Seattle Bubble Forum Archive
Archived forums. Find the live forum at SeattleBubble.com/blog/forum/
NOTE - This page is a static archive. Visit the current Seattle Bubble forums at SeattleBubble.com/blog/forum/
Top markets for a downturn (according to the CME trading)
Moderators: synthetik, The Tim, Lake Hills Renter
16 posts
• Page 1 of 2 • 1, 2
Top markets for a downturn (according to the CME trading)
by MrRational » Wed Oct 03, 2007 8:50 pm
- MrRational
- Bubble Watcher
- Posts: 48
- Joined: Wed Sep 19, 2007 12:44 pm
by MrRational » Thu Oct 04, 2007 5:32 am
- MrRational
- Bubble Watcher
- Posts: 48
- Joined: Wed Sep 19, 2007 12:44 pm
Re: Top markets for a downturn (according to the CME trading
by george » Thu Oct 04, 2007 6:01 am
- george
- Bubble Blatherer
- Posts: 111
- Joined: Tue Apr 17, 2007 6:03 am
by rose-colored-coolaid » Thu Oct 04, 2007 11:24 am
- rose-colored-coolaid
- Bubble Banter Boss
- Posts: 1978
- Joined: Mon Jun 18, 2007 10:26 am
by moosejaw » Thu Oct 04, 2007 1:10 pm
Whats amazing is with the prognostic abilities of so many on this site, that they could not predict the huge upswing in the market starting in 2000-2001. You guys should all be multi-millionaires by now.
I am certainly not saying that Seattle or other markets are not overpriced, but I think a prediction of 40-50% decrease is ridiculous.
If that's the case, EVERYONE who purchase in the last 5 years would be WALKING on their house, and returning the keys. So whats the next prediction when that happens?
A 100% decrease in the next 7 years? So banks will be giving away homes?
What amazes me is how many people actually have a TON of money in Seattle. That's not to say there are not people just scraping by, but it is amazing how much some young people have to spend, and how many high paying jobs Seattle continues to create and has to offer.
I predict a 100% decrease in the value of homes...Let me know where the line is when banks start giving away homes for free. With what I pay now I will gladly wait for that 50+% decrease and I will purchase 2-3 homes that now sell for 600k. Bring it on.
I am certainly not saying that Seattle or other markets are not overpriced, but I think a prediction of 40-50% decrease is ridiculous.
If that's the case, EVERYONE who purchase in the last 5 years would be WALKING on their house, and returning the keys. So whats the next prediction when that happens?
A 100% decrease in the next 7 years? So banks will be giving away homes?
What amazes me is how many people actually have a TON of money in Seattle. That's not to say there are not people just scraping by, but it is amazing how much some young people have to spend, and how many high paying jobs Seattle continues to create and has to offer.
I predict a 100% decrease in the value of homes...Let me know where the line is when banks start giving away homes for free. With what I pay now I will gladly wait for that 50+% decrease and I will purchase 2-3 homes that now sell for 600k. Bring it on.
- moosejaw
- Bubble Watcher
- Posts: 6
- Joined: Fri Sep 28, 2007 3:07 pm
by rose-colored-coolaid » Thu Oct 04, 2007 2:06 pm
- rose-colored-coolaid
- Bubble Banter Boss
- Posts: 1978
- Joined: Mon Jun 18, 2007 10:26 am
by SunTzu » Thu Oct 04, 2007 2:28 pm
[quote="moosejaw"]Whats amazing is with the prognostic abilities of so many on this site, that they could not predict the huge upswing in the market starting in 2000-2001. You guys should all be multi-millionaires by now.[/quote]
I could tell you that when interest rates hit 1% I thought it would be a good time to buy a house. Except at that time I already owned a condo and at that time I did not know you could get some of the crazy loans that caused this bubble. Because when I bought that condo in late '90s the bank required you to put money down, checked your income, verified your credit, verified your savings, and even then you were not guranteed to get a loan approval; that was the way it had always worked.
Moreover, the 1% rate was in the aftermath of 911 which no one was very sure what was going to happen next, not even the gov't.
I could tell you that when interest rates hit 1% I thought it would be a good time to buy a house. Except at that time I already owned a condo and at that time I did not know you could get some of the crazy loans that caused this bubble. Because when I bought that condo in late '90s the bank required you to put money down, checked your income, verified your credit, verified your savings, and even then you were not guranteed to get a loan approval; that was the way it had always worked.
Moreover, the 1% rate was in the aftermath of 911 which no one was very sure what was going to happen next, not even the gov't.
- SunTzu
- Bubble Blatherer
- Posts: 53
- Joined: Tue Jul 03, 2007 11:52 am
by perfectfire » Thu Oct 04, 2007 5:01 pm
- perfectfire
- Bubble Banter Boss
- Posts: 540
- Joined: Sun May 20, 2007 11:40 pm
- Location: Bellevue
16 posts
• Page 1 of 2 • 1, 2
Who is online
Users browsing this forum: No registered users and 37 guests