[cr]

$85,000 out of an average of somewhere near $300,000 they did absolutely nothing to earn except happen to own a house during a housing boom.

Things look like they’re falling fast, but I really think we haven’t seen the worst yet. But being done by the end of 2008 is a bit optimistic. The housing factors are bad enough to drag things out for 2-3 years. Add to that a recession and stagflation, and 5 years starts to look more likely.

Don’t forget though that we bailed out the last recession of the 9/11.com era with this housing bubble. Now that both are empty it’s going to be a lot rougher than most people think IMO.

The headline $6 Trillion in wealth is typical sensationlism of MSM. It was never really wealth in the first place.

[cr]

$85,000 out of an average of somewhere near $300,000 they did absolutely nothing to earn except happen to own a house during a housing boom.

Things look like they’re falling fast, but I really think we haven’t seen the worst yet. But being done by the end of 2008 is a bit optimistic. The housing factors are bad enough to drag things out for 2-3 years. Add to that a recession and stagflation, and 5 years starts to look more likely.

Don’t forget though that we bailed out the last recession of the 9/11.com era with this housing bubble. Now that both are empty it’s going to be a lot rougher than most people think IMO.

The headline $6 Trillion in wealth is typical sensationlism of MSM. It was never really wealth in the first place.

[cr]

$85,000 out of an average of somewhere near $300,000 they did absolutely nothing to earn except happen to own a house during a housing boom.

Things look like they’re falling fast, but I really think we haven’t seen the worst yet. But being done by the end of 2008 is a bit optimistic. The housing factors are bad enough to drag things out for 2-3 years. Add to that a recession and stagflation, and 5 years starts to look more likely.

Don’t forget though that we bailed out the last recession of the 9/11.com era with this housing bubble. Now that both are empty it’s going to be a lot rougher than most people think IMO.

The headline $6 Trillion in wealth is typical sensationlism of MSM. It was never really wealth in the first place.

[cr]

$85,000 out of an average of somewhere near $300,000 they did absolutely nothing to earn except happen to own a house during a housing boom.

Things look like they’re falling fast, but I really think we haven’t seen the worst yet. But being done by the end of 2008 is a bit optimistic. The housing factors are bad enough to drag things out for 2-3 years. Add to that a recession and stagflation, and 5 years starts to look more likely.

Don’t forget though that we bailed out the last recession of the 9/11.com era with this housing bubble. Now that both are empty it’s going to be a lot rougher than most people think IMO.

The headline $6 Trillion in wealth is typical sensationlism of MSM. It was never really wealth in the first place.

[cr]

$85,000 out of an average of somewhere near $300,000 they did absolutely nothing to earn except happen to own a house during a housing boom.

Things look like they’re falling fast, but I really think we haven’t seen the worst yet. But being done by the end of 2008 is a bit optimistic. The housing factors are bad enough to drag things out for 2-3 years. Add to that a recession and stagflation, and 5 years starts to look more likely.

Don’t forget though that we bailed out the last recession of the 9/11.com era with this housing bubble. Now that both are empty it’s going to be a lot rougher than most people think IMO.

The headline $6 Trillion in wealth is typical sensationlism of MSM. It was never really wealth in the first place.

[cr]

I wasn’t around in the 70’s but I would agree wages may go up eventually as a result of the higher prices across the board. However, the time frame is the issue. Going into a recession we’re going to lose jobs so any increases anywhere could be more than offset by job losses. When wages finally do rise it will be nowhere near the level of actual inflation we are currently experiencing, and nowehere near enough to stop home prices from plummeting.

It will be interesting to see what Helicopter Boy says about inflation tomorrow.

Sounds like most expect a small, but maybe a final cut. I don’t think we will see the end of thee recession until rates go back up. The dollar and therefore inflation certainly have no hope of turning for the better until that happens either.

[cr]

I wasn’t around in the 70’s but I would agree wages may go up eventually as a result of the higher prices across the board. However, the time frame is the issue. Going into a recession we’re going to lose jobs so any increases anywhere could be more than offset by job losses. When wages finally do rise it will be nowhere near the level of actual inflation we are currently experiencing, and nowehere near enough to stop home prices from plummeting.

It will be interesting to see what Helicopter Boy says about inflation tomorrow.

Sounds like most expect a small, but maybe a final cut. I don’t think we will see the end of thee recession until rates go back up. The dollar and therefore inflation certainly have no hope of turning for the better until that happens either.

[cr]

I wasn’t around in the 70’s but I would agree wages may go up eventually as a result of the higher prices across the board. However, the time frame is the issue. Going into a recession we’re going to lose jobs so any increases anywhere could be more than offset by job losses. When wages finally do rise it will be nowhere near the level of actual inflation we are currently experiencing, and nowehere near enough to stop home prices from plummeting.

It will be interesting to see what Helicopter Boy says about inflation tomorrow.

Sounds like most expect a small, but maybe a final cut. I don’t think we will see the end of thee recession until rates go back up. The dollar and therefore inflation certainly have no hope of turning for the better until that happens either.

[cr]

I wasn’t around in the 70’s but I would agree wages may go up eventually as a result of the higher prices across the board. However, the time frame is the issue. Going into a recession we’re going to lose jobs so any increases anywhere could be more than offset by job losses. When wages finally do rise it will be nowhere near the level of actual inflation we are currently experiencing, and nowehere near enough to stop home prices from plummeting.

It will be interesting to see what Helicopter Boy says about inflation tomorrow.

Sounds like most expect a small, but maybe a final cut. I don’t think we will see the end of thee recession until rates go back up. The dollar and therefore inflation certainly have no hope of turning for the better until that happens either.

[cr]

I wasn’t around in the 70’s but I would agree wages may go up eventually as a result of the higher prices across the board. However, the time frame is the issue. Going into a recession we’re going to lose jobs so any increases anywhere could be more than offset by job losses. When wages finally do rise it will be nowhere near the level of actual inflation we are currently experiencing, and nowehere near enough to stop home prices from plummeting.

It will be interesting to see what Helicopter Boy says about inflation tomorrow.

Sounds like most expect a small, but maybe a final cut. I don’t think we will see the end of thee recession until rates go back up. The dollar and therefore inflation certainly have no hope of turning for the better until that happens either.

[cr]

It’s really only been in the last few months, or even weeks that foreclosures have set new records, and sales have slowed to paces not seen in over a decade.

For those interested in LA:
. . . . . . . . . . . . . . Low……..Mid……High…..Agg.
Month to Month – 5.06% – – 4.41% – – 3.75% – – 4.27%
Year Over Year % 25.34%- – 22.27%- – 13.20% – -19.43%
Year Over Year $ $110k – – $120k – – $85k – – $105k
Loss Since Peak 25.9% – – 24.1% – – 16.5% – – 21.6%

[cr]

It’s really only been in the last few months, or even weeks that foreclosures have set new records, and sales have slowed to paces not seen in over a decade.

For those interested in LA:
. . . . . . . . . . . . . . Low……..Mid……High…..Agg.
Month to Month – 5.06% – – 4.41% – – 3.75% – – 4.27%
Year Over Year % 25.34%- – 22.27%- – 13.20% – -19.43%
Year Over Year $ $110k – – $120k – – $85k – – $105k
Loss Since Peak 25.9% – – 24.1% – – 16.5% – – 21.6%

[cr]

It’s really only been in the last few months, or even weeks that foreclosures have set new records, and sales have slowed to paces not seen in over a decade.

For those interested in LA:
. . . . . . . . . . . . . . Low……..Mid……High…..Agg.
Month to Month – 5.06% – – 4.41% – – 3.75% – – 4.27%
Year Over Year % 25.34%- – 22.27%- – 13.20% – -19.43%
Year Over Year $ $110k – – $120k – – $85k – – $105k
Loss Since Peak 25.9% – – 24.1% – – 16.5% – – 21.6%

[cr]

It’s really only been in the last few months, or even weeks that foreclosures have set new records, and sales have slowed to paces not seen in over a decade.

For those interested in LA:
. . . . . . . . . . . . . . Low……..Mid……High…..Agg.
Month to Month – 5.06% – – 4.41% – – 3.75% – – 4.27%
Year Over Year % 25.34%- – 22.27%- – 13.20% – -19.43%
Year Over Year $ $110k – – $120k – – $85k – – $105k
Loss Since Peak 25.9% – – 24.1% – – 16.5% – – 21.6%

[cr]

It’s really only been in the last few months, or even weeks that foreclosures have set new records, and sales have slowed to paces not seen in over a decade.

For those interested in LA:
. . . . . . . . . . . . . . Low……..Mid……High…..Agg.
Month to Month – 5.06% – – 4.41% – – 3.75% – – 4.27%
Year Over Year % 25.34%- – 22.27%- – 13.20% – -19.43%
Year Over Year $ $110k – – $120k – – $85k – – $105k
Loss Since Peak 25.9% – – 24.1% – – 16.5% – – 21.6%

[Author]

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