Username or Email Address
Do you already have an account?
Forgot your password?
  • Log in or Sign up

    VWVortex


    Page 6 of 313 FirstFirst ... 23456789101656106 ... LastLast
    Results 126 to 150 of 7807

    Thread: Subprime Meltdown, the US Housing Market & the Direction of the US Economy in 2009 and 2010

    1. Senior Member beng's Avatar
      Join Date
      May 13th, 2002
      Location
      NutVegas, NJ
      Posts
      30,223
      Vehicles
      Family Truckster
      01-14-2008 12:44 PM #126
      Citi... there is speculation that they will announce during their earnings call tomorrow an additional $24 billion in writedowns and about 20,000 layoffs.
      http://biz.yahoo.com/cnbc/080114/22639976.html
      1 3 4 5 7 8 8 9 10 15 16 23 32 37 42 44 49

      "I don't know half of you half as well as I should like; and I like less than half of you half as well as you deserve"

    2. Banned
      Join Date
      Nov 20th, 2004
      Posts
      4,258
      01-14-2008 02:08 PM #127
      Quote, originally posted by beng »
      Citi... there is speculation that they will announce during their earnings call tomorrow an additional $24 billion in writedowns and about 20,000 layoffs.
      http://biz.yahoo.com/cnbc/080114/22639976.html


      They can burn down tomorrow for all I care.
      I feel bad for those who have families to support but losing job from Citi.

    3. 01-14-2008 02:30 PM #128
      What's the total of all write-downs so far?
      "None of you understand. I'm not locked up in here with you. You're locked up in here with me."

    4. Senior Member beng's Avatar
      Join Date
      May 13th, 2002
      Location
      NutVegas, NJ
      Posts
      30,223
      Vehicles
      Family Truckster
      01-14-2008 02:41 PM #129
      In aggregate or for Citi?
      1 3 4 5 7 8 8 9 10 15 16 23 32 37 42 44 49

      "I don't know half of you half as well as I should like; and I like less than half of you half as well as you deserve"

    5. Member
      Join Date
      Feb 7th, 2000
      Location
      Chicago
      Posts
      3,257
      01-14-2008 03:40 PM #130
      Quote, originally posted by adoniram7 »
      What's the total of all write-downs so far?

      In aggregate, about $82B. There another $24B expected from Citi tomorrow.

    6. Member OldOyster's Avatar
      Join Date
      Nov 20th, 2006
      Location
      New York, NY
      Posts
      1,133
      Vehicles
      Yellow Cab
      01-14-2008 04:18 PM #131
      Quote, originally posted by marzen »
      you can preach all you want about alternate safe investments. I will stick to my golds!
      And I am not complaining!
      http://money.cnn.com/2008/01/1...11111
      I guess we should agree to disagree and move on! [IMG]http://**********************/smile/emthup.gif[/IMG]

      Modified by marzen at 5:44 PM 1-11-2008

      I allerted everyone to this many months ago, and numerous people argued against my recommendation.

    7. Member
      Join Date
      Jul 25th, 1999
      Location
      Beer City, USA
      Posts
      1,255
      01-15-2008 01:23 AM #132
      Quote, originally posted by OldOyster »
      I allerted everyone to this many months ago, and numerous people argued against my recommendation.

      Wrong gold... should have bought into Randgold (GOLD) and you would have doubled your money in the same time frame.

    8. 01-15-2008 07:29 AM #133
      Hmmm i thaught this was funny
      Indeed, CountryFried Financial sure makes home loans finger lickin' good!
      Unfortunately, the grease and cholesterol are killers, and if you "eat too much", it's likely to impair your health ... permanently.
      Want to support CountryFried Financial? Well look no further! Via AnarchyWARE, we are offering two CountryFried Financial, "finger lickin' good" t-shirts!

      http://www.goodstorm.com/item/...sides

    9. 01-15-2008 08:16 AM #134
      Quote, originally posted by pops »
      In aggregate, about $82B. There another $24B expected from Citi tomorrow.

      So, we're just about at the Time Warner write-down of 99 billion in 2002, adjusting for inflation
      ithat was probably close to $115 billion.
      Savings and Loans crisis:
      http://en.wikipedia.org/wiki/S...risis
      $160 billion in the early 1990s. Adjusting for inflation, that's almost $220 billion.



      Modified by adoniram7 at 8:19 AM 1-15-2008
      "None of you understand. I'm not locked up in here with you. You're locked up in here with me."

    10. Banned
      Join Date
      Nov 20th, 2004
      Posts
      4,258
      01-15-2008 01:16 PM #135
      Another correction day today. someone said 12.5k was the floor? it wont be much of a support when the market see more bad news that are due.

    11. 01-15-2008 01:32 PM #136
      Quote, originally posted by marzen »
      Another correction day today. someone said 12.5k was the floor? it wont be much of a support when the market see more bad news that are due.

      It is not a science, but it is not the free-fall market failure you seem to be hoping for. The next two weeks will determine alot of the next few years. Two more major banks are reporting tomorrow and predictions are rough. That said, the market has generally been down knowing the predictions will be ugly, so who knows.
      Like they say, beat the predictions by a dollar and you are a hero, under by a dollar and shoot yourself.

    12. Senior Member beng's Avatar
      Join Date
      May 13th, 2002
      Location
      NutVegas, NJ
      Posts
      30,223
      Vehicles
      Family Truckster
      01-15-2008 01:54 PM #137
      By the way, I think $82 bil in aggregate is conservative. That figure is just the bulge bracket banks no? Plenty of other institutions have been writing down their portfolios... it just doenst make as many headlines if it's less than a few billion.
      The retail data is the really eye opening news released today. That had to make Bernanke pretty nervous. The US consumer is starting to strain. Look for GDP to be pretty weak in coming quarters.
      1 3 4 5 7 8 8 9 10 15 16 23 32 37 42 44 49

      "I don't know half of you half as well as I should like; and I like less than half of you half as well as you deserve"

    13. Member
      Join Date
      Sep 3rd, 2000
      Location
      California
      Posts
      2,674
      Vehicles
      318is, Scrambler, Dajiban
      01-15-2008 02:10 PM #138
      Quote, originally posted by LA Times »
      Home sales, prices are down sharply
      Los Angeles Times Staff Writer
      10:20 AM PST, January 15, 2008
      Sales and prices of houses and condominiums in Southern California plummeted in December, a real estate information service reported today.
      The median price in December was $425,000, down 16% from the market peak of $505,000 set last year, according to La Jolla-based DataQuick Information Systems.
      The number of homes sold in December was down 45% from a year ago -- to a level that DataQuick called "by far the lowest" since the firm began its data analysis in 1988.
      The total of 13,240 new and resale houses and condos sold in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties was 24% below the previous record-low December sales count in 1990.
      "It looks like anybody who can is waiting this thing out," DataQuick President Marshall Prentice said.

      Still going...

    14. 01-15-2008 02:20 PM #139
      Quote, originally posted by Mister MK4 »
      Still going...

      Yes it is. For those people who have been conservative with their money in future looks bright for thsoe of us who want to buy a home. I'm seeing homes that sold for over $700k less than two years ago in the low to mid $500k range.

    15. 01-15-2008 08:51 PM #140
      I saw a house for sale in claremont today, from the outside it looked kinda shaby but the inside was nice, 5 bedroom 2 bath 2,200 sqft
      10,000 sqft lot in upper claremont in a really nice area, 559,000
      man thats a big drop from what that house would have been going for a year ago.

    16. 01-16-2008 11:02 AM #141
      I've read a lot of ideas about how to turn the housing market around, but one thing I have not seen mentioned is a national moratorium on the contruction of new homes.
      If the supply is cut, the demand for the existing homes will increase, which will reenergize the economy. I understand that businesses that build new homes will be losing big, but if their efforts are redirected to rehabbing old homes everyones happy.
      In Frederick, MD they just lifted the building moratorium that was put in place a few years ago because of a water shortage and road/school infrastructure. The last time I checked schools are still crowded, there is still constant traffic and we had a county wide water ban this summer.
      The only benefit I can see is the new tax money and permit money, however if homes are being rehabbed the permit money and tax revenue is there.

    17. 01-16-2008 11:11 AM #142
      Quote, originally posted by big bentley »
      I've read a lot of ideas about how to turn the housing market around, but one thing I have not seen mentioned is a national moratorium on the contruction of new homes.
      If the supply is cut, the demand for the existing homes will increase, which will reenergize the economy. I understand that businesses that build new homes will be losing big, but if their efforts are redirected to rehabbing old homes everyones happy.
      In Frederick, MD they just lifted the building moratorium that was put in place a few years ago because of a water shortage and road/school infrastructure. The last time I checked schools are still crowded, there is still constant traffic and we had a county wide water ban this summer.
      The only benefit I can see is the new tax money and permit money, however if homes are being rehabbed the permit money and tax revenue is there.

      A nationwide ban on housing would be a severe overreaction. Would it fix some things? Sure, but it would make alot of other problems appear. The housing sector employs a huge number of people both directly and indirectly. Not only that but alot of local governments depend on the the revenues generated by it.

    18. 01-16-2008 11:31 AM #143
      Would it the problems it creates be offsetted by the positives it creates such as more public land, more areas for agriculture, maybe even more trees which might make a small dent in our greenhouse emissions problem. Not much of a dent but everything helps.

    19. 01-16-2008 11:35 AM #144
      Quote, originally posted by big bentley »
      Would it the problems it creates be offsetted by the positives it creates such as more public land, more areas for agriculture, maybe even more trees which might make a small dent in our greenhouse emissions problem. Not much of a dent but everything helps.

      Of the new build projects I've seen in AZ the city typically requires the builder to set aside "x" amount for parks, plant "x" amount of new and old trees. The cities and builders do seem to have an eye on some of those items you mentioned.

    20. Senior Member jnm2.0t's Avatar
      Join Date
      Oct 2nd, 2005
      Location
      Sunnyvale CA
      Posts
      20,421
      Vehicles
      List your car(s) owned here
      01-16-2008 11:39 AM #145
      Quote, originally posted by big bentley »
      Would it the problems it creates be offsetted by the positives it creates such as more public land, more areas for agriculture, maybe even more trees which might make a small dent in our greenhouse emissions problem. Not much of a dent but everything helps.

      the government isn't going to be worried about public land and trees when it comes to staving off a possible econimic downturn.
      I'm just a regular Joe, with a regular job. I'm your average white, suburbanite slob.

      Quote Originally Posted by Rabbit5GTI
      You have cornered the entire 'I hate Ford Fusions' market around here
      Quote Originally Posted by Turbio!
      Pure electric vehicles will never fully replace fueled (pure ICE or PHEV) vehicles.

    21. 01-16-2008 11:40 AM #146
      Several years ago the city of Frederick, required a builder to "donate" 7 million to the county schools by building a new wing on the high school in the district that is was building in. This idea seemed fine and dandy until you consider that the mandatory donation is then being tacked onto the home prices.
      All of the parents of students in the proposed building site were up in arms about it, without considering that their neighborhood was only 3 years old and they overcrowded all the schools in the county until the school board built a new highschool and elementary school.

    22. 01-16-2008 11:42 AM #147
      Quote, originally posted by jnm1point8t »
      the government isn't going to be worried about public land and trees when it comes to staving off a possible econimic downturn.

      Although they could create farms to grow items to be used for biofuel, hell even create a new industrial area to bring manufacturing back into America.

    23. 01-16-2008 11:56 AM #148
      Quote, originally posted by big bentley »
      Several years ago the city of Frederick, required a builder to "donate" 7 million to the county schools by building a new wing on the high school in the district that is was building in. This idea seemed fine and dandy until you consider that the mandatory donation is then being tacked onto the home prices.
      All of the parents of students in the proposed building site were up in arms about it, without considering that their neighborhood was only 3 years old and they overcrowded all the schools in the county until the school board built a new highschool and elementary school.

      In CA they have Mello Roos. basically it is an extra tax for a certain amount of time that is used to pay for building new schools, side walks, streets etc.

    24. Senior Member jnm2.0t's Avatar
      Join Date
      Oct 2nd, 2005
      Location
      Sunnyvale CA
      Posts
      20,421
      Vehicles
      List your car(s) owned here
      01-16-2008 12:03 PM #149
      Quote, originally posted by big bentley »
      Although they could create farms to grow items to be used for biofuel, hell even create a new industrial area to bring manufacturing back into America.

      i dont see how not letting people build in suburbia will lead to farms... and even if somehow it did that is a long term solution to an immediate problem. same goes for factories... long term solution. the economy isn't in a position to handle that right now.
      I'm just a regular Joe, with a regular job. I'm your average white, suburbanite slob.

      Quote Originally Posted by Rabbit5GTI
      You have cornered the entire 'I hate Ford Fusions' market around here
      Quote Originally Posted by Turbio!
      Pure electric vehicles will never fully replace fueled (pure ICE or PHEV) vehicles.

    25. 01-16-2008 12:15 PM #150
      Isnt suburbia sprawling in most cities or am I mistaken?

    Page 6 of 313 FirstFirst ... 23456789101656106 ... LastLast

    Posting Permissions

    • You may not post new threads
    • You may not post replies
    • You may not post attachments
    • You may not edit your posts
    •