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June 20, 2007 at 8:14 AM #9345June 20, 2007 at 8:22 AM #60711hipmattParticipant
I like how the answer to everything is to lower the fed funds rate again… that will fix all our problems, and then home prices will fly back up again.
As if the dollar isn’t already weak enough, inflation high enough(I believe its higher than what is being quoted to us), and our savings rate negative enough.
America is addicted to credit, and we want even more of the drug that is responsible for getting us to where we are now. What a shame that apparently everyone thinks we need to finance ourselves out of trouble.
I don’t think a rate cut would save us anyways, but I wouldn’t be surprised if we tried it, because thats the mentality that we have had lately.
June 20, 2007 at 8:22 AM #60745hipmattParticipantI like how the answer to everything is to lower the fed funds rate again… that will fix all our problems, and then home prices will fly back up again.
As if the dollar isn’t already weak enough, inflation high enough(I believe its higher than what is being quoted to us), and our savings rate negative enough.
America is addicted to credit, and we want even more of the drug that is responsible for getting us to where we are now. What a shame that apparently everyone thinks we need to finance ourselves out of trouble.
I don’t think a rate cut would save us anyways, but I wouldn’t be surprised if we tried it, because thats the mentality that we have had lately.
June 20, 2007 at 8:29 AM #60716Alex_angelParticipantI do love the quote at how people can afford 8% less house than they could 5 weeks ago. That is a huge hit to a lot of buyers. Sellers would have to at least lower their prices another 8% now just to keep that same buyer happy.
June 20, 2007 at 8:29 AM #60751Alex_angelParticipantI do love the quote at how people can afford 8% less house than they could 5 weeks ago. That is a huge hit to a lot of buyers. Sellers would have to at least lower their prices another 8% now just to keep that same buyer happy.
June 20, 2007 at 11:55 AM #60758what_a_disastaParticipantWhere would rates have to go before it was 50% less affordable?
June 20, 2007 at 11:55 AM #60793what_a_disastaParticipantWhere would rates have to go before it was 50% less affordable?
June 21, 2007 at 1:04 AM #60918rankandfileParticipantAny discerning reader worth her salt will read this article and get the general impression that the housing market, and the economy in general, is like a heaping spade full of cow dung about to be shoveled into a roaring fan that is pointed in the direction the shoveler.
What I find astonishing is the fact that a Bloomberg-level reporter is still allowed to report the National Association or Realtor’s (NAR’s) figures on home prices without factoring a little thing called INFLATION!!!
I am a newbie when it comes to this stuff; yet even I know enough to at least point out the effects of inflation. I would do this in a fashion that is analogous to every Tom-and-Jane newspaper article on housing that gives the definition of the median price in an effort to keep the attention of all the new middle school-level readers that are looking for a reason to drop their newspaper and see if Paris Hilton’s boobs jiggle as she is escorted into jail (again).
Is Bloomberg hiring? I think they can do a lot better than this.
June 21, 2007 at 1:04 AM #60954rankandfileParticipantAny discerning reader worth her salt will read this article and get the general impression that the housing market, and the economy in general, is like a heaping spade full of cow dung about to be shoveled into a roaring fan that is pointed in the direction the shoveler.
What I find astonishing is the fact that a Bloomberg-level reporter is still allowed to report the National Association or Realtor’s (NAR’s) figures on home prices without factoring a little thing called INFLATION!!!
I am a newbie when it comes to this stuff; yet even I know enough to at least point out the effects of inflation. I would do this in a fashion that is analogous to every Tom-and-Jane newspaper article on housing that gives the definition of the median price in an effort to keep the attention of all the new middle school-level readers that are looking for a reason to drop their newspaper and see if Paris Hilton’s boobs jiggle as she is escorted into jail (again).
Is Bloomberg hiring? I think they can do a lot better than this.
June 21, 2007 at 7:00 AM #60933NotCrankyParticipantWhere would rates have to go before it was 50% less affordable?
To double the PI(principal and interest) payment rates would be about 15%
June 21, 2007 at 7:00 AM #60970NotCrankyParticipantWhere would rates have to go before it was 50% less affordable?
To double the PI(principal and interest) payment rates would be about 15%
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