You know what I wrote last July 14, 2007? It’s this one: US Dollar Hits New Low! Then yesterday, Wall Street had a very tough day, dudes and dudettes! The Dow tumbled 226 points on worries that housing, subprime mess will dent corporate earnings growth and it looked like it will because most investors were worried about the prolonged housing slump! And boy, I was so damn right!
When did I ever become a stock market analyst?
No, am not. I’m just a regular geek blogger who reads Business Week, Forbes, Wall Street because I had no freakin’ choice. Why? Because I subscribed to truckloads and truckloads of shit papers and I realized they’re just gonna be trashed so why not read them, ha?
The next and biggest wave of problem loans could come as monthly payments soar for both prime and subprime borrowers who took out adjustable-rate loans with little or no documentation, or who used so-called piggyback loans on top of their first mortgages to make up for small down payments, analysts said. These exotic loans were the only way many borrowers — even those with good incomes and sterling credit histories — could afford to get into the housing market as home prices soared in the last decade. But now those decisions are looking suspect.
Watch out for you investments my readers!
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{ 5 comments… read them below or add one }
There is money to be made…hehehehe! Wait for the bottom of the bottoms, and buy (not the houses) but the stocks.
Or go to HK, and place the money there in Yuan. haha.
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This is why I went in for the 30 year fixed rate…but at first I though I made a mistake…and I was almost tempted to refinance into an ARM…Very tempting indeed as I would be paying sbout half of what I am paying now…. But oh it feels good to know that I made the right decision, after all…
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That was good Kuta. I know one friend who fell victim to these stupid ARM selling the house for a much lower price because after x number of years when the true interest kicked in? His monthly mortgage payment spiralled yet his personal income did not increase. Repeat this story bizzillian times – this is what’s happening at the moment.
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Avah, mangani ngani akong dagukan ni fafa ng mag insist ako ng 30 year fixed! Mabuti na lang nagbasa ako ng “the courage to be rich” by suze orman, o davah???? Saka nakikikapit ako sa brilliance mo kaya feeling ko may alam din ako sa mga market market ek ek na yan, hahahahaha…
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AVAH! susie ormanishiszkie ka pala! magaling! I read a few of her books! It’s good to read and to follow as well as Rich Dad!
Ako? Pag nagsulat ba ako nang libro babasahin mo ba o bibilhin mo para lang sa fireplace mo?
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