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Tuesday, June 22nd, 2010 at 4:22 PM

Whitney on Double Dip

Posted on Tuesday, June 22nd, 2010 at 4:22 PM in Double Dip, Market Conditions, Thinking of Buying?, Thinking of Selling? | 9 Comments » | Print Print You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

Reader Comments: 9 Responses

  1. Note her frustration when she exclaims “people still debate whether there’s a double dip in housing!”

    Of course, we all know San Diego is immune. Or so we’ve been told.

    Chuck Ponzi | June 22nd, 2010 at 5:07 pm

  2. Wow, mainstream is starting to listen.

    I agree with everything Whitney stated.

    shadash | June 22nd, 2010 at 5:15 pm

  3. “(R)otting assets on bank balance sheets…”
    They are not on the balance sheets after the banks were allowed to avoid mark to market. That was the biggest kicking of the can the government did in this mess.

    Daniel | June 22nd, 2010 at 5:15 pm

  4. Hmm don’t know, once it becomes main stream then it is likely about over.

    OK to take a somewhat modified Contrarian view,

    I will agree that many sales were move forward into April by the Tax credit, and that will make the next few months slower than they would have been,

    But I would also think that the market will start to return after a few months, unless the state is not bailed out and they start laying off teachers, Police Firemen etc…

    If the State does not receive a bail out before the end of summer, all bets are off, and buckle up.

    Bobo | June 22nd, 2010 at 6:11 pm

  5. Bobo,

    Buckle up.

    Consultant | June 22nd, 2010 at 6:35 pm

  6. Gawd, she’s hot! ;-)

    common-sense | June 22nd, 2010 at 6:50 pm

  7. Bobo,

    If the Feds bail out the state, it’s game, set & match — we’re Greece. Do you prefer a bankrupt state or a bankrupt country?

    tj & the bear | June 22nd, 2010 at 9:19 pm

  8. Well, the states cannot run deficits–and the fed gov can. As long as the fed’s printing presses are going, the fed won’t go bk. Fed deficits in the short term are not the same issue as long-term deficits.

    But there’s no reason to believe that WA is riding to the states’ aid. The states will cut programs and hours/lay off workers/increase fees. Buckle up, indeed.

    chrisanthemama | June 22nd, 2010 at 9:44 pm

  9. What’s funny is that so many people think that the recession is behind us.

    IIRC, tj and I were talking about the govt-led portion of the downturn many years ago on the HBB. (cheers, tj!). ;)

    BTW, it’s not a matter of *if* we’ll see a govt-led downturn, but when. State workers are already being notified about actual pay cuts (as opposed to furloughs) and workers across the state (state and local) are going to be contributing much more to their retirements (in addition to pay cuts). This could result in a 10-25% effective cut in pay/benefits (possibly more in some cases), and we’ll probably see a potential 33% cut in retirement benefits.

    Hunker down…

    CA renter | June 24th, 2010 at 3:22 am

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