Not bad, the rally since last March's lows have been incredible. Now only 3000 more points to get back to where we were 2 1/2 years ago LOL
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March 6th 2009 price was 6626... today it is 11,005Comment -
I think selling short might be a good move the rest of the year. I think we are at a peak.
The economy is not that great.Comment -
When will gold peak?Comment -
put the rally cap on!Comment -
for sure a holding period right nowComment -
i sure hope your'e wrong, my 401 k has been gaining 4-6 hundred a day the last two weeks. need to keep it going.Originally posted by jjgoldComment -
give me one solid economic reason why the market is going up, up, up. it's a house of cards. amazing the evil wall street people are still getting rich no matter what state the economy is in.
JJ - if the end of April comes and goes without the housing credits being renewed, look the fukk out. can you short the entire market? housing is already down 4 straight months and if that credit goes, the housing market will go into free fall. but i'm a former college dropout degen gambler, what do i know?Comment -
Maybe I've been reading people swearing that every day for the last six months. I guess someday it may be right.Originally posted by jjgoldComment -
Originally posted by d2bets
pretty sure it is right every fukkin day for the 14 million people without jobsComment -
Dow just continues to go apeshit
every day the 401K is growing by leaps and boundsComment -
how many people are employed is not the sole indicator of our economic state, and yes you are a fukked up degen gamblerOriginally posted by statnerds
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Too bad my stock has gone down, not up with the recovering dow
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My 401k is back to normal, and even has a extra boost because of the down time.
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same here...better than 2007 levelsOriginally posted by onlòókerMy 401k is back to normal, and even has a extra boost because of the down time.Comment -
down a little today...but this market is going nowhere but UP
BTW, gotta like this when you get 2 checks every month from Canada (my wife gets a widow's pension)
1 CAD = 1.0012 USD...Canadian dollar is worth MORE than the US dollar right now.Comment -
Foreclosure rates surgeOriginally posted by OmgUrMomhow many people are employed is not the sole indicator of our economic state, and yes you are a fukked up degen gambler
Biggest jump in 5 years
Updated: Thursday, 15 Apr 2010, 4:56 AM MDT
Published : Thursday, 15 Apr 2010, 4:56 AM MDT
- ALEX VEIGA,AP Real Estate Writer
LOS ANGELES (AP) - A record number of U.S. homes were lost to foreclosure in the first three months of this year, a sign banks are starting to wade through the backlog of troubled home loans at a faster pace, according to a new report.
RealtyTrac Inc. said Thursday that the number of U.S. homes taken over by banks jumped 35 percent in the first quarter from a year ago. In addition, households facing foreclosure grew 16 percent in the same period and 7 percent from the last three months of 2009.
More homes were taken over by banks and scheduled for a foreclosure sale than in any quarter going back to at least January 2005, when RealtyTrac began reporting the data, the firm said.
"We're right now on pace to see more than 1 million bank repossessions this year," said Rick Sharga, a RealtyTrac senior vice president.
Foreclosures began to ease last year as banks came under pressure from the Obama administration to modify home loans for troubled borrowers. (READ: Bank is forced to lose money on property, getting back much less than was financed) In addition, some states enacted foreclosure moratoriums in hopes of giving homeowners behind in payments time to catch up. And in many cases, banks have had trouble coping with how to handle the glut of problem loans.
These factors have helped slow the pace of foreclosures, but now that trend appears to be reversing.
"We're finally seeing the banks start to process the inventory that has been in foreclosure, but delayed in processing," Sharga said. "We expect the pace to accelerate as the year goes on."
In all, more than 900,000 households, or one in every 138 homes, received a foreclosure-related notice, RealtyTrac said. The firm based in Irvine, Calif., tracks notices for defaults, scheduled home auctions and home repossessions.
Homeowners continue to fall behind on payments because they've lost their job or seen their mortgage payment rise due to an interest-rate reset. Many are unable to refinance because they now owe more on their loan than their home is worth.
The Obama administration's $75 billion foreclosure prevention program has only been able to help a small fraction of troubled homeowners.
About 231,000 homeowners have completed loan modifications as part of the Obama administration's flagship foreclosure prevention program through March. That's about 21 percent of the 1.2 million borrowers who began the program over the past year.
But another 158,000 homeowners who signed up have dropped out — either because they didn't make payments or failed to return the necessary documents. That's up from about 90,000 just a month earlier.
Last month, the administration expanded the program, launching a plan to reduce the amount some troubled borrowers owe on their home loans and give jobless homeowners a temporary break. But the details of those programs are expected to take months to work out.
The states with the highest foreclosure rates in the first quarter were Nevada, Arizona, Florida and California, with Nevada leading the pack, RealtyTrac said.
Rising home prices and speculation fueled a wave of home construction there during the housing boom. But now the state, particularly around the Las Vegas metropolitan area, is saddled with a glut of unsold homes.
Still, the number of homes in Nevada that received a foreclosure filing dropped 16 percent from the first quarter last year.
All told, one in every 33 homes in Nevada was facing foreclosure, more than four times the national average, RealtyTrac said.
Foreclosure filings rose on an annual and quarterly basis in Arizona, however.
One in every 49 homes there received a foreclosure-related notice during the quarter.
Florida, meanwhile, posted the third-highest foreclosure rate with one out of every 57 properties receiving a foreclosure filing.
California accounted for the biggest slice overall of homes facing foreclosure — roughly 23 percent of the nation's total. One in every 62 properties received a foreclosure filing in the first quarter.
and yet the dow goes up?
need more?Comment -
I seen that the dollar is worth what Canada's dollar is worth.Comment -
Economist Robert Shiller: Is a Double Dip in Housing Ahead?
By Charlie Rose
The Case-Shiller Home Price Index, a respected measure of housing prices across the country, shows a slight improvement for the month of January. However, housing starts are sluggish, delinquencies are up, the foreclosure level remains troubling, and the National Association of Realtors just reported a drop in sales of existing homes. On Mar. 31, the day after the most recent Case-Shiller numbers were released, I talked with Bob Shiller, the Arthur Okun Professor of Economics at Yale and co-creator of the index.
CHARLIE ROSE
The S&P Case-Shiller Index for January saw upticks in 12 major metropolitan markets. Is that an encouraging sign for the housing market?
ROBERT SHILLER
The fact that [prices] are up on a seasonally adjusted basis, although the market has been weakening, is definitely encouraging.
You said on Bloomberg Television yesterday that there is a 50-50 chance of a double dip in housing.
I am really going out on a limb to say it's as high as 50-50. Double dips are rare. You know, I have a forecasting model that I used to use years ago when we were doing forecasts for The Wall Street Journal in the late 1990s, and that model emphasized momentum before anything else. When prices go up, they tend to go up for years. That's history. Whereas if they start going down, they'll go down for years. We saw home prices decline between 2006 and 2009—three years of decline. And now that [the market is trending] up, you know, it's perfectly plausible to think we'll have three years or more of increases. But I'm not so sure. We don't know how much of this is transitory because of the government support. We're in such an unusual economy now that [a double dip] has substantial probability.
You've said that 90% of the housing market is supported by the government.
Well, it's 80% or 90%. Really almost the whole market now is government. And we know this can't last.
And that means prices are being artificially inflated?
It seems to. Government support is especially prominent in sales of existing homes, which shot up to over 6 million on an annual rate in November 2009, the month that the home buyer tax credit initially was supposed to expire.
Do we need another stimulus?
I think we may. Our latest GDP growth number was phenomenal. Things seem to be coming back. But I'm worried about a double dip. And I worry that the political support for another stimulus may not be there.
and yet, the dow goes up?
time for one or two more?Comment -
it isn't our money, we are fukkin broke, why else would:
China questions costs of U.S. healthcare reform
It looks like the American people are not the only ones asking the obama administration how much the healthcare bill is going to cost. China want to know the answer too. After all they are the ones footing the bill!
Reuters: Guess what? It turns out the Chinese are kind of curious about how President Barack Obama’s healthcare reform plans would impact America’s huge fiscal deficit. Government officials are using his Asian trip as an opportunity to ask the White House questions. Detailed questions.
Boilerplate assurances that America won’t default on its debt or inflate the shortfall away are apparently not cutting it. Nor should they, when one owns nearly $2 trillion in assets denominated in the currency of a country about to double its national debt over the next decade.
Nothing happening in Washington today should give Beijing any comfort or confidence about what may happen tomorrow. Healthcare reform was originally promoted as a way to “bend the curve” on escalating entitlement costs, the major part of which is financing Medicare and Medicaid. That is looking more and more like an overpromised deliverable.
For instance, a new study from the U.S. government’s Centers for Medicare and Medicaid Services finds that the healthcare reform bill recently passed in the House of Representatives would increase healthcare spending to 21.3 percent of GDP by 2019 compared with 20.8 percent under current law. That’s bending the curve the wrong way. The study also questions the “long-term viability” of the $500 billion in Medicare cuts meant to help pay for expanded insurance coverage.
In addition, the CMS study gives a clearer cost estimate than the one provided by the Congressional Budget Office. According to the CBO, the 10-year cost of PelosiCare is $894 billion. But that analysis includes early years with little government spending, According to the CMS, the House approach would cost $1 trillion from 2013-2019, or some $140 billion a year when fully put into effect.
Few realists in Washington think any of the current reform plans make a significant dent in the long-term healthcare cost to government. Indeed, the Senate Budget Committee recently held hearing about creating a bipartisan commission to find solutions to America’s entitlements problems.
If healthcare reform really bent the curve, there would be a no need for such a commission to do Healthcare Reform 2.0.
The Chinese might want to keep up the questioning.
and yet the dow goes up as the house of cards shakes.
pigs get slaughtered, is all i'm saying.
how do you not see this coming?Comment -
Is the market on a comeback from the good?Comment -
nothing? no one? record high deficits, a trillion dollar healthcare reform (and that is when it comes in on budget, like every other government program ever), higher taxes.
what do you think is going to happen when foreclosures are near an all time high and the housing credit expires at the end of this month?
my bad, forgot unemployment and housing market have zero relevance to the state of the economy.
in fact unemployment is so meaningless obama created a category that never existed and is impossible to define....jobs saved.
gl with that stock market thing.Comment -
My 401K has gone up 4300 bux since march 23rd...auto pilot to the moon.Comment -
Ya, Im loving the stock market myself now!! Hated it awhile ago, but Im way ahead now.
As of 04/14/2010:
Total account balance: $37,246.45
MFS GROWTH ALLOCATION FUND-R435.00% MASS INVESTORS GROWTH STK FD-R425.00% MFS RESEARCH INTERNAT'L FUND-R425.00% RIDGEWORTH MCAP VAL EQ-I15.00% Total:100.00%Men get fifty dollars for a sperm donation. I've got a towel at home thats worth $250,000. It's leaning up against the wall in my bedroomComment -
Gotta really stop listening to the media and other asswipes out there, Since March 2009, this market has been as good as it has EVER been. Sick how much cash was likely on the sidelines.Comment -
this asswipe is still waiting for one of you to provide at least one logical answer based in sound economic reasoning. all i keep hearing is sky is the limit while you ignore reality. i'm thrilled you made your money back, truly i am.Originally posted by Brock Landers
give me just one reason the market is doing so well, please.Comment -
GUYS and GIRLS,
Be careful.This is going to take awhile.
Take small steps.Comment -
I'm planning to shift the profits to bonds in my 401K. It will come back down again.Comment -
Originally posted by Brock Landers
how is that auto pilot working out?Comment -
man, you should be pissed at the media and the asswipes that told you how awesome the economy is how massive a jobless recovery we are in.Originally posted by Brock Landers
i can't believe the economy ground to a halt after the housing credit and cash for clunkers expired. it is almost as if it was all smoke and mirrors. but you smart fellars would never fall for that, right?
at least be a man about it...Comment -
Economy is in serious trouble
Obama is a fraud, he conned America that everything was getting better
Massive unemploymentComment
