The End Of The Crisis

[MJP]

samuibc,

I don't know what sort of guys you think MJP & I are, stopping at a place like that . Do they have undercover parking?

no,only under cover agents whispering "you go with me".

....ahhh its no good then, if the bike are out in the rain, well need i say more? Cross soi mango off the list then. Anyway MJP, we've gotta kickstart this economy somehow.....how are a couple of fellas on shoestring budgets going to do it?

Being a couple of loaded tight wads I can see the journey would involve buses and shoe leather.

I might have a mad moment regards bike buying but it's a long shot.

[neverdie]

I dunno MJP, you've got my attention with that omelette....what time is that being served?

Can we really kickstart the economy with omelettes?

[samee4two]

What needs to happen, is a leveling of home values....I think this is the key in solving THE HOUSING CRISIS

HOW ?

Give 3 reasons if you are the ONE

[MJP]

I dunno MJP, you've got my attention with that omelette....what time is that being served?

Can we really kickstart the economy with omelettes?

Looking forward to it.

Fair play to the old heffer, she can cook.

She might resist tasting so much of the output of the kitchen mind . . .

[Jingthing]

When the percentage of homes for sale that are foreclosures reaches the same level as before the meltdown. The end of the crisis does not mean things will the same as before the biggest economic event in our lifetimes, just that the bottom has been reached.

What needs to happen, is a leveling of home values....I think this is the key in solving THE HOUSING CRISIS

That will give people the confidence to buy and sell (and know they aren't paying way too much/little). Then, people with bad loans need to renegotiate with their banks for payments they can afford. Now we're in a credit crisis, so it's going to be tough for people to get loans to buy homes, so, the end is likely a long ways out...

Anyone who buys anything other than a deep discounted foreclosure is considered a sucker these days, and they probably are. So for normal pricing dynamics to start again, the foreclosures need to be cleared off the books. I expect the government can help with some scheme to help with this, but not entirely.

Edited December 29, 2008 by Jingthing

[AlexLah]

How about a litlle war?

It worked for Spain when they where bankrupt a few times.

Remember this guy?

He told you that "Change" was needed, remember?

Even this guy believes that....

Think of February 2009, just after the pilgrimage has finished.

Well at least TC bought a nice new pair of heels.

Always handy when standing in the line,

(A heel in yer face hurt's you know)

[neverdie]

How about a litlle war?

It worked for Spain when they where bankrupt a few times.

Remember this guy?

He told you that "Change" was needed, remember?

Even this guy believes that....

Think of February 2009, just after the pilgrimage has finished.

Well at least TC bought a nice new pair of heels.

Always handy when standing in the line,

(A heel in yer face hurt's you know)

Hey, wheres the picture of the planet spinning out of control & hitting the sun?

[Jingthing]

Spare change you can believe in?

[sorensen]

This tread just exploded into nonsens. Maybe the OP could post it again and then we take it a bit more serious.

[MJP]

How about a litlle war?

It worked for Spain when they where bankrupt a few times.

Remember this guy?

He told you that "Change" was needed, remember?

Even this guy believes that....

Think of February 2009, just after the pilgrimage has finished.

Well at least TC bought a nice new pair of heels.

Always handy when standing in the line,

(A heel in yer face hurt's you know)

Hey, wheres the picture of the planet spinning out of control & hitting the sun?

This bit of TV is getting seriously like housepricecrash.co.uk

Let's go talk about something nice . . . like how to resist ebola, or something.

[teacup]

What needs to happen, is a leveling of home values....I think this is the key in solving THE HOUSING CRISIS

HOW ?

Give 3 reasons if you are the ONE

Just to name a few

-Supply and demand.

Everyone wanted to sell, so supply shot up, bringing down the prices

-People owe banks no more than their home is "worth."

And

-The payments they can “truly” afford.

This means also the banks have to get in the act of getting back to the policy before the home loans deregulation.

Me think here

[AlexLah]

This tread just exploded into nonsens. Maybe the OP could post it again and then we take it a bit more serious.

I am very serious indeed.

You really think your government is gonna take care you?

Believe me, they will........

Oh and the Earth spinning out of control picture, me no have.

[teacup]

Well at least TC bought a nice new pair of heels.

Dear Alex

Don't bother me here .....unless you want me to STEP-ON-YOU!!.....

Edited December 29, 2008 by teacup

[cclub75]

So, to help look on the bright side, where on earth is a recovery going to show its glimmer of hope at the end of a long long dark tunnel? What could possibly be the turning point?

When we won't read such things anymore....

The 35-year-old chef has dropped the price of the house, with an outdoor jacuzzi facing toward Mont Blanc, by 13 percent to 1.5 million euros ($2.1 million). He paid 750,000 euros for the chalet in 2001.

(Bloomberg)

France's wealth didn't double from 2001 to 2008...

The same goes for the US, the UK... everywhere.

1,5 millions euros ? For a house made of wood in Chamonix ? This insanity was possible because english brookers were paid fortunes in bonus... for doing business on... winds (financial products, derivatives etc.)

It was nothing but a dream...

Now of course, the wake up call is painful.

Edited December 29, 2008 by cclub75

[sorensen]

So, to help look on the bright side, where on earth is a recovery going to show its glimmer of hope at the end of a long long dark tunnel? What could possibly be the turning point?

When we won't read such things anymore....

The 35-year-old chef has dropped the price of the house, with an outdoor jacuzzi facing toward Mont Blanc, by 13 percent to 1.5 million euros ($2.1 million). He paid 750,000 euros for the chalet in 2001.

(Bloomberg)

France's wealth didn't double from 2001 to 2008...

The same goes for the US, the UK... everywhere.

1,5 millions euros ? For a house made of wood in Chamonix ? This insanity was possible because english brookers were paid fortunes in bonus... for doing business on... winds (financial products, derivatives etc.)

It was nothing but a dream...

Now of course, the wake up call is painful.

I could need a summer house in Chamonix, is it still for sale?

[teacup]

When the percentage of homes for sale that are foreclosures reaches the same level as before the meltdown. The end of the crisis does not mean things will the same as before the biggest economic event in our lifetimes, just that the bottom has been reached.

What needs to happen, is a leveling of home values....I think this is the key in solving THE HOUSING CRISIS

That will give people the confidence to buy and sell (and know they aren't paying way too much/little). Then, people with bad loans need to renegotiate with their banks for payments they can afford. Now we're in a credit crisis, so it's going to be tough for people to get loans to buy homes, so, the end is likely a long ways out...

Anyone who buys anything other than a deep discounted foreclosure is considered a sucker these days, and they probably are. So for normal pricing dynamics to start again, the foreclosures need to be cleared off the books. I expect the government can help with some scheme to help with this, but not entirely.

And why are the people that borrowed more than they could afford not be held responsible? Everyone was happy enough to sign on the dotted line when they thought their house was going to double in value in 5 years. you gambled. Not everyone who gambles wins...

I know this is not really help, but just me thinking here

But since we are in this too deep,...I agree, there should be some sort of a government relief program on foreclosures.

[samee4two]

What needs to happen, is a leveling of home values....I think this is the key in solving THE HOUSING CRISIS

HOW ?

Give 3 reasons if you are the ONE

Just to name a few

-Supply and demand.

Everyone wanted to sell, so supply shot up, bringing down the prices

TOO many homes -> price going down (NOT LEVELING)

-People owe banks no more than their home is "worth."

Why banks want to give loans if home price is going down (NOT LEVELING)

And

-The payments they can "truly" afford.

This means also the banks have to get in the act of getting back to the policy before the home loans deregulation.

I like this answer but Many buyers loosing their jobs or staying with parents

"truly" affordable home = when home price is not more than the cost of construction + land + builder profit (25%)

We need new solutions - how about you ALEX

for example: Give foreign buyers greencards if they spent $500k and keep the home for 5 years (from one of US developers)

Me think here

[yabaaaa]

Thinking buying a new car - any suggestions?

Dinky or Mattel?? Made in China of course!!

[MJP]

Thinking buying a new car - any suggestions?

Dinky or Mattel?? Made in China of course!!

That got me laughing!

I have always been fiercely resistant to spending on motors. I'm so tight now I question the price of shoe leather.

[flying]

And why are the people that borrowed more than they could afford not be held responsible? Everyone was happy enough to sign on the dotted line when they thought their house was going to double in value in 5 years. you gambled. Not everyone who gambles wins...

I know this is not really help, but just me thinking here

But since we are in this too deep,...I agree, there should be some sort of a government relief program on foreclosures.

Oh lordy that question..............why shouldn't the ones that borrowed more than they could afford not be held responsible?

Where do we start with that one eh

Pick any branch of this government & go from there perhaps?

Then ask them that started the mess to give relief?

Im sorry I am not meaning to tease I just see it & wonder too.

That we even consider to ask a broke entity for a hand...govt. relief.....

The government is broke they have no real money.

Anything you see them spend now they are stealing from another spot that needed it just as badly.

We are not about to get 2 nickels for our dime...quite the opposite

[MJP]

And why are the people that borrowed more than they could afford not be held responsible? Everyone was happy enough to sign on the dotted line when they thought their house was going to double in value in 5 years. you gambled. Not everyone who gambles wins...

I know this is not really help, but just me thinking here

But since we are in this too deep,...I agree, there should be some sort of a government relief program on foreclosures.

Oh lordy that question..............why shouldn't the ones that borrowed more than they could afford not be held responsible?

Where do we start with that one eh

Pick any branch of this government & go from there perhaps?

Then ask them that started the mess to give relief?

Im sorry I am not meaning to tease I just see it & wonder too.

That we even consider to ask a broke entity for a hand...govt. relief.....

The government is broke they have no real money.

Anything you see them spend now they are stealing from another spot that needed it just as badly.

We are not about to get 2 nickels for our dime...quite the opposite

Well put this in yer pipe and smoke it!! Gordon says well show you!!!

http://news.sky.com/skynews/Home/Politics/...A_New_Year_Talk

[teacup]

And why are the people that borrowed more than they could afford not be held responsible? Everyone was happy enough to sign on the dotted line when they thought their house was going to double in value in 5 years. you gambled. Not everyone who gambles wins...

I know this is not really help, but just me thinking here

But since we are in this too deep,...I agree, there should be some sort of a government relief program on foreclosures.

Oh lordy that question..............why shouldn't the ones that borrowed more than they could afford not be held responsible?

Where do we start with that one eh

Pick any branch of this government & go from there perhaps?

Then ask them that started the mess to give relief?

Im sorry I am not meaning to tease I just see it & wonder too.

That we even consider to ask a broke entity for a hand...govt. relief.....

The government is broke they have no real money.

Anything you see them spend now they are stealing from another spot that needed it just as badly.

We are not about to get 2 nickels for our dime...quite the opposite

Well how about printing more money, for the bailouts

What really matters is the country's GDP, its ability to produce goods and services. & consume them. Once we have the economy moving again ( in sensible ways/means of course), may be we will be ok….yeah

Now the question is how much to print

If we print too much money, the value of the money goes down (inflation).

If we print too little, the economy can't function at full speed and, eventually the value of the money will start to go up (deflation).

We're in a recession, so the only way ( I can think of ) is to print more money…yeah?

[CPH]

House prices has to reach the level of 3 times average family yearly income and the US ISM data has to pick up.

[MJP]

House prices has to reach the level of 3 times average family yearly income and the US ISM data has to pick up.

They'll be chasing that one down for a while then. Not only does it have to fall from 5, 6, 7 . . . 10x income, incomes are falling drastically at the same time.

3 times the average of F-all is . . .

Edited December 29, 2008 by MJP

[flying]

Well how about printing more money, for the bailouts

What really matters is the country's GDP, its ability to produce goods and services. & consume them. Once we have the economy moving again ( in sensible ways/means of course), may be we will be ok….yeah

Now the question is how much to print

If we print too much money, the value of the money goes down (inflation).

If we print too little, the economy can't function at full speed and, eventually the value of the money will start to go up (deflation).

We're in a recession, so the only way ( I can think of ) is to print more money…yeah?

Well you have much company in your camp of increased printing.

But that is what I meant when I said your not going to get 2 nickels for your dime out of this printing.

They have nothing behind it now. They have already added how much to the supply?

http://www.slate.com/id/2206356/

You will enjoy that

As for consuming more goods & services

When you said back to basics I think you were closer to the truth,

We will be going back to basics big time shortly Whether we like it or not

[flying]

House prices has to reach the level of 3 times average family yearly income and the US ISM data has to pick up.

They'll be chasing that one down for a while then. Not only does it have to fall from 5, 6, 7 . . . 10x income, incomes are falling drastically at the same time.

3 times the average of F-all is . . .

All the while I grew up it was hammered into me that your housing payment should not exceed 25% of your income. I cannot tell you how many folks I now know with 4-5k monthly mortgage payments. These folks do not now nor will they ever be making 20k a month.

[MJP]

House prices has to reach the level of 3 times average family yearly income and the US ISM data has to pick up.

They'll be chasing that one down for a while then. Not only does it have to fall from 5, 6, 7 . . . 10x income, incomes are falling drastically at the same time.

3 times the average of F-all is . . .

All the while I grew up it was hammered into me that your housing payment should not exceed 25% of your income. I cannot tell you how many folks I now know with 4-5k monthly mortgage payments. These folks do not now nor will they ever be making 20k a month.

Got friends in the UK on £45k salaries with £350k+++ mortgages.

I never really did understand that.

EDIT TO ADD: £45k salaries . . . this month . . . welfare next month . . .

Edited December 29, 2008 by MJP

[samuibeachcomber]

does anyone remember the late 50's,early 60's.no credit cards,no real consumer technology in place,you worked,you saved you bought with cash.that's going back to basics in a financial sense.

[MJP]

does anyone remember the late 50's,early 60's.no credit cards,no real consumer technology in place,you worked,you saved you bought with cash.that's going back to basics in a financial sense.

Nope. In 1950 I was aged minus 25.

[samuibeachcomber]

does anyone remember the late 50's,early 60's.no credit cards,no real consumer technology in place,you worked,you saved you bought with cash.that's going back to basics in a financial sense.

Nope. In 1950 I was aged minus 25.

well from your avatar you look as old as methusaleh!maybe you should get your ass back to isaan.no credit cards in the villages of isaan,back to basics yes?