halide1
Member
|
9/7/2006 5:54:00 PM
What do you guys think of this? I think its the beginning of a serious economic disaster for the U.S. Chairmen of the Fed Greenspan has cushioned the dot.com bubble with another bubble that has grown to be a monster. I think we are seeing the very beginning of what could be some very long and grueling years for the US.
|
|
|
K_razy
Member
|
9/7/2006 8:38:00 PM
|
brianj22
Member
|
9/7/2006 10:13:00 PM
This really doesnt apply to the puget sound area...
|
mythos
Member
|
9/7/2006 11:52:00 PM
|
halide1
Member
|
9/8/2006 7:57:00 AM
How do you figure that it will not affect the Puget Sound area? Do you think Seattle is some magical city that is immune from market correction?
The population of Seattle has remained stagnant the last 5 years, and new home buyers are priced out of the market, and you don't think that it will affect us?
Keep drinking the mortgage brokers and Real Estate agents cool-aid. The news you are reading in the Seattle Times is a joke. Anyone from the outside looking in at our market realizes we are inflated by almost 25 percent.
|
engineerf
Member
|
9/8/2006 9:49:00 AM
^ what about the "Microsoft effect"?
|
londonkev
Member
|
9/8/2006 10:52:00 AM
|
TripodXP
Member
|
9/8/2006 11:01:00 AM
Jeez if only you were around in the 20's - they might have realized things werent too bad then either and could have avoided that "correction". why do you think a guy like buffett has been quietly moving all his wealth out of the US?
|
Trekker
Nightlife Industry
|
9/8/2006 11:09:00 AM
bubbles always pop
sure but is it a bubble... Personally I dont think so.
I do have a theory that when all the Baby boomers die there will be a surplus of houses and the market will go sour for a longer period but I believe it will rebound once the population catches up.
|
TripodXP
Member
|
9/8/2006 11:24:00 AM
I dont think bubble means there is no substance behind it in this situ. its an over valuation that ordinarily would not be a big deal by itself but combined with the shaky footing the US is already on it could be the start of a slippery slope.
|
_sketchy_
Member
|
9/8/2006 11:42:00 AM
|
Trekker
Nightlife Industry
|
9/8/2006 11:47:00 AM
Tell you what if the housing market does slow and go into the slump I think it will when the boomers start dying I will be loading up while the prices are cheap! $$$
|
brianj22
Member
|
9/8/2006 12:06:00 PM
The housing market in seattle might slow down from the double digit % increases per year we've been accustomed to, but it most definately will not "pop" here. I could see it slow down to 5-6% increases per year down from the low to mid teens right now, but that's it. I'm a homeowner and soon to be house flipper so I definately watch this all the time.
|
fatuity
Sales Staff
|
9/8/2006 12:17:00 PM
Greenspan aint headint the Fed no more....
|
fatuity
Sales Staff
|
9/8/2006 12:23:00 PM
Its an interesting issue to see the new condos being built in Belltown and since the city lifted the height restrictions the city will grow up in the sky as more people will move here to buy a condo and live downtown therefor "righitng" the single family homes prices that are rising as fast as they did in Cali in the late 80's into the 90's.... bottom line is this: everyone needs a place to call home... those folks will get that but its the other who flip or stockpile properties that this will have a negative adverse affect.....
Ken, be talking to you real soon mang....
|
halide1
Member
|
9/8/2006 12:27:00 PM
KenDoll,
Since you seem to think you are better informed than everyone else, what about the economic principle, "Past performance is no guarantee of future results".
Second, housing prices since 2002-2003 have seen a run up like no other in the history of house prices since 1890.
Third, house prices in SoCal have NOT gone up the last month, inventory is on the rise, and the beginning of the bubble bursting is happening.
The rest of you non believers are just like all the people at the beginning of the .com crash.
"You would have made x amount of dollars if you would have invested in x .com company last year". Yeah then it all came to a crashing halt.
Why doesn't someone who believes we are not in a housing bubble post some REASONS why they think we won't see a decrease in housing prices.
|
halide1
Member
|
9/8/2006 12:29:00 PM
Greenspan isn't heading the fed, BB is, but its the mess that Greenspan created.
|
halide1
Member
|
9/8/2006 12:34:00 PM
By the way, most media outlets are PRO real estate. It's actually more difficult to find independent news that is unbiased and more economically sound.
|
fatuity
Sales Staff
|
9/8/2006 12:45:00 PM
^ no doubt about that and the press.. they have their own agendas... watching the lame TV stations I do, was wathcing some numbers of the US home builers.... The 3rd largest builder is not going to meet their numbers..... they will not make as much money as they thought... they will still make money though..... its a trend and such there is an upside to this as well.... stay the course....
|
Trekker
Nightlife Industry
|
9/8/2006 12:54:00 PM
I made my point I believe that population will drive the housing market...
|
halide1
Member
|
9/8/2006 1:03:00 PM
Trekker,
Your point is a very valid one. As the baby boomers retire they will be selling their houses and moving. In turn that will create an interesting shift in the market as well. Many of them will be moving into condos and/or vacation spots.
|