Has recession in US postponed next purchase?

[NG1208]

Hey, if anyone panics over the economy and wants to dump a nice Explorer II or Air-King for a couple of hundred bucks, remember that I'm here for ya!!!

[Thurnau]

Is the USA really in a recession?
The housing market was a bubble. Mortgage companies where giving houses to people that weren't in a financial position to buy. Having less available homes in a city made property values high. Builders overbuilt homes because that is where the money was. The rates also were variable, and the interest rose causing people to lose their homes. It is more about supply and demand than a poor economy in my opinion.

My IRA is worth 50% more than it was 5 years ago.

[LDLemu4U]

Originally Posted by frostie

People from US can sell their rolex watches in Europe at really high prices. Here's an example the MSRP in the US for a GMT II C is 5950 $ and in Europe the price is 8721$.

Or in Canada C$7,900 !!!!

[dcash0615]

Originally Posted by nightshade

depends on you financial situation. as they say, the rich gets richer and the poor gets poorer! when the economy is bad, the rich takes advantage of the situation to get richer!! so i think buying rolexes will be a non issue or an advantage for the well to do. It's like shares. buy low, sell high.

Well said. It is times like these that you build wealth on peoples misfortunes. Hopefuly the downturn in consumer spending since no one can use their house as an ATM machine anymore, will cause the AD's to start selling Rolex at more of a discount.

In 12 to 18 months, I think it would be interesting to see the responses if we were to ask the question then whether or not we are in a recession.

[problmchylde]

Agree on what's been said on vintage rollies.They are quite immune to dips in the economy.

[BuffaloRolex]

Not postponing my purchases...

I plan on picking up a Bluesy in the next week or so...

[Randy]

Originally Posted by bran

Recession? That is a media thing. There is no recession. Real Estate market is not good in some areas. And as for a real estate mortagage problem that is only affecting 4% to 6% of homeowners and those are the ones who bought way to much house than their incomes would allow.

I don;t know about other's inestments, but mine made more on a percentage basis last year than 2005 and 2006 combined.

If the media is not careful they will talk us into a recession!

Jim Cramer announced on the Today show last week, qoute "We are in a recession" Everyone has own views!

[CPCC]

Well if Cramer said it, it has to be true!

[Tombstone]

I strongly agree with most of the prior postings, the U.S.A. is NOT in a recession period. In my State the unemployment rate is less than 3.5%. This housing issue is the result of multiple scams where people who should have NEVER qualified for a home were pushed, along in the name of greed (people selling loans for profit) to get what they could not afford. This was done with unrealistic loans (adjustable rate loans, interest only loans, and other impractical loan methods) that made the lender money but that at some point in time would bite the borrower in the A --. That time is now and those who could not afford a home in the first place are now loosing their homes due to inability to pay the mortgage and other factors. Merrill Lynch and others (unwisely) backed up some of these loans which are now loosing large amounts of money. Too bad for them they should have seen it coming. This to shall pass and in time all will be well. IMHO