Greenspan says odds of recession a third to half

[cockney]

Former Fed chief says credit crisis abating despite banks’ large losses

URL: http://www.msnbc.msn.com/id/21117327/ (http://www.msnbc.msn.com/id/21117327/)

[Van Gogh]

Among risks that could worsen a U.S. downturn were the wider consequences of large declines in house prices, he said.

America needs housing prices to go down, but this a-hole wants it to stay up?!!

[2Sheds_Jackson]

America needs housing prices to go down, but this a-hole wants it to stay up?!!

Well of course. Real estate is supposed to be a sound investment - who's gonna plunk down $300k on something that depreciates like a Yugo? It's probably going to continue to decline a bit in several markets that were over-inflated ...but as long as it doesn't happen too steeply or for too long, things should be ok.

[9mmRifle]

Former Fed chief says credit crisis abating

Things can only improve from here on

http://img523.imageshack.us/img523/2130/bushdeficitgraphicyx0.gif

[Lt-Col A. Tack]

Things can only improve from here on

http://img523.imageshack.us/img523/2130/bushdeficitgraphicyx0.gif

Uhh...yeah...lot of context there :roll:

[Lt-Col A. Tack]

Just so long as it happens with a democrat at the helm!


I'm already pretending to act like I don't know any better :)

[ßå$tĮТHÏ¿ð]

Well of course. Real estate is supposed to be a sound investment - who's gonna plunk down $300k on something that depreciates like a Yugo? It's probably going to continue to decline a bit in several markets that were over-inflated ...but as long as it doesn't happen too steeply or for too long, things should be ok.

Things will be ok, if the Fed stays ontop of it.

But alas, many homes are now going into foreclosure. A lot of southern Florida based mortgage companies (yay ARM), have went **** up and are being encorperated into other companies. As inventory rises, prices will fall to intice buyers and you will see many people lose the shirts off there backs. The only thing thats keeping the real estate market going, is luxury real estate.

BTW, the bubbles wont burst in any major cities. The "pre-construction condo" market will keep people buying, while effectively pushing the "poor" Americans living in low cost rental units out on the streets or out of the city.

[11 Bravo]

"Bubbles"....Florida is a bad example of anything....especially house/condo value barometers. Sure the "poor" will go into the streets with your pushing analogy...what an arse !.


PS - greenspan is a hack...is that not plain to see ?.




Things will be ok, if the Fed stays ontop of it.

But alas, many homes are now going into foreclosure. A lot of southern Florida based mortgage companies (yay ARM), have went **** up and are being encorperated into other companies. As inventory rises, prices will fall to intice buyers and you will see many people lose the shirts off there backs. The only thing thats keeping the real estate market going, is luxury real estate.

BTW, the bubbles wont burst in any major cities. The "pre-construction condo" market will keep people buying, while effectively pushing the "poor" Americans living in low cost rental units out on the streets or out of the city.

[MichaelF]

I'd like to see Interest Rates go up in the New Year, to bolster the $.

Not before, though.

[ßå$tĮТHÏ¿ð]

"Bubbles"....Florida is a bad example of anything....especially house/condo value barometers. Sure the "poor" will go into the streets with your pushing analogy...what an arse !.


PS - greenspan is a hack...is that not plain to see ?.

http://en.wikipedia.org/wiki/Subprime_mortgage_financial_crisis

Its not just in Florida. Rent prices are ever climbing, especially in major cities. No wonder you made dumb arse of the week.


I'd like to see Interest Rates go up in the New Year, to bolster the $.

Our Canadian Loonie surpased the Green Back earlier this month, first time since the 70's. This will bring down many Canucks to the border lying cities due to the selection and prices (less tax also...), but over-all is bad for both countries. I hope it comes up, after I am finished buying stuff :)

[Thor]

Things can only improve from here on

http://img523.imageshack.us/img523/2130/bushdeficitgraphicyx0.gif
This year's deficit will constitute 1.2 percent of GDP. This is historically very low. In only 5 years since 1974, during the Clinton boom/bubble 1997-2001, has the US deficit been lower than what is projected for 2007.

Even when the deficit reached a top level of 3.5-3.6 percent of GDP in 2003 and 2004, this was in the same magnitude as leading European countries such as Germany, Francy, Italy and Great Britain, and much lower than in Japan. This was also far from any US record. During 9 of the 12 years from 1982 to 1993 was the deficit greater than in 2004.