Yes we will get through it and people like you will cling on to our bellies and skim off as much as possile.
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so what does the 1/2 point drop in rates mean?
- Thread starter Vortex
- Start date
Yes we will get through it and people like you will cling on to our bellies and skim off as much as possile.
Moe Ghoul
New member
ROFLMAO! you are a petty and bitter little man. Always making it personal.
Moe Ghoul
New member
“We do not expect significant spillovers from the subprime market to the rest of the economy or to the financial system.”
- Fed Chairman Ben Bernanke…May 17, 2007
Another classic quote for the history books. So, he lied or he's incompetent. Take your pick.
- Fed Chairman Ben Bernanke…May 17, 2007
Another classic quote for the history books. So, he lied or he's incompetent. Take your pick.
not sure what you are talking about
Moe Ghoul
New member
Exactly.
right
roark
New member
ctenidae
Active member
Heh. I even mention a house of cards way back then.
GrilledSteezeSandwich
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OJ Simpson is guilty..I would buy stock in Orange Juice futures..
ctenidae
Active member
drjeff
Well-known member
In my eyes, boy have 1 point something percent treasury notes never looked as appealing as they do right now.
Dow now below 10K
Off over 4K since it's peak, hopefully it's more than 1/2 way down to where it finally hits rock bottom, although there's a decent chance that we still haven't even reached the 1/2 way point yet
Don't look for a heck of alot of ski area improvements for the '09-'10 season if this credit market/economy doesn't start to turn soon.
Dow now below 10K
Off over 4K since it's peak, hopefully it's more than 1/2 way down to where it finally hits rock bottom, although there's a decent chance that we still haven't even reached the 1/2 way point yet Don't look for a heck of alot of ski area improvements for the '09-'10 season if this credit market/economy doesn't start to turn soon.
Moe Ghoul
New member
Benny and the feds will feed the fire with a rate cut. LIBOR is a red flag, forced auctions of CDO's for LEH has spilled over to Europe. Ultra shorts are rockin. China is pumping 200 billion into the system, sounds like 700 billion to try and stem the tide was the quid pro quo for the 200 billion. Meanwhile the fed is pumping money out the discount window by the truckloads.
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ctenidae
Active member
And now the Fed's talking about paying interest on reserves. What good that'll do, or how it'll work, I can't even begin to imagine.
Moe Ghoul
New member
Credit Default Swaps settlement dates for Fannie and Freddie (Oct. 6), Lehman Brothers (Oct. 10) and Lehman Brothers (Oct 23).
drjeff
Well-known member
Hollywood won't need to release and horror spoofs this halloween. All we need to do is just sit back and watch the Fed and the financial markets for all the comdey and horror we need these days.
Real estate wise, while I'm somewhat insulated in my relatively safe envirnoments of where I own in CT and in VT, it really was eye opening the few days I was in the Orlando area last week. Where I was staying was in a Sheraton owned timeshare development about 2 miles South of Sea World on International Drive. The number of new, large timeshare/townhouse/condo developments and even proposed developments that we had to drive by in the few miles from where we were staying to the main gates of Disney were scary!
Then when I got to my parents house down along the gulf coast about 20 miles North of Fort Meyers, it didn't let up either. There community which is being developed by Centex Corp, opened up a LARGE new subdivision about 2 years ago. This time last year when I was down there were 40 to 50 houses under construction and this past week there were 6, all of which were close to completion and no signs of any new foundation work going on. Suprising to me was that the number of homes for sale in the community wasn't any greater than at anytime that I've seen in the almost 6 years that my parents have owned there.
Real estate wise, while I'm somewhat insulated in my relatively safe envirnoments of where I own in CT and in VT, it really was eye opening the few days I was in the Orlando area last week. Where I was staying was in a Sheraton owned timeshare development about 2 miles South of Sea World on International Drive. The number of new, large timeshare/townhouse/condo developments and even proposed developments that we had to drive by in the few miles from where we were staying to the main gates of Disney were scary!
Then when I got to my parents house down along the gulf coast about 20 miles North of Fort Meyers, it didn't let up either. There community which is being developed by Centex Corp, opened up a LARGE new subdivision about 2 years ago. This time last year when I was down there were 40 to 50 houses under construction and this past week there were 6, all of which were close to completion and no signs of any new foundation work going on. Suprising to me was that the number of homes for sale in the community wasn't any greater than at anytime that I've seen in the almost 6 years that my parents have owned there.
Moe Ghoul
New member
Hollywood won't need to release and horror spoofs this halloween. All we need to do is just sit back and watch the Fed and the financial markets for all the comdey and horror we need these days.
Real estate wise, while I'm somewhat insulated in my relatively safe envirnoments of where I own in CT and in VT, it really was eye opening the few days I was in the Orlando area last week. Where I was staying was in a Sheraton owned timeshare development about 2 miles South of Sea World on International Drive. The number of new, large timeshare/townhouse/condo developments and even proposed developments that we had to drive by in the few miles from where we were staying to the main gates of Disney were scary!
Then when I got to my parents house down along the gulf coast about 20 miles North of Fort Meyers, it didn't let up either. There community which is being developed by Centex Corp, opened up a LARGE new subdivision about 2 years ago. This time last year when I was down there were 40 to 50 houses under construction and this past week there were 6, all of which were close to completion and no signs of any new foundation work going on. Suprising to me was that the number of homes for sale in the community wasn't any greater than at anytime that I've seen in the almost 6 years that my parents have owned there.
Why sell if you don't have too, especially if someone bought in the past 5 years and in FLA.
GrilledSteezeSandwich
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Dr. Jeff you mention the real estate market in Florida...The mother of the office manager here at work is buying a new home in the Orlando area after living in Connecticut..she got over $500k for her house in Connecticut and in the Orlando area..there are 3,000 square foot homes going for under $180k..crazy..
drjeff
Well-known member
Just down the street from where I was staying in Orlando, they had a sign up on the outer gate of a brand new townhome community, where you could buy a brand new 1,500 sq. ft townhome for $129,900, and this was in a decent area of Orlando, not very far at all from the parks, I-4, shopping, golf, etc.
Crazy stuff to say the least.
What's real scary is to think about potentially where things might be housing price wise 6 to 12 months from now in areas of the country that have been hit hard by the sub-prime crisis. If anyone has any cash left by then, the long term bargains that will be available will be unreal!
The biggest issue though now is that what's needed to spur some type of economic recovery, credit, just isn't available. And until it is in one form or another relatively easily available, this economy is just plain and simply ugly. And while news and information distribution is important, I really feel that it's also playing a significant role in this crisis too by scaring people more than they rationally need to be scared.
My folks live in Nokomis/Sarasota, built a 2300sqft home in 2000 for $340K, 2 years ago it was valued at $650K, today $425K. My god parents started building a place in 2006 in Bradenton for $550K, buy the time they finished construction in 2007 it was worth $425K, today, $350K.
there certainly will be deals to be had, but it will take a long, long, time for values to return. That said, I think real estate in Florida is a better buy than most places right now. It is after all God's waiting room and the number of boomers looking to retire there in the next ten years will be high.
there certainly will be deals to be had, but it will take a long, long, time for values to return. That said, I think real estate in Florida is a better buy than most places right now. It is after all God's waiting room and the number of boomers looking to retire there in the next ten years will be high.
ctenidae
Active member
We bought our place in Boston a year ago, and, at elast accoring to zwillo (sp?) it's gone up about 15%. Our saving grace is that we bought right- you can make up for a lot of mistakes, but paying too much isn't one of them.
