The economy, is it good or bad. (Page 115/181)
Red88FF DEC 29, 08:20 PM
It is all about positioning. When new home sales fall there is an open market for people in the remodel business as people tend to make improvements instead of trading up. Of course this does not include renters because they have essentially nothing but temporary rights to air space.

I know quite a few landlords that are excited with the downturn easier to rent properties and can charge more rent. We have been considering doing just that if the market actually turns bad, I am not going to hold my breath on that one but we could rent our house and buy another at the decreased values. :-) Renters are always kinda screwed.
84Bill DEC 29, 10:31 PM
Durable goods disappoint
Orders rose 0.1 percent in November, far below economists' hopes.

WASHINGTON (AP) -- U.S. factories saw orders for costly manufactured rise only marginally in November - falling short of expectations for a much bigger gain and underscoring the strains to the economy from housing and credit problems.

The Commerce Department reported Thursday that orders for "durable" goods - products expected to last at least three years - increased by just 0.1 percent last month. The tiny rise came after durable-goods orders fell by 0.4 percent in October. Economists were hoping for a larger rebound - of a 2.2 percent increase - in new orders placed at the nation's factories in November. Still, the November rise did mark the first increase in durable-goods orders in the last four months.

In other economics news, more people signed up for unemployment benefits last week, a sign that the job market is softening as the economy loses speed.

The Labor Department reported that new applications filed for unemployment insurance rose by a seasonally adjusted 1,000 to 349,000. Economists were expecting new filings for jobless benefits to dip to around 340,000 for last week.
ditch DEC 30, 12:00 AM

quote
Originally posted by 84Bill:
f the people who lost their homes to foreclosure file for bankruptcy it will be about 7 years before they can buy again. If they just walk away with a bad credit mark it could take much longer. Then there is the job market. at present I wouldnt be thinking my job is secure with the COL rising and wages not keeping pace then there is the companies bottom line. I talk with people who have lost their jobs of 10 to 15 years. Then there are the self employed... they dont exactly have a bright future either with incomes falling off.




You would be surprised how fast creditors come running, offering credit to those who went thru bankruptcy. My father in law filed and within 1 year he was getting offers out the arse. He applied and was given credit....I couldn't believe it!

But, given the condition of the marked right now, you're correct. With the ARM issues, you're going to need spit shine perfect credit to buy a house in the next 12+ months. I'm not saying you need perfect credit for a loan right now, but if you don't have a nice credit score you're going to have to search extra hard to find a lender willing to talk to you. Hell, I just bought my 2nd house on Oct 31 2007 and they still had an ARM option when I applied for a loan. Given the problems the market is having with ARM's, I can't believe they are still being offered. What they're thinking I have no idea.

[This message has been edited by ditch (edited 12-30-2007).]

84fiero123 DEC 30, 08:40 AM

quote
Originally posted by Phranc:

So do you have any other drum to beat? Or are you gonna fill 3 more pages with the same housing is so bad doom and gloom?



Weak End to 2007 Expected for Carmakers

Saturday December 29, 7:29 PM EST

DETROIT (AP) — Industry analysts are predicting a lackluster end to an already dismal year for automakers, likely the worst in nearly a decade.
Holiday discounts failed to bring consumers out of their funk, and December sales are expected to fall around 4 percent, which would bring the full-year total for U.S. auto sales to 16.1 million vehicles, the lowest volume since 1998.

And even,

Japanese automakers also are expected to see lower sales in December, particularly as the housing crunch continues to dampen demand in California, their most important market.
Toprak predicts Toyota's sales will be down 3 percent compared with last December, while Honda Motor Co.'s will fall 1 percent. Nissan Motor Co. will likely be flat, he said. Nissan has bucked the slow sales trend in recent months on the strength of its new Rogue crossover and Versa subcompact.


So not only is the housing market gone to pot but it is taking everybody else with them.

But then I don’t know anything.

And as for those here that keep saying it is the fault of those who bought beyond their means.

Not everyone did.

But then you guys with the money here will always say the economy is doing great.

Wait, I’m sure before 08 is over you may also be singing a different tune.


http://money.excite.com/jsp...ews_id=ap-d8tredv80&

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Technology is great when it works,
and one big pain in the ass when it doesn't.
Detroit iron rules all the rest are just toys.

84fiero123 DEC 30, 08:53 AM
Buffett Move Boosts Guarantor Industry

Saturday December 29, 8:10 AM EST

NEW YORK (AP) — Town governments, school districts and other municipalities looking to borrow money got a new option Friday when trying to insure their bonds: billionaire investor Warren Buffett.
Buffett's formation of a bond insurance company provided some validation to an industry that has been battered by fears of collapse in recent weeks.
"If I was thinking of investing in financial guarantors, this would give me comfort," said Donald Light, a senior analyst with Celent. Light owns Berkshire Hathaway shares.
Though analysts said the move by Buffett provides a stamp of approval for the broader business model, which has recently come under fire, shares of Buffett's newest competitors were hammered Friday.
"Any capital new to the space for reinsurance would be a net positive," said Steve Stelmach, an analyst with Friedman, Billings, Ramsey & Co., in an interview. But if Buffett "uses capital simply as competition, it is a negative," Stelmach said.


MBIA Inc. fell 15.9 percent to close at $18.74 Friday, while Ambac fell 13.8 percent to $25.12. Earlier in the session, MBIA shares hit a 52-week low of $18.43.
The New York Insurance Department expedited the licensing for Berkshire Hathaway Assurance Corp. The state's insurance superintendent, in a statement, said the state was doing what it could to help insurers win regulatory approvals needed to keep their businesses going.
Buffett's foray into the bond insurance sector comes at a tumultuous time for his new competitors. In recent weeks, bond insurers have come under fire as rating agencies have downgraded them, or warned of possible downgrades, because of their exposure to the deteriorating credit markets.
Standard & Poor's downgraded ACA Capital Holdings Inc.'s bond insurance unit to "CCC" from "A" on Dec. 19, while Fitch Ratings has placed two of the largest bond insurers, MBIA and Ambac, on negative credit watch.

http://money.excite.com/jsp...ews_id=ap-d8tr4fp00&

------------------
Technology is great when it works,
and one big pain in the ass when it doesn't.
Detroit iron rules all the rest are just toys.

84Bill DEC 30, 09:52 AM

quote
Originally posted by ditch:
You would be surprised how fast creditors come running, offering credit to those who went thru bankruptcy. My father in law filed and within 1 year he was getting offers out the arse. He applied and was given credit....I couldn't believe it!



Yes, I do.

The application doesnt mean you will get the credit and if you apply enough times you will actually ruin your chances at getting credit by killing your credit score for another 2 or 3 years on top of that bankruptcy. Chapter 7 is the way to go but since the laws were restructured I can imaging most will be eligible only for chapter 11.


quote

But, given the condition of the marked right now, you're correct. With the ARM issues, you're going to need spit shine perfect credit to buy a house in the next 12+ months.



And the economy will suffer greatly as a result of all these fine and well thought out banking rules.
84Bill JAN 02, 12:55 PM
LOOK OUT BELOW!!!!!

13,044.94 -219.88 / -1.66%

Dow sheds more than 150 points
Stocks start 2008 on a down note after report shows unexpected contraction in manufacturing sector.

[This message has been edited by 84Bill (edited 01-02-2008).]

84Bill JAN 02, 12:56 PM
Oil pushes to $100
Violence in Nigeria, supply disruption in Mexico and the prospect of another drop in U.S. inventories and more rate cuts drive crude past the triple-digit mark
Formula88 JAN 02, 01:22 PM
For the year 2007,
DOW +6.4%
Nasdaq +9.8%
S&P 500 +3.5%

My investments made a conservative 9%. Not earth shaking, but I did beat the DOW for the year.
Analysts are saying we should buckle up and prepare for a bumpy ride because 2008 is going to be much like 2007.

If this is the toilet economy and I'm still making 9%, I can live with that just fine.
pokeyfiero JAN 02, 01:28 PM

quote
Originally posted by 84fiero123:
But then you guys with the money here will always say the economy is doing great.

Wait, I’m sure before 08 is over you may also be singing a different tune.





Most people with money got there by making the right decisions. Why would 08 be any different for them?