patrick.net
An Antidote to Corporate Media
1,250,588 comments by 14,915 users - AmericanKulak, Baloo, Blue, gabbar, goofus, HeadSet, mell online now
invite responseComments 1 - 1 of 1 Search these comments
MsBennet
2013 Apr 4, 3:13am
It really does seem like a RE bubble where I live, SFBA. I read an article in the SJ Mercury News where even the RE agents can't believe people are overbidding on crappy houses, paying all cash, lots of foreigners. This one particular sale was all cash, from a foreigner, who bought the mold-ridden house for their daughter, who paid more for this fixer upper than the same updated version of the house sold for three months ago.
Trouble is, there is a tremendous demand for housing here. They need to build more new homes, because there is so little for sale.
It seems that the Fed is good at kicking the can down the road. As long as the stock market keeps going up that will keep a lot of people happy, but it might be approaching a bubble too. If there ever is a tipping point crisis of some sort, I expect the market to free fall, but this time I will pull the "sell" button on at least a few accounts and not ride it all the way down.
Seems like the poorer are getting poorer though, as inflation is kicking in big time (but not the inflation that is counted officially, i.e., food and gasoline.)
I think the middle class is being shrunk. I think those who have, now have more. And those struggling are struggling more.
I haven't a clue how we can get out of this, so I plan to enjoy life while I can.
It looks like we have another real estate bubble brewing. For how long, I don't know.
The dollar is going up in relation to other currencies. I'm not sure how long this will last.
Gold is going down, presumably because the world is recovering, and again the dollar is strengthening.
The stock market is at all time highs, with high unemployment and what I consider a fundamentally flawed economy due to FED intervention.
So I ask all of you, what do you see happening in the future in these various sectors? I personally feel very lost as to what to expect, as governments seem to make up the rules as they go.
#housing