A New Depression (economy, retired, money, states)

[Paka]

regarding the stock market you know...NO ONE complains when the market goes UP 200 points per day, but when it comes time to adjust, everyone acts like it is an issue.

I don't like it either, but if you don't have the money to invest, the brains to follow it and the B*&&S to ride it out, you don't belong in it! JMHO!

That and real estate are STILL the only two places real money is going to be made...always has been, always will be.

[kevcrawford]

Originally Posted by hello13685

And who is paying Metrostudy for those results? Metrostudy is a private corporation that works FOR the housing industry. I call a recession.

Of course you do. Because you only want to be negative about everything. Metro Study is an independent company. Their recent forecasts were good for SA, but not for other cities around the country. They were horrible for others.

But if you want to feel that everything is a huge conspiracy, that's fine. Whatever floats your boat.

[texasoasis]

I am not alarmed even if we did go into a deep recession.
Of course times would be unbearable but everyone has become so high and mighty with big cars, fancy bling, fat houses and such that we almost deserve to hit the bricks just to smack some sense into us over fed Americans.

I have friends that scream like they are dying if their cell phone doesn't connect or they can't get their dry cleaning back fast enough.

A good starving, homeless recession like in the 30's from living so fat in the roaring 20's and relying on the wheat belt feeding the troups in the Uk that turned into a dust bowl on us from not managing farm land properly is exactly what we need to snap us out of being fat, lazy and not as humble of a people as we all used to be.

[traveler guy]

So even if were not in a recession, we do have some of those early warning signs popping up.

[Paka]

Not really, but if it makes you feel better you can say that.

Again, the issue here is NOT negative GNP, but more WAY too many people with NO savings, living WAY beyond the means who now find themselves in a lurch because they have houses that are NOT worth what they took out in 2nd mortgages on them (mostly on the East and West coasts). Texas learned their lesson in the 80's when the oil fields went bust...and the foreclosure rate was out of this world...if you notice those adds that use to be on TV every 30 minutes use to claim that you could "borrow up to 125% of your homes value"...in Texas they just started letting you APPLY for a 2nd like that a few years ago, and the law here still requires a MAX of 80% of your homes value.

But you know, if more folks ACTED like it was a recession, EVERYONE would sure be better off! As far as the stock market is concerned, it still averages 9% since inception, and again, land/property is still a positive asset for growth, just not every year that you own it. Cycles happen, like the seasons.

[gy2020]

Gold is also a good hedge, $900 an ounce/ not bad. It was just $600 a year ago.

[Jammie]

Originally Posted by traveler guy

So even if were not in a recession, we do have some of those early warning signs popping up.

We're probably just fine. The days of a person who makes 10 an hour being approved for a 300,000 house are over. It's more of a re-adjustment to the way things were in the past. Some people were just living way beyond their means and it had to stop sometime.

I just read a post where someone said you have a low unemployment rate in S.A. Our unemployment rate up here is 2.3% so we're doing fine, too.

[hello13685]

Originally Posted by kevcrawford

Of course you do. Because you only want to be negative about everything. Metro Study is an independent company. Their recent forecasts were good for SA, but not for other cities around the country. They were horrible for others.

But if you want to feel that everything is a huge conspiracy, that's fine. Whatever floats your boat.

But where does Metrostudy get its money (Being that it explicitly states that it exists to provide the real estate industry with information? No, it's not a conspiracy, it's just a bad source to cite if one is in the real estate industry and wants to convince people she/he is providing at least moderately "objective" market indicators.

Also interesting that you say Metrostudy is wrong about the other cities around the country, but correct with SA. So this comany's information is credible because...?

[Retired-&-going-back-2-CA]

This is really getting scary now.

The destruction of credit - and thus the money supply - is far more serious than most people realize.

Ben Bernanke realizes it though, and that's the reason for the panic rate cut moves.

Money market rates will be down to 1% within months - F*%king over the retired and the poor, and jacking up the cost of living.

All to save an irresponsible and unregulated banking system - including Wall Street who profited handsomely from this real estate bubble.

When this bubble bursts, however, there will more Americans stuck in poverty than ever before in history.

[Paka]

Originally Posted by Jammie

We're probably just fine. The days of a person who makes 10 an hour being approved for a 300,000 house are over. It's more of a re-adjustment to the way things were in the past. Some people were just living way beyond their means and it had to stop sometime.

I just read a post where someone said you have a low unemployment rate in S.A. Our unemployment rate up here is 2.3% so we're doing fine, too.

Where in SD? DH is from Blunt...just up the road from Pierre. Get to go there for Christmas this year, joy, oh joy!
(Not that I don't like SD...just not into the -23 degrees the last time we were there for the holidays)...