Housing Bubble Bursting?

[Mike Simpson]

BOOOOOO...Bad Form!!!

I just logged onto another discussion I was involved in. One in which I was warning people to 'watch the Crusaders...they're out to make trouble for people.'

I told the truth...didn't exagerate, and I've been "removed from the discussion." I can't even read what's since transpired.

It's funny, but so many of "The Crusaders" are also Bubblist. They're extremely negative, and take to attacking their fellow Forumites. I've just been made aware (yet again) that a Crusader has made trouble for another trainee.

With all the time I spend here debating a non existent bubble, with "Crusaders" attacking fellow Forumites, with all the games being played on the telelphone & via private messages...I no longer intend to contribute here.

TRAINEES BEWARE!!!

-Mike

 

[JSmith43]

I just logged onto another discussion I was involved in. One in which I was warning people to 'watch the Crusaders...they're out to make trouble for people.'

I told the truth...didn't exagerate, and I've been "removed from the discussion." I can't even read what's since transpired.

It's funny, but so many of "The Crusaders" are also Bubblist. They're extremely negative, and take to attacking their fellow Forumites. I've just been made aware (yet again) that a Crusader has made trouble for another trainee.

With all the time I spend here debating a non existent bubble, with "Crusaders" attacking fellow Forumites, with all the games being played on the telelphone & via private messages...I no longer intend to contribute here.

TRAINEES BEWARE!!!

-Mike

That sucks. I'm probably on double secret probation myself. I think I will convert to just reading now and then and observe the narrowing of views due to the reduction in the gene pool:new_rofl:

Maybe turn in a crusader or two just for sport Naaaaaa.

 

[moh malekpour]

What you guys are talking about?

 

[TC]

Now I'm getting a little paranoid. I posted here an hour ago telling you not to quit posting, and now I don't see it.

In any event, don't let anyone run you off.


TC

 

[Randolph Kinney]

Roger, my appology, I did a screen capture from Merrill Lynch on the interest rates and the ARM rate is not correct.

Here are the current rates from BLOOMBERG.COM

 

[Bobby Bucks]

I was wondering what happened to that post discussing







.

 

[Randolph Kinney]

What's up with Mike?

I don't pretend to know what is going on with Mike S. or what Mike S. is referring to however, it appears Mike S. is a bit sensitive.

The only "bubble" there might be on a national level is the amount of spending and borrowing done by the federal government. Of course, the FED has to accommodate what the U.S. Treasury needs are to finance the public debt and have something left over for the rest of the economy. Foreign investment here has helped in a large way. The fun really starts when the dollar declines 30% and foreign funds for investment here decline as well. Both interest rates and inflation will rise accordingly. Housing might be the safe-haven provided you can last through the cycle.

 

[Randolph Kinney]

Housing slowdown appears to be spreading nationwide

By JANET MORRISSEY
Dow Jones Newswires

May 8, 2006


NEW YORK (Dow Jones/AP) – There are signs a housing slowdown that has gripped certain high-growth markets during the past few quarters is now spreading nationwide.

Preliminary reports from builders Hovnanian Enterprises Inc. and Toll Brothers Inc., whose quarters ended April 30, indicate demand is falling faster and more sharply than previously thought, and that the pullback is no longer confined to hot markets that had seen sharp home price run-ups in the past few years.

....

For Toll, the order decline was across the board as all of its geographical regions reported year-over-year decreases in demand. Chairman Robert Toll attributed the declining demand to higher cancellations and to speculative buyers who are dropping out of the market and putting the homes they recently acquired up for sale.

...

Majestic Research analyst John Tomlinson, in his monthly report that tracks new-home sales in 40 major markets, found sales fell year over year in every market during February and March, with the average decline being 25 percent.

...

Rising inventory, slowing sales and bigger incentive packages all signal a correction in the housing industry, Tomlinson added. But time will tell if this will lead to big dropoffs in home prices, “which I think most people are most afraid of,” he said.

http://www.signonsandiego.com/news/business/20060508-1101-housing-slowdown.html

:new_popcornsmiley:

 

[moh malekpour]

I hope some of you who are still bullish on housing market watched Mark Zandi on PBS, nightly business report, this evening.

 

[JSmith43]

I hope some of you who are still bullish on housing market watched Mark Zandi on PBS, nightly business report, this evening.

I briefly checked his track record. Nov. 2004 he pontificated on PBS that the dollar vs Euro would "continue to slide" for an additional 3-4 years.

It is about 1.27 to the Euro now and back then it was 1.31, so it actually improved since then. He is in the pontification business, "bubblehead lite" is my official rating for him.

http://www.npr.org/templates/story/story.php?storyId=4186041

I had to come out of my self imposed posting self-retirement to put a PBS economist in his place. He's had lots of hired gun appearances on PBS. They must like him:icon_smile: