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lostkitty
ParticipantWe put our money…. into our kids’ cello/violin/piano lessons! Plus all their sports….
Actually, we have an excellent investment guy that takes care of it all for us/with us. I couldnt say at this point – it is more my husband’s fascination (although the more I visit here and the more you post – the more interested in economics – personal and global – that I have become – really… I thank you greatly for your sharing of info – you should be a teacher…). I have not been shopping around for places to put any big lump sum because unlike you, we havent sold our home. I dont think we will either. Luckily things are stable here. Upstate NY grows slowly, not maniacally.
I had been toying with the idea of returning to San Diego – I do love it there and my family is all there. My kids would have instant friends and cousins all in T.Pines, etc, however, this site has changed my views completely. I am thinking sitting safe for a good long while is more to my liking and better for my family. The schools are absolutely amazing – weather cold in winter, but beautiful. Our home is gorgeous, and with the right car and warm clothes, none of the weather factors matter anyway. it is so beautiful that one can get distracted just driving around ones own neighborhood as the seasons change.
ParticipantTIMELINE OF Great Depression copied from websites (with current-day parallels in parenthesis)
1920s:
During World War I, federal spending grows three times larger than tax collections. When the government cuts back spending to balance the budget in 1920, a severe recession results. However, the war economy invested heavily in the manufacturing sector, and the next decade will see an explosion of productivity… although only for certain sectors of the economy. (Iraq War spending and current record deficits)
An average of 600 banks fail each year. (possible, soon to be banking/mortgage collapse)
Agricultural, energy and coal mining sectors are continually depressed. Textiles, shoes, shipbuilding and railroads continually decline.
The value of farmland falls 30 to 40 percent between 1920 and 1929.
Organized labor declines throughout the decade. The United Mine Workers Union will see its membership fall from 500,000 in 1920 to 75,000 in 1928. The American Federation of Labor would fall from 5.1 million in 1920 to 3.4 million in 1929.
“Technological unemployment” enters the nation’s vocabulary; as many as 200,000 workers a year are replaced by automatic or semi-automatic machinery.
Over the decade, about 1,200 mergers will swallow up more than 6,000 previously independent companies; by 1929, only 200 corporations will control over half of all American industry. (out-sourcing labor abroad)By the end of the decade, the bottom 80 percent of all income-earners will be removed from the tax rolls completely. Taxes on the rich will fall throughout the decade.
By 1929, the richest 1 percent will own 40 percent of the nation’s wealth. The bottom 93 percent will have experienced a 4 percent drop in real disposable per-capita income between 1923 and 1929.
The middle class comprises only 15 to 20 percent of all Americans.Individual worker productivity rises an astonishing 43 percent from 1919 to 1929. But the rewards are being funneled to the top: the number of people reporting half-million dollar incomes grows from 156 to 1,489 between 1920 and 1929, a phenomenal rise compared to other decades. But that is still less than 1 percent of all income-earners.
(Yikes.)
ParticipantMy ‘B-E-L-I-E-V-E’ post was in reference to your constant misspelling of the word. It had nothing to do with powayseller.
ParticipantWhat the…?
ParticipantI think the stock market comparison is ludicrous. Buying a home for your family and buying some stocks are not the same at all.
If you re-read my post, I did not in any way suggest that realtors are holding guns to people’s heads.
I think the shifty loans made this mess possible/ realtors facilitated it. However, I maintain that, for me anyway, it would be difficult to sell a property TODAY in San Diego knowing that the forecast is grim.
ParticipantYes, while it is true that some listings ARE selling… Selling them at these prices is akin to selling a shirt at Nordstrom’s today that you know will be on-sale next week for half-off. Must be difficult to do with a clear conscience. Granted, they come looking for you, and you are just doing your job, but still……
ParticipantI think it must be something about the profession that causes the unease… I started a FSBO newspaper a while back in a town my husband and I lived in briefly. We hadnt owned our home long and all the profit of the sale would have gone straight to a realtor. We were a young new couple (with baby) and I wanted to preserve our meager profits. I thought, ‘If only there were an auto-trader-type for homes.’ (Turns out there were similar businesses elsewhere in the country, just not where we were. This was pre-internet). So, I called all the other FSBO in the regular newspaper, went and took photos, and had my first paper out in 30 days. The local realtors went bananas!!!!!! Phone calls, rude looks at the grocery stores… Luckily I was VERY young, and they really couldnt do too much damage to me personally. I let it roll off (and i was moving anyway). Still, life lesson learned… dont mess with the realtors!
Incidentally i sold my house immediately, and also the business soon after!!! it is still in operation today, a more than a decade later.
Participant“Any decent agent knows that and relies on the numbers their buyers tell them they are comfortable with not what they qualify for.”
I can assure you from my own moving experiences – that far too many of them do not.
ParticipantWelcome back Powayseller! : ) Happy to be reading your pithy comments yet again.
May 10, 2006 at 4:09 AM in reply to: New Index Idea or “How to keep an unemployed appraiser busy.” #25118ParticipantBrubaker-
There are no family-sized “started homes” to buy near the coast. If your take on the situation were accurate, then we wouldnt be seeing the huge inventory increases in Rancho Santa Fe, Coronado, Solana Beach, Del Mar, Carmel Valley either. There arent enough “rich people” to buy all these homes…
ParticipantSome of us are just ignoring him as Rich suggested. This whole site has been considerably less interesting since powayseller stopped adding so much information to it. I used to feel like I learned something everytime I logged onto the site.
ParticipantPowayseller has started 60+ forum topics which we all enjoyed reading and replying to.
How can she stay on board and ignore him when he keeps reiterating that he “knows who she is”? If you read her posts, she tried very hard to “take the high road” with him at first.
ParticipantB-e-l-i-e-v-e
ParticipantOoops, meant to say “you could have renamed…” in the above post. I’m sure all you brilliant people understood anyway.
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