Ok, i believe we are heading toward hyperinflation and I know some of you dont believe it. Its funny that this is getting talked about as much as housing was in early 2005.
http://www.elitetrader.com/vb/showthread.php?s=&threadid=43224&perpage=6&highlight=housing rolling&pagenumber=1
I mean the conversations are almost exactly the same. People saying things like houses are an asset and they wont drop in value because people "have to have a place to live" and things like that. Here is a quote from SteveD back in 2005.
"Most owner-occupied homes are sold for reasons such as: job loss, divorce, job transfer or desire to "move up". NOT because of some drop in "value".
Think about it?? Nice home, two kids in neighborhood school, church nearby, neighbors, etc. You come one day and say "gee, honey" I heard the people down the street sold for $15,000 less than their asking price!!! Get the kids in the car, we're getting the hell out of here right now.
Doesn't happen that way, boys and girls. Sorry to be bad news to you housing bears.
Anyway...i just think that the difference bewteen housing & hyperinflation is the same thing....instead of talking about people spending more on housing than they can afford, we are talking about the government spending more on bailouts than the taxpayer can afford.
http://www.elitetrader.com/vb/showthread.php?s=&threadid=43224&perpage=6&highlight=housing rolling&pagenumber=1
I mean the conversations are almost exactly the same. People saying things like houses are an asset and they wont drop in value because people "have to have a place to live" and things like that. Here is a quote from SteveD back in 2005.
"Most owner-occupied homes are sold for reasons such as: job loss, divorce, job transfer or desire to "move up". NOT because of some drop in "value".
Think about it?? Nice home, two kids in neighborhood school, church nearby, neighbors, etc. You come one day and say "gee, honey" I heard the people down the street sold for $15,000 less than their asking price!!! Get the kids in the car, we're getting the hell out of here right now.
Doesn't happen that way, boys and girls. Sorry to be bad news to you housing bears.
Anyway...i just think that the difference bewteen housing & hyperinflation is the same thing....instead of talking about people spending more on housing than they can afford, we are talking about the government spending more on bailouts than the taxpayer can afford.
