OK, I'm sorry I blew it for some of you, but the grey hair guy won (that'll be officially announced later tonight).
And the housing bubble burst (that was officially announced awhile ago). And many of your countrymen are fools soon to be parted with their money. That hasn't been announced yet. Shhhh...
May 25, 2006
FLASH: The grey hair guy wins Idol, housing bubble continues to pop, Americans remain financially ignorant and easily entertained
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17 comments:
Housing Bubble WAS announced
But most people will read NEW HOME SALES UP! in tomorrow's newspaper.
Yes, of course they are up, developers are in panic mode and slashing prices faster than a GM dealer with SUV's. . .in NorCal suburbs they were giving a Mustang away, 50K off and plasma TV's. . .NOW, for anyone who read beyond the first paragraph, housing prices were down 7.3 percent from March till April. . .and we now have a 6 month supply of homes . . .2 years in Phoenix!!
me above - I like to post my name and location - San Diego. . .we have 21K homes on the market now. . .
I'm beginning to believe the conspiracy theorists about disinformation from the U.S. government.
New home sales report, from Dept of Commerce, shows new home sales "are unexpectedly up by 4.9%".
What the headline doesn't reveal is that the increase is just April vs. March this year. And that the March sales were revised downward significantly.
So next month, these April sales figures will likely be revised downward as well ... making May look better.
Not to mention, the +4.9% increase is with a variation of +/- 11%, which means statistically they can't determine if it was an increase or not ----
Propaganda at its finest.
Keith,
You mean "our" countrymen, right?
I still see Baby Boomers walking around Home Depot(two drink minimum) and Lowes (Owes!)like they are at a country club or Gateway stores 1999. Most of them still do not know. I know some who do know. They have their homes up for sale, price reductions and still no offers. Yet this same group still talks of the virtues of (common)stock as if they are investments and not gambles.
I still see Baby Boomers walking around Home Depot(two drink minimum) and Lowes (Owes!)like they are at a country club or Gateway stores 1999.
Yes you are correct...
All 80 million Baby Boomer walk around Lowes like they are at a country club.
All 80 million Baby Boomer own McMansions.
All 80 million Baby Boomer have recently refinanced their homes.
All 80 million Baby Boomer are depending on their McMansions for retirement.
All 80 million Baby Boomer drive SUVs.
Have I missed any other popular generalizations about Baby Boomers?
Yea, you left out a big one, the stupid sob boomers didn't save a gd dime for retirement, they are trying to flip houses and condos to make up for it, now its time for them to take their medicine.
It is unfortunate that the Scal Re prices have not gone into serious bubble collapse(yet) such as south florida, Scaramento, or phoenix. The bubble here will more likely be the slow drip drip of chinese water torture or the slow melting of an antarctic icecap with ocassional iceblocks crashing into the ocean. Sellers here are indeed stubborn to lower their prices in the face of facts. Here's a fact to comfort them. Japan is a tiny mountainous collection of islands with less than 10 percent level plain to build on. It is extremely crowded and overpopulated with limited buildable areas, so prices of houses and land should only go up and up, right.Guess what. Japan had a 15 yeardecline in RE prices from 1989 to 2001.
sorry about mistake. Japan had a 15 year decline in RE prices from 1989 to 2004.
Just a note: Orange county is putting up more top-of the line SFH's in turtle rock area south of 405 in irvine hills( looks like irvine ranch property). Does OC really need more million dollar mcmansions? Turtle rock is another OC well-laid out Master planned community like Rancho San margarita. And expensive to boot. I think that average SFH is around $800,000 to 1 million.
Yea, you left out a big one, the stupid sob boomers didn't save a gd dime for retirement, they are trying to flip houses and condos to make up for it, now its time for them to take their medicine.
Idiot.
The no-saving part applies to all of the US but the younger age groups are going the most deeply into debt. The flipping of houses is probably more prevalent with younger people.
Road Hawg said: "Orange county is putting up more top-of the line SFH's in turtle rock area south of 405 in irvine hills( looks like irvine ranch property)."
That sounds like what was Lion Country Safari when I grew up there. We used to live in a house that backed up to peter's Canyon, prime Irvine Company land. i could ride my dirt bike from the back yard, down the back hill, up the dirt peter's Canyon Road, across the road up to Saddleback mountain, sneak through the little hole in the barbed wire fence and ride Saddleback Motorcycle park. That is if the Irvine Patrol didn't catch me on their road.
Before we lived in Cowen Heights ($50K ranch house on 1 acre backed up to virgin CA hills, bought 1970), we lived in a horseshoe canyon in the Ventura foothills called Ondolando. I used to ride my minibike up in the hills there also. Heck, you could ride firetrails all the way back to Santa Paula canyon.
Cali was a fun place to grow up back then. I left in 1979 and never looked back. Thing is, the sheeple that are moving there and paying a fortune to live in cookie cutter sh*tboxes, just to live in Cali - have no clue. Their kids have nothing to do but hang with the gang. 2 hour drive to the beach where there is probably nowhere to park. Daddy is gone all week cause he (and maybe mommy also) commute 2 hours to work. The mountains cannot even be seen except for a few days due to smog. Athsma is way up in kids there I read.
What a life. And these sheeple are gonna be broke because they got sucked into that vortex. Folks, there is still a life in other parts of the country. Open your eyes and think about your kids, not your gottahaveitALL egos.
hey, nobody gave me kudos for stating with certainty that the grey hair guy won idol - before they announced the results!
geeze, what do I have to do to impress you folks? give you the winning lottery numbers?
Unlike a majority of people, I am more interested in the economy and state of the country more than American Idol. Actually, if I ever being to watch that show, please come over and shoot me due to my extreme boredom. Matter of fact, if I started watching Idol, driving a big SUV, and wasting my days away at Starbucks then I should fit right in.
Sorry. I don't watch Idol either. It's just too much stupid for my brain to handle what with the current state of affairs running this country into the ground.
The fact that more people voted for the grey haired buy than the president is certainly mistated. The fact is that you can phone in your vote many times.
Bush and Kerry certainly would have gotten more votes if let you "phone" it in, and certainly more with all the partisan wackos phoning in a hundred votes for their guy.
Anyways, good call Keith. I voted for that guy, not afraid to admit it. But hey, I have a daughter.
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