NEW YORK – The housing slump isn't over.
Tax credits and historically low mortgage rates have failed to lift home prices so far this year. Prices fell 0.5 percent in March from February, according to the Standard & Poor's/Case-Shiller 20-city index released Tuesday.
That marks six straight months of declines — a sign that the housing market is going in reverse.
"It looks a little like a double-dip already," economist Robert Shillersaid in an interview. "There is a very real possibility of some more decline."
The co-creator of the Case-Shiller index, who predicted in 2005 that the housing bubble would burst, says he worries that home prices rose last year only because of the federal tax credits. That fear is shared by other economists. They note that weak job growth, tight credit and millions more foreclosures ahead will weigh on the home market.
All that is discouraging for homeowners who have seen the value of their largest asset deteriorate sharply over the past three years. Falling home prices tend to curtail consumer spending. And they make it harder for struggling borrowers to refinance into an affordable homeloan.
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I draw a line in the sand
ReplyDeletego ahead and cross this one
Whatever happened to just a good old home to live in and be happy with that? f.f.s. people!
ReplyDeleteThere is a HUGE difference between a House
ReplyDeleteAnd a HOME
I sure wish someone out there in money land could see that. People are so wrappped up in assets and stocks and derivatives and gold and silver and money markets and Cd's and capital this and capital that
Damn buddy ! It get's so old. Ya know there are still a couple people out there who marry for life ( and think the world of said spouse ) who buy a home and some property & thru hard work and ingenuity; make it thru life happy.
No need for goldman sachs and j p morgan
A modest home with a big garden; a little hard work and a lotta love works alot of miracles in ones life
The laws of economics are time tested. They can be delayed and influenced but they will eventually win out. Big government programs perverted the mortgage lending industry. The Feds where like a drunk behind the wheel of the economy when they crashed it they immediately drank another 1/5th and stood on the gas again.
ReplyDeleteThe second crash will be much worse partly because in will be long, slow and painful.
@ 5:57pm, If only life was like that again.
ReplyDeleteThe financial system is horrendously flawed.
ReplyDeleteThere should be no banks. Just a national treasury, where everybody has one or more accounts, as the case may be.
There should be a set limit of how much anybody can borrow at any one time, in the aggregate, like $100,000. That way real estate can't be bid up to ridiculous heights.
There should be a set minimum LIVING wage, say $20/hours.
There should be no importation of any product or serviced that is already available in the nation.
Only the Treasury should have the power to issue tokens (money).
All stock purchases and sales should have a 30 waiting period, making minute trading and manipulation impossible. Of course, other than contracts for delivery of real assets, derivatives should be outlawed.
Glass-Steagall Act should be put back in force in perpetuity.
Politicians who violate any of the foregoing are publicly executed.
This is just a start.
Yeah that was how it was like 30 years ago. That way of life came to end in the 90s. There might be marraige but it doesn't remain. There might be a "future" but it doesn't come true...
ReplyDelete656
ReplyDeletesounds good
also love my wife
watching the tudors on show time henry 8
i will never marry again
why bother
love her
People, The Chinese are reaching out and securing more of their waters further and further out. The N. Koreans are threating the South and the US Force in S Korea (this may be a little more than saber rattling), the Israelis are drilling for nuclear war. So... maybe we do not have to worry about economics as much as food, guns and basic survival. Why is it that World War 3 seems to be creeping ahead. Damn it that will really piss me off if politicians all over the world do it to us again. The greedy power mongers.
ReplyDeleteSheeple live imprisoned in homeless houses.
ReplyDeleteThe wise live in open abundant nature.
There is just too much bad stuff happening lately in this world to chalk up to mere flesh and blood humanity; it`s as though we are on some kind of out of control speeded up schedule to oblivion..I think we really pissed SOMETHING off! I believe we are about to see the big picture.. dunno, sounds nuts, I guess, but it`s the best way I can describe it.
ReplyDelete7:59 are you planning on killing your wife? Are you taking lessons from Henry the 8th? Chris Benoit demonstrated a modern day wife killer before hanging himself. Nobody talks about that sick fuck anymore. But they talk about King Henry 500+ years later. I wonder what either makes him popular or Benoit unpopular? It could be a matter of time and cooling off the horror.
ReplyDeleteI hope you love your wife, there are very few loving relationships in this day and age. Most people cling to partners now or go through them like candy because of inner pain.
8:07 I feel that too, WW3. Many people who recognize the imminent economic destruction may downplay WW3 as being far fetched. It seems that the final karma of nations is about to play out on the collective field. This is how nationalized cultures end for humans.
9:46 I relate to that. While our current ways of life that revolves around systematic strife and self obsession are about to end I must say that we won't completely go back to the Nature Religion. We will be upgraded - everything will be much more illuminated and transient; our bodies will also be given a revamp.
A couple changes the new human will have (out of 42 that I've identified):
1) Stronger nervous system,
2) connected left and right brain,
3) heightened sensitive and empath abilities,
4) Unity Consciousness/Group Vision - no more personal ambition and beliefs,
5) direct knowing of spiritual truths and extreme intuition,
6) automatic channeling and spiritual insight.
7) Quickening Potential; will take one year to master and comprehend which would have taken old humanity a lifetime.
8) Matrix Siphoning, Cosmic Connection
9) A slight ability to identify energies electromagnetically, esoterically, and biologically.
10) Extreme amount of energy, the ability to transmute gross vibrations into pure forms.
11) Polarity Integration, comprehension of thoughts and an inconclusive mind.
12) 5D Mind - Immunity to Chaos and Nihilism. Ability to interact mentally with Tao/Void (5D) consciousness, and fragmented concepts (thoughts and beliefs).
Let's put trust in this new species which will be the miracle we need now more than ever. If there won't be I'm guessing future generations will enjoy lives that center around working 100 hours a week to buy food and shelter as long as they have myspace and text messaging.
10:18 take your new age crap and hit the road dude. Man will never become some sort of 'god'
ReplyDelete