The economy, is it good or bad. (Page 78/181)
Old Lar OCT 31, 05:20 PM
Bill, the economy is going down the tubes. You better stock up on the free cheese while it is still available.

DJIA 13930.01 +137.54 +1.00%
• NASDAQ 2859.12 +42.41 +1.51%
• S&P 500 1549.38 +18.36 +1.20%

GDP advance of 3.9 percent was largest in 18 months.
Red88FF OCT 31, 06:45 PM

quote
Originally posted by Old Lar:

Bill, the economy is going down the tubes. You better stock up on the free cheese while it is still available.

GDP advance of 3.9 percent was largest in 18 months.




That 3.9 says it all in a nutshell. Case closed...................for now.
fierobear OCT 31, 07:04 PM

quote
Originally posted by Pyrthian:

for many - the economy sucks. sucks bad. really really bad. especially those, who like me, are in housing. wtf good is designing a subdivision, when ya cant even sell a single house. my company is 1/2 the size it was 2 years ago. and shrinking. it almost as small as when I started, back in the late 80's.



I invest in real estate, and I'm getting my ass handed to me right now. But you won't hear me talking about "the economy going down the tubes", because I know the truth - things go in cycles, including real estate. Right now, real estate is down. You can't have 20% appreciation per year, year after year. And you don't want to, because people can't afford to buy. I could make a killing if it did, but I know that it's better if things don't go up that fast. And I like to see people able to afford houses, not because of investment purposes, but because it's a good thing for people. So I'll adjust, retool, and go with it.
84Bill OCT 31, 09:12 PM

quote
Originally posted by Old Lar:
Bill, the economy is going down the tubes. You better stock up on the free cheese while it is still available.



Does being an forum trolling ass hole just come naturally or is it something you work at?
jstricker OCT 31, 09:51 PM
I read something the other day that real estate is down a lot in CA, FL, AZ, and NV. In pretty much the rest of the country it's staying flat or still increasing, but not at the rate it was earlier. Could that be because IN CA, FL, AZ, and NV it was overvalued? Hmmmmm.

I realize if you live in these areas, it's a tough nut to handle. I also realize those are bit, populous states (especially CA and FL) so they affect the national averages to a large degree. But it does point out that real estate market changes are geographical in scope and hard to make a blanket generalization about the health of a market.

John Stricker
quote
Originally posted by fierobear:


I invest in real estate, and I'm getting my ass handed to me right now. But you won't hear me talking about "the economy going down the tubes", because I know the truth - things go in cycles, including real estate. Right now, real estate is down. You can't have 20% appreciation per year, year after year. And you don't want to, because people can't afford to buy. I could make a killing if it did, but I know that it's better if things don't go up that fast. And I like to see people able to afford houses, not because of investment purposes, but because it's a good thing for people. So I'll adjust, retool, and go with it.
fierobear NOV 01, 01:34 AM

quote
Originally posted by jstricker:

I read something the other day that real estate is down a lot in CA, FL, AZ, and NV. In pretty much the rest of the country it's staying flat or still increasing, but not at the rate it was earlier. Could that be because IN CA, FL, AZ, and NV it was overvalued? Hmmmmm.

John Stricker



R/E in CA overvalued? Maybe. But that doesn't mean it will crash. The prices simply got overheated by the demand. Now, values are cooling off with the market. Things are basically stabilizing. There are a few areas where the prices are declining, but it's more of an adjustment and it was probably needed.

The thing people forget is that 20%+ appreciation per year is NOT normal. 7% per year is generally considered normal. Land is still at a premium here in CA, and it's like they say "they ain't making any more." It's just that demand was very high, and now it's cooling off.
84Bill NOV 01, 05:59 AM
Wow.. 3.9% impressive... I wonder who is getting the money from that GDP gain. Mortgage foreclosures are up 30%

Foreclosures: Moving on up
Filings rise with more on the horizon as interest rates jump on a record number of adjustable mortgages.
By Keisha Lamothe, CNNMoney.com staff writer
November 1 2007: 6:03 AM EDT

NEW YORK (CNNMoney.com) -- Foreclosure filings climbed during the third quarter of 2007 with no relief in sight, according to a report released Thursday.

The report by RealtyTrac, an online marketer of foreclosure properties, showed the number of filings rose 30 percent from the previous quarter and nearly doubled from a year earlier.
Pyrthian NOV 01, 07:48 AM

quote
Originally posted by jstricker:

I read something the other day that real estate is down a lot in CA, FL, AZ, and NV. In pretty much the rest of the country it's staying flat or still increasing, but not at the rate it was earlier. Could that be because IN CA, FL, AZ, and NV it was overvalued? Hmmmmm.

I realize if you live in these areas, it's a tough nut to handle. I also realize those are bit, populous states (especially CA and FL) so they affect the national averages to a large degree. But it does point out that real estate market changes are geographical in scope and hard to make a blanket generalization about the health of a market.

John Stricker



yes, flat here.....maybe slight decline in prices
CA & FL are "prime" states, arent they? they will always be $$$ - and wildly varying - but still $$$
AZ & NV were booming with jobs, and that fueled a people rush, and housing shortage, which of course created their temporary overvalue. now that the construction caught up with their shortage & population - the price is returning to it should have been all along. yes, I bet that really sucks for the folks who were late in the game....
84fiero123 NOV 01, 06:17 PM
Stocks Plunge; Dow Drops More Than 360



Thursday November 1, 5:55 PM EDT

NEW YORK (AP) — Wall Street plunged Thursday, pulling the Dow Jones industrial average down more than 360 points as investors found themselves confronted by two uncomfortable prospects: an end to interest rate cuts and a slowing economy.
Mindful of a warning from the Federal Reserve Wednesday about inflation, the market nervously watched the price of oil, which passed $96 a barrel overnight for the first time before dipping on profit-taking. The Fed, which cut interest rates a quarter point, said in a statement that inflation remained a concern, and oil's ascent to another record raised the possibility not only that the Fed might stop cutting rates, but that it might even consider raising them if inflation accelerates.
Meanwhile, Wall Street also had to contend with concerns about a slowing economy. A report from the Commerce Department indicated consumers scaled back their spending in September as worries mounted about a worsening housing market and further credit market turmoil. And a trade group reported that manufacturing in the U.S. grew in October at the weakest pace since March.


Ya we are doing just great.

http://money.excite.com/jsp...ews_id=ap-d8sl4npo0&

You don’t need a degree in economics to see what is happening and has been happening ever since I started this thread.

I think the important part of this link is right here.

Christopher Cordaro, chief investment officer at RegentAtlantic Capital, said Wall Street remains anxious about the possibility of recession. He also believes the market is devoid of enough positive news "to have any type of sustained rally."

But then I don’t know anything. I don’t understand the economy because I don’t have a degree.

You know what? I hope all those who have been praising the economy all this time and saying just how good we have it now. Take it right up the ass, just like the rest of us have been doing, because of the housing crunch, credit crunch, employment crunch.

Some will always be doing well, some. But when the majority of Americans have been getting the shaft all this time it just doesn’t look good.

OK now all you guys who have been saying we are doing just fine, flame me. I’m just not educated enough to understand something that I have been right about all along.

------------------
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.

jerry455 NOV 01, 06:30 PM
around here in south east mich. the economy is terrible. chrysler just anounced more cuts , foreclosures are up 110% from last year. on top of all that our wonderful gov. 2 penny jenny is raising our taxes again. just what is needed to help struggling families and attracting new business , typical democrat.