Some interesting predictions for 2008 (Denver: loans, real estate, condos)

[Katiana]

Originally Posted by NewAgeRedneck

Bideshi wrote:

It's better that some people do not reproduce...

If only Rush Limbaughs parents would have embraced that attitude!

Dang! I have to spread some rep around before I can give it to you again! Loved it!

[Bob from down south]

Q: What's the difference between Rush Limbaugh and the Hindenburg?

A: One's a flaming Nazi bag of gas...the other's a dirigible.

[justmyopinion]

Overgrowth is (and will continue to be) a problem in Colorado, as has been for YEARS in Florida, Arizona and California. People are pouring into this country every day by the thousands (understandable), which is why so many of the big cities (like Los Angeles) are getting bigger. Because of the over-crowding, people start looking outward to more "rural" areas in which to live. That is why so many are leaving CA and TX to move to places like Colorado.

I don't know what the answer is. City planners continue to approve huge projects, cramming as much housing in as possible; some are considered "affordable" which is good, some are not so affordable. (The developers still make their money for sure; if it is "affordable housing", they just cram twice as much in to a smaller space.)

Everyone complains about over-growth. But as our city officials tell us, you (basically) can't tell developers what they can and can not do with their properties after they purchase it. If a rancher can make a couple of million from his property that he is loosing money on in ranching, who is to blame him for selling to the developer? If the developer buys 500 acres with no restrictions, he can go ahead and put 1500 homes (or more) on it. The cities continue to approve the over-building, and at least they can get some tax dollars from it.

Right now, there are so many condos going up, with NO potential buyers. They have glutted the condo market, but the building continues because the developers need to repay their loans. A vicious, continuing circle, that is about to come crashing down.....

[Mike from back east]

Originally Posted by Bob from down south

Q: What's the difference between Rush Limbaugh and the Hindenburg?
A: One's a flaming Nazi bag of gas...the other's a dirigible.

Bob, that's one of the best quotes yet, and it got ya 3-points of good rep from me. As I soon as I spread the love some more I'll give NewAgeRedneck a 3-point lift.

I'd add Anne Coulter and Bill O'Reilly to gas bag status. In all fairness there are surely some on the opposite end of the political spectrum that also deserve gas bag status, but I never bother to watch or listen to them, in fact, I don't even know who they are.

Like most Americans, I'm within a few points of center; a bit to left as a social progressive, i.e., keep the government out of our bedrooms, find a way to provide health care for all, fix our public schools, and; I'm well to the right as a fiscal conservative, i.e., don't spend money we don't have, balance the danged budget, put reasonable limits on safety net programs, and keep a long-term view of where our nation should be going. Would be nice - for a change, eh.

My predictions for this year, if not already stated way back when this topic started are:
- Recessionary times, possible stagflation. The current administration, by lowering interest rates repeatedly and sending out tax rebate "stimulus" checks, seems to be kicking the can down the road into the lap of the next President. By delaying the day of fiscal reckoning, the pain will be worse and it is the NEXT president that will be tarred with the dirty brush of bad times.

- The war in Iraq will be / has been kicked down the road to the next chief executive to figure out. The current administration (worst I've ever seen) will then stand back and blame the NEW president for whatever the outcome is. General Petraeus is considered a brilliant man within the Army, where I worked 30 years. George Bush has Petraeus reporting direct to him, which bypasses the Secretary of Defense and the Theater Combatant Commander, and may be one reason why Admiral Fallon resigned his post as Combatant Commander for that part of the world. This is a very unusual arrangement since it flies in the face of two military principles that all Army officers learn when they are second lieutenants--Unity of Command and Chain of Command. Bush has become our very own Little Corporal.

- Silly season will continue until the national election in November. It sure has been silly so far. My 'fan' club, numbering in the tens of people, can use advanced search in the 2008 election forum to search on my name to find my many 'pithy' comments and insightful gems. My prediction is that Barrack Obama will be the DEM candidate and will defeat John McCain. Don't count out some silly nonsense along the way, to include Ralph Nader popping up when least expected, like Alfred E Neuman of Mad Magazine.

- Attendance will decline at major league baseball games due to the steroid scandal. The boo birds will be out this year.

- Global warming and the green economy will become household words and a campaign issue. There will be more 'green' investing choices too, like General Electric, as one of their subsidiaries is HUGE in the wind-turbine marketplace.

[Bideshi]

Originally Posted by Mike from back east

- Attendance will decline at major league baseball games due to the steroid scandal. The boo birds will be out this year.

I think TV ad revenues will be down too as viewers who are losing their jobs and struggling to stay afloat financially gag at what pro athletes earn.

[steveco.]

Originally Posted by justmyopinion

Overgrowth is (and will continue to be) a problem in Colorado, as has been for YEARS in Florida, Arizona and California. People are pouring into this country every day by the thousands (understandable), which is why so many of the big cities (like Los Angeles) are getting bigger. Because of the over-crowding, people start looking outward to more "rural" areas in which to live. That is why so many are leaving CA and TX to move to places like Colorado.

I don't know what the answer is. City planners continue to approve huge projects, cramming as much housing in as possible; some are considered "affordable" which is good, some are not so affordable. (The developers still make their money for sure; if it is "affordable housing", they just cram twice as much in to a smaller space.)

Everyone complains about over-growth. But as our city officials tell us, you (basically) can't tell developers what they can and can not do with their properties after they purchase it. If a rancher can make a couple of million from his property that he is loosing money on in ranching, who is to blame him for selling to the developer? If the developer buys 500 acres with no restrictions, he can go ahead and put 1500 homes (or more) on it. The cities continue to approve the over-building, and at least they can get some tax dollars from it.

Right now, there are so many condos going up, with NO potential buyers. They have glutted the condo market, but the building continues because the developers need to repay their loans. A vicious, continuing circle, that is about to come crashing down.....

Actually the condo market in Denver is fairing well as opposed to some other cities. People are still buying them which is why they are still being built. If a builder or a developer cannot repay loans simply by putting up a building. Usually they need the dollars that they recieve from purchases from that condo building to repay the loan.

[Bagz]

Originally Posted by Mike from back east

I'd add Anne Coulter and Bill O'Reilly to gas bag status. In all fairness there are surely some on the opposite end of the political spectrum that also deserve gas bag status, but I never bother to watch or listen to them, in fact, I don't even know who they are.

Please please add me to the gas bag status too.

[Bob from down south]

Originally Posted by steveco.

Actually the condo market in Denver is fairing well as opposed to some other cities. People are still buying them which is why they are still being built. If a builder or a developer cannot repay loans simply by putting up a building. Usually they need the dollars that they recieve from purchases from that condo building to repay the loan.

If only this logic were valid. One cannot infer a market for housing just because the builders are building. There are legion examples of just the opposite all across the looted plains. Developers continue construction on high rise condos in Miami and Lost Wages, where prices have been in free-fall for almost a year.

Haven't looked into Denver lately, but the Condo market is way down in Colorado Springs. March condo sales volume was down around 37% year over year. I have my doubts that the broader Denver condo market is too much different.

[RangerDuke08]

My prediction is a riot for the Democratic National Convention outside the Pepsi Center this summer, watch out! That's about it.

[Bob from down south]

Originally Posted by RangerDuke08

My prediction is a riot for the Democratic National Convention outside the Pepsi Center this summer, watch out! That's about it.

You know, we were talking about that very topic this morning in my office.