Comments on: State Economy Continues to Slow http://seattlebubble.com/blog/2008/04/16/state-economy-continues-to-slow/ News & discussion about real estate & the housing bubble in the Seattle area. Sat, 21 Nov 2009 10:02:55 -0800 http://wordpress.org/?v=2.8.6 hourly 1 By: TJ_98370 http://seattlebubble.com/blog/2008/04/16/state-economy-continues-to-slow/#comment-46561 TJ_98370 Sat, 19 Apr 2008 20:02:03 +0000 http://seattlebubble.com/blog/?p=1835#comment-46561 <i>"This is worse than the S&L crisis. This is the first time - this is the worst credit bubble we've ever had in American history. No - ever in American history have people been able to buy a house with no money down, never. That's never happened anytime in the world. So, we have the worst credit bubble. It's going to take a long time to work its way out. You don't cure a bubble in five or six months... It takes five or six years." Jim Rogers, November 6, 2007 (Bloomberg interview with Kathleen Hays) </i> James B. Rogers, Jr. (born October 19, 1942) is an American investor and financial commentator. He is co-founder, along with George Soros, of the Quantum Fund, and is a college professor, author, world traveler, economic commentator, and creator of the Rogers International Commodities Index (RICI).<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('46561','TJ_98370',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('46561','TJ_98370','<i>\"This is worse than the S&L crisis. This is the first time - this is the worst credit bubble we\'ve ever had in American history. No - ever in American history have people been able to buy a house with no money down, never. That\'s never happened anytime in the world. So, we have the worst credit bubble. It\'s going to take a long time to work its way out. You don\'t cure a bubble in five or six months... It takes five or six years.\" \r\n\r\nJim Rogers, November 6, 2007 (Bloomberg interview with Kathleen Hays) <\/i>\r\n\r\nJames B. Rogers, Jr. (born October 19, 1942) is an American investor and financial commentator. He is co-founder, along with George Soros, of the Quantum Fund, and is a college professor, author, world traveler, economic commentator, and creator of the Rogers International Commodities Index (RICI).',''); return false;">Quote</a></div> “This is worse than the S&L crisis. This is the first time – this is the worst credit bubble we’ve ever had in American history. No – ever in American history have people been able to buy a house with no money down, never. That’s never happened anytime in the world. So, we have the worst credit bubble. It’s going to take a long time to work its way out. You don’t cure a bubble in five or six months… It takes five or six years.”

Jim Rogers, November 6, 2007 (Bloomberg interview with Kathleen Hays)

James B. Rogers, Jr. (born October 19, 1942) is an American investor and financial commentator. He is co-founder, along with George Soros, of the Quantum Fund, and is a college professor, author, world traveler, economic commentator, and creator of the Rogers International Commodities Index (RICI).

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]]> By: FreedomLover http://seattlebubble.com/blog/2008/04/16/state-economy-continues-to-slow/#comment-46542 FreedomLover Sat, 19 Apr 2008 03:04:42 +0000 http://seattlebubble.com/blog/?p=1835#comment-46542 Buceri - it's back to digging ditches. Honest manual labor is the way to go.<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('46542','FreedomLover',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('46542','FreedomLover','Buceri - it\'s back to digging ditches. Honest manual labor is the way to go.',''); return false;">Quote</a></div> Buceri – it’s back to digging ditches. Honest manual labor is the way to go.
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]]> By: Buceri http://seattlebubble.com/blog/2008/04/16/state-economy-continues-to-slow/#comment-46502 Buceri Fri, 18 Apr 2008 11:12:27 +0000 http://seattlebubble.com/blog/?p=1835#comment-46502 FreedomLover - when most of the economy is based on paper pushing, fees, and going shopping... it comes as no surprise..<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('46502','Buceri',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('46502','Buceri','FreedomLover - when most of the economy is based on paper pushing, fees, and going shopping... it comes as no surprise..',''); return false;">Quote</a></div> FreedomLover – when most of the economy is based on paper pushing, fees, and going shopping… it comes as no surprise..
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]]> By: FreedomLover http://seattlebubble.com/blog/2008/04/16/state-economy-continues-to-slow/#comment-46496 FreedomLover Fri, 18 Apr 2008 05:53:27 +0000 http://seattlebubble.com/blog/?p=1835#comment-46496 Amazing what a house of cards this economy is. It literally rests on nothing.<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('46496','FreedomLover',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('46496','FreedomLover','Amazing what a house of cards this economy is. It literally rests on nothing.',''); return false;">Quote</a></div> Amazing what a house of cards this economy is. It literally rests on nothing.
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]]> By: Greg M http://seattlebubble.com/blog/2008/04/16/state-economy-continues-to-slow/#comment-46491 Greg M Fri, 18 Apr 2008 03:04:40 +0000 http://seattlebubble.com/blog/?p=1835#comment-46491 Does anyone think we will see a decrease in construction costs? I think the labor costs for construction in this part of the country are obsencely high but am hoping they will drop prior to starting construction on my house. I'd be interested to hear what all of you think.<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('46491','Greg M',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('46491','Greg M','Does anyone think we will see a decrease in construction costs? I think the labor costs for construction in this part of the country are obsencely high but am hoping they will drop prior to starting construction on my house. I\'d be interested to hear what all of you think.',''); return false;">Quote</a></div> Does anyone think we will see a decrease in construction costs? I think the labor costs for construction in this part of the country are obsencely high but am hoping they will drop prior to starting construction on my house. I’d be interested to hear what all of you think.
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]]> By: -------------------------------- http://seattlebubble.com/blog/2008/04/16/state-economy-continues-to-slow/#comment-46487 -------------------------------- Fri, 18 Apr 2008 02:11:00 +0000 http://seattlebubble.com/blog/?p=1835#comment-46487 Bennett Homes just laid off 20 more people. This is the third layoff in the last six months. So much for the spring bounce. Check out there current promotion. Looks like a desperate move if you ask me. http://www.bennetthomes.com/PDF/promotions/PriceGuaranteed.pdf<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('46487','--------------------------------',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('46487','--------------------------------','Bennett Homes just laid off 20 more people. This is the third layoff in the last six months. So much for the spring bounce. Check out there current promotion. Looks like a desperate move if you ask me. \r\n\r\nhttp:\/\/www.bennetthomes.com\/PDF\/promotions\/PriceGuaranteed.pdf',''); return false;">Quote</a></div> Bennett Homes just laid off 20 more people. This is the third layoff in the last six months. So much for the spring bounce. Check out there current promotion. Looks like a desperate move if you ask me.

http://www.bennetthomes.com/PDF/promotions/PriceGuaranteed.pdf

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]]> By: Garth http://seattlebubble.com/blog/2008/04/16/state-economy-continues-to-slow/#comment-46446 Garth Thu, 17 Apr 2008 14:36:18 +0000 http://seattlebubble.com/blog/?p=1835#comment-46446 Our state has about the same population as Arizona, where they have lost 2000-3000 construction jobs a month since January, I don't see much in there that directly reflects the core of the local economy as building and hospitality are bound to decline amid a national downturn. Tim, As you have been doing more interviews and talking about real estate with the media and more of the general population do you run into the hugely bullish on Seattle real estate attitude that seems so prevalent with almost everyone I talk to? In the comments on this blog sometimes I feel like the bubbleheads think I work in real estate, while when I talk to people other than my dad about real estate they think I am way too conservative and negative. In fact several times people have scoffed at the premise that it is possible we won't see gains in the next couple of years, much less price declines.<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('46446','Garth',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('46446','Garth','Our state has about the same population as Arizona, where they have lost 2000-3000 construction jobs a month since January, I don\'t see much in there that directly reflects the core of the local economy as building and hospitality are bound to decline amid a national downturn.\r\n\r\nTim,\r\n\r\nAs you have been doing more interviews and talking about real estate with the media and more of the general population do you run into the hugely bullish on Seattle real estate attitude that seems so prevalent with almost everyone I talk to?\r\n\r\nIn the comments on this blog sometimes I feel like the bubbleheads think I work in real estate, while when I talk to people other than my dad about real estate they think I am way too conservative and negative. In fact several times people have scoffed at the premise that it is possible we won\'t see gains in the next couple of years, much less price declines.',''); return false;">Quote</a></div> Our state has about the same population as Arizona, where they have lost 2000-3000 construction jobs a month since January, I don’t see much in there that directly reflects the core of the local economy as building and hospitality are bound to decline amid a national downturn.

Tim,

As you have been doing more interviews and talking about real estate with the media and more of the general population do you run into the hugely bullish on Seattle real estate attitude that seems so prevalent with almost everyone I talk to?

In the comments on this blog sometimes I feel like the bubbleheads think I work in real estate, while when I talk to people other than my dad about real estate they think I am way too conservative and negative. In fact several times people have scoffed at the premise that it is possible we won’t see gains in the next couple of years, much less price declines.

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]]> By: Scotsman http://seattlebubble.com/blog/2008/04/16/state-economy-continues-to-slow/#comment-46441 Scotsman Thu, 17 Apr 2008 07:23:56 +0000 http://seattlebubble.com/blog/?p=1835#comment-46441 Hmmmm, sounds like someone left the gate open and a few precious pink ponies have wandered away....<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('46441','Scotsman',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('46441','Scotsman','Hmmmm, sounds like someone left the gate open and a few precious pink ponies have wandered away....',''); return false;">Quote</a></div> Hmmmm, sounds like someone left the gate open and a few precious pink ponies have wandered away….
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]]> By: The Tim http://seattlebubble.com/blog/2008/04/16/state-economy-continues-to-slow/#comment-46413 The Tim Wed, 16 Apr 2008 21:36:10 +0000 http://seattlebubble.com/blog/?p=1835#comment-46413 Sorry this is so late. I spent the morning down in Greenlake doing an interview with <a href="http://www.king5.com/sharedcontent/northwest/bios/stories/NW_EVEbioDever.fcbb96e7.html" rel="nofollow">Jim Dever</a> for an Evening Magazine segment that will air sometime during the week of April 28 - May 2.<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('46413','The Tim',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('46413','The Tim','Sorry this is so late. I spent the morning down in Greenlake doing an interview with <a href=\"http:\/\/www.king5.com\/sharedcontent\/northwest\/bios\/stories\/NW_EVEbioDever.fcbb96e7.html\" rel=\"nofollow\">Jim Dever<\/a> for an Evening Magazine segment that will air sometime during the week of April 28 - May 2.',''); return false;">Quote</a></div> Sorry this is so late. I spent the morning down in Greenlake doing an interview with Jim Dever for an Evening Magazine segment that will air sometime during the week of April 28 – May 2.
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