NOW I understand...

[mietla]

Originally posted by Mini D
Airhead.... your main problem is that you voted 4 days too late.

so what? every vote counts.

[oboe]

Originally posted by Steve
Staga, please show me an example in the U.S. of how the budget is the key factor the the state of the economy.

Our economy is BOOMING, growing nicely thank you;all the while the deficit increases.

What are you going to say?  The hammer is going to fall?  Borrowed time?   Blah blah blah, we've run at deficit for many many years, during that time we have remained the most productive country , THE world power, most charitable country, maintained among the highest standard of living, increased homeownership significantly.... etc etc etc etc etc etc etc.

How again is the balanced budget the key factor in our economy?

I could maintain a "booming" household economy too, if I kept getting new credit cards and maxing them out.  Sooner or later the bill will due, and I don't think the creditors will accept "Blah, blah, blah." as payment.

The United States has a much higher average hours worked per person than many countries, yet we have more people below the poverty line than 26 other nations.     Our standard of living is in the lower half of the top ten; we are consistently lower than the Scandinavian countries, Canada, Australia, and Japan.   The American health care system is one of the best in the world, but is one of the worst amongst developed countries.
Our grade school education system is below many developed countries.  

The truth may hurt, but I don't think we have much to brag about standard-of-living wise to citizens of other developed countries.

[Steve]

could maintain a "booming" household economy too, if I kept getting new credit cards and maxing them out. Sooner or later the bill will due, and I don't think the creditors will accept "Blah, blah, blah." as payment.

Make excuses all you want. invent things all you want.  You cannot deny that the housing market is booming.  Try this, just once: the economy is growing.

Maybe you're one of those whackjob leftists that just cannot face that things are going good in the economy.... can't help ya.

[Steve]

The American health care system is one of the best in the world, but is one of the worst amongst developed countries.

This is just plain bulllshiit

[Maniac]

Originally posted by Steve
You cannot deny that the housing market is booming.  Try this, just once: the economy is growing.

That may be because its so cheap to make loans... The interest is low, so people can afford to loan money to buy a house.

But when the interest goes up?

[Steve]

That may be because its so cheap to make loans... The interest is low, so people can afford to loan money to buy a house.

Certainly low interest loans have something to do with it.  Interests rates WILL go up.  Someday the housing market will not be as booming as it is now... is that your point?

[Maniac]

I dont really have "point" i just replyed to your post...

I can relate to over here, alot of people that "lives on the margin" sees the house market to make money, they buy houses/appartments to SICK prices right now, due to the interest rates being so low...

And if the interest rates would go up 1-2 notches due to whatever reason, then theres alot of people wanting to sell their stuff because they cant afford to live there anymore.

And if this happens, they will flood the market. And prices will drop alot.

IMHO.

EDIT : but it sort off aplies to what oboe said :

I could maintain a "booming" household economy too, if I kept getting new credit cards and maxing them out. Sooner or later the bill will due, and I don't think the creditors will accept "Blah, blah, blah." as payment.

[Steve]

Maniac, most mortgages are fixed rate.  Even the ARM's have a maximum amount that they can go up.  A sttep rise in interest rates would no doubt impact new loans/housing starts but would have little effect on those that already have loans.

Forgive me if I misunderstood your post.

[Maniac]

No prob man.

Over here everyone is running a "floating rate" and they have a "option" to bind it.. (fixed rate). But as soon as you go for the Fixed rate, it aint so appealing anymore. Because the "floating rate" is much much much cheaper interest wise...

I dont know much about this topic, im just using common sense when i watch this phenomon (sp?) from the sidelines.

I just cant get the feeling away that this is the next "IT-Bubble" waiting to burst.

[Thrawn]

Originally posted by Steve
I agree that the liberal left, like Thrawn, RPM, and their ilk are dangerous to anyone who wants to keep the money they earn.

I'm more of a capitalist than you could ever dream of being, but go ahead and pidgeon hole, it means you have to think less.

[Steve]

ahhh.   Here "interest only" loans are big.  The housing market is so big that there is a lottery on new lots.  I bought a rental with a nothing down loan.  If I had more money I'd make a mint on the housing market here in AZ and there is no sign of it slowing down.

I'm getting my real estate liscense so I can get into it more.  I've already made some  money and it's not due to any special brilliance on my part ( I'm your average guy).  It's a no brainer right now.

Here's how simple it is:  You buy a house in the new stage of a development.  Then you allow the contractor to delay building it as long as they want.  by the time the house is completed in 6 months it's worth 20K more than you paid for it.  You can sell it in one day.  Houses are selling like hotcakes for full pop.

[Bodhi]

Originally posted by Thrawn
I'm more of a capitalist than you could ever dream of being, but go ahead and pidgeon hole, it means you have to think less.

provide details ohh mr capitalist extrodinaire...

otherwise, STFU

[Steve]

Thrawn, your politics are so far left of center tha tthey're off the page, whackjob.

I'm more of a capitalist than you could ever dream of being

You have no idea how much of a capitalist I am, fruitcake.

[Maniac]

Originally posted by Steve
ahhh.   Here "interest only" loans are big.  The housing market is so big that there is a lottery on new lots.  I bought a rental with a nothing down loan.  If I had more money I'd make a mint on the housing market here in AZ and there is no sign of it slowing down.

I'm getting my real estate liscense so I can get into it more.  I've already made some  money and it's not due to any special brilliance on my part ( I'm your average guy).  It's a no brainer right now.

Here's how simple it is:  You buy a house in the new stage of a development.  Then you allow the contractor to delay building it as long as they want.  by the time the house is completed in 6 months it's worth 20K more than you paid for it.  You can sell it in one day.  Houses are selling like hotcakes for full pop.

I hear ya man. Its the same situation over here, but with a twist.

But you have to ask yourself... SOMETIME people will have a limit to what they have money wisey to shell out. A roof is bound to be hit.

Or am i wrong? After all, peoples salaries aint rising with the same rate as of the house/appartment costs?

[Steve]

Well your bubble speculation could be right.  I believe that one should know when the market is going to have a downturn.  I don't have a crystal ball but dramatic housing and interest rate changes  are not that hard to foresee, IMHO.

One day the housing market will have a downturn, no doubt.

Housing costs/salary ... interesting.  Yes, with rising housing costs, maybe..... smaller/cheaper houses?   Dunno.