Leading indicators up; jobless claims down.

[MoorestownResident]

Originally Posted by wileynj

Thank God this forum has moorsetownresident. I'm so sick and tired of the "repent..the end is near" posts. The recession is now as a result of pandemic. Those who are afraid to do anything...buy a house, buy a car, invest, etc. are their own worst enemies! And those who do nothing but complain about our Government... I have news for you..WE are the Government! Stop complaining and waiting for someone else to do something about the politics of this State and Country. It really does only take one person to make a difference!! So get off your arses and go out and make a difference.
Reps to you my half full friend

LOL, good job Wiley.

In terms of economic growth, the glass is ALWAYS half-full. Our economy grows by inertia and momentum - it has a natural behavorial tendency to grow. It has also proven far more resilient in prior crisis than the media portrays. Just like this crisis is ending far sooner than expected.

[CaptainNJ]

Originally Posted by stevemorse

ok , I see the economy getting better. Home depot in Riverdale has a huge sign which 6 months ago was not there NOW HIRING. The place was packed. Six months ago it was dead. More cars on the road, more people in stores and more things moving. I see people buying again. I think some people want the whole economy to crash and guess what I think its only up from here!

i wouldnt say that i want the economy to crash. it just seems to me like it will only continue to drop for a while. what i want means nothing. either way, crash or recover, i hope to personally prosper. everyone else is on their own.

[MoorestownResident]

I hear that! Bring on the morons, the more people get emotional the more I have a chance to prosper. Bring it on.

[Delphi]

Originally Posted by wileynj

Thank God this forum has moorsetownresident. I'm so sick and tired of the "repent..the end is near" posts. The recession is now as a result of pandemic. Those who are afraid to do anything...buy a house, buy a car, invest, etc. are their own worst enemies! And those who do nothing but complain about our Government... I have news for you..WE are the Government! Stop complaining and waiting for someone else to do something about the politics of this State and Country. It really does only take one person to make a difference!! So get off your arses and go out and make a difference.
Reps to you my half full friend

With due respect to wileynj, do you remember last year around this time you and I had a debate. You predicted that interest rate will be around 9/10% by mid of 2009. I said NO. I said global financial situation can't support that high a interest rate for another 2/3 yrs. Now we are in mid 2009 and you see who is "more" right?

Now let me tell one more thing. I really doubt interest rate will go above 7% in next 6/7 yrs.

Let me tell you one more thing. Whatever correction is happening in the marketplace is much needed one. Do you believe it? If not, please ....

And finally about house price. House price in NJ will come back to history norm. It took 6 yrs (2001-2006) to get to this peak, it will take 6 yrs to get to bottom and we are halfway through to bottom.

I worry about my kids not being able to buy a house. This market correction is going to give me some peace. How about your kids/grand kids? I don't want this country to become like India/China and so many other countries where people buy a 1000 Sq feet condo after they retire at 60. You know why do they do that? Simple, people can't afford. Do you want your kids to become one of them? If not, please let the correction play out.

Once correction take place, more people will buy and economic activities will start. Meanwhile, we have to take the pain of the drug we injected into the system. I have one unemployed person (who has 2 master degrees in Science) at home. I am taking the pain even though I was not part of the housing bubble gain.

oops..where is the bubble? not in NJ..we have NYC..oh yeah..there will be soft landing, but not in NJ, we have NYC..oh yeah..home price has already bottomed out..oh yeah..interest rate is going up...jump...8k federal credit will vanish..jump...!!!!!!!!!!! hahahaha

[NatasNJ]

NYT: Good mortgages growing foreclosure risk - The New York Times- msnbc.com

Next wave of foreclosures is happening.

[goonsquad]

Case Schiller data is out for March. NY metro off 11.79% year over year and 2.70% since February .

S&P | Indices > Alternative Indices - S&P/Case-Shiller® Home Price Indices - Home Price Values