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Preview: Comments on: The Positive Side Of The Long, Painful Contraction

Comments on: The Positive Side Of The Long, Painful Contraction

Examining the home price boom and its effect on owners, lenders, regulators, real estate agents and the economy as a whole.

Published: Sat, 24 Mar 2018 03:37:31 +0000


By: PeonInChief

Mon, 01 Feb 2010 18:12:45 +0000

Meth labs use toxic chemicals. They permeate the walls, the floors, the ceiling. It's like buying a small Superfund site.

By: DennisN

Fri, 29 Jan 2010 18:50:53 +0000

What's wrong with Dred Scott v. Sanford? At the time it was a reasonable interpretation of the Constitution as it then stood. It took killing off 1/3 of all the men in the South and the 13th, 14th, and 15th Amds. to overturn Dred Scott.

By: Pondering the Mess

Fri, 29 Jan 2010 18:01:10 +0000

I see a lack of faith in the Prophet of Change! Don't worry - Megabank and friends will find a way to keep housing unaffordable, no matter how badly they have to mangle our economy to do it! D'oh!

By: Xenos

Fri, 29 Jan 2010 11:54:24 +0000

Oh, the plutocrats are threatening to go Galt on us? We should be so lucky. Let's rebuild the economy without them. It may take a bit longer, but that is not a bad thing if that means the new economy is a lot less bubbly.

By: DennisN

Fri, 29 Jan 2010 11:17:20 +0000

SFBAG, Actually Santa Clara County originally wanted BART and voted for it back in the 1960's. But the NIMBY's in San Mateo county - lying in the only path between SF and SC counties - voted it down and blocked it. Santa Clara county even voted in a BART tax to pay for it. With no BART they diverted the tax to the bus system. I was 10 years old when BART was first built in circa 1964. When I left San Jose after living their my whole life - at age 53 - BART was still a promise never to be kept. It's a real sore subject to me.

By: SDGreg

Fri, 29 Jan 2010 09:42:49 +0000

Wall Street led us into this economic disaster and will not lead us out. It wants nothing more than to continue the looting, at least as long as there's something to loot. With regard to banking for Obama, going populist could be both good politics and good policy. Of course, sound policy and reregulation to match the rhetoric would be helpful.

By: SDGreg

Fri, 29 Jan 2010 09:37:54 +0000

I’m rooting for the whales and the tunas. I'll munch on some tuna while the whale does its business.

By: SanFranciscoBayAreaGal

Fri, 29 Jan 2010 08:20:06 +0000

Each county in the Bay Area was allowed to vote to allow BART into their county. At the time the voters in San Mateo and Santa Clara County (San Jose is in this county), voted no on BART being allowed into their counties.

By: Athena

Fri, 29 Jan 2010 08:17:30 +0000

So, how long can they keep it up? When is the tipping point? How many houses can they hide? When does one bank reach the point of no return when they have to unload them?

By: Professor Bear

Fri, 29 Jan 2010 08:17:25 +0000

Las Vegas: Most foreclosures of any city in 2009 Las Vegas - call it Foreclosure City By Les Christie, staff writerJanuary 28, 2010: 5:55 AM ET NEW YORK (CNNMoney com) -- Cities in the so-called Sand States dominated the foreclosure rankings in 2009, with the 20 worst-hit metro areas residing in Nevada, Florida, California and Arizona. Las Vegas had the largest number of foreclosure filings of any city last year, with 12% of its households receiving at least one during the year, according to RealtyTrac, the online marketer of foreclosed homes. That was more than five times the national average. Cape Coral, Fla., was a close second with 11.9% of its households; Merced, Calif., was third with 10.1%. The good news is that all top 20 cities recorded declines in foreclosure filings in the last three months of the year. The bad news is that the foreclosure plague is spreading beyond these usual trouble spots, according to RealtyTrac's CEO, James Saccacio. And, nationwide, foreclosures grew 21.2% during the year. 3 million hit with foreclosure notices in 2009 "Areas like Provo, Utah, Fayetteville, Ark., Portland, Ore., and Rockford, Ill., all posted foreclosure rates above the U.S. average in 2009," he said. "And markets like Honolulu, Minneapolis and Seattle saw foreclosure activity increase at more than twice the national pace over the past 12 months." He added that the new foreclosure wave seems more grounded in traditional foreclosure causes, such as job losses, than those recorded in the Sand States, where they were much more "bubble related." In cities such as Las Vegas, Phoenix, Miami and Bakersfield, Calif., soaring home prices of the mid 2000s drove homebuyers to desperate measures, such as taking on hybrid adjustable rate mortgages, also called toxic ARMS. These products only remained affordable as long as home prices grew; once prices stopped rising, borrowers began to default. New hotspots Some cites that had escaped the worst of the default demon in prior years saw foreclosure filings -- default notices, auction sales and bank repossessions -- soar. The Gulfport area of Mississippi recorded a year-over-year spike of 784%. Houma, La., recorded a 379% gain, and Roanoke, Va., filings jumped 352%. ...

By: Professor Bear

Fri, 29 Jan 2010 07:25:16 +0000

Sounds like we are in store for reflexivity until the point of societal collapse. Oh goody!

By: Professor Bear

Fri, 29 Jan 2010 07:23:15 +0000

After twenty years, Japan is still struggling to leave the 'D' word in sight of the rear view mirror. Economic Report Jan. 28, 2010, 9:00 p.m. EST Japan economic data mixed; deflationary pressure rises By MarketWatch TOKYO (MarketWatch) -- Japanese economic data Friday painted a mixed picture of a country struggling to keep its nascent recovery on track, with deflationary pressure increasing, employment and spending data showing signs of improvement, and industrial output increasing but falling short of expectations. For January, Tokyo's core consumer price index -- considered a leading indicator of the nationwide CPI -- fell 2.0% from the same month last year, according to data from the Ministry of Internal Affairs and Communications. That was worse than the 1.8% decrease expected by economists surveyed by Nikkei and Dow Jones Newswires. ...