skip to main |
skip to sidebar
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.
About Me
HP blogs & websites
- AmericaPANIC
- Angry Bear
- Angry Renter
- Bank Implode-O-Meter
- Big Picture
- Blown Mortgage
- boom 2 bust
- Bubble Blog News
- Bubble Markets
- Bubble Meter
- BusinessWeek Hot Property
- Calculated Risk
- Case Shiller Graphs
- Charles Smith
- CNBC Realty Check
- Contrarian Chronicles
- Countrywide Foreclosures
- Deflationland
- Denninger Market Ticker
- Dirty Scottsdale
- Dollar collapse
- Dr. Housing Bubble
- Drudge Report
- Fed Up USA Protest
- Financial Sense
- firedoglake
- Flippers in Trouble
- Foreclosure Data
- Gawker
- Gold equals money blog
- Gold Prices
- High Probability kid
- homegain blog
- Housebubble blog
- Housing Blog Recap
- Housing Bubble Bust
- housing bubble hall of shame
- Housing Doom
- Housing Fear
- Housing Tracker
- Housing Watch Price Tracker
- Housing Wire
- I Can't Sell My House
- Infectious Greed
- Inventory Overload (realtor)
- Irvine housing blog
- itulip
- J-walk blog
- Kitco
- Kunstler
- LA Times Bubble Blog
- LA Westside Bubble
- Lasner on Real Estate (OC)
- Lawrence Yun Watch
- Long Island Bubble
- Marin Bubble
- Media - BusinessWeek
- Media - Financial Times
- Media - New York Times
- Media - News Hounds
- Media - Olbermann Blog
- Media - TV Newser
- Media - Wall Street Journal
- Media Matters
- millionaire mommy
- Mish's Global Economic
- ML Implode-o-Meter
- Moneyfiles Bubble Blog
- Mortgage Fraud Blog
- Mortgage Insider
- Mortgage Ledger
- mortgagefit portal
- My Two Cents Blog
- National Mortgage News
- News: Reddit
- Northern New Jersey Bubble Blog
- NYC bubble
- Paper Economy Blog
- Paranoid Ben's boring blog
- Patrick.net
- PeakOil - Life After the oil crash
- Phoenix Flippers in Trouble
- Piggington
- PIMCO Bill Gross
- Politics - C-Span Videos
- Politics - Dick Morris
- Politics - First Read
- Politics - FreeRepublic GOP Talking Points
- Politics - Huffington
- Politics - Kos
- Politics - Malkin
- Politics - National Journal
- Politics - Politico
- Politics - PoliticsTV.com
- Politics - realclearpolitics.com
- Politics - RedState GOP Talking Points
- Politics - The Note
- Politics - TPM Cafe
- Portland Oregon Bubble
- Prudent Investor
- Ramen Recipes for Realtors
- rancid truth
- Real Clear Politics
- Real Estate & Housing Outlook
- Real Estate Bloggers
- Real Estate Decline
- Redfin.com
- Republicans Are Assholes
- Sacramento Landing
- Scottsdale Sucks
- Seattle Housing Blog
- SlackerRevolution
- SoCal Bubble
- Soot & Ashes - New from HousingPANIC
- Speculative Bubble
- Stocks - Blogging Stocks
- Stocks - Bob Brinker
- Stocks - Cramer Mad Money Videos
- Stocks - DealBreaker
- Stocks - Denninger
- Stocks - Financial Times
- Stocks - Forex expert
- Stocks - I Bank Coin
- Stocks - Market Ticker
- Stocks - Money Week
- Stocks - Motley Fool Caps
- Stocks - Option Addict
- Stocks - Options Trader
- Stocks - Portfolio.com
- Stocks - RealClearMarkets
- Stocks - Seeking Alpha
- Stocks - TheStreet.com
- Stop the Mortgage Bailout
- the greenspan mess
- The Superficial
- Trulia
- Truth about mortgage blog
- UK House Bubble
- Video - Blip Radical TV
- Video - BrassCheckTV
- Video - Countdown
- Video - Fox Business
- Video - Movietone News
- Video - NBC News
- Video: Bloomberg Live
- Video: BNN Bubble News
- Video: C-span Junkie
- Video: CNN Live
- Video: Crooks and Liars
- Video: Daily Show
- Video: Housing Crash TV
- Video: Jim Cramer
- Video: MSNBC
- Video: PBS Frontline
- Video: Peter Schiff EuroPacific
- Video: Politics Videos
- Video: Presidential Debates
- Video: TPMTV
- Vigilant Investor
- Voice of San Diego
- What Bubble?
- Wiki US Bubble
- Zillow.com
- zz HP Mandatory Terms of Use
Blog Archive
- February 2022 (1)
- August 2018 (1)
- November 2016 (1)
- June 2013 (1)
- December 2010 (1)
- November 2008 (22)
- October 2008 (155)
- September 2008 (164)
- August 2008 (141)
- July 2008 (108)
- June 2008 (129)
- May 2008 (128)
- April 2008 (161)
- March 2008 (198)
- February 2008 (168)
- January 2008 (190)
- December 2007 (151)
- November 2007 (132)
- October 2007 (146)
- September 2007 (157)
- August 2007 (143)
- July 2007 (163)
- June 2007 (147)
- May 2007 (153)
- April 2007 (135)
- March 2007 (118)
- February 2007 (147)
- January 2007 (138)
- December 2006 (157)
- November 2006 (154)
- October 2006 (193)
- September 2006 (199)
- August 2006 (182)
- July 2006 (184)
- June 2006 (140)
- May 2006 (200)
- April 2006 (166)
- March 2006 (154)
- February 2006 (105)
- January 2006 (74)
- December 2005 (119)
- November 2005 (132)
54 comments:
CHECK HOMEBUILDERS` STOCK CHARTS !!!
I'd say the local market in Cenrtal Floridhu is between Denial and Fear ...
San Diego market....Denial.
San Francisco- East Bay = Denial
The phrase I hear every day now is "well, if we don't get what we are asking, we will rent our place out". . .right! Even the commercial apartment places like Archstone have big MOVE IN SPECIALS - like a month free rent, etc.
Seattle is optimistic.
I'd say we're somewhere between Denial and Fear.
I remember when I sold my house at the top in the bubble of 1989 saying somthing like "A few hundred thousand today, next stop a million!"
Euphoria
Central Ohio - anxiety ie. it's slow.
San Francisco Bay Area = between anxiety and denial.
Lots and lots of denial.
N V R L P 724.00 -22.00 NVR
WILLIAM LYON HOME 108.65 -0.25 WLS
DOMINION HOMES IN 10.12 -0.01 DHOM
COMSTOCK HOMEBUIL 9.26 -0.16 CHCI
CENTEX CP 53.35 -1.06 CTX
MERITAGE HOMES CO 63.89 -0.38 MTH
HOVNANIAN ENT INC 36.11 -2.67 HOV
TOLL BROTHERS INC 30.35 -0.83 TOL
LENNAR CP CL A 53.12 -1.25 LEN
PULTE HOMES, INC. 35.56 -1.04 PHM
STANDARD PACIFIC 30.96 -0.43 SPF
D R HORTON INC 29.23 -0.51 DHI
BEAZER HOMES USA 56.68 -0.69 BZH
ISHARE DJ R EST I 69.34 -0.66 IYR
FREDDIE MAC 61.70 +1.41 FRE
FANNIE MAE 50.41 +0.51 FNM
SIMON PPTY GRP IN 79.68 -1.34 SPG
CENTEX CP 53.35 -1.06 CTX
KB HOME 58.58 -2.08 KBH
M D C HOLDINGS 56.07 -0.99 MDC
ECC CAP. CORP. 1.44 -0.01 ECR
AMER HOME MTG INV 34.20 +0.10 AHM
BROOKFIELD HOMES 42.2445 -2.6055 BHS
CALIF COASTAL COM 37.00 +0.64 CALC
in between ANXIETY AND DENIAL
I say between anxiety and denial. The best is yet to come. I hope lots of people lose everything. Anyone with anything other than a fixed rate mtg is retarded anyway and needs to part with their $.
Northern NJ, Denial!
I'm waiting until 50 or 60%
foreclosures and panic now in denver
i can smell it
Orange County....major DENIAL!
I see final capitulation taking between 5-10 years, Japan Style!
I would say denial and fear. Fear will be this fall.
Denial in and around minneapolis.
Houses keep stacking up faster than their selling.
Wheres the spring sell-off?
Somewhere between really dumb and really busy......
foobeca: I agree with your SLC statement. I have been looking to buy a summer home in SLC. Too much price increase. The salaries do not warrant the home prices. According to the SL Tribune 30% of mortgages taken out for the last 9 months of 2005 were interest only mortgages. I think that is how the upward prices came about. On the Avenues near downtown SLC: today there is a home on "I" street for $429,000. Ug Ug Ug. Any comments would be appreciated.
US = Denial
Baltimore is between euphoria and anxiety, but IMHO this is simply becasue we have zero public comments about anything RE-related in our one paper, and therefore no way for anyone to know, unless they go to my blog, that prices have stagnated since October. All they read is the YoY blather thrown at them from the MAR and regurgitated in the paper with a few Realtor platitudes. Although, from another perspective, that will make the fall all that much harder when the reality finally does sink in, huh?
SLC and Albuquerque NM are the Lucent and Cisco at the end of 1999. Investors trying to squeeze the last few pennies out of the housing bubble before it is completely smashed. Remember homes and home builders need to go back to the exact amount they were in 2001, because there has been no real wage increase. Real Estate sucks as an investment because it is not liquid, there is no stop loss, and there can be no buyers for years, a stock takes less than 30 seconds to sell.
I've seen lots of denial, but fear is creeping in!
I had an appliance repairman here (PHX)today to get the washer going.
Conversation turned to housing. I told him about my neighbor who bought 1200 sq feet for $255,000 at the peak last JUL-AUG. Now it's an upside down.
Why ? He asked. I mentioned that home values can only come down from here.
NO!! (DENIAL) they are going up. They'll keep going up.
Then , I mentioned the number of listings and the rapid increase.
He looked at me motionless.
PS- As I type this , Lynn Sue Cooney on 12 news just said at the top of the 6 oclock news broadcast:
"Breaking News! A national Mortgage Company(Ameriquest) announces big job cuts right here in the Valley !!!
It's incredible the cluelessness.
Anyway , I gave the Appliance repair dude the webaddress here Keith!
Thank goodness for this place.
Ameriquest laying off 3800 nationwide!
Here we go !
Those are some interesting comments. The majority of the people see us at the early stages of the downswing.
I totally agree based on my local market in Redondo Beach, CA. Anxiety is starting to set in, but prices have still been holding. There is still a long long way down.
The resell market is OK in the Dallas area because of the very affordable prices and strong economy, but the problem is the sprawl of subdivisions heading a hundred miles north to Oklahoma. I'd say they have about 5 years worth of inventory up there. I was looking at a nice 1300sf condo listed at $98K in a great location, but it was snatched up in less than a week. Similar condos are listed at $109K.
I hope those dirtbag speculators stay away from here. Our property taxes are high enough.
SLC is a great place, but it is going to get smashed so hard n the downturn. SLC doesnt realize that NOTHING can justify the run up in prices. They are very late to the party and many will loose big time!! MONEY DOES NOT GROW ON HOUSES!!
denial, with fear coming in the fall
We're passing from the denial to fear stage.
In DC, I would have to say we are in the 'ignorance' phase. I still hear people talking about how they plan to "get their money out in two years," I still hear about friends-of-friends who are looking to buy (oblivious). When I suggest to other that real estate might be down for a while (5-10 years), it is met with blank stares.
Stories about sellers enraged at their relators are definetely on the rise though. Especially higher end - in Fairfax Co there are 529 homes for sale in the $1 to $1.5 million range being sold lots of baby boomers who have already bought elsewhere and don't want the double mortgage. There won't be buyers for homes in that price range - panic is coming
drove by court house of cherokee county yesterday around mid day - big crowd in front of court house - many in folding chairs - thought at first a politician was getting ready to give a speach - but then realized that it was "first tuesday" and the crowd was there for the foreclosures being read off. must be pretty bad cause in past most were worked out before the court house steps. i would say that metro atlanta is in "denial" stage. if the propaganda machines were showing pictures of that on the brainwashing machine - rather than a jet doing an emergency landing in houston, i have a feeling that we would be in the fear/panic/depression phase. there is no way that the powers that be - who ever they are - but they are there - can keep this under wraps much longer.
Metro Detroit area between denial and fear. Really sucks, but it is going to get alot worse here before it gets any in my opinion.
Riverside, CA = Anxiety
Inventory going throught the roof but homes are still selling, and values going up only so slightly. Sellers are starting to get a little worried since it's taking so long to sell their houses (around 60-90 days now).
SLC fares well by many metrics, and businesses seem to be discovering it as an alternative to other locales (fairly steady job growth, and low unemployment). The economy is good. Housing prices have gone up recently for sure, but it certainly isn't obvious that they are unreasonable at the current levels.
Looking for a vacation home in park city may be a different story...
I would argue that DENIAL should come before ANXIETY on the chart.
That being said, we have completed the DENIAL stage and are just entering ANXIETY.
Witness current Harper's and Fortune (May 15) cover stories.
I sent a housing bubble article to an acquaintance that has purchased ten properties over the past three years.
His response was - just like the chart - "be careful where you invest long term vs. short term"!
Vancouver, Canada is sliding from euphoria to anxiety as our first slow sales numbers come in. But the average person is still riding the wave, ignoring the US and taking out home equity loans on their effortless wealth.
I agree with a previous blogger about SLC and Albuquerque new mexico. We sold our house in Alb, in one day a couple months ago, for more than we asked, to an "investor". When that person tried to do minimal improvements, and relist our house for more, the house didn't sell, and is now back off the market. We are renting in Austin now. The timing of the price decreases will be when there is greater than a 9 month supply of unsold houses on the market.
It will take awhile, but worth the wait.
Massachusetts-Blissful Ignorance
Unless you open your eyes and see the amazing amount of inventory that is piling up!!
Went from Haverhill Ma to Newburyport on the coast via RT 113 yesterday.Almost every view had a for sale along the road.Someone must be waking up!!
i think all of you are in denial. you're concerned about inventory - how about the foreclosures that are taking place while that inventory is being added to by builders. told earlier about the folding chairs set up at a suburban atlanta courthouse to view the foreclosures being read off on the court house steps. today, as a lawyer, i got a call from an older woman, a widow, who wanted to file bankruptcy. the house she and her husband had lived in for 30 years was foreclosed in april. the bank is now suing her for a deficiency judgment - this was not a new buyer - this was a buyer who had been using her house as an atm and it finally caught up with her - so it's not just the new buyers who are getting hurt - it is probably a vast number of long term home owners whose houses are also going to be added to the inventory.
DO ANY OF YOU UNDERSTAND THE SIGNIFICANCE OF THIS????? DO YOU UNDERSTAND WHY I SAY YOU ARE IN DENIAL????
Look, the exploding inventory combined with a fourth quarter slowdown is going to be one toxic coctail.
Reminds me of last years Christmas party, I had way to much to drink, I got into bed, everything was spinning around, and then came the purge, this is what happens when people do to much of anything. I had a one day hangover, real estate is going to be a 10 year hangover for everyone, not just those in the bubble states, everyone in the RE pyramid.
Phx/Scottsdale Market is still clueless. I don't think they even know enough to be in denial. I noticed it last year at the end of the summer. More homes on the market ...and homes selling for significantly less than the asking price. I had 12 offers in one day and sold my house for 20% more than asking, but that was in April of 2005.
Between denial and fear on average in north Scottsdale. More toward denial than fear, unfortnately.
Hello Friend! I just came across your blog and wanted to
drop you a note telling you how impressed I was with
the information you have posted here.
Keep up the great work, you are providing a great resource on the Internet here!
If you have a moment, please make a visit to my athletic scholarships site.
Good luck in your endeavors!
Hello Friend! I just came across your blog and wanted to
drop you a note telling you how impressed I was with
the information you have posted here.
Keep up the great work, you are providing a great resource on the Internet here!
If you have a moment, please make a visit to my athletic scholarships site.
Good luck in your endeavors!
Hello Friend! I just came across your blog and wanted to
drop you a note telling you how impressed I was with
the information you have posted here.
Keep up the great work, you are providing a great resource on the Internet here!
If you have a moment, please make a visit to my athletic scholarships site.
Good luck in your endeavors!
Hi Fellow! I was just searching blogs,and I found yours! I like it!
If you have a moment, please visit my atlanta bankruptcy chapter 7 site.
Good luck!
Hey, you have a great blog here! I'm definitely going to bookmark you!
I have a atlanta bankruptcy chapter 11 site.
Come and check it out if you get time :-)
Greetings.
Hello Friend! I just came across your blog and wanted to
drop you a note telling you how impressed I was with
the information you have posted here.
Keep up the great work, you are providing a great resource on the Internet here!
If you have a moment, please make a visit to my atlanta bankruptcy chapter 11 site.
Good luck in your endeavors!
I am here because of search results for blogs with a related topic to mine.
Please,accept my congratulations for your excellent work!
I have a bad credit help site.
Come and check it out if you get time :-)
Best regards!
Your blog I found to be very interesting!
I just came across your blog and wanted to
drop you a note telling you how impressed I was with
the information you have posted here.
I have a bad credit lenders
site.
Come and check it out if you get time :-)
Best regards!
Your blog I found to be very interesting!
I just came across your blog and wanted to
drop you a note telling you how impressed I was with
the information you have posted here.
I have a bad credit lenders
site.
Come and check it out if you get time :-)
Best regards!
Post a Comment