Immigrants who arrived in this country poor and unable to speak a word of english.Who became wealthy in this country after a few years could teach the rest of us how to do the same.For instance one family I read about lived in the back of their store for three years so they could pay off their business first,then rent a place to live.Only after the business they had bought was totally paid for did they even think about spending money on a place to live.Another example I read about was where one family saved 90% of their money(not just 10%) to achieve their goals.triffid

Buy gold and silver coins and hide them to protect yourself against hyperinflation.Whatever you buy can be stolen from you.Legally or illegally.I usually breakfast with an ex-bank robber.He did 27 years for his crimes so he is not wanted anymore.It is interesting to hear his viewpoint on things.triffid

Once again ,not me but wish I had said it:
I purchased my first home in 2007 at the age of 25. I made great money and could easily afford my house. I was raised to believe that renting was a waste of money and that homeownership was the responsible thing to do. I saw myself as a responsible person and thought I'd done the same due diligence (the economist, personal finance research,etc.) as the commentor. I'd even come to the same conclusion; housing prices are way too high and will fall.
My first mistake was, I didnt trust myself but rather trusted my elders. They hadnt steered me wrong before. With their guidance, I became the first in man in my family to graduate from college, with an Electrical Engineering degree no less. By 22, I was making more than than my parents combined and made far more that the median household income. I thought, may be I was wrong. Everyone says that housing is a great "investment". I was the definition of naive (some may say stupid). Unfortunately we all werent blessed with a financially savvy family, people like myself have learn from our own mistakes.
My second mistake was that I grossly underestimated the magnitude of the collapse and the fallout from said collapse. I knew housing prices may stagnate or fall 5 or 10 percent but they would come back after a while. (I lost nearly 100k in equity and prices stayed down). I could rent it out in the mean time. (renting, even with a manager is HUGE headache and financial liability for most people. Its a tremendous drain on resources and time which otherwise could be put to more efficient uses) A national collapse in housing was unprecedented since the great depression (lol). Clearly I and millions of others were wrong but to piss on our financial grave is heartless and cruel. I've spent many sleepless nights beating myself up already.
I would like to encourage those like myself who werent as wise as the commentor. Your life is not over, making a bad choice doesnt mean you are stupid. Stay persistant dont allow this circumstance to destroy your aspirations. Ignore the self-righteous among us, learn from your mistake but dont beat yourself up. Stay focused and you WILL get through this.
I've taken my own advice and now I'm starting my second year of grad school at Harvard after which I will return to job making over 100k a year. Without ever missing a payment on the worst decision I've ever made in my life.

Don't beat yourself up over it!Move on!Get Ahead!triffid

http://larouchepac.com/home?n=23750&l=28  Once again Larouch is calling for the removal of Obama.triffid