With a foreword written by G *#x0027;t Hooft In the 1960s, Leipzig was the center of resistance in East Germany. Harald Fritzsch, then a physics student, contemplated escape. But before he left, he wanted to demonstrate to the government that they had gone too far when they destroyed St. Paul's Church in May 1968. He accomplished that by unrolling a protest transparency in spectacular fashion. Recent Posts • November 27, 2017 • November 26, 2017 • November 25, 2017 • November 25, 2017 • November 21, 2017 • November 21, 2017 • November 21, 2017 • November 21, 2017 • November 21, 2017 • November 21, 2017 • November 21, 2017 • November 21, 2017 • November 21, 2017 • November 21, 2017 • November 21, 2017 • November 21, 2017 • November 21, 2017 • November 21, 2017 • November 21, 2017 • November 21, 2017 • November 21, 2017 • November 21, 2017 • November 21, 2017 • November 21, 2017 • November 21, 2017. Fnaf 1 cheat mode download pc. Despite the great efforts of the secret police, the STASI, the government was unable to find out who was responsible for this act. Soon after, together with a friend, Fritzsch began his journey to Bulgaria in order to escape into Turkey by traversing the Black Sea in a folding canoe. This was a daredevil endeavor, never done before.In this book, Harald Fritzsch - now a world-renowned physicist - portrays in captivating detail an authentic picture of the East German regime and the events of the late 1960s. Today, 40 years later, he critically takes stock of the events since German reunification. I just stumbled across a recent posting on the Greater Fool Blog. I'm no great fan of Garth, he was calling for a collapse in home prices well before the present bubble even started. Anybody reading his book in 1998 could have missed the biggest price run-up in our real estate history. For many years I disagreed strongly with his bearish opinions on real estate, but because I've lived through bubbles before, I sense the situation has now changed so much that a lot of Garth's comments are ringing true. Even a stopped clock is eventually right. It seems to me that this bull run is now well past its 'best before' date, as witnessed by the fact that despite the recent uptick, Vancouver's MLS benchmark prices for SFHs, THs/condos, are still 8% below their respective all-time highs in 2012 and 2011. Condos, which experts say should outperform SFHs in a falling market, are languishing at their 2007 benchmark prices. EBOOK ONLINE The Leipzig Connection (Basics in Education) FULL VERSIONGET LINK http. Leipzig Connection PdfFor the last couple of years it's only a few areas with homes at or below the new CMHC Insurance limit that haven't seen a drop in prices, and that fact makes the current scenario even more precarious. I wouldn't totally dismiss the possibility that prices could go back up to their old record highs again, or even higher. My point is that we have moved into a period of very high risk. Garth's comments below help to explain why so many recent purchasers of Vancouver real estate are too terrified to even consider the possibility of Vancouver having another of its historically routine price crashes and why they so vigorously defend their bullish views. ![]() The Leipzig Connection WikipediaFor those who are struggling to pay massive mortgages, the consequences of any serious interest rate hike would be financially devastating and are therefor unthinkable. It's called 'denial'. In urban Toronto the average deal is around $800,000. Of those spending more than a million, Josh figures the average mortgage is about 80% – taking into consideration CMHC insurance is no longer available for seven-figure deals. “Used to be that a million-dollar mortgage was a big deal,” he adds. “Now I see them all the time.” Mortgage rates today may be 3% instead of the 14% they were in 1993, but the amount of debt has ballooned so dramatically that monthly payments eat up far more of disposable income. As a result, people in this age group are more dependent on real estate than any in the past. Almost 100% of the increase in net worth for Josh’s cohort has come from housing appreciation, since they’re saving and investing virtually nothing outside of their walls. While real estate augments, they win. When it declines, they’re screwed. For the entire post and reader's comments, go here. It’s Vancouver’s greatest economic export: telling everyone outside of Vancouver how great it is to live here. It’s even on our license plate (“the greatest place on earth”). No – we’re not arrogant, we just live in a delusional rainy day reality. The Economics The definition of a real estate bubble is when the price of an asset rises above what local incomes can afford. It’s that simple. If the locals can’t afford it – then an asset is over priced. How do we gauge if something is too expensive? Easy – we have historical real estate valuations that are based on the incomes of local residents. The historical national average over a very long period of time is approximately three times income to one. What does this mean in English and not finance talk? It means that if you and your partner make a combined income of $100,000 per year, then the house you should be buying is about $300,000. This isn’t an exact science – but that sounds about right for affordability doesn’t it? This way you can pay your mortgage, save for your kids college, perhaps take a vacation every year or two, and save for a rainy day.
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