U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Economics
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 03-15-2008, 11:21 AM
 
Location: Forests of Maine
32,641 posts, read 53,173,795 times
Reputation: 22634

Advertisements

Quote:
Originally Posted by 70Ford View Post
Can you link to the information where "Most Americans prefer to rent" is? I'd like to see what percentage that is, compared to those who want to own a home.
No I can not.

Having been a land-lord on the West Coast and the East coast it has been my observation that among fellow landlords, it is fairly well established as known fact that in population centers most people rent. Whereas when you look more rural more folks own [however there are far less people rural].

Obviously everyone posting here wants to own. You and I are posting on a sub-forum about finance and investments.

As to this 'bad' turn of the economy and it's effects on investing. I see no shortage of renters.

My units are full.

I know a landlord [KM] here locally where I retired to, who has a very greedy or hungry attitude. KM has began renting out 'sub-habitable' units that need a four month's work to bring them up to minimal habitability standards. But KM is swamped with people wanting to be tenants. They want to rent so badly that they don't care, if they have no heat. Or if they need to buy bottled water. They are willing to sign leases with these clauses in them.

All of my units are fully habitable.

I assisted a friend last week [who posts on this board though a different sub-forum] to move into a rental. I was shocked to see the conditions that they were moving into. And shocked again to see the landlord [KM], an associate of mine. KM was happy to sign the lease for a terrible unit that had no potable water and no heat. And they were happy to move into it.
Rate this post positively Reply With Quote Quick reply to this message

 
Old 03-21-2008, 09:29 AM
 
Location: Riverhead, NY
10 posts, read 70,382 times
Reputation: 11
in my neck of the woods there is another point I'd like to make...illegal immigration has exacerbated much of the problems we are facing: easy credit from unscrupulous lenders has put many, many illegal immigrants into housing that they cannot afford without renting out all available space in that house to other illegal immigrants - even with that said many of these houses in my area are now for sale or in foreclosure, I can only imagine what mortgage they were fraudulently given!

Illegal immigrants are sucking dollars away from taxpayers and tax collecting agencies yet consuming the very services that taxpayers provide...a double whammy on our economy!

What's the answer to this part of the equation??? I say give all illegal immigrants that can prove they were here by a certain date amnesty for a period of 3 months. In that time, they must apply for a social security number and become a tax paying citizen. If after that time they have not done so, then start to de-port.

If you find this post not politically correct - come live in my community!
Rate this post positively Reply With Quote Quick reply to this message
 
Old 03-21-2008, 09:36 AM
 
Location: America
6,993 posts, read 16,086,101 times
Reputation: 2083
Quote:
Originally Posted by Binney View Post
in my neck of the woods there is another point I'd like to make...illegal immigration has exacerbated much of the problems we are facing: easy credit from unscrupulous lenders has put many, many illegal immigrants into housing that they cannot afford without renting out all available space in that house to other illegal immigrants - even with that said many of these houses in my area are now for sale or in foreclosure, I can only imagine what mortgage they were fraudulently given!

Illegal immigrants are sucking dollars away from taxpayers and tax collecting agencies yet consuming the very services that taxpayers provide...a double whammy on our economy!

What's the answer to this part of the equation??? I say give all illegal immigrants that can prove they were here by a certain date amnesty for a period of 3 months. In that time, they must apply for a social security number and become a tax paying citizen. If after that time they have not done so, then start to de-port.

If you find this post not politically correct - come live in my community!
Greed is the gift that keeps on giving.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 03-21-2008, 11:42 AM
 
32,686 posts, read 51,353,947 times
Reputation: 18564
milk cows eat corn and other commodities like soy bean products which are being pushed higher in cost due to
1) competitive buying for ethanol production (which is really not finding much of a market so the buying might drop off in spring/summer)
2) bad drought and flooding situations which have curtailed crop production in some areas and made buying feed out of local area necessary so there are higher transportation costs incurred
3) higher cost of fuel for farmers who run farm machinery to produce their own animal feeds vs buying it--
the fact that there are MORE milk cows just means there are more to feed and puts more demand on food sources for more cows--more milking machines to run--more investment to buy the cows--more man-hours to tend them--it creates a BUYER's market for milk when it is overproduced...

milk is usually packaged/sold not by the individual farmer but to some type of cooperative/conglomerate as raw milk---the milk producer is not making very much profit at all from milk sold --it is the middle man who buys raw milk and turns it into packaged product who is making the profit and those large businesses have a stranglehold on the market from what I understand--they pass along their higher energy costs for tranportation and mfg to consumer--plastic jugs are petroleum product--higher costs there as well--and the % of profit from milk that goes to dairy farmer is much smaller than what the milk producers pay themselves...

just don't think that more cows mean cheaper milk in the stores--
more beef cattle has not meant cheaper beef prices...
Rate this post positively Reply With Quote Quick reply to this message
 
Old 03-21-2008, 01:13 PM
 
Location: America
6,993 posts, read 16,086,101 times
Reputation: 2083
loves

one thing would help is, they need to start farming closer to city centers.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 10-12-2008, 06:00 PM
 
Location: Some place very cold
5,500 posts, read 21,045,467 times
Reputation: 4254
Quote:
Originally Posted by flu189 View Post
The economy has its troubles, but the media and the hoards of "business" experts fuel the feeding frenzy of bad news. All this creates quite a bit of extra useless anxiety. The focus of the stories headlines the bad news often without explaining that the stats and figures apply to select regions or industries. I know I have taken a hit and this recession will set back my plans time wise, but it's pointless to dwell on doom and gloom.
Actually, I don't think the media is telling you the bad news at all. They are run by corporate interests, so if you want the real news, you need to dig a bit deeper than mainstream media.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 10-12-2008, 06:06 PM
 
Location: Some place very cold
5,500 posts, read 21,045,467 times
Reputation: 4254
Quote:
Originally Posted by bigdummy View Post
No, it's not as bad as they say it is....yet. But it will be soon, and it'll be much worse than what you're hearing about.

Just think about it; the majority of Americans are living off of credit. They have no money in savings, and are in debt up to their eyeballs. They spend more than they make, and even if they stop overspending now, they still have tens of thousands of dollars in credit card debt, etc...

On top of that, they have no money (or a far inadequate amount) saved for retirement. Pensions and other "guaranteed retirement income" are a thing of the past. It's now entirely up to the individual to save for their own retirement, and the majority of people are not.

Finally, it's not just our citizens who are living off borrowed money...it's our government too. The national debt is going up faster than ever before, while the value of the dollar is going lower than ever before. All this is going to lead to massive inflation and a recession like we've never seen before.

In short, our entire economy is a house of cards, and there's simply no way it can keep going like it is. The market will have to correct itself at some point. When that point comes, our credit based economy will crumble, and when it does, watch out!

My prediction is that within the next couple years, several major banks will go bankrupt, the dollar will become crap, inflation will skyrocket, and we will officially end the "era of easy credit" in the United States. We'll be in a recession for a while, but eventually the economy will correct itself again, and it'll all be OK again.

But going forward, credit will be like it was in 1980. Only the wealthy will be able to get a credit card or a mortgage. Or rather I should say, only people who have a proven record of financial responsibility and a reasonable debt-to-income ratio. Interest rates will probably be sky high too, at least until the economy gets back on track.
Bigdummy,

I agree with most of your comments but not the part about the economy going into a recession and then "self-correcting."

The economy is going to tank and we are headed into a full blown depression. For some reason, people seem to be under the illusion that the business economy has this built-in "self-correct" mechanism. This is just a myth. It took government intervention and a world war to bring us out of the last great depression.

I don't know that we'll come out of this one so good.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 10-12-2008, 06:23 PM
 
1,020 posts, read 2,347,322 times
Reputation: 547
Quote:
No, it's not as bad as they say it is....yet. But it will be soon, and it'll be much worse than what you're hearing about.

Just think about it; the majority of Americans are living off of credit. They have no money in savings, and are in debt up to their eyeballs. They spend more than they make, and even if they stop overspending now, they still have tens of thousands of dollars in credit card debt, etc...

On top of that, they have no money (or a far inadequate amount) saved for retirement. Pensions and other "guaranteed retirement income" are a thing of the past. It's now entirely up to the individual to save for their own retirement, and the majority of people are not.

Finally, it's not just our citizens who are living off borrowed money...it's our government too. The national debt is going up faster than ever before, while the value of the dollar is going lower than ever before. All this is going to lead to massive inflation and a recession like we've never seen before.

In short, our entire economy is a house of cards, and there's simply no way it can keep going like it is. The market will have to correct itself at some point. When that point comes, our credit based economy will crumble, and when it does, watch out!

My prediction is that within the next couple years, several major banks will go bankrupt, the dollar will become crap, inflation will skyrocket, and we will officially end the "era of easy credit" in the United States. We'll be in a recession for a while, but eventually the economy will correct itself again, and it'll all be OK again.

But going forward, credit will be like it was in 1980. Only the wealthy will be able to get a credit card or a mortgage. Or rather I should say, only people who have a proven record of financial responsibility and a reasonable debt-to-income ratio. Interest rates will probably be sky high too, at least until the economy gets back on track.
Wait, there are some errors with this. You said that interest rates will go sky high while we have massive inflation and the dollar plummets. It is impossible to raise interest rates (contract the money supply) AND raise prices. It flies in the face of macroeconomic fundamentals. The only way it could happen is with a supply shock rippling through the economy like in the 1970s with oil (and, last I checked, oil is plummeting and will be until it hits $50-60 at least, due to so many investors trying to get liquidity and selling off futures, stocks, etc as well as an overall slowdown in industry leading to lower oil demand). Also, if most people are living off credit and that contracts as well, that would lead to a drop off in demand causing LOWER prices, thus not inflation.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 10-12-2008, 06:24 PM
 
Location: Gary, WV & Springfield, ME
5,826 posts, read 8,974,871 times
Reputation: 17294
We are where we are right now because for 8 years, "someone" has been giving state of the union addresses and boldly stating, "The state of the union is strong!" Just a sample of the lies told over the past 8 years.

On the subject of failing banks, I can add personal experience. My primary bank, where my primary checking account is, downsized and closed, leaving no branches in my city of residence. I took my money out and moved to another, closer bank. A year later, that bank failed. I did nothing. The bank was taken over by another bank and I received a letter of introduction from the new bank name letting me know that I didn't need to do anything. My account was fine, my checks would continue to be honored by the new bank and my account would not see any changes other than my statements coming from a different bank name.

Meanwhile, my financial consultant has changed hands and there is serious talk of yet another change in the form of a merge any day now. How has that affected me and my account? It hasn't. The same person I know and talk to is still there, still answering the phone no matter what the corporate name is and answers all questions keeps me advised just as he always has. No worries.

I learned a long time ago you can't believe everything you read and in fact, you can't believe most of what is written. All journalists have their own idea of what is going on no matter what is presented to them and they all want to win awards and be on the front page. Ignore them.

Last edited by AliceT; 10-12-2008 at 06:57 PM..
Rate this post positively Reply With Quote Quick reply to this message
 
Old 10-12-2008, 06:52 PM
 
Location: 1. Miami 2.Dallas 3. NEXT!
463 posts, read 1,260,534 times
Reputation: 133
Quote:
Originally Posted by Wild Style View Post
It will get bad across the board though I think not every area will be hit as bad as others. For instance, I am in Florida right now and things are going VERY bad. I have visited Nashville and while things are slowing down it is not bad as Florida. On the flip side of it, we are just in the beginning stages of this entire mess so it could be that Florida is just a sign of whats to come across the board.
Florida has turned into a **** pot...thats why I left.

Ay Miami!
Rate this post positively Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Economics

All times are GMT -6.

© 2005-2021, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top