Will there be another recession?

[Broncojohnny]

don't forget commercial real estate foreclosures

Not going to happen, we are almost to point where there is more money out there seeking to buy than there was before the crash. Any property that is of reasonable quality is usually snatched up at more than the loan amount, meaning the bank makes money on the deal.

[Broncojohnny]

As far as another recession goes, it won't happen in my opinion. The very best reason for that is that everyone is on guard for it to happen. Companies have cut costs and aren't hiring, banks have massive reserves to absorb losses, even your average person has socked away money in preparation for the shitty times to continue.

A fantastic indicator of when a situation has hit bottom is when more bad news comes out and no one even reacts because they expected it. That is where we are now. What is going to happen is that we are going be in this limbo of high unemployment and low consumer spending for a year or two. The unemployment numbers will slowly burn off and we'll be back to normal eventually but it is going to take time.

[Cannon88]

No one buy gas next Tuesday, problem solved.

[War Machine]

we're fucked, I better buy beans and ammo

[Saleen781]

Not going to happen, we are almost to point where there is more money out there seeking to buy than there was before the crash. Any property that is of reasonable quality is usually snatched up at more than the loan amount, meaning the bank makes money on the deal.

This. Commercial properties are bouncing back again. I work in the mtg secondary and read every day that the healthier banks have oodles of cash to loan but waiting for agencies to relax UW and repurchase policies. Some experts are predicting 2015 is when the real estate market will be back in full swing, but until then we will see pockets of improvement here and there, keeping the machine running until 2008-2011 is forgotten (in a sense). Even Citibank is starting to climb over $5 a share and that's a big sign of improvement given the global reach this bank has. that and they are starting to pay back TARP funds.

[Denny]

As far as another recession goes, it won't happen in my opinion. The very best reason for that is that everyone is on guard for it to happen. Companies have cut costs and aren't hiring, banks have massive reserves to absorb losses, even your average person has socked away money in preparation for the shitty times to continue.

A fantastic indicator of when a situation has hit bottom is when more bad news comes out and no one even reacts because they expected it. That is where we are now. What is going to happen is that we are going be in this limbo of high unemployment and low consumer spending for a year or two. The unemployment numbers will slowly burn off and we'll be back to normal eventually but it is going to take time.

I finally agree. We won't have another recession until we're AT LEAST out of our current depression.

[Sean88gt]

As far as another recession goes, it won't happen in my opinion. The very best reason for that is that everyone is on guard for it to happen. Companies have cut costs and aren't hiring, banks have massive reserves to absorb losses, even your average person has socked away money in preparation for the shitty times to continue.

A fantastic indicator of when a situation has hit bottom is when more bad news comes out and no one even reacts because they expected it. That is where we are now. What is going to happen is that we are going be in this limbo of high unemployment and low consumer spending for a year or two. The unemployment numbers will slowly burn off and we'll be back to normal eventually but it is going to take time.

You are correct. Watch the 'mood' during 2012. If Obama is against the ropes and it looks like a 'Reagan' is replacing the black-carter people will come out of their caves.

[SlowLX]

Gas prices are on the rise again. Last time, people that live pay check to pay check started missing their mortgage and credit card payments due to the gas prices eating up their current budget. Will be interesting since the oil companies are gouging us once again, what kind of affect it will have on the economy.

Any thoughts on the affect?

I thought people stopped paying their mortgages because they overextended themselves and bought baller ass houses that they couldn't afford? If they would have bought within their means then an extra 100-250 a month in fuel costs wouldn't be such a mother fucker.

[Sean88gt]

I thought people stopped paying their mortgages because they overextended themselves and bought baller ass houses that they couldn't afford? If they would have bought within their means then an extra 100-250 a month in fuel costs wouldn't be such a mother fucker.

Unless you lost substantial amounts of income.

[mr tinfoil hat]

We are in a depression. The MSM can spin it and call it what they like. The real unemployment numbers are above the 20% range. The "official numbers" are a joke that they give us. They can only mask this "recession" for so long. I think we aren't even near the worst part of it yet.

[SSMAN]

I thought people stopped paying their mortgages because they overextended themselves and bought baller ass houses that they couldn't afford? If they would have bought within their means then an extra 100-250 a month in fuel costs wouldn't be such a mother fucker.

You are correct. But it seems most people do this. Hence all the failed mortgages. Plus lets keep in mind the pay check to paycheck living that is going on.

I still think it was a cascading affect that started all this the first go around. Starting with the Oil Companies gouging us on oil prices. kind of like credit card debt. Starts out slow with, I will pay it off at the end of the month. Then something else pops up and you have to put something else on there. Before you know it you are in deep shit.

Got a guy at work that is having a hard time. (self inflicted) He makes the genius decision to skip one house payment ($1350.00/month) so he can get caught up. He was only about 500.00 in the hole. Now he is almost triple that in the hole. I give him about 90 days before he loses his house. He only makes about $35k/year.

[Denny]

We are in a depression. The MSM can spin it and call it what they like. The real unemployment numbers are above the 20% range. The "official numbers" are a joke that they give us. They can only mask this "recession" for so long. I think we aren't even near the worst part of it yet.

They can't hear you. LMFAO!!!

[mstng86]

Got a guy at work that is having a hard time. (self inflicted) He makes the genius decision to skip one house payment ($1350.00/month) so he can get caught up. He was only about 500.00 in the hole. Now he is almost triple that in the hole. I give him about 90 days before he loses his house. He only makes about $35k/year.

How does someone who makes $35k/year end up with a house with a monthly note of $1350.00/month? That is over half his take home pay for the month.

[SSMAN]

How does someone who makes $35k/year end up with a house with a monthly note of $1350.00/month? That is over half his take home pay for the month.

He was/is married and his good looking wife left his fat ass is what I would think. Sad thing is, I told him to buy a house based on a single income. He asked why? I said because your pretty wife is going to leave you. He has only been in it about 6 months.

[Broncojohnny]

I think we aren't even near the worst part of it yet.

And you base this on what? I base my opinion on actual data.