September 04, 2007
– Comments (3)
Read news of the shocking domino effect here.
CNBC had a piece the other day about ad revenue from mortgage companies drying up and hurting companies like Google. Apparently those, "GET $100,000 FOR $100/MONTH" ads accounted for a hefty chunk of online ads.
They also said the housing numbers that came out today were a shocker! I think they're may have been a 13% drop (not sure I caught it quick). But how could anyone be surprised, I'm surprised anyone bought a house. Screw the liqudity crunch. Housing is 6-9 months from crashing. I sold mine 6 months ago, moved into an apt and invested. Was pretty clear to see that personal income didn't support housing prices. Even a layman could figure out there is a problem when housing is doubling annually and income is only increasing nominally. The only legitimate buyers were buying with the profits from they're old house. The kid out of college was buying an instant, unaffordable forclosure. Back to the ads don't forget all the e-trade and credit card etc ads on every financial page. They're also mortgage linked. Web's like t.v. make 90% of revenue from ads. I would be very concerned holding $500 Google shares! Also be concerned about the credit card companies because the foreclosure rate has stayed low because everyone is blasting they're cards and that money isn't going to be recouped.
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