April 24, 2006

HousingPanic declares all out war on UK's FirstRung - Join the new American Revolution!


I'm asking HP'ers to help me fight back. Go post on their message board - new bubble topics, with housing bubble stories, or respond to the current posts

This biased company makes commissions selling mortgages to "the last suckers in". They are trying to come off all high and mighty, the standard "we're on your side" approach. Tough to do when:

"Firstrung represents the leading mortgage packager and distributor in the UK"

Like China trying to keep out information harmful to the Communist government, FirstRung is trying to keep their ignorant readership, well, ignorant.

Thus, a declaration of war from HousingPanic. Fight 'em with the one thing on our side: The Truth. Enjoy the good fight. Keep it clean. But attack with everything you've got.

If you think the US has bubble trouble, you ain't seen nothing like the UK ponzi scheme (aka housing ladder).

27 comments:

hutheman said...

there'll be a lot more of this on the way down - huge pressure and smears from realtors, mortgage brokers, builders, developers, etc

they'll blame the bloggers. they'll blame you. they'll blame everyone but themselves.

it's gonna get ugly.

Andrew Hodge said...

It is odd that so many feel that "the bubble" is going to burst or has when the facts do not support this. Yes from what I hear in the States the housing markets have softened and turned somewhat to a buyers market in many area. However you claim a world wide Bubble and in Toronto Ontario, Canada, area there is no sign of any bubble activity. Yes we have had several years of higher than normal price increase and we are now moving out of our Sellers market into a more "normal" market with more marginal price increases, but we are also seeing record sales numbers and a strong presence of buyers in the market.

THe Bottom Line is that the housing markets may adjust in the future but unless the interest rates rise up to the 12% of 1989 or 18% of early 1980's, there will be no bubble to pop.

Currently Mortgage Fraud is having a bigger effect on the real estate markets today.

As for taking blame for inflated prices, Realtors® make money if the market is high or low. We do not need to inflate prices. If prices are inflated where you live then it is probably because home sellers have been pushing the prices and buyers have been accepting them.

Hate to burst your bubble.

foobeca said...

andy, you make me want to vomit.

I don't think you even understand what a bubble is. There is no justification for these prices. They are totally disconnected with the fundamentals. The fundamentals of a housing market are local incomes, rents, and prospects for job/economic/income growth.

I don't know much about the Toronto market, but I would say that Toronto is not representative of other markets .

It's is a fact that Realt-whores make more money if prices are higher. If the value of used housing sold in a year is $1 trillion, if that takes a 50% haircut due to falling sales and falling price, then Realt-whores make less money.

Anonymous said...

"Thus, a declaration of war from HousingPanic. Fight 'em with the one thing on our side: The Truth"

Has housing panic gone mad?

Anonymous said...

andrew hodge's post merely confirms what many of us already know -- that realtors have a good grasp of immediate market conditions in their particular market, but are largely clueless about the larger economic context. the truth is that most realtors aren't well versed in economics: their expertise, such as it is, is too narrow, and no one should give much weight to their opinions beyond the basic questions of "what's selling now," what neighborhoods in a market are stronger or weaker, and what are the latest attitudes of buyers and sellers in that market. The bigger questions -- is there a bubble, what are the risks to the overall market -- are questions they are quick to address (especially when a reporter calls) but they generally don't have the education or perspective, and certainly not the objectivity, to speak with authority on these issues.

If you don't believe me, go back and look at the thousands of bullish realtor quotes in the papers between 1989 and 1993, when the market was crashing to earth.

uknowwhoiyam said...

I'm asking HP'ers to help me fight back. Go post on their message board - new bubble topics, with housing bubble stories, or respond to the current posts

Soliciting people to spam other blogs and boards is wrong. Very wrong.

Anonymous said...

Yes we have had several years of higher than normal price increase and we are now moving out of our Sellers market into a more "normal" market with more marginal price increases

Same old story...blah blah blah.

Realtors come up with the same baloney interpretation every single time...no bubble. Prices will not drop. We are just going back to normal where prices increase 5-10% yearly. No need to worry. Good time to buy as price increases have slowed down. Blah blah blah.

Can't scare away those buyers by telling them the real risks...but then that's not what stock market or gold marketing people tell their sales clients either.

benjamin said...

I'm asking HP'ers to help me fight back. Go post on their message board - new bubble topics, with housing bubble stories, or respond to the current posts

very troll-like behavior keith.....you've turned into one of them

cereal said...

hey keith. i think it's just a couple of guys that actually post over there. burgos and iconoclast.

pinky and the brain

here's some good reading:




Parcel Use ImprFCV TaxPayer

135-10-1260 0131 $30,000.00 SCRIBNER ROBERT
$94,310.00 2229 S CALLE ZAMORA TUC
136-21-1950 0131 $18,000.00 SCRIBNER ROBERT
$135,097.00 7321 E 39TH ST TUC
137-02-007A 0340 $16,000.00 SCRIBNER ROBERT
$168,000.00 409 E THOROUGHBRED ST TUC
137-02-007A 0340 $16,000.00 SCRIBNER ROBERT
$168,000.00 411 E THOROUGHBRED ST TUC
137-02-007A 0340 $16,000.00 SCRIBNER ROBERT
$168,000.00 413 E THOROUGHBRED ST TUC
137-02-007A 0340 $16,000.00 SCRIBNER ROBERT
$168,000.00 415 E THOROUGHBRED ST TUC
305-40-041A 0014 $36,000.00 SCRIBNER ROBERT
$0.00 1258 N CALLE RINCONADO PC
305-40-041C 0014 $36,000.00 SCRIBNER ROBERT
$0.00 1256 N CALLE RINCONADO PC
305-40-041D 0014 $60,000.00 SCRIBNER ROBERT
$0.00 1252 N CALLE RINCONADO PC


140-05-0790 0131 $30,000.00 YOUNG JOSHUA & JESSICA CP/RS
$98,197.00 3790 E FELIX BL TUC

it's someone i know. he bought 6 props in tucson last summer.

he still owns them all. he took out $950,000 from his santa monica home. that's a 5,000 monthly negative, and probably a $200k loss in equity when and if he ever sells.

that last prop is his daughter and son-in-law, bot into an amer richmond home for $201k, still on the market 9 mos later.

tell pinky to suck on that

keith said...

"Soliciting people to spam other blogs and boards is wrong. Very wrong."

Having the administrator of firstrung change the words of my post to make it look like they were my words was wrong on a level far surpassing HP'ers posting articles or comments

Spam is advertising. Posting articles and feedback should be welcomed on any discussion board.

Like HP welcoming andrew hodge to the board. We love it when realtors come here and make their cases - in most cases, thus proving ours. Welcome Andy!

As to Iconoclast over at FirstRung - a manipulative lying piece of human garbage - it's war

Consa said...

OK Guys if thats the way you want it, war it is!!!
On behalf of Iconoclast
Regards Owner :-
http://forum.globalhousepricecrash.com

keith said...

good thread over at the battlefield today:

Hi Keith/Housing Panic

First off Im also new to this site. I can promise you I have no personal affiliation to it whatsoever.

With respect, you are misjudging the very valuable service being offered here - no one who participates in the site is being hasselled to take a mortgage on. All voices are heard. The site provides for considered views from all sides of the debate to engage. Believe me, there is a desparate need for this kind of forum here in the UK right now. We have a wider media - at all levels - which is 99% signed up to the lender/government agenda on housing issues. This space, here, offers reflection and broader consideration of the issues.

Lay people like myself need to hear countervailing voices to those of the vested interests. We hear them, in part, here and Im very grateful to have come across the site.

Cheers,

Richard.



keith Posted: Apr 25 2006, 06:41 AM

richard - good post. I think what you're looking for is an independent space - the one you've found here "represents the leading mortgage packager and distributor in the UK"

In other words, they're a biased wolf in sheeps clothing.

I'd obviously recommend housingpanic, but also look on our homepage you'll see a list of independent housing blogs.

The beauty of blogs, and the bloggers, is that we're not connected to the real estate business - we're independent people who felt it was our duty to warn others to the upcoming collapse of this ponzi scheme. We do it out of civic duty - volunteers trying to get the message out.

We're going against a massive industry, with unlimited funds, and a huge PR machine - one that kept the sheep buying houses when it no longer made economic sense. But we're winning now. The word has gotten out, the ponzi scheme is over. But that real estate industrial complex, which FirstRung is a part of, is scared, mad and paranoid now.

keith said...

more from the battlefield:
______________________
Posted: Apr 25 2006, 07:21 AM
firstrung - a wolf in sheeps clothing

Actually, it's a beautiful business plan - pretend to be on the side of the first time buyer (the last sucker in) - gain their trust, then POW! get them that ball and chain (mortgage)

Here's who first rung is folks, and here's what they do:

Firstrung represents the leading mortgage packager and distributor in the UK (FIRSTRUNG GETS PAID HUGE COMMISSIONS WHEN THEY GET A SUCKER ON THE LINE)

Firstrung prefers to introduce potential clients to Pink Home Loans (FIRSTRUNG'S SUGAR DADDY IS PINK HOME LOANS)

As mortgage packagers and distributors they also help in placing "non conforming" difficult cases (FIRSTRUNG TAKES ADVANTAGE OF THE MOST FINANCIALLY DESPERATE AMONG US, AND GETS BIG COMMISSIONS FOR DOING SO)

Firstrung is the leading company specialising in delivering solutions ONLY for the first time buyer (FIRSTRUNG HAS TARGETED ITS PREY AND IS OUT FOR THE KILL)

Firstrung does not actively encourage FTBs to buy now, we attempt to provide as much relevant information for the FTB as possible (FIRSTRUNG BRILLIANTLY USES THE OLDEST SALES TRICK IN THE BOOK - GAIN TRUST, THEN GET THE SALE)

The Firstrung opinion, based on extensive and exhaustive investigation over the past two years, which has resulted in the creation of the revised Firstrung web site, is that the market will return to 2003 levels as a minimum correction (FIRSTRUNG KNOWS DAMN WELL THAT WE'RE IN THE BIGGEST PONZI SCHEME IN HUMAN HISTORY. BUT THEY ONLY MAKE MONEY IF THEY CAN CONVINCE MORE GREATER FOOLS TO GET INTO THE SYSTEM)

Please submit your mortgage enquiry by clicking on the "buying your first home" banner or alternatively click here express interest (COME ON SUCKERS - GET A MORTGAGE - DENY THE BUBBLE - WE NEED TO GET PAID!)

Consa said...

And why exactly would I be speaking in their support then?

http://forum.globalhousepricecrash.com

keith said...

consa - I see you're trying to defend them (how though - what's your defense?) - but also calling for censorship over at their site. strange since you run globalhousepricecrash - your defense makes no sense

While you're pumping your site on mine and theirs - if you censor what folks have to say, that makes your site biased and pathetic as well doesn't it?

are you paid by mortgage brokers too? Or just paranoid and crazy?

Here's consas' quote over at the corrupt firstrung:

consa Posted: Apr 25 2006, 07:35 AM

Iconoclast, these trolls need to be stomped on,you need to turn off the guest posting and make them register. They are obviously bored on that pathetic little blog of theirs. Keith reminds me of Bruno and his latest stunt

keith said...

Iconoclast at firstrung is so devious and unethical that he is now editing other people's posts and putting in his own words as if they were the posters.

Unbelievable!

Perhaps a job in China or Cuba's information ministry awaits?

uknowwhoiyam said...

Having the administrator of firstrung change the words of my post to make it look like they were my words was wrong on a level far surpassing HP'ers posting articles or comments

The link you provided points to a post by "Unregistered."

Those words are not identified as yours nor made to look like yours.

keith said...

no, the poster is listed as baaaa

uknowwhoiyam said...

no, the poster is listed as baaaa

Ok, I see now. Thank you.

Anonymous said...

keith = troll

Anonymous said...

How terribly amusing.

A member of another message board comes to this board to troll while calling the other a troll.

Is this a brittish thing?

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