Stimulus Bill Passes, Stocks Rebound

[clayinaustin]

I am going to be positive here.I hate the bailout but the market tested the bottom yesterday as it has a few times since November.And it came back a little today.We might see a small rally by the end of the week may end up close to where we started.We will get through this and it won't be because of the government it will because of people like those on this board

I believe that markets like stability. As bad as this stimulus package seems to us, once it is finalized and passes the markets will rebound.

But I agree with everyone else here. Batten down the hatches. It's gonna be a bumpy ride!

P.S. I like boobs too!

 

[fund razor]

I believe that markets like stability. As bad as this stimulus package seems to us, once it is finalized and passes the markets will rebound.

Is that what the market is doing today? Rebounding?

Was 7,742 at 10am. I call that more testing of the bottom.

Is up slightly from this morning, but still down 130 from open.

 

[Tommy Gun]

Too bad Barry can't mimck the ideology of his idol...

 

[Mark]

:huh:

Um, why are some of you NOW saying "batten down the hatches?" What cave have you been living in with Bin Laden?? In my field (Real Estate and related businesses), we have been in the Sheet for almost 3.5 years! This is just (hopefully) the peak if the recession (2009). :leaving:

 

[fund razor]

:huh:

Um, why are some of you NOW saying "batten down the hatches?" What cave have you been living in with Bin Laden?? In my field (Real Estate and related businesses), we have been in the Sheet for almost 3.5 years! This is just (hopefully) the peak if the recession (2009). :leaving:

When I talked about it 3 and a half years ago I was called a henny penny and was told by people whose regions hadn't tanked yet that it was my "glass is half empty" view. I remember Dean and others telling me that I was nuts. But it got bad here (Ohio and Michigan) before it got bad other places. Now I am seeing maybe the bottom of the housing collapse in NW Ohio. Maybe.

I am sure that Mark is aware of this, but many people may not be aware of zillow.com. You can track and compare real estate prices by area, and see the 10 year estimated value history on any property. I have a property that bottomed out and has actually come up a little in Ohio. The city's average value seemed to stabilize in 2008, but then again... they weren't inflated when they started dropping in 2005/6.

I see that Detroit, however... is still dropping 10-12% a year. There is a $140k house across the street from my office that is losing 3k value per month.

 

[fund razor]

Five day:

 

[fund razor]

This year:

 

[tommymonza]

I went to court yesterday for my exwifes foreclosure hearing that she did not show up to but that is another long story.

There were 50 houses on the docket before me many in the half a million and above category.

She quit paying back in feb of 08 and still lives there payment and insurance and tax free.Ca.t beat that deal.

 

[fund razor]

There were 50 houses on the docket before me many in the half a million and above category.

I think that there are a heck of a lot more foreclosures in the half million and above category because they were the most inflated in value. You lose 20 percent equity in a million dollar house and that is 200k. Being 200k upside down in a one or two year value drop is a big, big problem.

Many less foreclosures in the 75k midwest starter house market.

 

[Mark]

When I talked about it 3 and a half years ago I was called a henny penny and was told by people whose regions hadn't tanked yet that it was my "glass is half empty" view. I remember Dean and others telling me that I was nuts. But it got bad here (Ohio and Michigan) before it got bad other places. Now I am seeing maybe the bottom of the housing collapse in NW Ohio. Maybe.

I am sure that Mark is aware of this, but many people may not be aware of zillow.com. You can track and compare real estate prices by area, and see the 10 year estimated value history on any property. I have a property that bottomed out and has actually come up a little in Ohio. The city's average value seemed to stabilize in 2008, but then again... they weren't inflated when they started dropping in 2005/6.

I see that Detroit, however... is still dropping 10-12% a year. There is a $140k house across the street from my office that is losing 3k value per month.

Yep. Dean and others were in denial. I remember those discussions well. Florida was / is one of the states at the forfront of the collapse. Obama even cited that Ft. Meyers had the worst forclosure rate in 2008. I was there for all of 2006 & 2007. Those years were not any better. SW Ohio is not rebounding at all yet.

As for zillow - mixed emotions. I've seen both good and bad from their #'s. Use with a bit of caution. I'm hopeful 2010 will be the beginning of coming off the bottom. It won't be 2009.

 

[MarylandMark]

As for zillow - mixed emotions. I've seen both good and bad from their #'s.

Agreed. It has interesting info to watch none the less. I use it some times to get my point across when people think their house is still worth what it was back in 2005.

 

[Tommy Gun]

Last night our local news reported gains in housing prices in several St. Louis communities ranging from 7 to 13% since 2006.

 

[fund razor]

As for zillow - mixed emotions. I've seen both good and bad from their #'s. Use with a bit of caution. I'm hopeful 2010 will be the beginning of coming off the bottom. It won't be 2009.

Agreed on zillow. My banker buddy says that it is usually within 10%. It is a nice tool, but it ain't no appraisal. Still kind of cool.

Now market is down 202 on the day.

 

[Tommy Gun]

CREE is up today....

 

[fund razor]

dow closed up on a late rally to 7,932.

Still down for the week, but up from yesterday.

 

[MarylandMark]

Fed: Recession has cut Americans' net worth by 22.7%

I'd LOVE to get down to only being down 22.7%......

I wanna as my old hot math teacher that use to tell me you can't take 0 from 0 how am I going so frickin broke?


(before rumors start- I'm not broke but I should add a yet on the end of that; not broke yet!)

 

[fund razor]

Fed: Recession has cut Americans' net worth by 22.7%

I'd LOVE to get down to only being down 22.7%......

I wanna as my old hot math teacher that use to tell me you can't take 0 from 0 how am I going so frickin broke?

Yeah... but you can borrow from any column?

 

[Expensive Date]

I remember Dean and others telling me that I was nuts.



Dean was right about oil he just missed the 6000 point market drop