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news · Joined: 14 Jul 2007 Posts: 0 Location: Greater Boston

Use this forum thread to discuss the following link.

Description: Arlington Artifice: Nov 2008 - Lowest sales since 1990, median continues decline, MCAS scores call into question presumption of superior school system
URL: http://paper-money.blogspot.com/2008/12/arlington-artifice-november-2008.html?re ...truncated...
Info/Broken?: http://www.bostonbubble.com/link_info.php?id=2108

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BelmontRenter · Joined: 29 Dec 2008 Posts: 52

As far as I can tell, the referenced Boston Globe article was published in October 2007. I have no idea why that blogger refers to the article as "recent."

admin · Posted: Tue Jan 06, 2009 7:42 pm GMT Post subject: Re: News??

john p · Joined: 10 Mar 2006 Posts: 1820

I'd imagine you've got more respect for the likes of say a Karl Case. Even though he was wrong, he identified three benchmarks that have indicated a bottom in the prior cycles. He wasn't so much an expert on the broader economy so I'm sure he didn't see the magnitude of the tsunami of the credit meltdown.

On the one hand people try to contain the subject matter to just housing, but it was contributing factors outside of the housing market that are causing this situation. I think Karl Case did put the qualification in that if there was a recession all bets were off. Real Estate market experts don't typically have deep understanding of macro economics. All those people that say "What's that got to do with the housing market" ought to understand now that a broader view is essential to understanding the environment surrounding the housing market. I mean the Middle East is erupting, the Russians are rattling their sabers, we've got a massive debt and they're proposing trillions of new spending and potential incentives like super low mortgage rates, we've got unemployment numbers not seen since the early 80's, failing banks, failing Big 3 Auto, we've got a babyboom retiring and failing infrastructure, and potentially an increase in Afghanistan. It is kind of mind numbing, so I wonder who is an "expert" today.

I think all these forces will set a constant global temperature. Certain currencies will cool off and others will heat up to find equilibrium. Because the US Dollar is a common medium of exchange, I see a devaluing of the Dollar with the increased spending and stimulus. I am curious to see how other nations try to manipulate their currency especially among the Eurozone. The Arabs and Russians have oil so they're manipulating their currency (oil) by controlling production.

I got the impression that the Arlington article was a puff piece too, but in context it wasn't dropping like a rock. I think at the time real estate groups were most likely trying to lobby the media and this is one that got by the goalie. This blogger pretty much put the writer in the penalty box to feel shame.

admin · Posted: Tue Jan 06, 2009 11:31 pm GMT Post subject:

BelmontRenter · Joined: 29 Dec 2008 Posts: 52

balor123 · Joined: 08 Mar 2008 Posts: 1204

Living below your means, when it comes to housing, in the Boston area isn't easy, especially if you are young. We get so much less for the same percentage of our money than most Americans get. We are particularly disadvantaged because our housing stock is so much older than is found in other cities.