Posted: Fri May 09, 2008 11:46 am Post subject: Re: Housing & Economic Collapse - In Progress - #2
FoxV, Thanks so much for the article. I'll read it later on in the day. Many people don't understand the depth and severity of the crisis, nor how long it's been building.
Last edited by threadbear on Fri May 09, 2008 6:15 pm; edited 1 time in total
Joined: May 19, 2005 Posts: 795 Location: Merry Ol' USA
Posted: Fri May 09, 2008 12:33 pm Post subject: Re: Housing & Economic Collapse - In Progress - #2
Completely anecdotal, but today returning to the office at lunch I counted 11 "for sale" signs in a 2 mile stretch. 4 or 5 months ago there were zero. Now granted 4 or 5 months ago was winter, so I'd attribute at least part of it to the nice weather, but surely not all of it. A local real estate stat said sales were down 35% from the previous year. A lot of the contractors and building projects we're involved with have simply stopped altogether. _________________ After fueling up their cars, Twyman says they bowed their heads and asked God for cheaper gas.There was no immediate answer, but he says other motorists joined in and the service station owner didn't run them off.
Posted: Fri May 09, 2008 12:57 pm Post subject: Re: Housing & Economic Collapse - In Progress - #2
Anecdotal tale... I have heard of a few specific instances of high-rise apartment complex developers pulling the plug on projects, including one I believe I mentioned in the original housing collapse thread a month ago, which was at the ground clearance stage at the time. Some more not even prepped. Reason given is "delayed until the market comes back in a few years". Land bought, leases signed already, so the sites will probably sit empty, sprout weeds and stick the developers with millions of pounds of negative equity. I will see if I can get a name later this month, though it won't necessarily mean anything as this kind of work is often subcontracted.
This is good news. The city centre BTL apartment bubble must be a little closer to getting pricked.
Posted: Fri May 09, 2008 4:19 pm Post subject: Re: Housing & Economic Collapse - In Progress - #2
My wife has just been informed that her classes are going to be cut and she will have a reduction in salary of another $5,000. That cut plus two others, one hers and one mine drops our combined income by $13,000 next year. She teaches in a central Florida school.
Joined: Jun 13, 2007 Posts: 3583 Location: Minniesotuh
Posted: Fri May 09, 2008 4:21 pm Post subject: Re: Housing & Economic Collapse - In Progress - #2
Cloud9 wrote:
My wife has just been informed that her classes are going to be cut and she will have a reduction in salary of another $5,000. That cut plus two others, one hers and one mine drops our combined income by $13,000 next year. She teaches in a central Florida school.
Oh, no! I suppose it is too late to move? _________________ "RRrrruuuunnnn!!!" ~Apocalypto
Posted: Fri May 09, 2008 6:06 pm Post subject: Re: Housing & Economic Collapse - In Progress - #2
Cloud9 wrote:
My wife has just been informed that her classes are going to be cut and she will have a reduction in salary of another $5,000. That cut plus two others, one hers and one mine drops our combined income by $13,000 next year. She teaches in a central Florida school.
Based on your username I would say you are from St. Cloud. Isn't that Osceola county? Sorry to hear that about your wife. How many teachers are the cutting out district wide?
Posted: Fri May 09, 2008 6:50 pm Post subject: Re: Housing & Economic Collapse - In Progress - #2
threadbear said:
Quote:
Because they can't control the action of the hedge funds and other large institutional investors who are bidding the price up.
That still doesn’t explain why refineries are continuing to increase inventories in the face of skyrocketing prices. We should see inventories going down, especially since the refineries are doing very badly right now. The idea that hedge funds would go nose to nose with the oil industry for five months is ridiculous, since 85% of the volume traded is done by the end consumer, the refineries. The hedge funds would get crushed, again.
If the hedge funds were intentionally pushing up oil prices, they would also be shorting refineries. We should see huge short position against the refineries. We aren’t.
There is a much more fundamental reason behind all of this!
Posted: Fri May 09, 2008 7:08 pm Post subject: Re: Housing & Economic Collapse - In Progress - #2
Remember when we saw the price rise and fall dramatically at the end of month contracts expiration? Does not happen now, whats up with that? _________________ -Dac
Winners never quit and quiters never win, but those that never win and never quit are idiots.
Posted: Fri May 09, 2008 7:23 pm Post subject: Re: Housing & Economic Collapse - In Progress - #2
I am not sure how many are dropped in the district. I know of 11 first hand from the two schools I have contact with. We cannot move. We were born here. Our people are burried here. Our parents are very old and our son's legal practice is here. We won't leave unless the whole state goes under water.
Joined: Oct 15, 2004 Posts: 2185 Location: Arkansas
Posted: Fri May 09, 2008 7:38 pm Post subject: Re: Housing & Economic Collapse - In Progress - #2
Dac,
That bank failure you linked is to one of the banks I warned about many, many posts ago. I've been involved with several lawsuits with them. It is only the first of at least 3 in my area that will close this year. Here's another link to the story:
Joined: Oct 27, 2006 Posts: 746 Location: Soviet Canada
Posted: Sat May 10, 2008 1:09 am Post subject: Re: Housing & Economic Collapse - In Progress - #2
Cloud9 wrote:
My wife has just been informed that her classes are going to be cut and she will have a reduction in salary of another $5,000. That cut plus two others, one hers and one mine drops our combined income by $13,000 next year. She teaches in a central Florida school.
Cool, another dipshit who thinks the world revolves around them loses their job. Hurray!
Lol. Seriously. I have no sympathy for you. Go work at McDonalds, or Burger King like the rest of us farking service workers.
That sounds bad, and shitty. Yeah, but you know what? Fark like you are the problem, not the solution. Collecting a paycheque from the taxpayer, and you are bitching because you got your hours cut?
farking civil servant.
Seriously. I hate you people. Educate our children? Nah, you Fark just collect a paycheque and benefits. You really don't give a crap about kids, unless you you get payed. And don't even try to tell us different. I know teachers. I have 3 of them in my family. They are all the farking same.
See you on the front lines flipping burgers, and turning sod buddy.
Whoo Hooo! I have a teaching degree! I want the taxpayer to pay for my farking overpriced house and farking SUV and farking 401k!
Go Fark yerself.
I have an education, I have a work ethic, and I would never ever bitch out loud about government cutting my farking hours. Because what you have is a farking bonus , friend. See it as such. It ain't gonna last too long either. Learn to cook, or learn to turn ground.
Sorry, rant over. I am just a poor shmuck who sees these farking liberal entitlement loving assholes turned away to the real world.
Joined: Aug 03, 2007 Posts: 3636 Location: Boston Suburbs
Posted: Sat May 10, 2008 3:49 am Post subject: Re: Housing & Economic Collapse - In Progress - #2
gampy wrote:
Seriously. I hate you people. Educate our children? Nah, you Fark just collect a paycheque and benefits. You really don't give a crap about kids, unless you you get payed. And don't even try to tell us different. I know teachers. I have 3 of them in my family. They are all the farking same.
Why do you have a vendetta against public school teachers? Don't generalize.
gampy wrote:
Whoo Hooo! I have a teaching degree! I want the taxpayer to pay for my farking overpriced house and farking SUV and farking 401k!
You don't know what this person's lifestyle is like.
gampy wrote:
I am just a poor shmuck who sees these farking liberal entitlement loving assholes turned away to the real world.
So I take it you would like to kill all public education? If so, you do realize that's a pretty fringe opinion.
Listen, teaching is a thankless profession. You should be grateful anyone out there is willing to do it for all the bullshit they have to put up with.
You cannot post new topics in this forum You cannot reply to topics in this forum You cannot edit your posts in this forum You cannot delete your posts in this forum You cannot vote in polls in this forum
News
Discussions
Resources
Members
Forum FAQ
Search
Usergroups
Profile
Log in to check your private messages
Log in
