Posted on 09/21/2006 8:02:27 PM PDT by GodGunsGuts
Stay out from under my bed. I shoot intruders.
I was thinking that, but didn't post it to the thread.
People who work on the street come from all over and as you SHOULD know, the Christmas/end of the year bonuses are what fuels the N.Y. housing market as well as luxury goods.
LOL...........okay, I agree with all of that. :-)
I have never mentioned dates. I only point to severe global economic imbalances that will balance themselves in their own time. Gold is already telling us something is very wrong, and it will continue to do so until the imbalances reach an albeit painful equilibrium. It's not gloom and doom, it's just basic free market economics. We as consumers and as a country have gone on a credit binge, and soon it will be time to pay the piper. It's as simple as that. You can either acknoledge this fact and profit from it, or be the one of the millions left holding the bag. It's up to you.
Jun 16th 2005 ?
I could hear the beautiful strains of "God Bless America" during that rant, couldn't you?
Speak for yourself. Your the one who always
"stumbles" onto my posts and then froths at the mouth like a rabid dog.
Some propaganda is timeless.
I still have vivid memories of 92 etc. when real estate tanked.
Also, in the course of my oh so hectic social schedule I talk to a lot of people. Contracts are being re-negotiated downward, the stuff under $2 mil is staying on the market longer.
The one building that I recently heard of prices actually rising was Courtney Love's building when she moved out.
Keep posting 15-month-old articles, chief, and people might stop taking your investment advice....
...oh wait, nobody does.
LOL
Your article is more than a year old?!! That's one slow wave you're waiting for. You and the other doomers are going to get pretty lonely waiting for that wave to finally hit the shore. This should be a cautionary tale alright. Why is it gold bugs choose to purvey doom even when the story is 18 months old and never happened?
The story was from The Economist. They've been on the real estate bubble for the last three years. They are usually reliable, but they got the timing wrong on this one.
You must be British, because you have a real flair for understatement.
It's happening right before your very eyes, and will continue to happen until the real estate bubble either fizzles or pops.
Gold bars pay no dividends. You can't use them as money. Gold is now lower today, than its high in the 1980s, and will continue to drop.
The London real estate market has already had a correction and THAT was a SOFT LANDING!
The vast majority of people buy a house or an apartment to LIVE in; as they should. Thinking that one's home is an "investment" is NOT the way to look at it.
Real estate is cyclical; it always has been.
The bald-face deception?
Agreed.
Just as valid today as the day it was written, IMHO. It is a cautionary tale that uses examples of previous real estate bubbles popping (and the reasons for them) to shed light on our own bubble.
The Economist is the only weekly magazine I still read. All the others are filled with celebrity nonsense, though U.S. News is still "okay."
The thing with bubbles is that they are easier to detect than time. Nobody ever knows how big they'll grow or when they'll burst.
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