Do you think we are heading for a depression? (Jersey City: for sale, college)

[JoeSo]

Originally Posted by HobokenGuy

I'm still curious to know how NJ will weather this meltdown. Lots of commuters are tied to these firms, and I bet a lot of them will have to move away to find work.

You mean move out of the country like most companies have been doing for the past 7 years?

[JoeSo]

Originally Posted by Delphi

I would say deep painful correction. We Americans need to give up part of the wealth we gathered in last 7/8 yrs.

Who's we white man?
Haven't we given up enough to the war and to other things the fed has dropped the ball with?
Besides the wealth is held by fewer now,let people like Buffet and Gates and Trump and Branson spread the wealth around a bit.

[Delphi]

Originally Posted by JoeSo

Who's we white man?
Haven't we given up enough to the war and to other things the fed has dropped the ball with?
Besides the wealth is held by fewer now,let people like Buffet and Gates and Trump and Branson spread the wealth around a bit.

We means people who pay tax on their $10 income, not on their $10B income. We take the pain that those big shots inject into the society.

[FromDaSack]

The stocks plumeted recently.. because if that hurricane.. now i dont know squat about it but i know it's a big deal to a lot of ppl who put a lot of money on a lot of stocks.

[CuCullin]

Originally Posted by HobokenGuy

I can tell you that the bars were eerily quiet this past weekend here.

College just started up again. This happens every year :P

[JamesBoyer]

I like that you are all talking about it and seeing the worst, as with all other economic downturns and financial market problems, it is always darkest before the dawn. When everyone is at the peek of pessimism and running from the markets, be they Stock Markets, Bond Markets, Real Estate Markets, Currency Markets ... that is the time when you reach a bottom, and things start to turn.

Have we reached the darkest point in this mess with Fanny, Freddy, Lehman, Merrill, and who knows who else?? I could not say, I dare say nobody really could until that time has passes and the best buying opportunity has passed.

Yes this will effect New Jersey, to what extent, who knows, I will say one thing for sure you will not see a spike in foreclosures for at least 6 months or longer if you ever see it. Why, it just takes that long once people stop paying their mortgages. One things is for sure, it likly will not be as happy of a holiday season this year in Hoboken, Jersey City, and Manhattan.

[TheEmissary]

I think those "big bonuses" that the Wall Street crowd are used to at Christmas will be more like a $10 Off coupon for Outback Steakhouse!

[FromDaSack]

Originally Posted by TheEmissary

I think those "big bonuses" that the Wall Street crowd are used to at Christmas will be more like a $10 Off coupon for Outback Steakhouse!

i wouldn't mind.

[DowntownJerseyCity]

Originally Posted by JamesBoyer

I like that you are all talking about it and seeing the worst, as with all other economic downturns and financial market problems, it is always darkest before the dawn. When everyone is at the peek of pessimism and running from the markets, be they Stock Markets, Bond Markets, Real Estate Markets, Currency Markets ... that is the time when you reach a bottom, and things start to turn.

Have we reached the darkest point in this mess with Fanny, Freddy, Lehman, Merrill, and who knows who else?? I could not say, I dare say nobody really could until that time has passes and the best buying opportunity has passed.

Yes this will effect New Jersey, to what extent, who knows, I will say one thing for sure you will not see a spike in foreclosures for at least 6 months or longer if you ever see it. Why, it just takes that long once people stop paying their mortgages. One things is for sure, it likly will not be as happy of a holiday season this year in Hoboken, Jersey City, and Manhattan.

Add a good number of inhabitants in Bergen, Union, Morris, Essex, Monmouth, Nassau, Richmond, Queens, Kings, Suffolk, Passaic, Hunterdon, Sussex, Warren, Somerset, Middlesex, Rockland, Westchester, and everywhere else.

[TheEmissary]

Originally Posted by FromDaSack

i wouldn't mind.

Me neither!