Comments on: The greatest fools http://www.greaterfool.ca/2009/05/26/the-greatest-fools/ Book and Weblog - Authored by Garth Turner Thu, 09 Sep 2010 19:32:10 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: Roberto http://www.greaterfool.ca/2009/05/26/the-greatest-fools/comment-page-4/#comment-56504 Roberto Thu, 07 Jan 2010 12:04:10 +0000 http://www.greaterfool.ca/?p=2569#comment-56504 Garth back in mid-70's in high school one of our counselors said "we need a depression again so that people smartin up." I asked what he meant, he only said "look it up. " that was 35 years ago. At that time I thought well we have learned from the last depression with safety nets and government watch dogs on investnments and pensions, but I always had an uneasy feeling even in my teens that houses were too expensive in Toronto. I remember that in 1968 you could buy a house, a nice house for $14000.00 that house today is over a million dollars. What you describe about the housing market is nothing new. Its a cycle, it has always been that way with people wanting a piece of real estate. I have seen this trend over and over again. But what I see now my moma warned me about as a child, don't trust you cash with anyone, not even banks, hide some in alternative currency ! She was right look at Enron and AIG and Some of the American banks oh and lets not forget Mr. Madoff, WOW, my mom warned me about these kinds of schemes, she saw them 60 years ago and nothing as has changed except for the clothing and hair styles. Marks was right about greed and jobs, things do not need to be so expensive, a piece of fruit is a piece fruit and a potato is potato. If this planet is in trouble all the gold and money will not get you a thing. People need to realize that bigger is not better. Yes our lives have been made better through research and technology, but otherwise keep it simple. Garth back in mid-70′s in high school one of our counselors said “we need a depression again so that people smartin up.” I asked what he meant, he only said “look it up. ” that was 35 years ago. At that time I thought well we have learned from the last depression with safety nets and government watch dogs on investnments and pensions, but I always had an uneasy feeling even in my teens that houses were too expensive in Toronto. I remember that in 1968 you could buy a house, a nice house for $14000.00 that house today is over a million dollars. What you describe
about the housing market is nothing new. Its a cycle, it has always been that way with people wanting a piece of real estate. I have seen this trend over and over again. But what I see now my moma warned me about as a child, don’t trust you cash with anyone, not even banks, hide some in alternative currency ! She was right look at Enron and AIG and Some of the American banks oh and lets not forget Mr. Madoff, WOW, my mom warned me about these kinds of schemes, she saw them 60 years ago and nothing as has changed except for the clothing and hair styles. Marks was right about greed and jobs, things do not need to be so expensive, a piece of fruit is a piece fruit and a potato is potato. If this planet is in trouble all the gold and money will not get you a thing. People need to realize that bigger is not better. Yes our lives have been made better through research and technology, but otherwise keep it simple.

]]> By: Irishmonk http://www.greaterfool.ca/2009/05/26/the-greatest-fools/comment-page-4/#comment-30729 Irishmonk Tue, 02 Jun 2009 14:33:37 +0000 http://www.greaterfool.ca/?p=2569#comment-30729 Er, to all those hurling invective at the poor saps who are still buying homes, you do realize that those are the folks who are keeping this economy from completely tanking. If everyone suddenly stopped buying real estate, home values would plummet to near zero, and this gossamer thin recovery would turn into a depression the likes from which we may never recover. So, to all those generous, kind-hearted folks loading up on overpriced real-estate--bless you. You're the reason I still I have a job, an internet connection and a sliver of hope. Er, to all those hurling invective at the poor saps who are still buying homes, you do realize that those are the folks who are keeping this economy from completely tanking. If everyone suddenly stopped buying real estate, home values would plummet to near zero, and this gossamer thin recovery would turn into a depression the likes from which we may never recover. So, to all those generous, kind-hearted folks loading up on overpriced real-estate–bless you. You’re the reason I still I have a job, an internet connection and a sliver of hope.

]]> By: Tony http://www.greaterfool.ca/2009/05/26/the-greatest-fools/comment-page-4/#comment-30504 Tony Sun, 31 May 2009 03:55:07 +0000 http://www.greaterfool.ca/?p=2569#comment-30504 #81 Oil Amen I've been buying here and there in the West and South West areas of Edmonton. Mostly townhouses and apartments at a 40 to 50 percent reduction from the peak of June 2007 prices. In the future you'll see all the people who lost their jobs in Ontario moving to Alberta. That my friend i can guarantee is a fact as the cost of living in Edmonton is dirt cheap compared to southern Ontario. #81 Oil Amen
I’ve been buying here and there in the West and South West areas of Edmonton. Mostly townhouses and apartments at a 40 to 50 percent reduction from the peak of June 2007 prices. In the future you’ll see all the people who lost their jobs in Ontario moving to Alberta. That my friend i can guarantee is a fact as the cost of living in Edmonton is dirt cheap compared to southern Ontario.

]]> By: Tony http://www.greaterfool.ca/2009/05/26/the-greatest-fools/comment-page-4/#comment-30502 Tony Sun, 31 May 2009 03:23:40 +0000 http://www.greaterfool.ca/?p=2569#comment-30502 #24 smwhite When the US dollar bottoms out in about a months' time or less you'll see the TSX back at the March 6th level or around the 7,000 mark. Gold, silver and oil prices will be hammered to the downside. #24 smwhite
When the US dollar bottoms out in about a months’ time or less you’ll see the TSX back at the March 6th level or around the 7,000 mark. Gold, silver and oil prices will be hammered to the downside.

]]> By: Slava http://www.greaterfool.ca/2009/05/26/the-greatest-fools/comment-page-4/#comment-30425 Slava Fri, 29 May 2009 21:19:45 +0000 http://www.greaterfool.ca/?p=2569#comment-30425 Interesting article. People buy because they need place to live. That's something that can not be postponed. We needed to move, and what options do I have? Buy now, or rent for one more year, then buy? I'd rather potentially lose 30K than go through moving process again, lol. So we bought a place. Interesting article.

People buy because they need place to live. That’s something that can not be postponed.

We needed to move, and what options do I have? Buy now, or rent for one more year, then buy? I’d rather potentially lose 30K than go through moving process again, lol.

So we bought a place.

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