| SFace 
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In United States
Registered Dec 02, 2009
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Your whole life is summarized by the credit card you carry.
You have your debit card,
you have your no benefit credit card,
you have your gold, platinum and black card.
My old boss and father-in-law carries the Amex Black, which inspires me to work on the same. It says a lot about yourself and what you demand of yourself. Some poeple want surf and turf, some wants caviar and Foie Goie yet some just want a full stomach.
What do you want in your wallet?
SFace's most recent comments:
- On 21 May 2013
in
Is real estate bubble 2 showing some strain?,
SFace said:
Mobi says
This time is different b/c a lot of fools are still in the credit jail
waiting to buy.
That's a great way to put it. - On 21 May 2013
in
Fiserv - Moody's Case-Shiller Forecast - SFBA,
SFace said:
bmwman91 says
Well, if the forecast is true...fuck this place. I'll take my DINK butt
somewhere else. All the fortune seekers can have the place, as much as I will miss the many awesome things to do here & my extended family. I am unwilling to go into an outrageous amount of debt & give up my financial security and disposable income to purchase some wooden box. I practically grew up in a residential construction site, and there really is nothing "special" about the
houses here, except the location. And since location is everything, I guess
there's no hope.
I told you in Feb 2012 that "you" were in the fact the demand and not know it or believe it. lol
Having the benefit of knowing how people think and react, the next wave of buyer will be exacly the same ones that lost their home in 08-11 and drive the market for another 3 years.
The fiserv chart has been amazingly accurate. - On 21 May 2013
in
Is real estate bubble 2 showing some strain?,
SFace said:
Severely negative cash flow/ridicolous permanent cost (based on 5.5%-7% interest rate, ninja bombs (including many subprime) that got everyone into the market and an industry building 2M+ homes for multiple years, much more than needed.
Once price stops appreciating, there was no way holding on makes any sense. This is entirely different in 2013. You lose your house purchased in 2006 in 2008 and your payment goes from 3K to 1.5K. You lose your house purchased in 2010 in 2013 and your payment goes from 1.5K to 2K.
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