tag:blogger.com,1999:blog-5936637281134795592.post4959426215129600574..comments2024-03-08T08:55:52.985-08:00Comments on Whispers from the Edge of the Rainforest: 1997... how far removed are we?Unknownnoreply@blogger.comBlogger6125tag:blogger.com,1999:blog-5936637281134795592.post-85380791993269263892012-11-21T21:11:09.409-08:002012-11-21T21:11:09.409-08:00If "the gov" cared about "prices&qu...If "the gov" cared about "prices" they would not have tightened CMHC standards and bank lending regulations. The government does not care about the price of real estate, they care about debt levels and inflation (or worse, deflation).Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5936637281134795592.post-19287938953144516842012-11-21T20:24:05.877-08:002012-11-21T20:24:05.877-08:00Let's party like it's 1999!Let's party like it's 1999!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5936637281134795592.post-72260351033060655762012-11-21T16:31:49.931-08:002012-11-21T16:31:49.931-08:00Damn your facts and statistics. This is the BPOEDamn your facts and statistics. This is the BPOEAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-5936637281134795592.post-56476311539479542102012-11-21T11:22:03.280-08:002012-11-21T11:22:03.280-08:00The Problem is the gov will do everything in their...The Problem is the gov will do everything in their power o keep prices high. Low Interest rates, no price ceilings on CMHC, high temp immigration, etc.<br /><br />If that doesn't work, then all bets are off.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5936637281134795592.post-73303350417008913172012-11-21T08:03:01.801-08:002012-11-21T08:03:01.801-08:00Another interesting point to add to your list of h...Another interesting point to add to your list of how we got here is the fact that interest rates in 1999 were also a lot higher and are still considered emergency levels today.<br /><br />in 1999, the 5 year fixed rate was 7.39% compared to 2.84% today and the prime rate was 6.44% compared to 3.0% today. Those rates make a big difference to that monthly payment. People better hope today's rates don't also go back to 1999 rates.<br />Craighttp://craigcherlet.wordpress.comnoreply@blogger.comtag:blogger.com,1999:blog-5936637281134795592.post-15374162100222814812012-11-21T03:41:59.912-08:002012-11-21T03:41:59.912-08:00So how far are we from 1997? Well if you listen to...So how far are we from 1997? Well if you listen to a guy named Jeremy Grantham you might come away thinking this global housing bubble burst will send us into a new Dark Ages.<br /><br />Biggest Housing Bubble Since 807 A.D. Has Burst<br />http://www.zerohedge.com/contributed/2012-11-20/grantham-biggest-housing-bubble-807-ad-has-burst<br /><br />From Zerohedge today is a short article suggesting that the US housing bubble is the worst bust in over a 1200 years.<br /><br />Lord help us all if he is right. That bust devastated Italy of the day. The article is fascinating really as it also worries over the derivatives bubbles and those in CDO's and Commercial Real Estate. You need to follow some of the links to catch the whole thing but it is sure to give you sleepless nights.<br /><br />Bottom line takeaway message.....sell everything of value that is exposed and raise cash any way you can because the world is about to get a whole lot rockier.<br /><br />Guess this makes collecting Rookie cards a big fat waste of time.Anonymousnoreply@blogger.com