Housing Crisis Will End on June 30, 2009
So says James Cramer in New York magazine this week. Prepare to break out your wallets on that date, because housing prices, he says, will bottom and it will be “the best opportunity to buy since the 19891991 real-estate crash.” He gives 10 reasons why, including the eventually evening out of supply and demand; the…
So says James Cramer in New York magazine this week. Prepare to break out your wallets on that date, because housing prices, he says, will bottom and it will be “the best opportunity to buy since the 19891991 real-estate crash.” He gives 10 reasons why, including the eventually evening out of supply and demand; the $300 billion mortgage relief legislation, turning high-interest mortgages into more modest, 30-year versions; prices lowering so much in some areas that buyers won’t be able to resist; and the slow bottoming out of New York City. Immigration and population growth will play a part too, he says, and it looks to him like we hit bottom this summer and are starting on the slow road to recovery. Well, not that slow, apparently. Who out there agrees?
End of the Housing Market Free Fall [NY Magazine]
Photo by jkeys.
There ought to be some classic “What” lines coming out of this post. Do your thing, man!
What,
I work near ground zero and could hear the bagpipes from my office yesterday. I noticed and appreciated your 9-11 post. I gave it a moment of silence but didn’t see the need to add anything.
I remembered not only those that fell, and those they left behind, but the way the City pulled together in the aftermath. The communal spirit was tremendous. Unfortunately, since I had Brownstoner open, your post also caused me to realize how far removed from that spirit some of the debate on this site can be. I thought better of saying anything about that yesterday out of respect for the day.
and Producer Prices fell 0.9%, more than forecast.
The next Fed move will be a rate cut.
http://stats.bls.gov/news.release/ppi.nr0.htm
Crude goods declined 11.9% in August!
This may very well be a deflationary scenario.
11. FDIC
What…5 of those items are now behind us…Bear Stearns, Fannie Mae, Freddie Mac, Bank of America (dividend intact with a 7.90% yield) and Countrywide (bought by B of A)… and the sixth, lehman will likely be sorted out today or Monday.
Brownstoner is a different story and will likely be the keystone to a global property implosion.
“I think this has some legs.”
I think you have some crack.
“Nothing on 911, What a joke….”
Yeah, and no oversized American flag flying all over the site. And perhaps a few pictures of our dear leader, Rudolph William Louis “Rudy” Giuliani. You know, the guy who’s all of a sudden all about the rural family values, while condemning the smarty-pants big city folk and their cross-dressing, divorcing and re-marrying, gay-tollerating ways. This is downright unpatriotical. In fact, I want to see everyone flying the flag or go to jail, your choice.
The What-
This blog disgusts you yet you post here at least 40-50 times a day. Says more about you than Brownstoner.
Think about tit…