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Home Ownership: Do You Have The Courage To Buy Into This Housing Market?
Almost half of all American adults no longer believe that home ownership is a realistic way to build wealth.
That’s according to Gail Cunningham of the National Foundation for Credit Counseling, quoted in Barron’s this week.
Given that home ownership is a cornerstone in almost every wealth-building plan, this is astonishing. Even if the days of selling a house for an enormous profit are over, building equity in a home beats the pants off paying rent.
Of course, home ownership is not always better than renting, but in most cases, it still is. And even if home prices are flat, building a little bit…
2Jul2009 | Smart Profits Report | 1 comment | ContinuedFinancial Markets Overview
In Greek mythology, Sisyphus was a king punished by the gods. In the Greek equivalent of hell, named Tartarus, Sisyphus was cursed to roll a huge boulder up a hill – only to watch it roll down the hill again. Sisyphus’ punishment was to repeat this task throughout eternity.
In the midst of this punishing bear market, I think that many investors who read Bourbon & Bayonets are probably feeling like Sisyphus right now. Many investors have seen their accounts, such as their 401k, back down to levels last seen a decade ago. Like Sisyphus, they have had their investment accounts…
23Feb2009 | Oxbury Research | 0 comments | ContinuedCommercial Real Estate Leaves An Awkward Taste
During the work day I usually keep CNBC on to see if the Talking Heads are doing something entertaining on any given day. Usually I keep the volume low or muted until a story or person of interest pops up. As the latter hours of the morning were coming to a close the CNBC “Real Estate Task Force” with Re/Max CEO Margaret Kelly and Charles Cohen from Cohen Brothers Realty popped up. I figured on my way out to lunch I would at least give this motley crew a few seconds of my time. I didn’t listen to the whole…
5Feb2009 | Oxbury Research | 0 comments | ContinuedHow to Invest in the Booming Real Estate Market
Investing in the booming real estate market… ?
Lest you think I’ve gone totally off my rocker, let me explain. Last night, I received an interesting phone call from an old friend of mine. Jim’s in his forties, has a wife and a couple of kids, and lives in Orlando, Florida.
Six years ago, when I was vice-president of a telecommunications company, I hired Jim to run a new specialty business we were setting up in his neck of the woods. He knew absolutely nothing about our business, but he was a smart guy and I felt he was the best person…
28Jan2009 | Investment U | 0 comments | ContinuedKicking Off the Panic of 2009
“Sir, there are no seats left. You’re going to have to stand in the back.”
I was only 10 minutes late, but the conference hall was packed. Every seat was taken. The walls were lined with people.
At that point, I knew without a doubt, there was a lot more downside left in real estate.
Reincarnation of Tom Vu
Last week, I went to one of those “Invest in real estate: become a millionaire” type of seminars.
You know the ones. They show you all the “tricks” to making big money, the easy way.
It was like witnessing the meteoric rise (and inevitable fall)…
16Jan2009 | Q1 Publishing | 0 comments | ContinuedDon’t Forget the Economics
Jan. 14 (Bloomberg) — Apple Inc. Chief Executive Officer Steve Jobs, who said this month that he is being treated for a nutritional ailment, will take a medical leave of absence through the end of June. The shares fell 10 percent.
Although I wish the best for Steve Jobs, I care very little about this whole Apple story. The reason I bring it up is due wholly to CNBC. They’ve covered this story, along with the Madoff, for a large portion of the day.
But the reason I wanted to talk about Apple today actually has to do with some of…
15Jan2009 | Oxbury Research | 0 comments | ContinuedIt’s Time to Get Real About Real Estate
Once again, real estate market watchers have pounced on a shred of seemingly positive news to proclaim that the long sought “bottom” is in sight. The routine is becoming extremely stale, but somehow the media never seems to tire of it. This time the “good” news was that the percentage declines in national home prices (according to Case Shiller) in July were not as large as they were in June.
Although the report contained many other negative data points, including increased inventories and a spike in foreclosure sales, it was the slowing declines that got the spotlight. Talk about grasping at straws.…
2Sep2008 | Money Morning | Comments Off | ContinuedWhat’s the real value of real estate?
On July 8th, in an article titled, “The Housing Crisis: Denial is the first stage†(which was posted the following day, and you can still find it in our archives), I discussed the problems with the current housing market and why the situation seemed grim. The conclusion of the article included the following excerpt:
“…I will issue a blanket statement urging people not to look for bottoms in bank stocks, housing stocks, and yes, even Fannie Mae and Freddie Mac. These stocks have gotten crushed, but I’m not convinced that they can’t get stepped on further…â€
Everyone is wrong from time to…
22Aug2008 | Oxbury Research | Comments Off | ContinuedSCORCHED EARTH ECONOMY
Here at Casey Research we have been on the record as bearish on the outlook for the economy for some years now. Lest you think that is loose boasting, I can offer proof in Doug Casey’s August 2005 article, the dramatically titled “Profiting from the End of Western Civilization”.
In that article, he looked ahead and saw the inflation that the government’s loose money policies made inevitable. A quote…
“Of particular importance is that the U.S. dollar has been used as a gold substitute for decades by other countries. This has been very convenient for the U.S. – we can create almost…
11Jul2008 | Daily Reckoning | Comments Off | ContinuedSpooked by a Combination of ‘Flations’
What not to do with your money now…
It has been the worst June in 77 years, says Bloomberg. In June of 1930, the Dow lost 18%. So far, it is down 9.4% this month. Since this is the last day of the month, we presume that is where it will stay.
The rest of the news is not much better. Oil closed over $140 a barrel on Friday. OPEC’s president says it could go to $170 by the end of the year.
And the New York Times says the number of people who can’t pay their mortgages continues to grow. There were…
1Jul2008 | Daily Reckoning | Comments Off | Continued
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