March 07, 2006

What will be the enduring symbols of the bubble?



When I first saw this one, I knew it was over. O.V.E.R.

Any other ones come to mind?

Posted by blogger at 3/07/2006

7 comments:

Marinite said...

When I first saw this I puked all over my keyboard. Thanks HP.

March 07, 2006 11:17 PM
Anonymous said...

You should see the neighborhood where it's being built. Located in Naked City, the worst, crime-riddled area of Las Vegas, north of the Strip. Remember the Mexican gardener with the 700 sq ft house holding out for million dollar offers?

Anyways, I heard it got scrapped with a bunch of other condo projects. RIP...

March 08, 2006 12:32 AM
Anonymous said...

U.S. housing overvalued by about 20%, Goldman Sachs says

By Rex Nutting
Last Update: 6:18 PM ET Mar 7, 2006


WASHINGTON (MarketWatch) -- U.S. housing is overvalued by about 20%, based on historic relationships between monthly mortgage payments and median household incomes, Goldman Sachs chief economist Jan Hatzius said Tuesday. "This overvaluation could eventually be unwound via a period of unchanged home prices with incomes rising," Hatzius said. Or it could be unwound by prices plunging, or interest rates falling enough to make houses affordable. Hatzius found considerable regional variation, with housing in California and other hot markets overvalued by as much as 30% to 40%, while homes are fairly valued in much of the rest of the country, including Atlanta, Texas and Cleveland. The deterioration in housing is one reason Goldman predicts the Federal Reserve will stop raising rates at 5%.

http://www.marketwatch.com/News/Story/Story.aspx?guid=%7B32626674%2DA507%2D4A92%2DB929%2DFF54FB380A86%7D&siteid=mktw

March 08, 2006 3:02 AM
Anonymous said...

anytime its a celebrity offering its doomed to fail.

Like the Michael Jordan condos

March 08, 2006 7:21 AM
Anonymous said...

5 months ago I went to a time-share sales pitch in Las Vegas . They wanted 35 thousand for two weeks a years for a tiny condo off the strip . The catch is also 700 a month in Homeowners per unit . I figured it out that they were going to get over a million per 350 sq foot condo ,( no kitchen mind you ,just a bed, bath , and wet bar ) A thought occurred to me however , that is , its easy to get a hotel room for 100 buck for two weeks in Vegas . The response from the high-pressure salesman was that Vegas rents were going to go up .

March 08, 2006 2:02 PM
Anonymous said...

las vegas will be delt a major blow.for years all we ever heard was vegas is bullet proof when it comes to economic slow downs.there are so many card tables,restaurant tables,stripper poles ect. even the hookers are complaining. wages have been stagnent or falling for tipped employees for about five years with the cost of living rising.
look out below.

March 08, 2006 2:28 PM
Rob Dawg said...

"I used to be a Las Vegas Realtor®... Now I'm a Private Party Hostess®." {giggle, giggle} "Wanna invest in some inflationary assets?" {giggle, giggle} "I know, you must be one of those guys that expects a Soft Landing. That's extra, you'll have to talk to my Broker®." {giggle, giggle} "Wanna go back to my place and go over some escrow papers?" {giggle, giggle} "act now before the price goes up."

March 08, 2006 10:24 PM

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