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November 4, 2010 at 7:52 PM #628006November 4, 2010 at 8:32 PM #626947
CA renter
Participant[quote=jpinpb]Thomas M. Hoenig. He’s the president of the Kansas City Fed, and he’s voted against Fed policy at every one of our meetings this year. He thinks this whole creating-$600-billion-out-of-thin-air thing is going to do more harm than good. He also thinks that all this money we’ve pumped into the economy could inflate another bubble and create widespread worries about inflation. That could lead us right into another crisis
Feds 600 billion statement translation[/quote]
When one considers the fact that the stock market is again where it was in 1999/2000 and 2005 (both of which I would call very bullish and “peakish” periods), and this is supposed to be “The Greatest Recession Since the Great Depression,” I’d say the bubble is already here. Not only stocks, but look at bonds, commodities, even housing (what had yet to fall before all the Fed/govt’s intervention seized everything up)…everything is UP, UP, UP!!!
The bubble is here, right now, and it’s a doozy, IMHO.
November 4, 2010 at 8:32 PM #627025Participant[quote=jpinpb]Thomas M. Hoenig. He’s the president of the Kansas City Fed, and he’s voted against Fed policy at every one of our meetings this year. He thinks this whole creating-$600-billion-out-of-thin-air thing is going to do more harm than good. He also thinks that all this money we’ve pumped into the economy could inflate another bubble and create widespread worries about inflation. That could lead us right into another crisis
Feds 600 billion statement translation[/quote]
When one considers the fact that the stock market is again where it was in 1999/2000 and 2005 (both of which I would call very bullish and “peakish” periods), and this is supposed to be “The Greatest Recession Since the Great Depression,” I’d say the bubble is already here. Not only stocks, but look at bonds, commodities, even housing (what had yet to fall before all the Fed/govt’s intervention seized everything up)…everything is UP, UP, UP!!!
The bubble is here, right now, and it’s a doozy, IMHO.
November 4, 2010 at 8:32 PM #627581Participant[quote=jpinpb]Thomas M. Hoenig. He’s the president of the Kansas City Fed, and he’s voted against Fed policy at every one of our meetings this year. He thinks this whole creating-$600-billion-out-of-thin-air thing is going to do more harm than good. He also thinks that all this money we’ve pumped into the economy could inflate another bubble and create widespread worries about inflation. That could lead us right into another crisis
Feds 600 billion statement translation[/quote]
When one considers the fact that the stock market is again where it was in 1999/2000 and 2005 (both of which I would call very bullish and “peakish” periods), and this is supposed to be “The Greatest Recession Since the Great Depression,” I’d say the bubble is already here. Not only stocks, but look at bonds, commodities, even housing (what had yet to fall before all the Fed/govt’s intervention seized everything up)…everything is UP, UP, UP!!!
The bubble is here, right now, and it’s a doozy, IMHO.
November 4, 2010 at 8:32 PM #627705Participant[quote=jpinpb]Thomas M. Hoenig. He’s the president of the Kansas City Fed, and he’s voted against Fed policy at every one of our meetings this year. He thinks this whole creating-$600-billion-out-of-thin-air thing is going to do more harm than good. He also thinks that all this money we’ve pumped into the economy could inflate another bubble and create widespread worries about inflation. That could lead us right into another crisis
Feds 600 billion statement translation[/quote]
When one considers the fact that the stock market is again where it was in 1999/2000 and 2005 (both of which I would call very bullish and “peakish” periods), and this is supposed to be “The Greatest Recession Since the Great Depression,” I’d say the bubble is already here. Not only stocks, but look at bonds, commodities, even housing (what had yet to fall before all the Fed/govt’s intervention seized everything up)…everything is UP, UP, UP!!!
The bubble is here, right now, and it’s a doozy, IMHO.
November 4, 2010 at 8:32 PM #628016Participant[quote=jpinpb]Thomas M. Hoenig. He’s the president of the Kansas City Fed, and he’s voted against Fed policy at every one of our meetings this year. He thinks this whole creating-$600-billion-out-of-thin-air thing is going to do more harm than good. He also thinks that all this money we’ve pumped into the economy could inflate another bubble and create widespread worries about inflation. That could lead us right into another crisis
Feds 600 billion statement translation[/quote]
When one considers the fact that the stock market is again where it was in 1999/2000 and 2005 (both of which I would call very bullish and “peakish” periods), and this is supposed to be “The Greatest Recession Since the Great Depression,” I’d say the bubble is already here. Not only stocks, but look at bonds, commodities, even housing (what had yet to fall before all the Fed/govt’s intervention seized everything up)…everything is UP, UP, UP!!!
The bubble is here, right now, and it’s a doozy, IMHO.
November 4, 2010 at 9:53 PM #626961Anonymous
Guestsdr, if the economy in SD is doing so well, then why are RE prices still going down (or at best flat)? Even with HISTORICALLY low interest rates?
Apparently not everyone is doing so well like “your clients”. I swear you must literally walk the streets with blinders on.
November 4, 2010 at 9:53 PM #627040Guestsdr, if the economy in SD is doing so well, then why are RE prices still going down (or at best flat)? Even with HISTORICALLY low interest rates?
Apparently not everyone is doing so well like “your clients”. I swear you must literally walk the streets with blinders on.
November 4, 2010 at 9:53 PM #627596Guestsdr, if the economy in SD is doing so well, then why are RE prices still going down (or at best flat)? Even with HISTORICALLY low interest rates?
Apparently not everyone is doing so well like “your clients”. I swear you must literally walk the streets with blinders on.
November 4, 2010 at 9:53 PM #627720Guestsdr, if the economy in SD is doing so well, then why are RE prices still going down (or at best flat)? Even with HISTORICALLY low interest rates?
Apparently not everyone is doing so well like “your clients”. I swear you must literally walk the streets with blinders on.
November 4, 2010 at 9:53 PM #628030Guestsdr, if the economy in SD is doing so well, then why are RE prices still going down (or at best flat)? Even with HISTORICALLY low interest rates?
Apparently not everyone is doing so well like “your clients”. I swear you must literally walk the streets with blinders on.
November 4, 2010 at 10:15 PM #626971sdrealtor
ParticipantDZ
The direction of RE prices has only limited connection to the economy at this point because they are still slightly overvalued from a historical perspective. Prices are behaving very typically for where we are in an annual secular cycle. Prices are stable to slightly declining and there are deals to be had. Once we hit Spring things will pick up and prices will firm up. The it will happen all over again once Summer fades.Good homes priced well in this market are having no problems finding buyers.
As far as whether everyone is doing well, of course they arent but plenty are. My point was that relative to the rest of the country we seem to be faring pretty darn well. Two weeks ago our schools were on Fall break and I took my kids to Maui. There were familes there from the Encinitas School district everywhere we went. I seriously must have run into 50 different familes I knew in the course of a week. There were close to 10 at our resort alone. As harsh as you want to beleive this economy is, there are plenty of folks who are thriving out there.
November 4, 2010 at 10:15 PM #627050ParticipantDZ
The direction of RE prices has only limited connection to the economy at this point because they are still slightly overvalued from a historical perspective. Prices are behaving very typically for where we are in an annual secular cycle. Prices are stable to slightly declining and there are deals to be had. Once we hit Spring things will pick up and prices will firm up. The it will happen all over again once Summer fades.Good homes priced well in this market are having no problems finding buyers.
As far as whether everyone is doing well, of course they arent but plenty are. My point was that relative to the rest of the country we seem to be faring pretty darn well. Two weeks ago our schools were on Fall break and I took my kids to Maui. There were familes there from the Encinitas School district everywhere we went. I seriously must have run into 50 different familes I knew in the course of a week. There were close to 10 at our resort alone. As harsh as you want to beleive this economy is, there are plenty of folks who are thriving out there.
November 4, 2010 at 10:15 PM #627606ParticipantDZ
The direction of RE prices has only limited connection to the economy at this point because they are still slightly overvalued from a historical perspective. Prices are behaving very typically for where we are in an annual secular cycle. Prices are stable to slightly declining and there are deals to be had. Once we hit Spring things will pick up and prices will firm up. The it will happen all over again once Summer fades.Good homes priced well in this market are having no problems finding buyers.
As far as whether everyone is doing well, of course they arent but plenty are. My point was that relative to the rest of the country we seem to be faring pretty darn well. Two weeks ago our schools were on Fall break and I took my kids to Maui. There were familes there from the Encinitas School district everywhere we went. I seriously must have run into 50 different familes I knew in the course of a week. There were close to 10 at our resort alone. As harsh as you want to beleive this economy is, there are plenty of folks who are thriving out there.
November 4, 2010 at 10:15 PM #627730ParticipantDZ
The direction of RE prices has only limited connection to the economy at this point because they are still slightly overvalued from a historical perspective. Prices are behaving very typically for where we are in an annual secular cycle. Prices are stable to slightly declining and there are deals to be had. Once we hit Spring things will pick up and prices will firm up. The it will happen all over again once Summer fades.Good homes priced well in this market are having no problems finding buyers.
As far as whether everyone is doing well, of course they arent but plenty are. My point was that relative to the rest of the country we seem to be faring pretty darn well. Two weeks ago our schools were on Fall break and I took my kids to Maui. There were familes there from the Encinitas School district everywhere we went. I seriously must have run into 50 different familes I knew in the course of a week. There were close to 10 at our resort alone. As harsh as you want to beleive this economy is, there are plenty of folks who are thriving out there.
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