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Realistbear

H P C Gaining Momentum In The U S

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http://biz.yahoo.com/prnews/060430/nysu015.html?.v=46

"We have seen skyrocketing foreclosure increases in 'hot spots' around the country with
over a 50 percent rise in foreclosure activity in California and Nevada,"
said Serdar Bankaci, president and chief executive officer of Default Research, Inc.

:o

http://www.realestatejournal.com/columnist...8-fletcher.html

Wall Street Journal

Soft Landing or a Crash

For the Housing Market?

By June Fletcher

Everybody agrees that the housing market is drifting down from record highs. But is it coming in for a soft landing, or is it about to crash?
ark Zandi, chief economist of Moody's Economy.com, pointed out that home prices have soared so high in many parts of the country that they're out of reach for many buyers. "Affordability has collapsed to where it was in the `90s, despite very aggressive lending," he says. The rapid rise in interest rates over the past few months have become a barrier for many first-time buyers, he says, and are prompting many short-term home flippers to sell their holdings.
That could lead to localized crashes, which he defines as a peak-to-trough price decline greater than 10%, in markets like Washington, D.C., the Jersey Shore, Miami, Las Vegas and Orlando, Fla.
Housing consultant Thomas Lawler, former senior vice president for risk policy at Fannie Mae, notes that flattened or declining home prices are already apparent in places like Northern Virginia, Maine and Massachusetts.
"They turned more quickly than anyone thought."

This is from a VI conference--very bearish?

Edited by Realistbear

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Bump:

And, rising energy prices abroad slash consumers' buying power here. These days, the economists said, it's important to frame local and national housing trends in the broadest possible context. "World economies are more in synchronization than ever before," says James Glassman, managing director of J.P.Morgan Chase & Company.

mortgagethesizeofaplanet1vm.jpg

mortgagethesizeofaplanet27dg.jpg

http://www.lewrockwell.com/orig5/mortgage-chart.gif

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marvin_left_thumb.jpg

Some sayings from Mavin.

I won't enjoy it.

- Marvin, the Paranoid Android

Well I wish you'd just tell me rather than try to engage my enthusiasm.

- Marvin, the Paranoid Android

I think you ought to know I'm feeling very depressed.

- Marvin, the Paranoid Android

Why should I want to make anything up? Life's bad enough as it is without wanting to invent anymore of it.

- Marvin, the Paranoid Android

Life! Don't talk to me about life.

- Marvin, the Paranoid Android

Life, loathe it or ignore it, you can't like it.

- Marvin, the Paranoid Android

It gives me a headache just trying to think down to your level.

- Marvin, the Paranoid Android

We have a saying up here. "Life is wasted on the living."

- Zaphod Beeblebrox the Fourth (deceased)

It doesn't take me long to get nothing done.

- Marvin, the Paranoid Android

Wearily on I go, pain and misery my only companions. And vast intelligence, of course. And infinite sorrow. I despise you all.

- Marvin, the Paranoid Android

I'm bored.

- Marvin, the Paranoid Android

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Agree 100%! The way things are going this summer may see the mother of all crashes with confusion and mayhem all around the world. Its all happening fast and its happening in all the major economies at the same time: impact of skyrocketing oil, US dollar crashing, threat of Middle East upheavel, Japan raising the rates with ripple effects already being felt as UK VIs notch up fixed term rates notwithstanding BoE innaction, Chinese economy overheating and the threat of hyperinflation in the world's 5th (??)largest ecoonomy, Gordon's "Miracle Economy" unravelling with higher unemployment, deficits widening, inflation in non-discretionaries soaring and the beginning of the long awaited HPC starting to be reported in the press. A international witches brew of catastrophic proportion. :blink:

IN the end, Dr. Bubb may have called it correctly: the only "survivior" may be gold and precious metals. But a week is a long time in economics and metals have a nasty habit of turning on a dime.

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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