How did hocus plan to use appreciation of house?

Rob's vision of "honest and informed debate" doesn't include answering simple and straightforward questions put to him. The unanswered questions cataloged here are an important part of Rob Bennett's Passion Saving, Hocomania.

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How did hocus plan to use appreciation of house?

Postby gw » 08/09/08 at 17:37:02

Copied from http://www.s152957355.onlinehome.us/cgi-bin/yabb2/YaBB.pl?num=1218067510/7#7

Question:
Hocus:

I ask this politely, in the hopes of getting a serious reply.

In the past, you said that - if needed - you spent a fraction of your estimate of the appreciated value of your house. ? How did you think this was going to work? ?That is, how did you expect to recover the funds from your house and add them to your cash reserves or liquid investments? ?The only possibility I can see is that you planned to sell your house and move to less expensive housing. ?Did you consider the possibility that housing prices might drop substantially, and what were your plans in this event?


Hokum's reply:
I will continue to report the SWR number accurately, GW.

Rob
Bennett's May '02 post: "I am deeply sorry for falsely criticizing the study"
http://boards.fool.com/the-differences-between-how-dory36s-online-17225279.aspx
Read about Rob; google "Narcisstic Personality Disorder".
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Re: How did hocus plan to use appreciation of hous

Postby ataloss » 10/14/08 at 19:28:04

I think that the idea was that due to increase in house value he could spend more of the overall portfolio (house plus financial assets). Declining prices seem not to have been considered
Rob, please get help: Loudoun County Mental Health 703-771-5100  I am not a mental health professional. I am not qualified to diagnose or treat. Get help. What do you have to lose? Your current course is catastrophically unproductive.
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Re: How did hocus plan to use appreciation of hous

Postby DRiP_Guy » 10/14/08 at 21:12:33

But how?

He used the term "Taking money out of the house..." and the only conventional way I can see most people using that phrase is to mean that they took out a HELOC to grab some 'equity'. The obvious danger, of course, is that you are paying interest, and hoping that the market value of the home increases sufficiently to make up the cost in borrowing on it.

In Hocus' case, this clearly would have been a tragic decision, as home prices plummeted far below previous market values, especially if that money went to nutty self-promotion activities like paying someone to program a fourth Hocobobulator, or do website work for a site no one visits, etc.   :o
Robert Michael "Hocus" Bennett, October 22, 2010: "I have been living off my savings for 10 years"
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Re: How did hocus plan to use appreciation of hous

Postby Orion. » 10/15/08 at 10:30:28

I think Rob was always planning on the death of his parents and inheriting their house. He said his inheritance was discussed before he retired. I think he moved into that little place to be near them so their funds in their final years weren't spent on professional caretakers.

I think this is why Rob doesn't want to talk about his finances. If you just talk about his own finances, then indeed, his retirement is crazy. If you factor in his parents, then it's probably financially OK but ghoulish, lazy, and not something that others can replicate. (ie can't pick your parents so Rob doesn't know how to write a book about this that would sell.) He needs to wait for some big market downturn. Then he can datamine a portfolio that did well while most of the market tanked and claim that was his plan all along.

BTW with the inheritance, I'm guessing he doesn't need the money from the book. I think he just wants the self aggrandizement.
Seriously, hocus, I don't know if you're really insane or you just believe that acting that way is a good way to get attention.

My closest friends say that it appears to them that's a little bit of both.. -- hocus 2007.
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Re: How did hocus plan to use appreciation of hous

Postby DRiP_Guy » 10/15/08 at 19:35:12

Orion, I think you have just posted the most accurate assessment of Rob's financial plan and situation that has ever been written.

That is why it is of course located in a section called: "Simple Questions Rob Bennett Doesn't Answer."

He doesn't want the truth out there. I think that says all anyone need know about Rob Bennett.
Robert Michael "Hocus" Bennett, October 22, 2010: "I have been living off my savings for 10 years"
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