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Gold Regular Contributor
sheriff
Posts: 2,223
Registered: ‎06-01-2012
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household wealth increases to bubble levels

Household wealth has increased to within 1.8% of 2007 levels, due in part to rising home prices.  The economy is definitely getting better. 

 

http://finance.yahoo.com/news/household-wealth-increases-64-77-172821382.html?l=1

Gold Contributor
mediaguru
Posts: 1,815
Registered: ‎03-03-2011
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Re: household wealth increases to bubble levels


sheriff wrote:

The economy is definitely getting better. 


Umm, the economy is getting better because house prices are increasing?

 

Was it "getting better" in 2007?

 

This is like saying "Hey, look! More people will buy houses because houses are more expensive!"

 

Does anybody else see the fallacy in that?

Gold Super Contributor
norcalnative
Posts: 3,274
Registered: ‎05-04-2009
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Re: household wealth increases to bubble levels

Economy has been growing strong since mid to late 2008. Company earnings even back then were strong.

 

So nothing new there.............

 

The assumption that people saving more of their money means they will spend it is laughable as long as there is talk about the GOV wanting to take it from you so it can give it to someone else. LOL

Platinum Super Contributor
buyinghouse
Posts: 5,878
Registered: ‎04-23-2011
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Re: household wealth increases to bubble levels

  And now, some economists told Obama he blew it. The housing market needed "more help".

 

  I thought housing was the main element to be fixed in this recovering  economy?

Gold Regular Contributor
sheriff
Posts: 2,223
Registered: ‎06-01-2012

Re: household wealth increases to bubble levels

[ Edited ]

mediaguru wrote:

sheriff wrote:

The economy is definitely getting better. 


Umm, the economy is getting better because house prices are increasing?

 

Was it "getting better" in 2007?

 

This is like saying "Hey, look! More people will buy houses because houses are more expensive!"

 

Does anybody else see the fallacy in that?


The difference is people that are buying house that they can afford the payments on.  If that was the case in 2007-8 the recession would never have happened.

Platinum Super Contributor
buyinghouse
Posts: 5,878
Registered: ‎04-23-2011

Re: household wealth increases to bubble levels

   Don't forget the famous trip to some country to find those weapons of mass destruction....:smileyvery-happy:

Gold Super Contributor
norcalnative
Posts: 3,274
Registered: ‎05-04-2009
0

Re: household wealth increases to bubble levels

^ sadly we are still spending millions per day to help the poppy farmers in Afganistan. Oh wait I forgot about the oil pipe lines running across that country which are partially owned by various politically connected people here in the US.