Me: also, median home price in cali is: 423k, market will balance when it is: 185
Sent at 11:43 AM on Thursday
her: it won't ever reach 185
me: lol. tell that to japan with 18 straight years of falling home prices
her: and if it does... a lot of people are going to be losing tons of money
so what do you think about me buying a home right now
me: haha they already are, the point is, it's going to be getting a ton worse. people say we have a year or 2 of this left, but they have no rational basis or historical precedent for saying so
her: marginally bad idea or a significantly bad idea?
me: ?
her: buying a house now
for me
me: HORRIBLE idea
her: see the question above
so just rent
and throw money that way?
me: I am not buying a house in this time table for shit, until I'm 30 probably
that's 2016
maybe 28, 2014
her: i am not asking about you
i am saying for me
its it best to spend 750 a month on rent
me: right. I am saying that this market is a long way from the bottom
her: or 850 on a mortgage
me: as opposed to buying? yeah. the best idea: get a roomate
her: get a roomate in a purchased home
or in a rented condo
me: rented
Sent at 11:43 AM on Thursday
her: it won't ever reach 185
me: lol. tell that to japan with 18 straight years of falling home prices
her: and if it does... a lot of people are going to be losing tons of money
so what do you think about me buying a home right now
me: haha they already are, the point is, it's going to be getting a ton worse. people say we have a year or 2 of this left, but they have no rational basis or historical precedent for saying so
her: marginally bad idea or a significantly bad idea?
me: ?
her: buying a house now
for me
me: HORRIBLE idea
her: see the question above
so just rent
and throw money that way?
me: I am not buying a house in this time table for shit, until I'm 30 probably
that's 2016
maybe 28, 2014
her: i am not asking about you
i am saying for me
its it best to spend 750 a month on rent
me: right. I am saying that this market is a long way from the bottom
her: or 850 on a mortgage
me: as opposed to buying? yeah. the best idea: get a roomate
her: get a roomate in a purchased home
or in a rented condo
me: rented
well think a viscous squeeze might be in store here (i was getting a bit too excited yesterday) more bear shake fun
might even long GOOG here for a short trade on earnings (its been beaten down 200 points from the top already)
still mulling that one over
might even long GOOG here for a short trade on earnings (its been beaten down 200 points from the top already)
still mulling that one over
jobless claims soared, keep hanging on bully i'm sure the recession will never come
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Consumer Spending Slows Abruptly in December, Turning in Weakest Growth in 6 Months
WASHINGTON (AP) -- Consumers increased their spending at the weakest pace in six months while applications for unemployment benefits soared last week, two more signs the economy is weakening.
The Commerce Department reported Thursday that consumer spending edged up just 0.2 percent in December -- the year's peak shopping season -- down sharply from a 1 percent gain in November. It was the weakest performance in this area since a similar 0.2 percent rise in June of last year.
Meanwhile, the Labor Department reported that the number of laid off workers filing applications for unemployment benefits soared by 69,000 to 375,000. That was the highest level for jobless claims since the week of Oct. 8, 2005, when the economy was dealing with the disruptions caused by Hurricane Katrina and the other Gulf Coast hurricanes.
The increase in jobless claims was more than triple what economists had been expecting although part of the increase was blamed on technical difficulties in adjusting the figures around the Martin Luther King Jr. holiday. :lolBIG:
he increase in jobless claims was more than triple what economists had been expecting although part of the increase was blamed on technical difficulties in adjusting the figures around the Martin Luther King Jr. holiday.
But private economists said they believed the figure was accurately pointing to a weakening in the job market that reflects the significant slowdown in the overall economy. Ian Shepherdson, chief U.S. analyst at High Frequency Economics, said he believed the underlying level of jobless claims currently is around 350,000, an indication of a deteriorating labor market.
The unemployment rate rose significantly in December, going up to 5 percent from 4.7 percent in November. That was the biggest one-month increase since the period immediately following the September 2001 terrorist attacks. The January unemployment figure will be reported on Friday.
------------------------------------
Consumer Spending Slows Abruptly in December, Turning in Weakest Growth in 6 Months
WASHINGTON (AP) -- Consumers increased their spending at the weakest pace in six months while applications for unemployment benefits soared last week, two more signs the economy is weakening.
The Commerce Department reported Thursday that consumer spending edged up just 0.2 percent in December -- the year's peak shopping season -- down sharply from a 1 percent gain in November. It was the weakest performance in this area since a similar 0.2 percent rise in June of last year.
Meanwhile, the Labor Department reported that the number of laid off workers filing applications for unemployment benefits soared by 69,000 to 375,000. That was the highest level for jobless claims since the week of Oct. 8, 2005, when the economy was dealing with the disruptions caused by Hurricane Katrina and the other Gulf Coast hurricanes.
The increase in jobless claims was more than triple what economists had been expecting although part of the increase was blamed on technical difficulties in adjusting the figures around the Martin Luther King Jr. holiday. :lolBIG:
he increase in jobless claims was more than triple what economists had been expecting although part of the increase was blamed on technical difficulties in adjusting the figures around the Martin Luther King Jr. holiday.
But private economists said they believed the figure was accurately pointing to a weakening in the job market that reflects the significant slowdown in the overall economy. Ian Shepherdson, chief U.S. analyst at High Frequency Economics, said he believed the underlying level of jobless claims currently is around 350,000, an indication of a deteriorating labor market.
The unemployment rate rose significantly in December, going up to 5 percent from 4.7 percent in November. That was the biggest one-month increase since the period immediately following the September 2001 terrorist attacks. The January unemployment figure will be reported on Friday.
a warning on gold from another thread eekster talking up gold.....beware
-----------------------
Originally Posted by eek. View Post
The REAL correction currently in progress isn't the sub-prime sector or the stock market.
It's the dollar, which is now heading for 0.50 of a euro.
and until you get responsible about your debt,
You guys are screwed.
Gold, or even transferring some cash to another currency, is starting to look like a really serious hedge for Americans, like back in the late 1970s.
-----------------------
Originally Posted by eek. View Post
The REAL correction currently in progress isn't the sub-prime sector or the stock market.
It's the dollar, which is now heading for 0.50 of a euro.
and until you get responsible about your debt,
You guys are screwed.
Gold, or even transferring some cash to another currency, is starting to look like a really serious hedge for Americans, like back in the late 1970s.
