Comments on: “What began as a housing slowdown in 2006 turned into crisis by the end of 2007″ http://njrereport.com/index.php/2008/04/27/what-began-as-a-housing-slowdown-in-2006-turned-into-crisis-by-the-end-of-2007/ Real Estate, Economics, and Politics Thu, 09 Feb 2012 21:35:09 +0000 hourly 1 http://wordpress.org/?v=3.0 By: Arr Elle http://njrereport.com/index.php/2008/04/27/what-began-as-a-housing-slowdown-in-2006-turned-into-crisis-by-the-end-of-2007/#comment-180272 Arr Elle Mon, 28 Apr 2008 13:59:10 +0000 http://njrereport.com/index.php/2008/04/27/what-began-as-a-housing-slowdown-in-2006-turned-into-crisis-by-the-end-of-2007/#comment-180272 “People have started to shift spending as if we were in a recession,” said Michael McNamara, vice president for research and analysis at MasterCard. Duh, I guess Mr. McNamara didn't get the "We ARE IN A RECESSION" memo???!!! “People have started to shift spending as if we were in a recession,” said Michael McNamara, vice president for research and analysis at MasterCard.

Duh, I guess Mr. McNamara didn’t get the “We ARE IN A RECESSION” memo???!!!

]]> By: jmacdaddio http://njrereport.com/index.php/2008/04/27/what-began-as-a-housing-slowdown-in-2006-turned-into-crisis-by-the-end-of-2007/#comment-180224 jmacdaddio Mon, 28 Apr 2008 03:55:08 +0000 http://njrereport.com/index.php/2008/04/27/what-began-as-a-housing-slowdown-in-2006-turned-into-crisis-by-the-end-of-2007/#comment-180224 This is one of the funniest pieces I've come across in a while: http://www.washingtoncitypaper.com/display.php?id=34682 I saw it as a twisted take on Your Money Or Your Life. Why work for a living if you don't have to? Just drastically reduce your expenses and you're fine. This is one of the funniest pieces I’ve come across in a while:

http://www.washingtoncitypaper.com/display.php?id=34682

I saw it as a twisted take on Your Money Or Your Life. Why work for a living if you don’t have to? Just drastically reduce your expenses and you’re fine.

]]> By: Sean http://njrereport.com/index.php/2008/04/27/what-began-as-a-housing-slowdown-in-2006-turned-into-crisis-by-the-end-of-2007/#comment-180223 Sean Mon, 28 Apr 2008 03:52:40 +0000 http://njrereport.com/index.php/2008/04/27/what-began-as-a-housing-slowdown-in-2006-turned-into-crisis-by-the-end-of-2007/#comment-180223 reinvestor101 - You espouse that you are really an "ardent supporter of America". You would not know what a patriot is.If you ever meet anyone like a real patriot you will then learn what "support" really is. You are the true coward who will not face a lie. You will only perpetuate it, and like a malignant gangrene lie you will eventually be cut off. reinvestor101 – You espouse that you are really an “ardent supporter of America”.

You would not know what a patriot is.If you ever meet anyone like a real patriot you will then learn what “support” really is. You are the true coward who will not face a lie. You will only perpetuate it, and like a malignant gangrene lie you will eventually be cut off.

]]> By: Seeking a new handle http://njrereport.com/index.php/2008/04/27/what-began-as-a-housing-slowdown-in-2006-turned-into-crisis-by-the-end-of-2007/#comment-180222 Seeking a new handle Mon, 28 Apr 2008 03:34:08 +0000 http://njrereport.com/index.php/2008/04/27/what-began-as-a-housing-slowdown-in-2006-turned-into-crisis-by-the-end-of-2007/#comment-180222 Whoops, forgot the link: http://www.newyorker.com/talk/financial/2008/04/21/080421ta_talk_surowiecki Whoops, forgot the link:

http://www.newyorker.com/talk/financial/2008/04/21/080421ta_talk_surowiecki

]]> By: Seeking a new handle http://njrereport.com/index.php/2008/04/27/what-began-as-a-housing-slowdown-in-2006-turned-into-crisis-by-the-end-of-2007/#comment-180221 Seeking a new handle Mon, 28 Apr 2008 03:33:51 +0000 http://njrereport.com/index.php/2008/04/27/what-began-as-a-housing-slowdown-in-2006-turned-into-crisis-by-the-end-of-2007/#comment-180221 What happens when China quits propping up our economy? And don't say, 'they won't' because of course it could happen. <i>The U.S., by contrast, remains the beneficiary of the world’s generosity—no matter how bad our financial situation looks, countries like China and Japan keep pouring hundreds of billions of dollars into U.S. securities. They’re doing this not out of kindness, of course, but because the U.S. is a colossal market and they need us to keep buying stuff. The world can’t afford to have the U.S. fail, and so we are able to get away with behavior that would wreck smaller countries. Great for us, but when we look at Iceland’s predicament we should say that there but for the grace of China go we.</i> What happens when China quits propping up our economy? And don’t say, ‘they won’t’ because of course it could happen.

The U.S., by contrast, remains the beneficiary of the world’s generosity—no matter how bad our financial situation looks, countries like China and Japan keep pouring hundreds of billions of dollars into U.S. securities. They’re doing this not out of kindness, of course, but because the U.S. is a colossal market and they need us to keep buying stuff. The world can’t afford to have the U.S. fail, and so we are able to get away with behavior that would wreck smaller countries. Great for us, but when we look at Iceland’s predicament we should say that there but for the grace of China go we.

]]> By: Pat http://njrereport.com/index.php/2008/04/27/what-began-as-a-housing-slowdown-in-2006-turned-into-crisis-by-the-end-of-2007/#comment-180220 Pat Mon, 28 Apr 2008 03:03:56 +0000 http://njrereport.com/index.php/2008/04/27/what-began-as-a-housing-slowdown-in-2006-turned-into-crisis-by-the-end-of-2007/#comment-180220 Why does everyone treat this jerk Otteau like old EF Hutton commerical? Because the one who sells advice based on interpreted data is the one who must be patrolled. Listening carefully is the only path to discovery. Any advice must be challenged and all results held to the highest professional standards. Some investors forgot this between 2002 and early 2007. Why does everyone treat this jerk Otteau like old EF Hutton commerical?

Because the one who sells advice based on interpreted data is the one who must be patrolled. Listening carefully is the only path to discovery.

Any advice must be challenged and all results held to the highest professional standards.

Some investors forgot this between 2002 and early 2007.

]]> By: jmacdaddio http://njrereport.com/index.php/2008/04/27/what-began-as-a-housing-slowdown-in-2006-turned-into-crisis-by-the-end-of-2007/#comment-180219 jmacdaddio Mon, 28 Apr 2008 02:54:04 +0000 http://njrereport.com/index.php/2008/04/27/what-began-as-a-housing-slowdown-in-2006-turned-into-crisis-by-the-end-of-2007/#comment-180219 My goodness! First I agree with Reinvestor on the sorry state of the Knicks, and now on the energy situation. Who knew? My goodness! First I agree with Reinvestor on the sorry state of the Knicks, and now on the energy situation. Who knew?

]]> By: kettle1 http://njrereport.com/index.php/2008/04/27/what-began-as-a-housing-slowdown-in-2006-turned-into-crisis-by-the-end-of-2007/#comment-180218 kettle1 Mon, 28 Apr 2008 02:47:02 +0000 http://njrereport.com/index.php/2008/04/27/what-began-as-a-housing-slowdown-in-2006-turned-into-crisis-by-the-end-of-2007/#comment-180218 HEADS UP i believe it was john who was considering going to the Mohonk Mountain reserve for a vacation. i just got this is an e-mail from the local trail association. Fire Closes Minnewaska SP; Some Trails at Mohonk Preserve Also Closed Alert to Hikers A fire that burned more than 3000 acres in Minnewaska State Park Preserve this week has resulted in the park's closure, including Sam's Point, and is likely to last at least through Saturday, April 26, if not longer. HEADS UP

i believe it was john who was considering going to the Mohonk Mountain reserve for a vacation. i just got this is an e-mail from the local trail association.

Fire Closes Minnewaska SP; Some Trails at Mohonk Preserve Also Closed

Alert to Hikers

A fire that burned more than 3000 acres in Minnewaska State Park Preserve this week has resulted in the park’s closure, including Sam’s Point, and is likely to last at least through Saturday, April 26, if not longer.

]]> By: kettle1 http://njrereport.com/index.php/2008/04/27/what-began-as-a-housing-slowdown-in-2006-turned-into-crisis-by-the-end-of-2007/#comment-180217 kettle1 Mon, 28 Apr 2008 02:45:42 +0000 http://njrereport.com/index.php/2008/04/27/what-began-as-a-housing-slowdown-in-2006-turned-into-crisis-by-the-end-of-2007/#comment-180217 re101, you make me feel all warm and fuzzy inside :) re101,

you make me feel all warm and fuzzy inside :)

]]> By: reinvestor101 http://njrereport.com/index.php/2008/04/27/what-began-as-a-housing-slowdown-in-2006-turned-into-crisis-by-the-end-of-2007/#comment-180216 reinvestor101 Mon, 28 Apr 2008 02:42:04 +0000 http://njrereport.com/index.php/2008/04/27/what-began-as-a-housing-slowdown-in-2006-turned-into-crisis-by-the-end-of-2007/#comment-180216 Really? A prominent housing terrorist like you agreeing with a ardent supporter of America like me? Let me tell you something, Kettle. A damn blue moon must have just rose, because it's damn near next to impossible for me to agree with you or anyone else here. As a matter of fact, I don't even like to agree with anyone here. I will never give in to the dark side. <i>kettle1 Says: April 27th, 2008 at 10:17 pm wow Re101, i actually agree with you! </i> Really? A prominent housing terrorist like you agreeing with a ardent supporter of America like me?

Let me tell you something, Kettle. A damn blue moon must have just rose, because it’s damn near next to impossible for me to agree with you or anyone else here. As a matter of fact, I don’t even like to agree with anyone here. I will never give in to the dark side.

kettle1 Says:
April 27th, 2008 at 10:17 pm
wow Re101,

i actually agree with you!

]]> By: kettle1 http://njrereport.com/index.php/2008/04/27/what-began-as-a-housing-slowdown-in-2006-turned-into-crisis-by-the-end-of-2007/#comment-180215 kettle1 Mon, 28 Apr 2008 02:17:28 +0000 http://njrereport.com/index.php/2008/04/27/what-began-as-a-housing-slowdown-in-2006-turned-into-crisis-by-the-end-of-2007/#comment-180215 wow Re101, i actually agree with you! wow Re101,

i actually agree with you!

]]> By: reinvestor101 http://njrereport.com/index.php/2008/04/27/what-began-as-a-housing-slowdown-in-2006-turned-into-crisis-by-the-end-of-2007/#comment-180214 reinvestor101 Mon, 28 Apr 2008 02:13:56 +0000 http://njrereport.com/index.php/2008/04/27/what-began-as-a-housing-slowdown-in-2006-turned-into-crisis-by-the-end-of-2007/#comment-180214 Why does everyone treat this jerk Otteau like old EF Hutton commerical (i.e. when EF Hutton talks everyone stops and listens). He's wrong on the reasons why people will migrate from the suburbs into the city. The main driver for that migration will be fuel prices. The houses in cities were built very close together to maximize the number that could be built because transporation systems weren't as extensive at that time. As transportation becomes more expensive, people will opt to live in places where driving can be minimal. Cities are ideal for this as everything that one might want is in close proximity. Investing in real estate in urban areas as well as investments in businesses that provide convenience by proximity looks very promising. </i>SG Says: April 27th, 2008 at 10:50 am Restructuring in housing predicted for the future ATLANTIC CITY — There will be a dramatic restructuring of housing demand in the future. “It will be a reversal of the pattern when housing moved farther and farther way from cities to outer areas,” said Jeffrey G. Otteau, of the Otteau Valuation Group Inc. “Baby boomers miscalculated. They did not plan well for retirement. They’ll see their income falling. They’ll be trading out and trading down on a scale like you never saw before,” Otteau said. Generation Y has little or no interest in suburban locations like their parents. They want a downtown which simulates a college campus lifestyle, Otteau said. Generation Y has had more opportunity to travel and experience the kind of lifestyles their parents did not have at their age, Tamar said. The housing shift in the future will bring a more European-type market, where first time buyers are closer to 40 years old, Otteau said. “It will be a luxury rental component for Generation Y buyers. This is a me-oriented generation, very selfish. They’ll pay up to $3,000 a month for rent rather than spend $4,000 a month for a mortgage. They prefer to eat out then cook.</i> Why does everyone treat this jerk Otteau like old EF Hutton commerical (i.e. when EF Hutton talks everyone stops and listens). He’s wrong on the reasons why people will migrate from the suburbs into the city.

The main driver for that migration will be fuel prices. The houses in cities were built very close together to maximize the number that could be built because transporation systems weren’t as extensive at that time. As transportation becomes more expensive, people will opt to live in places where driving can be minimal. Cities are ideal for this as everything that one might want is in close proximity.

Investing in real estate in urban areas as well as investments in businesses that provide convenience by proximity looks very promising.

SG Says:
April 27th, 2008 at 10:50 am

Restructuring in housing predicted for the future

ATLANTIC CITY — There will be a dramatic restructuring of housing demand in the future. “It will be a reversal of the pattern when housing moved farther and farther way from cities to outer areas,” said Jeffrey G. Otteau, of the Otteau Valuation Group Inc.

“Baby boomers miscalculated. They did not plan well for retirement. They’ll see their income falling. They’ll be trading out and trading down on a scale like you never saw before,” Otteau said.

Generation Y has little or no interest in suburban locations like their parents. They want a downtown which simulates a college campus lifestyle, Otteau said.

Generation Y has had more opportunity to travel and experience the kind of lifestyles their parents did not have at their age, Tamar said. The housing shift in the future will bring a more European-type market, where first time buyers are closer to 40 years old, Otteau said. “It will be a luxury rental component for Generation Y buyers. This is a me-oriented generation, very selfish. They’ll pay up to $3,000 a month for rent rather than spend $4,000 a month for a mortgage. They prefer to eat out then cook.

]]> By: kettle1 http://njrereport.com/index.php/2008/04/27/what-began-as-a-housing-slowdown-in-2006-turned-into-crisis-by-the-end-of-2007/#comment-180213 kettle1 Mon, 28 Apr 2008 01:57:15 +0000 http://njrereport.com/index.php/2008/04/27/what-began-as-a-housing-slowdown-in-2006-turned-into-crisis-by-the-end-of-2007/#comment-180213 Bi PEX is a type of plastic tubing that has become popular for use in indoor plumbing in place of traditional metal pipes or PVC. It would have little salvage value though so would be of little interest to someone raiding your home for salvage material Bi

PEX is a type of plastic tubing that has become popular for use in indoor plumbing in place of traditional metal pipes or PVC. It would have little salvage value though so would be of little interest to someone raiding your home for salvage material

]]> By: BC Bob http://njrereport.com/index.php/2008/04/27/what-began-as-a-housing-slowdown-in-2006-turned-into-crisis-by-the-end-of-2007/#comment-180212 BC Bob Mon, 28 Apr 2008 01:32:51 +0000 http://njrereport.com/index.php/2008/04/27/what-began-as-a-housing-slowdown-in-2006-turned-into-crisis-by-the-end-of-2007/#comment-180212 Dennis Gartman; Buy necessities, sell accessories. Not his calls, just thoughts; Buy Target, sell Coach. Buy Wal Mart, sell Abrecomie. Buy Heinz, sell Haagen Daiz. Buy your kitchen/bathroom, sell your boat/winnebago. All Disclaimers. Dennis Gartman;

Buy necessities, sell accessories.

Not his calls, just thoughts;

Buy Target, sell Coach.
Buy Wal Mart, sell Abrecomie.
Buy Heinz, sell Haagen Daiz.

Buy your kitchen/bathroom, sell your boat/winnebago.

All Disclaimers.

]]> By: BC Bob http://njrereport.com/index.php/2008/04/27/what-began-as-a-housing-slowdown-in-2006-turned-into-crisis-by-the-end-of-2007/#comment-180211 BC Bob Mon, 28 Apr 2008 01:20:32 +0000 http://njrereport.com/index.php/2008/04/27/what-began-as-a-housing-slowdown-in-2006-turned-into-crisis-by-the-end-of-2007/#comment-180211 years years

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