1st Quarter GDP lowest in 3 years

[ThunderKiss1965]

GDP Grew Just 0.7 Percent In First Quarter Of 2017

"The U.S. economy grew at just a 0.7 percent annual rate in the first quarter of this year, according to the latest report on the gross domestic product from the Commerce Department. That's below market expectations and indicates the economy grew at the slowest pace in three years.

Weak auto sales and lower home-heating bills dragged down consumer spending, offsetting a pickup in investment led by housing and oil drilling. Employment costs rose 0.8 percent in the first quarter."

Remember when numbers better than this were supposed to prove that Obama was a failure?

So Trump is a .......?

Remember the entire 8 years under Obama it was never his economy but BUSH"S(unless it was something positive). How about we wait until at least the end of the fiscal year before blaming the current administration.

 

[JakeStarkey]

LL, you voted for all the wrong people. We you have switched over to Trump or voted for Clinton, I don't care for you. Obama was a success much of the time, and the economy was one of those successes, LL. Sorry you are bitter.

 

[NYcarbineer]

GDP Grew Just 0.7 Percent In First Quarter Of 2017

"The U.S. economy grew at just a 0.7 percent annual rate in the first quarter of this year, according to the latest report on the gross domestic product from the Commerce Department. That's below market expectations and indicates the economy grew at the slowest pace in three years.

Weak auto sales and lower home-heating bills dragged down consumer spending, offsetting a pickup in investment led by housing and oil drilling. Employment costs rose 0.8 percent in the first quarter."

Remember when numbers better than this were supposed to prove that Obama was a failure?

So Trump is a .......?

Remember the entire 8 years under Obama it was never his economy but BUSH"S(unless it was something positive). How about we wait until at least the end of the fiscal year before blaming the current administration.

If you'll then agree that the deficit for FY 2009 all belongs to Bush.

 

[JakeStarkey]

ThunderKiss, call or fold.

 

[leftwinger]

If you'll then agree that the deficit for FY 2009 all belongs to Bush.

Partisan nonsense. It belongs to you and your kids and taxpayers. When the FED can't print anymore, if economy is not improving......your wealth will go down. Your earned SS ........... could take a big hit. They won't suffer, you will.

We also have to deal with the $4.5T- FED printing which occured last 9 years. I don't know what it means? But it can't be good.

jake...you have egg mcmuffin on your face.

 

[LoneLaugher]

LL, you voted for all the wrong people. We you have switched over to Trump or voted for Clinton, I don't care for you. Obama was a success much of the time, and the economy was one of those successes, LL. Sorry you are bitter.

What? Try that again.

 

[leftwinger]

Carbine runs off like a scalded cat when his spew fails.

 

[TheDude]

Rising interest rates might be a major factor. About time they raised them too. Low as **** interest rates have been a smoke screen for an economy that has truly never recovered from the recession. Just a fact and doesn't require an economist to recognize. The longer we practice an artificial economy, the longer a true correction will be. ........................As for a real housing crash perspective:

Historically reasonable home loan rates is approx. 7.5. My first place was 10.1% when rates were running 13-14%.
Our rates dropped to what, 3%? I have a 3% on my place.

Don't know about your area, but the fall on the west coast was approx. 50% or more of peak. Let's say from 400K to 200K, for example:

200K @ 3% is $800 per month.
200K @ 7.5% is $1398 per month.

What I'm saying is, under historically reasonable interest rates, you didn't lose 50% value. More like 72% (from 400K to 114K (GULP!)), because it's about the monthly payment for most of us. Make sense?

 

[leftwinger]

Rising interest rates might be a major factor. About time they raised them too. Low as **** interest rates have been a smoke screen for an economy that has truly never recovered from the recession. Just a fact and doesn't require an economist to recognize. The longer we practice an artificial economy, the longer a true correction will be. ........................As for a real housing crash perspective:

Historically reasonable home loan rates is approx. 7.5. My first place was 10.1% when rates were running 13-14%.
Our rates dropped to what, 3%? I have a 3% on my place.

Don't know about your area, but the fall on the west coast was approx. 50% or more of peak. Let's say from 400K to 200K, for example:

200K @ 3% is $800 per month.
200K @ 7.5% is $1398 per month.

What I'm saying is, under historically reasonable interest rates, you didn't lose 50% value. More like 72% (from 400K to 114K (GULP!)), because it's about the monthly payment for most of us. Make sense?

Home value has come back in many west coast areas. When rates rise, the buying pool shrinks? Values decline again? The higher interest paid is a Fed schedule A deduction......so 30% is "free"? So complicated........to know what to do? are we at top of another "bubble" already?

Should you stay or should you go? Find cheaper location or even cheaper State?

 

[TheDude]

Rising interest rates might be a major factor. About time they raised them too. Low as **** interest rates have been a smoke screen for an economy that has truly never recovered from the recession. Just a fact and doesn't require an economist to recognize. The longer we practice an artificial economy, the longer a true correction will be. ........................As for a real housing crash perspective:

Historically reasonable home loan rates is approx. 7.5. My first place was 10.1% when rates were running 13-14%.
Our rates dropped to what, 3%? I have a 3% on my place.

Don't know about your area, but the fall on the west coast was approx. 50% or more of peak. Let's say from 400K to 200K, for example:

200K @ 3% is $800 per month.
200K @ 7.5% is $1398 per month.

What I'm saying is, under historically reasonable interest rates, you didn't lose 50% value. More like 72% (from 400K to 114K (GULP!)), because it's about the monthly payment for most of us. Make sense?

Home value has come back in many west coast areas. When rates rise, the buying pool shrinks? Values decline again? The higher interest paid is a Fed schedule A deduction......so 30% is "free"? So complicated........to know what to do? are we at top of another "bubble" already?

Should you stay or should you go? Find cheaper location or even cheaper State?

Home value has come back in many west coast areas. When rates rise, the buying pool shrinks? Interest rate is a MAJOR factor on whether or not the common man can a afford a home. The fact home values have come back to peak (technically only 75% at my place, because it's bigger than modest (again, affordability))........is DIRECTLY because interest rates are so low. If interest rates were say 7.5%, a reasonable rate, then bet your (*^) the market value on my $450K place is somewhere around 350-375, without doing the math.

Values decline again? Since rates have raised I've seen a reduction on my place, so yeah. Another note about "modest Vs not so modest" value today. A modest home in my area has doubled or more since the floor. A not so modest home only 75%ish. Fact is, people have taken a real hit where median household income is concerned. For my money, there's nothing a Trump admin. or anyone else can do about it. This is what happens in a global, tech. economy with too many people, with the gates opened for immigration, illegal or not.

The higher interest paid is a Fed schedule A deduction......so 30% is "free"? I don't understand.

So complicated........to know what to do? are we at top of another "bubble" already? IMO yes, or a bit down from because of the rise in rates. But if you're thinking about buying a home, I don't know we'll see a major drop. I can say our "bubble" is another fabrication. If I were starting out, I'd judge on how much I'm willing to fork over for a mortgage without being strapped. I can also say that historically (emphasis on historic, we may be an entirely different economy), if you rent instead of buy, then you're going to be left behind in the game. A good example is my monthly, which is $720 including tax & insurance. In my area, that gets you a one bedroom apt. That and because I've mortgaged since 1984, I have a lot of equity despite a modest living. Really, the place is nearly paid for. Many thanks to low interest rates, because I played the game........ Rent gets you no equity. Do the math.

Should you stay or should you go? Find cheaper location or even cheaper State? Funny you should mention it. I see beautiful homes in places like Georgia, which are half the price my place. Shit, nothing like owning your place outright plus a nest egg for relocating.

In hindsight (applies to most of us), I'd have sold my place at peak (550-580), RENTED for 3-4 years till the floor, and then bought three homes like my last place, and sell them today. That idea would have banked 700K. That's what separates the wealthy from us commoners. They have the cash, balls and maybe foresight to have earned billions.



Everyone has an opinion, but this is the first thing that popped up after a search: The seeds of the next housing crisis have already been planted