I don’t get ANY of my economic data from the WEB sites YOU suggest.
I simply remembered that nit wit NAR economist being fired for consistantly making the same predictions YOU make. I GOOGLED his name for my post so OTHERS here could read it, and THAT is how that site came up. The fact that the news of his FIRING was on that site doesn’t mean a thing. The FACT is, he was so out of touch with reallity that the NAR had NO CHOICE but to let the dope go. I can give you 100 other sites that carried the EXACT same story word for word.
Here’s a source that EVEN YOU can’t argue with ROGER…
It’s FORMER NAR ECONOMIST, David Lereah’s, 2005 Book!!! Read why Dave thinks Real Estate will continue to appreciate right through the end of the DECADE and the BOOM won’t BUST!!! :shocked
THE BEST part is… The book was written in 2005!! THE VERY PEAK OF THE MARKET!!!
G e n i u s a t W o r k !!!
In case anyone needs to be told…If you did THE EXACT OPPOSITE of what this DOPE suggests in his book, you would have walked away from this bust without a scratch!!! If you FOLLOWED his advice, YOU ARE NOW SCREWED!!
Oh…and last I checked BANKS AROUND THE WORLD ARE FAILING. Ever hear of NORTHERN ROCK, or how about German banks Sachsen LB or IKB Deutsche Industrrie Bank ?? They all bought the farm because of their exposure to U.S. mortgage backed securities. Go to the FDIC’s web site and you can read the list of OVER 30 AMERICAN BANKS THAT HAVE FAILED in the last 12 months!
The FED has pumped over a TRILLION DOLLARS into the banking system BECAUSE of this REAL ESTATE DISASTER in the LAST 6 MONTHS. We have a Goverment that is so SCARED of our current RECESSION that they’ve decided to throw the baby out with the bath water and give everyone and their brother BORROWED MONEY REFUNDS!!
Property manager points out a great overview on why things are as bad as they are and you ADMIT it will get worse, but I’m wrong when I say it???
Keep going with your 5% theory Roger. I agree with you, IT’S ALL SPECULATION…I enjoy reading your posts.
My all time FAVORITE ROGER quote…“Now, on the surface, this appears bad.”
The CEO of Bear Stearns said the EXACT SAME THING 2 weeks ago,
so your in good company!
Roger, Your a very smart guy. I read your posts because you bring something to these forums. I sure as heck don’t have all the answers. We’ll see how things go. Either way, I’m sure you’ll be making money. Meanwhile we can continue our debates about the economy. I don’t take any of this personally and hope you don’t. It doesn’t even matter who ends up being right. If we have profitable businesses we both win!!