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UPS volumes and current/future state of US economy
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<blockquote data-quote="freeloader" data-source="post: 276122" data-attributes="member: 12163"><p>My prediction for 1Q08 is lower volume because that's the way its always been. The only upturn in volume for 1Q will be for Valentine's day.</p><p></p><p>Speaking of mortgages and foreclosures; remember that 10-15 year run where real estate just kept skyrocketing and interest rates kept dropping? Mortgage brokers made tons off people re-financing and cashing in on their equity. Real estate agents made tons off people upgrading to bigger houses. Mortgage brokers made even more when these buyers overspent and chose interest-only & adjustable rate mortgages. People could not resist the urge to either cash in their equity or over spend on a new home. Now it is coming back to haunt them and they cannot unload their property because the market is dry.</p><p></p><p>Anyways, my point is, if people hadn't went nuts with the re-fi's and the interest-only mortgages, they wouldn't be in this position now. I easily racked up over 100k of equity in my house in just a couple years when the real estate market peaked. I could have re-financed, cashed in my equity and went and bought a Hummer and took a cruise around the world but I didn't. Call me skeptical, but I just had a feeling if I did something like that it would come back and bite me later.</p><p></p><p>The current state of the real estate market is just a correction of the many years of double-digit growth. It was bound to slow down sooner or later.</p></blockquote><p></p>
[QUOTE="freeloader, post: 276122, member: 12163"] My prediction for 1Q08 is lower volume because that's the way its always been. The only upturn in volume for 1Q will be for Valentine's day. Speaking of mortgages and foreclosures; remember that 10-15 year run where real estate just kept skyrocketing and interest rates kept dropping? Mortgage brokers made tons off people re-financing and cashing in on their equity. Real estate agents made tons off people upgrading to bigger houses. Mortgage brokers made even more when these buyers overspent and chose interest-only & adjustable rate mortgages. People could not resist the urge to either cash in their equity or over spend on a new home. Now it is coming back to haunt them and they cannot unload their property because the market is dry. Anyways, my point is, if people hadn't went nuts with the re-fi's and the interest-only mortgages, they wouldn't be in this position now. I easily racked up over 100k of equity in my house in just a couple years when the real estate market peaked. I could have re-financed, cashed in my equity and went and bought a Hummer and took a cruise around the world but I didn't. Call me skeptical, but I just had a feeling if I did something like that it would come back and bite me later. The current state of the real estate market is just a correction of the many years of double-digit growth. It was bound to slow down sooner or later. [/QUOTE]
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