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blueskies
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blueskies

….step away from the through

CRASH JPMorgan-Chase
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CRASH JPMorgan-Chase
Prosper Australia Prosper calls for Buyers Strike http://www.prosper.org.au/2011/03/15/prosper-call… "DON'T BUY NOW"! Here is why Australia is a better country. It isn't overrun by stinking politically correct losers like Canada is Tax reform group Prosper Australia today called on first home buyers to delay buying real estate ahead of the flip into a falling market, which it described as ‘imminent’. RP Data reports there are over 900 Melbourne auctions scheduled for the weekend and 2700 over the next three weeks. Prosper believes this enough to decisively tip the market into oversupply. “When the Great Australian Land Bubble bursts – just as land bubbles all around the world have – the freshest buyers are totally exposed. They face financial ruin as house prices fall below their debt. The crippling mortgage repayments become pointless,” Prosper campaigner David Collyer said today. “The bursting of… Read more »
CRASH JPMorgan-Chase
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CRASH JPMorgan-Chase

Garth Turner Calls for Strike Support in Canada
http://www.greaterfool.ca/2011/03/27/strike/

CRASH JPMorgan-Chase
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CRASH JPMorgan-Chase

ATTENTION CANADIANS, SHOW US YOUR BEAVERS AND MOON THE MARKET.

STRIKE NOW OR FOREVER HOLD YOUR DICK IN YOUR HAND YOU WANKERS!

CRASH JPMorgan-Chase
Guest
CRASH JPMorgan-Chase

Ritzy Melbourne suburbs post big home price drops
http://www.smh.com.au/business/ritzy-melbourne-su

arbit
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arbit

@CRASH JPMorgan-Chase – Buy Silver:

You're preaching to the choir.

I'll go out on a limb and say the majority of the posters and readers here are already not buying – based on their own analysis of the numbers – not because of some strike call.

Everyone should look at their situation, run the numbers, and make a decision. Not get in on some fad because someone says so.

jesse
Member

Carney is advocating for rates to rise, but whose rates exactly?

On this topic, Carney stated that capital flows should be going towards emerging markets but instead the capital is continually recycled into low yielding securities in the developed world, who in turn aren't investing the capital wisely. Chinese FDI into Vancouver real estate, with its high high prices and low yields, is a microcosm of this.

Carney also hinted China may start revaluing its currency in coming quarters; their inflationary pressures are significant.

just saying
Guest
just saying

With oil price that high and so is the CAD, plus core inflation being so low, there is no room for any tightening of credit supply. forget rates increase.

patriotz
Member

Bond investors should beware the inflation mirage

Even if inflation is really in the reported 2-per-cent range, it’s not going to be that low for much longer…

I expect bond investors to wake up eventually, lick their wounds and then kick themselves for being so gullible as to believe the reported inflation statistics.

He means, of course, that we are headed for much higher interest rates.

CelicaMan
Guest
CelicaMan

I say Carney's starting to sound like the Central Banker who cried 'wolf'. He's been threatening for a while now, but when will he pull the trigger already? It means less every time he says this stuff but then fails to follow up.

DaMann
Member
DaMann

@patriotz:

We all know we are, but the questions is when? A year from now? or 5 years? I wish it would happen soon, but I don't see it happening.

registered
Member
registered
IMO all anyone really needs to know about government published CPI stats is that the overwhelming majority of 'improvements in accuracy' pushed the number lower. Theater is the right word. My guess is the worst thing that could happen to the real estate party is a Conservative majority. They know the jig is up and will bring the hammer down fast should they win – hence the veiled warnings and blaming voters for debt – then spend the next four years doing damage control. The Liberals are between a rock and a hard place. They must see what's happening south of the border. If they win and do what's right, they'll take the blame for the Harper's shit sandwich. If they win and try to keep the party going the inevitable gets pushed closer to the next election.
DaMann
Member
DaMann

@CelicaMan:

Exactly my thoughts as well. He ha been spouting off for a while now. Sh@t or get off the pot!

wreckonomics
Member

@CelicaMan: "I say Carney’s starting to sound like the Central Banker who cried ‘wolf’."

Remember how that story ended?

jesse
Member

@fixie guy: "the worst thing that could happen to the real estate party is a Conservative majority"

You heard him. Bears, vote Tory :mrgreen:

GR Guy
Guest
GR Guy
MO all anyone really needs to know about government published CPI stats is that the overwhelming majority of ‘improvements in accuracy’ pushed the number lower. Theater is the right word. My guess is the worst thing that could happen to the real estate party is a Conservative majority. They know the jig is up and will bring the hammer down fast should they win – hence the veiled warnings and blaming voters for debt – then spend the next four years doing damage control. The Liberals are between a rock and a hard place. They must see what’s happening south of the border. If they win and do what’s right, they’ll take the blame for the Harper’s shit sandwich. If they win and try to keep the party going the inevitable gets pushed closer to the next election. ____ I… Read more »
patriotz
Member

@GR Guy:

do not count on government policy to be the catalyst for a crash. The crash will happen on its own accord.

Well I can agree with that part. But anyone who thinks the Cons did not deliberately create this bubble is wearing blinkers. The Cons may not think it's a bubble – if you think house prices can't be too high no matter what you're not going to call it a bubble, but their policy was to deliberately inflate house prices and increase spending in the RE sector and Harper himself has bragged about that as "proof" of an economic recovery. Exactly as the Bush administration did.

registered
Member
registered

@16 GR Guy Says: "I love how you think that the federal political party platforms revolve around real estate…"

No more than Phillip Morris' revolves around spreading cancer.

Of course they're not intentionally 'fueling bubbles'. They're using real estate and consumer spending as part of an action plan to keep the GDP up and remain attractive to international investment. You might have noticed the same behaviour from many western nations losing their manufacturing base to the eastern juggernauts. It's a cheap, cynical bandaid over serious and systemic structural issues stemming from globalization, exactly what I'd expect of politicians more concerned with future elections than the future.

chip
Guest
chip

@patriotz:

"but their policy was to deliberately inflate house prices and increase spending in the RE sector and Harper himself has bragged about that as “proof” of an economic recovery. Exactly as the Bush administration did."

I'm no fan of Bush (or any politicians for that matter) but to blame him for the RE bubble is a reach. When Fannie and Freddie were gorging on sub-prime (they held or guaranteed more than half of such debt) at the behest of the Democrat House it was the White House that wanted to rein them in.

It was a flaccid effort to be sure but the WH wasn't steering this freight train.

Lister
Guest
Lister

Hey Best Place on Meth,

Do you want to take stab at today's sales numbers? Maybe your updater is recording another two dozen sales?

If so, then based on past precedent, those two dozen should be what 150 sales in reality. That seems to be the trend with the last two day's predictions.

Dare to venture a prediction today douchebag? Probably not – I notice you go silent when the actual numbers come out and you are dead wrong.

Hahahah

Listerine
Guest
Listerine

@Lister:

Unlike a deluded Realturd who has excessive amounts of time to spend behind the computer, BPoM is WORKING. Give it a try 'turdster.

Lister
Guest
Lister

Unlike a deluded Realturd who has excessive amounts of time to spend behind the computer, BPoM is WORKING. Give it a try ‘turdster.

____

Good one…

I see, so given your logic, when he posts he is not working…

So judging by the number of his posts, he doesn't work too much!

Nothing like defending a fellow anonymous poster's time for no particular reason eh?

registered
Member
registered
@19 chip: Freddie and Fannie didn't issue sub-prime, they absorbed mortgage backed securities rated solidly above their minimum requirements by agencies like Moody's, MBSs later found to be poisoned with hidden sub-prime and ninjas. To what extent F&F knew, or should of known, the risk I don't know. I agree with you though that blaming Bush alone leads to serious error. He and Clinton, plus other presidents before them, maintained a 'market fixes all' economic philosophy that slowly dismantled every financial industry safeguard put in place since the Depression. Bush's innovation of making the federal regulatory structure a revolving door for industry insiders (financial, environmental, and more) was just the last nail in the coffin. Off-loading lender risk to investors, coupled with a ratings agency structure in which the the client literally pays for the rating, made it an inevitability… Read more »
Best place on meth
Member
Best place on meth

@chip:

Bush did deliberately fuel a real estate bubble with his home ownership policy.

http://www.nytimes.com/2008/12/21/business/worldb

Oh danny boy, irish
Guest
Oh danny boy, irish
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