That's why I live in a Big-Ass Gold House.
Posted on 04/19/2006 9:58:59 PM PDT by ex-Texan
The Commerce Department reported Tuesday that single-family housing starts fell 12% last month. Privately owned housing starts fell 7.8% to the lowest level since March 2005, while new building permits fell 5.5%. * * * Labor Department reported that wholesale prices rose 0.5% last month as oil and gasoline prices are approaching new record highs. * * *
New findings from the April Experian/Gallup Personal Credit Index survey suggest that many Americans believe [the housing bubble may burst] * * *
National Housing Bubble
Seventy-one percent of consumers believe it is very likely (24%) or somewhat likely (47%) that housing prices will collapse in housing markets across the nation as a whole within the next year, according to the April Experian/Gallup Personal Credit Index survey. * * *
Housing has been one of the key drivers of economic activity in the United States over the past several years. Building new homes not only creates jobs but also stimulates the purchase of a variety of consumer durables including appliances and home furnishings. More importantly, the growth of housing equity has had a pronounced wealth effect not only on consumer spending, but also on consumer borrowing.
Currently, the housing sector is under assault from the double-whammy of increasing interest rates and surging energy prices. * * *
The most significant impact, however, may involve the effect of a housing slowdown on the overall U.S. economy. A significant economic slowdown during the second half of this year could lay bare many of the housing finance excesses of the past several years. In turn, this could make the pessimism 7 in 10 consumers have about the potential for a bursting of the housing bubble seem prescient later this year.
View Gallop Poll Data and Graphs:
(Excerpt) Read more at poll.gallup.com ...
"Seventy-one percent of consumers believe it is very likely (24%) or somewhat likely (47%) that housing prices will collapse in housing markets across the nation as a whole within the next year . . ."
View more graphs and charts here Now even the experts at Gallup confirm my opinions about hyper-inflated real estate prices. The naysayers have been proven wrong again. Watch cowardly idiots post abusive personal attacks in my KEY WORDS section. By the way, mortgage companies and realtors are laying off staffs all across the U.S. That must be why realtors report the housing market is falling apart in industry blogs. Yada, yada, yada
You're cherry-picking your excerpts. Also from the linked article:
"Overall, most consumers remain optimistic about the future trend of housing prices in their local markets. While about one in three consumers feel a housing bubble could burst in their local areas, only 11% say housing prices in their local market will decline over the next year. Another 27% expect housing prices to stay the same. Still, 6 in 10 consumers expect housing prices to increase in their local areas. While these expectations are less optimistic than those observed a year ago, they likely do not reflect a belief that bubble-bursting in selected markets across the nation will lead to a widespread decline in housing prices."
They can sell to me, for example. I'll bid. Maybe not as high as they'd like, but hey, with the bubble about to burst and everything, how could they possibly turn me down?
Gallop requires the FR publish no more than 300 words or less. Talk to Gallop about your concerns.
I've been hearing an awful lot of radio ads for insane mortgages, and I've read that many people are using them to buy homes. Many of these people will not be able to afford the homes they're in if interest rates go up. I expect there to be a lot of foreclosures, and I can't imagine that could happen without a serious drop in housing prices.
I told my ex wife the bubble was about to burst and she should sell immediately and move away.
1BLOGPIMP; 1PIMP; BLOGHOE; BLOGPIMP; BLOGWHORE; BROKENRECORD; ILOVETOPIMPMYBLOG; REALESTATE; SHUTTHEHELLUP; SPAMMER; SPAMSPAMSPAMSPAM;
Man.. you are truly obsessed with your theories of housing BUBBLES!
Why is it so important to you to see people lose the equity in their homes?
What business are you in?
Are you going to profit from the LOSS of others?
You seem to be wringing your hands and jumping up and down, just waiting for the misery of others!
You really need to get out and gain a new perspective of what is important in life.
Talk to Gallop. The conducted the poll.
Well, you were right about the keyword kooks.
Interest rates are certainly headed up thanks to the soaring energy costs, and the energy costs will eventually lead to increases in all sorts of other things. It will sure be interesting to see how this affects the Interest-Only folks, but it can't be good.
I am always open to more land on the cheap, though.
I've never added a keyword to one of your bloggasms, ex-Texan. Not once.
Watch out for falling sky... I also hear that Americans are dumb in math and science, and that global dimming will bite you in the butt if the real estate market or gold market or oil market or google market or super market doesn't get you first.
Self-fullfilling prophecy?
That's why I live in a Big-Ass Gold House.
"Self-fullfilling prophecy?"
An exceedingly perceptive statement.
MAY 1, 2006 IS CONSERVATIVE SHOPPING DAY.
Let's shop 'til we drop and then do it all over again!
http://www.humaneventsonline.com/article.php?print=yes&id=14045
Keep posting away ex-Texan, I like the articles you have found.
"There is no housing bubble."
Define "housing prices will collapse". What magnitude and duration of housing prices drop would qualify as "collapse"? If the prices are frozen for, a few years - it is not a collapse. If the prices drop by 10%, but then recover within these same few years - it is not quite a collapse either.
Do you own a house? If you believe there's a "housing bubble", you shouldn't. You should sell as quickly as possible at whatever price you can get. That is, if you actually believe what you're saying.
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