Posted on 12/10/2004 9:05:07 PM PST by nanak
I sent out a scorcher on the so-called housing bubble. Columnists with national reach (most of them, in the Internet age) need to either be less sloppy in what they say, or in what they THINK.
Any housing market that has appreciated by double in the last two to three years is subject to correction. Those markets are a small part of the whole. Many markets have appreciated 3-10% total in the last three years.
Does that mean that house prices will drop everywhere? No way!
BTW...I wasn't picking on you specifically...I remember how I waited (fifteen years ago) for what was then considered a 'bubble' to burst before I bought. I kick myself, because what I saw then as an inflated price seems pretty cheap right now.
...and what I see now is the value of dollar is @#%&** as compared to then.
Well, you have places like Jet Blue who use telecommuting concept for its reservation agents and use Americans. But those are rare exceptions. If distance no longer matters, why not go with the cheapest possible labor force, whether it's in manufacturing or knowledge-based work, like programming?
"Ahhhhhhhh...but that's exactly why I like Adams.He wasn't a hypocrite,he was very moral and upright,and he wasn't about to ignore other's imperfections,when he though a verbal kick in the rear would help."
In regards to Adams: I'm usually a very sedate guy, but just looking at an Adams portrait makes me want to show up at his dinner party in a torn suit, with two strippers, drinking Remy straight from the bottle. There is something about his smug rectitude that inspires one to joy buzzers, whoppee cushions and prank phone calls. Note: Dr. Johnson also has this effect on me.
Trust me...he's a troll.He may even be a retread.
During the IT BUBBLE,many people were being over paid and still have unrealistic ideas about their own worth.
And no,H1B hires are NOT supplanting Americans at all.
This is nothing new at all...you just don't really know enough about this topic,top talk about it. Real estate has always been in flux;up and down cycles happen all of the time.Real estate speculation,is as old as mankind.And more people,in America,now own their own homes,than at any other time.Pricing is relative.You can't compare today's prices with yesterday's,without making the money values the same.
Add to all of the above,the fact that people are demanding more and more and more than they've ever done before and that jacks prices up even farther.
And kid,I've never posted that I approve of real estate speculation,nor people borrowing more than they can afford to.I don't approve of any of that.Also,many now view a home as an investment,NOT as just their home.That's backward thinking!
I hear you!!
...and I also don't approve of speculation in currency markets. FEDERAL RESERVE is the root of all evils.
So far on this thread Durasell is called "durasell-out" and Alan Greenspan is "Green-scum." No doubt nanak is trolling for tension. As for zot-worthiness ask him about the following items:
Neocons
Rothchilds
Bankrolling the Civil War
The secrets about Morgan Stanley
The Protocols
Illuminati
CFR
NWO
BBs
Jekyl Island and the Federal Reserve
The JFK Assasination and the Treasury Reserve Notes
The Bush Family (324)
and DAH JOOOOOOWZ
Paul Krugman said in 2001 that the housing bubble would burst in 02, then 03, then 04.....
He also said Bush is a flesh-eating cyborg robot monster designed by Halliburton and far-right militia groups in Montana, who with Bush will form a cabal to destroy the planet Earth.
But that don't make it true.
Jeckyl Island for 500 Alex (siren goes off) Hey, it's double jeopardy!
U.S. Constitution - Article 1 Section 8
Article 1 - The Legislative Branch
Section 8 - Powers of Congress
The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence and general Welfare of the United States; but all Duties, Imposts and Excises shall be uniform throughout the United States;
To borrow money on the credit of the United States;
To regulate Commerce with foreign Nations, and among the several States, and with the Indian Tribes;
To establish an uniform Rule of Naturalization, and uniform Laws on the subject of Bankruptcies throughout the United States;
To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;
To provide for the Punishment of counterfeiting the Securities and current Coin of the United States;
To establish Post Offices and Post Roads;
To promote the Progress of Science and useful Arts, by securing for limited Times to Authors and Inventors the exclusive Right to their respective Writings and Discoveries;
To constitute Tribunals inferior to the supreme Court;
To define and punish Piracies and Felonies committed on the high Seas, and Offenses against the Law of Nations;
To declare War, grant Letters of Marque and Reprisal, and make Rules concerning Captures on Land and Water;
To raise and support Armies, but no Appropriation of Money to that Use shall be for a longer Term than two Years;
To provide and maintain a Navy;
To make Rules for the Government and Regulation of the land and naval Forces;
To provide for calling forth the Militia to execute the Laws of the Union, suppress Insurrections and repel Invasions;
To provide for organizing, arming, and disciplining the Militia, and for governing such Part of them as may be employed in the Service of the United States, reserving to the States respectively, the Appointment of the Officers, and the Authority of training the Militia according to the discipline prescribed by Congress;
To exercise exclusive Legislation in all Cases whatsoever, over such District (not exceeding ten Miles square) as may, by Cession of particular States, and the acceptance of Congress, become the Seat of the Government of the United States, and to exercise like Authority over all Places purchased by the Consent of the Legislature of the State in which the Same shall be, for the Erection of Forts, Magazines, Arsenals, dock-Yards, and other needful Buildings; And
To make all Laws which shall be necessary and proper for carrying into Execution the foregoing Powers, and all other Powers vested by this Constitution in the Government of the United States, or in any Department or Officer thereof.
The slow down is already taking place. But what I see the depression will not be widespread as it was in the 30's. Right now everyday somebody is losing his good paying job. So what is not a depression to me it is to somebody with a wife and kids. This easy credit has gotten out of hand. People surviving on credit cards to live. Houses that needed a 20% down payment can be bought with 0% down and first payment not due til 2006. Give me a break.
Montana? See?! He was built in Idaho! They never get anything right.
Right. Even Ben Bernanke mentioned FED would use helocopters to drop money rather than go into deflation.
People always brag about something they don't have. And someone whose dumb and idiot always pretends he/she is an EINSTEIN. Same way, the bankrupt keep singing the praises of ther junk credit.
I know one and only one thing. Debt = Slavery
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