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Housing Bubble Bursting?

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Bond Report

Treasurys close lower after 3-year auction
All eyes trained on FOMC decision on Wednesday

NEW YORK (MarketWatch) -- Treasury prices closed lower Tuesday, sending yields higher, after new data showed that inventories are not growing as much as had been thought due to economic strength, as investors looked ahead to the Federal Reserve's interest rate decision on Wednesday.
 
Gold up or Dollar down?

Bobby Bucks said:
Karl I think our own DCJ did just that back when gold was $500 an ounce. Today it topped $700 an ounce.
He hasn’t posted in a while; maybe he made enough to disappear on the French Riviera and is surrounded by nubile young babes wanting to help his spend all his gold. :)
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Is gold truly rising in value that much or is the dollar falling in value and making the cost of buying gold higher? It is probably a little bit of both as there is little that is black and white in economics. (mostly just green and red :new_smile-l: )
 
Empire shifts ...

The regime in Iran is a big blind spot in the market place. I would contend that the situation in Iran is beyond the point of no return and is not a reality yet realised in the market.

If you believe we will have a major conflict with Iran the volitality and uncertainty will push deeper pockets towards durability. (Gold's only use value is its durability in contrast to other financial vehicles during periods of empire unheavels)

I heard two estimates today. $1,500 and $15,000 per ounce. THe $15,000 comes from the realtionship gold had with the dollar during the Roosevelt era when gold was $20 per ounce.

I always thought gold is worth more like a million dollars an ounce

But, I live in a dark world where optimism lives under its veil.
 
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David R. Stevenson said:
The regime in Iran is a big blind spot in the market place. I would contend that the situation in Iran is beyond the point of no return and is not a reality yet realised in the market.

If you believe we will have a major conflict with Iran the volitality and uncertainty will push deeper pockets towards durability. (Gold's only use value is its durability in contrast to other financial vehicles during periods of empire unheavels)

I heard two estimates today. $1,500 and $15,000 per ounce. THe $15,000 comes from the realtionship gold had with the dollar during the Roosevelt era when gold was $20 per ounce.

I always thought gold is worth more like a million dollars an ounce

But, I live in a dark world where optimism lives under its veil.
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Gold has been known historically as the "store of value". Why? Because of its limited supply and no way to create more other than mining natural known sources.

In time of war, nations at war need huge sums of money. The tendency is to print currency to make up for the short fall. The more that currency is printed (created), the more value gold has relative to that currency.

Natural resources and commodities behave in a similar way in times of war. Copper is at an all time record high. It does make you wonder, doesn't it?:)
 
Greg that’s always been the mystery to me regarding value. If everything tanks tomorrow, gold, bullets and food will rule. Imagine DCJ & Roger Watland ruling the world. :) I do intend to follow gold more closely.....it might be too late for this ride, but there will be another one some day.
 
http://www.onlypunjab.com/money/fullstory-insight-money finance-newsid-8367.html

Mortgage Industry May Owe Homeowners Billions For Overcharges.
For those waiting for the shoe to drop in relation to the real estate housing/refinance boom/bubble, it may have just happened. According to the Justice & Integrity Project in its newest home lending survey, overcharging the homeowner and or out right fraud have reached epic proportions in the U.S. mortgage markets. The net result is that mortgage lenders and or those who purchase mortgage portfolio's may be at risk for tens of billions of dollars in liability for fraud or for the intentional overcharging of tens of millions of U.S. homeowners.
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While the forgoing is a biblical type disaster for the mortgage industry that may rival or exceed the S & L Crisis of the 1980's, the other situation discovered may turn out to be just as bad. This newest survey/study contacted appraisers mortgage brokers & real estate agents nationwide on the topic of phony real estate appraisals and or appraisals that over-estimate a homes value. The results were startling. According to nationwide interviews of appraisers, mortgage brokers and real estate agents, 15%+ of all real estate appraisals puff up or overstate the value of a home.

According to those polled, the mortgage lender or the real estate agent calls the appraiser and says "I need a certain value on this home". (regardless if the homes value is in fact anywhere close to the desired value) If the appraiser refuses to do the phony/puffed up appraisal, the real estate agent or mortgage lender will simply find another real estate appraiser who wants the money for the appraisal, regardless if the appraisal is based on fact or in many cases fiction. The transalation on all of this is simple. This nations real estate markets may all have over-stated value. This suggestion is based on the fact that if a home's value was founded on false or inaccurate comparable home values, all appraisals and or notions of value might be impacted.
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Sherlock has been investigating!!!
 
Not Our Parents United States.

The sharp rise in prices of Real Estate, Energy and Commodities signals to me that we are in for a period of inflation like you would normally associate with a Spanish speaking countries to the south of us. (Maybe we should institute Español as the national language.) :new_smile-l:
 
Here many think all we're doing is preaching to the choir. Appears that thier are many new members joining the choir. I'll still BET that many were invited to the choir from concerned Appraisers & GOOD Lenders & YES even Mortgage Brokers.
 
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