Sub-Prime is just the beginning
- Thread starter Scott Free
- Start date
I think we are looking at a minimum of 18 months and possibly 30 months for things to normalize - if they ever do
I seem to be running across a plethora of headlines reading "The Death of Capitalism"
I tend to agree with you as far as things being "normal" in the US for housing.. I doubt that much will change in Canada as our structure was already much different then theirs.
I think those who believe 18 to 30 months for this to stabilize might be at the extreme.. Yes I understand the logistics but I also see the new regulations and a push to stabilize those who can meet their housing payments being transfered into a more reasonable arrangement will soon be put forward. The collapse has to end and I am sure Obama will see the need to have it sooner then later. Requiring banks to transfer people into better accomodated loans is the best options.
Lets think about how many more Banks will want sub-valued properties so to flirt or even go into bankrupcy ?
I think an alternative will be much more appealing..
Honestly, I think people are making this out to be more than it is. The country has survived difficult times before, it will again.
I think we're going into a bit of a systemic correction, perhaps a mini industrial revolution and we're taking it on the chin for the time being. I believe Obama will be on the right track; a track that should've been started years ago. It might be painful for awhile, bridged by massive infructure investment. The next wave of long term growth of good paying jobs will come from energy independence. It's vital, because manufacturing won't be coming back. Those days are over.
I'm not sure I can agree with that- between a bunch of crooks and a bunch of morons we are in deep trouble. The crooks should be in jail and the key should be thrown away and the idiots should for ever be banned from EVER buying anything again unless with cold cash. A person should be made to demonstrate he/she has an I.Q. of at least 35 before being allowed any credit.
In my opinion it won't be over anytime soon. The fundamental problems are structural, and can't be fixed by employing trickle down principles, even if its a flood of money. Main street is broken from a structural point of view and when it is fixed it may look a lot different. Look for the failure of many / most centralized controlled corporate entities. These organizations will not be able to react to the speed of change on the ground as it gains momentum.The main change that will catch them napping is "market preference" as the consumer adopts thrift in a big way. Its already happening. Watch the media scream "buy buy buy" and no one is listening.
This will harken the rise of the small entrepreneur to fill in the gaps, provide product exchanges and create boutique enterprises where necessary. The box store, with its tight margins and logistically long supply chains full of homogenized goods is the dinosaur in this one.
Its already started.
This will harken the rise of the small entrepreneur to fill in the gaps, provide product exchanges and create boutique enterprises where necessary. The box store, with its tight margins and logistically long supply chains full of homogenized goods is the dinosaur in this one.
Its already started.