Home › Forums › Financial Markets/Economics › This is the terrible economic Pain we are feeling?
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April 3, 2008 at 3:24 PM #180365April 3, 2008 at 3:24 PM #180735crParticipant
To play devil’s advocate a bit…
Perhaps that’s only because our debt driven society brainwashes people into thinking they can’t be financially successful or retire comfortably (or at all) if they don’t own a home. The distress of not fulfilling the American dream and fueling our insatiatiable propensity to expend may lead some to a lesser sense of self worth, et al.
Then again, as this housing downturn plays out a lot of “homeowners” probably aren’t faring as well as renters these days.
April 3, 2008 at 3:24 PM #180737crParticipantTo play devil’s advocate a bit…
Perhaps that’s only because our debt driven society brainwashes people into thinking they can’t be financially successful or retire comfortably (or at all) if they don’t own a home. The distress of not fulfilling the American dream and fueling our insatiatiable propensity to expend may lead some to a lesser sense of self worth, et al.
Then again, as this housing downturn plays out a lot of “homeowners” probably aren’t faring as well as renters these days.
April 3, 2008 at 3:24 PM #180751crParticipantTo play devil’s advocate a bit…
Perhaps that’s only because our debt driven society brainwashes people into thinking they can’t be financially successful or retire comfortably (or at all) if they don’t own a home. The distress of not fulfilling the American dream and fueling our insatiatiable propensity to expend may lead some to a lesser sense of self worth, et al.
Then again, as this housing downturn plays out a lot of “homeowners” probably aren’t faring as well as renters these days.
April 3, 2008 at 3:25 PM #180360surveyorParticipant~~~~~~~~~~~~
Like smoking and lung cancer, right?
Sure.
cor·re·la·tion Audio Help (kôr’ə-lā’shən, kŏr’-) Pronunciation Key
n.
A causal, complementary, parallel, or reciprocal relationship, especially a structural, functional, or qualitative correspondence between two comparable entities: a correlation between drug abuse and crime.
Statistics The simultaneous change in value of two numerically valued random variables: the positive correlation between cigarette smoking and the incidence of lung cancer; the negative correlation between age and normal vision.
An act of correlating or the condition of being correlated.April 3, 2008 at 3:25 PM #180730surveyorParticipant~~~~~~~~~~~~
Like smoking and lung cancer, right?
Sure.
cor·re·la·tion Audio Help (kôr’ə-lā’shən, kŏr’-) Pronunciation Key
n.
A causal, complementary, parallel, or reciprocal relationship, especially a structural, functional, or qualitative correspondence between two comparable entities: a correlation between drug abuse and crime.
Statistics The simultaneous change in value of two numerically valued random variables: the positive correlation between cigarette smoking and the incidence of lung cancer; the negative correlation between age and normal vision.
An act of correlating or the condition of being correlated.April 3, 2008 at 3:25 PM #180731surveyorParticipant~~~~~~~~~~~~
Like smoking and lung cancer, right?
Sure.
cor·re·la·tion Audio Help (kôr’ə-lā’shən, kŏr’-) Pronunciation Key
n.
A causal, complementary, parallel, or reciprocal relationship, especially a structural, functional, or qualitative correspondence between two comparable entities: a correlation between drug abuse and crime.
Statistics The simultaneous change in value of two numerically valued random variables: the positive correlation between cigarette smoking and the incidence of lung cancer; the negative correlation between age and normal vision.
An act of correlating or the condition of being correlated.April 3, 2008 at 3:25 PM #180746surveyorParticipant~~~~~~~~~~~~
Like smoking and lung cancer, right?
Sure.
cor·re·la·tion Audio Help (kôr’ə-lā’shən, kŏr’-) Pronunciation Key
n.
A causal, complementary, parallel, or reciprocal relationship, especially a structural, functional, or qualitative correspondence between two comparable entities: a correlation between drug abuse and crime.
Statistics The simultaneous change in value of two numerically valued random variables: the positive correlation between cigarette smoking and the incidence of lung cancer; the negative correlation between age and normal vision.
An act of correlating or the condition of being correlated.April 3, 2008 at 3:42 PM #180375not-so-average-joeParticipantBold-facing it from Merriam-Webster doesn’t affect the relationship between causality and correlation or the lack thereof. Just like the dictionary entry reflects the truth in some sense, but it won’t change the truth.
April 3, 2008 at 3:42 PM #180745not-so-average-joeParticipantBold-facing it from Merriam-Webster doesn’t affect the relationship between causality and correlation or the lack thereof. Just like the dictionary entry reflects the truth in some sense, but it won’t change the truth.
April 3, 2008 at 3:42 PM #180747not-so-average-joeParticipantBold-facing it from Merriam-Webster doesn’t affect the relationship between causality and correlation or the lack thereof. Just like the dictionary entry reflects the truth in some sense, but it won’t change the truth.
April 3, 2008 at 3:59 PM #1803855yearwaiterParticipantStill we are not feeling this “Terrible pain”, right now we are just seeing and feeling yet to come – on the way
5yearswaiter
April 3, 2008 at 3:59 PM #1807555yearwaiterParticipantStill we are not feeling this “Terrible pain”, right now we are just seeing and feeling yet to come – on the way
5yearswaiter
April 3, 2008 at 4:17 PM #180396DWCAPParticipantSurveyer-,
that isnt the whole story and you know it. I couldnt follow your link to the second article, but I do know atleast some of the stuff you are citing in the PBS. That is INCOME based improvements, not housing based. Hell the link takes you to something titled “Is inequality making us sicker”. They explore racism, immigration and nurtition comparing the poorest of our society to the richest to see how being poor negativly effects your wealth. Lets compare apples to apples here huh?
Smarter people tend ( I said tend, no guarentees) to be more educated and have higher incomes which allow higher standards of living. They also tend to own their houses (Gov tax rule if for no other reason), and as such overstate the health and behavioral value of owning. In the case I was talking about I am useing a well educated and high income earning couple having their first baby. They were not recient immigrants living in abestos lined apartments eating fast food everyday.I would be interested to see them compare the high income renting families to the high income owning families and see what comes out. I doubt they will find enough high income renting families to make it work, but that is what was ment by causality vs. correlation.
If we really want to get into that lets find out about the health and behavior problems of children raised in households where a reduction in the standard of living is taking place even if income is comparable. Find out if all the foreclosures of people who trusted what you posted are having a negative effect on their children as stress and arguments in the household rise, parents are gone more to work second jobs, and things like health insurance starts getting droped to make the morgage payment. See what starts happening then.
It breaks down to the fact that because it is cheaper signifiantly more of our poor rent than own. It also happens that being poor has largeer numbers of social and developmental consequences than being well off. That doesnt mean that owning a house will make your kid better off.April 3, 2008 at 4:17 PM #180756DWCAPParticipantSurveyer-,
that isnt the whole story and you know it. I couldnt follow your link to the second article, but I do know atleast some of the stuff you are citing in the PBS. That is INCOME based improvements, not housing based. Hell the link takes you to something titled “Is inequality making us sicker”. They explore racism, immigration and nurtition comparing the poorest of our society to the richest to see how being poor negativly effects your wealth. Lets compare apples to apples here huh?
Smarter people tend ( I said tend, no guarentees) to be more educated and have higher incomes which allow higher standards of living. They also tend to own their houses (Gov tax rule if for no other reason), and as such overstate the health and behavioral value of owning. In the case I was talking about I am useing a well educated and high income earning couple having their first baby. They were not recient immigrants living in abestos lined apartments eating fast food everyday.I would be interested to see them compare the high income renting families to the high income owning families and see what comes out. I doubt they will find enough high income renting families to make it work, but that is what was ment by causality vs. correlation.
If we really want to get into that lets find out about the health and behavior problems of children raised in households where a reduction in the standard of living is taking place even if income is comparable. Find out if all the foreclosures of people who trusted what you posted are having a negative effect on their children as stress and arguments in the household rise, parents are gone more to work second jobs, and things like health insurance starts getting droped to make the morgage payment. See what starts happening then.
It breaks down to the fact that because it is cheaper signifiantly more of our poor rent than own. It also happens that being poor has largeer numbers of social and developmental consequences than being well off. That doesnt mean that owning a house will make your kid better off. -
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