This GTR is SLAMMED
09-30-2009, 07:55 PM
#92
Community Organizer
If I were to own a GT-R, it would be garaged...
09-30-2009, 08:57 PM
#93
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Join Date: Sep 2002
Location: panhandle state
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Originally Posted by Mr.E.G.,Sep 30 2009, 09:24 AM
ehh, I don't know man. A few years ago I lived in Orlando and Florida was going through a major real estate boom. I have never owned a house, but all of my friends there who made significantly more money than I did/ were far more educated than I am, all fell all over themselves to buy houses to flip because the real estate bokm was just so crazy.
I didn't need to have any type of formal education or experience buying a house to know that something wasn't right. When it all comes down to it, Orlando isn't that fvkking cool, and what would be a 100k house in Dallas was a 400k house in Orlando. I predicted that the whole thing was a house of cards and that if 5 out of 5 people that were in the room with me were investing in second houses and condos to flip that there was no way that the market could continue to support that much effortless profit.
Fast forward a year or so and once all of these houses and condos that people were buying prior to being built actually started being built it became clear that half of them were investment properties. There was a high rise in Orlando that people were putting huge deposits on a year in advance. Once the thing got built it was discovered that something like 20% of the people that put the deposit down actually had intentions of moving in.
Naturally, I did not foresee the nation-wide problem, but I also did not need any expertise to see the writing on the wall. People were paying more for houses than they were worth and that shit can't last.
In other words, I don't think I am as skeptical as you that s2020 was able to see disaster coming.
I didn't need to have any type of formal education or experience buying a house to know that something wasn't right. When it all comes down to it, Orlando isn't that fvkking cool, and what would be a 100k house in Dallas was a 400k house in Orlando. I predicted that the whole thing was a house of cards and that if 5 out of 5 people that were in the room with me were investing in second houses and condos to flip that there was no way that the market could continue to support that much effortless profit.
Fast forward a year or so and once all of these houses and condos that people were buying prior to being built actually started being built it became clear that half of them were investment properties. There was a high rise in Orlando that people were putting huge deposits on a year in advance. Once the thing got built it was discovered that something like 20% of the people that put the deposit down actually had intentions of moving in.
Naturally, I did not foresee the nation-wide problem, but I also did not need any expertise to see the writing on the wall. People were paying more for houses than they were worth and that shit can't last.
In other words, I don't think I am as skeptical as you that s2020 was able to see disaster coming.
But my point is that he, s2020, couldnt have been that sure of himself if he didnt put his money where his mouth is, or, more pointedly, shouldnt "break a wrist stroking his ego." Not buying a house due to a hunch that something is awry in the housing market is one thing. shorting bear sterns at 133/share is another. And, frankly, unless one did the latter, they don't have anything to brag about. IMO.
10-01-2009, 08:24 AM
#95
Originally Posted by S2020,Oct 1 2009, 12:58 AM
edit....
I don't argue on the internet.
I am going to enjoy my life and not trying prove anything to some guy in Oklahoma. I also found this ignore button.
bye bye.
I don't argue on the internet.
I am going to enjoy my life and not trying prove anything to some guy in Oklahoma. I also found this ignore button.
bye bye.
10-01-2009, 08:38 AM
#96
Originally Posted by dat boi,Sep 28 2009, 03:02 AM
Sucks for the owner but those are nice pics 
How are you going to try and sell GTR wheels? I'm sure right as they go up on craigslist or on a random car, they'll be easy to spot because lets face it, GTRs aren't as common as our seats.
How are you going to try and sell GTR wheels? I'm sure right as they go up on craigslist or on a random car, they'll be easy to spot because lets face it, GTRs aren't as common as our seats.
![[DT]'s Avatar](https://www.s2ki.com/forums/customavatars/avatar91853_2.gif){kind=avatar}
Not all markets were over-priced, Texas values have held up pretty well overall.
