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August 28, 2006 at 10:20 AM in reply to: Biggest Drops in 2007 and 2008; housing will fall 50% nominal terms #33679
PerryChase
ParticipantBugs, I enjoy your posts. You said it very well and that’s what I beleive also.
10% interest rate would not surprise me in the least.
ParticipantThere are so many houses but so few residents in that development that the correction gonna be very painful!
ParticipantI think a deal is a deal. The process of buying a house takes long enough for the buyer that he should know what he’s getting into. If he pays a high price, that must mean that there’s something special with the house. I don’t beleive that such a buyer has a case in court.
ParticipantI love powayseller, she’s got strong opinions and not afraid to voice them.
People are uncomfortable with her because they don’t like gloom and doom predictions. However, the more they read her, the more they find her arguements convincing. It’s not too pleasant to hear the bad new so you’re tempted to kill the messenger.
Plus anyone who bought after 2001 stand to loose all of their equity if she’s correct. That’s what they’re really scared of.
Actually, powayseller is doing a favor to everyone for telling the truth like she sees it. She’s got nothing to gain. On the other hand, the real estate professionals want to encourage transactions because that’s their livelyhoods so even if they thought real estate would drop 50%, they would never tell us.
I hope some of the reporters in the national press would read this blog, review the data provided, and tell the public what is really happening. People are still in denial so you have to keep on repeating it for the info to sink in.
ParticipantAmerica Beauty is a great movie. One of my favarites. It’s also a commentary of life in the suburbs. Very telling.
Anxvariety, I’ll watch Dick and Jane on your recommendation.
I don’t have cable but Netflix is great. 🙂 I normally watch TV and surf the Net on my laptop at the same time.
ParticipantI went to my friend’s place for dinner tonight. The more I visit Downtown, the more I like it. The only building that I hate is Cortez Blue. It’s such an ugly building.
I hope that they build all the units so that I have plenty to choose from in a few years. 🙂
ParticipantIt’s absolutely not true that you don’t need language skills to succeed in career. If you’re going to be an executive for a company in China, you’re better off speaking Chinese. If you want to work in Mexico, you’ll be better received if you speak Spanish; plus you’ll be happier in your new home.
It all comes down to money. In USA, corporations don’t have Spanish menu options for nothing. They don’t spend millions staffing Spanish speaking call centers or develop software interfaces in Spanish if they don’t generate incremental revenue.
Personally, whenever I use an ATM, self-serve register, or call center, I always use the Spanish option. I can assure you that when the managers sit down to review their sales data, they look at how many customers chose the Spanish option. The more people choose the Spanish option, the more Spanish speaking staff companies will have to hire (better for Spanish speaking job seekers). Lowes has a call center that you can call to get service in a number of languages. That’s the kind of customer service that’s necessary to succeed in this globalized world.
What if a manager is called upon to head an office in China? He won’t be very happy nor will he do very well in that society if he doesn’t speak the language. Guess who will have no problem relocating to China if the company chooses to move its research center to Shanghai? What if you want to start a company serving Spanish speaking immigrants?
The more languages you speak, the more options you’ll have in the future.
If you speak Spanish you should use it to your advantage — differentiate yourself from non-Spanish speakers. That’s your competitive advantage, in your career and in life. In my view, if you can bring-in more revenue for the company, you should be paid more than English-only speakers. For example, if you can develop software (or write an instruction manual) in English and Spanish, then you’re obviously worth more than an otherwise equally qualified English-only employee.
ParticipantBy reading Chinese philosophy I’ve learned to take things in stride and detach myself from events around me and find my own sense of contentment and happiness.
While I’d like things to work-out my way and I try to influence where I can, I’m perfectly happy sitting back and watching the events unfold. Being a spectator is the best part.
Yeah, real estate will drop. That’s OK by me. Yeah, the war on Iraq is going awry. We’ll only learn the hard way. Like my military friends say, though love is best love.
I can debate issues and mewl them over. But I never take it personally and I sleep perfectly well at night. If my friends don’t agree with me, they are still my friends as long as we treat each other well.
ParticipantI don’t think that most buyers would represent themselves in a transaction. Using a discount broker such as ZipRealty or SD Realtor, and getting a rebate is a good alternative to a full-service broker — just like using a discount stock broker works fine for many.
ParticipantI think that the boomers will go to their graves kicking and screaming. Medical advances will keep them alive longer than their parents. And they’ll use their money as carrots so that their children will take care of them. I don’t see how the boomers can avoid spending their savings. Boomers are already passing their money to the Gen Xers (early inheritance).
In my views the biggest demographic shift will happen in about 30-50 years when the Gen Ys come of age. We’ll have declining population at that time, unless we allow more immigration.
ParticipantIf I had children, I’d want the best education for them. That means the best colleges. Why go for second best?
Living in California, I’d want my kids to be fluent in Spanish. There’s also sports such as soccer and acquiring healthy habits such as eating well. I’d also want them to learn Chinese and spend summers in Asia (China will be a great power and Chinese will be as important as English). They would attend university in Europe, followed by an internship in China, then go on to graduate school on the East Coast. Of course, a well-educated person should speak French and play the piano. Children should be taught good etiquette so they can hold their silverware properly and write proper thank-you letters to relatives. They should also have a good understanding of the arts and history. I believe that a world-aware person is a well-rounded person. Not easy being my children, huh? (I’m only 1/2 kidding) 🙂
That being said, can we have everything that we want? No. So we all we can do is try our best.
ParticipantI was referring to the cross on Mt. Soledad. The Republican Congress acted for no other reason but to preserve the cross undoing almost two decades of due process. If that’s not imposing values, then I don’t know what is.
ParticipantI’ve noticed that intellectually minded people are quite rational and are willing to consider the issues carefully. Ideologues just have faith that their leaders have the right answers to everything. Their lives must be very simple black and white.
I don’t understand anymore how anyone can be Republican and conservative at the same time.
Conservatives support:
– Small government
– Low spending and saving for the rainy days
– Free markets
– No government intrusion into private matters
– No nation building
– Privacy protection
– State Rights
– Freedoms guaranteed by the constitution
– Separation of Church and StateRepublicans support:
– Nation building in Iraq
– Unlimited debt spending
– Power of government to review private records
– Warrantless wiretapping of American citizens
– Prayer in school
– Federal intervention into private family matters
– Bailing out of powerful businesses interests
– Funneling public money to religious organizationsThe Republican Party today is not the party I used to know.
ParticipantRoubini, hot?!
Ok, I read Roubini’s CV. He was born in Turkey but does not speak Turkish. His name is clearly not Italian. He does not speak Arabic so he can’t be Arab. He speaks Farsi and Hebrew so my best guess is that he’s Iranian-Jewish. Or he may not be Jewish at all but learned Hebrew at university in Jerusalem.
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