Hi to all,
It’s just a shame that we don’t operate in that consumer durables market John
Yes, but if the rest of the economy does well, it will help pull up the
housing slump, as well as showing that consumer confidences is still strong.
I hate to be a wet blanket here but this optimism may be misplaced.
The $US dollar is still at a very low value. Currently 5% above recent lows.
Yes that spurs exports but raised prices for imported goods.
Can you say inflation?
The housing sector is very pervasive in our economy and we still have a lot to flush through the system in terms of poorly performing home mortgages held by the financial institutions.
Can you say a lot of ugly is still ahead?
The “stimulus package” had an effect but what will prop up consumer spending next?
Maybe more “stimulus packages”
Can you say increased federal debt and continued dollar decline and with it more inflation?
In short, we are doing all the wrong things with the silly hope that somehow we will escape the consequences.
Good luck to us all.
Wow! pop out the Champaign.
Lets all vote for Bush again.
John, I don’t know what you’re smoking but the CCI is far from strong despite showing a small gain last month:
Obama can only make it worse Bob.
Promises to raise taxes
Promises to provide "affordable " healthcare
Promises to curb carbon emissions
Promises to make college more “affordable”
Promises alternative energy solutions
Same old liberal clap trap.
Trust us we know what we’re doing.
McCain can only make it worse Bob.
Promises NOT to raise taxes (watch his lips)
Promises **NOT **to provide "affordable " healthcare
Promises NOT to curb carbon emissions (who needs clean air anyway?)
Promises to make college more LESS “affordable”
Promises NOT TO SEEK alternative energy solutions (Hell we’ll just print more greenbacks to cover more foreign oil)
Same old GOP clap trap.
Trust us we know what we’re doing.:mrgreen:
Well in that entire list , they ar all positives.
Except the one about raising taxes, and since my income is below $227,000 this is not a problem.
Mike , does it ever get tiring defending the rich?
Either you are ,or you are a wanna be.
We can fight all we want but ,Republican or Democrat, there is no going back to the wild west of everyone for themselves.
Even under the precious Republican banner your rights have melted, more than you realize.
Remember the Christian value of you get what you give?
The Republicans are far from Libertarian in their viewpoints.
At least in voting Democrat we can repair some of the hatred that was directed towards our once great Nation.
To see us slide down to the level of uneducated thugs (19th) in world education,and meet so many suffering on a personal level, from losing jobs , to not being able to afford health care has me sick,though I also can’t afford a trip to the Doctor.
Change is inevitable,and it may be time to embrase a better future , rather than living in the past.
What happens to the economy is often predictated by perception , and McCain would only send the USA in to a long isolated slumber.
Whether or not you like him, it may be very important for the DEM to take office ,for optimisim that is needed if we are to succeed in turning course, and save this sinking ship.
My friend Gerry, our choices simply suck. Period.
That’s the trouble Bob, the course ahead is murky at best and Obama is not equipped to handle the helm.
That’s the trouble Bob, the course ahead is murky at best and Obama is not equipped to handle the helm/quote]
…and neither is McCain.
The truth of the matter is, no one enters the office “qualified”. That is why the issue of character is so desperately important.
For 13 days in October of 1962, the world almost ended. The decision to respond to Russian missiles in Cuba rested on the shoulders of one man whose military advisors and political allies were pushing him to a decision that would result in nuclear war.
Alone and against the advice of those who were “qualified”…and with the support of his brother, JFK chose a path that allowed the Russians to “save face” and withdraw their weapons.
It is for those moments we should consider the character and courage of the person we choose to lead us.
IMO, McCain is a known loss.
And Obama is a total unkown Jim:-(
We simply don’t know what the man is made of.
We do know the policies and type of government his party supports.
He’s a snake oil salesmen selling the magic cure called “change”
I’ll second that!
Mike, now that we can agree on, and we all know that what they say during campaining has little effect on what they’ll do or not do once in office.
Here in Florida the truth is something different. We were selling homes to investors utilizing liar-loans which drove the price of a standard home over $300K, the net-net effect now under stricter lending practices of 20% down, good credit score and verifiable income does not provide for too many legitimate buyers.
As a matter of fact Florida does not have the job base to allow for many of these houses to be sold. The price of an upper middle class home in 2001 when I moved here was under $200K at the peak those homes were selling for over $400K. So in conclusion the homes here in Florida will continue to fall as long as job & salary growth remains depressed.
Back in 2001 everyone was optimistic, today when I inspect a home it is either vacant or the sellers are planning to move out of state if they can just sell, this is what happens in boom-&-bust cycles, not unlike what occurred in Dallas & Houston in the 80’s.
Florida like California is already turning around. California # of sales is up this month. Now as for 20% down, if the prices drop back down to $200K from $400K level mentioned in Joe’s post, the down payment requirement cuts in 1/2 too. Housing is becoming more affordable despite the more strict borrowing requirements.
If you can believe Kramer on mad money .we will hit bottom next summer.
P.S If I must continue moving and I have a choice between 2 doors,with one leading to certain death on the right, I will chose the left.
Yes it is unknown , but life is a gamble .
Kramer incorrectly makes that prediction using the stock price of 5 or so publicly traded new home building companies. His thinking is that their high was 6 months ahead of the actual market peak and so their low is 6 months to a year ahead of the actual market bottom.
He might be correct for new housing, I’d say more like 3 years… but that has nothing to do with the 11.5 month inventory of pre-existing homes on the market now, ready to sell, and doens’t include the big factor… 850,000 new households are being formed every year in the U.S.
Demand is growing, prices are falling, inventory is high… sounds like a perfect storm if you ask me.