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donaldduckmoore.
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October 4, 2008 at 11:20 AM #281205October 4, 2008 at 11:23 AM #280879
meadandale
Participanthttp://www.bloomberg.com/apps/news?pid=20601103&sid=aVVOrzOIBedo&refer=news
How many hundreds of millions of dollars of this bailout are going to be funneled to administration cronies and Paulsen’s buddies on Wall St.?
What a freaking sham!!!!!
VOTE THE CROOKS OUT!!!!
If any of you vote for a single person in the next election who voted for this craptastic bailout bill you are part of the problem.
October 4, 2008 at 11:23 AM #281154Participanthttp://www.bloomberg.com/apps/news?pid=20601103&sid=aVVOrzOIBedo&refer=news
How many hundreds of millions of dollars of this bailout are going to be funneled to administration cronies and Paulsen’s buddies on Wall St.?
What a freaking sham!!!!!
VOTE THE CROOKS OUT!!!!
If any of you vote for a single person in the next election who voted for this craptastic bailout bill you are part of the problem.
October 4, 2008 at 11:23 AM #281157Participanthttp://www.bloomberg.com/apps/news?pid=20601103&sid=aVVOrzOIBedo&refer=news
How many hundreds of millions of dollars of this bailout are going to be funneled to administration cronies and Paulsen’s buddies on Wall St.?
What a freaking sham!!!!!
VOTE THE CROOKS OUT!!!!
If any of you vote for a single person in the next election who voted for this craptastic bailout bill you are part of the problem.
October 4, 2008 at 11:23 AM #281200Participanthttp://www.bloomberg.com/apps/news?pid=20601103&sid=aVVOrzOIBedo&refer=news
How many hundreds of millions of dollars of this bailout are going to be funneled to administration cronies and Paulsen’s buddies on Wall St.?
What a freaking sham!!!!!
VOTE THE CROOKS OUT!!!!
If any of you vote for a single person in the next election who voted for this craptastic bailout bill you are part of the problem.
October 4, 2008 at 11:23 AM #281211Participanthttp://www.bloomberg.com/apps/news?pid=20601103&sid=aVVOrzOIBedo&refer=news
How many hundreds of millions of dollars of this bailout are going to be funneled to administration cronies and Paulsen’s buddies on Wall St.?
What a freaking sham!!!!!
VOTE THE CROOKS OUT!!!!
If any of you vote for a single person in the next election who voted for this craptastic bailout bill you are part of the problem.
October 4, 2008 at 11:37 AM #280893LA_Renter
ParticipantIf you were to ask me the future of home prices will not be determined on the extent of the bailouts as much as the employment picture. For the past few years I have been on the fence of what the real economy ramifications of this housing/credit bubble were going to be, leaning towards a garden variety recession. That may have been a little naive. The recent data on the economy as far as job loss, auto sales, ISM index etc shows a profound decline hitting right now. Goldman Sachs has revised their projections for a much deeper recession (this will be revised again) and on a smaller note I am seeing this decline first hand in my own business.
Up to this point the underlying economy in S. California has actually been somewhat resilient all things being considered. I don’t see that continuing. I liken this to residents along the Gulf coast preparing for hurricanes. The last couple of recessions we have had have been maybe a weaker Cat 3 in the early 90’s at least in CA and a strong Cat 1 in 2001. The financial crisis we are in the midst of is like a Cat 5 (Camille) with 200 mph sustained winds and a 25 ft storm surge that is just now approaching land. Ask people who have experienced a Cat 5 hurricane how much different of an experience that is from a week Cat 3. The next 12 to 24 months are simply going to be horrible and the total tally of the bailouts could possibly reach $2 Trillion. I really hope that I am being extreme here but the data is coming in and it does not look good. So again the employment picture will be a strong variable on where home prices bottom.
October 4, 2008 at 11:37 AM #281169ParticipantIf you were to ask me the future of home prices will not be determined on the extent of the bailouts as much as the employment picture. For the past few years I have been on the fence of what the real economy ramifications of this housing/credit bubble were going to be, leaning towards a garden variety recession. That may have been a little naive. The recent data on the economy as far as job loss, auto sales, ISM index etc shows a profound decline hitting right now. Goldman Sachs has revised their projections for a much deeper recession (this will be revised again) and on a smaller note I am seeing this decline first hand in my own business.
Up to this point the underlying economy in S. California has actually been somewhat resilient all things being considered. I don’t see that continuing. I liken this to residents along the Gulf coast preparing for hurricanes. The last couple of recessions we have had have been maybe a weaker Cat 3 in the early 90’s at least in CA and a strong Cat 1 in 2001. The financial crisis we are in the midst of is like a Cat 5 (Camille) with 200 mph sustained winds and a 25 ft storm surge that is just now approaching land. Ask people who have experienced a Cat 5 hurricane how much different of an experience that is from a week Cat 3. The next 12 to 24 months are simply going to be horrible and the total tally of the bailouts could possibly reach $2 Trillion. I really hope that I am being extreme here but the data is coming in and it does not look good. So again the employment picture will be a strong variable on where home prices bottom.
October 4, 2008 at 11:37 AM #281172ParticipantIf you were to ask me the future of home prices will not be determined on the extent of the bailouts as much as the employment picture. For the past few years I have been on the fence of what the real economy ramifications of this housing/credit bubble were going to be, leaning towards a garden variety recession. That may have been a little naive. The recent data on the economy as far as job loss, auto sales, ISM index etc shows a profound decline hitting right now. Goldman Sachs has revised their projections for a much deeper recession (this will be revised again) and on a smaller note I am seeing this decline first hand in my own business.
Up to this point the underlying economy in S. California has actually been somewhat resilient all things being considered. I don’t see that continuing. I liken this to residents along the Gulf coast preparing for hurricanes. The last couple of recessions we have had have been maybe a weaker Cat 3 in the early 90’s at least in CA and a strong Cat 1 in 2001. The financial crisis we are in the midst of is like a Cat 5 (Camille) with 200 mph sustained winds and a 25 ft storm surge that is just now approaching land. Ask people who have experienced a Cat 5 hurricane how much different of an experience that is from a week Cat 3. The next 12 to 24 months are simply going to be horrible and the total tally of the bailouts could possibly reach $2 Trillion. I really hope that I am being extreme here but the data is coming in and it does not look good. So again the employment picture will be a strong variable on where home prices bottom.
October 4, 2008 at 11:37 AM #281216ParticipantIf you were to ask me the future of home prices will not be determined on the extent of the bailouts as much as the employment picture. For the past few years I have been on the fence of what the real economy ramifications of this housing/credit bubble were going to be, leaning towards a garden variety recession. That may have been a little naive. The recent data on the economy as far as job loss, auto sales, ISM index etc shows a profound decline hitting right now. Goldman Sachs has revised their projections for a much deeper recession (this will be revised again) and on a smaller note I am seeing this decline first hand in my own business.
Up to this point the underlying economy in S. California has actually been somewhat resilient all things being considered. I don’t see that continuing. I liken this to residents along the Gulf coast preparing for hurricanes. The last couple of recessions we have had have been maybe a weaker Cat 3 in the early 90’s at least in CA and a strong Cat 1 in 2001. The financial crisis we are in the midst of is like a Cat 5 (Camille) with 200 mph sustained winds and a 25 ft storm surge that is just now approaching land. Ask people who have experienced a Cat 5 hurricane how much different of an experience that is from a week Cat 3. The next 12 to 24 months are simply going to be horrible and the total tally of the bailouts could possibly reach $2 Trillion. I really hope that I am being extreme here but the data is coming in and it does not look good. So again the employment picture will be a strong variable on where home prices bottom.
October 4, 2008 at 11:37 AM #281225ParticipantIf you were to ask me the future of home prices will not be determined on the extent of the bailouts as much as the employment picture. For the past few years I have been on the fence of what the real economy ramifications of this housing/credit bubble were going to be, leaning towards a garden variety recession. That may have been a little naive. The recent data on the economy as far as job loss, auto sales, ISM index etc shows a profound decline hitting right now. Goldman Sachs has revised their projections for a much deeper recession (this will be revised again) and on a smaller note I am seeing this decline first hand in my own business.
Up to this point the underlying economy in S. California has actually been somewhat resilient all things being considered. I don’t see that continuing. I liken this to residents along the Gulf coast preparing for hurricanes. The last couple of recessions we have had have been maybe a weaker Cat 3 in the early 90’s at least in CA and a strong Cat 1 in 2001. The financial crisis we are in the midst of is like a Cat 5 (Camille) with 200 mph sustained winds and a 25 ft storm surge that is just now approaching land. Ask people who have experienced a Cat 5 hurricane how much different of an experience that is from a week Cat 3. The next 12 to 24 months are simply going to be horrible and the total tally of the bailouts could possibly reach $2 Trillion. I really hope that I am being extreme here but the data is coming in and it does not look good. So again the employment picture will be a strong variable on where home prices bottom.
October 4, 2008 at 11:48 AM #280903Huckleberry
ParticipantLA Renter beat me to the post, but here is what I had to say anyway…
Oh, and don’t forget the HUGE factor of unemployment. It is rising at it’s fastest pace in 10 years. This variable alone will take a significant percentage of potential “sideline” or future buyers out of the market.
I just don’t see any way they can stop the home price decline freight train! It’s going to keep rolling until prices reach their intrinsic value, which IMO will be somewhere in the late 90’s price ranges, back where incomes could actually support prices.
October 4, 2008 at 11:48 AM #281179ParticipantLA Renter beat me to the post, but here is what I had to say anyway…
Oh, and don’t forget the HUGE factor of unemployment. It is rising at it’s fastest pace in 10 years. This variable alone will take a significant percentage of potential “sideline” or future buyers out of the market.
I just don’t see any way they can stop the home price decline freight train! It’s going to keep rolling until prices reach their intrinsic value, which IMO will be somewhere in the late 90’s price ranges, back where incomes could actually support prices.
October 4, 2008 at 11:48 AM #281182ParticipantLA Renter beat me to the post, but here is what I had to say anyway…
Oh, and don’t forget the HUGE factor of unemployment. It is rising at it’s fastest pace in 10 years. This variable alone will take a significant percentage of potential “sideline” or future buyers out of the market.
I just don’t see any way they can stop the home price decline freight train! It’s going to keep rolling until prices reach their intrinsic value, which IMO will be somewhere in the late 90’s price ranges, back where incomes could actually support prices.
October 4, 2008 at 11:48 AM #281226ParticipantLA Renter beat me to the post, but here is what I had to say anyway…
Oh, and don’t forget the HUGE factor of unemployment. It is rising at it’s fastest pace in 10 years. This variable alone will take a significant percentage of potential “sideline” or future buyers out of the market.
I just don’t see any way they can stop the home price decline freight train! It’s going to keep rolling until prices reach their intrinsic value, which IMO will be somewhere in the late 90’s price ranges, back where incomes could actually support prices.
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