Stock Market crash 777 points
09-29-2008, 06:42 PM
#46
it will balance itself out.
why was the housing prices so high? all of the subprime loans that the gov forced (yes, forced) banks to give out.
now, this bubble burst and while the next few days/weeks will seem bleek... i see by christmas making a comeback for most retailers...
why was the housing prices so high? all of the subprime loans that the gov forced (yes, forced) banks to give out.
now, this bubble burst and while the next few days/weeks will seem bleek... i see by christmas making a comeback for most retailers...
09-29-2008, 06:54 PM
#47
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when do you think rock bottom will be? My fam is in the market as well. I'm just worried that if the government prints too much money, then the value of the dollar will sink, thus making everything cost more. Will this balance out a little with the mortgage loan situation? What do ya think?
I'd wait at least a few more months.
09-29-2008, 11:19 PM
#51
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I'm personally with Gagan on the whole bailout perspective. Dont bail out, and it'll let people like me to come this much closer to owning a home. Honestly, the way i see it is a lot of people weren't capable of borrowing what they borrowed, and they were living on cloud 9 when they thought that the market was going to keep growing at the rate it did first quarter of 06.
And yet, the housing market is still nuts. People are submitting all cash offers, ABOVE what the bank's asking price is on all these foreclosure homes...and then way i see it, with the uncertainty level of the future economy and how long it'll take to slowly climb it's way back up from the ****hole, i simply dont get it. Why are people dumping MORE money into these houses? It's turning into an ebay auction IMO.
And yet, the housing market is still nuts. People are submitting all cash offers, ABOVE what the bank's asking price is on all these foreclosure homes...and then way i see it, with the uncertainty level of the future economy and how long it'll take to slowly climb it's way back up from the ****hole, i simply dont get it. Why are people dumping MORE money into these houses? It's turning into an ebay auction IMO.
09-29-2008, 11:27 PM
#52
I'm personally with Gagan on the whole bailout perspective. Dont bail out, and it'll let people like me to come this much closer to owning a home. Honestly, the way i see it is a lot of people weren't capable of borrowing what they borrowed, and they were living on cloud 9 when they thought that the market was going to keep growing at the rate it did first quarter of 06.
And yet, the housing market is still nuts. People are submitting all cash offers, ABOVE what the bank's asking price is on all these foreclosure homes...and then way i see it, with the uncertainty level of the future economy and how long it'll take to slowly climb it's way back up from the ****hole, i simply dont get it. Why are people dumping MORE money into these houses? It's turning into an ebay auction IMO.
And yet, the housing market is still nuts. People are submitting all cash offers, ABOVE what the bank's asking price is on all these foreclosure homes...and then way i see it, with the uncertainty level of the future economy and how long it'll take to slowly climb it's way back up from the ****hole, i simply dont get it. Why are people dumping MORE money into these houses? It's turning into an ebay auction IMO.
09-30-2008, 08:30 AM
#56
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Join Date: Nov 2002
Location: Bizerkeley
Posts: 4,770
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Keep in mind that just because people are making silly offers doesn't mean they are getting loans to buy them, remember there is a small class of people who we can expect will be coming in with unlimited funds (courtesy all this mortgage-backed-garbage-paper thats floating around) to buy up properties and convert them into rentals, after all- the people getting foreclosed can't live in tents forever, and while they cannot afford the stupid ARM's that clobbered them out of ownership, they probably can foot the bill just fine for an investor looking to collect nearly a mortgage worth of rent money every month.
Until the whole derivatives and garbage-backed securities- racket/Pyramid/Ponzi/Casino scheme- whatever you want to call it is either legally and completely dismantled or allowed to crash from its own stupidity, I think we can expect to see things continue on a downward trend.
Any time a big drop occurs, there will be those who see it as an opportunity and there will always be these bounces, but until that whole back market unregulated money-for-nothing scheme gets put to rest we should expect things to only get worse no matter how much the fed prints up.
I don't know why they don't do 1000, 10,000 and 50,000 dollar bills anymore, heck these days why not print out a couple runs of million dollar notes
In fact why not just print one million dollar bill for every taxpayer in the USA, the cost to the Fed would be a fraction, maybe a million dollars in total, but just think how a nation of millionaires would be- that would get folks investing and buying stuff! the $300 plan obviously didn't cut it, so why waste our time doing things small....
Until the whole derivatives and garbage-backed securities- racket/Pyramid/Ponzi/Casino scheme- whatever you want to call it is either legally and completely dismantled or allowed to crash from its own stupidity, I think we can expect to see things continue on a downward trend.
Any time a big drop occurs, there will be those who see it as an opportunity and there will always be these bounces, but until that whole back market unregulated money-for-nothing scheme gets put to rest we should expect things to only get worse no matter how much the fed prints up.
I don't know why they don't do 1000, 10,000 and 50,000 dollar bills anymore, heck these days why not print out a couple runs of million dollar notes
In fact why not just print one million dollar bill for every taxpayer in the USA, the cost to the Fed would be a fraction, maybe a million dollars in total, but just think how a nation of millionaires would be- that would get folks investing and buying stuff! the $300 plan obviously didn't cut it, so why waste our time doing things small....
09-30-2008, 08:46 AM
#57
Keep in mind that just because people are making silly offers doesn't mean they are getting loans to buy them, remember there is a small class of people who we can expect will be coming in with unlimited funds (courtesy all this mortgage-backed-garbage-paper thats floating around) to buy up properties and convert them into rentals, after all- the people getting foreclosed can't live in tents forever, and while they cannot afford the stupid ARM's that clobbered them out of ownership, they probably can foot the bill just fine for an investor looking to collect nearly a mortgage worth of rent money every month.
Until the whole derivatives and garbage-backed securities- racket/Pyramid/Ponzi/Casino scheme- whatever you want to call it is either legally and completely dismantled or allowed to crash from its own stupidity, I think we can expect to see things continue on a downward trend.
Any time a big drop occurs, there will be those who see it as an opportunity and there will always be these bounces, but until that whole back market unregulated money-for-nothing scheme gets put to rest we should expect things to only get worse no matter how much the fed prints up.
I don't know why they don't do 1000, 10,000 and 50,000 dollar bills anymore, heck these days why not print out a couple runs of million dollar notes
In fact why not just print one million dollar bill for every taxpayer in the USA, the cost to the Fed would be a fraction, maybe a million dollars in total, but just think how a nation of millionaires would be- that would get folks investing and buying stuff! the $300 plan obviously didn't cut it, so why waste our time doing things small....
Until the whole derivatives and garbage-backed securities- racket/Pyramid/Ponzi/Casino scheme- whatever you want to call it is either legally and completely dismantled or allowed to crash from its own stupidity, I think we can expect to see things continue on a downward trend.
Any time a big drop occurs, there will be those who see it as an opportunity and there will always be these bounces, but until that whole back market unregulated money-for-nothing scheme gets put to rest we should expect things to only get worse no matter how much the fed prints up.
I don't know why they don't do 1000, 10,000 and 50,000 dollar bills anymore, heck these days why not print out a couple runs of million dollar notes
In fact why not just print one million dollar bill for every taxpayer in the USA, the cost to the Fed would be a fraction, maybe a million dollars in total, but just think how a nation of millionaires would be- that would get folks investing and buying stuff! the $300 plan obviously didn't cut it, so why waste our time doing things small....
inflation would be like germany post WWII
if they announced a million dollars to each citizen i would want like a week notice
i would buy a "cheap 500k house and a 200k cheap ferrari" pay for it when the mil came through
09-30-2008, 09:22 AM
#58
banned
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Join Date: Jan 2008
Location: NorCal, SF East Bay
Posts: 1,456
Car Info: 2007 WRX Limited | vf43'D
Keep in mind that just because people are making silly offers doesn't mean they are getting loans to buy them, remember there is a small class of people who we can expect will be coming in with unlimited funds (courtesy all this mortgage-backed-garbage-paper thats floating around) to buy up properties and convert them into rentals, after all- the people getting foreclosed can't live in tents forever, and while they cannot afford the stupid ARM's that clobbered them out of ownership, they probably can foot the bill just fine for an investor looking to collect nearly a mortgage worth of rent money every month.
Until the whole derivatives and garbage-backed securities- racket/Pyramid/Ponzi/Casino scheme- whatever you want to call it is either legally and completely dismantled or allowed to crash from its own stupidity, I think we can expect to see things continue on a downward trend.
Any time a big drop occurs, there will be those who see it as an opportunity and there will always be these bounces, but until that whole back market unregulated money-for-nothing scheme gets put to rest we should expect things to only get worse no matter how much the fed prints up.
I don't know why they don't do 1000, 10,000 and 50,000 dollar bills anymore, heck these days why not print out a couple runs of million dollar notes
In fact why not just print one million dollar bill for every taxpayer in the USA, the cost to the Fed would be a fraction, maybe a million dollars in total, but just think how a nation of millionaires would be- that would get folks investing and buying stuff! the $300 plan obviously didn't cut it, so why waste our time doing things small....
Until the whole derivatives and garbage-backed securities- racket/Pyramid/Ponzi/Casino scheme- whatever you want to call it is either legally and completely dismantled or allowed to crash from its own stupidity, I think we can expect to see things continue on a downward trend.
Any time a big drop occurs, there will be those who see it as an opportunity and there will always be these bounces, but until that whole back market unregulated money-for-nothing scheme gets put to rest we should expect things to only get worse no matter how much the fed prints up.
I don't know why they don't do 1000, 10,000 and 50,000 dollar bills anymore, heck these days why not print out a couple runs of million dollar notes
In fact why not just print one million dollar bill for every taxpayer in the USA, the cost to the Fed would be a fraction, maybe a million dollars in total, but just think how a nation of millionaires would be- that would get folks investing and buying stuff! the $300 plan obviously didn't cut it, so why waste our time doing things small....
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