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yes. airplane noise areas!!!! are going down.
but I didn't see significant increase in price on any communities( May be I didn't see well).
last two months they offered great incentives
National debt as percentage of GDP for selected nations (2006 data):
Japan 176%
Italy 108%
Greece 104%
Belgium 90%
Israel 89%
Hungary 68%
Portugal 67%
Germany 67%
Canada 65%
France 65%
USA 64%
Austria 63%
Sudan 60%
Pakistan 55%
India 53%
Switzerland 51%
Netherlands 51%
Kenya 51%
Bangladesh 47%
Sweden 46%
Norway 45%
UK 42%
Finland 38%
Saudi Arabia 33%
Namibia 32%
Uganda 29%
Venezuela 28%
Iran 25%
China 22%
Russia 8%
Libya 6%
Estonia 4%
The USA has a lower DTI than most of the civilized world.
On a complete list, the least leveraged nations fall into two categories:
1) Nations with oil
2) Nations so unstable that they are unable to borrow.
The US government, as bloated as it is, has a better balance sheet than its citizens.
GDP in most, if not all, of those countries aren't highly leveraged against consumer debt. Over 70% of our GDP is consumption driven. Once China dumps our debt, as they've already begun to do, they'll hurt, but we'll be devastated. People believe that China absolutely needs us. With 1 billion of their own people, 20-30% at middle class or higher, I doubt that. They'll buy their own cr@p and may consider take some of our stuff via the bidding up of exports courtesy of a cheap dollar.
Norway is making money hand over fist selling oil to Europe and to the US. They are a net exporter. They flood their country with entitlement programs (wrongly so) because they have a surplus.
Credit cards are the next subprime. Wall St. does the same exact thing with securitized debt as it pertains to CC as it does with mortgages. What do you think will happen there?
Inflation is good for the Fed, good for government, bad for working Americans.
Check out REAL CPI-U inflation numbers (apologies that it's in small type), not the BS CPI numbers that the gubmint offers. Like I said, reduced prices on an iPod or iPhone is useless when one needs the money to eat, heat your home, get healthcare, and drive back and forth to work.
Dairy up 13.1%
Fuel oil up 6%
Lodging away from home up 7%
Beverages up 5.1%
LOCATIO,LOCATION,LOCATION--SOME ARE GOING UP,SOME ARE GOING DOWN!
To put some perspective on homebuilders from a person who has called out the subprime mess 2 years ago and tried to warn everyone he could. Of course, everyone laughed at him (until about 3 months ago).
Once China dumps our debt, as they've already begun to do, they'll hurt, but we'll be devastated.
Owners of the US national debt:
Federal Government 42%
Foreign Investors 22%
Privately Held 18%
Federal Reserve 10%
State and local Gov 8%
The U.S. government is itself the largest holder of the national debt, mainly in the trust funds. More than 60% of the total national debt is held by the various institutions of our own government.
Japan, the United Kingdom, and Mainland China are the three largest foreign holders of Treasury securities. Japan, not China holds the most US treasury securities. The Japanese hold 5x what the Chinese do...
Owners of the US national debt:
Federal Government 42%
Foreign Investors 22%
Privately Held 18%
Federal Reserve 10%
State and local Gov 8%
The U.S. government is itself the largest holder of the national debt, mainly in the trust funds. More than 60% of the total national debt is held by the various institutions of our own government.
Japan, the United Kingdom, and Mainland China are the three largest foreign holders of Treasury securities. Japan, not China holds the most US treasury securities. The Japanese hold 5x what the Chinese do...
Learn of which you speak.
I realize that Japan is much more leveraged, but people speak of China as if we're married at the hip with them just because Wal-Mart redistributes their cheap imports to consumers. We also have a military alliance with Japan and they need protection from N. Korea via us. It's much more likely they'll eat the loss and continue to work with us.
To put some perspective on homebuilders from a person who has called out the subprime mess 2 years ago and tried to warn everyone he could. Of course, everyone laughed at him (until about 3 months ago).
Interesting video. True dooms day scenario painted by Peter Schiff. I quote "no home will be built for a generation". Man that's a long time.
Let's hope for ALL of us this does not come to pass. Good times are always followed by down times. The housing market was drunk and disorderly the past 5 or 6 years and now we are in the hang over phase. Once that passes the taster of a new home will be all to tempting to pass up.
I try to follow the news and provide reason to what I see and read but lately I am at a loss at watching the stock market steadily go up, prices for food and fuel go up, jobless claims go down and the government saying the economy last quarter grew better than they expected.
My gut tells me the shoe is about to drop in the not to distant future. For the thousands upon thousands of mortgage brokers, advisors, as well as the US auto workers that were laid off this past year, where did they all find jobs to allow the national unemployment number to stay about the same?
Where are these jobs that are making up the difference in job loss this country is seeing?
I guess the old adage still has merit, plan for the worse and hope for the best.
yes. airplane noise areas!!!! are going down.
but I didn't see significant increase in price on any communities( May be I didn't see well).
last two months they offered great incentives
I don't agree with the airplane noise bit. I live off 540 and Leesville and my house has gone up at least $30k since we bought it last year...and while that's "paper" value, similar houses in the n'hood have sold for that price. Also, across 540 in Harrington Point (directly below the flight path), the houses have been selling pretty quickly (more $$ then they were last year) if priced correctly. So being under the flight path in Raleigh means that you live in a desirable area, where some other cities/areas that might not be the case.
The thing about the flight path is that if you're located under it, it means you're really close to the airport and close to RTP. While some people will not want to live where they hear planes flying overhead, more people want to live where they are closer to work and airport. IMO, more people want to be closer to work (airplane noise be damed).
Honestly the plane noise is about the same for me (live 3 miles from the airport) has it was when I lived 10 miles from Dulles airport in NoVA. I would say that it gets loud about twice a day and maybe only once at night will I hear a plane that I consider to be barely a nuisence. It doesn't bother me one bit.
Interesting video. True dooms day scenario painted by Peter Schiff. I quote "no home will be built for a generation". Man that's a long time.
Let's hope for ALL of us this does not come to pass. Good times are always followed by down times. The housing market was drunk and disorderly the past 5 or 6 years and now we are in the hang over phase. Once that passes the taster of a new home will be all to tempting to pass up.
I try to follow the news and provide reason to what I see and read but lately I am at a loss at watching the stock market steadily go up, prices for food and fuel go up, jobless claims go down and the government saying the economy last quarter grew better than they expected.
My gut tells me the shoe is about to drop in the not to distant future. For the thousands upon thousands of mortgage brokers, advisors, as well as the US auto workers that were laid off this past year, where did they all find jobs to allow the national unemployment number to stay about the same?
Where are these jobs that are making up the difference in job loss this country is seeing?
I guess the old adage still has merit, plan for the worse and hope for the best.
I see you point and agree. The one worry is that this person has been almost perfectly and consistently right for the past 3 years. I listen to him more for the information value rather than entertainment (he can be boring sometimes). Most people consider him to be a rational person and not sensationalist like other pundits on Fox, CNBC, et al.
There are many more industries other than homebuilders. Yes, they are dependent on homebuilding, but economies adapt and shift into other areas. In other countries, you see almost zero housing development growth, yet the economy moves along somehow, albeit at a slower pace. America will adapt to zero housing development.
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Data junkie
