Thu Mar 13 03:47:56 PDT 2008
Gabe Menezes gabe.menezes at gmail.com wrote:
>
Yes USD interest rates touched 23 percent for one year money, during that
period.
>
Mario responds:
>
At first glance this looked like an excerpt from the article. Then I realized
it was the poster's own editorial comment - it was hard to tell when the switch
took place.
>
Though the article said that interest rates had gone over 20% I was unable to
find any evidence that the interest rate in the US had gone as high as 23% for
one year money. Maybe I did not look in the right place. I would appreciate
it if someone could cite some source to support this claim.
>
By the way, anyone familiar with economics would know that a relatively free
market economy like the US routinely experiences business cycles. They used to
be every three to four years, but, ever since the Federal Reserve has figured
out how to keep inflation low, the cycles have expanded to seven to eight
years, which is what the last two business cycles in the US have been. The
slowdowns have never lasted very long, even the last one in 2000 - 2001 which
was exacerbated by the economic effect of the 9/11 attack.
>
Gabe Menezes wrote:
>
In Toledo Ohio they are giving them away, for free, Check it out :-
http://www.realtor.com/search/searchresults.aspx?ctid=4180&ml=3&mxp=29&typ=7&sid=b64c3b8d81624f8eb141b574a94bf7f9&pg=1
>
Mario responds:
>
I was really excited when I saw this information since I live near Toledo and
thought I could add to my growing list of real-estate properties at no cost, so
I ran out to capture the market for $0 price houses. The realtor I called
thought I was nuts. I cited this thread and demanded they give me all those
houses, immediately.
>
Unfortunately, what I found was that the Realtor.com website shows homes
scheduled for auction as $0 because no specific asking price has been set.
Some of these single-family houses with large yards in nice neighborhoods have
minimum bid prices that sound like the ridiculous prices they pay for the
walk-up tenements in London. People familiar with how Realtor.com operates
knew this, whereas I did not. I need to be more careful what I believe in
future.
>
I should have known there's no such thing as a free lunch, ...er, home!
>
