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GoUSC
ParticipantI was at Costco last night and it seemed fairly busy…Although I think in a down market you would see MORE people going to Costco to save money versus going to the grocer.
Thoughts?
ParticipantThis is the most inane comment I have heard lately on Piggington. The classic “They aren’t building any more land”. Home prices are a function of supply and demand. If demand falls enough even though the supply is limited, prices will fall. That is exactly what is happening. And is exactly what happened in the early 90’s when home prices all along the coast got HAMMERED…even in “recession proof” La Jolla.
Do some homework before you make nonsensical comments.
ParticipantThis is the most inane comment I have heard lately on Piggington. The classic “They aren’t building any more land”. Home prices are a function of supply and demand. If demand falls enough even though the supply is limited, prices will fall. That is exactly what is happening. And is exactly what happened in the early 90’s when home prices all along the coast got HAMMERED…even in “recession proof” La Jolla.
Do some homework before you make nonsensical comments.
ParticipantThis is the most inane comment I have heard lately on Piggington. The classic “They aren’t building any more land”. Home prices are a function of supply and demand. If demand falls enough even though the supply is limited, prices will fall. That is exactly what is happening. And is exactly what happened in the early 90’s when home prices all along the coast got HAMMERED…even in “recession proof” La Jolla.
Do some homework before you make nonsensical comments.
ParticipantI will give a quick two sense (pun intended)…While recessions have gotten shorter if you look at the general way our economy has operated over the past 50 years you see that it has moved into a different paradigm if you will (I hate that word). We have become a country of:
1. Personal Consumption
2. Job market based on Finance & Service
3. Personal Debt
4. Government Debt
5. Net importer of basically everythingI feel that we are coming to a head here and everything has piled up and the whole house of cards is teetering on the brink of one mega-collapse. Maybe a little too much doom & gloom but really…how long can debt driven consumption last without self-imploding? The big worry is that the world is now looking at the US with suspicious eyes and might not be so inclined to fund our debt anymore. If/when that happens in force we are in for a world of hurt.
…and I am taking my EU passport and moving somewhere else…
ParticipantI will give a quick two sense (pun intended)…While recessions have gotten shorter if you look at the general way our economy has operated over the past 50 years you see that it has moved into a different paradigm if you will (I hate that word). We have become a country of:
1. Personal Consumption
2. Job market based on Finance & Service
3. Personal Debt
4. Government Debt
5. Net importer of basically everythingI feel that we are coming to a head here and everything has piled up and the whole house of cards is teetering on the brink of one mega-collapse. Maybe a little too much doom & gloom but really…how long can debt driven consumption last without self-imploding? The big worry is that the world is now looking at the US with suspicious eyes and might not be so inclined to fund our debt anymore. If/when that happens in force we are in for a world of hurt.
…and I am taking my EU passport and moving somewhere else…
ParticipantI will give a quick two sense (pun intended)…While recessions have gotten shorter if you look at the general way our economy has operated over the past 50 years you see that it has moved into a different paradigm if you will (I hate that word). We have become a country of:
1. Personal Consumption
2. Job market based on Finance & Service
3. Personal Debt
4. Government Debt
5. Net importer of basically everythingI feel that we are coming to a head here and everything has piled up and the whole house of cards is teetering on the brink of one mega-collapse. Maybe a little too much doom & gloom but really…how long can debt driven consumption last without self-imploding? The big worry is that the world is now looking at the US with suspicious eyes and might not be so inclined to fund our debt anymore. If/when that happens in force we are in for a world of hurt.
…and I am taking my EU passport and moving somewhere else…
ParticipantAs stated above, El Cortez is not a real good indicator because of special circumstances related to this project. IE there are several construction defect lawsuits that have been in process along with the construction of a new tower that will essentially destroy the views. So yes it’s the first 50% reduction but not exactly reflective of the rest of the market (don’t worry, they will catch up).
Mark
ParticipantAs stated above, El Cortez is not a real good indicator because of special circumstances related to this project. IE there are several construction defect lawsuits that have been in process along with the construction of a new tower that will essentially destroy the views. So yes it’s the first 50% reduction but not exactly reflective of the rest of the market (don’t worry, they will catch up).
Mark
ParticipantAs stated above, El Cortez is not a real good indicator because of special circumstances related to this project. IE there are several construction defect lawsuits that have been in process along with the construction of a new tower that will essentially destroy the views. So yes it’s the first 50% reduction but not exactly reflective of the rest of the market (don’t worry, they will catch up).
Mark
August 17, 2007 at 3:17 PM in reply to: Are we gonna experience the same Japanese Housing Burst at 1991? #77186ParticipantI make an effort to not buy things produced in China. Case in point, I am in the market for a tennis racket. Well the ONLY and I mean ONLY racquet manufacturer that makes rackets out of China is Yonex which are made in Japan in their own factory. EVERY MODEL from EVERY OTHER MANUFACTURER is made in China. Unbelievable. Other examples is that I try to purchase New Balance shoes made in the US and my dress shoes are all made in Italy or the US.
Is definately puts a ding on the pocket book but I feel better for it.
August 17, 2007 at 3:17 PM in reply to: Are we gonna experience the same Japanese Housing Burst at 1991? #77307ParticipantI make an effort to not buy things produced in China. Case in point, I am in the market for a tennis racket. Well the ONLY and I mean ONLY racquet manufacturer that makes rackets out of China is Yonex which are made in Japan in their own factory. EVERY MODEL from EVERY OTHER MANUFACTURER is made in China. Unbelievable. Other examples is that I try to purchase New Balance shoes made in the US and my dress shoes are all made in Italy or the US.
Is definately puts a ding on the pocket book but I feel better for it.
August 17, 2007 at 3:17 PM in reply to: Are we gonna experience the same Japanese Housing Burst at 1991? #77332ParticipantI make an effort to not buy things produced in China. Case in point, I am in the market for a tennis racket. Well the ONLY and I mean ONLY racquet manufacturer that makes rackets out of China is Yonex which are made in Japan in their own factory. EVERY MODEL from EVERY OTHER MANUFACTURER is made in China. Unbelievable. Other examples is that I try to purchase New Balance shoes made in the US and my dress shoes are all made in Italy or the US.
Is definately puts a ding on the pocket book but I feel better for it.
Participantone_muggle
All bets are off on the market imho. I am going to continue to hold my shorts in financial and the index because I think there is more blood to come over the next month. I will try to get out of them before the FED meets though.
It’s just too volatile to really gain any strong opinions on the market…
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