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Old 12-06-2011, 11:26 AM
 
28,896 posts, read 53,948,549 times
Reputation: 46662

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Quote:
Originally Posted by Mathguy View Post
I've also warned people that the bottom may not even be reached yet because:

1) The prices are still buoyed by record low interest rates. What happens if a 30-year mortgage returns to 6-7% or higher?

2) Florida has a ticking time-bomb in the form of their state-run home insurance program. It's massive and insures much of the worst risks (coastal) in southern florida. When the next big hurricane or multiple smaller hurricanes hits they will be bankrupt by 20+ billion.

This will cause 2 issues:
a) An assessment of 10% will be added to all home, auto etc. insurance in the entire state for a couple years.
b) The implosion of the state insurer will drive rates higher in addition to normal rate spikes after events like that AND people with the state insurer that have been getting a big subsidy will have to likely pay market rates again.

So, depending where you live in the state the next bad hurricane year is going to cause your homeowners insurance to go up at least 15-20% and in some cases perhaps double. This will crush housing prices further.
Add to that the Case Schiller Index showing that home prices STILL are way above what their valuations should be had they simply been indexed for inflation since 2000.
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Old 12-06-2011, 02:27 PM
 
3,201 posts, read 3,842,710 times
Reputation: 1047
CNBC is basically a bunch sports broadcasters that may know the rules but can't play the game.

I don't know how long it will be til real estate turns, but it seems an almost abolute certainty the stock market will tank when Europe collapses here in the next 7-14 days.

Quote:
Originally Posted by Trocadero View Post
His voice is very annoying, he screams and rants, never shuts up.
Why on earth did CNBC give him even more airtime??? Are they that desperate?
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Old 12-06-2011, 02:56 PM
 
Location: NC
1,225 posts, read 2,411,030 times
Reputation: 673
Cramer and that Kudlow guy are old heads over at CNBC. They used to talk a lot of S##@ before the recession of 2001-2 and talked up lots of IT startups and put your money in IPO's. blah blah
He annoys me he is probably just well connected over there.
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Old 12-06-2011, 03:16 PM
 
Location: Metro Detroit, Michigan
29,635 posts, read 24,652,162 times
Reputation: 28258
Blah, more armchair economist wannabes. People who clearly don't have their feet on the ground. Every once in awhile, one of these types will encounter a guest who states, "don't forget, the middle class is under an enormous amount of stress right now". That conversation usually doesn't last too long... These guys are oblivious to the overall mess this country is in. They routinely ignore the absolute fundamentals. They nit pick the company's balance sheet but fail to investigate the most important fundamental of all... The balance sheets of the intended consumers! Can't sell a product if you have no buyers...
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Old 12-06-2011, 03:20 PM
 
Location: Midwest
504 posts, read 1,266,103 times
Reputation: 346
Cramer is a good entertainer. That's his job.
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Old 12-06-2011, 03:21 PM
 
1,459 posts, read 3,288,975 times
Reputation: 606
don't you know that Jim Cramer can help you make money? I did! Just bet against what he promotes!
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Old 12-06-2011, 03:28 PM
 
3,201 posts, read 3,842,710 times
Reputation: 1047
Quote:
Originally Posted by Freebird2007 View Post
don't you know that Jim Cramer can help you make money? I did! Just bet against what he promotes!
Right on!
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Old 12-07-2011, 07:55 PM
 
Location: In America's Heartland
929 posts, read 2,086,281 times
Reputation: 1196
I agree that Cramer is more entertainer than investment expert. I just would not call him good entertainment. I would rather scratch my fingernails across a chalkboard than listen to his rants.
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Old 12-07-2011, 08:05 PM
 
24,488 posts, read 40,990,659 times
Reputation: 12919
I find cramer interesting, as an entertainer. I don't use his recommendations. However, it's a little early to judge something he recommended just in 2008. This would be something good to come back to in 2030 or so. I'm not saying he is correct, but just like you can't judge any long-term investment after 3 years, the same applies here.
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Old 12-09-2011, 11:01 AM
 
4,246 posts, read 11,979,901 times
Reputation: 3150
So you're saying a stock he said to buy at $68 and went to $2 isn't long enough? That stock ended up going bye bye.
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