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barnaby33.
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August 25, 2010 at 1:28 PM #597232August 25, 2010 at 1:41 PM #596196
Anonymous
GuestWhy the sarcasm sdr, everything you list is real, although I don’t expect rates to soar in the near term.
Regarding the argument that house prices correcting to 2000 nominal causing a depression, that is horseshit. For one thing we already are in a depression. The government is only covering it up with their money printing, bailouts and other manipulation.
Secondly, the economy during the 2000s bubble was entirely fake so it shouldn’t ever recover to where it was because it was bogus to begin with.
Finally, in terms of the falling home prices killing consumer spending, I am not convinced of that either, at least not as a long term problem. The only people who are really negativly affected are those who purchased homes between say 2002/2003 and today. Most everybody else should have positive equity and/or are renters so don’t have any mortgage debt. In fact, the lower home prices iun the long run will encourage legitimate new home ownership (not the bogus home ownership society of the bubble). So I see that as a net gain in the long term.
The only people who are against this are those who bought during the bubble. But what % of the population is really in this boat? Let’s just get this correction over with so we can move on with our lives and try to rebuild a legitimate (although less prosperous) economy.
August 25, 2010 at 1:41 PM #596289GuestWhy the sarcasm sdr, everything you list is real, although I don’t expect rates to soar in the near term.
Regarding the argument that house prices correcting to 2000 nominal causing a depression, that is horseshit. For one thing we already are in a depression. The government is only covering it up with their money printing, bailouts and other manipulation.
Secondly, the economy during the 2000s bubble was entirely fake so it shouldn’t ever recover to where it was because it was bogus to begin with.
Finally, in terms of the falling home prices killing consumer spending, I am not convinced of that either, at least not as a long term problem. The only people who are really negativly affected are those who purchased homes between say 2002/2003 and today. Most everybody else should have positive equity and/or are renters so don’t have any mortgage debt. In fact, the lower home prices iun the long run will encourage legitimate new home ownership (not the bogus home ownership society of the bubble). So I see that as a net gain in the long term.
The only people who are against this are those who bought during the bubble. But what % of the population is really in this boat? Let’s just get this correction over with so we can move on with our lives and try to rebuild a legitimate (although less prosperous) economy.
August 25, 2010 at 1:41 PM #596828GuestWhy the sarcasm sdr, everything you list is real, although I don’t expect rates to soar in the near term.
Regarding the argument that house prices correcting to 2000 nominal causing a depression, that is horseshit. For one thing we already are in a depression. The government is only covering it up with their money printing, bailouts and other manipulation.
Secondly, the economy during the 2000s bubble was entirely fake so it shouldn’t ever recover to where it was because it was bogus to begin with.
Finally, in terms of the falling home prices killing consumer spending, I am not convinced of that either, at least not as a long term problem. The only people who are really negativly affected are those who purchased homes between say 2002/2003 and today. Most everybody else should have positive equity and/or are renters so don’t have any mortgage debt. In fact, the lower home prices iun the long run will encourage legitimate new home ownership (not the bogus home ownership society of the bubble). So I see that as a net gain in the long term.
The only people who are against this are those who bought during the bubble. But what % of the population is really in this boat? Let’s just get this correction over with so we can move on with our lives and try to rebuild a legitimate (although less prosperous) economy.
August 25, 2010 at 1:41 PM #596937GuestWhy the sarcasm sdr, everything you list is real, although I don’t expect rates to soar in the near term.
Regarding the argument that house prices correcting to 2000 nominal causing a depression, that is horseshit. For one thing we already are in a depression. The government is only covering it up with their money printing, bailouts and other manipulation.
Secondly, the economy during the 2000s bubble was entirely fake so it shouldn’t ever recover to where it was because it was bogus to begin with.
Finally, in terms of the falling home prices killing consumer spending, I am not convinced of that either, at least not as a long term problem. The only people who are really negativly affected are those who purchased homes between say 2002/2003 and today. Most everybody else should have positive equity and/or are renters so don’t have any mortgage debt. In fact, the lower home prices iun the long run will encourage legitimate new home ownership (not the bogus home ownership society of the bubble). So I see that as a net gain in the long term.
The only people who are against this are those who bought during the bubble. But what % of the population is really in this boat? Let’s just get this correction over with so we can move on with our lives and try to rebuild a legitimate (although less prosperous) economy.
August 25, 2010 at 1:41 PM #597252GuestWhy the sarcasm sdr, everything you list is real, although I don’t expect rates to soar in the near term.
Regarding the argument that house prices correcting to 2000 nominal causing a depression, that is horseshit. For one thing we already are in a depression. The government is only covering it up with their money printing, bailouts and other manipulation.
Secondly, the economy during the 2000s bubble was entirely fake so it shouldn’t ever recover to where it was because it was bogus to begin with.
Finally, in terms of the falling home prices killing consumer spending, I am not convinced of that either, at least not as a long term problem. The only people who are really negativly affected are those who purchased homes between say 2002/2003 and today. Most everybody else should have positive equity and/or are renters so don’t have any mortgage debt. In fact, the lower home prices iun the long run will encourage legitimate new home ownership (not the bogus home ownership society of the bubble). So I see that as a net gain in the long term.
The only people who are against this are those who bought during the bubble. But what % of the population is really in this boat? Let’s just get this correction over with so we can move on with our lives and try to rebuild a legitimate (although less prosperous) economy.
August 25, 2010 at 1:44 PM #596186Nor-LA-SD-guy
ParticipantWell Just don’t blame it on boomers retiring,
If you did not notice we got a echo boom taking off.
2007 was a record breaker, 2008-10 births have not let up much either.August 25, 2010 at 1:44 PM #596279ParticipantWell Just don’t blame it on boomers retiring,
If you did not notice we got a echo boom taking off.
2007 was a record breaker, 2008-10 births have not let up much either.August 25, 2010 at 1:44 PM #596818ParticipantWell Just don’t blame it on boomers retiring,
If you did not notice we got a echo boom taking off.
2007 was a record breaker, 2008-10 births have not let up much either.August 25, 2010 at 1:44 PM #596927ParticipantWell Just don’t blame it on boomers retiring,
If you did not notice we got a echo boom taking off.
2007 was a record breaker, 2008-10 births have not let up much either.August 25, 2010 at 1:44 PM #597242ParticipantWell Just don’t blame it on boomers retiring,
If you did not notice we got a echo boom taking off.
2007 was a record breaker, 2008-10 births have not let up much either.August 25, 2010 at 1:48 PM #596211Participant“legitimate (although less prosperous) economy”
Tell that to the City.
August 25, 2010 at 1:48 PM #596304Participant“legitimate (although less prosperous) economy”
Tell that to the City.
August 25, 2010 at 1:48 PM #596843Participant“legitimate (although less prosperous) economy”
Tell that to the City.
August 25, 2010 at 1:48 PM #596952Participant“legitimate (although less prosperous) economy”
Tell that to the City.
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