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post #21 of 29 (permalink) Old 10-12-2008, 06:33 PM
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Actually, a case of Lawrenceville myopia here is preventing you from embracing a perspective different than your own. It was your silly analogy to compare the guy's entire life with a game of craps, right?
(I have to get cooking, or I'd have consolidated this into one series of responses..)

My point was this - when you have ENOUGH to have met your goals, the prospect of additional future gains becomes irrelevant unless you're a slave to greed. Prices don't go up forever, but if your time horizon is broad enough, the AVERAGES can be acted upon with some predictability. As one retires, their time horizon for such activities shortens quite a bit.

It sucks for him, I'm sure. The lessons to be learned from his experience aren't new or unique. Let's focus on people with real problems for a change.

Last edited by Qubes; 10-12-2008 at 06:34 PM. Reason: Rephrasing.
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post #22 of 29 (permalink) Old 10-12-2008, 06:42 PM
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Crane operator required

Must be a high profile job


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yes ?
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post #23 of 29 (permalink) Old 10-13-2008, 01:42 PM Thread Starter
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This is Burj Dubai, the highest skyscraper right now.
Burj Dubai Official Website
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post #24 of 29 (permalink) Old 10-13-2008, 01:44 PM Thread Starter
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Is that an opening for another settlement around Jenin or Beit Laham?
No. There's no confiscated land nor an apartheid wall.
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post #25 of 29 (permalink) Old 10-13-2008, 02:52 PM
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As much as he worried about his neighbors, Cantrell never thought he would become a casualty of the housing crunch. He was a retired Navy man with a solid pension. He had a job in construction management and, with his impressive work ethic, was making $250,000 a year, plus a hefty bonus. His credit rating was in the 700s. So in 2006, he bought a $670,000 house, then spent $100,000 to add a pool and miniature golf course in the back. It seemed sensible enough at the time. He had made a tidy profit when he sold his last Anderson Home, a smaller one in the next neighborhood over. He had already raised five children and the big house and pool were for his wife and grandchildren to enjoy.

"You're a smart man, Dave," the sales agent told him when he bought the house. "This house is grossly underpriced."
This is when the guy made the biggest mistake of his life... At his age, with his kids having left home, what the heck was he doing upgrading his home and taking on massive new debt. A classic case of self-delusion
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post #26 of 29 (permalink) Old 10-13-2008, 02:57 PM
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Yeah, something's fishy. If he was making $250K per year, why wasn't he able to pay cash for the home in the first place? I dunno, still pretty sad. The building industry tanks, and this poor slob gets double-whammied.

"If spending money you don't have is the height of stupidity, borrowing money to give it away is the height of insanity." -- anon
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post #27 of 29 (permalink) Old 10-13-2008, 03:40 PM
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Fishy fish, fishy fish...

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post #28 of 29 (permalink) Old 10-13-2008, 03:49 PM
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I have to get cooking.

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Originally Posted by QBNCGAR View Post
(I have to get cooking, or I'd have consolidated this into one series of responses..)

My point was this - when you have ENOUGH to have met your goals, the prospect of additional future gains becomes irrelevant unless you're a slave to greed. Prices don't go up forever, but if your time horizon is broad enough, the AVERAGES can be acted upon with some predictability. As one retires, their time horizon for such activities shortens quite a bit.

It sucks for him, I'm sure. The lessons to be learned from his experience aren't new or unique. Let's focus on people with real problems for a change.
Hey Que, make sure you use Charcoal .

Last edited by the clk man; 10-13-2008 at 05:13 PM.
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post #29 of 29 (permalink) Old 10-13-2008, 10:27 PM
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Yeah, something's fishy. If he was making $250K per year, why wasn't he able to pay cash for the home in the first place? I dunno, still pretty sad. The building industry tanks, and this poor slob gets double-whammied.
That is what I was thinking. You make 250k a year, sold another home, worked your whole life and have jack shit to show for it? 25% down? where the hell did the rest of it go? I would like to meet these people. It sounds like a couple of kids that just got their first paycheck or bonus. Spend every dime of it because I will get some more next week. I feel sorry for the 40 year old with the family that lost his job. The retarded ( sorry "retired") guy that has seen economic down turn and should know that they were on the high side of the real estate boom should know better. What is up with the guy that got fired and didn't work for 11 months? Your fired, Move on, Find work.

"Fat, Drunk and Stupid is no way to go through life."
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