think of the West

[Brendan Quinn]

You know the sad thing…I told everyone I know about this all happening about
18 months ago because I had a head’s up simply from reading stuff on the
‘net…and my cousin, who is an accountant, is still looking at buying a house
NOW, during a falling market. You can log in to any newspaper in the country
and read articles almost every day about predictions that the market will
fall from 5-15% just this year alone…predictions from all the economists at
the big banks, including the Reserve Bank (!). But her logic is “Well it
won’t matter at all because if the value of my property falls then it’s all
relative to everyone else’s”

 

I tried to use logic…hold on. Two scenarios here…let’s say the market falls
10% in a year. If you put down 10%, say $50K on a $500K house…at the end of
the year you end up with a mortgage of $450K on a house worth $450K (you
just lost all your equity). Or if you want until the end of the year /
bottom of the market (simplified example here), you buy the same house for
$450K, and up with a $400K loan on a property worth  $450K…can’t you just
compare the two end results and decide which one is better?

 

“No…that’s not how it works, I’m sure my way is right”

 

Be very careful when choosing an accountant!

 

   _____  

From: gathering-bounces at misera.net [mailto:gathering-bounces at misera.net] On
Behalf Of Joker Portland, Oregon
Sent: Saturday, 15 March 2008 1:28 p.m.
To: A list about all things Killing Joke (the band!)
Subject: Re: [kj] OT- I couldn't help but to think of the West

 

It alway amazed me that people are surpised by what is happening to the
housing market here in the States.  Talk about a superficial market!  They
should have made it illegal for people to get into the houses they did with
bullshit mortgages and inflated prices, fucking getting taken advantage of.
I know you'll say they should have known better, but does it make it
right....

   _____  

From: folkdevil_23 at hotmail.com
To: gathering at misera.net
Date: Fri, 14 Mar 2008 14:01:23 -0700
Subject: Re: [kj] OT- I couldn't help but to think of the West

It's always been there, mate. God bless the capitalist way, hey? :/

   _____  

From: Devacor at aol.com
Date: Fri, 14 Mar 2008 16:48:26 -0400
To: gathering at misera.net
Subject: [kj] OT- I couldn't help but to think of the West




Welcome to our shanty town mess....

HYPERLINK "http://www.youtube.com/watch?v=CnnOOo6tRs8"
\nhttp://www.youtube.com/watch?v=CnnOOo6tRs8

 

HYPERLINK "http://www.youtube.com/watch?v=CnnOOo6tRs8" \nYouTube - Tent
cities spring up in LA 

 

and notice this is BBC news- dont here shit about this over here....

 

Adam Helfer
President
Omkara World
HYPERLINK "http://www.omkara-world.com/" \nwww.Omkara-World.com
www.Myspace.com/Adamomkara







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