Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Well, he's been on top of this mess since the beginning, so I feel relieved!
Then again, maybe not. How's everyone doing with his Google goes to $1000 or Apple at $300 predictions? Worst Jim Cramer Predictions | GetListy (http://www.getlisty.com/kvue/worst-jim-cramer-predictions/ - broken link)
Cramer's predictions are purely for entertainment value, kind of like the National Association of Realtors'. At least Cramer is a bit less predictable.
I rarely watch his show, but I happened to see him bring the CEO of Wachovia on, and talk about how great their business was, very little "Bad debt", advising the viewers to buy. I really can't understate how certain he seemed about the whole thing. Wachovia stock was about $10/share. I toyed around with buying some, since they are a NC company and all, but ultimately took my old man's advice and stayed away from financials. A few weeks later their stock was $1/share.
So, yeah, Cramer has been calling all sorts of things.
He tells how hedge funds manipulate the market and how he did it when he was a fund manager. Comes this/close to admitting to illegally manipulating stocks.
Sorry it ain't going to end until a REALISTIC price is reached on home prices and it AIN'T there yet... and even then it tends to go below value before it goes back to normal... so no, it ain't going to end in 2009 nor is it going to end in 2010... its going to end when the proper levels are reached and OVERINFLATED values is still not a proper value... no matter how much Cramer or the Federal Government wishes it was...
Affordability of home: 263K. (From that same chart.)
From 2001 - 2006 Seattle's housing appreciated by 54.48 percent. What does that mean? That the 263 K home is worth a lot less than 263K. It costs 263K. It's not worth 263K. I've seen homes here that were bought for 800K, and 10 months later sold for 1.4 mil. It's now listed for 700K. http://www.redfin.com/WA/Bellevue/10...04/home/506355
Dec 09, 2008 Listed $700,000
Sep 26, 2007 Sold $1,400,000 132.2%/yr
Jan 29, 2007 Sold $805,000 9.4%/yr
May 31, 1984 Sold $104,000 --
To heck with this market. I'll hold on to my cash and wait for it to finish imploding.
The chief economist of the NAR predicted a bottom to the RE market in Dec 2006. I can't remember when Yun took over, but it was the start of a string of quarterly predictions that we were at the bottom.
If they keep it up at that pace, they're bound to be right sooner or later.
The chief economist of the NAR predicted a bottom to the RE market in Dec 2006. I can't remember when Yun took over, but it was the start of a string of quarterly predictions that we were at the bottom.
If they keep it up at that pace, they're bound to be right sooner or later.
The very first question to ask when someone makes a prediction is, "Does this individual or entity have any personal or business interest in the outcome?"
If they do, ignore 'em.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
