Is $700BN enough support or should be be $7.3trillion? Look at Level 2:
A lot of the world is now marking to whatever they please so realty is finished until 2020. UK And Spain are really a disaster even China is no bargain, want to buy a cheap house go to Shanghai and hang out with Jim.
LIBOR dropping a bit as is the TED spread but IMHO banks are still clutching that cash too tightly and successful mortgage applications will only go to Jesus Christ and perhaps Buffet. Everybody else gets turned down and this is hardly the basis for a realty turnaround. So supply and demand means realty has to drop 30-40% at least. Now what does that do to level 2. If the economy depends on housing recovery which, I do not have the economics background to judge, then look out.
We are still frozen I don't care what they say. The tsunami if liquidity did spill out to some cash as a rising tide raises all boats. But too unfocused and we are only in rounds 2.
Auricluny you don't owe any explanation to this loon who has stalked you for 2 years, gold prices have spoken for itself, everything is just noise. This loon and his multiple yahoo ids are his insanity talking. Goodluck to you.
Wow, I am not exactly sure what roar means, however, it is interesting to have my posts of over 2 years ago regurgitated with te prediction that realty will go into free fall.
I was just sooo smart to work out that if you took away all the mortgage money and locked it away into the banksters vaults that Joe average could not afford to buy houses for outright cash at any reasonable price. Geez, I was so smart!
So here is another one - the sun will rise tomorrow morning.
Aren't you guys to have access to the consummate prophet - forget Nostradamus.
RE will not be a good investment until it drops at least another 40%.....renting is ccheaper then buying and gives you max freedom to relocate. Plus, if you buy you have to pay 6% sales commission plus sellers closing costs of 2-4%. So unless your house increases in value (almost an impossibility) you will be in the hole.
Feds losing grip on the situation as every sector caves in.
Big Banks and media manipulating the market and news trying to make a pig into a silk purse as over 416 banks are ready to implode not to mention the level five AltA loans, commerical real estate, and on and on....
yet, everything is ...
"Better then Expected"