Money & Economics
- Thread starter bigredfish
- Start date
mat200
IPCT Contributor
- Jan 17, 2017
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That MFer has my exact name!
Real estate price collapse has only occurred once in a hundred years. Prices tend to be sticky, with low sales volume until inflation finally eats away at the inflated prices. What would cause the bubble to burst, because it would have to be something fundamentally unsound like high-risk loans being bundled in with AAA rated debt. That should have been fixed following the last housing crisis.
That SOB!!! The nerve!!! Seriously, back when they had telephone books in NYC, my name took up 2 pages.
I got lucky... I was a first-time buyer in this 1991 market...
Location has a lot to do with it.
In FL we’re already seeing prices drop significantly.
I suppose home prices can keep going up forever, but I kinda doubt it. Between inflation at 4+% (and real inflation closer to 8%) , combined with wage growth bottoming out, you’re seeing the top 1-10% buying generally speaking. They will always be, but the bottom 90% is tapped out
That SOB!!! The nerve!!! Seriously, back when they had telephone books in NYC, my name took up 2 pages.
There was a kid with my same name in junior college who had the same weight lifting class as me, but at a different time. I grabbed his chart one morning because it had the same sloppy handwriting as me, with my name on it, only the weights weren't right...
I later found out he was the first one arrested from his classroom when they were looking for me. It was like an accidental SWATting on the wrong guy. LOL, I can just hear the conversation now, "are you so-and-so", -"yes", -"you are under arrest". I feel bad for the guy and wonder how long it took for them to realize they had the person?
Good point. My house value is flat. Lucky for me I bought at the recent low point and carried PMI on the mortgage. Did a refi when rates bottomed out and was able to drop the PMI since equity rose more than 20% of the loan value. I thought prices were absolutely insane then and we were at the top end of what banks would lend us.
... been messing around asking AI questions about resort property options. Seems those prices are even stickier since as you point out, the top 10% can still spend the money. Was hoping there was some market timing to buy in lower than where prices are now. You can refi the interest rate, but you cannot refi the principal.
Arjun
IPCT Contributor
When the .gov finally gets around to acknowledging a problem, it’s a fair bet they’re too late.
mat200
IPCT Contributor
- Jan 17, 2017
- 19,181
- 32,095
Theory, why is oil price so cheap ( see the Iran thread discussion we have had on questioning and wondering what is really going on )
China China China
Theory is that China has decided that it will control the demand by building a massive oil storage out and filling it with cheap oil ..
China Replaced OPEC — And Nobody Is Talking About It
This video, featuring Troy W. Eckard of Eckard Enterprises, explores how China has positioned itself as the world's new "swing demand" player in the global oil market, potentially shifting power away from traditional supply-side influencers like OPEC.
China China China
Theory is that China has decided that it will control the demand by building a massive oil storage out and filling it with cheap oil ..
China Replaced OPEC — And Nobody Is Talking About It
This video, featuring Troy W. Eckard of Eckard Enterprises, explores how China has positioned itself as the world's new "swing demand" player in the global oil market, potentially shifting power away from traditional supply-side influencers like OPEC.
Key Takeaways:
- China's Massive Storage Strategy (1:37 - 2:35): Over the last decade, China has built enormous storage capacity—estimated between 1.2 and 1.5 billion barrels—which is roughly twice the size of the United States’ Strategic Petroleum Reserve.
- Control Through Demand (3:31 - 4:12): Unlike OPEC, which traditionally manipulates oil prices by adjusting supply, China exerts control by manipulating demand. By deciding to stop purchasing oil and instead relying on its vast stockpiles, China can force global prices downward.
- Market Manipulation Mechanics (4:56 - 6:02): By intentionally halting imports, China can create a temporary supply glut. Once prices drop significantly due to this lack of demand, China enters the market to purchase large volumes of oil at lower prices, effectively replenishing its reserves at a discount.
- Recommendations for the U.S. (6:32 - 7:35): Eckard argues that the United States should similarly invest in a much larger strategic storage capacity (1 to 3 billion barrels). This would allow the U.S. to buffer against OPEC supply shocks without forcing domestic producers to sell their oil at deflated prices during temporary market gluts.