Regarding the Great Housing Crash of 2005 - 20XX, how does it all go down from here?
February 12, 2007
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13 comments:
How? Quickly of course!
we'll probably soon hear all the negatives about Greenspan which never made it public before. Like maybe he was a bartender when some low-level pol, impressed he was a nice guy, offered to get him an entry level job with The Fed pushing papers around...
Im suprised Toll Bros. didnt bulldoze that land where the tombstone is pictured and build luxury condo living at its finest with units starting at $800k.
"Anonymous said...
Im suprised Toll Bros. didnt bulldoze that land where the tombstone is pictured and build luxury condo living at its finest with units starting at $800k."
I think that they did do that once. Ever see "Poltergiest"
They're Heeeeeeeeeeeear!
Burn baby burn, Disco Inferno, Burn baby burn, looks like late 70's early 80's all over again. Iran is back in the game, interest rates soon to explode, gas hog cars on the road. Wow. Now I know I am getting old. I am 39. I never understood how people did not learn from that painful past.
It's in the planning stage!
stuck, lol.
that's also what homeowners say today when the mailman walks up the driveway with the mtg bill.
Bankruptcies
Unemployment
Deflation
Foreign wars
Ethnic violence
XX=13
This is an excerpt from a Bloomberg article regarding sub-prime mortgages.
So many mortgage lenders have failed in the past two months that a blogger in Georgia set up a Web site to track them and called it the ``Implode-o-Meter.'' His tally, illustrated with a mushroom cloud, stood at 20 as of Feb. 9.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aqTiIkTKqgzo&refer=home
Great Depression II. Socialism, then fascism (see Hayek's "Road to Serfdom") and finally nuclear war and the end of humanity. All because humans need to believe in a free lunch.
Hey, if you went back and told the dinosaurs: "your only purpose is to power the transportation devices of hairless primates", how do you think they'd take it? Guess what? Our purpose is to clear the decks for new life forms that will be immune to radioactivity.
Here is how it will all end… eventually:
2 Peter 3
10But the day of the Lord will come as a thief in the night, in which the heavens will pass away with a great noise, and the elements will melt with fervent heat; both the earth and the works that are in it will be burned up.
11Therefore, since all these things will be dissolved, what manner of persons ought you to be in holy conduct and godliness, 12looking for and hastening the coming of the day of God, because of which the heavens will be dissolved, being on fire, and the elements will melt with fervent heat?
the mess started in 1997.
So I think we should just call it even and go back to '97 prices.
Just wash it clean so we can start over.
1997 prices would allow for homes to bought with sane lending practises again (20% down, etc.) - that should help the banks get and keep some of these props off their hands.
At '97 prices, the Fed could do whatever it wants with interest rates - ie. go as high as they need- without getting the REIC in an uproar.
1997 prices would bring some sobering stability back to the market.
Rents could be low and still cash flow. Which would give all those FB's cheap rentals to live in after they've lost that home that was never really theirs in the first place.
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