Forum Replies Created
-
AuthorPosts
-
The-Shoveler
ParticipantNor_LA-Temcu-SD-Guy
Yep it’s not like affordability has anything to do with it.
ParticipantNor_LA-Temcu-SD-Guy
I posted this on another thread but it seems to go well with this one,
You Guy’s see the Cover of Business week .
The whole cover dedicated to it. “HOW TOXIC IS YOUR MORTGAGE” Had this snake wrapped around this house squeezing it.This should start some PANIC !!!
ParticipantNor_LA-Temcu-SD-Guy
Ho Man , you Guy’s see the Cover of Business week !!!
Just got back from the super market. The whole cover dedicated to it. “HOW TOXIC IS YOUR MORTGAGE” Had this snake wrapped around this house squeezing it.This should start some PANIC !!!
ParticipantNor_LA-Temcu-SD-Guy
Ho Man , you Guy’s see the Cover of Business week !!!
Just got back from the super market. The whole cover dedicated to it. “HOW TOXIC IS YOUR MORTGAGE” Had this snake wrapped around this house squeezing it.This should start some PANIC !!!
ParticipantNor_LA-Temcu-SD-Guy
Ill be dammed, I could have been in that article.
I commute from Temecual to North L.A. twice a week.
Work from home and stay with friends during the work week.
Hey it happens.
September 6, 2006 at 9:17 AM in reply to: Roubini: How Bearish Does The Stock Market Get During a Recession? 28% Down…or Growling in Bearishness #34511ParticipantNor_LA-Temcu-SD-Guy
OK to be fair, I sold My Valencia house in December 2004, thinking that the crash would come in 3Q 2005 resession soon after. I also sold my Stocks in January 2005, and they are just about where they were then now so not up, not down (Not bad for me). So maybe I was off a year (or so we will see).
Sorry Sold my stocks January 2006, and they are about in the same place (price) now as then.
September 6, 2006 at 5:53 AM in reply to: Roubini: How Bearish Does The Stock Market Get During a Recession? 28% Down…or Growling in Bearishness #34499ParticipantNor_LA-Temcu-SD-Guy
Heck, I have been saying for 3 years that when the housing market goes it will take the whole economy with it. (The housing market is the economy these days).
Damm Can I get super star status too ????
ParticipantNor_LA-Temcu-SD-Guy
Hey why don’t you go to that “Is the Boom going Bust? Seminar at UC Riverside”
I am sure they would love to have YOU there !!!
ParticipantNor_LA-Temcu-SD-Guy
Just My two cents as well,
I think there is no end to demand, just the price needs to be reasonable, the faster we get back to 2003 (if and when it occurs) prices the better it will be for everyone, then it can move up at 5% a year and everone will be happy, Realtors will sell again, people will be able to buy (and eat too), Employers will attract workers etc ….
If it is a long slow decline, it will help no one.
ParticipantNor_LA-Temcu-SD-Guy
Don’t know anyone moving here (besides me) I am a sofware engineer from L.A. (still work in L.A. will buy in SD or Ventura what ever crashes first). I own in Temecula (bought in 2002 will not sell), My wife and I drive around looking at open houses in SD (as a hobby, I know weird). I see a lot of sellers planning to move out of state (same in OC as well).
See (in the last two years) a lot of empty houses 50% it seems of open houses.
ParticipantNor_LA-Temcu-SD-Guy
Sounded like a written Guarantee to me !!
ParticipantNor_LA-Temcu-SD-Guy
The changes to CPI in 1995 link and another link How Greenspan influenced it.
http://www.cbo.gov/showdoc.cfm?index=31&sequence=5
http://66.102.7.104/search?q=cache:RDOftaVzhe0J:research.stlouisfed.org/publications/review/97/05/9705ch.pdf+Greenspan+changed+CPI+change+1995&hl=en&gl=us&ct=clnk&cd=7ParticipantNor_LA-Temcu-SD-Guy
OK I still think I read it somewhere that Greenspan changed it as well, but I think the big change was in 1983 (CPI Calculated).
http://themessthatgreenspanmade.blogspot.com/2005/10/home-ownership-costs-and-core.html
http://www.tradingacademy.com/lessons/lessons20051017.shtm
It is common knowledge that the homeownership component of the CPI consists of owner’s equivalent rent instead of the real cost of homeownership. As described in this New York Times article, this was done back in 1983, for what some would say were dubious reasons:
Until 1983, the bureau measured housing inflation by looking at what it cost to buy and own homes, considering factors like house prices, mortgage interest costs and property taxes. But given the shifts in interest rates and housing prices, those measures could show big bounces from month to month. Besides, homes are a strange hybrid of a consumable good and a long-term investment. As part of a long-running evaluation, the bureau wanted to “separate out the investment component from the consumption component” of the housing market, said Patrick C. Jackman, an economist at the bureau.
Not coincidentally, taking home prices out of inflation reporting seems to have had a very calming effect on reported inflation,
ParticipantNor_LA-Temcu-SD-Guy
1995 I think is when Greenspand Orchestrated the one (and only) soft landing is history I believe, I think he achived this by changing the way CPI is calculated which some now blame on the bubble economy we have been experiencing ever sence.
At least that is the way I understand it.
-
AuthorPosts