David Lereah "I'm very bullish on Florida" - HA HA HA HA HA HA HA HA HA!
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24 comments:
Check out the last bastion of reason shouting the truth from the ramparts:
http://www.bloodhoundrealty.com/BloodhoundBlog/
Perhaps the whole lone voice of integrity speil would be a little less intellectually dishonest if his view was actually a minority view instead of the majority view.
Oh, that, and his penchant for labelling any reasonable, but contradictory, point of view as comparable to the propaganda of Brownshirt Nazi, Communist or perjorative term.
Poor reasoning, no matter how eloquantly stated, is still poor reasoning. And Mr. Bloodhound's nasty little habit of name calling speaks to an altogether more base form of discourse.
This guy is truly on crack. I live in Florida, and prices are DROPPING!! Especially on condos and townhouses! We have townhome developments like these that only investors can afford:
http://www.backbayatcarillon.com/
http://www.villasofcarillon.com/
Florida is going to crash, there is no way these prices will hold. The average person, here in Tampa Bay, makes around $35,000...how can someone on that salary afford to buy a townhouse "from the high 500's"? They say "from the high 500's" like it's a good thing! I wouldn't pay $100,000 for one of those units!
-Dragasoni-
Ol' Yeller is pretty rabid in his dismissal of valid concerns about the direction of house prices. The surreal rationale and rhetoric is very Alice in Wonderland'ish.
Even Tweedledee & Tweedledum of the NAR/CAR say times are looking tough ahead, and the words 'soft landing' just don't seem right anymore.
But why should that old dog worry when he can conjure money out of thin air: 'How to turn $1.00 into $27,000. in Eight years'?
Until you remember Ol' Yeller is just another salesman and taking a bite out of your wallet is just in his nature. He just needs a bit of house training...
Cheers, Haggis
It's funny because he justs says that we a) have low IQ's and b) don't have enough to do. He still won't dispute any facts that were posted. I think we should flame him constantly about not defending any HB facts or presenting any facts of his own.
I hope David Lereah loses lots of money.
Boom like California. He is making it up as he goes along. A lot of verbage that is garbage. There is no gold in Florida. And soon there will be no water. Bullish on Florida. Yehk sure... until the next Bear of a Hurricane comes and takes it all away. Guys like that make me sick. He wants the happy times in real estate to continue just long enough to sell those condos he bought to some other poor fool. Sit on it David!
Let's leave Swann alone. He's carrying a lot of baggage, most of which seems to have nothing to do with this little stoush with the HP crowd. It's no fun trading barbs with a guy who has such a deep well of bitterness to draw upon. He's a strange, clever, angry, and apparently somewhat unhappy man, and I actually think it would be sadistic to keep pushing his buttons. It's way too personal, and I don't feel comfortable pushing an argument with a guy who's obviously been cut so deeply, especially since 1) we're many and he's one, and 2) many of us have very good reasons to remain anonymous in all blog threads, and his identity is known to all.
And so far as I can tell, the debate has added nothing at all to anyone's understanding of the issues in the housing market right now. Let's drop it. I'm serious.
David, You are either extremely stupid or extremely unethical.
Scenario 1 - Extremely Stupid
Go back to wherever you obtained your "degree" or other "professional certificate"...and ask for your money back.
Scenario 2 - Extremely Unethical
You loaded up on Florida RE and now you are trying to "pump your stock" until you can unload...well it's too late (see Scenario 1). May you lose everything for advising others to destroy themselves financially to bail YOU out.
do we have a date on that interview? Please tell me it was last year.
Guys like that make me sick. He wants the happy times in real estate to continue just long enough to sell those condos he bought to some other poor fool.
I am not defending David Leer.
FACT: Florida is the number 5 destination for travel the WORLD.
IMO: Vacations are mostly inflation proof.
When the USD is in the toilet, money from across the pond will pour in and scoop up RE by Disney World. I'm just sayin.
They will not bomb Disney, they all own stores here.
The heights of California prices are what Florida, as an exception to the bubble, could see and Florida businnes expect to see.
Give me a good ole' hurricane any day over a Fire.
The fact is that these storms are no big deal, and Katrina was different.
A Hurricane under a cat 3 is scary, but rare, as in, maybe every 10 years. A cat 4 or 5 (Katrina) just happens every several decades years or so. So rare that it is like worring about getting hit on the head by a space rock.
Duh.
There was a boom in California (for real) not due to gold (that was transitory) but first from agriculture.
After the irrigation projects, California had a better growing season than just about anywhere else in the USA.
California has better weather than anywhere else in the USA.
And then, the real boom came with the aerospace industry---which set up here because of the dry warm weather---and lack of hurricanes!
Not to mention some fine technology & research universities which invent things like say, RAM, microprocessor and genetic engineering.
And Florida? What does it have? Humidity & rednecks & scammers & geezers & cubans & category 5ers.
A Hurricane under a cat 3 is scary, but rare, as in, maybe every 10 years. A cat 4 or 5 (Katrina) just happens every several decades years or so. So rare that it is like worring about getting hit on the head by a space rock.
Duh.
Hey hey hey---it's the David Lereah of climataology!
How about this. Why don't you get a quote for Florida hurricane insurance, and then get a quote for meteorite insurance?
GWB might not believe in global warming but the risk modelers in the reinsurance industry, who have their money on the line, know the real dope.
Reality is that there are multi-decade long patterns of intensity and we are coming back into a high-intensity cycle, which is then added onto the overall background of increased global warming. Effects of global warming has now been observed in the long-term temperature of oceans. In the 'old days' in the global hurricane cycle when some parts were high, other parts of the globe were low and vice versa---because of the total energy conservation balance. We're now moving to a higher overall level, upon which is added these fluctuations.
By the way, Katrina was only Cat 3 went it made landfall.
Is this the same David Lereah?
Insurance Markets: Information Problems and Regulation (1985)
Book Description
Both the insurance consumer and seller often find it extremely difficult to properly assess the type of product sold in the marketplace. In order to shed some light on today's insurance markets and their regulation, David Lereah examines both property-liability (accident) insurance markets and bank (FDIC) markets in the context of information problems, and evaluates the effects of existing regulations on market participants. Lereah's probing study concludes that the government, aside from assuring industry stability, should act as an information center so that the competitive insurance market can be free to effectively allocate the marketing and selling of insurance.
From Realtor.org:
Dr. Lereah was Managing Principal and Chief Executive Officer of Vantage Financial Group, Inc., a consulting company focusing on financial and investment management for the banking and real estate industries. He also was the Chief Economist of Sovran Bank (predecessor of NationsBank and BankAmerica) in Richmond, Virginia, and served on the Asset/Liability and Investment Committees for the holding company. Dr. Lereah spent several years as a bank regulator and a Financial Economist for the Federal Deposit Insurance Corporation. In that capacity, he authored numerous articles on bank management and hedging strategies. He also was a member of the American Bankers Association's Economic Advisory Counsel. Dr. Lereah began his career on the faculties at the University of Virginia and the Graduate School of Management at Rutgers University, where he specialized in banking issues, market information problems and financial market research.
foobeca you are right, and NO is 16 feet below sea level. It is a one off catastrophic hurricane.
I am talking about the big picture based on the history of record keeping.
The great % of canes are not that bad. I have been in about nine of them.
Katrin was a cat 4 just before she made land fall.
Hey hey hey---it's the David Lereah of climataology!
LMAO
Keith,
Did you put that video together? I see that picture is of the "bubblicious bench" that I sent you. I know it's mine because the orange construction barrel behind it looks like it's glowing from the flash on the camera.
chris g - not mine, probably a bubble blog reader
nice though eh?
Agony index is going up.
I have a colleague in Tampa, Florida who's neighbor has been a successful "condo flipper".
This guy still can't sell a $154,000 condo and another $235,000 unit that he bought previously. Don't know the details of this flipper guys' financial situation, only that he broke down crying at my colleague's weekend barbecue: "I'm so fxxxed!"
Jesus, run away!
I'm sorry, but what do you expect from a guy who has a vested interest in real estate! Why should he shoot himself and every other r.e. agent in the foot?
Hey! I want to sit there, but it's uncomfortable!
Hey Fellow, you have a top-notch blog here!
If you have a moment, please have a look at my california department of insurance site.
Good luck!
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