tag:blogger.com,1999:blog-11719208.post8267729943965242793..comments2023-11-05T04:36:14.223-08:00Comments on The Mess That Greenspan Made: Consumers, they are a-changin'Timhttp://www.blogger.com/profile/16530974968126497397noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-11719208.post-35694840401011662182010-01-19T07:37:04.441-08:002010-01-19T07:37:04.441-08:00Yeah, made those changes quite a long, long time a...Yeah, made those changes quite a long, long time ago. <br /><br />I rarely use credit. I don't get the opportunity to lever up, but I never miss a wink of sleep either. I've always been suspicious of banks, counted on myself and lived within my means. I've always bought items at the grocery store that were the lowest price per unit of measure; that's not always the store brand though. I've never been a brand loyalty guy though. I don't get the rental rebound. There are still two, brand-new condominium complexes in my neighborhood that were completed over a year ago that have no occupants. Although complete, they magically have not hit the market yet. Rental prices in my neighborhood are still too high. While they're not as high as a mortgage payment would be, they're too high to allow the people paying rent to save for a down-payment on a home purchase.Danhttps://www.blogger.com/profile/14611189349119964821noreply@blogger.comtag:blogger.com,1999:blog-11719208.post-4069751462472064982010-01-18T18:21:42.984-08:002010-01-18T18:21:42.984-08:00The lack of citizen enthusiasm for more debt could...The lack of citizen enthusiasm for more debt could push the central bank into a frenzy of printing. This could make things worse, much worse.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-11719208.post-63385437963817909912010-01-18T16:21:39.274-08:002010-01-18T16:21:39.274-08:00For a "rental rebound", rental vacancies...For a "rental rebound", rental vacancies sure seem at an all time high.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-11719208.post-82828463643614551072010-01-18T11:55:21.237-08:002010-01-18T11:55:21.237-08:00There are two broad groups of people who are losin...There are two broad groups of people who are losing their homes these days:<br />1. People who had no business buying and could only do so as a result of low interest rates and lax lending standards.<br />2. People whose incomes have been severely impacted by the recession. <br />I think he was referring to group 1, whereas, you're in group 2.Timhttps://www.blogger.com/profile/16530974968126497397noreply@blogger.comtag:blogger.com,1999:blog-11719208.post-20793451065882331782010-01-18T11:39:12.649-08:002010-01-18T11:39:12.649-08:00Tim,
Your point re:
"A rental rebound. The ...Tim,<br /><br />Your point re:<br /><br />"A rental rebound. The "ownership society" is over. After peaking a few years ago, home ownership rates, not surprisingly, have started a long journey downward as foreclosures shake out people who couldn't afford their homes..."<br /><br />I lost my home. Not because it wasn't affordable, but because my career of some 20 years came to a screeching halt in 2007. Before that, I could afford my mortgage, gas, groceries, child support, etc. and still had 20 percent of my NET income for savings and early retirement of my auto loan.<br />I had no other outstanding debt. In the last 3 years I have seen a total of 7.5 months of available work, total. I am protesting the broad-brushstroke indictment of millions of people who, like myself had the foundation of our lives taken away, probably for good. Please exercise a little more sensitivity and stop repeating a "stock" talking point as an absolute unilateral truth.<br /><br />Okay, flame/rant over. Thank you for listening.Anonymousnoreply@blogger.com