August 13, 2006

HousingPanic Stupid Question of the Day


Have we already entered The Great Recession?

Posted by blogger at 8/13/2006

21 comments:

Anonymous said...

I don't know...I do know that shit in the supermarket has gotten a whole lot more expensive in the few months. At least housing prices have come down quite a bit to offset that. I had a realtor call me today begging me to buy this home we looked at. She said the seller was willing to 700K from 889K and an original starting price of 1.2 million. I told her I would give him what he paid plus 8% percent appreciation which put me in the 550K range. She said that wouldn't be reasonable.

She'll call back. If not who cares I ain't in no rush.

August 13, 2006 8:52 AM
Anonymous said...

the collective mindset of americans has changed dramatically in the past few weeks - it all started with the perception that a house will be cheaper tomorrow than it is today. Once that change happened, everything else is secondary

August 13, 2006 9:02 AM
Anonymous said...

Like I said in a previous post. We have entered a period of re-evaluation. Inflation and deflation at the same time.

Food, fuel up.

Big, plastic boxes of air that will be impossible to heat or cool down.

Big, metal and plastic SUV's and other unnecessary road hogs for commuting down.

Big shopping sprees to Made in Chine crap centers down.

Wages for you and me down.

Wages for CEO's and other parasitic skimmers of wage earners up.

Bogus CPI (doesn't include food and fuel) down.

Real CPI (includes food and fuel) up.

August 13, 2006 11:32 AM
Anonymous said...

yes, sometime a couple of months ago, when people realized they couldn't sell their houses for what they thought they could, and started clamping down. same time the banks started clamping down on credit.

August 13, 2006 11:57 AM
Anonymous said...

yes, and just in time for the baby boom generation to be completely and utterly fu*ked

August 13, 2006 1:01 PM
Anonymous said...

It does seem to be rearing it's ugly head. A small change in attitude is all it takes!

August 13, 2006 2:54 PM
Roccman said...

great recession??

um - can we say:

BONE CRUSHING THUD DEPRESSION FROM HELL

Recession - LMFAO!!!!!!!!!!!!!!

August 13, 2006 3:17 PM
Anonymous said...

it's raining men!

August 13, 2006 3:50 PM
Anonymous said...

remember: it will be different this time!

August 13, 2006 3:51 PM
Anonymous said...

Food is going up, resturarants are going up, gas (don't go there!), BUT home depot had a sale on 2x4's last week, $1.69 down from $2.29, I almost went into shock. AND nobody in the place! Could prices on houses and the materials that build them be coming down? Say it ain’t so, HOUSING ONLY GOES UP!

August 13, 2006 4:25 PM
Anonymous said...

I have an antique shop in Los Angeles and have noticed that we have ALOT of people bringing things in to sell ALL OF A SUDDEN. Also, we are selling cheap crap while better more expensive items are sitting.

August 13, 2006 4:49 PM
Roccman said...

yeppers - discretionary spending goes first.

So my bro-in-law sell Kettle Corn for a living and has done very well over the years - my sister does not have to work.

I think as people stop going to theme parks and movies - he will be looking for a new career.

BYW he asked me 1 year ago if I still thought we were running out o gas...

LMFAO!!!!!!!!!!!!!!!!!!!

August 13, 2006 5:12 PM
Anonymous said...

We are in the depression, but it is in disguise!

30 million people working at minimum wage vs. 25% unemployment during the 1930's. . .same difference. . .80% of people don't own homes- banks do. . .people lease cars or have 4 year payments - don't own. . .reverse mortgages for old people means no money for future generations. . .people owe more than they earn, and savings rate is zero. . .there will be NO DEPRESSION - we have been in one for years - like everything - it is on the installment plan!

August 13, 2006 5:31 PM
Anonymous said...

Thoughts - Oprah. . .

It is a sad state of affairs when Oprah is giving the US public more financial information than the news. . .she did a week on Debt in the USA, and a series about 30 million people working at minimum wage. . .

August 13, 2006 5:46 PM
Anonymous said...

There is another huge change in the wind. Many Boomers are looking straight into the jaws of retirement, and from what I see, not many are prepared financially. I have relatives who are suddenly realizing that their pitiful savings and a $900/mo SS check won't allow them to live like they think they should. I predict many will sell their houses, stocks, and toys (aka downsize) in an attempt to cash out as inflation heats up.

It should make for some interesting politics as the gen X and Y-ers break the news to these old farts -- they don't have any money either.

August 13, 2006 7:00 PM
Dragasoni said...


"Recession is 2 quarters of negative growth, in the first quater of 06 we grew at 5.5% second quater we grew at 2.5, more than a 50% haircut. Some say Q3 is doing well (back to school), I am not buying it. I project that Q4 will be the first quarter of negative growth, Q1 of 07 we will all know something is very wrong."


I agree 100% with your statement. I don't think people will realize until Q1 of 2007 that things are going down hill.

-Dragasoni-

August 13, 2006 7:51 PM
Anonymous said...

http://news.yahoo.com/s/nm/20060813/bs_nm/bizfeature_downsize_dc;_ylt=ArrrZTM0oQVrNZYLYZCeJLWs0NUE;_ylu=X3oDMTA3ODdxdHBhBHNlYwM5NjQ-



Believe this.....

August 13, 2006 9:45 PM
Anonymous said...

We have already entered a recession with a possible depression to follow. Here in New York, there are more stores with "FOR RENT" signs than I have ever seen before. It has started and the MSM will let us know that it has started when we are in the middle of it. What should have told us that it started, besides the layoffs and numerous commercial properties for rent, was the big anti-immigration push. Our borders have been unsecured for decades now. Millions of Mexicans did not suddenly appear in this country. It has taken 5 years after 9-11 for our politicians to begin to act to attempt to secure our borders. But terrorism and other criminal acts committed by illegals are not the real reason for the new anti-immigration/secure our borders/deport illegals - agenda. The real reason is that our government is aware that the recession has started, and need to get rid of the millions of Mexicans that are engaged in jobs in the lower spectrum of employment, so that when the economy goes even further into the recession or depression, the jobs that the illegals held will be there for Americans, even if they pay minimum wage or less. In substance, what I am trying to say is that immigration was never a hot button issue until the economy started going into the shitter. It's history repeating itself.

August 14, 2006 1:45 AM
foxwoodlief said...

Prepare for a new infusion of liquidity in the credit markets, lower interest rates, and a mini-boom before the bust. Kind of what happened to Japan in 1990. Things started to get shakey, the government panicked, things got a little better, then they raised rates to try to keep inflation from going crazy, pop...double bubble deflates. So who knows, recession? Maybe not until the summer of 2007 or even 2008? But then 2007 we are leading up to a major election in 2008 so who knows, the government will inflate the economy or they know there will be a major change.

August 14, 2006 1:45 AM
Anonymous said...

You won't see people flying out the windows this time around.

In 1929 people were accountable for their faults.

In the 2000s, everyone else is responsible for faults of one's own doing.

You will see many more homicides this time around as the misguided fools attempt to get even at those who have led them into financial ruin.

August 14, 2006 5:49 PM
Anonymous said...

My Grandfather was cop in NYC during the Depression. They lived in Queens - blue collar, Irish. My Grandmother told us that leading up to the depression, he'd come home shaking his head, knowing something was afoot. All along the main street in Jackson Heights, shops were closing, one after another, almost daily. Once bustling, it grew eerily quiet, 'til BAM!

Not sure I agree that the illegals are part of any grand plan, just gov't looking out for big business, also PC/immigrant interest group pressure. Even pre-9/11 it was getting out of hand. I just read that we have essentially added 10 million high school drop-outs to our population, and that each illegal costs 100k per annum in health care & other assistance. If we go full blown Depression, what will happen with that crowd? It's a BIG crowd! There were some nasty Salvadoran riots in Mt. Pleasant section of D.C., some years back, and those were relatively prosperous times.

Now many, maybe most, illegals and native born Americans have a sense of entitlement (which played into the housing bubble/living beyond means/consumerism) that Americans of the Depression era did not.

I'm with those who think it could get very ugly next go 'round.

August 15, 2006 12:29 AM

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