Home › Forums › Housing › Fed empties the Armory, expends all ammo, housing has bottomed. SD RE will cost more in August of 09 than it does now.
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December 16, 2008 at 4:37 PM #316848December 16, 2008 at 5:07 PM #316371RenParticipant
[quote=schizo2buyORnot]The bottom is here or near. A single family home in a decent neighborhood will in San Diego will cost more in August of 09 than it does now.[/quote]
The ONLY thing that would stop prices from dropping is if we were to go back to loose lending standards, and that isn’t going to happen, so keep dreaming. The prices you’re seeing now are still artificially high, the downward pressure is enormous, and absolutely nothing (not low rates, not government bailouts) will stop them from going back to where they should be.
So why am I feeding the troll? I’ll just bump this thread in August.
December 16, 2008 at 5:07 PM #316722RenParticipant[quote=schizo2buyORnot]The bottom is here or near. A single family home in a decent neighborhood will in San Diego will cost more in August of 09 than it does now.[/quote]
The ONLY thing that would stop prices from dropping is if we were to go back to loose lending standards, and that isn’t going to happen, so keep dreaming. The prices you’re seeing now are still artificially high, the downward pressure is enormous, and absolutely nothing (not low rates, not government bailouts) will stop them from going back to where they should be.
So why am I feeding the troll? I’ll just bump this thread in August.
December 16, 2008 at 5:07 PM #316763RenParticipant[quote=schizo2buyORnot]The bottom is here or near. A single family home in a decent neighborhood will in San Diego will cost more in August of 09 than it does now.[/quote]
The ONLY thing that would stop prices from dropping is if we were to go back to loose lending standards, and that isn’t going to happen, so keep dreaming. The prices you’re seeing now are still artificially high, the downward pressure is enormous, and absolutely nothing (not low rates, not government bailouts) will stop them from going back to where they should be.
So why am I feeding the troll? I’ll just bump this thread in August.
December 16, 2008 at 5:07 PM #316784RenParticipant[quote=schizo2buyORnot]The bottom is here or near. A single family home in a decent neighborhood will in San Diego will cost more in August of 09 than it does now.[/quote]
The ONLY thing that would stop prices from dropping is if we were to go back to loose lending standards, and that isn’t going to happen, so keep dreaming. The prices you’re seeing now are still artificially high, the downward pressure is enormous, and absolutely nothing (not low rates, not government bailouts) will stop them from going back to where they should be.
So why am I feeding the troll? I’ll just bump this thread in August.
December 16, 2008 at 5:07 PM #316858RenParticipant[quote=schizo2buyORnot]The bottom is here or near. A single family home in a decent neighborhood will in San Diego will cost more in August of 09 than it does now.[/quote]
The ONLY thing that would stop prices from dropping is if we were to go back to loose lending standards, and that isn’t going to happen, so keep dreaming. The prices you’re seeing now are still artificially high, the downward pressure is enormous, and absolutely nothing (not low rates, not government bailouts) will stop them from going back to where they should be.
So why am I feeding the troll? I’ll just bump this thread in August.
December 16, 2008 at 5:07 PM #316366stockstradrParticipantTreasury Secretary Henry Paulson said…(see post above)
Of course the Fed IS planning (or already implementing) actions to bring mortgage rates down to (or below) 4.5% on 30-year fixed.
Paulson isn’t an idiot (although he acts like one); he understands that a promise to America for rates of 4.5% on 30-year fixed would bring the already slow-as-molasses home market to a standstill, as potential homebuyers stalled purchases and waited for the promised 4.5% loans.
So Paulson made the only statement that wouldn’t get him fired. He lied and said they weren’t targeting 4.5%
December 16, 2008 at 5:07 PM #316717stockstradrParticipantTreasury Secretary Henry Paulson said…(see post above)
Of course the Fed IS planning (or already implementing) actions to bring mortgage rates down to (or below) 4.5% on 30-year fixed.
Paulson isn’t an idiot (although he acts like one); he understands that a promise to America for rates of 4.5% on 30-year fixed would bring the already slow-as-molasses home market to a standstill, as potential homebuyers stalled purchases and waited for the promised 4.5% loans.
So Paulson made the only statement that wouldn’t get him fired. He lied and said they weren’t targeting 4.5%
December 16, 2008 at 5:07 PM #316758stockstradrParticipantTreasury Secretary Henry Paulson said…(see post above)
Of course the Fed IS planning (or already implementing) actions to bring mortgage rates down to (or below) 4.5% on 30-year fixed.
Paulson isn’t an idiot (although he acts like one); he understands that a promise to America for rates of 4.5% on 30-year fixed would bring the already slow-as-molasses home market to a standstill, as potential homebuyers stalled purchases and waited for the promised 4.5% loans.
So Paulson made the only statement that wouldn’t get him fired. He lied and said they weren’t targeting 4.5%
December 16, 2008 at 5:07 PM #316778stockstradrParticipantTreasury Secretary Henry Paulson said…(see post above)
Of course the Fed IS planning (or already implementing) actions to bring mortgage rates down to (or below) 4.5% on 30-year fixed.
Paulson isn’t an idiot (although he acts like one); he understands that a promise to America for rates of 4.5% on 30-year fixed would bring the already slow-as-molasses home market to a standstill, as potential homebuyers stalled purchases and waited for the promised 4.5% loans.
So Paulson made the only statement that wouldn’t get him fired. He lied and said they weren’t targeting 4.5%
December 16, 2008 at 5:07 PM #316853stockstradrParticipantTreasury Secretary Henry Paulson said…(see post above)
Of course the Fed IS planning (or already implementing) actions to bring mortgage rates down to (or below) 4.5% on 30-year fixed.
Paulson isn’t an idiot (although he acts like one); he understands that a promise to America for rates of 4.5% on 30-year fixed would bring the already slow-as-molasses home market to a standstill, as potential homebuyers stalled purchases and waited for the promised 4.5% loans.
So Paulson made the only statement that wouldn’t get him fired. He lied and said they weren’t targeting 4.5%
December 16, 2008 at 5:14 PM #316381Running BearParticipantI have a quote for all of you thinking everything is now great and we have nowhere to go but up.
“You cannot solve problems with the same level of consciousness that created them.”
-Albert EinsteinSo we are going to solve too much credit expansion and easy money with even more credit expansion and easy money. We are making this problem even worse down the road. We may be able to put this off for a little longer but it will only make it much worse. Final quote.
“There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as a result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved.”
-Ludwig von MisesSo who is going to lend us all this money again?
My2Cents
December 16, 2008 at 5:14 PM #316732Running BearParticipantI have a quote for all of you thinking everything is now great and we have nowhere to go but up.
“You cannot solve problems with the same level of consciousness that created them.”
-Albert EinsteinSo we are going to solve too much credit expansion and easy money with even more credit expansion and easy money. We are making this problem even worse down the road. We may be able to put this off for a little longer but it will only make it much worse. Final quote.
“There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as a result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved.”
-Ludwig von MisesSo who is going to lend us all this money again?
My2Cents
December 16, 2008 at 5:14 PM #316774Running BearParticipantI have a quote for all of you thinking everything is now great and we have nowhere to go but up.
“You cannot solve problems with the same level of consciousness that created them.”
-Albert EinsteinSo we are going to solve too much credit expansion and easy money with even more credit expansion and easy money. We are making this problem even worse down the road. We may be able to put this off for a little longer but it will only make it much worse. Final quote.
“There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as a result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved.”
-Ludwig von MisesSo who is going to lend us all this money again?
My2Cents
December 16, 2008 at 5:14 PM #316793Running BearParticipantI have a quote for all of you thinking everything is now great and we have nowhere to go but up.
“You cannot solve problems with the same level of consciousness that created them.”
-Albert EinsteinSo we are going to solve too much credit expansion and easy money with even more credit expansion and easy money. We are making this problem even worse down the road. We may be able to put this off for a little longer but it will only make it much worse. Final quote.
“There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as a result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved.”
-Ludwig von MisesSo who is going to lend us all this money again?
My2Cents
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