Posted on 11/19/2006 7:42:06 PM PST by GodGunsGuts
I am convinced that the housing bubble is gigantic and will burst before long with massive implications here and abroad. In fact, it's the key to the global economic outlook.
Setting the Scene
House prices in recent years have leaped well beyond their normal relationships to the CPI...
(Excerpt) Read more at news.goldseek.com ...
ping
on the bright side, those waiting for a chance to pick up inexpensive housing might just well be lucky.
We bought a home last July with the intent of staying here no more than five years.
I'm so worried that we're going to lose when we try to sell it.
Very true, but they better have 20% for the down. By then, the days of zero or 5% down will be long gone.
You might want to email "Torie". He seems to be an expert on the subject, and he doesn't think housing will decline nearly as much as I do. Still, he might be able to give you some good, unbiased advise as to options if the bottom threatens to drop out--GGG
Figures these guys are trying to sell gold.
You know, housing starts always decline in the winter.
Do you have the same problems with articles/papers posted by PIMCO or Merrill Lynch?
Thanks for the advice!!!
Thanks. Although, Safe Haven is also very pro gold (as they should be :o)
I know nothing about Safe Haven and don't advocate buying gold. Just found a link to the story from a reliable source. Housing can NOT continue the way it's going.
Housing has little to do with the price of consumer goods, and instead is largely driven by the availability of land (supply) and the number of people who want to live there (the demand).
We aren't getting rid of anybody (the election pretty much assures that with regard to illegals), and we aren't adding any new land to our continent. So the idea that suddenly everybody is going to want to live in little tents on street corners is simply silly.
The price you can get for your house might drop, maybe as low as what it was 2 years ago, hardly a major setback in the long term given how much housing prices increased over hte past 5 years.
But anybody who is hoping for houses to be given away any time in the future is going to be sorely dissappointed.
Oh, they ARE giving away houses here in Virginia, good solid aluminum houses used on the old military base. You have to guarantee you'll remove the houses and rebuild them somewhere, and apparently it is too expensive or the housing isn't good enough.
Everybody wants 5-bedroom houses with 4-car garages.
But supposing houses will get a bit cheaper, it's hilarious that everybody cheers when you can buy a car on sale, but nobody likes a good cheap house.
Well, you know that in the long run, Gold is an excellent investment, as a pound of gold still weighs as much today as it did 100 years ago.
At any rate, thanks for the link--GGG
I read that a couple of days ago.
Shilling is, or was, a Yale prof who warned of the stock market bubble long before it popped. He's been watching the mortgage/RE market and warning of a bubble there for a year or two. Not someone to casually dismiss.
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