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Andy9o8 2
QuoteThe Libs ......
< eyes..glazing...over...>
Zzzzzzzzzzzz..........
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Point of order: That figure is deceiving. Holding a mortgage is not ownership. We should expect those numbers to drop as the interest rates rise and force more foreclosures.
You're just splitting hairs. Nationwide housing numbers (that are used to assess the relative strength of our economy) have always included homes with liens.
And I don't think it's appropriate. It's not ownership, it's debtorship (if that's even a word). The reason that the numbers are high (besides speculation in the market) is because of the drastic drop in interest rates. That spurred the housing market, that kept our economy afloat while simultaneously driving up market prices to what is probably an artificial high. The down side comes when the interest rates climb, adjustable rate holders have to refinance at a higher rate. Now they have a higher mortgage payment that they may or may not be able to afford and their taxes have gone up due to a significant reassessment. This is another reason why I don't know why anyone would want to be elected president in 2008. Most of the fiscal policies recently put into place are due for a crash about midway through that term. Whoever's in the WH is going to inherit the hangover, both domestically and internationally.
Are there any national recognized economists who see the world through your unique lenses.
Home ownership (mortgaged or not) has been an accepted number for assessing the health of our economy, for quite some time. What do you know that leading economists don't?
Drastic drop in interest rates? They bottomed in 2003... and have more than doubled since then. Looking at the lat 15 years, current rates are relatively high.
QuoteQuoteMost of the fiscal policies recently put into place are due for a crash about midway through that term. Whoever's in the WH is going to inherit the hangover, both domestically and internationally.
The Libs didn't seem to recognize a problem when Bush inherited the Clinton hangover in 2000.
I recognized it. Anyone who knows anything about airplane stability could have seen that one coming

Any climb like that is unsustainable and a negative correction is necessary if you want to keep flying. My problem with Bush's handling of it was his negatively stable approach. His first reason for a tax cut was that he wanted to "give the people back their money because the government has taken too much" when referring to the budget surplus. He wanted a tax cut for whatever reason and he also wanted to increase spending in pretty much all areas of government, including areas that didn't exist before he showed up.
And for the record, I also said that the next president after Reagan was going to take a major hit due to Reagan's prolific use of the national credit card.
QuoteQuoteThe Libs ......
< eyes..glazing...over...>
Zzzzzzzzzzzz..........
This seems to happen quite a bit. I'd switch to a more potent vitamin if it was me. Or perhaps a nice little nap.

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QuoteQuoteQuoteMost of the fiscal policies recently put into place are due for a crash about midway through that term. Whoever's in the WH is going to inherit the hangover, both domestically and internationally.
The Libs didn't seem to recognize a problem when Bush inherited the Clinton hangover in 2000.
I recognized it. Anyone who knows anything about airplane stability could have seen that one coming![]()
Any climb like that is unsustainable and a negative correction is necessary if you want to keep flying. My problem with Bush's handling of it was his negatively stable approach. His first reason for a tax cut was that he wanted to "give the people back their money because the government has taken too much" when referring to the budget surplus. He wanted a tax cut for whatever reason and he also wanted to increase spending in pretty much all areas of government, including areas that didn't exist before he showed up.
And for the record, I also said that the next president after Reagan was going to take a major hit due to Reagan's prolific use of the national credit card.
No argument about the spending. Tax cuts only work when spending is reduced.
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Are there any national recognized economists who see the world through your unique lenses.
Home ownership (mortgaged or not) has been an accepted number for assessing the health of our economy, for quite some time. What do you know that leading economists don't?
Politicians being bought and sold by corporate America is also the status quo but that doesn't mean that I have to like it.
Drastic drop in interest rates? They bottomed in 2003... and have more than doubled since then. Looking at the lat 15 years, current rates are relatively high.
And that's the point I was trying to make. The numbers originally quoted were for 2004, the year after the record low. Rates stayed pretty low until they started creeping up over the last couple of years. Now the rates are going up and you can count on foreclosures increasing because people "bought" more house than they can actually afford.
QuoteQuote
Are there any national recognized economists who see the world through your unique lenses.
Home ownership (mortgaged or not) has been an accepted number for assessing the health of our economy, for quite some time. What do you know that leading economists don't?
Politicians being bought and sold by corporate America is also the status quo but that doesn't mean that I have to like it.
Whether you like it not is irrelevant regarding it's validity as an economic indicator.QuoteDrastic drop in interest rates? They bottomed in 2003... and have more than doubled since then. Looking at the lat 15 years, current rates are relatively high.
And that's the point I was trying to make. The numbers originally quoted were for 2004, the year after the record low. Rates stayed pretty low until they started creeping up over the last couple of years. Now the rates are going up and you can count on foreclosures increasing because people "bought" more house than they can actually afford.
The link provided gave homeownership numbers for the last ten years. With the exception of 2002, the numbers rose every year. Was that due to consistently falling interest rates?
kallend 2,150
QuoteQuoteQuote
More people owned homes in 2004 than EVER before. The rate was expected to drop a little in 2005, but it was still high http://www.danter.com/STATISTICS/homeown.htm
Point of order: That figure is deceiving. Holding a mortgage is not ownership. We should expect those numbers to drop as the interest rates rise and force more foreclosures.
You're just splitting hairs. Nationwide housing numbers (that are used to assess the relative strength of our economy) have always included homes with liens.
The population is higher today than ever before too. Maybe there's a correlation.
The only sure way to survive a canopy collision is not to have one.
QuoteThe home ownership rate for 2005 was 68.9%, down slightly from the recent high of 69.0% recorded in 2004. The 2004 rate was the highest rate since the Census Bureau began reporting these statistics in 1965.
wmw999 2,589
Not surprising, given the rapid rise in real estate values. Sometimes it takes money to get money.
Wendy W.
QuoteHowever, dueling statistics here. CNNMoney: finds that while home ownership rates as a whole are up, those for working class (poverty line to 120% of median in the area have had home ownership rates drop in the last 25 years.
The study also showed that home ownership rates for working class families have risen from '91-99, 99-2001 and 2001-2005. It looks like the trend for the last 15 years has been favorable.
QuoteHowever, dueling statistics here. CNNMoney: finds that while home ownership rates as a whole are up, those for working class (poverty line to 120% of median in the area have had home ownership rates drop in the last 25 years.
Not surprising, given the rapid rise in real estate values. Sometimes it takes money to get money.
Wendy W.
QuoteThe study defines working class families are ones whose earnings range from $10,700, or the equivalent of working 40 hours a week at minimum wage, and up to 120 percent of the median income in their area.
I'd really be interested in the size of this group as a % of the total population.
http://www.nhc.org/index/chp-research-publications
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Whether you like it not is irrelevant regarding it's validity as an economic indicator.
I'm no economist but this is SC. Whether or not it's an "accepted" indicator is not my point. The fact that I think it's deceiving is. It's the difference between actual prosperity and perceived prosperity. It's not unilke the dollar. The dollar is only worth the paper it's printed on yet it's perceived value (for now) is higher.
The link provided gave homeownership numbers for the last ten years. With the exception of 2002, the numbers rose every year. Was that due to consistently falling interest rates?
The 90's were great as far as the economy was concerned so you can probably attribute some of the increase to that. The early 00's enjoyed the extremely low interest rates, more increase. Add in the increase in population and you have increasing numbers of mortgage holders. Makes perfect sense to me. But the point that I'm (again) trying to make is that those numbers are likely to change given the current situation. When I think about the economy I'm more concerned with how the current situation is going to affect my two young sons, not with how things might be portrayed for the next election cycle.
The Libs didn't seem to recognize a problem when Bush inherited the Clinton hangover in 2000.
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