UCLA predicts that GDP will dip by 0.4% in the second quarter of this year, but then rebound. Anderson expects GDP to be growing at 2.5% by the end of this year.
Those discussing the large drop in home prices that need to happen are failing to mention that the nominal price will not fall that far because Bernake is inflating the market; real prices will fall 30%+, however.
A house is worth no more than what someone is willing to pay you for it. No buyer? Value = $0. House prices have held steady throughout the past 100 years in the US at 3x median income of whatever area you study… because every house you build must be affordable to the workers within the surrounding area.
So how bad is it? I hear all these ramblings, fancy financial terms and so on. But what does it all really mean? Does the US collapse? Do we see soup lines and down trodden people like the experience was during the Great Depression? Seems to me the US financial catastrophe is pretty simple. Our government and the citizens of the US have consistently spent more than they take in. At some point the debt becomes so great we are unable to pay it back, or manage it. When we are no longer able to pay our debts what happens? Do we surrender assets, land and military hardware to the foreign nationals we’ve been burrowing money from over the last two decades? Maybe a fire sale of America? The whole system is a sham and we only have ourselves and those shysters in Wall Street and the Scum of Washington DC to blame..Sorry to say but, neither McCain, Clinton nor Obama will be able to save us from this SNAFU. The concept of uncontrolled spending and deficit through credit has finally caught up with us. This decade is perhaps a time for reckoning in which our short sighted ways and embrace of Wall Street’s psychopathic free market capitalism garnered by greed and unequaled corruption will finally get the best of us..
And to top it all off—soon to be ex-President George W Bush will be leaving U.S. with a $10trillion dollar debt to be paid with declining home prices. Give me back Clinton’s 90s balanced budget economy any time compared to the nuts currently running Washington.
A very detailed calculations by Mr. Greg Brooks. The contents are crystal clear to clear doubts.
Educative Blogs like this are very much needed in this era of Financial Crunch.
Steve
Comment by Los Angeles Private lending — January 28, 2009 @ 12:07 am
San Diego housing – This is a terrific article. I am so thrilled the internet still has fantastic content.
UCLA predicts that GDP will dip by 0.4% in the second quarter of this year, but then rebound. Anderson expects GDP to be growing at 2.5% by the end of this year.
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Comment by lasik eye — November 14, 2008 @ 1:03 pm
Those discussing the large drop in home prices that need to happen are failing to mention that the nominal price will not fall that far because Bernake is inflating the market; real prices will fall 30%+, however.
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Comment by gold detector — November 14, 2008 @ 1:04 pm
Just get it over and done with, a recession is required to weed out the crap in the market.
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Comment by San Diego dentist — November 14, 2008 @ 1:05 pm
The housing market is in balance, when you can buy your house with your income. Can you? There is still long way to go!
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Comment by Tijuana dentist — November 14, 2008 @ 1:06 pm
A house is worth no more than what someone is willing to pay you for it. No buyer? Value = $0. House prices have held steady throughout the past 100 years in the US at 3x median income of whatever area you study… because every house you build must be affordable to the workers within the surrounding area.
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Comment by Acne treatments — November 14, 2008 @ 1:07 pm
Homes take 18 months on average to work through the foreclosure process.. Imagine what foreclosures will look like 18 months from now!
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Comment by Plastic surgery San Diego — November 14, 2008 @ 1:07 pm
The Fed has used over half of its available bullets.. and we’re nowhere near the end of this crisis.
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Comment by San Diego Vein Treatments — November 14, 2008 @ 1:08 pm
So how bad is it? I hear all these ramblings, fancy financial terms and so on. But what does it all really mean? Does the US collapse? Do we see soup lines and down trodden people like the experience was during the Great Depression? Seems to me the US financial catastrophe is pretty simple. Our government and the citizens of the US have consistently spent more than they take in. At some point the debt becomes so great we are unable to pay it back, or manage it. When we are no longer able to pay our debts what happens? Do we surrender assets, land and military hardware to the foreign nationals we’ve been burrowing money from over the last two decades? Maybe a fire sale of America? The whole system is a sham and we only have ourselves and those shysters in Wall Street and the Scum of Washington DC to blame..Sorry to say but, neither McCain, Clinton nor Obama will be able to save us from this SNAFU. The concept of uncontrolled spending and deficit through credit has finally caught up with us. This decade is perhaps a time for reckoning in which our short sighted ways and embrace of Wall Street’s psychopathic free market capitalism garnered by greed and unequaled corruption will finally get the best of us..
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Comment by real estate in san diego — November 14, 2008 @ 1:10 pm
And to top it all off—soon to be ex-President George W Bush will be leaving U.S. with a $10trillion dollar debt to be paid with declining home prices. Give me back Clinton’s 90s balanced budget economy any time compared to the nuts currently running Washington.
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Comment by California immigration lawyers — November 14, 2008 @ 1:11 pm
A very detailed calculations by Mr. Greg Brooks. The contents are crystal clear to clear doubts.
Educative Blogs like this are very much needed in this era of Financial Crunch.
Steve
Comment by Los Angeles Private lending — January 28, 2009 @ 12:07 am
San Diego housing – This is a terrific article. I am so thrilled the internet still has fantastic content.
Comment by San Francisco real estate lawyers — May 17, 2011 @ 9:20 pm