[mikeb1958]

I am in the rare coin and bullion business and with Gold over $1025.00 a ounce and Silver almost $21.00 per ounce, they have been sky-rocketing up fast. With a barrel of oil hanging around $110.00 and the US Dollar falling against every major currency, people are flocking back to the precious metals. Very popular for over 2000 years now......

[Hornchurch]

Originally Posted by mikeb1958

I am in the rare coin and bullion business and with Gold over $1025.00 a ounce and Silver almost $21.00 per ounce, they have been sky-rocketing up fast. With a barrel of oil hanging around $110.00 and the US Dollar falling against every major currency, people are flocking back to the precious metals. Very popular for over 2000 years now......

Very Interesting post, Mike.

Wonder whether Diamonds will hold their investment potential, as well as precious-metals ????????


Spoke to my Mum on the phone about an hour ago.

She said they've just had an 'Oil-Delivery' (small-tanker) re-fill, for their Oil-tank (Oil Fired Central-Heating system)

She ordered the EXACT same quantity as my Dad did the previous time they filled-up their 'Tank' (coupla months back).

Instead of £350 - it's jumped up to £475 ; a WHOPPING GREAT £125 ($250 U.S.) increase !!!!!!!!!!!!!!!!!!!

& they're both 'Retired' pensioners........ = & that's just to heat their house for a few months

[Rush104]

As far as the people losing their money in the current housing market bust- it's hard for me to have any sympathy for most of those involved.
During the housing boom a few years ago, all the houses being built were not what one could call "affordable single family homes", at least not in the traditional sense. They're all two or three story houses, modelled on the houses found in the more affluent neighborhoods when I was growing up. The houses were being sold for WAY above what they were worth; in part due to these properties being bought by speculators prior to the houses being built and sold. Add to that banks making loans to people who should never have qualified for those big loans in the first place, and the people who took out the adjustable rate mortgages. Particularly those people who, when they took out the ARMs, made little or no attempt to put themselves in a better position financially to still be able to afford the mortgage once it increased after the low-rate period was up. These people were either greedy, or stupid, or both. They brought their current situations upon themselves...

[jim]

Originally Posted by Hornchurch

Very Interesting post, Mike.

Wonder whether Diamonds will hold their investment potential, as well as precious-metals ????????


Spoke to my Mum on the phone about an hour ago.

She said they've just had an 'Oil-Delivery' (small-tanker) re-fill, for their Oil-tank (Oil Fired Central-Heating system)

She ordered the EXACT same quantity as my Dad did the previous time they filled-up their 'Tank' (coupla months back).

Instead of £350 - it's jumped up to £475 ; a WHOPPING GREAT £125 ($250 U.S.) increase !!!!!!!!!!!!!!!!!!!

& they're both 'Retired' pensioners........ = & that's just to heat their house for a few months

YOU MEAN TO SAY THE GOVERNMENT IS TELLING US LIES!!!!!!!!!!

I thought they said inflation was only 2.5% per anum!!!

Sheesh yer can't trust anyone these days.

[smartd]

Originally Posted by Rush104

As far as the people losing their money in the current housing market bust- it's hard for me to have any sympathy for most of those involved.
During the housing boom a few years ago, all the houses being built were not what one could call "affordable single family homes", at least not in the traditional sense. They're all two or three story houses, modelled on the houses found in the more affluent neighborhoods when I was growing up. The houses were being sold for WAY above what they were worth; in part due to these properties being bought by speculators prior to the houses being built and sold. Add to that banks making loans to people who should never have qualified for those big loans in the first place, and the people who took out the adjustable rate mortgages. Particularly those people who, when they took out the ARMs, made little or no attempt to put themselves in a better position financially to still be able to afford the mortgage once it increased after the low-rate period was up. These people were either greedy, or stupid, or both. They brought their current situations upon themselves...

Lots of dipshits have been lining up in Toronto to get a chance to buy new Condos in the Mid-town area. Up to a million bucks for a crappy little condo and folks are lining up. Total crap.

[parsig9]

Originally Posted by smartd

Lots of dipshits have been lining up in Toronto to get a chance to buy new Condos in the Mid-town area. Up to a million bucks for a crappy little condo and folks are lining up. Total crap.

That's nut's. Other than the stupid HGTV shows that I just shake my head at, I really have no idea what all this pressure house buying is all about.

A million bucks seems crazy to me. Here in corn country, $160,000 still buys 2500 square feet not including the finished basement. Anything more seems nuts to me but then, I still don't get $45,000 pickup either. It's got to go bust eventually. I always wondered, "Who's making all these payments"?

Seemingly lots of people aren't!

[Cardinal]

Originally Posted by Hornchurch

Very Interesting post, Mike.

Wonder whether Diamonds will hold their investment potential, as well as precious-metals ????????


Spoke to my Mum on the phone about an hour ago.

She said they've just had an 'Oil-Delivery' (small-tanker) re-fill, for their Oil-tank (Oil Fired Central-Heating system)

She ordered the EXACT same quantity as my Dad did the previous time they filled-up their 'Tank' (coupla months back).

Instead of £350 - it's jumped up to £475 ; a WHOPPING GREAT £125 ($250 U.S.) increase !!!!!!!!!!!!!!!!!!!

& they're both 'Retired' pensioners........ = & that's just to heat their house for a few months

The price of diamonds has always been artificially inflated by strict control of supply via the international cartels. Also, with the advent of flawless artificial diamonds that are 'atomically' the same, I wouldn't consider them worthwhile investment instruments (unless they're 'natural' and the size of a pigeon egg or bigger ).

[Rush104]

Originally Posted by parsig9

That's nut's. Other than the stupid HGTV shows that I just shake my head at, I really have no idea what all this pressure house buying is all about.

A million bucks seems crazy to me. Here in corn country, $160,000 still buys 2500 square feet not including the finished basement. Anything more seems nuts to me but then, I still don't get $45,000 pickup either. It's got to go bust eventually. I always wondered, "Who's making all these payments"?

Seemingly lots of people aren't!

If houses were valued properly, most of the houses in the neighborhood I grew up in should fetch between 125-140,000 dollars. I could see some going for 175,000; but only if there was something else thrown in there- like an addition or being located on the lake.
Unfortunately, due to the inflated assessments, a lot of these houses have been going for close to 200,000- and some for well over that!

[Cavtanker]

The wife and I took advantage of this buyer's market and bought a house last weekend. The basement will, of course, be my AO with my diecasts. At least I'm wise and know better than to over-extend myself on $$$. I cannot believe that some people live off of credit and paycheck to paycheck.

[jim]

Originally Posted by Hornchurch

Jim, I thought that was Pete Waterman (who used to own a real one; a Giant called "Britania" - curiously only spelt with ONE 'T')

I'm a MASSIVE ('ex') Yes fan, so I wouldn't mind being a few 'bob' behind him (Rolls-Royces/Mansions etc; not to mention his gorgeous 'ex'-wife - Nina - an 'ex' Page-3 Girl !!!!!!!!!!!!!!)

One man who ain't gonna have to worry about worldwide recession !!!!!!!!!

Ah yes, thanks for the memory prompt Hornchurch. Lorraine thinks "Yes" was a really cool band but I dont know if that counts,
because she also likes T Rex!!!!!! (Groan).


BTW many congrats Cav on moving into your new home, I hope den will be filled with diecast happiness.