HousingPanic Stupid Question of the Day

August 22, 2006

HousingPanic Stupid Question of the Day

For the love of god why can't realtors just be honest about the housing bubble bursting and current market conditions?

25 comments:

Anonymous said...: life's losers got that way in part because they are dishonest people, correlation or causation, I'm not sure. And many of life's losers fell into real estate because no legitimate company or career would accept them. And that's why most realtors are liars. In addition to the fact that their commission-based career depends on them selling a story to potential suckers, even if that story is not true; August 22, 2006 10:14 AM
David in JAX said...: The very, very few that are being honest about the market are gaining more respect from people. The rest are looking more and more like slime balls.; August 22, 2006 12:02 PM
David said...: May David Lereah long live in infamy!; August 22, 2006 12:32 PM
Anonymous said...: In RE world
honest=no business.
Good customer = not educated customer; August 22, 2006 2:10 PM
Osman said...: Hmm.. perhaps the question should be

Why does HP insist on promoting stereotypes?

Did real estate agents beat you up on the playground Keith or what?; August 22, 2006 2:14 PM
The Thinker said...: Interested parties always spin the facts to substantiate their position. We should not penalize realtors for doing the same, we should simply recognize that they are interested parties and look at what they have to say in that light. If you hired a realtor to help you sell your house wouldn’t you be pissed if she was telling potential buyers that they should consider renting because the market was turning ugly? I certainly would find myself a new realtor.

Realtors are sales people hired to promote a product, why do you expect them to be fair and unbiased?

I think we already knew all this. The people who should wake up to this fact are the MSM who routinely go to realtors for quotes as if they were impartial professionals. It would be like asking OJ’s dream team if they thought OJ killed those people and expecting an impartial answer, it isn’t happening!; August 22, 2006 2:15 PM
Anonymous said...: It isn’t just real estate agents. The country vacillates in and out of being a nation of hucksters during certain periods of time because of the natural tendency of human beings to want something for nothing or to appear as something we are not.; August 22, 2006 2:19 PM
Bill said...: Takin from Nize Notes:

Real Estate Offices Shutting Down
More signs of the severity of the slowdown in home sales are coming out of Los Angeles where residential real estate offices in the area beginning to shut down.

The Los Angeles Business Journal has confirmed thatin the last 60 days at least six residential brokerage branch offices have closed or are in the process of doing so, most on the Westside or in the San Fernando Valley. Hundreds of brokers have been consolidated to other offices, and some have left the industry.

Several said the consolidation wave has just begun.

“I’m seeing closings going on all over Southern California,” said Syd Leibovitch, president and owner of Beverly Hills-based Rodeo Realty, an independent residential brokerage.

Is the fat lady singing yet??????; August 22, 2006 2:33 PM
Anonymous said...: That's the American way - SPIN.; August 22, 2006 2:56 PM
Bill said...: OT:

http://tinyurl.com/nqooz

Is this the reason the 4:00 deadline is so specific/..interesting news Fox's; August 22, 2006 3:14 PM
Anonymous said...: The August 22nd thing has turned into a pretty mild set if iranian proposals apparently.

http://www.theglobeandmail.com/servlet/story/RTGAM.20060822.w3irannuc0822/BNStory/International/home; August 22, 2006 3:21 PM
Anonymous said...: 8/22

yawn; August 22, 2006 4:26 PM
blogger said...: os - a generalization,yes, but then go read realty times and you'll see what got me so incensed

then there's the mortgage brokers - see the posting below this one, then you have the idiot at bloodhound realty and the idiot LA realtor who posted here, and it just keeps adding up. oops, I forgot to mention king of the liars, David Lereah, who is the face of the real estate profession, and a real slimeball

your profession needs an enema

then you have The Os. A beacon of truth and light. Keep up the good work - it'll pay off in the long run; August 22, 2006 4:46 PM
Anonymous said...: It's a disease...it's in their blood!; August 22, 2006 4:50 PM
Anonymous said...: Realtors need to earn a living so I'm not too upset with them because to some extent, they have to lie to themselves in order to successfully lie to others. All is fair in love and war.

The people who I have absolutely no respect for are these self-righteous full time corporate drones who constantly banter the 'RE only goes up' mantra again and again even though they'd lost big when Cisco went from $150 to $10 parroting exactly the same thing as if they were a cross product of Warren Buffett and Jeanne Dixon. It's these losers that society can do without because ultimately, they're little more than trained monkeys in jobs where corporate cronies keep them around to prevent smarter people from potentially displacing them.

Realtors are at least subject to the laws of the jungle where they either sell or pack their bags. It's kinda like the stock trading business but easier especially during bubble times. On the other shoe, a group of cronies in a company are very hard to fire because if they go, as a team, a lot of work goes missing which is why so many of them can survive even after rounds of layoffs. The key for them is to hire some entry level people, give the entry level people the redundant work, and when the orders from above come in for a layoff round, they just layoff the new guy who doesn't have the critical experience.; August 22, 2006 5:08 PM
Bill said...: can you here the song..

"California Dreaming is such a winters day"

Foreclosure activity in California in the second quarter jumped by 67

http://tinyurl.com/qeudx; August 22, 2006 5:46 PM
foxwoodlief said...: Because no one, not even HP knows when or how this thing is going to play out. Even during the depression people still bought homes.

And they are getting ready for all those foreigners to come buy up our homes cheap as our currency continues to devalue and our homes look cheap, not to mention as an escape when all hell breaks out in the Middle East, Europe, Asia and South America.

Thought it so nice of Iran to give hizbollah $150 million to help pay for the multi-billion in damages caused by their war induced by Iranian missles. Cheap war strategy, we should learn!

Also notice they were handing out crisp, $100 bills? The currency of the great satan handed out to those poor victims of Hizzbollah's madness? Why not Lebanese currency or the Euro?; August 22, 2006 8:35 PM
Anonymous said...: Because realtors are scum.; August 22, 2006 8:51 PM
blogger said...: foxwoodlief said...
Because no one, not even HP knows when or how this thing is going to play out

keith says:

Oh, no, foxwood, I know exactly how this is going to play out. I've seen the future my friend, and it ain't pretty.

HP is omnicient, omnipotent, all seeing, all knowing; August 22, 2006 9:07 PM
foxwoodlief said...: Thanks Keith, when are you going to releast the new Biblioquran? I'd love to see the future.

Don't get me wrong. I said years ago to my friends that the "inverse square law" applied to home prices. Interest rates go down, prices go up. Rates go up, prices come down, all in part due to affordablitiy.

As a moderator you've noticed in most of my posts I've always believed the value of assets is constant and that all increase (other than during supply and demand issues) are an illusion of inflation.

We both lived in Phoenix and saw that the house bubble there was unsustainable based on economic fundamentals. Sure, maybe four years ago someone from CA thought selling and moving made sense even if they made less money because if they bought a nice house for $200,000 and put $100,000 down from selling in CA they could live well even if they only made $15 each an hour.

Now? Pure bubble, plain and simple and all those flippers (who should, along with all those who allowed it, go to jail) are laughing to the bank (the professionals who left late last summer) leaving the average joe with the bill (so much like multi-level marketing, no?).

Still, I'm not as pessimistic because the majority of people I know in Phoenix have stable jobs, those who own didn't take out all the equity, and those who couldn't afford to buy four years ago haven't and rent.

Also I have watched real estate prices overseas for years and have always been amazed at the world-wide speculation in property. A lot by the rich who take advantage of every economic crisis wether in Ecuador six years ago or Argentina, what four years ago now?

I think those two countries offe a worse-case scenario if our currency collapses and Germany/Japan offers the opposite. Still, unless there is a worldwide depression or world war life here will go on.

We'll probably see a repeat of the oil-meltdown in Houston in 1980s and a lot of foreclosures as people move to start over. Or the same as the late 80s, or even the stagflation of the early 70s.

A 1930s style depression? I'm no prophet so won't rule that out because everything is inter-related so if rates are raised to high to fast or a major disaster like a 8.5 quake in Silicon valley, LA, Seattle, for example, a nuclear strike or war with Iran, they list can go on, can quickly change the course of events.

One thing for sure is the American Empire is being eclipsed, like Spain, France, Britain, and we are becoming a third world country (not just through immigration). You being probably 20 years younger have more to worry about than I do.

Predicting the future is about as accurate as a katusha missle. A lot of smoke, terror, noise, collateral damage somewhere, but until it actually strikes we really don't know what the extent of damage will be.; August 22, 2006 9:29 PM
Anonymous said...: "One thing for sure is the American Empire is being eclipsed, like Spain, France, Britain, and we are becoming a third world country"

Yes, the Imperial days are over, however, we may be able to slide into second world nationhood w/o a third world portfolio if we decided to get our act together, focusing on keeping R&D local, limiting our involvment in overseas conflicts, and re-inventing ourselves with clean coal technologies since we have 1/3 of the world's reserves. If we keep the above focus, then we can slide into a 2nd world nation-state w/o too many problems and disruptions. Otherwise, it's a full blown banana republic future for the USA.; August 22, 2006 9:51 PM
Anonymous said...: I have a family member who is a Loon-officer. No matter what credible stats and data I throw his way, he still is an 'optimist' he says. Classic case of denial. You see , he's leveraged up to the hilt, new McMansion, several homes, H2, the works (all on buy now pay later plans)
He used be a truck driver only 2 years ago. 40 years old with only a high scholl GED. WTF is wrong with these people that they can think they can bypass all the hard work and dues that must be done and paid to achieve such success? THis guy filed bankruptcy in the 90s and also suscribed to the AL Williams, Primerica and Anway scams before. Always looking for a shortcut in life. Losers, go back to school and get an education.; August 23, 2006 12:25 AM
Merv said...: Honest? Some of us are. See http://askmerv.choice3realty.com/000673.html; August 23, 2006 1:06 PM
Anonymous said...: Merv,
We believe you are. Of course there are exceptions. Problem is 'very few' of you are honest. That is a proven fact by many on this blog that have dealt with agents, loon officers or brokers.; August 23, 2006 7:03 PM
Anonymous said...: I had a real estate agent try to sell me a 350K home in PA with mold in it last winter. There was snow on the ground and the windows were all cracked open. Geee, did he think I wouldn't notice? I fired him and I am waiting to buy.
The scary part is that someone bought it. Yikes.; August 23, 2006 7:43 PM

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August 22, 2006

HousingPanic Stupid Question of the Day

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