[Roccland]

SEVEN year supply of unwanted homes!!

"Analysts say there's more trouble ahead in South Florida. Buyers insist prices still are too high as the number of homes for sale continues to pile up. Lenders also are reducing the pool of eligible buyers by tightening credit standards after the subprime mortgage meltdown.

Most forecasts say the housing market won't start to improve until sometime next year.

At the end of May, Broward had more than 47,500 homes and condominiums on the market, according to the Miami-based Keyes Co. That's up 27 percent from a year ago. At the current sales pace, it would take about seven years to sell all those properties."

[Roccland]

Spain crashing fast!!!

Speaking of cheap houses....

[Roccland]

Hey threadbear and Strider - start another thread.

[azreal60]

$this->bbcode_second_pass_quote('', 'M')inneapolis, MN-WI $234,000 -15.0% -$35,000

[azreal60]

$this->bbcode_second_pass_quote('', 'H')ey threadbear and Strider - start another thread.

[Roccland]

Wicked graphs...this is gonna suck!

Rates should drop, but it will destroy what remains of teh dollar...

OTOH - raising rates will kill the debt markets and unplug life support from the housing market (that has zero hope of recovery anyway).

[Plantagenet]

You don't get it.

The Fed raises interest rates to damp down inflation.

Falling house prices are DEFLATIONARY.

[Roccland]

$this->bbcode_second_pass_quote('Plantagenet', 'Y')ou don't get it.

The Fed raises interest rates to damp down inflation.

Falling house prices are DEFLATIONARY.

[MacG]

$this->bbcode_second_pass_quote('mmasters', '')$this->bbcode_second_pass_quote('vision-master', 'O')h, I don't know. Why would the bank want the house back if it's gone down in value?

[Roccland]

JPMorgan will be the last bank standing with impunity.

It hath been foretold.

[I_Like_Plants]

$this->bbcode_second_pass_quote('MacG', '
')
Banks and bankers cant really run anything, they are depending on others to run things. Banks collect interest for doing nothing, and there is no other way for them to exist.

[MacG]

$this->bbcode_second_pass_quote('I_Like_Plants', '')$this->bbcode_second_pass_quote('MacG', '
')
Banks and bankers cant really run anything, they are depending on others to run things. Banks collect interest for doing nothing, and there is no other way for them to exist.

[Roccland]

$this->bbcode_second_pass_quote('MacG', '
')
In a world without resources for growth, yes, parasite indeed. In the old world, the one that got started in the 1400's with colonialism and all, there were abundant natural resources and growth was possible. In such a world the banking business actually helps and enforce growth.

[TWilliam]

$this->bbcode_second_pass_quote('MacG', 'Y')ea. And it probably scares them. Banks are lousy homeowners and they know it. Their modus operandi is to have others belive they own the stuff, looking after it and keeping it neat and tidy while paying the bank. A home owned by a bank run a very high risk of being stripped clean in a week or two. First the copper then the stainless steel, and then it is suddenly not worth very much anymore.

Banks and bankers cant really run anything, they are depending on others to run things. Banks collect interest for doing nothing, and there is no other way for them to exist.

[I_Like_Plants]

$this->bbcode_second_pass_quote('MacG', '<')/div>

The very definition of a parasite.

In a world without resources for growth, yes, parasite indeed. In the old world, the one that got started in the 1400's with colonialism and all, there were abundant natural resources and growth was possible. In such a world the banking business actually helps and enforce growth.[/quote]

I agree, credit is a necessary part of a growing economy, you use it to prime the pump, you use it to buy a house to get into it now, that you're going to live in for a lifetime, etc.

But in a scenario where 9/10ths of us have to die and not "re run" in the form of children, so the planet gets a break? There will be houses etc galore, and the ecology will need to recover.

[Daculling]

It's accelerating.

UBS CEO fired

UBS late Thursday announced it's replacing Chief Executive Peter Wuffli with deputy CEO Marcel Rohner, among other executive management changes, following a hedge fund blow-up that proved costly for the investment bank.

Hedge fund hearing set

The U.S. House Financial Services Committee said Thursday it will hold a July 11 hearing into systemic risks to the economy and the financial system posed by hedge funds.

[Daculling]

So... anyone want to guess when the pension plans admit that they hold this crap as well? That is when TSHTF in my opinion.

I'm guessing... Oct 07.

[Roccland]

O yes - global economies come crashing down this year...not a doubt in my mind.

[Ludi]

$this->bbcode_second_pass_quote('Roccland', 'O') yes - global economies come crashing down this year...not a doubt in my mind.

[firestarter]

$this->bbcode_second_pass_quote('Roccland', 'O') yes - global economies come crashing down this year...not a doubt in my mind.