Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Real Estate
 [Register]
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.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 05-06-2010, 04:07 PM
 
Location: SC
9,101 posts, read 16,397,957 times
Reputation: 3619

Advertisements

I wonder how many people that were fully invested and saving to buy a house, lost a lot of their wealth (their downpayment)today with the tanking stock market?

I watched it on my computer and luckily was not fully invested. I wonder about those who were though -- especially if they quickly tried to close out of their positions.

Will the real estate market will take a hit as a result of today...especially because it was announced that the debt crisis in Greece will spread here soon?

What do you all think?
Reply With Quote Quick reply to this message

 
Old 05-06-2010, 04:11 PM
 
Location: NJ
17,574 posts, read 45,992,545 times
Reputation: 16271
I think anyone who is considering buying a house in the near term and has that money wrapped up in the stock market deserves what they get.
Reply With Quote Quick reply to this message
 
Old 05-06-2010, 04:11 PM
Status: "Made the Retirement Run in under 12 parsecs!!!" (set 13 hours ago)
 
Location: Cary, NC
43,049 posts, read 76,581,655 times
Reputation: 45373
Misleading thread title.

Dow is down 347+ points at the close.
Dow Exhales to Close Down 348 After Biggest One-Day Swing | The Market Story | Financial Articles & Investing News | TheStreet.com

While the drop was precipitous, the climb back was equally steep, just didn't wipe out the loss.

Sellers lost 1000 if they panicked and were trading in a DOW ETF, maybe.
Some serious money was made by buyers at the bottom of the spike, for sure.

There is a little after hours softness, but at this time, not all DOW components are down.
VZ is up. I haven't looked at all 30 stocks, though.
http://finance.yahoo.com/q/cp?s=%5EDJI+Components
Reply With Quote Quick reply to this message
 
Old 05-06-2010, 04:15 PM
 
Location: Lead/Deadwood, SD
948 posts, read 2,780,789 times
Reputation: 872
Quote:
Originally Posted by emilybh View Post
I wonder how many people that were fully invested and saving to buy a house, lost a lot of their wealth (their downpayment)today with the tanking stock market?

I watched it on my computer and luckily was not fully invested. I wonder about those who were though -- especially if they quickly tried to close out of their positions.

Will the real estate market will take a hit as a result of today...especially because it was announced that the debt crisis in Greece will spread here soon?

What do you all think?
I think your sources stink and your post was premature.
Reply With Quote Quick reply to this message
 
Old 05-06-2010, 04:17 PM
 
Location: Barrington
63,919 posts, read 46,468,992 times
Reputation: 20674
Reportedly a data entry error at Citigroup contributed to the panic, too.
Reply With Quote Quick reply to this message
 
Old 05-06-2010, 04:20 PM
Status: "Made the Retirement Run in under 12 parsecs!!!" (set 13 hours ago)
 
Location: Cary, NC
43,049 posts, read 76,581,655 times
Reputation: 45373
Quote:
Originally Posted by middle-aged mom View Post
Reportedly a data entry error at Citigroup contributed to the panic, too.
Well, ya know how it is with penny stocks....

Reply With Quote Quick reply to this message
 
Old 05-06-2010, 04:38 PM
 
Location: NJ
17,574 posts, read 45,992,545 times
Reputation: 16271
Not that this post had a lot of merit to it, but it has even less if you actually look at a chart of the dow.

We closed today at pretty much the same level as we did on April 7th. And from before April 7th we are higher today than we have been at any point since about October 6th, 2008.
Reply With Quote Quick reply to this message
 
Old 05-06-2010, 05:13 PM
 
Location: Mokelumne Hill, CA & El Pescadero, BCS MX.
6,957 posts, read 22,231,403 times
Reputation: 6469
While the equity market may have glitched, the 10 year treasury, which is a key rate in mortgage pricing, dropped to 3.4% which is good news for homebuyers.

Apparently a misreported price for Proctor and Gamble was able to drop the dow 172 points all by itself, which triggered all sorts of computer model trading programs. Once the error was reported, the dow magically regained 600 points.
Reply With Quote Quick reply to this message
 
Old 05-06-2010, 07:24 PM
 
Location: SC
9,101 posts, read 16,397,957 times
Reputation: 3619
Quote:
Originally Posted by MikeJaquish View Post
Misleading thread title.

Dow is down 347+ points at the close.
Dow Exhales to Close Down 348 After Biggest One-Day Swing | The Market Story | Financial Articles & Investing News | TheStreet.com

While the drop was precipitous, the climb back was equally steep, just didn't wipe out the loss.

Sellers lost 1000 if they panicked and were trading in a DOW ETF, maybe.
Some serious money was made by buyers at the bottom of the spike, for sure.

There is a little after hours softness, but at this time, not all DOW components are down.
VZ is up. I haven't looked at all 30 stocks, though.
^DJI: Components for Dow Jones Industrial Average - Yahoo! Finance
The point is the entire market plunged to great depths and if people had placed stop-loss orders they were filled after that kind of drop.

We essentially reached our February lows today and many say we could go lower so batten down the hatches.
Reply With Quote Quick reply to this message
 
Old 05-06-2010, 07:28 PM
 
Location: Right where I want to be.
4,507 posts, read 9,030,180 times
Reputation: 3360
Quote:
Originally Posted by manderly6 View Post
I think anyone who is considering buying a house in the near term and has that money wrapped up in the stock market deserves what they get.
^ This.

emilybh is obviously a glass half empty type of gal if this is considered the stock market 'tanking'. Good heavens....how did you make it through 2008?
Reply With Quote Quick reply to this message
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.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Real Estate
Similar Threads

All times are GMT -6.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top