Greenspan 7/20/2005

[HFWR]

Won't mention Barry Manilow, then...

"Oh, Mandy..." :

[yakers]

Now to tie things together on this thread...the music selection is messing with our heads but really Greenspan is messing with our heads too. We have a wonderful economy except for all those terrible threats....or we are in real trouble but there are all these wonderful possibilities as well. All these counter intuitive occurances like oil goes up-market goes up and oil goes down-market goes down (substitute unemployment, balance of trade or interest rates) really mess with my head. I am a really simple guy. Now back to the latest Audioslave song (Doesn't Remind Me) playing in my head.....

[BigMoneyJim]

Quote:

We have a wonderful economy except for all those terrible threats....or we are in real trouble but there are all these wonderful possibilities as well.

I'm getting this kind of thing at work: big bonus, great profit margins, making business goals, the future is rosy, but DEAR GOD DON'T SPEND ANY MONEY! Uh, what?

[newellcr]

Quote:

Originally Posted by Bookm The August Kiplinger's had an article listing the riskiest housing markets, according to Fannie Mae starting with the riskiest: 1. Boston 2. NY City 3. Fort Lauderdale 4. DC 5. Detroit 6.

Risky to who, the mortgage company or the buyer? As far as I can tell, there's no housing froth in the Detroit area. Housing prices in the Metro Detroit area are down slightly from last year. I make this statement based on some DOM data that I have for my own neighborhood, discussions with realtors, and reviewing comparable sales. I recently fought a real estate tax increase and won (partially, anyway). That's why I did the research.

Cheers,

Chris

[Nords]

Quote:

Originally Posted by BigMoneyJim I'm getting this kind of thing at work: big bonus, great profit margins, making business goals, the future is rosy, but DEAR GOD DON'T SPEND ANY MONEY! Uh, what?

Personal interpretation: Sell all your company stock NOW.

[bosco]

Quote:

Originally Posted by shiney In California Dreaming the lyric is actually "I pretend to pray" I know it well, lost a bet about it once!

Ok, maybe someone here can enlighten me. I keep hearing this song, but the lyrics don't make any sense. I think (not sure) it was by Manfred Man

"blinded by the light
wrapped up like a douche in the middle of the night"

I know that can't be right (unintentional rhyme) but what in the heck IS he saying?

Bosco

[wabmester]

http://www.80smusiclyrics.com/artists/manfredmann.htm

[Bookm]

Greetings newellcr:

Quote:

Risky to who, the mortgage company or the buyer?* As far as I can tell, there's no housing froth in the Detroit area.* Housing prices in the Metro Detroit area are down slightly from last year.* I make this statement based on some DOM data that I have for my own neighborhood, discussions with realtors, and reviewing comparable sales.* I recently fought a real estate tax increase and won (partially, anyway).* That's why I did the research.

You're correct of course, Detroit certainly isn't experiencing any huge gains in home prices. But the housing risk study mentioned there was a 38% risk of a price downturn in Detroit for other reasons due to the area's job market problems (Auto maker layoffs). Median income and a declining population would also be negative factors I'd say as well.

Bookm

[newellcr]

We're already experiencing the downturn and MI has relatively severe unemployment. It started about 3 years ago with the over $300k market. It oozed into the over $200k market about a year ago. Now the entire market is soft, not brutally so, but it's soft. There were several communities that had nice gains now that I think about it. It was isolated and I couldn't figure it out - those communities had nothing special to offer me.

Cheers,

Chris

Another regional datapoint indicating the possibility of a softening market (may require subscription, dunno):

http://www.boston.com/news/local/mas...ist/?page=full

...The number of canceled listings in Massachusetts has nearly tripled since 2001, a sign that one of the hottest real estate markets in the country is beginning to cool down, said real estate specialists. It ''tells you is the market is softening. Demand is declining," said Karl Case, professor of economics at Wellesley College.

The practice of canceling and relisting a property, which shortens its days on the market, makes it difficult for analysts and economist to gauge the strength of the real estate market. ''I rely on that data," Case said. ''I'd prefer they not do it."

On June 30, Massachusetts houses sat on the market, unsold, for 70 days, on average, unchanged from June 30, 2004, MLS data show. But May home sales in Massachusetts were 11 percent below May 2004 sales, and agents are bemoaning a growing inventory of houses for sale in some Boston suburbs...

[HFWR]

"...wrapped up like a deuce, another runner in the night..."

Still doesn't make sense, though!

FYI, written and first performed by Bruce Springsteen.

[bosco]

Quote:

Originally Posted by Have Funds, Will Retire "...wrapped up like a deuce, another runner in the night..." Still doesn't make sense, though! FYI, written and first performed by Bruce Springsteen.

Thanks to both the posts that cleared this up for me. Although it still doesn't make sense as you pointed out.

Bosco

[Michael]

I think the original lyrics by Springsteen may have been revved up like a deuce. later changed by Manfred. (A deuce being a car popular with people who liked to drive fast in days of yore.)

[wabmester]

Deuce referred to dual-carb, didn't it?

[Michael]

It can refer to a type of carburetor, or certain models of cars . Take your pick.