[Muggy]

Post whether or not you're enjoying the bust.


I like it; party on Wayne, party on Garth.

[Mike1306]

I think you need to explain yourself a little better.

Are you happy that people that were just trying to buy their first home have lost maybe everything they saved up over the last few years?

Are you happy that some investors that had previously made alot of money are now losing money?

I know it really can't be that homes are now affordable for you because they were that same price a few years back.

Did you not buy then and you were kicking yourself but now they are back down?

What makes you happy about it?

[grapico]

I am not neccesarily happy, but I feel a little better now at not being able to invest back then... I always thought the prices were way out of range.

[Jammie]

Well, I'm not necessarily happy for the people who are losing their houses, BUT things were getting totally out of line. People were complaining because of the high taxes on their house. They complained about the high cost of insuring their house. Hello!!!! When the value of a house that used to be 100,000 instantly becomes valued at three times that much, what else could you expect? How did people think it would continue? How could've they let someone convince them that they should buy now cause the house would be worth double in a few years? Where was all the $$ supposed to be coming from?

[bale002]

The bust still has a long way to go.

Production - consumption = saving + investment

Recklessly throwing resources at a center of consumption (housing) through debt is NOT investment.

The bust will be successful when policymakers stop focusing on symptoms (i.e. the drop in housing prices is the cause of the recession) and refocus on

production - consumption = saving + investment

The Florida economy and the US economy need jobs that are competitive in and add value to the international economy.

Housing does NOT do that.

The bust still has a long way to go.

[BlueWillowPlate]

Originally Posted by bale002

The Florida economy and the US economy need jobs that are competitive in and add value to the international economy.

Housing does NOT do that.

Bale, can you further explain this?
As for me personally, I knew the bust needed to happen, but I am not particularly getting any *enjoyment* out of it.
I really hope for a better world for my kids--everyone's kids--to inherit.

[bale002]

Originally Posted by BlueWillowPlate

Bale, can you further explain this?
As for me personally, I knew the bust needed to happen, but I am not particularly getting any *enjoyment* out of it.
I really hope for a better world for my kids--everyone's kids--to inherit.

This forum is not the proper venue for a complete course in economics. But let me put it in a few pithy maxims.

In this country, and perhaps in Florida in particular, we have too many pencil pushers and not enough pencil makers.

In the US economy, featuring an aging population and an increasingly obsolete transportation and zoning law paradigm, too many resources are allocated to consumption and relatively unproductive uses, while in other countries new resources are being mobilized and put to relatively productive use.

In the US economy, value is destroyed when an excessive amount of resources is allocated to inefficient housing and motor vehicles that a critical mass can either not afford or does not want, or both, though their choices are confused by reckless monetary policy.

And again, the US economy is a stagnating or dwindling pie, and a few have manipulated policy to grab a bigger slice of it, while encouraging the many to squander the slice that they already have, tricked by money illusion.

[SoFLGal]

I'm really not sure how anyone could fine any joy out of this:

msnbc.com Video Player

No matter who foreclosure is happening to, it's pretty heartbreaking.

[bale002]

Originally Posted by SoFLGal

I'm really not sure how anyone could fine any joy out of this:

msnbc.com Video Player

No matter who foreclosure is happening to, it's pretty heartbreaking.

It's heartbreaking to produce and save prudently only to see it squandered, against one's will, by sycophant deadbeats and their political whoremasters.

[Muggy]

Originally Posted by SoFLGal

No matter who foreclosure is happening to, it's pretty heartbreaking.

Why is it heartbreaking? Just move into a rental. It's not that hard, you put your crap in your car and go to one of the many foreclosure-friendly complexes offering a free month's rent; they're everywhere. It seems like a great time to walk away since there is no social stigma to it anymore. Housing is crashing and there is nothing to do but wait for it to bottom out.

I take joy out of all of this because I am a responsible, prudent citizen that will benefit from living within my means. Any municipality would be grateful to have a stable person like me on their role. For every tax deadbeat, there is a police officer whose livelihood is at risk. I say get the deadbeats off the tax roles and put a responsible owner in there. Foreclosure is a good thing, see?