Happy Memorial Day everyone.
Thanks to everyone who has served our country and to those who continue to do so.
On a less serious note, here are some classic memories of the late great housing bubble: 2003-2006.
Regular programming will resume tomorrow.
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Heldengedenktag (1934–1945)On February 27th, 1934, the National Socialists introduced national holiday legislation to create Heldengedenktag (Day of Commemoration of Heroes), cementing the observance. In the process, they completely changed the character of the holiday: the emphasis shifted to hero worship rather than remembering all the dead. Joseph Goebbels as Propaganda Minister issued guidelines on content and implementation, instructing that flags no longer be flown at half-mast. The last Heldengedenktag was celebrated in 1945.
Volkstrauertag (German: national day of mourning) is a public holiday in Germany. It is observed two Sundays before the first of Advent, and commemorates those who died in war and the victims of violent oppression. In its modern form, it was first observed in 1952.
Perhaps the USA needs a holiday more like Volkstrauertag where not only brave service members are mourned, but also the victims of war. This would include the victims killed by US troops, in wars initiated by the US.
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In the spirit of Time Magazine covers as potentially a contrarian indicator, I think you need to add this one as well:
http://www.time.com/time/covers/0,16641,20100906,00.html
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A big thanks to those who serve, or have served. How many know about this?
http://www.youtube.com/watch?v=9E7GLdYhm3s&feature=player_embedded
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2003 to 2006 was a spike in pricing. The bubble is a longer sustained event. I think we have targeted 1998 as the start of the bubble, but some have it going back to 1987. Changes in banking regulation, and legislation having to do with the financial markets is much more to the point than the exhuberance of the pricing spike.
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Suzanne Researched This is the best commercial ever.
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By Herman @ 5:
Ditto! Alternate title: This listing is special, you sad, sad man.
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RE: Scotsman @ 3 -Nice Link!
Rick
“Renter by choice,” a term I learned today.
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RE: Scotsman @ 3 –
WOW Scotsman..Thanks…I’m down here with dad in Carson City who is 90 on Aug 15. He is a WWII Vet and talks about his time in the Phillipines during the war. He stopped going to his reunions because all his friends are now dead.
I will certainly watch this with Dad… I knew NOTHING about this!….Again, thank you so much…………..
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By deejayoh @ 2:
The CS 20-city composite has went down every month since the article ran and is still dropping. Why is the article contrarian?
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Let’s not forget this gem…
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RE: Dirty Renter @ 10 – Nice. I thought all the Downfall parodies got DMCA takedowns and disappeared off YouTube. Nice to see that at least some of them survived.
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By Jonness @ 9:
I might ask: Home prices went up 2 years after the first cover. Why is the timing bad on that one?
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By deejayoh @ 12:
Cover 1: Home $weet Home – Most people who bought at the time the article is dated were underwater at the time the tax credit peaked prices and are even further underwater now.
Cover 2: Rethinking Home Ownership – Most people who sold or failed to buy at the time the article is dated have made/saved a large amount of money from the decision.
I agree Cover 1 was a total crapshoot into nowhere, but house prices have been steadily falling in most areas ever since Cover 2 was printed. I contend that using Time as an investment timing strategy is about equal to flipping a coin as opposed to being a strictly contrarian indicator. :)
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