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Debates Forum

  1. Standard member sh76
    Civis Americanus Sum
    23 Nov '09 17:55
    http://voices.washingtonpost.com/economy-watch/2009/11/oct_existing_home_sales_jump_r.html

    Oct. existing home sales jump record 10.1 percent.

    Yes, the $8,000 incentive could be a reason, but maybe, just maybe, the sky is not falling on the great capitalist economic system we in the Western World have built.
  2. Standard member PBE6
    Bananarama
    23 Nov '09 18:20
    Originally posted by sh76
    maybe, just maybe, the sky is not falling on the great capitalist economic system we in the Western World have built.
    SHHHHH!!!! Don't jinx it.
  3. Standard member uzless
    The So Fist
    23 Nov '09 18:26
    Originally posted by sh76
    http://voices.washingtonpost.com/economy-watch/2009/11/oct_existing_home_sales_jump_r.html

    [b]Oct. existing home sales jump record 10.1 percent.


    Yes, the $8,000 incentive could be a reason, but maybe, just maybe, the sky is not falling on the great capitalist economic system we in the Western World have built.[/b]
    The real question that should be asked is......

    WHO is buying the homes? Are they Americans looking for somewhere to live, or are they investors looking to buy homes on the cheap?

    A housing recovery based on speculators is not a good thing.
  4. Standard member Palynka
    Upward Spiral
    23 Nov '09 18:38
    Originally posted by uzless
    The real question that should be asked is......

    WHO is buying the homes? Are they Americans looking for somewhere to live, or are they investors looking to buy homes on the cheap?

    A housing recovery based on speculators is not a good thing.
    It's seems pretty inevitable that some 'mopping up' by investors (who have or can find the funds) will happen at the end of a recession. The question is if these are the ones who got it right or if they'll also need mopping up.
  5. Standard member sh76
    Civis Americanus Sum
    23 Nov '09 19:01
    Originally posted by uzless
    The real question that should be asked is......

    WHO is buying the homes? Are they Americans looking for somewhere to live, or are they investors looking to buy homes on the cheap?

    A housing recovery based on speculators is not a good thing.
    The $8,000 credit only goes to first time home buyers (although they're expanding it to include some repeat buyers too). Also, to take the credit, you need the home to be your primary residence.

    If the $8,000 credit is helping to or fueling the increase, then it is not speculators doing the buying.
  6. 23 Nov '09 20:29
    Originally posted by sh76
    http://voices.washingtonpost.com/economy-watch/2009/11/oct_existing_home_sales_jump_r.html

    [b]Oct. existing home sales jump record 10.1 percent.


    Yes, the $8,000 incentive could be a reason, but maybe, just maybe, the sky is not falling on the great capitalist economic system we in the Western World have built.[/b]
    I can see a lot of Republicans thinking, "c'mon you stupid sky...keep falling!!!...at least until after those important 2010 elections"

    On the other hand, I suspect a lot of Democrats had similar sentiments back in Sep-Oct 2008.
  7. Standard member bill718
    Enigma
    23 Nov '09 20:37
    Originally posted by sh76
    http://voices.washingtonpost.com/economy-watch/2009/11/oct_existing_home_sales_jump_r.html

    [b]Oct. existing home sales jump record 10.1 percent.


    Yes, the $8,000 incentive could be a reason, but maybe, just maybe, the sky is not falling on the great capitalist economic system we in the Western World have built.[/b]
    The sky is not falling. Things will continue to improve. This will be a slow, painful recovery however. Many people are unemployed.
  8. Standard member bill718
    Enigma
    23 Nov '09 20:54
    Originally posted by sh76
    http://voices.washingtonpost.com/economy-watch/2009/11/oct_existing_home_sales_jump_r.html

    [b]Oct. existing home sales jump record 10.1 percent.


    Yes, the $8,000 incentive could be a reason, but maybe, just maybe, the sky is not falling on the great capitalist economic system we in the Western World have built.[/b]
    ...could this mean that Obama and the rest of those dirty 'ol liberals in Congress may actually be doing a pretty good job managing the broken ecomony that they took over? (I bet they won't be discussing that topic on Fox news anytime soon)
  9. Standard member sh76
    Civis Americanus Sum
    23 Nov '09 21:41 / 2 edits
    Originally posted by bill718
    ...could this mean that Obama and the rest of those dirty 'ol liberals in Congress may actually be doing a pretty good job managing the broken ecomony that they took over? (I bet they won't be discussing that topic on Fox news anytime soon)
    I think Obama is doing a pretty good job spearheading a recovery. The problem I have with Obama is his paying no mind to the ballooning debt that is spiraling out of control. He's robbing Peter (the national debt) to pay Paul (get us out of the recession). You have to try to strike a balance between the two.
  10. Standard member sh76
    Civis Americanus Sum
    23 Nov '09 21:43
    Originally posted by Melanerpes
    I can see a lot of Republicans thinking, "c'mon you stupid sky...keep falling!!!...at least until after those important 2010 elections"

    On the other hand, I suspect a lot of Democrats had similar sentiments back in Sep-Oct 2008.
    If, by "Sep," you mean January, 2001, then I agree.
  11. 23 Nov '09 21:57
    Originally posted by Melanerpes


    On the other hand, I suspect a lot of Democrats had similar sentiments back in Sep-Oct 2008.
    You really didn't have to "cheer on" the recession in late 2008, by then the damage had been done. But admittedly I was cheering at McCain's horrible luck, timing and blunders related to the economy. Like when he said "the fundamentals of the economy are strong" Or when he flaked on David Letterman last minute because he had to "rush to Washington" to deal with the crisis - Letterman fricking owned him on that one.
  12. 23 Nov '09 21:59
    Originally posted by sh76
    I think Obama is doing a pretty good job spearheading a recovery. The problem I have with Obama is his paying no mind to the ballooning debt that is spiraling out of control. He's robbing Peter (the national debt) to pay Paul (get us out of the recession). You have to try to strike a balance between the two.
    I think that's a timing issue. Once things have fully turned around I think we're going to see major spending cuts. And yes, Obama will take heat for that, too.
  13. Standard member sh76
    Civis Americanus Sum
    23 Nov '09 22:02
    Originally posted by USArmyParatrooper
    I think that's a timing issue. Once things have fully turned around I think we're going to see major spending cuts. And yes, Obama will take heat for that, too.
    It can come from spending cuts and/or certain smart tax increases. Whatever it is, it has to come from somewhere.

    Recession or no; you have to have some level or fiscal responsibility. Also, Obama knows (or should know) that rolling back spending increases and/or raising taxes is politically difficult. By showing no restraint now, he's setting himself up for some very tough work ahead if he wants to balance the budget (or come anywhere close to doing it).
  14. Standard member sh76
    Civis Americanus Sum
    23 Nov '09 22:05
    Originally posted by USArmyParatrooper
    You really didn't have to "cheer on" the recession in late 2008, by then the damage had been done. But admittedly I was cheering at McCain's horrible luck, timing and blunders related to the economy. Like when he said "the fundamentals of the economy are strong" Or when he flaked on David Letterman last minute because he had to "rush to Washington" to deal with the crisis - Letterman fricking owned him on that one.
    Except that he was right. The fundamentals of the US economy are and were strong.

    When the Yankees lose 3 games in a row, they're still fundamentally a strong team. When they have a bad year, they're still a strong franchise.
  15. 23 Nov '09 22:48
    Originally posted by sh76
    http://voices.washingtonpost.com/economy-watch/2009/11/oct_existing_home_sales_jump_r.html

    [b]Oct. existing home sales jump record 10.1 percent.


    Yes, the $8,000 incentive could be a reason, but maybe, just maybe, the sky is not falling on the great capitalist economic system we in the Western World have built.[/b]
    all the comments at the OP's link are negative, including this one:

    Posted by: morphylius | November 23, 2009 12:13 PM

    Why should I consider this 10.1% jump good news? "First time home buyers" are people who are young and/or a poor credit risk. In other words, if unemployment increases next year, they are the ones most likely to lose their jobs. That would add significantly to the 14% of homes in foreclosures right now.