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The third option is they could be exaggerating the demand.
I can definitely afford it. Home price will be about 2X my annual income. As to whether I see myself living there a long time...let's put it this way...I have been in this area the last 10 years. I have been telecommuting for the last 3-4 years. I cannot say how long telecommuting will work. If I lose my job then I may be forced to move if I cannot find a similar arrangement...not too many employers in this area for what I do, and I would probably have to take a big pay cut. But even without a job I should be OK for some time...that's why I say affordability is not an issue.
Apparently they are not even going to build the home until it is in contract. So they must be seeing pretty high demand, or at least they have figured out some way to restrict supply.
BTW, what do you guys think of iPhone 5S and 5C? The 5C looks like a toy.
Is this a good time to buy a new house?
There are several new developments in my area in neighborhoods that I like. The homes will start being delivered around Feb 2014.
You guys are like the VCs and hedge funds.
I'm getting a 2014.
My current car has been driven so long it is worthless.
I think the market is hot. When I started living in my current place, there were Lexus, BMW, MB, etc. all new ones. Mostly people renting just before buying. Then the downturn hit. First regular old cars, then multi-colored cars started showing up...the ones with non-matching parts from a junkyard. Now things have recovered again...you see reasonable cars and some new Accords and Camrys. An occasional older bimmer or benz. So things are definitely on the way up...by the time dow hits 20K, we should see a lot more bimmers and benz's and new ones too.
He's stopped writing his blog. Did he buy a house in Silicon Valley?
Where is Nemo?
My purchase will count only in October since that's when the car shows up.
What should I do with my old car? Will selling the old car contribute to auto sales?
By mid 2015, my forecast for the Dow is 25000. Those that sit out do so at their own risk.
“Only two things are infinite, the universe and human stupidity, and I'm not sure about the former.”
The mpg should really have doubled over this time. What have car manufacturers been thinking?
In the time I've owned my current car (11 years) gas prices have more than doubled. My new car will only have 20% improved mpg.
Does that mean you'll be taking your shades off?
It's a fake bill.
I won't buy individual names...just SPY/IVV. Nothing else. Maybe GLD.
Thanks. A 328i sedan. Last I bought was a 2003 325i almost 11 years ago and it has 217K miles.
CR is way too smart to give out stock advice.
That's why I'm asking the HCN'ers.
I just ordered a new car.
How many here secretly hope that CR is wrong and ZH/Mish/Ticker are right?
Given things are looking bright for at least the next couple of years, should I buy 100 more IVV to add to my existing 100 IVV?
If I want to bet on new home sales doubling in the next few years, how do I go about that?
Are you a renter? I am!
As a result of the brightness I have ordered a new car.
I don't think there are any bubbles right now. Bonds, stocks, and housing are all fairly priced by efficient markets.
This is a good thing. It means people are happy with their mortgages.
Can't wait for more...I know the ZH negative spin on this cannot be true.
With rates going up and the refinance boom slowing, does that mean more unemployed refinance people, or will they just have better work life balance in the coming days?
Perhaps Bernanke could give them some tips. Did GS ever advise them?
I am disappointed that people aren't reproducing like they used to. We need more people or housing will go down and take stocks and the economy down with it.
The problem is I'm having trouble finding someone to have kids with. It has nothing to do with the economy.
NO TAPER UNTIL UNEMPLOYMENT FALLS BELOW FED TARGET.
Do house prices ever go down?
Some people must be making a lot of money these days.
By the time we start to see the trickle down effect (which will result in sharp drops in unemployment), the S&P will probably be at 2500. I think CR is right when he says the future is so bright he's gotta wear shades.
Do you live in one of those places holding back to school tax holidays?
I don't know. I am in the Sacramento area. How do I check?
FWIW, the housing market is booming as well. Low inventory and crazy asking prices.
This Friday was payday. For everyone.
And back to school shopping.
Does not explain what I saw today...it was mind boggling. Lines everywhere. Took ages to find someone to talk to at the Apple store (I broke my phone yesterday).
My guess is that companies are all set to report record earnings over the next few quarters and unemployment should start to fall dramatically.
Make no mistake...the economy is BOOMING. I could not find a parking spot at the huge local mall today. And when I finally parked a 10 min walk from the entrance, I go in the mall and the shops are full and people have bags in hand like they're doing Christmas shopping.
Nemo? Every time I hear about people living in basements, I think of Nemo.
The 10-year has a 2-handle « self-evident
These shades are not dark enough...my eyes still hurt from the brightness.
A significant portion of the recent decline in the participation rate is due to baby boomers retiring and other demographic trends (like more younger Americans staying in school).
Read more at Calculated Risk
I guess the question is how many of these dropouts are voluntary vs forced (people staying in school because they can't find a job they like).
2014 Mazda 3 looks pretty cool.