"The coming collapse"?

What do you think is likely in the next ten years?

  • Total or nearly total economic / societal collapse

    Votes: 9 28.1%

  • Collapse of housing market leading to recession or depression

    Votes: 6 18.8%

  • Anemic performance, growing but manageable unrest

    Votes: 10 31.3%

  • Healthy growth, happy society

    Votes: 7 21.9%
  • Total voters
    32
Status
Not open for further replies.
The infrastructure will be overcome by hordes of unskilled, non-english speaking underclass. They'll bring with them the criminal element that thrives in such an environment. Throw in mass murdering terrorists and a government that sees its citizens as more of a threat than foreign agents and there you go.
 
Collapse of housing market leading to recession or depression
Click to expand...

:D :D I peed my pants on this one. Everyone forget less than 10 years ago homes were worth 1/2 to 1/3 than they were today and some people were paying 12% to 14% on their mortgages. This was all during the so called great Clinton Economic boom. :D :D

The bubble has already burst and nothing happened. While some people will become house poor, most people were smart enough to get locked in on a fixed mortgage rate.
 
The next ten years?
I've only just finished the last ten...

My best guess is that by 2016 there will be a lot of people still denying global warming, still worrying that the sky is falling, still waiting for the other boot to drop, still waiting on the return of their imaginary friend Jesus, still spreading hate and intolerance, still moaning about the price of whatever fuel is now used and many, many people still shooting bits of paper with handguns every weekend.

I expect the price of cigarettes will go up too.

Other than that, it's wide open.
 
Everyone forget less than 10 years ago homes were worth 1/2 to 1/3 than they were today and some people were paying 12% to 14% on their mortgages. This was all during the so called great Clinton Economic boom.

The bubble has already burst and nothing happened. While some people will become house poor, most people were smart enough to get locked in on a fixed mortgage rate.
Click to expand...

The market has not "burst" yet. The spectacular runup in prices over the last five years is no more based in reality than the runup of tech/.com stocks. It has run out of momentum, and is being desperately propped up my a mortgage lending industry that's teetering on the brink of an abyss and the grossly-swollen swarm of realtors.

I firmly believe that the last few props are going to be washed away, and the market is going to take a dump. Very few people can actually afford houses in San Diego, as well as many other areas in california and across the nation. They financed houses they could never afford with mortgages like option ARMs that are going to see their payments jump considerably. I already know a couple of people who are trapped... they're underwater, their payments are dramatically increasing, and they can't sell even at a loss.

The Fed wanted to keep raising interest rates to fight off inflation, but have had to stop because of housing.
 
Status
Not open for further replies.
Back
Top