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-- Next stop: Recession
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Next stop: Recession
I'm not glamorizing this looming recession either, this directly affects my business and watching this unravel for the last 6 months has been shitty.
This won't be just tied to subprime meltdown, mortgages companies, foreclosures, etc, this will spill out into many areas of our economy over the next year or two.
And to add insult to injury we're dragging down other country's economies with us:
http://bloomberg.com/apps/news?pid=...L55U&refer=home
http://bloomberg.com/apps/news?pid=...VLac&refer=home
http://bloomberg.com/apps/news?pid=...ww&refer=stocks
http://bloomberg.com/apps/news?pid=...us&refer=stocks
http://bloomberg.com/apps/news?pid=...dk&refer=stocks
stay tuned: www.mortgageimplode.com
I sold all of my stock about 3 weeks just as the market was about to soften up. Sure enough, my main stock dropped over $2 a share on Monday but I had already cashed out before taking the loss.
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| Originally posted by Electrophile I sold all of my stock about 3 weeks just as the market was about to soften up. Sure enough, my main stock dropped over $2 a share on Monday but I had already cashed out before taking the loss. |
Re: Next stop: Recession
Was it smart to give easy credit to everyone with a heartbeat? For those looking to buy a home sometime in the near future, be informed:
http://thehousingbubbleblog.com/
But it's not just housing that's affected, it's our entire economy, as well as international. Many 401Ks will be taking a big phat dump, including mine. Oh wait, it already has for the past few weeks, more pain to come for the next few years. 
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| Originally posted by ninetyninej stay tuned: www.mortgageimplode.com |
Re: Re: Next stop: Recession
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| Originally posted by djGT Was it smart to give easy credit to everyone with a heartbeat? For those looking to buy a home sometime in the near future, be informed: http://thehousingbubbleblog.com/ But it's not just housing that's affected, it's our entire economy, as well as international. Many 401Ks will be taking a big phat dump, including mine. Oh wait, it already has for the past few weeks. Be careful of those hedge funds, but it's probably too late anyways. http://hf-implode.com/ |
Check out this site for an interesting read about the current economy:
http://globaleconomicanalysis.blogspot.com/
Wherever we're headed too, I hope the last stop isn't the next Great Depression. 
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| Originally posted by djGT Check out this site for an interesting read about the current economy: http://globaleconomicanalysis.blogspot.com/ Wherever we're headed too, I hope the last stop isn't the next Great Depression. |
selling ur stocks just because the market it down is not the smart way to invest at all. if ur not planning on retiring right now, what the market is doing should be of no concern. im 23 and continually invest monthly with dollar cost averaging and it doesnt bother me at all when the market goes down, because all that means is that the stocks are "on sale" right now and when the market comes back up ill have bought even more shares from it being down. unless ur 60-65 and planning on retiring soon, this shouldnt matter at all to u.
Sorry about your business, but on the bright side..
We knew this was coming because of all the subprimes, interest only and other bullshit they shove down the throats of the uneducated, fresh out of college.. etc.
maybe i'll be able to buy a house now.
p.s. I dont play stock markets.
p.s.s. ok I lied.. I forgot about my 401k... and bonds..
but still, shame on the morgage companies and the housing market.
^^ Agreed! Buy low sell high, if you didn't already sell out back when we were up 14% for the year, it is probably not advantageous to sell out now, only to buy higher later. I say it's just jittery investors. The reason housing prices have decreased now, is TOTALLY different than the reasons during the great depression. It's people reporting news and making things sound bigger than they actually are. Investors are just too jittery imo...
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| Originally posted by gimmebeatz selling ur stocks just because the market it down is not the smart way to invest at all. if ur not planning on retiring right now, what the market is doing should be of no concern. im 23 and continually invest monthly with dollar cost averaging and it doesnt bother me at all when the market goes down, because all that means is that the stocks are "on sale" right now and when the market comes back up ill have bought even more shares from it being down. unless ur 60-65 and planning on retiring soon, this shouldnt matter at all to u. |
i sold ALL my stocks this morning, some at a decent loss . i've been too busy with work to research and follow my stocks lately (i'm kind of a wannabe day trader, or rather a weekly trader) and while i had shifted over into some solid stocks like BA, KO, CL... when I saw those moving down to more than just reactionary levels, I decided that I don't want to be babysitting my portfolio right now.
In general, I'm one of the most optimistic about the foundation for the US economy, and that we can withstand blows more easily than other nations/regions economies, but it's all just a bit to screwy lately.
heh, just got back into BA (Boeing)...
i'm far from a panic, but i just need to find a few hours to sit down and read some analysis/research/news
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| Originally posted by naeblis ^^ Agreed! Buy low sell high, if you didn't already sell out back when we were up 14% for the year, it is probably not advantageous to sell out now, only to buy higher later. I say it's just jittery investors. The reason housing prices have decreased now, is TOTALLY different than the reasons during the great depression. It's people reporting news and making things sound bigger than they actually are. Investors are just too jittery imo... |
| quote: |
| Originally posted by naeblis ^^ Agreed! Buy low sell high, if you didn't already sell out back when we were up 14% for the year, it is probably not advantageous to sell out now, only to buy higher later. I say it's just jittery investors. The reason housing prices have decreased now, is TOTALLY different than the reasons during the great depression. It's people reporting news and making things sound bigger than they actually are. Investors are just too jittery imo... |
Not get nitpicky about verbage, but I don't necessarily characterize this downturn as a 'depression'. When people hear depression, they think of the abysmal conditions people were facing in the 30's. We don't even know if this is going to be a recession, yet alone a depression.
GDP is still up, see: http://www.bea.gov/national/nipaweb...r=2007&Freq=Qtr
As far as unemployment read: http://www.bls.gov/news.release/empsit.nr0.htm
Maybe the effects haven't hit? The market is notoriously over emotional at times, and so I guess I will wait and see how it plays out... I think it is far too early to be crying depression, or anything like that.
here's a nice chart if you like rollercoasters:
I don't see that as particularly helpful, because median home price in 1920 was nothing like it is now-a-days. I mean, a 100,000 dollar home back in the day was a mansion of opulence and luxury, where as today things are much different, a comparison of wages now and then, would most likely show the same difference.
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| Originally posted by naeblis Not get nitpicky about verbage, but I don't necessarily characterize this downturn as a 'depression'. When people hear depression, they think of the abysmal conditions people were facing in the 30's. We don't even know if this is going to be a recession, yet alone a depression. GDP is still up, see: http://www.bea.gov/national/nipaweb...r=2007&Freq=Qtr As far as unemployment read: http://www.bls.gov/news.release/empsit.nr0.htm Maybe the effects haven't hit? The market is notoriously over emotional at times, and so I guess I will wait and see how it plays out... I think it is far too early to be crying depression, or anything like that. |
The chart has been adjusted for inflation which affects wages and such.
You cannot afford to buy a house in socal, period.. not even making the median income for your area... even dinks are having a hardtime unless the combined household income is over 150k.
American Home Morgage.. those ****s.
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| Originally posted by djGT The chart has been adjusted for inflation which affects wages and such. |
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| Originally posted by JD8899 Yah, but has it been adjusted for square footage? How many people today are buying new 3 bedroom homes that are 1200 square feet (pretty common in 1950)? |
i'm in mortgages and a rule we always live by is 'as long as something is happening we're ok'
whether it's drasticly bad or good, as long as its not stagnant there's business to be made.
i've done over 8 purchases just in the last 2 mos, 4 short sales and 1 foreclosure, there are some very good deals out there right now.
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| Originally posted by Zombie0729 i've done over 8 purchases just in the last 2 mos, 4 short sales and 1 foreclosure, there are some very good deals out there right now. |
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