Discussion:New Home Sales Take Surprise Tumble
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Discussion Forum Index --> General Chat --> New Home Sales Take Surprise Tumble
| 28 October 2009 | |
| Surprise? I'm not surprised. Are you surprised? The tax credit gimmick to trick people into still paying too much for a house is expiring. No surprise here.
Is the reporter the only one in the country who is surprised? http://www.msnbc.msn.com/id/33505013/ns/business-real_estate | |
| 28 October 2009 | |
| she is like many of my clients who are surprised when the repo man finally comes and gets their car. | |
| 28 October 2009 | |
| That's right. I haven't paid my car note, and these awful people took my car away. lol. | |
| 28 October 2009 | |
| By the way, I'm going out on a limb and making a prediction.
Speaking of gimmicks. I've said before, the once proud USA basically has a gimmick economy now. Everyone is out for a fast buck, and d*amn the future. Here's some recent history: Dot.com.....Dot.bomb Real Estate Boom....Real Estate Bust My next prediction for the national gimmick: Obsession with China, which I am terming the China Gold Rush(TM). Every 401(k) and investment dollar in America will now rush to China and the other Asian err Tigers........and the whole thing will go bust (again, actually, because it happened in 98? Right?) I'm sure Roubini has already predicted this somewhere, but there's my prediction. | |
| 28 October 2009 | |
| I also have quite a few clients who call me
Them: "The IRS just levied my bank account/wages." Me: "Did you get any letters from the IRS before this happened, or is this the first you knew about the problem?" Them: "My husband said we got 5 maybe 6 letters, but he didn't understand them so he didn't tell me about them. So yes, this is the first I knew about the problem." or better yet "My husband said we got 5 maybe 5 letters, but he thought they were wrong, so he didn't worry about them. He just told me about them." | |
| 28 October 2009 | |
| As far as the China Gold Rush (TM), as long as we get out at the top there is no harm, right? I mean, shouldn't I get in before you and everyone else does? | |
| 28 October 2009 | |
| True, if you can see that top coming before it comes, and get out, all is well.
Something about this China thing concerns me... they are throwing a lot of money around over there, and it stands to reason that some of that money is not going to be put to productive use. So, they could end up with massive overcapacity....and an old fashioned business cycle bust. It's like I was telling a Chinese friend of mine the other day..."don't put all legs in one basket." I think he got my point, because he responded in Chinese with "white devil give good advice again". | |
