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Massive housing crisis in Asia?


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smokey

Cash rules and if you have it in hand, you can benefit from the downturns, but most people don't have the resources or foresight to hold on to the kind of money it takes to do what you do.

That is the reason most people suffer, rather than profit from a downturn.

As a matter of fact, there wouldn't be a downturn if everyone had a way to survive, or like you, to thrive in spite of the economy.

Your way works for you, mine works for me and there are other methods, but no one method works for everyone.

You have to be a survivor and have a plan in force if you want to get ahead in this world and for that I applaud you.

i bought it with 0 down va loan at 4 .5%  closing cost were about 3,000 dollars..

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Brucewayne

i bought it with 0 down va loan at 4 .5%  closing cost were about 3,000 dollars..

 

VA loans are probably different from HUD loans in that with a HUD loan, one must live in the house for at least 2 years after the purchase as I recall.

I used a VA loan once to buy a house in Texas, how many times can one finance through them, or is there even a limit?

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smokey

VA loans are probably different from HUD loans in that with a HUD loan, one must live in the house for at least 2 years after the purchase as I recall.

I used a VA loan once to buy a house in Texas, how many times can one finance through them, or is there even a limit?

well this is my 3rd one... as long as they are paid off over and over

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Brucewayne

well this is my 3rd one... as long as they are paid off over and over

 

Too bad they won't finance in Asia, it would be nice to have financing when the right deal comes along.

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Headshot

@Headshot

 

Without going into all the American 'politics' that occurred over the years but I would have to say that the successive American Federal Government Administration's changes to the laws which was picked up by the Federal Reserve, Fannie Mae, Freddy Mack, et al (I actually laughed when I first saw the names of the financial institutions being called Fannie Mae and Fredy Mack, back in 2007 or there about) led to the inflation of the bubble.

 

And I am not just 'picking on' the USA here. Every country in the Western World, or its ties like the Philippines, tried to 'inflate' their electorates into greater well being by one means or another.

 

I agree...and I know the politics behind the bubble in the US. However, I was just explaining what happened AFTER the bubble burst...not what led up to it. There are many ways to create a bubble, but the results are pretty much always the same...economic disaster for a lot of ordinary people.

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There are many ways to create a bubble, but the results are pretty much always the same...economic disaster for a lot of ordinary people.

@Headshot

 

Ain't that the truth!

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