Chuck,
There are many people who do make money by selling their primary residence
and moving to a less expensive area.

I know people who lived in bungalows on the west coast, and then purchased
mansions when they left. If someone lived in Naples, and then retired
elsewhere, they could downsize and make a very tidy profit living purchasing
a home in most other areas of the US.

--

Starbuck

-- Sacha Guitry - The little I know, I owe to my ignorance.


wrote in message
oups.com...

NOYB wrote:
"Starbuck" wrote in message
...
NYOB,
Harry and Kevin are the only ones who are upset that you have done so
well
with the housing market. They are jealous.


Actually, it really seems to bother DSK the most. He has sent the most
doomsday warnings my way...but he is followed closely by Gould.


DSK doesn't have to work hard to beat my number of warnings; I sent you
one.

Get thou to Amazon.com and purchase a book: Extraordinary Popular
Delusions and the Madness of Crowds.

Then sing along:
All Around the Hurricane Zone
Where wages are in trouble
The housing prices rise and rise
'Til "pop" goes the bubble.

You know, NOYB, at one time I was under the impression you had a couple
of bucks or so. People with money don't launch a thread to to announce
"look how well I'm doing financially." Besides, how many houses do you
own in Naples. One?
Que lastima, Doc. That's not an investment- (unless you decide to go
pitch a tent down on the beach and rent it out). If you sell it for
$99999999999999.00, you'll surely have to spend at least as much to buy
another. You're no richer, and no poorer than if your house were worth
$29,000.....you still need a place to live. Until you don't need a
place to live, you can't extract a dime.

This is exactly what happened in Houston during the oil boom and bust period
in the 80's. 6000 sq. foot homes were selling for $200,000 due to all the
bankruptcies. Banks were doing anything to clear their books of homes
people could not afford to buy.

--

Starbuck

"External reality is sort of an affectation of the nervous system." -- Jaron
Lanier

wrote in message
...
On Sun, 18 Sep 2005 18:07:34 GMT, "NOYB" wrote:

There are too many baby boomers looking to retire
down here.


The real bust will happen when SS goes upside down, the market tanks
and private pensions start failing.

The first time one of those boomers actually loses money on a bad
investment in a home things will start tumbling pretty fast. It will
really affect "want" houses worse than "need" houses but all will see
the effect. The real problem will be people who owe a lot more than
the home is worth. They may end up just walking away from the
mortgage. Banks are stuck with a lot of hard to sell property that is
a negative cash flow. They end up cutting their losses and taking what
they can get. That is when things tumble.

A nice waterfront property with salt water access will always demand a
premium but a lot of those McMansions that are just depending on
ambiance and a gate guard are going to be screwed.

wrote in message
oups.com...

NOYB wrote:
"Starbuck" wrote in message
...
NYOB,
Harry and Kevin are the only ones who are upset that you have done so
well
with the housing market. They are jealous.


Actually, it really seems to bother DSK the most. He has sent the most
doomsday warnings my way...but he is followed closely by Gould.


DSK doesn't have to work hard to beat my number of warnings; I sent you
one.

Get thou to Amazon.com and purchase a book: Extraordinary Popular
Delusions and the Madness of Crowds.

Then sing along:
All Around the Hurricane Zone
Where wages are in trouble
The housing prices rise and rise
'Til "pop" goes the bubble.

You know, NOYB, at one time I was under the impression you had a couple
of bucks or so. People with money don't launch a thread to to announce
"look how well I'm doing financially."

This wasn't a "look at how well I'm doing thread". This is a continuation
of a thread in which you and/or DSK debated the possibility of a crash in
the Naples market. You both felt is was inevitable, and I disagreed. I
created this thread to bask my assertions made in the other thread. I'm
sorry if you took it the wrong way.

"Starbuck" wrote in message
...
Chuck,
There are many people who do make money by selling their primary residence
and moving to a less expensive area.

I know people who lived in bungalows on the west coast, and then purchased
mansions when they left. If someone lived in Naples, and then retired
elsewhere, they could downsize and make a very tidy profit living
purchasing a home in most other areas of the US.

Or they could do a reverse mortgage and retire off the 1000% increase in
equity that they accumulate over the the next 25 years.

"thunder" wrote in message
...
On Sun, 18 Sep 2005 18:07:34 +0000, NOYB wrote:


I figure that once the NE slows, we'll soon follow. They'll be a
slowdown, but never a correction. There are too many baby boomers
looking to retire down here. The SW coast of Florida used to be mostly
midwesterners. But the housing prices in the midwest aren't keeping pace
with the prices down here. So we're seeing more buyers from the NE, the
West, and overseas.

You bought your house for the right reasons, as a place to live and
additionally, long term. I don't see you at risk, long term, but geez,
"never a correction." All the warning signs are there.

I agree. But I don't think prices will "correct". They'll plateau and
stagnate, but not fall significantly. Demand is increasing exponentially
with the baby boom population retiring.


I read somewhere
that speculators are a third of your market.

I've read up to 40% in some areas like Punta Gorda. It's much, much lower
in Naples.

You have people in the
industry openly denying the bubble will burst. Guy, remember "bust" is
part of the "boom and bust" cycle. It ain't an "if", it's a "when".

I agree with you. I see the market cooling, but I just don't believe that
you'll see significant price corrections.

Naples/Marco saw over a 35% price increase in the 2nd quarter alone (4
months!)...putting it #1 in the country in appreciation for that quarter.

My brother looked at a villa yesterday that the seller closed on in July
2005. She bought it pre-construction in 2004, so the price was locked in.
Regardless, in July, it closed for $209,900. My brother was too late
yesterday. It sold for $350,000. Two months and $140k profit. And she had
two offers on it already.

NOYB wrote:
"Shortwave Sportfishing" wrote in message
...
On Sun, 18 Sep 2005 17:42:30 GMT, "NOYB" wrote:

When home prices hit the outer stratosphere, the number of potential
buyers
admittedly shrinks. But the Naples luxury market is still in boom mode,
local agents say, despite forecasts of a housing bubble that some predict
eventually must burst.

A slowdown?

You will get your turn and sooner than later.

It's already starting up here in NE.

I figure that once the NE slows, we'll soon follow. They'll be a slowdown,
but never a correction. There are too many baby boomers looking to retire
down here. The SW coast of Florida used to be mostly midwesterners. But
the housing prices in the midwest aren't keeping pace with the prices down
here. So we're seeing more buyers from the NE, the West, and overseas.

Major money types are calling the Naples real estate market just what
it is, a mini-bubble, and it's going to burst.

Kevin,
The Wall Street Journal says one has to be careful of any market that has a
large increase in a short period of time, but they are suggesting caution,
not a forecast of a bust.

Who are these Major Money Types and do you have a link to their predictions?
Do they own a "Desmo"?

--

Starbuck

.... Hard work never killed anybody, but why take a chance?
wrote in message
oups.com...

NOYB wrote:
"Shortwave Sportfishing" wrote in message
...
On Sun, 18 Sep 2005 17:42:30 GMT, "NOYB" wrote:

When home prices hit the outer stratosphere, the number of potential
buyers
admittedly shrinks. But the Naples luxury market is still in boom mode,
local agents say, despite forecasts of a housing bubble that some
predict
eventually must burst.

A slowdown?

You will get your turn and sooner than later.

It's already starting up here in NE.

I figure that once the NE slows, we'll soon follow. They'll be a
slowdown,
but never a correction. There are too many baby boomers looking to
retire
down here. The SW coast of Florida used to be mostly midwesterners. But
the housing prices in the midwest aren't keeping pace with the prices
down
here. So we're seeing more buyers from the NE, the West, and overseas.

Major money types are calling the Naples real estate market just what
it is, a mini-bubble, and it's going to burst.

On 19 Sep 2005 06:16:58 -0700, wrote:


NOYB wrote:
"Shortwave Sportfishing" wrote in message
...
On Sun, 18 Sep 2005 17:42:30 GMT, "NOYB" wrote:

When home prices hit the outer stratosphere, the number of potential
buyers
admittedly shrinks. But the Naples luxury market is still in boom mode,
local agents say, despite forecasts of a housing bubble that some predict
eventually must burst.

A slowdown?

You will get your turn and sooner than later.

It's already starting up here in NE.

I figure that once the NE slows, we'll soon follow. They'll be a slowdown,
but never a correction. There are too many baby boomers looking to retire
down here. The SW coast of Florida used to be mostly midwesterners. But
the housing prices in the midwest aren't keeping pace with the prices down
here. So we're seeing more buyers from the NE, the West, and overseas.

Major money types are calling the Naples real estate market just what
it is, a mini-bubble, and it's going to burst.

Did your self-esteem bubble burst when your fabrication of a fake motorcycle was
shown to the world?
--
John H

"All decisions are the result of binary thinking."

On Mon, 19 Sep 2005 08:11:12 -0400, "Starbuck"
wrote:

Chuck,
There are many people who do make money by selling their primary residence
and moving to a less expensive area.

I know people who lived in bungalows on the west coast, and then purchased
mansions when they left. If someone lived in Naples, and then retired
elsewhere, they could downsize and make a very tidy profit living purchasing
a home in most other areas of the US.

That's what I'm gonna do!
--
John H

"All decisions are the result of binary thinking."

On Mon, 19 Sep 2005 09:22:34 -0400, "Starbuck"
wrote:

Kevin,
The Wall Street Journal says one has to be careful of any market that has a
large increase in a short period of time, but they are suggesting caution,
not a forecast of a bust.

Who are these Major Money Types and do you have a link to their predictions?
Do they own a "Desmo"?

You stopped him cold!
--
John H

"All decisions are the result of binary thinking."