Proof that there is no housing bubble
bronco2078
Posts: 10,225 ✭✭✭✭✭
bronco2078
Posts: 10,225 ✭✭✭✭✭
bronco2078
Posts: 10,225 ✭✭✭✭✭
Comments
"There is nothing free market about the 37% increase in home prices. It has absolutely nothing to do with supply and demand. It has nothing to do with normal families looking for a home. It has everything to do with the Federal Reserve’s 0% interest rates, the $3.5 trillion of QE injected into the economic gambling system, Wall Street banks withholding foreclosures from the market, hedge funds buying up tens of thousands of foreclosed homes and renting them out to the former middle class, Fannie and Freddie guaranteeing 70% of all sales, the government encouraging 3.5% subprime loans again, Chinese and Russian billionaires parking their ill gotten wealth in US real estate, and flippers reappearing in the same old places (Las Vegas, Phoenix, Florida, California)."
But this time it will be different.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Prices are the same as 12 years ago. The author tries to justify his ignorance by hypothesizing on monetary instruments on which he has very little knowledge.
Ignorance and lack of knowledge are very disruptive to critical, sound, rational, and logical thinking.
Knowledge is the enemy of fear
Mark
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
it didn't sound so bad when I wrote it , it was meant as a joke but it does look pretty rude now that you mention it .
Edited to remove rudeness
Liberty: Parent of Science & Industry
Cheap money, lot's of money on the sidelines and demand outstripping supply in the current environment. No doubt it will change one day. Best of all, I missed the last two winters back east. Can't tell you how happy that made me. While friends and family were shoveling I enjoyed my world class panoramic views of the mountains in 80 degree weather watching sports on my outdoor TV smoking cigars. Dip in the pool to cool off. Sure there are lots of douchy people in LA but I like the offsets.
I have a major job offer on the table that would take me to Seattle. If I end up with the new gig I will strongly consider keeping the LA home. I love it.
Mark
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
There was a remote chance of moving to So Cal for work before we moved where we are now.
Earthquakes, now drought. I'm not a fan of the over populated ex-desert. Do they crank up water prices or institute a "excess tax" to curb usage?
I'm glad I'm not there now. But I'm not glad I'm here now either. I didn't want to move any more north than where we were but we did.
<< <i>got water?
There was a remote chance of moving to So Cal for work before we moved where we are now.
Earthquakes, now drought. I'm not a fan of the over populated ex-desert. Do they crank up water prices or institute a "excess tax" to curb usage?
I'm glad I'm not there now. But I'm not glad I'm here now either. I didn't want to move any more north than where we were but we did. >>
Water isn't an issue today. It won't be tomorrow either. How much down the road will it be if ever? Not sure. Residents have been hearing the same thing for years. When we get down to the last drop I'm sure it will be really addressed.
So far, we are still able to run our sprinklers and water is actually pretty cheap. They should jack it up to curb usage. The only thing that has really changed is that waiters and waitresses are no longer allowed to ask if you want a glass of water. You have to ask for it. Way to get in front of it : )
Mark
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
<< <i>Something Smells Fishy
"There is nothing free market about the 37% increase in home prices. It has absolutely nothing to do with supply and demand. It has nothing to do with normal families looking for a home. It has everything to do with the Federal Reserve’s 0% interest rates, the $3.5 trillion of QE injected into the economic gambling system, Wall Street banks withholding foreclosures from the market, hedge funds buying up tens of thousands of foreclosed homes and renting them out to the former middle class, Fannie and Freddie guaranteeing 70% of all sales, the government encouraging 3.5% subprime loans again, Chinese and Russian billionaires parking their ill gotten wealth in US real estate, and flippers reappearing in the same old places (Las Vegas, Phoenix, Florida, California)."
But this time it will be different.
From the linked article:
<< <i>They have thrown young people and most of the middle class overboard, while the bankers, billionaires, politicians, and connected cronies party like it was 2005... >>
Whoa! Yes indeed, party on!
<< <i>edit: I see we're going to edit out the BS and move on, good deal, if Mark makes it go away too, would be like it never happened
Done. Bronco is still aces in my opinion.
Mark
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
<< <i>
<< <i>edit: I see we're going to edit out the BS and move on, good deal, if Mark makes it go away too, would be like it never happened
Done. Bronco is still aces in my opinion.
Mark >>
"A battle avoided cannot be lost."
Sun Tzu
<< <i>for $500 million, I would not want the neighbors being so close >>
aint that the truth.
Auto equity loans.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Just the player
<< <i>How about an automobile bubble?
Auto equity loans.
If you are old enough to have snow white hair and you need a title loan you are screwed anyway
My Adolph A. Weinman signature
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey