Really Funny Blog post

[Uncle Jack]

I found this via themessthatgreenspanmade.blogspot.com

Very funny post from two realtwhores-turned-foreclosure-experts on why this real estate bubble crashing will NOT lead to recession. Funny stuff.

http://findingforeclosures.entrepreneur.com/2007/11/25/why-the-nyt-has-housing-all-wrong/
Bubbles don’t lead to recessions. They lead to price declines–and fast. Did the tech stock bubble and burst lead to a recession? Nope. Why is housing different? This isn’t a general overall decline in housing. This is housing returning to normal and homeowners still thinking they can get 2004 prices for their houses.

[zoog]

I found this via themessthatgreenspanmade.blogspot.com

Very funny post from two realtwhores-turned-foreclosure-experts on why this real estate bubble crashing will NOT lead to recession. Funny stuff.

http://findingforeclosures.entrepreneur.com/2007/11/25/why-the-nyt-has-housing-all-wrong/

<cite>Danielle</cite> Says:
Actually Im not trying to sell anything for the homebuilders and I DONT sell homes! So Im really not trying to sell anything. I think this is a great time to buy — and I don’t just say that, I believe it and I’m doing it myself. I am actively searching (and putting offers in) on bargains.. we just see it differently.
Keep hope alive!:rolleyes:

[metalman]

I found this via themessthatgreenspanmade.blogspot.com

Very funny post from two realtwhores-turned-foreclosure-experts on why this real estate bubble crashing will NOT lead to recession. Funny stuff.

http://findingforeclosures.entrepreneur.com/2007/11/25/why-the-nyt-has-housing-all-wrong/

what's this guy on about? the nasdaq crash DID lead to a recession in Q1 2001, even after the fed et al threw everything they had at it. this guy IS as stupid as he looks. his partner there doesn't look like the brightest bulb on the porch, either.

[Uncle Jack]

what's this guy on about? the nasdaq crash DID lead to a recession in Q1 2001, even after the fed et al threw everything they had at it. this guy IS as stupid as he looks. his partner there doesn't look like the brightest bulb on the porch, either.

Right, that's the funny stuff. Did you laugh?

Whole slew of people still living in the river (denial) regarding real estate. One of my neighbors bought his place in 2004 and thinks he's going to get his price because of upgrades, sq. footage compared to price/sq. ft. of new places down the street, yadda, yadda, yadda. Nice, huh?

Not to turn this into a "news from the front" thread, but a new development down the road now looks like a ghost town. 16 homes completed and sold for >$300k ea., 433 units planned, 61 in partial-completion and work has stopped. The builder owes the landscaping company $70,000 and landscaper has had to lay off workers (brother-in-law knows several of the laid off employees).

... and they stop buying X-amount of goods from this guy, who stops buying this amount from that guy, who stops going to restaurants, the waitress gets fewer tips, etc.,.etc. No one will believe its a problem until it hits them in the head, and it's starting to hit some people.

[Spartacus]

Peter Gallagher and Annette Benning in "American Beauty" (that's NOT a good thing(TM) )

[GRG55]

Right, that's the funny stuff. Did you laugh?

Whole slew of people still living in the river (denial) regarding real estate. One of my neighbors bought his place in 2004 and thinks he's going to get his price because of upgrades, sq. footage compared to price/sq. ft. of new places down the street, yadda, yadda, yadda. Nice, huh?

Not to turn this into a "news from the front" thread, but a new development down the road now looks like a ghost town. 16 homes completed and sold for >$300k ea., 433 units planned, 61 in partial-completion and work has stopped. The builder owes the landscaping company $70,000 and landscaper has had to lay off workers (brother-in-law knows several of the laid off employees).

... and they stop buying X-amount of goods from this guy, who stops buying this amount from that guy, who stops going to restaurants, the waitress gets fewer tips, etc.,.etc. No one will believe its a problem until it hits them in the head, and it's starting to hit some people.

Global slowdown?
Talked to a restaurant/club owner I know over here. Although weekends are still good, his during-the-week business has fallen off a cliff. Now this place is oil boomtown, and filled with expatriate professionals, most don't pay any income taxes, so disposable incomes are fairly high. He said that his customers are telling him the skyrocketing cost of living for food & rent one factor, but the killer is that Canadians, Aussies, Brits, Europeans and even the Indians are all finding the currency exchange has gone way against them when they send their savings home. So they are cutting back spending to try to save more to compensate. Only the Americans around here still think they can save as much for retirement as before, and party on.

[zoog]

Peter Gallagher and Annette Benning in "American Beauty" (that's NOT a good thing(TM) )

http://img153.imageshack.us/img153/7210/annettebeningez4.jpg (http://imageshack.us)

"I will sell this house today. I will sell this house today."

[Uncle Jack]

Global slowdown?
Talked to a restaurant/club owner I know over here. Although weekends are still good, his during-the-week business has fallen off a cliff. Now this place is oil boomtown, and filled with expatriate professionals, most don't pay any income taxes, so disposable incomes are fairly high. He said that his customers are telling him the skyrocketing cost of living for food & rent one factor, but the killer is that Canadians, Aussies, Brits, Europeans and even the Indians are all finding the currency exchange has gone way against them when they send their savings home. So they are cutting back spending to try to save more to compensate. Only the Americans around here still think they can save as much for retirement as before, and party on.

I'm living in a boom-bust state, Florida, so my anecdotal reports are going to be heavily skewed toward the negative, but nonetheless I have seen the slowdown first-hand. The wife and I go to dinner once a week with my in-laws. Two years ago we had to wait for tables and it didn't matter where we went the story was the same. Now? We walk right in, point to a winner and say, "We want to sit right there."

I'm in the "no decoupling" camp. If the U.S. slows down, the planet slows down.

[FRED]

I'm living in a boom-bust state, Florida, so my anecdotal reports are going to be heavily skewed toward the negative, but nonetheless I have seen the slowdown first-hand. The wife and I go to dinner once a week with my in-laws. Two years ago we had to wait for tables and it didn't matter where we went the story was the same. Now? We walk right in, point to a winner and say, "We want to sit right there."

I'm in the "no decoupling" camp. If the U.S. slows down, the planet slows down.

We're working up our own analysis on a likely trajectory of a U.S.-centric global recession. The global economy was never uncoupled from the U.S. Now it's coming unglued. The role reversal in the current instance, with nations on the periphery of the system lending to the center and trading more with each other, will have an impact on the process and outcome.