Sub Prime any end in sight?

u know this is the single biggest
effect on my financial life right now
i live in south africa
the other side of the world

when america sneezes then the whole world catches cold

has it hit bottom yet?
starting to swing up again?
just maybe, hopefully?

who are the ones responsible,
or is that firmly brushed under the carpet

I think America is just bracing for the next election and then we can pick up the pieces from there. I just hope that no one assassinates Barack. That could be the straw that breaks the camel's back.

there are a number of factors, but I think the biggest factor was the huge drop in interest rates the fed instated from 2000 to 2003

There is end in sight. But, it's going to be a year or more until things can get back to below normal. I work in the construction industry and this has me on edge a little bit. We just have to many empty houses, and the banks are being more cautious about lending out their money. And they should have been like this all along. People should not buy homes for short term investments. Long term yes, but not short term. My generation is just leaning the value of credit, and living beyond our means, thats the bottom line. Its a shame that someone on the other side of the world has to be affected by this.

A lot of houses are popping up for sale around me. I've also noticed a huge increase in people selling their big ticket toys. (motorcycles, boats, ATV's etc) Too many people have homes they can't afford and everything else they own is bought on credit.
I'm thinking it'll get worse before it gets better.

Don't worry...Obama will make it all go away and we will love him for it. We will embrace the masters that control our lives and willfully accept the leash that they place upon our necks.

Good doggie!

VTXDave said:

Don't worry...Obama will make it all go away and we will love him for it. We will embrace the masters that control our lives and willfully accept the leash that they place upon our necks.

Good doggie!

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Ya I love all these folks that think Pappy Obama is going to fix everything.

shamegame said:

Ya I love all these folks that think Pappy Obama is going to fix everything.

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Hey...Every time I hear him speak I feel as though I'm going to faint!
YouTube - Obama's Fainting Ladies

It's all about "Change" Baby! What exactly that means is left up to the interpreter.

The real estate problem has barely started. It will be over soon after the general public's sentiment is that it will never end. McCain, Obama, it won't matter who is in office as the economic fundamentals have already been put in place.

Actually the problem of falling home prices will continue until there has been enough first time homebuyers to buy the overstock of properties available on the market. It is supply and demand at this point.

The homebuilders built new homes at a rate FAR exceeding the rate of new home buyers entering the market. Then the Subprime fiasco accelerated the availability of more homes. A huge bubble breaker for sure.

We still have several years before the market can stabilize. With the other many geopolitical forces and pressures on our wailing economy, we may not ever fully recover...................

tipsgnob said:

the sad thing is...maybe nobody can fix it...

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The next president won't be fixing the core problems we have. The only thing that can save us is swift and brutal campaign reform. We need to find more ways to take the profit out of public service.

Every ballot needs the option of

"none of these candidates"

I'm sick of the choices all sucking. It's all about pocket lining. This country is no longer of the people, by the people, for the people,

it's now of the politicians, by the politicians, for the highest bidder.

We can't fix the country until we fix Washington.

I dont know when it will end,i follow very little politics & am not an economist,i do know that now is the right time to pick up homes dirt cheap if one has the cash,short sales,bank owned foreclosures are going for pennies on the dollar where im at.

The best homes to find are the ones where the previous owner damaged them, like taking copper plumbing or neglectfull in home repairs,serious cash to be made as rental units.

VTXDave said:

Hey...Every time I hear him speak I feel as though I'm going to faint!
YouTube - Obama's Fainting Ladies

It's all about "Change" Baby! What exactly that means is left up to the interpreter.

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Dude, is it wrong to hope? Should we just give up? Give a motherfucker a chance - he'll at the very least - be an improvement.

skulnik said:

Dude, is it wrong to hope? Should we just give up? Give a motherfucker a chance - he'll at the very least - be an improvement.

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You have every right to support Obama. But I have seen no evidence that Obama ( or ANY of the candidates still in the running ) will be any improvement over Bush. Not only is Obama just another CFR asshole,The current administration is locking things down so that no matter who the next president is, they will be forced to play the hand passed to them by Bush and Co. We will be in Iraq for at least 10 more years to some extent. And money is currently being earmarked to fight the coming war with Iran.

thanks all, very informative

but not very reassuring

what it needs is a new industry to boost it all and soak up all that credit lying around, methinks


like flying cars for instance

shamegame said:

The next president won't be fixing the core problems we have. The only thing that can save us is swift and brutal campaign reform. We need to find more ways to take the profit out of public service.

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I agree with that all the way.

PoseidonsNet said:

like flying cars for instance

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Flying cars will never work... imagining how some people drive, I don't want to think about them flying.

How about, cheaper aircraft?

"the-jet" by cirrus

Oh yeah, if you're wondering Poseidon, Cirrus uses Xplane to test the The Jet before it goes into production, watch the video!

Flying cars will never work... imagining how some people drive, I don't want to think about them flying.

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correct. nobody will agree with you more on this than me!

but if they are programmed to fly by computer (with manual override in emergencies only) then it can be made safer than motor cars by 1000 times.

see my model for computerised flight control for ornithopters in a built up city.

Rotating wing : Ornithopter Traffic control
(precisely bcos people r dangerous)

socatta:
u have me more than half sold on xplane, i just cannot stand to eat porridge more than once per day, y'know!

i'll get there
sooner or later
u go on about it so much, i am starting to drool at the thought

so u think it will have an option for my wing design?
can u give me a screenshot to encourage me that my design can apply to xplane?

can one add there own computer code to it? (doubt it?)

remember my design is not exactly orthodox