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U.S. October New-Home Sales Fall 3.2% to a 1.004 Million Pace
- Thread starter S2007S
- Start date
Quote from Pa(b)st Prime:
It's a valid point in that scenario as well.
By nature I'm a bearish guy. On everything. But as I mature I'm beginnig to see a trend toward the Brazilianation of the developed West. Haves vs. have nots. You either own property, equity and commodities or you're living with Perdro and his 12 cousins in some dive that'll soon cost a thousand a month in Shantytown. Wage slaves without investment are going to be fucked. You'd might as well BE Pedro if making 12, 15 or even 20 depreciating bucks an hour is your gig. When there's 400 million people in this country and a quarter of them are impoverished blacks, Latino's, Slavs and small town "meth-America" scratching at your doors you'll only WISH you were living in one of those bubblesque homes. Want my honest opinion. In 20 years one of those ridiculously overpriced 1.7mil 1900 sq ft beach cottages built in 1931 in LaJolla or Solana or Laguna will be 4 million.
Too many people with cheap money chasing too little insolation. Everything's going bid except labor.
right on 100% seems destined to happen
Quote from Pa(b)st Prime:
It's a valid point in that scenario as well.
By nature I'm a bearish guy. On everything. But as I mature I'm beginnig to see a trend toward the Brazilianation of the developed West. Haves vs. have nots. You either own property, equity and commodities or you're living with Perdro and his 12 cousins in some dive that'll soon cost a thousand a month in Shantytown. Wage slaves without investment are going to be fucked. You'd might as well BE Pedro if making 12, 15 or even 20 depreciating bucks an hour is your gig. When there's 400 million people in this country and a quarter of them are impoverished blacks, Latino's, Slavs and small town "meth-America" scratching at your doors you'll only WISH you were living in one of those bubblesque homes. Want my honest opinion. In 20 years one of those ridiculously overpriced 1.7mil 1900 sq ft beach cottages built in 1931 in LaJolla or Solana or Laguna will be 4 million.
Too many people with cheap money chasing too little insolation. Everything's going bid except labor.
I use Mexico as an example but Brazil more sense. Because once the paper pushing insatiable pigs cross a certain line trying to enslave the masses financially, the gangs will rise. Brazil's gangs have more soldiers than the army. And there are a lot of people with guns in this country, big powerful guns. Watch gun contol.
The real estate isn't going down to zero, somewhere there is the intrinsic value. However the money supply keeps on trucking up and up. In nominal USD terms, it has to go up. 90% only think in nominal terms, like the starter of this thread (and every other housing doom & gloom thread).
However, the picture you posted, those high rises are worth sh*t. In 5 years, that area will be ocean. Already happening along the coast.