6 May - Man your battle stations!

[Ripcord]

(05-06-2012 07:42 PM)vonredbird Wrote:  

(05-06-2012 07:35 PM)Cointreau Wrote:  Myself, I don't expect the PM's to fall much further, if at all. The two election results are pretty bullish for silver in the long run as Europe has said au revoir to austerity. which means more spending, higher deficits and a bigger debt bubble. Correct me if I am wrong.

all i can say is "i hope you're wrong." i want cheaper silver. i don't think any of us actually "know" what's going to happen. to be honest, i'm getting bored of all these financial games and politics. i used to be really into it and study for a couple hours a night but it's just the same story over and over.

I'll keep stacking but I agree w/ you 100%

[vonredbird]

(05-07-2012 06:58 AM)nosirrahx Wrote:  I am just about to buy a house myself. I live in America so even though that I have assets over 5 times the price of the house and an income over the price of the house I cannot finance any of it without a co-signer because I have not played the debt game. If I had half the income and half the assets but 3 loans on my credit report I would qualify with ease.

It sucks that we have a system were unless you go into debt immediately at 18 you can end up effectively blacklisted later in life.

i so agree with your statement. it is a silly system designed to benefit those in power and to control us. money is cheap to borrow however, if you can find a way to make money off the cheap money then go for it. i borrowed $40k to buy silver at $17. i still haven't sold any and likely never will, well, until the time comes. of course with hindsight it would have been nice to sell out at $48 and rebuy now but i'm not worried...it's going parabolic...just be patient.

[vonredbird]

(05-07-2012 07:35 AM)dragonfly5 Wrote:  

(05-06-2012 11:53 PM)vonredbird Wrote:  

(05-06-2012 10:51 PM)dragonfly5 Wrote:  In Canada also - not so lucky job wise - self employed now and basically it's underemployed. My wife got laid off 2 years ago and hasn't been able to get back into her field so it's been a bit tough. Mortgage on our house is now a line of credit which I really want to eliminate and pay down when I can. We're looking at selling and renting for a year or two and then buying back in when real estate is more reasonable - because right now it's crazy expensive and I can't wrap my head around how people can pay so much for houses. I really think that if interest rates take a hike then the house prices will take a 10-25% correction.



Seems like there has been a lot more talk on the board recently about silver going down and as I started stacking only recently having another great buying opportunity would be great.

from my experience, if you're living in a high land value area such as vancouver and you sell... it is very unlikely you will ever rebuy in the same area. unless you move to another city where house prices are cheaper, the likelyhood you can save up a downpayment and rebuy before the market increases is slim. ya, the housing market may correct 10% but unless you are an avid saver or you have equity in your existing home (which you will put aside and not spend), saving for a downpayment will be tough. my suggestion would be to enroll in some part time studies that would benefit your self-emplyment. that's what i've done and increased my income by 300%
very tough decisions, and i'm not in your shoes...just my pennies worth

Thanks for your pennies worth and I do not disagree with what you say. We are still undecided as to what to do. I'm glad your extra studies resulted in a much better opportunity. We're not in the Vancouver area but they have already taken a 30% correction. My mother lives in the Okanogan (Central, south B.C.) and she is in the process of selling - they've also taken a 25% hit in the last year. We're outside of Toronto and it's really getting crazy for prices and no correction as of yet. I really feel that something is going to give and even a 1-2% increase in interest rates will trigger a huge slowdown in the market. We are looking to downsize anyway so buying again in a couple of years is not out of the question.

i wish you luck in what ever decision you make. home prices are insane, here is vancouver we've been somewhat insulated from a downturn. with the asian and middle east immigrants landing here and the lack of land space to expand, i don't see any major downturn. maybe 10-15% but it won't last long. as for the 1-2% increase, that will kill the housing market, that's why i think it won't happen. it would also end up in many defaults for the banks here. crazy times...keep stacking, i think we'll be rewarded in a few years.