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Eugene
Participantthe idiotic FOMC appears to have chosen the “print money” approach to this economic crisis (and to the larger problem of America’s excessive foreign debt)
Correction.
FOMC chose to appear to print their way out of this economic crisis.
The runup of gold is not justified by the amount of money that was printed thus far (which is basically zero).
Furthermore, there are some substantial limitations to how much the Fed CAN print unless ECB agrees to print money too which they seem to be reluctant to do.
Finally, global recession will dampen the demand for gold jewelry. Especially in China and India, and jewelry demand is something like 60-70% of total gold demand.
I think it’s a good time to start reducing your exposure to gold. Today it’s at $905. If it hits $1000, I’m going to cash out completely.
ParticipantI know a guy who bought a house for 590k in ’06. Throughout most of ’07, zillow was showing that his house was worth more than he paid for it.
In the last month, zillow estimate dropped from 580k to 500k, and the entire graph was revised (so it does not even say any more that the house was worth 580k recently).
To paint a broader picture: his next-door neighbor sold his house (30% more footage) for 585k; and a house very much like his across the street was just listed for 460k; and there are a couple of SFR listings in the zip code for high 300’s.
I wonder if he thinks that zillow is too low.
ParticipantI know a guy who bought a house for 590k in ’06. Throughout most of ’07, zillow was showing that his house was worth more than he paid for it.
In the last month, zillow estimate dropped from 580k to 500k, and the entire graph was revised (so it does not even say any more that the house was worth 580k recently).
To paint a broader picture: his next-door neighbor sold his house (30% more footage) for 585k; and a house very much like his across the street was just listed for 460k; and there are a couple of SFR listings in the zip code for high 300’s.
I wonder if he thinks that zillow is too low.
ParticipantI know a guy who bought a house for 590k in ’06. Throughout most of ’07, zillow was showing that his house was worth more than he paid for it.
In the last month, zillow estimate dropped from 580k to 500k, and the entire graph was revised (so it does not even say any more that the house was worth 580k recently).
To paint a broader picture: his next-door neighbor sold his house (30% more footage) for 585k; and a house very much like his across the street was just listed for 460k; and there are a couple of SFR listings in the zip code for high 300’s.
I wonder if he thinks that zillow is too low.
ParticipantI know a guy who bought a house for 590k in ’06. Throughout most of ’07, zillow was showing that his house was worth more than he paid for it.
In the last month, zillow estimate dropped from 580k to 500k, and the entire graph was revised (so it does not even say any more that the house was worth 580k recently).
To paint a broader picture: his next-door neighbor sold his house (30% more footage) for 585k; and a house very much like his across the street was just listed for 460k; and there are a couple of SFR listings in the zip code for high 300’s.
I wonder if he thinks that zillow is too low.
ParticipantI know a guy who bought a house for 590k in ’06. Throughout most of ’07, zillow was showing that his house was worth more than he paid for it.
In the last month, zillow estimate dropped from 580k to 500k, and the entire graph was revised (so it does not even say any more that the house was worth 580k recently).
To paint a broader picture: his next-door neighbor sold his house (30% more footage) for 585k; and a house very much like his across the street was just listed for 460k; and there are a couple of SFR listings in the zip code for high 300’s.
I wonder if he thinks that zillow is too low.
ParticipantAtlanta numbers are for 2006 and SD numbers are for 1999.
ParticipantAtlanta numbers are for 2006 and SD numbers are for 1999.
ParticipantAtlanta numbers are for 2006 and SD numbers are for 1999.
ParticipantAtlanta numbers are for 2006 and SD numbers are for 1999.
ParticipantAtlanta numbers are for 2006 and SD numbers are for 1999.
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