Category: Think Tank

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

4 Responses to “The Aftermath of the Housing Bubble”

  1. denim says:

    Still stuck on that bubble meme, I see. The family lost their house not because of any bubble, but because they lost adequate income to service their mortgage. If there was any “bubble” it was the destruction of too many jobs in the economy coupled with miserly wage and profit sharing increases.

  2. econimonium says:

    denim it’s only 7:50 on a Sunday morning and already you have my vote for the dumbest comment. If there was no bubble then why are house prices back to sub-2000 levels in most places? Why are the purchase numbers so low? Did all of these people who lost their houses, and now potential buyers as well, lose “adequate income to service their mortgages”? Are strategic defaults under that too? How about people like me? If I sold my house now vs in 2006 (here) how come I’ll get about 150k less? Is that because everyone just lost income or is it because prices didn’t match any fundamental known to man, and now the value of the property is back in line with those fundamentals, therefore indicating a bubble? (people paying too much for something en masse who’s intrinsic value was far less)

    Why do wages always have to go up? The economy clearly cyclically goes through job destruction as new industries are born and old ones die. Do you think that, if any manufacturing jobs came back “on shore” that machines wouldn’t now do the jobs that thousands of people used to do? China uses humans because they’re now cheaper and it’s government policy to keep them from unrest. The economic value of someone doing that kind of labor has, in the US, decreased so the wage (and even skill level) must decrease. Think about the skill level required now in grocery stores. Prices only have to be touched by humans as data entry. From stocking (which used to take a person who was quite sophisticated in the knowledge of the store) to the check out that doesn’t even need a human any more for each one, perhaps one for each 6 to the non-existent bag boys because you now do it, less people. Keep thinking about my example and if you do hard enough you’ll see what the problem is, and why people need MORE education not LESS. And the fact that this is complicated and not some Republican and/or Democrat conservative/liberal meme.

  3. Greg0658 says:

    the so called “bubble “was Bush2 low interest money to pull the Building Buildings Industries/Markets forward to give the illusion of good times & pay for the wars & give back the coffers of the Clinton1 BBI/M outsource’g America years .. but denim I agree if there were jobs and cash rotation balance that wouldn’t matter … green grass jobs here & yuky nimby jobs there

    watch closely now you’ll see a curious exchange of energy

  4. Nala says:

    denim’s comment might begin to make sense if the result of previous recessions (and loss of household income) had resulted in hosue prices falling by more than 50%, as in the case of a few major markets (Phoenix, Vegas, much of Florida). But no.