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Uh, Dallas is a major city, so goes back to my point
sigh... That's just one example and it didnt start til a few years ago. You have made no viable point. Except to say major cities have recovered when in fact not many to the point of before the crash. Overall it hasn't been rosey. That's the point.
Location: Live:Downtown Phoenix, AZ/Work:Greater Los Angeles, CA
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Quote:
Originally Posted by Loveshiscountry
sigh... That's just one example and it didnt start til a few years ago. You have made no viable point. Except to say major cities have recovered when in fact not many to the point of before the crash. Overall it hasn't been rosey. That's the point.
Before the crash was a bubble built on credit; it was artificial
Location: Live:Downtown Phoenix, AZ/Work:Greater Los Angeles, CA
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Quote:
Originally Posted by Hoonose
Nothing artificial about credit. But it certainly can be over extended.
A good chunk of loans were bad, and pushed real estate prices to unrealistic levels; like when the median home in South Central Los Angeles was selling for $600k in 2006, yet no one who lived in South Central would have been able to afford a $3k/month mortgage payment
A good chunk of loans were bad, and pushed real estate prices to unrealistic levels; like when the median home in South Central Los Angeles was selling for $600k in 2006, yet no one who lived in South Central would have been able to afford a $3k/month mortgage payment
For the vast majority of the country, prices did not do that.
A good chunk of loans were bad, and pushed real estate prices to unrealistic levels; like when the median home in South Central Los Angeles was selling for $600k in 2006, yet no one who lived in South Central would have been able to afford a $3k/month mortgage payment
Then over extended. The loan is real, the home is real, the value may be real. Now whether the 3 together makes good sense is the whole nut.
That I would agree with. QE IS EXACTLY ARTIFICIAL.
One can only understand QE knowing how the Fed conjures USD.
And then maybe one day China.
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