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    • November 7, 2007 at 12:51 PM #10840
      markzuber
      Participant

      The government and the banks try to bailout irresponsible homeowners and keep home prices high. What about first time home buyers; they have to pay for the overpriced housing. The only way to force the home prices to drop is to refuse to pay for the homes that are priced artificially high.

    • November 7, 2007 at 1:18 PM #96806
      nostradamus
      Participant

      I agree and think America should go on hiatus from buying all non-essentials for a while. This era of rampant, debt-based consumerism is an abomination. Gotta get that new iPod, then whoa there’s an even newer iPod I gotta get now. Whoa, look at that new car stereo which I can plug my new iPod into! Gotta get it! Wii! Surround sound! Plasma! Hybrid! Navigation system! iphone! WTF!?

    • November 7, 2007 at 1:18 PM #96869
      nostradamus
      Participant

      I agree and think America should go on hiatus from buying all non-essentials for a while. This era of rampant, debt-based consumerism is an abomination. Gotta get that new iPod, then whoa there’s an even newer iPod I gotta get now. Whoa, look at that new car stereo which I can plug my new iPod into! Gotta get it! Wii! Surround sound! Plasma! Hybrid! Navigation system! iphone! WTF!?

    • November 7, 2007 at 1:18 PM #96876
      nostradamus
      Participant

      I agree and think America should go on hiatus from buying all non-essentials for a while. This era of rampant, debt-based consumerism is an abomination. Gotta get that new iPod, then whoa there’s an even newer iPod I gotta get now. Whoa, look at that new car stereo which I can plug my new iPod into! Gotta get it! Wii! Surround sound! Plasma! Hybrid! Navigation system! iphone! WTF!?

    • November 7, 2007 at 1:18 PM #96884
      nostradamus
      Participant

      I agree and think America should go on hiatus from buying all non-essentials for a while. This era of rampant, debt-based consumerism is an abomination. Gotta get that new iPod, then whoa there’s an even newer iPod I gotta get now. Whoa, look at that new car stereo which I can plug my new iPod into! Gotta get it! Wii! Surround sound! Plasma! Hybrid! Navigation system! iphone! WTF!?

    • November 7, 2007 at 6:11 PM #97065
      bob007
      Participant

      I can see Apple getting wiped out as a company – overpriced computers, overpriced portable MP3 players, overpriced cellphones

      • November 7, 2007 at 7:20 PM #97105
        kewp
        Participant

        Here, here.

        If the powers that be want a bailout, how about a special 0% fixed loan right from the Fed for all first-time home buyers with good credit.

        This would create an artificially high bottom, but it might be worth it in the long run.

        • November 7, 2007 at 7:35 PM #97126
          drunkle
          Participant

          well, if artificially high home prices are supported, then the higher rents are also justified…

        • November 8, 2007 at 12:22 AM #97226
          one_muggle
          Participant

          If you include all government intervention, then prices were already artificially high, even before the bubble. The tax deduction for mortgages already juiced housing prices, since it makes a given mortgage cheaper. As people compete for houses, the discount is, well, discounted. If you want to argue that this isn’t the case, imagine what would happen to house prices-all other things being equal– if the deduction were taken away.

          I think that deduction has a bigger influence on prices, than does this collection of bailouts. Sure, the individuals that get bailed out will make out like bandits, but it doesn’t look like the scale will affect the market much, at least not yet.

          -one muggle

        • November 8, 2007 at 12:22 AM #97287
          one_muggle
          Participant

          If you include all government intervention, then prices were already artificially high, even before the bubble. The tax deduction for mortgages already juiced housing prices, since it makes a given mortgage cheaper. As people compete for houses, the discount is, well, discounted. If you want to argue that this isn’t the case, imagine what would happen to house prices-all other things being equal– if the deduction were taken away.

          I think that deduction has a bigger influence on prices, than does this collection of bailouts. Sure, the individuals that get bailed out will make out like bandits, but it doesn’t look like the scale will affect the market much, at least not yet.

          -one muggle

        • November 8, 2007 at 12:22 AM #97297
          one_muggle
          Participant

          If you include all government intervention, then prices were already artificially high, even before the bubble. The tax deduction for mortgages already juiced housing prices, since it makes a given mortgage cheaper. As people compete for houses, the discount is, well, discounted. If you want to argue that this isn’t the case, imagine what would happen to house prices-all other things being equal– if the deduction were taken away.

          I think that deduction has a bigger influence on prices, than does this collection of bailouts. Sure, the individuals that get bailed out will make out like bandits, but it doesn’t look like the scale will affect the market much, at least not yet.

          -one muggle

        • November 8, 2007 at 12:22 AM #97306
          one_muggle
          Participant

          If you include all government intervention, then prices were already artificially high, even before the bubble. The tax deduction for mortgages already juiced housing prices, since it makes a given mortgage cheaper. As people compete for houses, the discount is, well, discounted. If you want to argue that this isn’t the case, imagine what would happen to house prices-all other things being equal– if the deduction were taken away.

          I think that deduction has a bigger influence on prices, than does this collection of bailouts. Sure, the individuals that get bailed out will make out like bandits, but it doesn’t look like the scale will affect the market much, at least not yet.

          -one muggle

        • November 7, 2007 at 7:35 PM #97187
          drunkle
          Participant

          well, if artificially high home prices are supported, then the higher rents are also justified…

        • November 7, 2007 at 7:35 PM #97197
          drunkle
          Participant

          well, if artificially high home prices are supported, then the higher rents are also justified…

        • November 7, 2007 at 7:35 PM #97205
          drunkle
          Participant

          well, if artificially high home prices are supported, then the higher rents are also justified…

      • November 7, 2007 at 7:20 PM #97167
        kewp
        Participant

        Here, here.

        If the powers that be want a bailout, how about a special 0% fixed loan right from the Fed for all first-time home buyers with good credit.

        This would create an artificially high bottom, but it might be worth it in the long run.

      • November 7, 2007 at 7:20 PM #97176
        kewp
        Participant

        Here, here.

        If the powers that be want a bailout, how about a special 0% fixed loan right from the Fed for all first-time home buyers with good credit.

        This would create an artificially high bottom, but it might be worth it in the long run.

      • November 7, 2007 at 7:20 PM #97184
        kewp
        Participant

        Here, here.

        If the powers that be want a bailout, how about a special 0% fixed loan right from the Fed for all first-time home buyers with good credit.

        This would create an artificially high bottom, but it might be worth it in the long run.

    • November 7, 2007 at 6:11 PM #97127
      bob007
      Participant

      I can see Apple getting wiped out as a company – overpriced computers, overpriced portable MP3 players, overpriced cellphones

    • November 7, 2007 at 6:11 PM #97136
      bob007
      Participant

      I can see Apple getting wiped out as a company – overpriced computers, overpriced portable MP3 players, overpriced cellphones

    • November 7, 2007 at 6:11 PM #97146
      bob007
      Participant

      I can see Apple getting wiped out as a company – overpriced computers, overpriced portable MP3 players, overpriced cellphones

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