Overnight peoples (aka. Who's up?)

t-homo · 11-17-2008, 04:22 AM

Quote:

Originally Posted by Adeptus_Minor

I do not miss those days one bit.
Granted, finishing school will hopefully get you a little better earning potential... but getting there sucks sometimes.

In one respect it is kinda nice being a student. Not a ton of responsibilities at this point. But at the same time it sucks. Most times I think I would rather work 60 hours a week than go to school 15 hours but spend a shit ton more outside of class studying. That and its easy somedays, then very stressful on others like test days, when essays are due, etc.

I can't wait to graduate and start makin some bank though. I am a finance major and plan on going into real estate or banking at first, then get into strictly investing in the stock market and property. Only 4-5 more years till I have my MBA hopefully.

Adeptus_Minor · 11-17-2008, 04:28 AM

Quote:

Originally Posted by t-rock

I can't wait to graduate and start makin some bank though. I am a finance major and plan on going into real estate or banking at first, then get into strictly investing in the stock market and property. Only 4-5 more years till I have my MBA hopefully.

Maybe in 4 or 5 more years we'll have an economy to invest in.

t-homo · 11-17-2008, 04:31 AM

From studying previous trends, normally this would be about the middle of the recession, meaning that more people would start investing and that prices would start to rise. However, this is the worst downfall in recent history, so it could take up to another year or so before people get the courage to reenter the market, which will start bringing prices back up. Honestly, if you have extra money out of the market at this point, it would be a great time to start investing in real-estate while it is at an all-time low, before it starts going back north. This is a compilation of my thoughts and reading the Wall Street Journal. For one of my classes, we have to subscribe to it.

Adeptus_Minor · 11-17-2008, 04:47 AM

Personally I wish I had the resources to invest in devalued stocks and real estate right now.

t-homo · 11-17-2008, 04:52 AM

The market is a very self fulfilling prophesy it seems to me. If people are confident in it, then it will thrive, but if people get scared and start pulling out, it will crash. All we need now is for the country to start re-investing, businesses will stop going under (GM is really fuckin close to losing it.), and the market will go back up. Same with the housing market, but there is way too much supply for the amount of demand, lowering the prices until qualified buyers start buying again, increasing demand and prices.

Adeptus_Minor · 11-17-2008, 05:16 AM

Wouldn't it be nice if we could just tell people to quit pulling their money out at the slightest sign of a downturn?
I mean, I've always wondered why there even HAS to be a downswing.
Sure.. free market and all that... but if so much of our prosperity as a nation rides on those seemingly arbitrary numbers on the stock ticker, why isn't there a little more control to keep it from getting into a downward spiral?

Yes... I'm 34 years old and asking a 19 year old about the economy...

t-homo · 11-17-2008, 05:28 AM

The downturn in the stock market was caused by the huge numbers of housing foreclosures. These were caused because the term "newly-approved" came about. It actually means not-approved, but the banks were willing to go out on a limb and offer mortgages to these people. They figured the foreclosure rate would go up maybe a little bit, but didn't expect it to go from 1% to 6%. With so many people defaulting, they had to pull what money they had in the market out to try to pay off their mortgages that were doomed from the day they originated. These peoples money started causing prices to drop, scaring more people and making them pull money. Also, the banks that had given all of the loans that were now defaulting were losing tons and tons of money causing their stocks to drop in price and eventually file for bankruptcy or hope for a bailout. At least that is my take on the whole thing. My major is tied very closely to the economy so its been a great learning period for me. I'm glad I am in school when it happened rather than happening a year after I graduate.

tommymac · 11-17-2008, 05:58 AM

Quote:

Originally Posted by Adeptus_Minor

Personally I wish I had the resources to invest in devalued stocks and real estate right now.

I thought about doing stuff like that. My investments are taking a beating now, bu tthough tabout investing more since I will be buying in at a cheaper price.

Were currently saving for a house and hope to pull the trigger soon, the nice thing is prices are comming down so we should get a better deal, now we just need to lock in a good intrest rate.

Tom

t-homo · 11-17-2008, 06:06 AM

Quote:

Originally Posted by tommymac

I thought about doing stuff like that. My investments are taking a beating now, bu tthough tabout investing more since I will be buying in at a cheaper price.

Were currently saving for a house and hope to pull the trigger soon, the nice thing is prices are comming down so we should get a better deal, now we just need to lock in a good intrest rate.

Tom

You will probably get a better price for the house itself, but interest rates will be higher as banks will be making sure not to have many defaults. How long are you planning on staying in the same house? If you are planning on being there for a long time, you will probably be better off buying down the interest rate by paying an extra point or point and a half up front, but it depends on your time frame. Stay with a fixed rate mortgage if it will be long term.

11-17-2008, 04:47 AM	#4
Adeptus_Minor Hopster Join Date: Nov 2008 Location: Austin, TX Moto: 2009 Buell 1125R Posts: 4,743	Personally I wish I had the resources to invest in devalued stocks and real estate right now. __________________ “Well, obviously before; after was all gendarmes and dick stitches.”

11-17-2008, 05:16 AM	#6
Adeptus_Minor Hopster Join Date: Nov 2008 Location: Austin, TX Moto: 2009 Buell 1125R Posts: 4,743	Wouldn't it be nice if we could just tell people to quit pulling their money out at the slightest sign of a downturn? I mean, I've always wondered why there even HAS to be a downswing. Sure.. free market and all that... but if so much of our prosperity as a nation rides on those seemingly arbitrary numbers on the stock ticker, why isn't there a little more control to keep it from getting into a downward spiral? Yes... I'm 34 years old and asking a 19 year old about the economy... __________________ “Well, obviously before; after was all gendarmes and dick stitches.”

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11-17-2008, 04:31 AM	#3
t-homo WSB Champion Join Date: Feb 2008 Location: Springfield, MO Posts: 7,146	From studying previous trends, normally this would be about the middle of the recession, meaning that more people would start investing and that prices would start to rise. However, this is the worst downfall in recent history, so it could take up to another year or so before people get the courage to reenter the market, which will start bringing prices back up. Honestly, if you have extra money out of the market at this point, it would be a great time to start investing in real-estate while it is at an all-time low, before it starts going back north. This is a compilation of my thoughts and reading the Wall Street Journal. For one of my classes, we have to subscribe to it.

11-17-2008, 04:52 AM	#5
t-homo WSB Champion Join Date: Feb 2008 Location: Springfield, MO Posts: 7,146	The market is a very self fulfilling prophesy it seems to me. If people are confident in it, then it will thrive, but if people get scared and start pulling out, it will crash. All we need now is for the country to start re-investing, businesses will stop going under (GM is really fuckin close to losing it.), and the market will go back up. Same with the housing market, but there is way too much supply for the amount of demand, lowering the prices until qualified buyers start buying again, increasing demand and prices.

11-17-2008, 05:28 AM	#7
t-homo WSB Champion Join Date: Feb 2008 Location: Springfield, MO Posts: 7,146	The downturn in the stock market was caused by the huge numbers of housing foreclosures. These were caused because the term "newly-approved" came about. It actually means not-approved, but the banks were willing to go out on a limb and offer mortgages to these people. They figured the foreclosure rate would go up maybe a little bit, but didn't expect it to go from 1% to 6%. With so many people defaulting, they had to pull what money they had in the market out to try to pay off their mortgages that were doomed from the day they originated. These peoples money started causing prices to drop, scaring more people and making them pull money. Also, the banks that had given all of the loans that were now defaulting were losing tons and tons of money causing their stocks to drop in price and eventually file for bankruptcy or hope for a bailout. At least that is my take on the whole thing. My major is tied very closely to the economy so its been a great learning period for me. I'm glad I am in school when it happened rather than happening a year after I graduate.