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Debate House Prices
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Federal Reserve: No recovery without housing market recovery
Comments
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HAMISH_MCTAVISH wrote: »No, it can't.
A modern society with universal healthcare and social security systems only works when there's 1 pensioner for every 4 or 5 workers.
We don't look likely to ever achieve this, only huge numbers of young people out of work and ever increasing numbers of elderly people.0 -
HAMISH_MCTAVISH wrote: »Serious Oversupply = Economic Devastation (for example Ireland)
I think you'll find that.... Rediculous housing bubble = Economic devastation. No coincidence that your example (Ireland) had the biggest bubble of them all.
Oversupply does not equal Economic devastation. German houses are underpriced, and have been for a long time. You could argue that they have a chronic oversupply, but I don't see any economic devastation there. Quite the opposite, probably helped by low cost housing.0 -
Graham_Devon wrote: »The problem for Hamish in this thread is that the US economy seems to be at least dusting itself down now, and providing some positive results.
So why then are the Fed Reserve board members being quoted in the OP as saying that they need to get the housing market recovering again?“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
HAMISH_MCTAVISH wrote: »So why then are the Fed Reserve board members being quoted in the OP as saying that they need to get the housing market recovering again?
they do not appear to be saying that they want prices to increase. Merely more activity.
People still do move house even with stable prices.0 -
We don't look likely to ever achieve this, only huge numbers of young people out of work and ever increasing numbers of elderly people.
People said the same things in the 90's.
Unemployment is high today, and will be low a decade from now, then high a decade after that..... then rinse and repeat.
That's the nature of a cyclical economy.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
No coincidence that your example (Ireland) had the biggest bubble of them all. .
Actually Australia has had significantly higher prices for far longer than Ireland. Yet no economic devastation.....
Also China has areas where house prices are 88 times local average income. And again no economic devastation.
High house prices are not the problem, and never have been.
Crashing house prices are what take down an economy.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
HAMISH_MCTAVISH wrote: »
Crashing house prices are what take down an economy.
Crashing house prices are usually a symptom of a sick economy.0 -
HAMISH_MCTAVISH wrote: »People said the same things in the 90's.
Unemployment is high today, and will be low a decade from now, then high a decade after that..... then rinse and repeat.
That's the nature of a cyclical economy.
But the numbers of elderly people will just keep on growing..... the nature of ever improving healthcare..... possibly!0 -
HAMISH_MCTAVISH wrote: »
Crashing house prices are what take down an economy.
I'm begining to feel sorry for you again.0 -
Graham_Devon wrote: »I'm begining to feel sorry for you again.
So you should.
I have to deal with your nonsense on a daily basis.:money:“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0
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