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SDEngineer
ParticipantJust looking at the chart surveyor posted. The “V” shaped recovery there (in housing starts) occurred in 1991-1992.
But prices continued to fall (in real – not inflationary adjusted – dollars) until sometime around 1996 or 1997.
As another poster pointed out, the bottom of the housing construction sector (to economists anyway) doesn’t necessarily result in a pricing rebound (and indeed, from previous examples, doesn’t even mean prices will stabilize).
Edit: beaten to the punch by sdrealtor lol
SDEngineer
ParticipantJust looking at the chart surveyor posted. The “V” shaped recovery there (in housing starts) occurred in 1991-1992.
But prices continued to fall (in real – not inflationary adjusted – dollars) until sometime around 1996 or 1997.
As another poster pointed out, the bottom of the housing construction sector (to economists anyway) doesn’t necessarily result in a pricing rebound (and indeed, from previous examples, doesn’t even mean prices will stabilize).
Edit: beaten to the punch by sdrealtor lol
SDEngineer
ParticipantJust looking at the chart surveyor posted. The “V” shaped recovery there (in housing starts) occurred in 1991-1992.
But prices continued to fall (in real – not inflationary adjusted – dollars) until sometime around 1996 or 1997.
As another poster pointed out, the bottom of the housing construction sector (to economists anyway) doesn’t necessarily result in a pricing rebound (and indeed, from previous examples, doesn’t even mean prices will stabilize).
Edit: beaten to the punch by sdrealtor lol
SDEngineer
ParticipantJust looking at the chart surveyor posted. The “V” shaped recovery there (in housing starts) occurred in 1991-1992.
But prices continued to fall (in real – not inflationary adjusted – dollars) until sometime around 1996 or 1997.
As another poster pointed out, the bottom of the housing construction sector (to economists anyway) doesn’t necessarily result in a pricing rebound (and indeed, from previous examples, doesn’t even mean prices will stabilize).
Edit: beaten to the punch by sdrealtor lol
SDEngineer
ParticipantJust looking at the chart surveyor posted. The “V” shaped recovery there (in housing starts) occurred in 1991-1992.
But prices continued to fall (in real – not inflationary adjusted – dollars) until sometime around 1996 or 1997.
As another poster pointed out, the bottom of the housing construction sector (to economists anyway) doesn’t necessarily result in a pricing rebound (and indeed, from previous examples, doesn’t even mean prices will stabilize).
Edit: beaten to the punch by sdrealtor lol
SDEngineer
ParticipantCA Renter….good post, and one I agree with wholeheartedly. A nation made up solely of investors wouldn’t last very long I’m thinking. You’re in good company though, as I understand that Warren Buffett shares pretty much the same viewpoint.
Capitalism is a wonderful force for motivating people to work hard and save money, but it has to be moderated to prevent the mass accumulation of capital in an “investor class” for just that reason, or you wind up with Feudalism by another name (with the capitalists of course as the nobility, and everyone else as their serfs).
Unfortunately, taxation and wealth redistribution on some scale are a necessity given capitalisms inherent tendencies towards this kind of concentration of wealth into an investor class. Sadly, most people are unable to look past their own pocketbook and see that this, in the end, is a benefit to all, and the only way to maintain the system. They just see the money disappearing into the government. But it is a balancing act – you have to maintain enough disparity that most people will work hard to achieve the dream, and CAN achieve the dream if they work hard enough, but not so much that people give up on it as being unattainable. Right now, I think we’re getting close to the “giving up on it” part for a LOT of what used to pass for the middle class.
SDEngineer
ParticipantCA Renter….good post, and one I agree with wholeheartedly. A nation made up solely of investors wouldn’t last very long I’m thinking. You’re in good company though, as I understand that Warren Buffett shares pretty much the same viewpoint.
Capitalism is a wonderful force for motivating people to work hard and save money, but it has to be moderated to prevent the mass accumulation of capital in an “investor class” for just that reason, or you wind up with Feudalism by another name (with the capitalists of course as the nobility, and everyone else as their serfs).
Unfortunately, taxation and wealth redistribution on some scale are a necessity given capitalisms inherent tendencies towards this kind of concentration of wealth into an investor class. Sadly, most people are unable to look past their own pocketbook and see that this, in the end, is a benefit to all, and the only way to maintain the system. They just see the money disappearing into the government. But it is a balancing act – you have to maintain enough disparity that most people will work hard to achieve the dream, and CAN achieve the dream if they work hard enough, but not so much that people give up on it as being unattainable. Right now, I think we’re getting close to the “giving up on it” part for a LOT of what used to pass for the middle class.
SDEngineer
ParticipantCA Renter….good post, and one I agree with wholeheartedly. A nation made up solely of investors wouldn’t last very long I’m thinking. You’re in good company though, as I understand that Warren Buffett shares pretty much the same viewpoint.
Capitalism is a wonderful force for motivating people to work hard and save money, but it has to be moderated to prevent the mass accumulation of capital in an “investor class” for just that reason, or you wind up with Feudalism by another name (with the capitalists of course as the nobility, and everyone else as their serfs).
Unfortunately, taxation and wealth redistribution on some scale are a necessity given capitalisms inherent tendencies towards this kind of concentration of wealth into an investor class. Sadly, most people are unable to look past their own pocketbook and see that this, in the end, is a benefit to all, and the only way to maintain the system. They just see the money disappearing into the government. But it is a balancing act – you have to maintain enough disparity that most people will work hard to achieve the dream, and CAN achieve the dream if they work hard enough, but not so much that people give up on it as being unattainable. Right now, I think we’re getting close to the “giving up on it” part for a LOT of what used to pass for the middle class.
SDEngineer
ParticipantCA Renter….good post, and one I agree with wholeheartedly. A nation made up solely of investors wouldn’t last very long I’m thinking. You’re in good company though, as I understand that Warren Buffett shares pretty much the same viewpoint.
Capitalism is a wonderful force for motivating people to work hard and save money, but it has to be moderated to prevent the mass accumulation of capital in an “investor class” for just that reason, or you wind up with Feudalism by another name (with the capitalists of course as the nobility, and everyone else as their serfs).
Unfortunately, taxation and wealth redistribution on some scale are a necessity given capitalisms inherent tendencies towards this kind of concentration of wealth into an investor class. Sadly, most people are unable to look past their own pocketbook and see that this, in the end, is a benefit to all, and the only way to maintain the system. They just see the money disappearing into the government. But it is a balancing act – you have to maintain enough disparity that most people will work hard to achieve the dream, and CAN achieve the dream if they work hard enough, but not so much that people give up on it as being unattainable. Right now, I think we’re getting close to the “giving up on it” part for a LOT of what used to pass for the middle class.
SDEngineer
ParticipantCA Renter….good post, and one I agree with wholeheartedly. A nation made up solely of investors wouldn’t last very long I’m thinking. You’re in good company though, as I understand that Warren Buffett shares pretty much the same viewpoint.
Capitalism is a wonderful force for motivating people to work hard and save money, but it has to be moderated to prevent the mass accumulation of capital in an “investor class” for just that reason, or you wind up with Feudalism by another name (with the capitalists of course as the nobility, and everyone else as their serfs).
Unfortunately, taxation and wealth redistribution on some scale are a necessity given capitalisms inherent tendencies towards this kind of concentration of wealth into an investor class. Sadly, most people are unable to look past their own pocketbook and see that this, in the end, is a benefit to all, and the only way to maintain the system. They just see the money disappearing into the government. But it is a balancing act – you have to maintain enough disparity that most people will work hard to achieve the dream, and CAN achieve the dream if they work hard enough, but not so much that people give up on it as being unattainable. Right now, I think we’re getting close to the “giving up on it” part for a LOT of what used to pass for the middle class.
SDEngineer
ParticipantMy bad, you’re correct, I was under the mistaken impression he was a Southern Baptist. But, as you pointed out, the Word of Faith nondenoms are pretty extreme. It’s instructive to read the titles of some of his books (note, this is a deliberate list only of the more tinfoil hat books he’s written – he has some typical preacher touchy-feely books in there as well):
“The Invasion of Demons” (1973)
“Like a cleansing fire” (1974)
“The Beginning of the End” (1996) – at this point, Hagee began churning out End-Times prediction books at the rate of more than one per year.
“Day of Deception” (1997)
“Final Dawn Over Jerusalem” (1998)
“From Daniel to Doomsday: The Countdown has Begun” (1999)
“God’s Two-Minute Warning” (in 2000, of course)
“Attack On America New York, Jerusalem, and The Role of Terrorism in the Last Days” (2001) – after this book, looks like he decided God was going to wait a little longer to start Armageddon, though he clearly still believes it’s “soon”.
“Jerusalem Countdown” (2005)SDEngineer
ParticipantMy bad, you’re correct, I was under the mistaken impression he was a Southern Baptist. But, as you pointed out, the Word of Faith nondenoms are pretty extreme. It’s instructive to read the titles of some of his books (note, this is a deliberate list only of the more tinfoil hat books he’s written – he has some typical preacher touchy-feely books in there as well):
“The Invasion of Demons” (1973)
“Like a cleansing fire” (1974)
“The Beginning of the End” (1996) – at this point, Hagee began churning out End-Times prediction books at the rate of more than one per year.
“Day of Deception” (1997)
“Final Dawn Over Jerusalem” (1998)
“From Daniel to Doomsday: The Countdown has Begun” (1999)
“God’s Two-Minute Warning” (in 2000, of course)
“Attack On America New York, Jerusalem, and The Role of Terrorism in the Last Days” (2001) – after this book, looks like he decided God was going to wait a little longer to start Armageddon, though he clearly still believes it’s “soon”.
“Jerusalem Countdown” (2005)SDEngineer
ParticipantMy bad, you’re correct, I was under the mistaken impression he was a Southern Baptist. But, as you pointed out, the Word of Faith nondenoms are pretty extreme. It’s instructive to read the titles of some of his books (note, this is a deliberate list only of the more tinfoil hat books he’s written – he has some typical preacher touchy-feely books in there as well):
“The Invasion of Demons” (1973)
“Like a cleansing fire” (1974)
“The Beginning of the End” (1996) – at this point, Hagee began churning out End-Times prediction books at the rate of more than one per year.
“Day of Deception” (1997)
“Final Dawn Over Jerusalem” (1998)
“From Daniel to Doomsday: The Countdown has Begun” (1999)
“God’s Two-Minute Warning” (in 2000, of course)
“Attack On America New York, Jerusalem, and The Role of Terrorism in the Last Days” (2001) – after this book, looks like he decided God was going to wait a little longer to start Armageddon, though he clearly still believes it’s “soon”.
“Jerusalem Countdown” (2005)SDEngineer
ParticipantMy bad, you’re correct, I was under the mistaken impression he was a Southern Baptist. But, as you pointed out, the Word of Faith nondenoms are pretty extreme. It’s instructive to read the titles of some of his books (note, this is a deliberate list only of the more tinfoil hat books he’s written – he has some typical preacher touchy-feely books in there as well):
“The Invasion of Demons” (1973)
“Like a cleansing fire” (1974)
“The Beginning of the End” (1996) – at this point, Hagee began churning out End-Times prediction books at the rate of more than one per year.
“Day of Deception” (1997)
“Final Dawn Over Jerusalem” (1998)
“From Daniel to Doomsday: The Countdown has Begun” (1999)
“God’s Two-Minute Warning” (in 2000, of course)
“Attack On America New York, Jerusalem, and The Role of Terrorism in the Last Days” (2001) – after this book, looks like he decided God was going to wait a little longer to start Armageddon, though he clearly still believes it’s “soon”.
“Jerusalem Countdown” (2005) -
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