Birchtree's Account Talk

[Mapper]

I see it as a liability more than an asset. If I had confidence in the market it would be one thing, but too many new homes are being built...too much supply. And too many people got gaga over homes that they now want to unload.

I think it's a generational thing. Given the frequency of job changes these days and being relatively early in my career, mobility is very important. If I had purchased a house in each of two previous cities I lived in I would have lost minimum $30k each occurrence. I doubt I would have been able to justify the move. Finding a roof over my head has never been a problem.

Compared to many of my friends, those considered successful in every definition of the word, I feel very happy with my decisions. For many home ownership has been a nightmare and financial disaster. I have a feeling that sentiment is going to stick around for awhile.

Edit:
I agree that the tax write off is the biggest compelling reason to own a home...which to me, translates to a huge government subsidy to developers and home builders.

 

[Fran1775]

Housing

I hear what you're saying, But I think that we're seeing a lot of rebounding right now. The housing market has come back to revisit the next slide of foreclosures. The only thing that we can do is hold on for the ride and foot the bill Or join everyone else to give our house is back to the bank.

 

[Birchtree]

Re: Housing

Unfortunately, many underwater home owners had a plan to flip their house in five years or less - so over paying was just an after thought. The only thing was they were not watching the Fed increase rates 17 times and begin to destroy their dreams by shutting down the economy. Always watch what the Fed does - not what they say. You know QE3 is just around the corner and risk assets will explode. Make me money.

 

[WorkFE]

Mapper,
I did not mean to imply that you or anyone else could not buy a home. My apologies.
However, if you rent the place your in for 2-4 years you will have lost the same 30K you claimed you would have lost if you purchased one. IMHO a crappy non-investment paying someone elses mortgage.
I respect your choice and your reasoning to stay mobile is noteworthy.

 

[Birchtree]

"Stock market hanging very tough."

http://www.marketoracle.co.uk/Article33048.html

 

[Birchtree]

Searching for a little happiness and buying like a fool in love on weakness: CDI, TPC, CNS, MLR, B, CLP, DRC, TEN, EQY, SPLS, CSL, AGO, DELL, MWV. I still have wall flowers left on the curb, but the limo is only capable of carrying so many. Another day will come.

 

[Birchtree]

I've done my buying for the day so I'm going to go work outside in my yard but first I'll leave this: "Dennis Gartman all in what he calls a multiyear secular bull market."

Dennis Gartman is

 

[Birchtree]

Here is what the oceanic did this week: -$2K, -$16K, +$5K, +$3K, -$78K for a give back of -$88K. Is my goal of +400K for February in jeopardy - nah, not yet.

SPX Upleg Room to Run | Adam Hamilton | Safehaven.com

 

[Birchtree]

From my WSJ: "Now, an improvement in the U.S. jobs market has led to five straight months of decline in the jobless rate. The European Central Banks's efforts in December to extend three-year, low cost loans to banks assuaged market fears about a banking crisis, laying a foundation for the rally in riskier assets."

"Mamy investors were caught off guard, maintaining defensive positions in U.S. Treasurys and cash as fears about a sharp, European-induced downturn clouded the outlook. According to data from the Investment Coimpany Institue, U.S. investors have yanked $76 billion from long term equity mutual funds since the end of September, even as the Dow surged 17%." This raises the question - can 50 million Frenchman be wrong....

 

[Birchtree]

"Is it fair that President Obama sends his two daughters to elite private schools that are safer, better-run, and produce higher test scores than public schools in Washington, D.C. - but millions of other families across America are denied that free choice and forced to send their kids to rotten schools?"

 

[nasa1974]

"Is it fair that President Obama sends his two daughters to elite private schools that are safer, better-run, and produce higher test scores than public schools in Washington, D.C. - but millions of other families across America are denied that free choice and forced to send their kids to rotten schools?"

Not looking to start an argument. Is it fair, maybe not depending on your perspective? But why is it any different for Obama to send his daughters to a good private school than you or I working hard to send our children to good schools? I worked two jobs to send my daughters to good schools. Why is today different than what other parents have done over the last 100 years?

 

[Birchtree]

"The incessant daily noise is distracting traders, keeping them cowering in fear, hiding in cash, and losing out on huge gains." Ask me if it matters.

"The possibility that 2012 could be a year of reflation similar to 2003 and 2009, whereby risk-assets could potentially rise substantially more than current market participants believe."

http://www.marketwatch.com/story/europe-foreshadowing-a-rally-2012-02-13

 

[JTH]

"Is it fair that President Obama sends his two daughters to elite private schools that are safer, better-run, and produce higher test scores than public schools in Washington, D.C. - but millions of other families across America are denied that free choice and forced to send their kids to rotten schools?"

Who are you quoting, we aren't denied free choice, or forced to send our kids to rotten schools? What we are forced to do is pay taxes to rotten schools and the person who gets penalized the most is the one who chooses not to have kids.

 

[Birchtree]

It's not the schools that are bad but all the illegitimates that are forced to attend. Children are bused to these schools to maintain the liberal policy of racial parity. If you can afford to take your kids to school you can get away from busing and then if you can afford a private school you have choice. They closed 26 public schools a few years back in Kansas City because everyone was sick and tired of their kids being bused into trash dumps - families packed up and moved and liberals then lost the tax basis to support their assanine policies. I've been through this maze. Choice is avaliable in America if you can sacrifice enough to afford it - public education with their special courses to attract intelligent students is a failure.

 

[SteelSaving]

*Update*
KC, MO schools lost their accreditation.
It's funny to me and couldn't happen to a more deserving city of free loaders. It's looking more and more like Detroit every day.
The one issue though, is that all the other metro area Missouri districts aren't being given money for taking in the extra students.

 

[Birchtree]

Perhaps most of the extra students will end up dropping out and the prison system takes them in and teaches them some skills.

 

[SkyPilot]

School Budgets: The Worst Education Money Can Buy

 

[Sensei]

It's my experience that the single greatest factor in determining the effectiveness of a public school is the demographics of the community it's in. Occassionally you get a "Stand and Deliver" success story in a low SES school - and when that happens, they make a movie about it.

 

[SteelSaving]

And then quickly run out of town.

 

[pmcint01]

I drive to Camden, NJ every day to catch the commuter train to Philly. It is a complete S**T hole and really should be bombed off the face of the earth. The school taxes we pay in this state are killing everyone. The state workers here including teachers do not have to pay anything for health insurance. No premiums what so ever. It's funny because I keep hearing how Federal Employees have such good benefits. Yet I pay $3,600/yr in health insurance premiums and at least $8,000 more a year in co pays, deductibles, and co-insurance.

School Budgets: The Worst Education Money Can Buy