Just a quick post re: the market action of today;... link
"You're just seeing people cashing out. The biggest group in the index is financials - it's the second hardest hit; they're like taking whatever they can and selling it,"Is it concern about the credit bubble?
But analysts pointed out that the Shanghai market had been vastly overvalued.Oh, kinda like the Van. RE market.
It is actually encouraging in a way that China's having its bubble deflated now," said Gavin Graham, director of investments with Guardian Group of Funds.But how about deflation of the RE market here?
"What they don't want, with the Olympics in 16 months, is uncertainty and unhappiness anytime during 2008."Oh, jeezuss. The Olympics thing there too.
In other U.S. data, sales of existing homes rose in January by three per cent, but home prices declined for a sixth straight month.The ship is going down there, and it soon will here. It will be interesting to see what tomorrow brings. On a side note, none of my holdings lost a cent. I guess I am truly a contrarian investor. Ha! Ha! Told ya so. (Grin)
"I think what people are concerned about is that you might see it continue because it has been so overdone."But no concerns yet about the Vancouver RE market. It's pretty overdone, and the Olympics thing is sooo tired now. China may not want so many commodities now - the only other thing purportedly holding up our economy in BC.
I'm just sneaking this in while mother and child are snoozing, so please excuse my brevity.
I think that this could be the beginning of a global recession, or worse. What do you think?