But homeowners? They plod along. Maybe they think their house will come back in price. Maybe they think they’ll suffer some awful penalty if they default.
February 4th, 2010 | Bill Bonner | 7 comments | ContinuedAll Posts Tagged With: "homeowners"
Hidden Inventory of Unsold Houses Will Depress Housing Prices
“Dad, I’ve got a good tenant in there. Besides, it’s not in very good shape. I’d rather sell it than invest more money in it. And there are so many places on the market, I can rent something better…
November 11th, 2009 | Bill Bonner | 0 comments | Continued
Zombies at the Fed and the Treasury Department Try to Gnaw on Survivors’ Savings
The new movie – Zombieland – about a group of survivors in a world of zombies, was the biggest grossing film in America and Canada over the weekend. It must reflect the zeitgeist of the North American public…
October 6th, 2009 | Bill Bonner | 0 comments | Continued
What’s a Consumer Economy Need in Order to Keep Growing?
“US consumers are cutting back, and where they are not cutting back, they are scaling down. This new cycle is all about ‘getting small’ and it is deflationary.
September 23rd, 2009 | Bill Bonner | 1 comment | Continued
Wall Street Bankers: The World’s Most Privileged Outcasts
Today we turn our attention to the world’s most privileged outcasts. “Once envied, Wall Street bankers are now mocked,” says a headline at the International Herald Tribune. So many people are getting on the bankers’ case; we’re beginning to feel sorry for them. After all, what did they do wrong? Well…
February 5th, 2009 | Bill Bonner | 1 comment | Continued
A Nation of Patsies…in a World of Hurt
In the beginning, the U.S. government was specifically limited in what it could do. Now, very little remains that it can’t do. But in all matters – big or small…torturing people or taking their money – government leaders must pretend to be acting in the national interest. It’s a low-down, dirty business that usually attracts people of the same sort. People like George W. Bush and Joseph Biden…people with no sense or no principles – or neither. People who don’t know a lie when they hear it or…don’t mind telling one. That’s why we’re sorry to seem Obama in the trade; he seems like such a nice fellow…
January 20th, 2009 | Bill Bonner | 3 comments | Continued
Rate Cut of 100 Basis Points Couldn’t Cheer Up the All Ords
Well well well. Not even a bonus rate cut of 100 basis points could cheer the All Ords up yesterday. There was red in nearly every sector of the market. Stocks rallied on Wall Street overnight. The futures are up 70 points ahead of the market opening. Looks like more green here in Australia. The RBA wouldn’t have been that fussed about the action in the stock market yesterday…
December 3rd, 2008 | Dan Denning | 3 comments | Continued
Housing Decline Will Put 10 Million Homeowners Upside Down, With More Mortgage Than House
Housing decline will put 10 million homeowners upside down, with more mortgage than house. It will lead to collapsing credit…defaults…and huge losses to lenders. It will also bring about a big cutback in consumer spending and unavoidably push the United States into a deep recession.
February 21st, 2008 | Bill Bonner | 0 comments | Continued