Quote:
Originally Posted by Claeren
That is what I am here for! lol
Cue the 'NOW it is market bottom and time to buy' talk!
As I have said a few times now, volatility rules the day right now (just like during almost the entire depression, where records were set both in losses AND gains) so I am sure the markets will keep bouncing up and down. Just don't get tricked by those 'ups'. The thing that makes me nervous is that 9-of-10 friends who invest right now all think the same thing, 'the market has hit bottom so buy-buy-buy', and that was at a ~8300-DOW! When most people who actually invest are all invested because they think 'it has to go up' it seems to me we are set to keep falling because it never 'has to go up'. If anything, i see a lot of amateurs out there getting hammered while the big boys sell off their positions all the way down....
On a side note though to the Real Estate discussion in the other thread, as I had predicted Calgary home sales have hit a wall and this months numbers are looking worse and worse each day. We are talking outright BAD numbers for home owners, not just a bit depressing....
Claeren.
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The Real Estate market in calgary is beyond BAD... I don't know where it's gonna stop either. Seems to me with so many people in negative positions when it comes to home values VS Mortgage + HELOC, as long as they still have a job things stay on a slow downward pace (by slow I mean relative to a crash). If a big layoff comes anywhere close to the city, I think thats the straw thats gonna break the back of the market and we'll see the "Crash" when foreclosures appear on the market.
The question is when do we see Layoffs downtown?