Real Estate Bubbles and California’s Economic Growth, Part 2
March 13, 2010 - 10:05 pm
An economics presentation at Humboldt State University. Special guest lecturer Dr. Christopher Thornberg of Beacon Economics discusses the current housing bubble and its effects on California.
Duration : 0:7:58
[youtube YrWuZQ9770c]
March 13th, 2010 at 10:05 pm
this video is old, …
this video is old, from Nov 2006, before the bubble burst…the date of the lecture is at the beginning of the video.
March 13th, 2010 at 10:05 pm
this video is from …
this video is from Nov 2006, before the bubble burst.
March 13th, 2010 at 10:05 pm
he gave this talk …
he gave this talk in Nov 2006 — before the bubble burst!
March 13th, 2010 at 10:05 pm
never blame other …
never blame other for your stupidity. it’s all about you–on the way up (i am smart) and down (I am stupid)….it’s all made up.
March 13th, 2010 at 10:05 pm
DEATH TO GREENSPAN!
DEATH TO GREENSPAN!
March 13th, 2010 at 10:05 pm
“People don’t think …
“People don’t think…” So very true. At the peak, people are so SURE that prices will go up, they stop thinking, and stop analysing. They feel comfortable buying, because they can see that the crowd is buying, and the crowd must know what it is doing, Right? Wrong. The crowd is a mindless beast, bent on excess.
March 13th, 2010 at 10:05 pm
the bubble didn’t …
the bubble didn’t burst because people suddenly realized paying so much for a house was insane.ARMS reset,people with bad credit shaky income could not make payments FORECLOSED,at this point the party was OVER, banks lost liquidity and had to tightened credit,the artificial housing demand created by Easycredit dissapeared so prices had to fall.If no one foreclosed the bank would’ve kept lending and people borrowing,offcourse that is not feasible when you’re lending to anything that moves.
March 13th, 2010 at 10:05 pm
“Bubble are …
“Bubble are irrational markets. Asking a forecaster to tell you when a bubble is going to end is like asking a pshycologist what a crazy person is going to say next…”
X-D ROFL!!!
March 13th, 2010 at 10:05 pm
He’s talking mainly …
He’s talking mainly about real estate economic theory and using California house prices as an example.
March 13th, 2010 at 10:05 pm
Freaking zone codes …
Freaking zone codes and boards.
March 13th, 2010 at 10:05 pm
Boom then we have …
Boom then we have bust. Inflation gets too high u get high interest rates, which slows econmy and can bankrupt people and as a result a recession. Simple.
March 13th, 2010 at 10:05 pm
This is exactly …
This is exactly what I have been predicting! How can a 3 bed 2 bath home in So. Cal that was worth $250,000 in 1996 be worth $900,000 in 2006?? It just doesnt add up! There has to be a major correction with a family of young professionals making well over $100,000 a year can’t afford to buy a home within 40 miles of thier job due to inflated home prices!!
March 13th, 2010 at 10:05 pm
Well, it looks like …
Well, it looks like you’re alone in your opinion. Guess you’re smarter than everybody else.
March 13th, 2010 at 10:05 pm
I know …
I know neighborhoods with appreciation of more than 20% a year. Are you stupid or something? Only an idiot would buy any house and expect it to go up.
Obviously his guy’s video is aimed at dumb people and stupid college students.
March 13th, 2010 at 10:05 pm
He sure makes it …
He sure makes it seem like he knew what was going to happen before it did.
March 13th, 2010 at 10:05 pm
He’s an economist, …
He’s an economist, it’s his job to study what happened.
March 13th, 2010 at 10:05 pm
Spot on, if you …
Spot on, if you think he’s wrong buy now and see how your “investment” is doing next year.
March 13th, 2010 at 10:05 pm
This is all …
This is all deliberately manipulated by the Federal Reserve and Internation Central Banks.
Watch Money Masters and learn
March 13th, 2010 at 10:05 pm
It is funny. He …
It is funny. He says all of this after the fact. If he is such an expert in housing trends he would make a trillion dollars in 5 years.
March 13th, 2010 at 10:05 pm
really funny
really funny
March 13th, 2010 at 10:05 pm
I guess he didn’t …
I guess he didn’t make money of the recent boom and is off. LOL
March 13th, 2010 at 10:05 pm
I don’t even think …
I don’t even think what he was doing can be called endorsement. More like hallucinating. He had just flat out lost his marbles when he said that.
March 13th, 2010 at 10:05 pm
It was like saying …
It was like saying that it was better to sell your stocks in Marck of 2000.Hindsight is always 20/20 but he endorsed ARM’s at the worst time now they are 25 billion a month resettig at much Higher rates!
March 13th, 2010 at 10:05 pm
LOL, so true.
LOL, so true.
March 13th, 2010 at 10:05 pm
I am not going to …
I am not going to buy, waiting for the price to drop below 100k.