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Good thing this "recovery" is going so well!

Old 05-19-2010, 07:13 PM
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Originally Posted by Jpzaluski View Post
I know I may open myself up for a bit of flame, as people generally become rather "emotional" in regards to my industry, but oh well. I'm in the collateral recovery (repo) industry, and if our current numbers are any sign of the times, things are on the up and up. We generally experience an extreme slow down around tax time, as people get their refunds, however this year things are slow to pick back up. We're down roughly 200% vs. just 3 or 4 months ago. I'm not saying this is, or should be a measure of our nations financial state, however I feel, at least in regards to the repo industry, things have stabilized. At least for the time being....
Interesting insight, and makes sense if you think about it.

All, or most of the real posers have had their house of cards fall down already. Many of the people who were maybe a bit overextended have been able to adjust their positions, tighten up, maybe liquidate some assets to generate $$$ to bridge the gap, etc. and are simply riding things out right now- hoping for a continued recovery.

Even though inextricably joined at the hip, the real estate market should not be conflated with the economy in general. Our economy is a juggernaut and hopefully the recent signs of life will continue to grow as we get back on track. But, I agree, the housing market will never return to where it was. That reality is painful for a lot of folks.
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Old 05-19-2010, 09:15 PM
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On average, I think the long-term appreciation on houses is somewhere around 5% or so? If you look at housing from 2000 through now, I believe the average is around 5% appreciation. Obviously, some areas are higher or lower. The house is not a piggy-bank, it's an inflation hedge. The idea of the house as ATM machine and GDP growth engine was from 2001 through 2004, in 2005 and 2006, the real crooks took over.

If you take refis and shady financial earnings out of the last decade (most of which is long gone anyway), you pretty much get negative growth and negative earnings growth. Not a stellar performance. Fake never is.
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Old 05-19-2010, 09:29 PM
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Originally Posted by DollaBill View Post
1 in 7 mortgages! I maintain we aren't even half way through this nightmare yet...

We have not even bottomed out yet and they are talking about V shapes LOL. Idiots
No doubt about it. The manufacturing industry is so up and down Finally made the decision to downsize too, just like my income. Umm, btw, got a great place for sale!!
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