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CA renter.
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August 1, 2011 at 7:14 PM #714311August 1, 2011 at 10:24 PM #715486
evolusd
Participant[quote=walterwhite]Uncle Rico has a time machine[/quote]
But I still love technology…always and forever.
August 1, 2011 at 10:24 PM #714278Participant[quote=walterwhite]Uncle Rico has a time machine[/quote]
But I still love technology…always and forever.
August 1, 2011 at 10:24 PM #715125Participant[quote=walterwhite]Uncle Rico has a time machine[/quote]
But I still love technology…always and forever.
August 1, 2011 at 10:24 PM #714370Participant[quote=walterwhite]Uncle Rico has a time machine[/quote]
But I still love technology…always and forever.
August 1, 2011 at 10:24 PM #714971Participant[quote=walterwhite]Uncle Rico has a time machine[/quote]
But I still love technology…always and forever.
August 2, 2011 at 12:51 AM #714389CA renter
Participant[quote=jstoesz]The move up market is “stuck” because current mortgage owners cannot afford to take the hit on their current house. Everything sells for the right price, but folks who are having trouble moving up are trying to sell for past fictitious price levels while buying at current prices. That only works if you have a time machine.[/quote]
Exactly.
This is why many of us were thinking the bubble would take a long time to fully correct. A lot of people thought it was a “normal” RE cycle, and didn’t realize that the housing prices in 2001-2007 were the result of an unprecedented credit bubble. They’ve been waiting for prices to “go back up” to bubble levels. Good luck with that.
It’s the duration of the downturn that will hurt the most, and the duration was extended by all the bailouts. The bailouts have only served to make the downturn last longer, and will end up costing more money than if they had let things settle to levels where the economy could have stabilized on its own.
August 2, 2011 at 12:51 AM #715506Participant[quote=jstoesz]The move up market is “stuck” because current mortgage owners cannot afford to take the hit on their current house. Everything sells for the right price, but folks who are having trouble moving up are trying to sell for past fictitious price levels while buying at current prices. That only works if you have a time machine.[/quote]
Exactly.
This is why many of us were thinking the bubble would take a long time to fully correct. A lot of people thought it was a “normal” RE cycle, and didn’t realize that the housing prices in 2001-2007 were the result of an unprecedented credit bubble. They’ve been waiting for prices to “go back up” to bubble levels. Good luck with that.
It’s the duration of the downturn that will hurt the most, and the duration was extended by all the bailouts. The bailouts have only served to make the downturn last longer, and will end up costing more money than if they had let things settle to levels where the economy could have stabilized on its own.
August 2, 2011 at 12:51 AM #714298Participant[quote=jstoesz]The move up market is “stuck” because current mortgage owners cannot afford to take the hit on their current house. Everything sells for the right price, but folks who are having trouble moving up are trying to sell for past fictitious price levels while buying at current prices. That only works if you have a time machine.[/quote]
Exactly.
This is why many of us were thinking the bubble would take a long time to fully correct. A lot of people thought it was a “normal” RE cycle, and didn’t realize that the housing prices in 2001-2007 were the result of an unprecedented credit bubble. They’ve been waiting for prices to “go back up” to bubble levels. Good luck with that.
It’s the duration of the downturn that will hurt the most, and the duration was extended by all the bailouts. The bailouts have only served to make the downturn last longer, and will end up costing more money than if they had let things settle to levels where the economy could have stabilized on its own.
August 2, 2011 at 12:51 AM #715144Participant[quote=jstoesz]The move up market is “stuck” because current mortgage owners cannot afford to take the hit on their current house. Everything sells for the right price, but folks who are having trouble moving up are trying to sell for past fictitious price levels while buying at current prices. That only works if you have a time machine.[/quote]
Exactly.
This is why many of us were thinking the bubble would take a long time to fully correct. A lot of people thought it was a “normal” RE cycle, and didn’t realize that the housing prices in 2001-2007 were the result of an unprecedented credit bubble. They’ve been waiting for prices to “go back up” to bubble levels. Good luck with that.
It’s the duration of the downturn that will hurt the most, and the duration was extended by all the bailouts. The bailouts have only served to make the downturn last longer, and will end up costing more money than if they had let things settle to levels where the economy could have stabilized on its own.
August 2, 2011 at 12:51 AM #714991Participant[quote=jstoesz]The move up market is “stuck” because current mortgage owners cannot afford to take the hit on their current house. Everything sells for the right price, but folks who are having trouble moving up are trying to sell for past fictitious price levels while buying at current prices. That only works if you have a time machine.[/quote]
Exactly.
This is why many of us were thinking the bubble would take a long time to fully correct. A lot of people thought it was a “normal” RE cycle, and didn’t realize that the housing prices in 2001-2007 were the result of an unprecedented credit bubble. They’ve been waiting for prices to “go back up” to bubble levels. Good luck with that.
It’s the duration of the downturn that will hurt the most, and the duration was extended by all the bailouts. The bailouts have only served to make the downturn last longer, and will end up costing more money than if they had let things settle to levels where the economy could have stabilized on its own.
August 2, 2011 at 1:24 AM #715159Participant[quote=faterikcartman][quote=briansd1] With government budget cuts, economic growth will continue to be anemic.[/quote]
Brian, do you really believe this? Seriously?[/quote]
Even the most hard-core right-wingers acknowledge that cutting government spending will decrease GDP.
Definition Gross Domestic Product. The total market value of all final goods and services produced in a country in a given year, equal to total consumer, investment and government spending, plus the value of exports, minus the value of imports.
Read more: http://www.investorwords.com/2153/GDP.html#ixzz1TrEVBgBv
The government has been spending money it doesn’t have (borrowing). If it contracts, it will obviously cause our GDP to shrink.
Don’t forget, the money that is spent by the government (counted as govt spending in GDP calculations) usually ends up as wages or transfer payments of some sort, which are then spent again, almost immediately (counted as consumer spending in GDP calculations). IMHO, reducing government spending will absolutely choke the economy, not just slow it down a bit.
August 2, 2011 at 1:24 AM #715521Participant[quote=faterikcartman][quote=briansd1] With government budget cuts, economic growth will continue to be anemic.[/quote]
Brian, do you really believe this? Seriously?[/quote]
Even the most hard-core right-wingers acknowledge that cutting government spending will decrease GDP.
Definition Gross Domestic Product. The total market value of all final goods and services produced in a country in a given year, equal to total consumer, investment and government spending, plus the value of exports, minus the value of imports.
Read more: http://www.investorwords.com/2153/GDP.html#ixzz1TrEVBgBv
The government has been spending money it doesn’t have (borrowing). If it contracts, it will obviously cause our GDP to shrink.
Don’t forget, the money that is spent by the government (counted as govt spending in GDP calculations) usually ends up as wages or transfer payments of some sort, which are then spent again, almost immediately (counted as consumer spending in GDP calculations). IMHO, reducing government spending will absolutely choke the economy, not just slow it down a bit.
August 2, 2011 at 1:24 AM #715006Participant[quote=faterikcartman][quote=briansd1] With government budget cuts, economic growth will continue to be anemic.[/quote]
Brian, do you really believe this? Seriously?[/quote]
Even the most hard-core right-wingers acknowledge that cutting government spending will decrease GDP.
Definition Gross Domestic Product. The total market value of all final goods and services produced in a country in a given year, equal to total consumer, investment and government spending, plus the value of exports, minus the value of imports.
Read more: http://www.investorwords.com/2153/GDP.html#ixzz1TrEVBgBv
The government has been spending money it doesn’t have (borrowing). If it contracts, it will obviously cause our GDP to shrink.
Don’t forget, the money that is spent by the government (counted as govt spending in GDP calculations) usually ends up as wages or transfer payments of some sort, which are then spent again, almost immediately (counted as consumer spending in GDP calculations). IMHO, reducing government spending will absolutely choke the economy, not just slow it down a bit.
August 2, 2011 at 1:24 AM #714313Participant[quote=faterikcartman][quote=briansd1] With government budget cuts, economic growth will continue to be anemic.[/quote]
Brian, do you really believe this? Seriously?[/quote]
Even the most hard-core right-wingers acknowledge that cutting government spending will decrease GDP.
Definition Gross Domestic Product. The total market value of all final goods and services produced in a country in a given year, equal to total consumer, investment and government spending, plus the value of exports, minus the value of imports.
Read more: http://www.investorwords.com/2153/GDP.html#ixzz1TrEVBgBv
The government has been spending money it doesn’t have (borrowing). If it contracts, it will obviously cause our GDP to shrink.
Don’t forget, the money that is spent by the government (counted as govt spending in GDP calculations) usually ends up as wages or transfer payments of some sort, which are then spent again, almost immediately (counted as consumer spending in GDP calculations). IMHO, reducing government spending will absolutely choke the economy, not just slow it down a bit.
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