How bad will it have to get?
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I am by no means educated on any of these topics. I find everything you guys say interesting enough to roll around in my head and make me wonder. Putting together ideas of my own on how my life is personally being influenced.
All I can say is that my wrx is costing me pretty ****ing close to $50 a tank filling up off empty. I have already started putting together my first of 2 old steel frame road bicycles. It is scary to me that at one point I had taken into account a full years worth of pay checks to make sure I could afford my car and still live comfortably yet now I have nightmares of selling my car.
I 100% agree that something needs to be done about our economy. Getting extra money on our taxes isn't going to help. The public (IE: me) needs to be educated and then they (IE: us) need to take action to correct it.
All I can say is that my wrx is costing me pretty ****ing close to $50 a tank filling up off empty. I have already started putting together my first of 2 old steel frame road bicycles. It is scary to me that at one point I had taken into account a full years worth of pay checks to make sure I could afford my car and still live comfortably yet now I have nightmares of selling my car.
I 100% agree that something needs to be done about our economy. Getting extra money on our taxes isn't going to help. The public (IE: me) needs to be educated and then they (IE: us) need to take action to correct it.
source is found how would we the typical car enthuiast be able to utilize this energy? doesnt sound so promising if you think about it. government can careless about us and our subie community. our nation is far to dependent on foreign oil only way we can bring prices down is if we start drilling. Mexico i hear has tons of oil and south america. haha
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isn't it a little hypocritical for us to talk about spending on items outside of the U.S., and angry at gas prices?
Subaru = Japanese company
WRX+STi's+Foresters+Legacies = Not exactly a gas sipper
Not sayin you guys are wrong, cause i totally agree with you guys fully.
Subaru = Japanese company
WRX+STi's+Foresters+Legacies = Not exactly a gas sipper
Not sayin you guys are wrong, cause i totally agree with you guys fully.
This is probably a bit naive but... At the rate that military aircraft and other vehicles consume fossil fuels - shutting/slowing down those operations overseas would probably have the hugest impact yet in fuel usage and such. I heard on NPR a few stats on how many GPH needed to keep a C-130 up, a couple of the tanks, etc. It is flat out mind blowing. I love planes and flying, but every time I see those C-130's on approach to Moffet, I think about that. Here we are worrying about fuel prices and our own fuel economy which is the proverbial teardrop in the ocean compared to what our gov't is doing.
That's some pretty interesting info - from Ipecac and Joe250. Definitely a bit more than food for thought.
That's some pretty interesting info - from Ipecac and Joe250. Definitely a bit more than food for thought.
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Why is this moved to politics? This is America! Where the government doesnt control the economy.... free markets, right?
If you want some more good info http://calculatedrisk.blogspot.com/
Why is this moved to politics? This is America! Where the government doesnt control the economy.... free markets, right?
Why is this moved to politics? This is America! Where the government doesnt control the economy.... free markets, right?
Very interesting graph and comments.
A tidbit I got from a broker friend on Monday ...
"Starting June 1 new Credit Score requirements roll out. If your score is below 740 - that is not a typo - you can expect to pay more to get a loan."
Personally I'm continuing on the same path as a few others here; save, save, save and hope to be ready to jump into the housing market when the timing is right. I also checked my credit score this week ... numbers are good
A tidbit I got from a broker friend on Monday ...
"Starting June 1 new Credit Score requirements roll out. If your score is below 740 - that is not a typo - you can expect to pay more to get a loan."
Personally I'm continuing on the same path as a few others here; save, save, save and hope to be ready to jump into the housing market when the timing is right. I also checked my credit score this week ... numbers are good
I got some for ya; simple math.
So currently you are saying a 800k house in say lafayette/walnut creek is going to be 500k or less????never going to happen dude. Housing in bay area will never fall below what it was 10 years ago. Bay area aint growing any new land.
Last edited by slow04wrx; Mar 7, 2008 at 11:50 AM.
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No offense dude you seem like a smart guy and to know your stuff. But if you think housing prices will drop 40% in the bay area you are tripping. We could make a wager if you want. (I must say if we get into a massive war or start getting attacked on our soil, or there is a nuclear war housing prices could drop that much)
I got some for ya; simple math.
So currently you are saying a 800k house in say lafayette/walnut creek is going to be 500k or less????never going to happen dude. Housing in bay area will never fall below what it was 10 years ago. Bay area aint growing any new land.
I got some for ya; simple math.
So currently you are saying a 800k house in say lafayette/walnut creek is going to be 500k or less????never going to happen dude. Housing in bay area will never fall below what it was 10 years ago. Bay area aint growing any new land.
Lending standards went out the window. It was adjustable rate and stated income loans that fueled this mess. Check out the reset schedule.
Sub prime is just getting started and Alt-A is going to take a big hit. Just because someone has good credit does not mean they will continue to make good decisions.
You have to figure it is going to take 6 months to foreclose and get the properties to the banks, making the time to buy in mid to late 2012.
This chart doesn’t even count for the massive amounts of home equity lines that were taken out. It is going to be a mess. As long as you didn’t buy a home in the last 3-4 years or don’t work in the housing/financing industry, you should be ok. Be willing to take pay cuts to keep your job, and do what you can to manage your other debts. (Credit card debt is going to be the next big set of defaults, along with student loan debt)
Just be smart, save and don’t over spend, and you should be able to ride out the recession unscathed.
My Guess (not to be taken as advice):
Housing drops another 40% in the Bay Area, peak to through. To the would be haters, if you don’t believe me, please bust out some data and I will bring mine. I do have several sources to back up the opinion; I’m just too lazy to get it unchallenged.
Sub prime is just getting started and Alt-A is going to take a big hit. Just because someone has good credit does not mean they will continue to make good decisions.
You have to figure it is going to take 6 months to foreclose and get the properties to the banks, making the time to buy in mid to late 2012.
This chart doesn’t even count for the massive amounts of home equity lines that were taken out. It is going to be a mess. As long as you didn’t buy a home in the last 3-4 years or don’t work in the housing/financing industry, you should be ok. Be willing to take pay cuts to keep your job, and do what you can to manage your other debts. (Credit card debt is going to be the next big set of defaults, along with student loan debt)
Just be smart, save and don’t over spend, and you should be able to ride out the recession unscathed.
My Guess (not to be taken as advice):
Housing drops another 40% in the Bay Area, peak to through. To the would be haters, if you don’t believe me, please bust out some data and I will bring mine. I do have several sources to back up the opinion; I’m just too lazy to get it unchallenged.
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I agree that the Bay Area is a high demand area. The price to income has always been around 4 to 4.5, where in most other areas it is 2.5 to 3. Right now it is at 9! Thats double the historic average, even after the current losses.
The Bay Area pays well, but only due to increased living costs. We pay over 15% more on living expences on average, that means we need to make 15% more.
Oh and dont worry about the population; as jobs dry up, pleanty of the immigrants will be heading home.
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im for you on this also some of the highest paying jobs in the country are in the bay area and everyone wants to live here i dont see any reason for the housing to drop by 40%. unless half the population move or new land magically appears either way far from a long shot. The demand to live in the bay area is just to high and will remain unless something like castasrophic event happens.
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But that is what some parts of the country have already seen, and if this trend doesn't get massively slowed or turned around soon, it might not be terribly far off the mark.
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From: bay area, Ca
Car Info: 07 Sti aka Subrina!
Registered User
iTrader: (5)
Joined: Jan 2008
Posts: 376
From: bay area, Ca
Car Info: 07 Sti aka Subrina!
also another reason why housing in the bayarea is so much is that.. i dont have exact numbers but tons i mean the majority of high tech companies are based in the silicon valley. silicon valley leads the country in high tech companies and those companies pay top dollar hands down