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denverite
ParticipantThe article is fairly comprehensive but misses a major point. The driving factor behind this whole mess is overstimulated consumption, made possible through inexpensive debt. The whole world bought into this paradigm, as promoted by Greenspan.
My point is that, in addition to the financial displacements typically mentioned, it is possible that a fundamental, secular change might be occuring in the form of responsible consumption (buy what we can afford). The entire consumptive model may have shifted. If this happens, then additional economic/financial disruptions are possible beyond what is currently predicted. This behavior is not assured, but I thought the analysis was worth presenting.
ParticipantThe article is fairly comprehensive but misses a major point. The driving factor behind this whole mess is overstimulated consumption, made possible through inexpensive debt. The whole world bought into this paradigm, as promoted by Greenspan.
My point is that, in addition to the financial displacements typically mentioned, it is possible that a fundamental, secular change might be occuring in the form of responsible consumption (buy what we can afford). The entire consumptive model may have shifted. If this happens, then additional economic/financial disruptions are possible beyond what is currently predicted. This behavior is not assured, but I thought the analysis was worth presenting.
ParticipantThe article is fairly comprehensive but misses a major point. The driving factor behind this whole mess is overstimulated consumption, made possible through inexpensive debt. The whole world bought into this paradigm, as promoted by Greenspan.
My point is that, in addition to the financial displacements typically mentioned, it is possible that a fundamental, secular change might be occuring in the form of responsible consumption (buy what we can afford). The entire consumptive model may have shifted. If this happens, then additional economic/financial disruptions are possible beyond what is currently predicted. This behavior is not assured, but I thought the analysis was worth presenting.
ParticipantThe article is fairly comprehensive but misses a major point. The driving factor behind this whole mess is overstimulated consumption, made possible through inexpensive debt. The whole world bought into this paradigm, as promoted by Greenspan.
My point is that, in addition to the financial displacements typically mentioned, it is possible that a fundamental, secular change might be occuring in the form of responsible consumption (buy what we can afford). The entire consumptive model may have shifted. If this happens, then additional economic/financial disruptions are possible beyond what is currently predicted. This behavior is not assured, but I thought the analysis was worth presenting.
ParticipantMy sense is that most/many of the Piggs are looking at the housing market(s) in isloation from the rest of the economy. IMHO, it seems to me that the byword should be caution. The macro-economic situation is very dire and could get much worse. Aside from national issues, California will have monumental problems of unemployment, bond payout, just to name a few. The big picture is very ominous right now.
ParticipantMy sense is that most/many of the Piggs are looking at the housing market(s) in isloation from the rest of the economy. IMHO, it seems to me that the byword should be caution. The macro-economic situation is very dire and could get much worse. Aside from national issues, California will have monumental problems of unemployment, bond payout, just to name a few. The big picture is very ominous right now.
ParticipantMy sense is that most/many of the Piggs are looking at the housing market(s) in isloation from the rest of the economy. IMHO, it seems to me that the byword should be caution. The macro-economic situation is very dire and could get much worse. Aside from national issues, California will have monumental problems of unemployment, bond payout, just to name a few. The big picture is very ominous right now.
ParticipantMy sense is that most/many of the Piggs are looking at the housing market(s) in isloation from the rest of the economy. IMHO, it seems to me that the byword should be caution. The macro-economic situation is very dire and could get much worse. Aside from national issues, California will have monumental problems of unemployment, bond payout, just to name a few. The big picture is very ominous right now.
ParticipantMy sense is that most/many of the Piggs are looking at the housing market(s) in isloation from the rest of the economy. IMHO, it seems to me that the byword should be caution. The macro-economic situation is very dire and could get much worse. Aside from national issues, California will have monumental problems of unemployment, bond payout, just to name a few. The big picture is very ominous right now.
ParticipantI lived in Encinitas for 30 years and it was/is a very nice place to live. The big economic picture, however, will catch up with that area. Has anyone noticed that stocks are down 25 or so percent, the ecomomy is crumbling, California is in the beginning of a severe recession, unemployment is 7% and going up. The reasons are almost too numerous to mention. Encinitas is not immune to price declines.
Accoding to Zillow, the 92024 area code has dropped only about 11.5%, with the bulk of that in the last year. The trend is decidely DOWN.
ParticipantI lived in Encinitas for 30 years and it was/is a very nice place to live. The big economic picture, however, will catch up with that area. Has anyone noticed that stocks are down 25 or so percent, the ecomomy is crumbling, California is in the beginning of a severe recession, unemployment is 7% and going up. The reasons are almost too numerous to mention. Encinitas is not immune to price declines.
Accoding to Zillow, the 92024 area code has dropped only about 11.5%, with the bulk of that in the last year. The trend is decidely DOWN.
ParticipantI lived in Encinitas for 30 years and it was/is a very nice place to live. The big economic picture, however, will catch up with that area. Has anyone noticed that stocks are down 25 or so percent, the ecomomy is crumbling, California is in the beginning of a severe recession, unemployment is 7% and going up. The reasons are almost too numerous to mention. Encinitas is not immune to price declines.
Accoding to Zillow, the 92024 area code has dropped only about 11.5%, with the bulk of that in the last year. The trend is decidely DOWN.
ParticipantI lived in Encinitas for 30 years and it was/is a very nice place to live. The big economic picture, however, will catch up with that area. Has anyone noticed that stocks are down 25 or so percent, the ecomomy is crumbling, California is in the beginning of a severe recession, unemployment is 7% and going up. The reasons are almost too numerous to mention. Encinitas is not immune to price declines.
Accoding to Zillow, the 92024 area code has dropped only about 11.5%, with the bulk of that in the last year. The trend is decidely DOWN.
ParticipantI lived in Encinitas for 30 years and it was/is a very nice place to live. The big economic picture, however, will catch up with that area. Has anyone noticed that stocks are down 25 or so percent, the ecomomy is crumbling, California is in the beginning of a severe recession, unemployment is 7% and going up. The reasons are almost too numerous to mention. Encinitas is not immune to price declines.
Accoding to Zillow, the 92024 area code has dropped only about 11.5%, with the bulk of that in the last year. The trend is decidely DOWN.
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