South Korea ppl scare and won’t go out themselves. But in US . School shutdown means vacation for family. Ppl here are idiots. Without really enforcing I don’t see how ppl here will behave by themselves
They should keep the kids over14 in school 24-7. If they are not in school they will be out terrorizing neighborhoods Their parents won’t be around to take care of them.
Society has been turned on its head. Law abiding old people will be locked in their homes. Meanwhile the lawless will roam the streets. Gangs, homeless, druggies and criminals… they don’t care about self quarantines. Meanwhile a huge amount of people will become unemployed with nothing to do but turn to crime
Mr. Doom finally showed up.
You have your guns and ammo ready?
Time to apply for HELOC, max out the line and put into savings account?
Goldman Sachs Predicts U.S. GDP to Shrink 5% in Second Quarter
The world’s largest economy will shrink 5% in the second quarter after zero gross domestic product growth in the first three months of the year, the firm’s economists wrote in a note Sunday. They cut their full-year forecast to 0.4% growth from 1.2% on expectations for growth of 3% and 4% in the third and fourth quarters and strong gains in early 2021.
I think once it’s over in a few months, foreign money will come back here and make the RE even stronger. Remember when the bubble burst in 2000, RE slowed for few months and went out until the collapse in 2008
Why do you think will be over in a few months?
The only thing I can think of is some1 got wind of the outcome of those clinical phase 3 trials is highly favorable.
Do you think is going to be seasonal? That is come back again next winter.
Given today’s interconnected world, it is highly probable that this could be the fifth permanent human coronavirus.
Historically we knew once over stock and RE yield extraordinary gain, the billion dollar question is when is the bottom?
Now that we are increasingly adopting the brute force Chinese model instead of smarter Korean and Taiwanese model, there may be lessons to learn from China’s economic data. Short summary: not good very bad.
Loaded. Still can’t rid of your prejudice
Do you seriously think the approach by tiny Taiwan and Korea can work for large nations like China and USA?
Going forward, either Xi manages to revive China economy or CCP toppled by the starving Chinese. @manch may wish for the latter outcome but I think HK is better off with former outcome.
Don’t see how country size has anything to do with response policies. The key factors are seriousness of government officials and timeliness and scope of testing. US failed miserably on both. So I am willing to accept that draconian measures may be the only way out at this point in time. But it will be extremely costly. There is no doubt about it.
The stock market crash will drag down housing market. I was making the argument at the beginning of the year how a buoying stock market will lift housing prices. Now that stocks are in the toilet we will see the opposite effect. Home prices will go lower. The upcoming recession will be very sharp. Hopefully it will be short too like many people predicted.
So you’re serious I will adopt @Jil attitude that debating is a waste of time
For BARE, house prices have been trending down since mid 2018, we have a short DCB from Aug 2019, now resuming downtrend, no big deal. My initial guess is the bottom is the trough in 2017 i.e. about 15-20% from here, about 28-30% from peak in mid 2018. Since we are not selling, it doesn’t mean much except if you’re thinking of cash re-fi
I think if the ppl on this board are able to survive this alive, we’ll be buying , right?
I bought Ruger stock today. Good in a bear market. Plus if it looks like Biden will win it will skyrocket. Just like it did when Obama won.
Trump should just shut the eff up.
Seriously that July-Aug statement took the DOW down another 600 points.
And he doesn’t know anything to make that comment. Just shooting from the hip. Why August? Nobody ever mentioned August.
More lockdowns. Depression coming.
Thoughts here? County offices are closed as if tomorrow, Santa Clara County Recorders office is closed. What’s going to happen to Bay Area refis and purchases when the recorders offices are closed? How are loan officers and re agents going to get paid on closings that should be coming up???