A time capsule of the greatest financial mania in the history of mankind, told in real-time by regular folks and patriots. May future generations better understand the madness of crowds, and how power and money corrupt.
The bubble has popped, and we are in full meltdown modeWelcome to hell Sacramento
Drop the prices another 30%-40% and I'll be interested.
Looks like all the makings of David Lereah's "soft landing".
yech. they're all butt-ugly
can you imagine owning a new home in these neighborhoods? I'd want to burn down the sales office
Wow! This is really a full-scale meltdown. Keep up the good work Keith.I better start saving my pennies in gold bullion for the coming recession
This is concrete proof of a bubble. The range is 22 to 31%. Like I said the bubble will pop a lot sooner than 2008-9-10.
Well.... if you can't sell your home, you certainly can't buy the next one!So if you want to sell your home in LA and go to Sacramento, Pheonix, Idaho, Oregon..... TOUGH because your home is dead in the water.... the effect the other places like Sacramento are dead in the water too!THE TRICKLE DOWN EFFECT IN FULL FORCE!!!! GREAT! Its about time!
hey keith....i hope this is true - the sacto meltdown brochures. you wouldn't photoshop your fellow bears now would you?
I love it!!!
If this is soft landing, can't wait till hard landing happens.Love it.
Ouch! I see those kind of prices on those size homes all the time... in Cleveland!
What is preventing buyers from purchasing homes????[Gordon is rooting for today's first-time buyers. Several have shown interest in her home, but none has made an offer.***"It wasn't because the people weren't interested, or because of the price," Gordon said, "it was qualifying" for the loan that held them back.***]http://www.sacbee.com/content/homes/re_news/story/14214351p-15040403c.htmlSome homeowners in sacramento still do not think that their homes are over priced. While their home state is about to implement a 40 year loan with no money down!
I think someone needs to dig deeper and find out exactly what these houses have been selling for recently. Also, what have previous promotions included and have extras been gutted from these new "sale" houses. This company is probably trying to convince the marginal buyer that the bubble has already popped... hey look at these reductions, come buy now.
The reason these homes are so cheap is this community is in the middle of nowwhere with NO commercial shopping around it. The two closest cities are Linda and Wheatland. Two hell holes. I think Linda is the Meth capital of the world.
If you were selling those in my neighborhood (Sonoma County, CA), they'd be purchased immediately.Those houses would go for a 110% increase here in Q4 2005 at least.You would laugh at what I was able to sell for $560K. (Marin County has us beat though.)
Buy The Shasta, get The Shafta.
Home builders stocks up today 2-22-06Name Last Chg Symbol N V R L P 782.30 +22.30 NVR WILLIAM LYON HOME 86.62 +0.92 WLS DOMINION HOMES IN 10.22 -0.02 DHOM COMSTOCK HOMEBUIL 9.60 +0.04 CHCI CENTEX CP 71.71 +2.28 CTX MERITAGE HOMES CO 62.04 +2.89 MTH HOVNANIAN ENT INC 48.84 +2.79 HOV TOLL BROTHERS INC 32.65 +1.88 TOL LENNAR CP CL A 61.13 +2.33 LEN PULTE HOMES, INC. 40.89 +2.16 PHM STANDARD PACIFIC 35.39 +1.09 SPF D R HORTON INC 36.69 +1.64 DHI BEAZER HOMES USA 67.06 +2.35 BZH ISHARE DJ R EST I 70.77 +0.76 IYR FREDDIE MAC 67.05 +0.99 FRE FANNIE MAE 55.76 +1.73 FNM SIMON PPTY GRP IN 84.64 +1.16 SPG CENTEX CP 71.71 +2.28 CTX KB HOME 70.35 +2.43 KBH M D C HOLDINGS 64.38 +2.17 MDC ECC CAP. CORP. 1.94 -0.04 ECR AMER HOME MTG INV 28.58 -0.23 AHM BROOKFIELD HOMES 51.22 +1.36 BHS
Not surprising. There was the one magazine article about Toll being undervalued, and another article this morning in the WSJ about the entire sector being undervalued.
Barrons (normally has a lot of negative articles) was bullish on TOLL and long term rates are starting to drift down again. I think these companies will see very little positive news in the coming year, however.
This same flyer has been floating around all of the "bubble" blogs...but it lists only CERTAIN LOTS in the development, not all of the houses in the development. How is that proof that the bubble has popped? I know you are all anxiously awaiting the pop, but let's be a little critical of any data, good or bad...
This ad was for real.I called the number and spoke with Karen of DR Horton. She said that a thousand people showed up to get the sale price.
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