Forum Replies Created
-
AuthorPosts
-
cyphire
Participantprobably true…
cyphire
Participantprobably true…
cyphire
Participantprobably true…
cyphire
ParticipantI agree…. I’m already seeing it.
Costco was somewhat empty compared to usual.
I went into Home Depot (to buy an air conditioner)… They were sold out… And the place was a ghost town.
Last week I went into a Home Depot Expo…. COMPLETELY EMPTY. There were about 7 cars in the parking lot.
I went to WalMart for the first time in my life. Also no Air Conditioners. Few people – and no one in the cafe area.
The spigot is still on – but people are maxing out their cards. The cards are going up in interest rates. As the job creation falls off and more and more layoffs occur it’s going to get ugly.
cyphire
ParticipantI agree…. I’m already seeing it.
Costco was somewhat empty compared to usual.
I went into Home Depot (to buy an air conditioner)… They were sold out… And the place was a ghost town.
Last week I went into a Home Depot Expo…. COMPLETELY EMPTY. There were about 7 cars in the parking lot.
I went to WalMart for the first time in my life. Also no Air Conditioners. Few people – and no one in the cafe area.
The spigot is still on – but people are maxing out their cards. The cards are going up in interest rates. As the job creation falls off and more and more layoffs occur it’s going to get ugly.
cyphire
ParticipantI agree…. I’m already seeing it.
Costco was somewhat empty compared to usual.
I went into Home Depot (to buy an air conditioner)… They were sold out… And the place was a ghost town.
Last week I went into a Home Depot Expo…. COMPLETELY EMPTY. There were about 7 cars in the parking lot.
I went to WalMart for the first time in my life. Also no Air Conditioners. Few people – and no one in the cafe area.
The spigot is still on – but people are maxing out their cards. The cards are going up in interest rates. As the job creation falls off and more and more layoffs occur it’s going to get ugly.
cyphire
ParticipantPeople don’t look at the long term – we aren’t wired that way. The house I am in has gone from 900K to 2.5M since Jun ’03. I am renting at 33% of the cost of owning (ignoring tax savings). Thats right, in 4 years it has almost tripled. The free and easy credit and the constantly increasing home values made this a ride up outside of reality. Now we have reality. You need excellent credit and a substantial down payment to buy a home today.
The job losses in real estate, mortgage brokers, banks, construction, and all the companies which provided their services (secondary impact) have yet to be felt by the economy. The tremors have been happening for months, but the first explosion didn’t hit till this month. With the explosion, lava is coming down. But the villages are still a bit down away from the lava, but it is coming.
You can’t build a huge helicopter to take the village away to safety, you have to ride it out. In your smoldering village!
The main aspect of real estate is that it’s severely illiquid. As the loans reset, and the new folks can’t afford or have the credit for the current loans, it will put constant downward pressure on the market. We are truly living in a house of cards. Housing is not affordable, and it is especially not affordable for the large number of people who see their equity erode, their liabilities grow (and the interest rate), and their job prospects diminish as the fallout comes over the next few years (or more).
The suckers haven’t left the market, but I don’t think that there are enough of them to keep the prices stable. I think that while we have had an explosion in credit stability, the long term prospects are much more severe and as previously stated, there must be a return to quasi-affordability. The only reason that affordability didn’t matter previously was the manipulation of interest rates both by the government, and the policy of adjustable rates. Well guess what… Rates have adjusted! I think that the possibility exists that rates will not go up any more, but will go down slightly… I don’t see any easier answer.. I don’t know… What do you think?
cyphire
ParticipantPeople don’t look at the long term – we aren’t wired that way. The house I am in has gone from 900K to 2.5M since Jun ’03. I am renting at 33% of the cost of owning (ignoring tax savings). Thats right, in 4 years it has almost tripled. The free and easy credit and the constantly increasing home values made this a ride up outside of reality. Now we have reality. You need excellent credit and a substantial down payment to buy a home today.
The job losses in real estate, mortgage brokers, banks, construction, and all the companies which provided their services (secondary impact) have yet to be felt by the economy. The tremors have been happening for months, but the first explosion didn’t hit till this month. With the explosion, lava is coming down. But the villages are still a bit down away from the lava, but it is coming.
You can’t build a huge helicopter to take the village away to safety, you have to ride it out. In your smoldering village!
The main aspect of real estate is that it’s severely illiquid. As the loans reset, and the new folks can’t afford or have the credit for the current loans, it will put constant downward pressure on the market. We are truly living in a house of cards. Housing is not affordable, and it is especially not affordable for the large number of people who see their equity erode, their liabilities grow (and the interest rate), and their job prospects diminish as the fallout comes over the next few years (or more).
The suckers haven’t left the market, but I don’t think that there are enough of them to keep the prices stable. I think that while we have had an explosion in credit stability, the long term prospects are much more severe and as previously stated, there must be a return to quasi-affordability. The only reason that affordability didn’t matter previously was the manipulation of interest rates both by the government, and the policy of adjustable rates. Well guess what… Rates have adjusted! I think that the possibility exists that rates will not go up any more, but will go down slightly… I don’t see any easier answer.. I don’t know… What do you think?
cyphire
ParticipantPeople don’t look at the long term – we aren’t wired that way. The house I am in has gone from 900K to 2.5M since Jun ’03. I am renting at 33% of the cost of owning (ignoring tax savings). Thats right, in 4 years it has almost tripled. The free and easy credit and the constantly increasing home values made this a ride up outside of reality. Now we have reality. You need excellent credit and a substantial down payment to buy a home today.
The job losses in real estate, mortgage brokers, banks, construction, and all the companies which provided their services (secondary impact) have yet to be felt by the economy. The tremors have been happening for months, but the first explosion didn’t hit till this month. With the explosion, lava is coming down. But the villages are still a bit down away from the lava, but it is coming.
You can’t build a huge helicopter to take the village away to safety, you have to ride it out. In your smoldering village!
The main aspect of real estate is that it’s severely illiquid. As the loans reset, and the new folks can’t afford or have the credit for the current loans, it will put constant downward pressure on the market. We are truly living in a house of cards. Housing is not affordable, and it is especially not affordable for the large number of people who see their equity erode, their liabilities grow (and the interest rate), and their job prospects diminish as the fallout comes over the next few years (or more).
The suckers haven’t left the market, but I don’t think that there are enough of them to keep the prices stable. I think that while we have had an explosion in credit stability, the long term prospects are much more severe and as previously stated, there must be a return to quasi-affordability. The only reason that affordability didn’t matter previously was the manipulation of interest rates both by the government, and the policy of adjustable rates. Well guess what… Rates have adjusted! I think that the possibility exists that rates will not go up any more, but will go down slightly… I don’t see any easier answer.. I don’t know… What do you think?
August 19, 2007 at 1:09 PM in reply to: Bush addresses the nation on the economy and the stock market tanks. Irony #78009cyphire
ParticipantIt’s a tough call – but I think the basic problem is that we are the only first world country to not actually provide healthcare to it’s citizens. We have been programmed to believe that if its the government it’s bad. Problem is that the free market system, which also controls our political will (the people are sheep – the lobbyists win) – doesn’t really efficiently handle social issues like health care.
You are correct – the supply problem in the ER is that the uninsured must be taken whether or not they can pay. If they added more ER’s and more doctors, the wait wouldn’t go down, it would just get more volume. This is the fundamental breakdown in the system. If even illegals had access to health care (I’m not advocating it one way or another, just a point) then the ER’s wouldn’t be so crowded. If doctors offices operated like any other business, they wouldn’t have bankers hours (funny – but even banks are open till 7pm and on Sat and Sun – Dr’s shut down at 4pm on Fridays.
We need a socialized health care system. We need to start removing the private element from health care. They are delivering a crap product at the highest price on the planet. And the quality of care sucks. We are ranked 34th in health care for a reason….
To me the biggest crime (I just sold my company in pharma) is that our drug companies hide their profits, go offshore, take illegal tax breaks, lie about their cost and profit percentages as a relation to geography, and give huge discounts to all the other countries except ours (they are the best at paying off our corrupt thieving politicians.)
As long as Canada gets our drugs at 1/2 price and we are paying full we have a lot to be ashamed about.
August 19, 2007 at 1:09 PM in reply to: Bush addresses the nation on the economy and the stock market tanks. Irony #78133cyphire
ParticipantIt’s a tough call – but I think the basic problem is that we are the only first world country to not actually provide healthcare to it’s citizens. We have been programmed to believe that if its the government it’s bad. Problem is that the free market system, which also controls our political will (the people are sheep – the lobbyists win) – doesn’t really efficiently handle social issues like health care.
You are correct – the supply problem in the ER is that the uninsured must be taken whether or not they can pay. If they added more ER’s and more doctors, the wait wouldn’t go down, it would just get more volume. This is the fundamental breakdown in the system. If even illegals had access to health care (I’m not advocating it one way or another, just a point) then the ER’s wouldn’t be so crowded. If doctors offices operated like any other business, they wouldn’t have bankers hours (funny – but even banks are open till 7pm and on Sat and Sun – Dr’s shut down at 4pm on Fridays.
We need a socialized health care system. We need to start removing the private element from health care. They are delivering a crap product at the highest price on the planet. And the quality of care sucks. We are ranked 34th in health care for a reason….
To me the biggest crime (I just sold my company in pharma) is that our drug companies hide their profits, go offshore, take illegal tax breaks, lie about their cost and profit percentages as a relation to geography, and give huge discounts to all the other countries except ours (they are the best at paying off our corrupt thieving politicians.)
As long as Canada gets our drugs at 1/2 price and we are paying full we have a lot to be ashamed about.
August 19, 2007 at 1:09 PM in reply to: Bush addresses the nation on the economy and the stock market tanks. Irony #78156cyphire
ParticipantIt’s a tough call – but I think the basic problem is that we are the only first world country to not actually provide healthcare to it’s citizens. We have been programmed to believe that if its the government it’s bad. Problem is that the free market system, which also controls our political will (the people are sheep – the lobbyists win) – doesn’t really efficiently handle social issues like health care.
You are correct – the supply problem in the ER is that the uninsured must be taken whether or not they can pay. If they added more ER’s and more doctors, the wait wouldn’t go down, it would just get more volume. This is the fundamental breakdown in the system. If even illegals had access to health care (I’m not advocating it one way or another, just a point) then the ER’s wouldn’t be so crowded. If doctors offices operated like any other business, they wouldn’t have bankers hours (funny – but even banks are open till 7pm and on Sat and Sun – Dr’s shut down at 4pm on Fridays.
We need a socialized health care system. We need to start removing the private element from health care. They are delivering a crap product at the highest price on the planet. And the quality of care sucks. We are ranked 34th in health care for a reason….
To me the biggest crime (I just sold my company in pharma) is that our drug companies hide their profits, go offshore, take illegal tax breaks, lie about their cost and profit percentages as a relation to geography, and give huge discounts to all the other countries except ours (they are the best at paying off our corrupt thieving politicians.)
As long as Canada gets our drugs at 1/2 price and we are paying full we have a lot to be ashamed about.
cyphire
ParticipantLol…. But I think it was sincere – also whats the angle on trying to get someone to take over the mortgage… The response I got was:
“thank for corect my writing”
and the first name was Dung (last name omitted but was Vietminh, or Laotian)
cyphire
ParticipantLol…. But I think it was sincere – also whats the angle on trying to get someone to take over the mortgage… The response I got was:
“thank for corect my writing”
and the first name was Dung (last name omitted but was Vietminh, or Laotian)
-
AuthorPosts
