Housing Bubble Bursting?

[Couch Potato]

US GDP is $13,308.3 billion according to the latest estimate.

 

[TC]

All bubbles is local

House at bottom of street, listed 399K, down to 339K, sold FSBO for 300K

Friend of mine buying a house in Beverly, MA. A flipper got burnt, bought for 360K, listed for 565K, friend bought it for 380K.

TC

 

[moh malekpour]

US GDP is $13,308.3 billion according to the latest estimate.

It has to be $13,308 trillion

 

[Couch Potato]

No.

It has to be $13,308 trillion

No, it does not have to be that.

Current-dollar GDP

Current-dollar GDP -- the market value of the nation's output of goods and services -- increased 3.4 percent, or $111.0 billion, in the third quarter to a level of $13,308.3 billion. In the second quarter, current-dollar GDP increased 5.9 percent, or $188.9 billion.

News Release

 

[JSmith43]

It has to be $13,308 trillion

Wouldn't that be Kool!

 

[Fred]

13,000 billion = 13 trillion

 

[moh malekpour]

Wouldn't that be Kool!

Give me a time frame to count that much money if they were all $1 bills. an hour, a day, a week? my calculation doesn't count more than 1 trillion of anything.

 

[JSmith43]

Give me a time frame to count that much money if they were all $1 bills. an hour, a day, a week? my calculation doesn't count more than 1 trillion of anything.

Moh, I entered the numbers in the HP comparing per capita GDP of various countries to the USA figure & had trouble myself.

I guess I'm stuck at being proficient with figures in the millions

 

[Steve Owen]

Still not too bad...

This part of the country is starting to feel some heat, but I would not really call it a disaster (which is what "bubble bust" sounds like) at this point in time.

http://www.kansascity.com/mld/kansascity/business/16070709.htm

When I look at the stats in and around Joplin, some of the construction and sale stats look fairly bleak. But, when I look around my neighborhood, looks like about 95+ percent of my neighbors plan on staying put for the near-term.

 

[Terrel L. Shields]

billion trillion? We got any brits here?