NO…he was 12 months too early….you would have missed a massive runup in stocks for the 15 months that followed his call.

Albani,

Are you kidding me? Check the Gold and Commodities and they blew away your “big run up” to Dow 14K.

I’ve been watching and reading this guy all the way back to the ’90s and the only thing that he didn’t understand was that Bush was not gonna let a recession stop him from being re-elected like his Dad.

Now the Pain is gonna be twice as bad.

I didn’t think you’d want to come all the way to New Brunswick on a weeknight. Syb, Kettle and I all kinda work close to each other so we figured we’d get a beer. Or two. Or seven.

I tip my hat to your funny wit.

*takes bow*
That was me.

Three elements: 1) buyer income; 2) financing and terms; 3) price.

- Buyer income: are people making more money? Yeah, right. People are lucky to be keeping their jobs. And, no matter what you make, be sure to give thanks to Bergabe for allowing hyperinflation to debase whatever purchasing power your $$$ might have.

- Financing & terms: Hah. Unless you have a big DP and 720+ FICO, bend over and grin. No new guidelines, no great jumbo rates, no piggyback. And- BTW- if you’re buying in NJ, your lender now thinks you’re taking at least a 5% haircut the minute the ink dries on your closing docs. Of course, these lenders are going to insulate themselves now against your potential loss becoming their loss.

- Prices: Is 4x and 5x income a reasonable amount to pay, given the above circumstances?

No home, neighborhood, town or county is now immune. The picture is so clear that an 8th grader can grasp it (my daughter is in 9th grade & is sitting next to me right now, nodding her head).

Of course, that FSBO lady in Basking Ridge will be the exception. She’s got granite.

Too bad the biggest chunk of granite is between her ears.

Purchased: 6/21/2006
Purchase Price: $570,000

Current asking: $399,000 (short sale)

MLS# 2508804 – 30 Cypress, Millburn NJ

Purchased: 8/26/2005
Purchase Price: $559,000

Current asking: $529,900

John Says:
April 16th, 2008 at 4:09 pm
Worst night in NYC I went to this nasty place called wileys that only served bud bottles and whiskey. Had a pos Fiat Strada that I parked everywhere cuase it was junk and the hatch back lock was broken, come out at 5am and my two doors are wide open and my passenger bucket seat is back. Turns out the working girls were using it for extra cash and the smell of “da funk” was over powering. Three guys in a Fiat at 5am in the winter two in the back seat with all the windows rolled down in January was a site to see.

Yet they stop inviting him to these shows on CNBC anyone. I guess it sucks being right and making everyone else look like a fool.

http://www.europac.net/video_cnbc_050425.asp

The ending is especially funny.