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ParticipantQuick follow up-
I just read in the paper the # of lost homes in SD is 655.To put that in perspective I did a quick search and found that in October of ’06 3,282 homes were sold in the county, down 21% from 4,155 12mos prior.
The current number of homes lost is ~20% of last October’s monthly sales volume.
ParticipantQuick follow up-
I just read in the paper the # of lost homes in SD is 655.To put that in perspective I did a quick search and found that in October of ’06 3,282 homes were sold in the county, down 21% from 4,155 12mos prior.
The current number of homes lost is ~20% of last October’s monthly sales volume.
ParticipantRegarding fires and the effect on housing costs/supply/demand:
I think the fires in all of southern California will end up driving some people out of the area. Let’s assume the majority of people in danger aren’t facing foreclosure; they are seeing values decline and some may still be able to sell at a higher price than they paid. Those facing resetting ARM’s are probably more likely, but even those who aren’t may have job affordability problems with soaring costs living, and just need the last straw to say adios.
It would take a lot more destroyed homes for this to reduce the 11 months supply on hand to drive prices up.
Not to mention, in all the areas where houses were close to fires do you thinkthe average emotion-based financial descision-maker would go buy anytime soon?
ParticipantRegarding fires and the effect on housing costs/supply/demand:
I think the fires in all of southern California will end up driving some people out of the area. Let’s assume the majority of people in danger aren’t facing foreclosure; they are seeing values decline and some may still be able to sell at a higher price than they paid. Those facing resetting ARM’s are probably more likely, but even those who aren’t may have job affordability problems with soaring costs living, and just need the last straw to say adios.
It would take a lot more destroyed homes for this to reduce the 11 months supply on hand to drive prices up.
Not to mention, in all the areas where houses were close to fires do you thinkthe average emotion-based financial descision-maker would go buy anytime soon?
ParticipantRegarding fires and the effect on housing costs/supply/demand:
I think the fires in all of southern California will end up driving some people out of the area. Let’s assume the majority of people in danger aren’t facing foreclosure; they are seeing values decline and some may still be able to sell at a higher price than they paid. Those facing resetting ARM’s are probably more likely, but even those who aren’t may have job affordability problems with soaring costs living, and just need the last straw to say adios.
It would take a lot more destroyed homes for this to reduce the 11 months supply on hand to drive prices up.
Not to mention, in all the areas where houses were close to fires do you thinkthe average emotion-based financial descision-maker would go buy anytime soon?
ParticipantSan Diego might be the last place someone would want one of these.
ParticipantSan Diego might be the last place someone would want one of these.
October 19, 2007 at 3:23 PM in reply to: Employment is down and so is early stock trading ` 200+ points…. #90217ParticipantNostra-
Hindsight is always 20/20 but you can’t be too unhappy with those gains. I’m getting ready to start doing some trading on my own and was wondering what broker you use, and how you like them?On the DOW, it sounds like the bulls are all but guaranteeing a FED rate cut the end of the month, which to me is pathetic. These guys are so short-sighted to think that is the answer, when we know the fallout will be higher prices, higher core and actual inflation, which will lead to decreased spending and further weakening the dollar.
Why not raise rates, flush this “credit crunch” out and give people some incentive to put money back in US savings? Meh, that’s too logical.
October 19, 2007 at 3:23 PM in reply to: Employment is down and so is early stock trading ` 200+ points…. #90228ParticipantNostra-
Hindsight is always 20/20 but you can’t be too unhappy with those gains. I’m getting ready to start doing some trading on my own and was wondering what broker you use, and how you like them?On the DOW, it sounds like the bulls are all but guaranteeing a FED rate cut the end of the month, which to me is pathetic. These guys are so short-sighted to think that is the answer, when we know the fallout will be higher prices, higher core and actual inflation, which will lead to decreased spending and further weakening the dollar.
Why not raise rates, flush this “credit crunch” out and give people some incentive to put money back in US savings? Meh, that’s too logical.
October 19, 2007 at 1:14 PM in reply to: Employment is down and so is early stock trading ` 200+ points…. #90187ParticipantWell, you did pretty good, but look at the drop today!
Stocks Plunge Nearly 375 on Recession Fears
14,100 to 13,500 in 5 days. What will the bulls say to that?
October 19, 2007 at 1:14 PM in reply to: Employment is down and so is early stock trading ` 200+ points…. #90198ParticipantWell, you did pretty good, but look at the drop today!
Stocks Plunge Nearly 375 on Recession Fears
14,100 to 13,500 in 5 days. What will the bulls say to that?
ParticipantThanks RB.
I’m really just want something that I can put my savings into, and not worry about. Wishful thinking right? If I was confident stocks would return 10% a year I’d leave it in there, but I personally am not that optimistic, even before weeks like this one.
What do you use to trade your funds? I’m certainly open to other recommendations.
Has anyone here invested in any other currencies outside the Euro, Yen, or Pound? What about Eastern Europe, South America, or even Mexico? How has that done?
ParticipantThanks RB.
I’m really just want something that I can put my savings into, and not worry about. Wishful thinking right? If I was confident stocks would return 10% a year I’d leave it in there, but I personally am not that optimistic, even before weeks like this one.
What do you use to trade your funds? I’m certainly open to other recommendations.
Has anyone here invested in any other currencies outside the Euro, Yen, or Pound? What about Eastern Europe, South America, or even Mexico? How has that done?
ParticipantShort of visiting Credit Suisse in Zurich, is there a way online to open a Swiss account and convert US$ to Euros?
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