fyi... i have 5 properties...

i'm mailing in the keys.

forget real estate!

by steve

Steve,

Don't get me wrong, please!

Don't mail your keys in. Hang on there to get even with a banker. Don't move out until the day eviction officers show up. If you do that, you save at least 9 month rent. That is about tens of thousand dollars. Even those money don't count as your income, but they are indeed your savings in a different perspective. Why move out to pay your rents?

As I mentioned in my earlier article, I had once stayed in a house located on the 8th Street, Arcadia, CA for about two years. When I got a divorce, lost my house and was forced into real estate as an agent. I can't afford an apartment rent and my listing seller let me move into the house to work out a short sale deal.

See I don't pay a dime to freely use the house for 2 years while I'd kept it up for paying the utilities only. In those 2 years, I save (or maybe earn) $20,000 at least. The best part of it is it is tax-free, like a tax credit. You pay nothing to IRS. So the gain is even bigger. Is it enough to use as your down payment for your next house purchase?

When you see those Wall street big fat cats collect hefty money, tens or hundreds of millions dollars as their retirement fund when they are forced out of their corporate door. You see all the average Joe on the main street suffered. Don't just say what kind of justice we have in the American society? Get even with the system! I mean to take advantage of the situation, but I strongly oppose your making damages to the house that doesn't do any good to you or our economy. Compliant is of no use, of course. Just evaluate the whole situation and be benefited from the worst. God treats everyone pretty fair if you know how to be cool and deal with it, sometimes.

Recently I read a news report that some guys have occupied a $2 million McMansion in Florida for more than 2 years. I am smiling at them. They are genius to enjoy the worry-free financial "freedom" as I did 10 years ago. Sure, they don't make any monthly payment to their bankers who are not willing to foreclose the properties as their Japanese counterpart did in the past 10 years. I wish I could be so lucky again.

God gives you a chance to save your money for a fresh start. Grasp the opportunity and please don't ignore it. If you don't have a rich dad, where you can get a better deal by staying in your houses without paying rent or payment every month?

Just pretend the God is your father as everyone says. You will be glad you do it.

Posted by Ed Tse on 04/08/2008 07:59 PM

Comments (9)

foreclosure

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9 Comments on A Funny World (25): God gives you a chance to stand up again

APR

2008

Lucrative Grim Repo Man is Product of Economic Recession
By Marissa Blaszko
Staff Writer

"No matter what Dias may be doing, what he is showing is that in this great country, it's not hard to make money off of struggling workers - after all, isn't that what banks and oil tycoons do for a living?"

Yes, no matter what happen to our economy, our American society is always great.

Trust me. For any kind of market, bear or bull, there is always a lucrative opportunity for those who can think "POSITIVELY" and find a way to deal with and be benefited from it.

Just don't give up! folks.

MAY

2008

Ed--

I think you missed the sarcasm in that statement; I shutter to think that what I wrote is actually being misinterpreted this badly. The entire point of the article was to state that capitalism is kicking workers out of their home now that we've reached a surplus of goods and their service is no longer needed--at the end, I make the point that 'we' (addressing the student body of CCSU) need to be thinking of the government's role in economy and how things aren't going to iron themselves out under capitalism.

Every bit of me believes what Dias is doing is exploiting the working class, and the sentence you quoted was written to prove that--whether one considers the situation 'good' or 'bad'--the bourgeoisie IS, in fact, making money off of struggling workers.

I don't have any idea how you managed to misinterpret that article so badly, never mind what inspired you to post it online...

-Marissa Blaszko, Contributing Writer

It upsets me to hear that the citizens of this country continue to turn a blind eye to the structural issues existing without our economy, our work force, our education system, and as a broader example, our society. Ed-- if you bothered to look up any statistics, you would see that the income gap is growing wider by the day, and that there are fewer and fewer options existing for economic prosperity. People like Dias gaining success from the plight of this real estate crisis is just another example of the 'proletariat,' the minorities and minimum-wage workers, being controlled by the upper-classes. Just like the state lottery system, what Dias is doing is just another ploy to take advantage of the poor.

Welcome back robber barons.

MAY

2008

To Marissa and Kate:

I don't have any idea how you managed to misinterpret that article so badly, never mind what inspired you to post it online...

Sorry, I don't have any clue how you managed to misinterpret my article so badly, never mind what inspired you to reply here 2 days ago.

I don't even know what article you are talking about and I quoted from you, let alone where I misinterpreted! (now I know you are probably a college student? I was there fully with poetic justice in my mind 35 years ago.)

Yes, I fully understand the rich get richer in our society. In just 13 years, Warren Buffet's wealth grows from $ 9 billion to $64 billion. That's 7 times of growth.

How many of my fellow citizen have a saving or checking balance in their bank account. Don't tell me that I don't know that. I have a friend who is a family doctor and was a city Mayor of 100,000+ population. He has to ask his bankers to "hold" his check for one more day "un-cashed" almost every week. How much is the payable amount of his check? You don't want to hear and you don't believe it. Those top 100 mutual fund managers earned at least $ 1 billion last year. The earning power of their minute is the full year of an average American citizen, period.

Last week, I read a report of the 3rd richest woman in the world. She is spending $2 billion to built a 27 story home with 400,000 sqft in India. I wish someone having so rich could spend that money to built affordable housing project for the poor in that country with 80% poor population. But ..... it is just my dream she is not going to have. Please refer to my article A Funny World (17): Your Tent City? Or My Tear City?

How can an average guy increase his net worth 7 times in the same period? Never mind it is $ 55 billion increase.

It is surely not going to happen to you, me or an average Joe. While the main street has been suffered, I saw those big Wall street big cats enjoyed a huge retirement fund, even more annual bonus. What can you and I do? Did B. B. turn his back to you and listen to those financial gurus for advice to cure the credit crunch, say, to "inflate" the housing price politically?

I am just a small potato. I don't want to be as a hero or rebel to complain, reform or challenge while facing the huge vested interest or outspoken politicians. Except to cheer my poor folks up enough to cope with the reality as "the fittest survivesl" as Darvin said, , what you expect me to do? Are you telling me that you can change the existing systems just by a piece of article of yours as I used to believe as a college boy? Comm'on, give me a break. A dream do come true, but a lot of them disapper "unrealized".

Tell you the truth, I felt that I could do something for my poor folks when I set up "APFE" group at AR. I wrote so many articles daily in the past. But lately I have felt "gutless," even don't bother to check the site for a week. Why? you tell me.

Everybody has his way of interpretation toward the world, based on his personal frame of reference, when he sees something. I do have a different perspective from your points, but I have no idea that I would make you felt "so badly"? My dear Marissa, tell me where I missed it as opposed to your original article, please!

*** Since you unlink your reply above, I have no way to check what you are talking about. But please do me a favor. It is not polite to come here, shout out and just leave. It is not a good way to communicate ideas.

MAY

2008

Foreclosure Is Good Stuff in a Market, Isn't It, Marissa?

MAY

2008

I didn't mean to unlink a reply? You can rebuttle me at senseofobligation.blogspot.com--just find the relevent post over in 'archives'. Fighting on the internet is sort of pointless, but if we can try to hold a semi-purposeful debate it might be worth it.

1. What inspired me to leave the comment is the fact that upon googling myself, I'm finding all sorts of weird stuff.

2. It wasn't an attack on you at all, and I appologize if it came off that way. I just don't appreciated being quoted in any pro-capitalism context, and felt the need to voice that opinion.

3. I think there's a difference between 'college kid dreams' and 'punk kid that's going to school for art & English so that she can devote her life to being a wrench in the system.' I know this article isn't going to change anything; I'm simply writing for that paper to vent my frustrations. But just because you're dead on the inside, doesn't mean that everyone that graduates from college rolls over and conforms. I know handfuls of adults that are still fighting for what they believed in in college.

4. I don't think foreclosure is 'evil', necessarily. I think what is 'evil' is the fact that becaus of over production, the workers that are generating the nation's wealth are being forced out of their homes. It's the machine--not the action--that I concider immoral.

5. . The second-to-last paragraph was structured so badly I can't quite tell what you're trying to ask of me. Syntax, darling--syntax.

And three points to Kate Meizner for a Marx reference.

MAY

2008

I agree with you that the evil is a human-made machine.

As previously revealed in my articles, I felt so frustrated at the money machine created by Wall Street.

Yes, I am pro-capitalism, if you define that term as Adams Smith . Too much influence, intervention, and manipulation are put on our bureaucracy from so-called "interest groups." They may be morally sound, and they may be in the industry. But they are not in the field to realize the reality is so different from pure ideology.

For your reference, from Macroeconomics'' viewpoint, everything will bounce back to us:

CENTER'S CHIEF ECONOMIST TELLS IT LIKE IT IS

TEMPLE (Temple Daily Telegram) - Widely known for his "tell-it-like-it-is" style, Dr. Mark Dotzour told 250 Temple and Bell County residents that they - and Texas in general - are faring better than the rest of the country economically, but that the situation can always change.

"People are still wealthy; this country is still strong; but people are taking a wait-and-see attitude," said the chief economist for the Real Estate Center at Texas A&M University. "So far, we've been pretty immune to what's going on at the national level. But we have got to be careful. We're isolated from the national problems, but we aren't immune to them."

Still, Dotzour liked what he saw in Bell County.

"The local real estate market here has completely avoided what's going on at the national level. I like the looks of what's going on here because building is off a little. That's good because we need fewer new homes built across the nation," Dotzour said. "Bell County is responding correctly, in my opinion, to this situation by reducing the supply of new homes. That's healthy for the local market."

Dotzour's straightforward approach was especially evident as he addressed the Trans-Texas Corridor and ethanol, two highly charged issues in Bell County.

Regarding ethanol subsidies by the federal government, Dotzour said with a food crisis in 33 countries, using corn for ethanol doesn't make sense ethically. He also said making corn ethanol is "absolutely wrecking our economy."

"You put a third of our corn crop in the gas tank, and what happens? Corn goes up. Wheat goes up. Rice goes up. Oil goes up. The value of the dollar goes to nothing, and gasoline's $3.50," he said.

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