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Large housing slump! Let the good times roll!

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  • Large housing slump! Let the good times roll!

    Here's to more "DanS" cheerleading while it rains!

    Housing construction slump
    A lot of Republicans are not racist, but a lot of racists are Republican.

  • #2
    OH NOOOOOS!!!

    Republicans are calling for government intervention just like TeH Democrats would!

    Bush and Others Considering Intervention
    A lot of Republicans are not racist, but a lot of racists are Republican.

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    • #3
      LTGTR

      "Satirical" LTGTR
      "You're the biggest user of hindsight that I've ever known. Your favorite team, in any sport, is the one that just won. If you were a woman, you'd likely be a slut." - Slowwhand, to Imran

      Eschewing silly games since December 4, 2005

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      • #4
        Why can't you post your entire articles or relevant snippets like most people do?
        “I give you a new commandment, that you love one another. Just as I have loved you, you also should love one another. By this everyone will know that you are my disciples, if you have love for one another.”
        - John 13:34-35 (NRSV)

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        • #5
          Bush supported intervension from day one, he even made a nice little speech about it on the White House lawn.

          How is revaluation of the housing market to realistic levels which coincidently alows millions previously priced out of the market to have a chance at owning a home (ie ME) a bad thing again?
          "The DPRK is still in a state of war with the U.S. It's called a black out." - Che explaining why orbital nightime pictures of NK show few lights. Seriously.

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          • #6
            Originally posted by Imran Siddiqui
            Why can't you post your entire articles or relevant snippets like most people do?
            Why don't I jump off a cliff if most people would do that?
            A lot of Republicans are not racist, but a lot of racists are Republican.

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            • #7
              I do most of my poly browsing at work, and it is advisable not to click on random links, especially since the hyperlink is a tag vise the actual address so I can readily see where it is sending me.
              "The DPRK is still in a state of war with the U.S. It's called a black out." - Che explaining why orbital nightime pictures of NK show few lights. Seriously.

              Comment


              • #8
                This is great news for most of us Polytubbies -- who will be net buyers of real estate for decades to come.
                I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891

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                • #9
                  Originally posted by DanS
                  This is great news for most of us Polytubbies -- who will be net buyers of real estate for decades to come.
                  That assumes the our incomes are unrelated to the housing market.
                  Christianity: The belief that a cosmic Jewish Zombie who was his own father can make you live forever if you symbolically eat his flesh and telepathically tell him you accept him as your master, so he can remove an evil force from your soul that is present in humanity because a rib-woman was convinced by a talking snake to eat from a magical tree...

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                  • #10
                    Most of ours are, with some unfortunate exceptions. (NB: I have no desire or intent to rub anybody's face in it.)

                    The residential market was not on a sustainable course in any event, so it was only a matter of time for a correction. There's no good reason why an 1,100 square foot condo in my neighborhood should go for $800k, as just one example.

                    For the record, I also am against a stimulus plan.
                    Last edited by DanS; January 17, 2008, 12:59.
                    I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891

                    Comment


                    • #11
                      Originally posted by chegitz guevara That assumes the our incomes are unrelated to the housing market.
                      Even if they are, it can still be a good thing.

                      Consider these two scenarios.

                      Let's assume that inflation adjusted we're worth $50,000 a year.

                      If the housing market is good and we have to buy a house, we may be having to pay $15,000 a year for our mortgage.

                      Let's say however that during this slump we'll make only $40,000 a year, but because of it we'll only have to pay $10,000 a year.

                      The bottom might seem like a worse thing, but in 2 or 3 years, the market will get its act together, we're back up to making $50,000 but for the next 12 to 27 years we'll be paying much less on our mortgages, which is clearly in our favor.
                      APOSTOLNIK BEANIE BERET BICORNE BIRETTA BOATER BONNET BOWLER CAP CAPOTAIN CHADOR COIF CORONET CROWN DO-RAG FEDORA FEZ GALERO HAIRNET HAT HEADSCARF HELMET HENNIN HIJAB HOOD KABUTO KERCHIEF KOLPIK KUFI MITRE MORTARBOARD PERUKE PICKELHAUBE SKULLCAP SOMBRERO SHTREIMEL STAHLHELM STETSON TIARA TOQUE TOUPEE TRICORN TRILBY TURBAN VISOR WIG YARMULKE ZUCCHETTO

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                      • #12
                        Originally posted by DanS
                        Most of ours are, with some unfortunate exceptions. (NB: I have no desire or intent to rub anybody's face in it.)
                        Not quite what I meant, but thank you for the consideration. I meant that in the past decade or so, American growth has been driven by consumer spending which relied upon home owners cashing in equity for stuff and services. All that credit has basically disappeared, which means no more stuff and services, meaning other folks will soon be out of work. Heck, it hasn't merely driven our own economy, but the economy of much of Asia as well.
                        Christianity: The belief that a cosmic Jewish Zombie who was his own father can make you live forever if you symbolically eat his flesh and telepathically tell him you accept him as your master, so he can remove an evil force from your soul that is present in humanity because a rib-woman was convinced by a talking snake to eat from a magical tree...

                        Comment


                        • #13
                          Yes, the "wealth effect" has an impact. I don't think that anybody knows how much negative consequences removing it will have. Again, however, the effect wasn't sustainable in the first place.
                          I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891

                          Comment


                          • #14
                            Originally posted by DanS
                            Yes, the "wealth effect" has an impact. I don't think that anybody knows how much negative consequences removing it will have. Again, however, the effect wasn't sustainable in the first place.
                            Nothing in capitalism ever is. That's why we have recessions.
                            Christianity: The belief that a cosmic Jewish Zombie who was his own father can make you live forever if you symbolically eat his flesh and telepathically tell him you accept him as your master, so he can remove an evil force from your soul that is present in humanity because a rib-woman was convinced by a talking snake to eat from a magical tree...

                            Comment


                            • #15
                              I'm actually thinking of short selling my house. I mean that would impact my credit but I imagine in a year or two I could rebuy, especially if my father helped me, only prices might be 60% of their peak. Instead of $400k I might get a similar house for $260k. Of course I could wait it out the 5-10 years it would take for the market to recover but that's a long time to wait to get even and I'd still have to pay off the original balance. $140k off for a similar house sounds attractive.
                              Try http://wordforge.net/index.php for discussion and debate.

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