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Old 05-07-2009, 10:55 AM
 
Location: Home
1,482 posts, read 3,126,817 times
Reputation: 624

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Quote:
Originally Posted by NatasNJ View Post
If that additional debt is leveraged against the house still shows they OWE more on a house then they could sell it for.
Agreed.

I just don't think that that is a valid barometer of what the housing market is undergoing.

The control would be just to take a house that was bought and financed, and how many of THOSE are now in debt over their salable value.... Adding in second mortgages just tells you how many money-foolish people were out there, not necessarily how bad the market is doing on its own....
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Old 05-07-2009, 10:57 AM
 
Location: Home
1,482 posts, read 3,126,817 times
Reputation: 624
Quote:
Originally Posted by elflord1973 View Post
I believe he (sholden) was kidding. You didn't get the joke.

Then I believe sholden should be banned for not using a or

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Old 05-07-2009, 11:05 AM
 
744 posts, read 1,406,542 times
Reputation: 182
Quote:
Originally Posted by Ninjahedge View Post
Then I believe sholden should be banned for not using a or

I was being serious

There was no housing bubble in NJ, the bottom was reached in 2007. Anyone who can't see that is clearly mistaking NJ for Phoenix.
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Old 05-07-2009, 11:51 AM
 
1,340 posts, read 3,698,387 times
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Quote:
Originally Posted by sholden View Post
I was being serious

There was no housing bubble in NJ, the bottom was reached in 2007. Anyone who can't see that is clearly mistaking NJ for Phoenix.
So a 100%+ increase over say 7 years is not a bubble? When historically the increase of value is at best 25-50% that over the same time span?
Right... No bubble....
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Old 05-07-2009, 11:59 AM
 
744 posts, read 1,406,542 times
Reputation: 182
Quote:
Originally Posted by NatasNJ View Post
So a 100%+ increase over say 7 years is not a bubble? When historically the increase of value is at best 25-50% that over the same time span?
Right... No bubble....
I included the funky winky face that time!
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Old 05-07-2009, 12:05 PM
 
1,340 posts, read 3,698,387 times
Reputation: 451
Quote:
Originally Posted by sholden View Post
I included the funky winky face that time!
You should have included the winky face AFTER the joke not after the comment about being serious before... So it seemed like you were joking before then made a serious statement.

Got ya now though... NJ never had a bubble. We should all be thankful to pay high taxes and high prices to live in NJ. NJ prices will only go up from now on. GOD LOVES NJ!
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Old 05-07-2009, 12:50 PM
 
Location: NJ
392 posts, read 842,456 times
Reputation: 191
Quote:
Originally Posted by sholden View Post
So what happens when the Chinese refuse to buy treasuries at almost 0% return. And hence treasury rates need to increase and mortgage rates go back to 18%.
It is starting to happen. China looks to be cancelling "our credit card".

AFP: China has 'canceled US credit card': lawmaker
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Old 05-07-2009, 12:52 PM
 
744 posts, read 1,406,542 times
Reputation: 182
Quote:
Originally Posted by NatasNJ View Post
You should have included the winky face AFTER the joke not after the comment about being serious before... So it seemed like you were joking before then made a serious statement.

Got ya now though... NJ never had a bubble. We should all be thankful to pay high taxes and high prices to live in NJ. NJ prices will only go up from now on. GOD LOVES NJ!
So the text after the smily is your serious text? And your joking about the face needing to be after.

But if you are joking about it needing to be after then it doesn't need to be and your second part could be a joke.

Oh dear, I think some of my brain just leaked out...

"Bottomed in 2007" I would have thought was more obvious than a smily as to the seriousness.

Buy in 2006 or be priced out forever!
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Old 05-07-2009, 01:34 PM
 
Location: New Jersey
4,181 posts, read 5,063,818 times
Reputation: 4233
Quote:
Originally Posted by xmonger View Post
It is starting to happen. China looks to be cancelling "our credit card".

AFP: China has 'canceled US credit card': lawmaker

the Chinese should have thought of this before they bought in.

but, of course, they had an agenda: to keep the yuan down.

worked for a while, but now I would say...

Game, set, and match -- to the USA !


Last edited by JG183; 05-07-2009 at 01:35 PM.. Reason: sp
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Old 05-07-2009, 01:36 PM
 
1,340 posts, read 3,698,387 times
Reputation: 451
Quote:
Originally Posted by sholden View Post
So the text after the smily is your serious text? And your joking about the face needing to be after.

But if you are joking about it needing to be after then it doesn't need to be and your second part could be a joke.

Oh dear, I think some of my brain just leaked out...

"Bottomed in 2007" I would have thought was more obvious than a smily as to the seriousness.

Buy in 2006 or be priced out forever!
I didn't label my 2nd comment as sarcasm with a smiley since it MUST be true according to MoorestownResident and JG183.
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