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Preview: Comments on: The Natural Consequences Of The Excesses

Comments on: The Natural Consequences Of The Excesses



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



Published: Wed, 24 Jan 2018 12:52:09 +0000

 



By: Lucy

Fri, 17 Aug 2007 12:43:30 +0000

The Hang Seng Index fell 1,200 points or 6% at one point today and then finished almost unchanged. It has been this volatile for some time now. Do you think that the PPT is also working there, or that China has its own PPT taking orders from New York?



By: CA renter

Fri, 17 Aug 2007 09:31:29 +0000

Nope. It means prices will come down to a point where those of us with cash can buy a home. I have the distinct feeling average price levels will be well within conforming loan limits ($417K, IIRC).



By: CA renter

Fri, 17 Aug 2007 09:07:49 +0000

Indeed! Been a long time a-comin'!



By: CA renter

Fri, 17 Aug 2007 09:02:44 +0000

It might also make them "dead". My mother had stories from WWII where people would sometimes be killed to get the gold fillings out of their teeth. Large masses of unemployed, poor, desperate, sick, hungry people is NOT a good thing for society or individuals -- however "rich" they may be. It's also why we "socialists" (using term loosely) believe in having taxes/regulations that help prevent the huge wealth disparity seen in most third-world countries. Our kind of capitalism rewards hoarding capital (at the top) at the expense of labor. That's not sustainable, long-term. BTW, people are foolish to think there is only "one kind" of socialism. It does not necessarity prevent free trade, cause higher taxation, prevent private ownership of most assets, etc. We need to open our eyes and try to determine what's best for individuals **in the context** of what's best for society. In the end, these interests are one and the same.



By: CA renter

Fri, 17 Aug 2007 08:55:31 +0000

Though much of that is being produced overseas now.



By: CA renter

Fri, 17 Aug 2007 07:57:59 +0000

So sorry you had to deal with that, Kat. Been there, done that. Good for you for being involved, though! Even if it doesn't always work out as planned, at least you can say you did your part. Good luck! :)



By: CA renter

Fri, 17 Aug 2007 07:44:26 +0000

Amen, Darrell!



By: CA renter

Fri, 17 Aug 2007 07:42:18 +0000

Maybe, maybe not. As long as you understand what's going on and make a decision WRT risk that you are able to live with, carry on. Just be aware that some people believe all asset classes will fall in value/price in the short term due to a possible credit crunch (perhaps later "bailed out" by hyperinflation?).



By: Liz in Boston

Fri, 17 Aug 2007 07:03:33 +0000

Entertainment. Movies and music are America's most successful exports.



By: Liz in Boston

Fri, 17 Aug 2007 06:49:35 +0000

I got so excited seeing Countrywide and all the other mortgage companies blowing up. But today its E*Trade, now i dont think its so funny because i have an account there. A little too close to home. I have an E*Trade account, too (stock, not mortgage). Where did you hear about that?



By: lainvestorgirl

Fri, 17 Aug 2007 04:05:39 +0000

As long as the market closes at roughly the same level it opened at, I think PPT is happy.



By: lainvestorgirl

Fri, 17 Aug 2007 03:21:08 +0000

"Just talked to a friend whose wife is a mortgage broker, he said that the Jumbo loan processing in the Bay Area, as far as they know, is completely halted. 20% down will NOT make the cut. It is more like 50% down and FICO score of above 750 plus full doc, and the bank may still think about it." Just found this on the Patrick.net blog, what does this mean, those of us left standing with down payments now can't buy a house due to lack of financing under any circumstances? Sheesh, I give up.