patrick.net

Call it Crazy says

None should be bailed out (or received a "hand out").... If you have shitty management, poor business practices, have gotten to bloated or have financial mismanagement, the company should stand on it's own ability or be gone...

Why is that so hard for you to understand???

And I agree. Why is that so hard for you to understand?

mell says

Being in tech and business I am fortunate to actually get promotions or start my own ventures. Most people working less desirable or overcrowded sectors/areas never get anywhere close to keeping up with inflation, often they take pay-cuts over the years.

#1--that's not the case.
#2--Total earnings/wages beat inflation comfortably so the only reason peoples' wages aren't keeping up is that too much of it is ending up in the hands of the onwers.

Call it Crazy says

Ha Ha... Except your posting history here tells a different story...

Nope--your definition of liberal is much different than 20 years ago. I'm middle of the road--you are far right.

Finally, this problem is not going to get any better on its own. Millions of seniors are expected to need rental housing in the coming decade.

I.e., millions of seniors downsizing in the next decade, driving house prices down where they will continue to spiral until the last boomer dies.

WOW! The UNtrustworthy are certainly in control of what information is apparent to the people!

Say hey! This was in the Wall Street Journal on March 30, 1999. Note "... how much it will buy."

Holy cow/interesting/compelling ...!

And where is it up to date??? Right here ... see the first chart shown in this thread.
Recent Dow day is Tuesday, December 10, 2013 __ Level is 102.2

WOW! It is hideous that this is hidden! Is there any such "Homes, Inflation Adjusted"? Yes! This was in the New York Times on August 27, 2006:

And up to date (by me) is here:
http://patrick.net/?p=1219038&c=999083#comment-999083

WOW! The UNtrustworthy are certainly in control of what information is apparent to the people!

And http://patrick.net/?p=1230886

Homeboy says

That's a VERY high price to pay. NO executive or shareholder at GM should have made one red cent from that 10 billion dollars.

when the USG "invested" into GM they also become responsible for the employee contracts and vendor obligations. So if an executive gets $$$, so be it even if its from USG 'invested' money. Its called contract laws! If GM can just change its contracted obligations based on political pressure, who is to say they would back slide on their vendor and union contracts.

Call it Crazy says

Let's see.... First you're against bankruptcy because it causes unemployment....

Nope--I'm not. I'm just not naïve enough to think bankruptcy doesn't cause unemployment.

Call it Crazy says

You agree with this... but when businesses close, people lose jobs...

So, which is it... You can't have it both ways????

It's pretty simple. As a rule, businesses should go bankrupt when they are mismanaged. It will cause unemployment. Under unique circumstances, extenuating circumstances may dictate that it's better if a company is bailed out and allowed to stay in business. The world isn't black and white...

Call it Crazy says

U.S. exits GM stake in $10 billon loss for taxpayers

other options... Sell or Spinoff (IPO) SAAB, Opel, Holden, Vauxhall Motors and other division. The IPO proceeds would keep GM afloat...

thomaswong.1986 says

other options... Sell or Spinoff (IPO) SAAB, Opel, Holden, Vauxhall Motors and other division. The IPO proceeds would keep GM afloat...

Not sure what you're meaning here. SAAB was let go a few years ago and went bankrupt. GM had also cut Pontiac, Saturn, and Hummer as well.

edvard2 says

SAAB was let go a few years ago and went bankrupt

yes Saab was sold off to a dutch company in 2010 and BK ..
the othes are still part of GM.. foreign operations.

After all if you want to see all the overseas money to come back to the
US parent company ... this would be the way to do it.

reminds of ATT when they downsized and sold off, spun off their divisions
and other assets to raise capital... and somehow they are still around.

The same is happening in California. The new policies cover more "services" that no rational person would buy (e.g. diagnostic radiation even in situations where it does more harm than good), but fewer doctors and hospitals.

Many seniors do own homes, heck, they had decent salaries at one time, coming up through a pretty good industrial era in this country, most always having local work, not always having to move and such. Then, at least being able to afford taxes and upkeep when it's paid off, often though, they can't afford the upkeep, and can really only just pay the taxes.

New Renter says

Strategist says

So what's the solution?

More section 8 probably.

Oh God, is there any solution that does not cost anyone money?

Dan8267 says

Finally, this problem is not going to get any better on its own. Millions of seniors are expected to need rental housing in the coming decade.

I.e., millions of seniors downsizing in the next decade, driving house prices down where they will continue to spiral until the last boomer dies.

How can that be possible with a rising population?
1. Population is rising.
2. Dumps like Detroit are being abandoned.
3. Old homes have to be replaced.
People have to live somewhere, and they all want to live in the sunbelt.

Strategist says

Falling house prices will mean less construction of new homes, which means a shortage of homes, which means higher rents.

Houses were being built when they were much cheaper than today.
They were just slightly smaller and more basic.

Today builders all want to build "luxury" houses but they will have to adapt to reality and build houses people can afford.

As long as the demand is there, I'm not sure why some private company would not offer a solution.

Well they do have a lot of that Boardwalk money to pay back to Obama.

New Renter says

The real question is why do burger flippers bother to stay in SF.

Exactly.

There is a point where poor people need to draw the conclusions and move to union city.

It's not a human right to live in one of the most expensive place in the world.

And when burger joints in SF don't find anyone willing to work for them, they will also draw the conclusions and either pack too, or pay their employees better - raising prices if need be.

People just have to adapt.

Heraclitusstudent says

Strategist says

Falling house prices will mean less construction of new homes, which means a shortage of homes, which means higher rents.

Houses were being built when they were much cheaper than today.

They were just slightly smaller and more basic.

Today builders all want to build "luxury" houses but they will have to adapt to reality and build houses people can afford.

As long as the demand is there, I'm not sure why some private company would not offer a solution.

I here there is a huge demand for the million dollar homes. Toll Brothers, a luxury home builder now averages $675,000 per home.
Want to get rich? Buy the home builders, their stock prices are about to go through the roof.

Strategist says

I.e., millions of seniors downsizing in the next decade, driving house prices down where they will continue to spiral until the last boomer dies.

How can that be possible with a rising population?

1. Population is rising.

2. Dumps like Detroit are being abandoned.

3. Old homes have to be replaced.

People have to live somewhere, and they all want to live in the sunbelt.

If the next generation cannot afford the boomers houses, prices will go down - especially larger more expensive houses.
It is possible to build more cheaper units, apartments etc...

Strategist says

Want to get rich? Buy the home builders

They already ramped up.
And the one that will grow most are not the one making luxury homes.

Heraclitusstudent says

Strategist says

I.e., millions of seniors downsizing in the next decade, driving house prices down where they will continue to spiral until the last boomer dies.

How can that be possible with a rising population?

1. Population is rising.

2. Dumps like Detroit are being abandoned.

3. Old homes have to be replaced.

People have to live somewhere, and they all want to live in the sunbelt.

If the next generation cannot afford the boomers houses, prices will go down - especially larger more expensive houses.

It is possible to build more cheaper units, apartments etc...

That will be a decision for the home builders to make when the time comes. Their only goal is to maximize profits regardless of what they sell.
I personally believe our standard of living will keep getting better over the decades, and the average consumer will have a much higher purchasing power, benefiting real estate the most.

Strategist says

New Renter says

Strategist says

So what's the solution?

More section 8 probably.

Oh God, is there any solution that does not cost anyone money?

Yes:

He he he.
Those cave men paid no mortgage and yet no one foreclosed on them.
I think I'll take the hut, it looks like its on a beautiful island somewhere.

Strategist says

He he he.

Those cave men paid no mortgage and yet no one foreclosed on them.

I think I'll take the hut, it looks like its on a beautiful island somewhere.

Well caves CAN be a great way to live. The main problem is light and ventilation. I'm thinking ventilation shafts can double as light tunnels. Put in a few solar panels and or windmills for electrical power with a large water tower for energy storage and you've got yourself a nice little setup.

In the good old days (18th century England) being a hermit was a pretty good gig. Unfortunately like all good jobs demand has dried up.

http://www.theguardian.com/uk/2002/aug/20/arts.artsnews

Fourth-quarter earnings for 2013 were $94.9 million, or $0.54 per share diluted, compared to $411.4 million, or $2.35 per share, in fiscal year 2012.

This is when you buy.....when temporary bad news hits the stock.

New Renter says

Strategist says

He he he.

Those cave men paid no mortgage and yet no one foreclosed on them.

I think I'll take the hut, it looks like its on a beautiful island somewhere.

Well caves CAN be a great way to live. The main problem is light and ventilation. I'm thinking ventilation shafts can double as light tunnels. Put in a few solar panels and or windmills for electrical power with a large water tower for energy storage and you've got yourself a nice little setup.

In the good old days (18th century England) being a hermit was a pretty good gig. Unfortunately like all good jobs demand has dried up.

http://www.theguardian.com/uk/2002/aug/20/arts.artsnews

Nah! I don't like fixer uppers.
How about flipping it?

tatupu70 says

Actually, that is not at all what I'm saying. How in the world did you interpret my posts as what you wrote above?

Look, if someone does not a find job, there should be a way for that person to start a business on his/her own. That does not happen so easily due to enormous number of regulations. Fortunately, they are little less in the tech industry.

tatupu70 says

If you can find an island with great weather and enough available (free) land, (free) fruits and wild game, to support the current number of unemployed people, please point me in the right direction. I'd like to head there myself.

Well, you will still have to haul your own ass to get them. Or, do you need government assistance for that because of disability?

Danke Amerika...Roll out the Barrel...

Strategist says

Nah! I don't like fixer uppers.

How about flipping it?

Next on TLC - Flip This Cave!

bgamall4 says

Slab city. Is that at the Salton Sea?

Yes

bgamall4 says

You don't want to be there.

You are right about that, however it may have appeal to some as an alternative to Phoenix

boomers have to live some where. they aren't going to move out of their big houses and live in their cars.

prices for small homes will go up. rents will go up and drive prices for small homes to go up even more.

btw, they like warm weather so buy in CA, FL, and AZ.

Bellingham Bill says

http://www.zillow.com/homedetails/1700-W-Cliff-Dr-Santa-Cruz-CA-95060/95286785_zpid/

million-dollar lot, $500/yr property tax to keep it undeveloped

If you think they are $1M lots, you should be buying up Bodega Bay instead of complaining.

Over 50% investors in the LV market that eventually ran out of the greater fool to sell to?
Who could have seen this coming?

I wish it was true. I had made offers back in 2009 for Meridian condos, 1 block east of Ceasers Palace on Flamingo. 2 bedroom condos were $60,000 to 70,000, almost 90% off their peak prices. I did not buy as the banks ( all of them were foreclosures) refused to negotiate. A few months ago they were going for around $150,000. After getting all excited after reading this article, I went to Redfin to check what was available. I could not even find one condo for sale at this large complex.
That zero hedge web site has zero truth and zero credibility. It's for suckers.

Whatever happens, eliminate pre-existing coverage for all Rep/Con/Teas.They should not have gotten sick & when they did,they want Free Market insurance companies to cover them for cheap.Private insurance companies should be able to charge whatever they want & refuse coverage to any Rep/Con/Tea that has ever been sick.
This is America. Love it,or leave it.

You guys lost. Get over it.

edvard2 says

You guys lost. Get over it.

When we lose you lose?

Somebody has to work a grownass man's living wage, so the Liberals can tax them and manufacture Unicorn Farts and Pixie social fairy dust.

Consider us the wheels, when we stop turning, you'll have to get out and walk. And let me tell ya brother, it's a long way to the shop if you wanna sausage roll.

And in case you can't read Ducky's graph, Las Vegas inventory is down 10% (year-to-year) for November and sales are up 11%, according to Redfin.

Call it Crazy says

think the 800K people in NJ lost it... (their insurance, that is...), not "us guys"...

Ironic that it happened in a "blue" state......

still lost. too bad.and guess what? It will be the same tomorrow, the next day, and so on.

nope. You are incorrect. But it is correct that you guys lost the election, lost the healthcare debate, lost shutting down the government, and will keep on losing. So keep posting silly articles: Won't make a bit of difference except waste a bunch of time.