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Do you think that the economy is better now than it was ten years ago? In what way is it better for you?
Do you see any problems down the road for this economy? Will growth last?
What do you think is the primary reason for the great recession happening?
2005 was the height of the real estate bubble. I do not see a current bubble.
On the other hand, our economy historically might be described as a series of bubbles. I would have to do more research, but the 80's was a bubble, the late 90's was a bubble - the tech bubble - and so on. As I said, I need to do little research on the matter.
2005 was the height of the real estate bubble. I do not see a current bubble.
On the other hand, our economy historically might be described as a series of bubbles. I would have to do more research, but the 80's was a bubble, the late 90's was a bubble - the tech bubble - and so on. As I said, I need to do little research on the matter.
Good question.
Is there not a wall street bubble? You do not see any signs of a major correction down the line?
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
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Here it is definitely better than in 2005, with home prices above what they were then, and developments going stronger than before the recession. Our city actually had no real budget crisis, with few foreclosures, and the only layoffs were at the building permit department, and only because they had nothing to do. Those foreclosures were due to some layoffs, but mostly the bad mortgages such as interest-only for 5 years coming to the 5th year while values fell. People that had planned to sell before the principal started being due, but couldn't.
Here it is definitely better than in 2005, with home prices above what they were then, and developments going stronger than before the recession. Our city actually had no real budget crisis, with few foreclosures, and the only layoffs were at the building permit department, and only because they had nothing to do. Those foreclosures were due to some layoffs, but mostly the bad mortgages such as interest-only for 5 years coming to the 5th year while values fell. People that had planned to sell before the principal started being due, but couldn't.
Must be the legal weed there huh? What types of people moving to your area?
Is there not a wall street bubble? You do not see any signs of a major correction down the line?
I think there will be a correction in the stock market, things are a bit overpriced right now but not like 2001 or 2007 where I'd throw the term "bubble" around.
Nope, not as good as 2005. The economy in 2005 was overheated, really. The economy now is pretty good. The remaining weak sector is wages which have just now begun to rise again.
Hard to tell. I keep hearing about weak consumer demand, stagnant wages, deflationary pressure, and now a crash in commodities which will have global implications. I consider our economy to be fragile and addicted to QE. There is much that causes me to question the foundation of this "recovery".
Many large corporations are doing exceptional. They aren't "the economy" though. They are participants in it.
It is the nature of markets that they go up and down. This does not make "bubbles". As recently used, the term "bubble" is little more than a device to provide some sort of cover or diversion from what was actually error and criminality.
Aside from corporate profits, the overall economy in 2005 was not in particularly good shape, and we are not so well off today either. Wages (i.e., the labor-share of GDP) declined every year after 2000, and in the post-calamity world, they haven't done well either. We are paying the well-known price for having promoted such a skewed and distorted income distribution. As it was during so much of the Robber Baron Era, the economy will be at continuous risk for so long as we continue to operate under such a paradigm. This is an inherently unstable arrangement.
It's better. But I still think housing is overpriced anywhere from 10-30% depending on location given current conditions. But there are jobs out there. I get hit all the time with offers
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