yes, and this was in incidental references in other stories. For instance, housing prices in Santa Fe are increasing because Californians consider it a bargain, however, all of those housing prices in CA and SF are mortgaged, and the real estate section recommends staying away from Santa Fe as the resale value is not there.
On 8/29/05, Gruss Gott <[EMAIL PROTECTED]> wrote: > > Dana wrote: > > actually I have seen a number of newspaper articles in the last > > several days expressing concern over the amount of consumer and > > mortgage debt out there. > > Well for us conservative folks, you hit it square. The theory is > this: the economy over the last few years has been propped up by > mortgage debt and cheap Asian goods. Those days may be over however: > > 1.) Upper bracket housing prices have stagnated this summer which > could spell the end of the housing ATM machine for consumers. > > 2.) China is floating its currency. > > 3.) Interest rates are bound to rise. (historically, but not yet. Weird.) > > 4.) All of the "good money" has been lent - it's the sub-prime and > riskier money that's left. > > The conservative read is that consumer spending will start to trickle > down and there won't be much to take it's place. > > Those mortgaged-out consumers will all of sudden realize they can't > re-fi anymore and will start feeling poor. At the same time prices > will begin to rise and, with low demand, businesses will feel the need > to hang on to cash. > > Just as that's really picking up steam the Medicare, Medicaid, and SS > debts will require a tax increase or a service decrease, squeezing > consumer ever more. > > And then there's the threat of a sudden dollar devaluation due to the > twin deficits. > > Or. Maybe Mr. Bush is right and deficit pork spending is the key to wealth > > ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Discover CFTicket - The leading ColdFusion Help Desk and Trouble Ticket application http://www.houseoffusion.com/banners/view.cfm?bannerid=48 Message: http://www.houseoffusion.com/lists.cfm/link=i:5:171461 Archives: http://www.houseoffusion.com/cf_lists/threads.cfm/5 Subscription: http://www.houseoffusion.com/lists.cfm/link=s:5 Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=11502.10531.5 Donations & Support: http://www.houseoffusion.com/tiny.cfm/54
