Thread: Steel_Magnolia's Account Talk

Yep Maggie, very very true. some articles I read say to expect housing price declines for another 7 years at national scale, maybe not all markets. Way way too many houses built for the number of people who could actually afford them using conservative assumptions about necessary downpayments, income, cashflow and expenses. Credit was too easy, drove housing prices way too high. Prices are coming back down to longterm affordable, but there is resistance. banks don't want to lose their shirts on all the bad extremely risky loans they made and are trying to keep the prices unrealistically high by keeping the interest rates too low.

Thanks for the link to the Durden article. Takeaways for me were that 2013 is the timeframe for the beginning of a turnaround and this final statement:
" Alas, we are already there, and yes, it is BofA's job to put a favorable spin on the data. Look for another 15-25% drop in home prices from here on out, and another wave of hundred billion+ charge offs at undercapitalized banks. "

Of course a market specific analyis would be helpful. I'm thinking that much of the DC area will remain insulated from the ravages on the rest of the nation.

Originally Posted by nnuut

900 Sq Ft apartment $900,000 HA!!~ come on!

Is this a 2020 price?

Thank you, Norm, Alevin and Warren, for your excellent comments and for your visit to my home.

And it would be interesting to see a regional breakout on housing price movement in the last ,,, say ... three to four years. I know from my own experience that houses in my area are worth about 55-60% of what they were three years ago. Good news for people looking to buy now. Bad news for people who purchased homes 3 1/2 years ago, like me.

Good thing my mortgage is my only debt. And I still have a palm tree in my front yard. There's a bright side to everything, I guess.

Maggie

Jobs: 'Stopped firing, not yet hiring'

By Blake Ellis and Annalyn Censky, staff reporters, September 1, 2010: 9:58 AM ET


NEW YORK (CNNMoney.com) -- The jobs picture still looks sour, but there could be light at the end of the tunnel. The bad news: The private sector slashed more jobs than expected in August, reversing a sixth-month trend of job gains.The good news: Overall employers announced fewer planned job cuts.

"Private sector employers cut 10,000 jobs in August -- a drop from the downwardly revised 37,000 jobs they added the month before, according to a report by payroll processing firm Automatic Data Processing. Those cuts were worse than predicted. Economists polled by Briefing.com had expected the report to show 13,000 jobs added in August....[emphasis added, more]"

http://money.cnn.com/2010/09/01/news...nger/index.htm


So what I'm reading is that the jobs report isn't nearly what was predicted. But the reaction I'm seeing in the stock market is that, as of this post, we're up about 2 1/2% in stocks across the board.

And up is down and black is white....

Maggie

There is always a bright side - like being on the come back trail. Money is going to flow the rest of the week - coal is excellent today.

Originally Posted by Birchtree

There is always a bright side - like being on the come back trail. Money is going to flow the rest of the week - coal is excellent today.

And base metals are doing great too. My little IRA account is going great guns today. But my big TSP account is mostly in F fund because I'm a chicklet. So I won't be enjoying today's market news nearly as much as you will, Birch!

Maggie

I remember in 1981 when the 30 year long bond was selling at $50 and yielding 15%. And because there was so much fear of continuing inflation no one would buy bonds. Now we have just the opposite - every mom and pop wants them at under a 2% yield - not for me because I know what is coming - we are going to have a robust economic growth pattern as soon as November rolls around.

Dear sweet priceless friend,
There will always be misunderstandings, confusion, conflict, and brief arguments between the very truest and best of friends. I am totally at peace with where I am as of last night - and for me there is nothing more important than allowing this very genuine freedom to remain.

You are, and have been, and will always be one of the most beautiful and fulfilling aspects of my life and the very highest quality expression of life itself. As I have stressed over and over to 'our dear friend' the body itself makes no difference - is never meant to be how you 'value' yourself - or how anyone - is meant to value and honor you.

The difficulty is in no way a lack from you and I am so terribly sorry for what has transpired. I don't know that anyone could honestly have a better heart and be more genuinely received and accepted.

This is NOT a time to focus on 'popularity' - because NOTHING would hurt you more. Find the ONES that are TRUE through and through and let them be your Strength and Hope and Comfort. Birch, Squale, Alevie will forever be my truest friends because they are deeply brother and sister. There are many others that are as 'wonderful' and 'true' as you could want and need.

PLEASE - do NOT waste your time on the others because they honestly have no clue how to show you the love you need. Nothing will take your life more than them.

I am not abandoning YOU - or anyone else - but yesterday I was given a freedom that I can't risk distroying. I believe in the very best and I am at peace with my life and all that has happened here.

May you find the peace, and joy, and happiness you deeply deserve.

Steady (the Sparkling Friend - the everlasting Blue White Diamond)

I don't expect the MB to be very bust the next few days. And I hope that everyone has a great Labor Day weekend. Please be safe! And be ready to write a paper in your Account Talk entitled, "How I Spent My Three Day Weekend."



Maggie

Originally Posted by Steel_Magnolia

I don't expect the MB to be very bust the next few days. And I hope that everyone has a great Labor Day weekend. Please be safe! And be ready to write a paper in your Account Talk entitled, "How I Spent My Three Day Weekend."



Maggie

Shoot that's easy. WORK, WORK and more WORK.