Consumer Confidence Craters - Mercedes-Benz Forum

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post #1 of 27 (permalink) Old 02-24-2009, 08:08 PM Thread Starter
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Consumer Confidence Craters

!!! SUPERB JOB !!!

Quote:
Home Prices Continue to Post Record Declines - WSJ.com

The Conference Board reported Tuesday that its February consumer confidence index fell to a historic low for the survey, at a reading of 25.0, from the previous low of 37.7 seen in December. Economists had expected a far more modest decline, predicting the February index would come in at 35.5.

"Not only do consumers feel overall economic conditions have grown more dire, but just as disconcerting, they anticipate no improvement in conditions over the next six months," said Lynn Franco, who leads the private research group's Consumer Research Center.

The present situation index for February fell to 21.2 from January's 29.7,
while the expectations index declined to 27.5, from the prior month's 42.5.
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post #2 of 27 (permalink) Old 02-24-2009, 08:45 PM
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About the falling house prices: We have a long way to go here in Florida.

I do not remember anybody whining when house prices literally tripled in a few months here in central Florida in 2005. And now everybody is crying that house prices are falling. Yes, and they should keep falling until they reach pre-2005 levels, which were consistent with the buying potential and income of the prospective home buyers. We had very steady and relatively cheap home prices for years here until everything went insane in a matter of a few months.

Last edited by p100; 02-24-2009 at 08:55 PM.
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post #3 of 27 (permalink) Old 02-24-2009, 08:47 PM
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And we have the Former Administration to thank for it!!
post #4 of 27 (permalink) Old 02-24-2009, 09:15 PM
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Last edited by p100; 02-24-2009 at 09:17 PM.
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post #5 of 27 (permalink) Old 02-24-2009, 09:17 PM
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Re: Consumer Confidence Craters

Calamity, catastrophe, or conundrum?

"If spending money you don't have is the height of stupidity, borrowing money to give it away is the height of insanity." -- anon
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post #6 of 27 (permalink) Old 02-24-2009, 09:35 PM Thread Starter
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Quote:
Originally Posted by p100 View Post
About the falling house prices: We have a long way to go here in Florida.

I do not remember anybody whining when house prices literally tripled in a few months here in central Florida in 2005. And now everybody is crying that house prices are falling. Yes, and they should keep falling until they reach pre-2005 levels, which were consistent with the buying potential and income of the prospective home buyers. We had very steady and relatively cheap home prices for years here until everything went insane in a matter of a few months.
Think 1999 if we are lucky, otherwise 1997.
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post #7 of 27 (permalink) Old 02-24-2009, 10:01 PM
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Quote:
Originally Posted by p100 View Post
About the falling house prices: We have a long way to go here in Florida.

I do not remember anybody whining when house prices literally tripled in a few months here in central Florida in 2005. And now everybody is crying that house prices are falling. Yes, and they should keep falling until they reach pre-2005 levels, which were consistent with the buying potential and income of the prospective home buyers. We had very steady and relatively cheap home prices for years here until everything went insane in a matter of a few months.

I'm starting to see homes that will cash flow again here in Tampa. I'm still waiting patiently on the sidelines though, and like you said, we've got a way to go.
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post #8 of 27 (permalink) Old 02-25-2009, 12:19 PM
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Consumer confidence is not going to improve until corporations stop layoffs, 401Ks stop dissolving and they see results of the actions that starting to be put in play.

McBear,
Kentucky

Being smart is knowing the difference, in a sticky situation between a well delivered anecdote and a well delivered antidote - bear.
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post #9 of 27 (permalink) Old 02-25-2009, 12:25 PM Thread Starter
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Expectations CRATERed and that's what happens when a leader talks down the economy in order to pass a partisan stimulus package.
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post #10 of 27 (permalink) Old 02-25-2009, 12:58 PM
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Originally Posted by mlfun View Post
Expectations CRATERed and that's what happens when a leader talks down the economy in order to pass a partisan stimulus package.
Ah, no, that's what happens after eight years of economic mismanagement. Tell me, tho, what is your alternative suggestion? Happy talk? Myself, I am glad to have a president who actually talks to us like adults. The truth hurts. The truth is, you guys put the economy in the crapper, and now unemployment is going to go way up for a few years, and business investment is going to go way down. Now, give us all a nice piece of sugar coat for that, snook-ems.

Recall that earlier generations faced down fascism and communism not just with missiles and tanks, but with sturdy alliances and enduring convictions. They understood that our power alone cannot protect us, nor does it entitle us to do as we please. Instead, they knew that our power grows through its prudent use; our security emanates from the justness of our cause, the force of our example, the tempering qualities of humility and restraint.

-President Barack Obama, 1st Inaugural address
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