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Tuesday, January 4, 2011

Houses Now Cheaper Than Apple Stock

I see Apple stock is trading at a paltry 330 bucks a share. Gosh if only I had a spare 33,000 dollars- I could buy 100 shares. What a deal.

Am looking at some homes in the Vegas/Bullhead City area that are pretty damn nice. They are running anywhere from about 300 to 500 shares worth of Apple stock. Some have pools.

What a conundrum. What should I do? Should I buy Apple stock and hope that they invent some more Ishit? Or should I buy a house? It's nice that a few companies are making big bucks, unfortunately, Steve Jobs and the board at Apple aren't particularly generous. They kind of have a horde cash and screw investors mentality- thankfully every hedge fund and bank in the free world are gobbling up Apple shares.

I won't be one of the suckers buying in at 330. Perhaps if Brian Sack at the NY FED gave me some of that thin air POMO money, 8 billion yesterday, I could get in too. Until then, I am probably going to stick with the house buying theme. Maybe instead of a promise of riches, I'll settle for an early morning swim.


Anonymous said...

They say swimming is a good exercise but you might want to put off buying the house for like six months or so. Our friends at Goldman Sachs are say there will be about 12 million foreclosures in 2011. Home prices are likely to take another dive. It just keeps getting better and better, doesn't it?

rawmuse said...

If I were to do it over right now, I'd rent for a while.

Brian said...

I totally agree with you both. I read dr. housing bubble in california religiously and he echoes everything i've read and what you guys have said. My landlord gouging the hell out of me and I don't want to have to move two times.

Jim I had heard 7 mill foreclosure not 12m. Do you have a link to that fig?

Anonymous said...

Brian, I was sure that I saved that source but I'll be damned if I can find it. I remember the writer saying that some government agency estimated 10M but hat Goldman Sachs estimated 12M. Sorry. Chalk it up to old age.