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Supply and demand. Sorry to repeat myself.
Topic Started: 4 Aug 2013, 11:13 AM (17,689 Views)
Shadow
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Evil Mouzealot Specufestor

genX
10 Aug 2013, 01:55 PM
Nothing to admit, you are clearly wrong.
Wrong about what?
1. Epic Fail! Steve Keen's Bad Calls and Predictions.
2. Residential property loans regulated by NCCP Act. Banks can't margin call unless borrower defaults.
3. Housing is second highest taxed sector of Australian Economy. Renters subsidised by highly taxed homeowners.
4. Ongoing improvement in housing affordability. Australian household formation faster than population growth since 1960s.
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Sober
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Shadow
10 Aug 2013, 01:49 PM
Yep, and instead of just stating his own position, Sober is spinning himself around in circles and going to bizarre lengths to try and avoid having to admit that I'm right. It's quite entertaining.
I've already stated my own position: your contention that there is "easy credit" for Detroit property purchases is entirely unproven.

No circles or bizarre lengths involved. Just a steady view that your original contention was unfounded, and continued bemusement at your struggles to escape that position without admitting it...

:pop:
Edited by Sober, 10 Aug 2013, 02:00 PM.
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Shadow
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Sober
10 Aug 2013, 02:00 PM
I've already stated my own position
Keep spinning Sober. It's all very entertaining, especially because I know you believe cheap credit is available in Detroit.

I know you agree with me now, and that makes me very happy. :D
1. Epic Fail! Steve Keen's Bad Calls and Predictions.
2. Residential property loans regulated by NCCP Act. Banks can't margin call unless borrower defaults.
3. Housing is second highest taxed sector of Australian Economy. Renters subsidised by highly taxed homeowners.
4. Ongoing improvement in housing affordability. Australian household formation faster than population growth since 1960s.
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Mike
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genX
10 Aug 2013, 01:55 PM
Yes, that answers my question. Sorry, I have a very specific definition of the term 'present value' so I wanted to clarify if you meant that or current market value. From your reply I see that it is neither, but thanks for going into such detail. If market value were to decline by 40% then your nett position would be ~640K, yes?

In your current position I would encourage you to double the size of your portfolio.


Nothing to admit, you are clearly wrong.
If market prices fell 40% in every location I own properties which is 4 different states then yes, most of my net wealth would be wiped out. That is if the banks revalue the loans and demanded I provide cash for the new valuations. That would drain my wealth.

I am certainly trying to expand, the problem with rapidly rising house prices is rapidly rising costs to buy land and build. It makes me nervous.

I am much happier when prices rise slowly or stagnant I can be certain of my gains. If price continue to rise quickly while I build great, but if they don't I have bought land and built at higher prices for a smaller return. It is a challenge. Land is the killer.
http://mike-globaleconomy.blogspot.com.au/
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Sober
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Shadow
10 Aug 2013, 02:01 PM
Keep spinning Sober. It's all very entertaining, especially because I know you believe cheap credit is available in Detroit.

I know you agree with me now, and that makes me very happy. :D
Once again, "cheap credit" is not at all the same as "easy credit".

But do keep trying.

:lol
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Shadow
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Sober
10 Aug 2013, 02:04 PM
Once again, "cheap credit" is not at all the same as "easy credit".
It's too late Sober. I already know you agree with me.
1. Epic Fail! Steve Keen's Bad Calls and Predictions.
2. Residential property loans regulated by NCCP Act. Banks can't margin call unless borrower defaults.
3. Housing is second highest taxed sector of Australian Economy. Renters subsidised by highly taxed homeowners.
4. Ongoing improvement in housing affordability. Australian household formation faster than population growth since 1960s.
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Sober
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Shadow
10 Aug 2013, 02:05 PM
It's too late Sober. I already know you agree with me.
Does that involve the same psychic abilities that you've used to "prove" to yourself that mortgages on Detroit housing are "easy credit" approvals?

Keep sucking that bong, Shadow.

:lol
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Shadow
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Sober
10 Aug 2013, 02:10 PM
Does that involve the same psychic abilities that you've used...
Simpler than that. I gave you many opportunities to state your position. You squandered them all. That's how I know your position is the same as mine. You believe easy credit is available in Detroit.
1. Epic Fail! Steve Keen's Bad Calls and Predictions.
2. Residential property loans regulated by NCCP Act. Banks can't margin call unless borrower defaults.
3. Housing is second highest taxed sector of Australian Economy. Renters subsidised by highly taxed homeowners.
4. Ongoing improvement in housing affordability. Australian household formation faster than population growth since 1960s.
Profile "REPLY WITH QUOTE" Go to top
 
Sober
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Shadow
10 Aug 2013, 02:13 PM
Simpler than that. I gave you many opportunities to state your position. You squandered them all. That's how I know your position is the same as mine. You believe easy credit is available in Detroit.
Hilarious!!!

Keep sucking that bong, Shadow.

:lol
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Shadow
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Evil Mouzealot Specufestor

Sober
10 Aug 2013, 02:16 PM
Keep sucking that bong, Shadow
Abusing me might make you feel better, but it won't change the fact that you agree with me.
1. Epic Fail! Steve Keen's Bad Calls and Predictions.
2. Residential property loans regulated by NCCP Act. Banks can't margin call unless borrower defaults.
3. Housing is second highest taxed sector of Australian Economy. Renters subsidised by highly taxed homeowners.
4. Ongoing improvement in housing affordability. Australian household formation faster than population growth since 1960s.
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