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September 16, 2008 at 3:51 PM in reply to: How’s everyone feeling these days about the economy? #271236September 16, 2008 at 3:51 PM in reply to: How’s everyone feeling these days about the economy? #271247
peterb
ParticipantWe’ve just been through the biggest credit bubble in human history with basically all asset classes going through the roof for the last 4 years or so. Economic history tells us that this will be a horrific unwinding. Some pretty sharp analysts are saying that most assets will stabilize at 50% from their peaks. That makes the median priced RE in CA about $200 and the DOW at 7500. But the real beotch is gonna be getting there. I think that next couple of months unemployment numbers are going to hammer the markets as this will indicate a systemic melt-down beyond RE and the financial markets. Retail will get slaughtered. Just my 2 cents.
September 16, 2008 at 3:51 PM in reply to: How’s everyone feeling these days about the economy? #271288peterb
ParticipantWe’ve just been through the biggest credit bubble in human history with basically all asset classes going through the roof for the last 4 years or so. Economic history tells us that this will be a horrific unwinding. Some pretty sharp analysts are saying that most assets will stabilize at 50% from their peaks. That makes the median priced RE in CA about $200 and the DOW at 7500. But the real beotch is gonna be getting there. I think that next couple of months unemployment numbers are going to hammer the markets as this will indicate a systemic melt-down beyond RE and the financial markets. Retail will get slaughtered. Just my 2 cents.
September 16, 2008 at 3:51 PM in reply to: How’s everyone feeling these days about the economy? #271314peterb
ParticipantWe’ve just been through the biggest credit bubble in human history with basically all asset classes going through the roof for the last 4 years or so. Economic history tells us that this will be a horrific unwinding. Some pretty sharp analysts are saying that most assets will stabilize at 50% from their peaks. That makes the median priced RE in CA about $200 and the DOW at 7500. But the real beotch is gonna be getting there. I think that next couple of months unemployment numbers are going to hammer the markets as this will indicate a systemic melt-down beyond RE and the financial markets. Retail will get slaughtered. Just my 2 cents.
peterb
ParticipantMay be that a short sale is getting close to closing for it? $5000 for two days sounds like they have a buyer lined-up somwehow. Tell your friend to call them back and say they’ll do it for $12K.
peterb
ParticipantMay be that a short sale is getting close to closing for it? $5000 for two days sounds like they have a buyer lined-up somwehow. Tell your friend to call them back and say they’ll do it for $12K.
peterb
ParticipantMay be that a short sale is getting close to closing for it? $5000 for two days sounds like they have a buyer lined-up somwehow. Tell your friend to call them back and say they’ll do it for $12K.
peterb
ParticipantMay be that a short sale is getting close to closing for it? $5000 for two days sounds like they have a buyer lined-up somwehow. Tell your friend to call them back and say they’ll do it for $12K.
peterb
ParticipantMay be that a short sale is getting close to closing for it? $5000 for two days sounds like they have a buyer lined-up somwehow. Tell your friend to call them back and say they’ll do it for $12K.
September 15, 2008 at 11:44 AM in reply to: The end of the world (or at least the US middle class) as we know it…. #270491peterb
ParticipantBottom line is that home equity played a big part in the illusion of wealth in America. I think that was the last illusion available. So now it’s all reality based living. Pay check to pay check for many people. And oh, that pay check aint enough. But pay attention as deflation hits. If demand destruction is bringing down oil, it can bring a lot of things down.
September 15, 2008 at 11:44 AM in reply to: The end of the world (or at least the US middle class) as we know it…. #270726peterb
ParticipantBottom line is that home equity played a big part in the illusion of wealth in America. I think that was the last illusion available. So now it’s all reality based living. Pay check to pay check for many people. And oh, that pay check aint enough. But pay attention as deflation hits. If demand destruction is bringing down oil, it can bring a lot of things down.
September 15, 2008 at 11:44 AM in reply to: The end of the world (or at least the US middle class) as we know it…. #270727peterb
ParticipantBottom line is that home equity played a big part in the illusion of wealth in America. I think that was the last illusion available. So now it’s all reality based living. Pay check to pay check for many people. And oh, that pay check aint enough. But pay attention as deflation hits. If demand destruction is bringing down oil, it can bring a lot of things down.
September 15, 2008 at 11:44 AM in reply to: The end of the world (or at least the US middle class) as we know it…. #270738peterb
ParticipantBottom line is that home equity played a big part in the illusion of wealth in America. I think that was the last illusion available. So now it’s all reality based living. Pay check to pay check for many people. And oh, that pay check aint enough. But pay attention as deflation hits. If demand destruction is bringing down oil, it can bring a lot of things down.
September 15, 2008 at 11:44 AM in reply to: The end of the world (or at least the US middle class) as we know it…. #270778peterb
ParticipantBottom line is that home equity played a big part in the illusion of wealth in America. I think that was the last illusion available. So now it’s all reality based living. Pay check to pay check for many people. And oh, that pay check aint enough. But pay attention as deflation hits. If demand destruction is bringing down oil, it can bring a lot of things down.
September 15, 2008 at 11:44 AM in reply to: The end of the world (or at least the US middle class) as we know it…. #270804peterb
ParticipantBottom line is that home equity played a big part in the illusion of wealth in America. I think that was the last illusion available. So now it’s all reality based living. Pay check to pay check for many people. And oh, that pay check aint enough. But pay attention as deflation hits. If demand destruction is bringing down oil, it can bring a lot of things down.
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