Home › Forums › Financial Markets/Economics › Why California Is Doomed
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DWCAP.
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March 9, 2010 at 6:49 PM #524527March 9, 2010 at 6:57 PM #523606
peterb
ParticipantDoomed seems a strong word. But the gap between the Haves and the Have Not’s is getting bigger every day. The last bastion of socialism, public unions, is starting to be attacked. State and local govts cannot meet their obligations. CA will start to resemble a 2nd world country in the not too distant future.
March 9, 2010 at 6:57 PM #523743peterb
ParticipantDoomed seems a strong word. But the gap between the Haves and the Have Not’s is getting bigger every day. The last bastion of socialism, public unions, is starting to be attacked. State and local govts cannot meet their obligations. CA will start to resemble a 2nd world country in the not too distant future.
March 9, 2010 at 6:57 PM #524184peterb
ParticipantDoomed seems a strong word. But the gap between the Haves and the Have Not’s is getting bigger every day. The last bastion of socialism, public unions, is starting to be attacked. State and local govts cannot meet their obligations. CA will start to resemble a 2nd world country in the not too distant future.
March 9, 2010 at 6:57 PM #524280peterb
ParticipantDoomed seems a strong word. But the gap between the Haves and the Have Not’s is getting bigger every day. The last bastion of socialism, public unions, is starting to be attacked. State and local govts cannot meet their obligations. CA will start to resemble a 2nd world country in the not too distant future.
March 9, 2010 at 6:57 PM #524538peterb
ParticipantDoomed seems a strong word. But the gap between the Haves and the Have Not’s is getting bigger every day. The last bastion of socialism, public unions, is starting to be attacked. State and local govts cannot meet their obligations. CA will start to resemble a 2nd world country in the not too distant future.
March 10, 2010 at 12:03 AM #523791CA renter
Participant[quote=Nor-LA-SD-guy]Denial is thinking your going to get that Ocean View McMansion for less than 400K (call me the king of Da Nile), but never having plan B, maybe move a little further inland ???
Just a thought…[/quote]
If a house was worth $400K BEFORE the bubble, and if the bubble has actually burst (it hasn’t – yet), then why shouldn’t a buyer expect to get it at pre-bubble/pre-2001 prices?
Do you really believe that our economy is better today than it was in 1999? I don’t.
I’d say the denial is on the sellers’ side. They seem to think that prices from the bubble period are normal “market” prices. They can’t seem to wrap their heads around the fact that housing prices only rose because of mortgages that could never be paid back.
Who’s in denial?
March 10, 2010 at 12:03 AM #523928CA renter
Participant[quote=Nor-LA-SD-guy]Denial is thinking your going to get that Ocean View McMansion for less than 400K (call me the king of Da Nile), but never having plan B, maybe move a little further inland ???
Just a thought…[/quote]
If a house was worth $400K BEFORE the bubble, and if the bubble has actually burst (it hasn’t – yet), then why shouldn’t a buyer expect to get it at pre-bubble/pre-2001 prices?
Do you really believe that our economy is better today than it was in 1999? I don’t.
I’d say the denial is on the sellers’ side. They seem to think that prices from the bubble period are normal “market” prices. They can’t seem to wrap their heads around the fact that housing prices only rose because of mortgages that could never be paid back.
Who’s in denial?
March 10, 2010 at 12:03 AM #524369CA renter
Participant[quote=Nor-LA-SD-guy]Denial is thinking your going to get that Ocean View McMansion for less than 400K (call me the king of Da Nile), but never having plan B, maybe move a little further inland ???
Just a thought…[/quote]
If a house was worth $400K BEFORE the bubble, and if the bubble has actually burst (it hasn’t – yet), then why shouldn’t a buyer expect to get it at pre-bubble/pre-2001 prices?
Do you really believe that our economy is better today than it was in 1999? I don’t.
I’d say the denial is on the sellers’ side. They seem to think that prices from the bubble period are normal “market” prices. They can’t seem to wrap their heads around the fact that housing prices only rose because of mortgages that could never be paid back.
Who’s in denial?
March 10, 2010 at 12:03 AM #524465CA renter
Participant[quote=Nor-LA-SD-guy]Denial is thinking your going to get that Ocean View McMansion for less than 400K (call me the king of Da Nile), but never having plan B, maybe move a little further inland ???
Just a thought…[/quote]
If a house was worth $400K BEFORE the bubble, and if the bubble has actually burst (it hasn’t – yet), then why shouldn’t a buyer expect to get it at pre-bubble/pre-2001 prices?
Do you really believe that our economy is better today than it was in 1999? I don’t.
I’d say the denial is on the sellers’ side. They seem to think that prices from the bubble period are normal “market” prices. They can’t seem to wrap their heads around the fact that housing prices only rose because of mortgages that could never be paid back.
Who’s in denial?
March 10, 2010 at 12:03 AM #524722CA renter
Participant[quote=Nor-LA-SD-guy]Denial is thinking your going to get that Ocean View McMansion for less than 400K (call me the king of Da Nile), but never having plan B, maybe move a little further inland ???
Just a thought…[/quote]
If a house was worth $400K BEFORE the bubble, and if the bubble has actually burst (it hasn’t – yet), then why shouldn’t a buyer expect to get it at pre-bubble/pre-2001 prices?
Do you really believe that our economy is better today than it was in 1999? I don’t.
I’d say the denial is on the sellers’ side. They seem to think that prices from the bubble period are normal “market” prices. They can’t seem to wrap their heads around the fact that housing prices only rose because of mortgages that could never be paid back.
Who’s in denial?
March 10, 2010 at 6:09 AM #523806blahblahblah
ParticipantIf a house was worth $400K BEFORE the bubble, and if the bubble has actually burst (it hasn’t – yet), then why shouldn’t a buyer expect to get it at pre-bubble/pre-2001 prices?
Is the money worth the same as it used to be in 2000? Is the society the same? I’m not sure on either of those points…
March 10, 2010 at 6:09 AM #523943blahblahblah
ParticipantIf a house was worth $400K BEFORE the bubble, and if the bubble has actually burst (it hasn’t – yet), then why shouldn’t a buyer expect to get it at pre-bubble/pre-2001 prices?
Is the money worth the same as it used to be in 2000? Is the society the same? I’m not sure on either of those points…
March 10, 2010 at 6:09 AM #524384blahblahblah
ParticipantIf a house was worth $400K BEFORE the bubble, and if the bubble has actually burst (it hasn’t – yet), then why shouldn’t a buyer expect to get it at pre-bubble/pre-2001 prices?
Is the money worth the same as it used to be in 2000? Is the society the same? I’m not sure on either of those points…
March 10, 2010 at 6:09 AM #524480blahblahblah
ParticipantIf a house was worth $400K BEFORE the bubble, and if the bubble has actually burst (it hasn’t – yet), then why shouldn’t a buyer expect to get it at pre-bubble/pre-2001 prices?
Is the money worth the same as it used to be in 2000? Is the society the same? I’m not sure on either of those points…
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