tag:blogger.com,1999:blog-7123542260692860177.post1415777391068262192..comments2023-12-02T00:38:46.467-08:00Comments on House Hunt Victoria: Maybe this time it really is different?HouseHuntVictoriahttp://www.blogger.com/profile/07456914359088891317noreply@blogger.comBlogger8125tag:blogger.com,1999:blog-7123542260692860177.post-86744543184634480892007-08-24T05:39:00.000-07:002007-08-24T05:39:00.000-07:00more recesion coming in the US talk this morning,w...more recesion coming in the US talk this morning,when you hear it first thing in the morning the story usually has some legs to it.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-25559456469721391722007-08-23T12:43:00.000-07:002007-08-23T12:43:00.000-07:00I'm wondering if Fisgard Financial is going to get...I'm wondering if Fisgard Financial is going to get hammered here, locally? Anyone know anything about their mortgage business?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-63485271713180340612007-08-23T11:39:00.000-07:002007-08-23T11:39:00.000-07:00Coventree and other non-bank owned funds failed to...<I>Coventree and other non-bank owned funds failed to roll over most of their asset-backed commercial paper last week as mounting losses on U.S. subprime mortgages led investors to shun all but the safest government debt. The funds have assets of almost C$40 billion in debt due within a year in a market worth about C$120 billion, according to ratings company DBRS Ltd.</I><BR/><BR/>Looks like we're going to start feeling out own credit crunch.Villagehttps://www.blogger.com/profile/01880618948392892946noreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-14061734440981612582007-08-23T11:26:00.000-07:002007-08-23T11:26:00.000-07:00"i think people are really unwilling to believe th..."i think people are really unwilling to believe that anything bad could happen, and they're clinging to that."<BR/><BR/>Bad for them that is. It will be GOOD for me, lol.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-38717086805179725892007-08-23T11:22:00.000-07:002007-08-23T11:22:00.000-07:00From MSN.com"Countrywide's CEO sees housing- led r...From MSN.com<BR/><BR/>"Countrywide's CEO sees housing- led recession"<BR/><BR/>http://www.msnbc.msn.com/id/20405745/<BR/><BR/>S2Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-90111898065642057042007-08-23T11:13:00.000-07:002007-08-23T11:13:00.000-07:00i have a friend who just bought a condo downtown, ...i have a friend who just bought a condo downtown, and she's convinced that it's going to go up and up and up in value. she mentioned something the other day about being sure that it would be up $50,000 in the next few months (it's a $260,000 condo). i think people are really unwilling to believe that anything bad could happen, and they're clinging to that.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-59373574689637065682007-08-22T22:13:00.000-07:002007-08-22T22:13:00.000-07:00It's easy to get down somedays but my thinking is ...It's easy to get down somedays but my thinking is the credit tightening rules is going to be huge,think of all those people that won't qualify. I bet 50% of the FTB's won't cut the mustard with nothing down unless they are making over $100,000,it just needs to filter thru over the next couple of months. <BR/><BR/>Last weeks smack down was a wake up call and this is far from over but in the end the world will still function and a recession will happen,remember September and October are notoriously harsh months especially when bad news is every where. <BR/><BR/> The early 90's recession was so slow you didn't notice it,you were too busy calculating out Freedom 35,then boom,a pullback of 15 % then flat for 7 years when lots of stuff was still getting built,people were still buying cars,and TV's,they just slowed their pace and supply/demand took over.<BR/> <BR/>Chin up HHV,the markets never tanked huge in the early 90's and I dont recall any massive stock market declines in 81 where they were jumping out windows, they just simply stopped buying cause they couldnt afford it and new lending standards will be the catalyst and higher interest rates are inevitable in Canada though that may be set back a couple months.<BR/><BR/>I'm playing the oil & metals angle too cause those are areas that the world will always need,you just have to be picky on what you buy and play the trends. <BR/><BR/>There's another diatribe for ya. :)Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7123542260692860177.post-51496428520851862312007-08-22T20:38:00.000-07:002007-08-22T20:38:00.000-07:00I say everything with no authority, no economics d...I say everything with no authority, no economics degree just opinion. =)<BR/><BR/>I agree with your high inflation scenario. I view inflation as monetary(M3) inflation. Price I believe is just a symptom of that. Before the US stopped publishing it's number, I think it was running around 10%+.<BR/><BR/>It seems to me, that because of this. Stock markets numbers, though large are just representing the rapid decline of the fiat currency these last few years. All this newly minted wealth needed to go somewhere, houses and commodities seemed to be the place. People wanted tangible (I can touch) items after the tech bubble.<BR/><BR/>Since I don't expect central banks to take their medicine and flush out the system. I prefer to try and predict the next bubble formation. Personally I'm betting on oil/energy and precious metals.<BR/><BR/>This doesn't mean I don't expect the stock markets to take a beating. I think we are in the calm before the storm. Too much money was bet on subprime/alt-a loans that are going to go bad. The numbers they are talking, I just don't believe it's possible not to have a greater fall out into the general economy. Hell, even if housing doesn't crash. The amount of money it's costing people to service their mortgages comes out of their starbucks/old navy shopping budget.<BR/><BR/>Somewhere, someone is going to get hit by this bus. Probably me, when I've finally capitulated that this time it is different.<BR/><BR/>Sorry for the long diatribe.Villagehttps://www.blogger.com/profile/01880618948392892946noreply@blogger.com