HP'ers, I'm afraid it's just gonna get worse as the housing ponzi scheme collapses and millions of REIC minions go unemployed, and direct their anger at HP.
People like Greg Swann over at Bloodhound are now trolling HP, trying to disrupt the blog. We're also getting trolls who enjoy swearing, spewing hatred, and the latest, using fake handles to mimic another HP'er.
I'm sorry Greg Swann if your life is now in ruins, and your credibility forever damaged. But instead of trolling HP, I'd suggest you start working on a job retraining program, or maybe find your way over to monster.com instead.
Luckily, there's this thing called the delete button on my end. And if you see a post that is obviously not from the poster you've come to know here at HP, click on the name and it'll take you to their profile. You know what mine looks like.
I'll keep swatting the flies, and eventually may need someone else I can trust to also monitor the board - send me a note if you're interested.
I like the free-flowing, out of control nature of HP, so I'll keep allowing Anon's to post, even though I wish they'd have the guts to choose a handle. But as always I won't allow swearing, racist comments or hateful posts on HP. Keep it clean, stay on topic, no threadjacking, and have a good chat. And above all:
DON'T FEED THE TROLLS
34 comments:
If I'm not mistaken, as some of our former, big industries have shut down in the Midwest, the Federal Government has stepped in and offered grant money for job re-training. I would suggest you get busy filling out the paperwork Greg, so you can get a jump on your fellow agents for an instructor position...
A Reading from the Book of Armaments, Chapter 4, Verses 16 to 20:
Then did he raise on high the Holy Hand Grenade of Antioch, saying, "Bless this, O Lord, that with it thou mayst blow thine enemies to tiny bits, in thy mercy." And the people did rejoice and did feast upon the lambs and toads and tree-sloths and fruit-bats and orangutans and breakfast cereals ... Now did the Lord say, "First thou pullest the Holy Pin. Then thou must count to three. Three shall be the number of the counting and the number of the counting shall be three. Four shalt thou not count, neither shalt thou count two, excepting that thou then proceedeth to three. Five is right out. Once the number three, being the number of the counting, be reached, then lobbest thou the Holy Hand Grenade in the direction of thine foe, who, being naughty in my sight, shall snuff it."
All this impending doom and gloom that I keep reading about here since very early this year... when exactly is it going to appear??
You keep saying that realtors will be out of a job, yet my phone continues to ring. While production was off this year, it was on pace with 2003. Meaning there is money still going into savings.
I can't speak for any other realtor, and I suppose that some realtors are now former realtors. But we lost realtors in the good times as well.
I'm guessing we lose anywhere from 7% to 18% in number of total realtors in 2007. You folks have to be thrilled with those kind of losses. Even still I bet folks still call realtors for services in 2007 and beyond.
As for the RE market, I have no guess to offer. I never do as I'm not in the financial advisor business. I leave that up to folks like you. You are certainly better at it than me. Where should I be putting my savings from the earnings in real estate this year??
I am not a troll, but I do not believe that the housing market will be allowed to collapse. Too many important electoral voters make their living (estate agents etc) or benefit from the it (average middle class family).
If Keith you are living in England, you may remember that the conservative party was re-elected in 1992 even though their was mass unememployment, but a still relatively healthy housing market. It was only after a long period of house price reduction, that they truely became unelectable. Do you not think that the republicans have learned not to allow any prolonged decline in house prices? Do you think President Bush would have been reelected in 2004 if home prices would have been falling?
Troll Brothers Real Estate To Enter Laundry Business (V-TV)
Blue Balls, PA
Troll Brothers Realty (NYSE:TROLL) announced today a major restructuring into the laundry business. No details were disclosed, but sources close to the company said it had something to do with money, and more surprisingly - laundry itself. It appears that for a fee, Troll will hookup prospective launderers with discriminating consumers who need the shirts off their back cleaned.
All you Pennsyltuckians out there - cast your vote for all challengers, except Fast Eddie.
Keith
Sign me up - I'll help with blasting trolls!!
"when exactly is it going to appear??"
uh, it already has. but some are too dumb to notice
Todd Tarson said...
All this impending doom and gloom that I keep reading about here since very early this year... when exactly is it going to appear??
You keep saying that realtors will be out of a job, yet my phone continues to ring. While production was off this year, it was on pace with 2003. Meaning there is money still going into savings.
On par with 2003????? You are bragging about that???? That was three years ago (and about 12% ago - inflation wise).
I actually laughed out loud when I read that. If anyone I know was making the same thing in 2006 that they made in 2003, they would have quit their job by about April.
Dude, you have to think things through before you post - you just embarrassed yourself.
Its nice that you are still able to "save money". That is a real accomplishment in America these days. Of coure, in the rest of the developed world and even in America until about 1995 - that would just be considered normal.
What a joke.
nick c
>Maybe you should invest in some new homes in Kingman AZ with Todd - I'm sure you can get some ARM loans from his broker
My broker doesn't do loans, and I don't refer clients to lenders.
>Todd: Congrats if you are actually making money and doing well. Everyone has to make a living, and being a relator is one way to do it. I would hope that you undertake your business ethically, as MANY realtors do not, and give the industry and honest realtors such as yourself a bad name
I'm not worried about other realtors and if they give 'me' a bad name or not. I work for my clients, I do their bidding.
I will say there are idiots in my line of work as there are in any line of work. Although I must tell you the majority of agents are ethical.. way more than will get credit as the bad apples are spoiling the bunch.
I have no problem with sites like these pointing the bad apples out. I openly ask people to file ethics complaints against realtors that have been unethical... or at least not to hire them.
Nick C.
By bills are paid, just like they were in 2003. In fact my bills have been basically the same for many years.
Nothing to be embarrassed about really.
"Don't worry comrade, I'll delete myself again later. "
why - just don't post off thread or rude stuff and save yourself the effort of deletion.
Richard,
Keith thinks you are a Troll.
But I know better. (:
I do not think he likes me very much either.
In England now, the house prices have stopped falling, and have begun to rise.
If you notice the 10 year interest rate is now approximately 4.5%, ie it has been falling, thereby making all those APR resets much less of a problem
As I say, their will be no housing crash, because it is cheaper, and safer for the bankers, real estate agents, politicians etc, to keep the housing bubble going.
They have learned what happened to the Enron management and so will do whatever is necessary to keep the game running
40 year mortgages,
Part ownership of houses,
Changes in tax law,
This site reminds me of all those bear sites in 2003, who said the DOW was going to 5000, and you should just buy gold and shot guns to keep the staving masses away
Only stupid people buy Real Estate, right?
flying and richard - when you're good you're really good, when you're bad you're really bad
the blog is better when you're good
as to the last poster on london - just because property went up in london the past year, to even more insane heights, makes the coming crash in london values even more likely.
and man, it'll be spectacular.
The housing bubble won't be allowed to collapse? What, another "the government is my mommy and daddy" person?
There isn't anything the government can do to prevent the crash. The asset values are going down. Even a 0% interest rate on a mortgage means you still lose money as time goes on. Only stupid people are buying now and soon enough, all the stupid people will be broke so no more available to buy houses. Although, there must be a chronic underestimation of the number of stupid people out and about.
Japan had 0% interest and that still didn't stop their plummet.
Unless the current buyers are paying 50% of what people were paying last year, they are going to lose money as this thing plays out.
Don't forget, there are a lot of stupid people out there and this housing crash can be viewed as a stupidity tax if you want to see the bright side of it.
Todd Tarson said...
Nick C.
By bills are paid, just like they were in 2003. In fact my bills have been basically the same for many years.
Nothing to be embarrassed about really.
There is nothing embarrassing about have a stagnant income - I wouldn't begrudge someone for that. But it is embarrassing to brag about it.
If it was me (and it could be some day - as I work in hedge funds and it business will probably turn down at some point), I'd keep my head down and my mouth shut.
Your bills have really stayed the same over the past 3 years. Considering that electricity, nat gas, water, base metals, precious metals, education costs, insurance, anything service related, rent, housing prices, interest rates and food have all risen significantly [some doubling or more] in the last 3 years - I find it very, very hard to believe that your bills have not increased in that time period.
In fact, I call bull$hit.
P.S. The only things that have come down in price are plasma tvs, IPods and the like (and those aren't generally considered "bills").
nick c
I can't believe I forgot some obvious ones. Gas prices, ticket prices for any type of show/event, drycleaning, nanny wages, and foreign currency prices (for traveling abroad) and I'm sure many other things that I am forgetting have also gone through the roof since 2003.
To show some balance, I will say that cell phone bills, and cable/internet prices have come down a bit - so that helps mitigate but certainly does not compensate for everything that has gone up.
last posting was nick c
KEITH
If I was to agree that the London housing market was going to collapse, would you agree with me that this woulds seriously damage the banks and building societies.
If their balance sheets are that damaged, why would they make further loans to enable the readers of this blog to buy housing at the cheaper rate.
How many of the readers of this blog can pay cash for a house?
How many with that amount of liquidity would choose to tie their money up in housing?
I speak from personal experience since in 1993/4 ( the bottom of the last housing crash) it was very difficult to get mortgages on houses.
All the creative financing to escape what is due the Piper only prolongs the inevitable and makes the eventual crash all the worse.
This housing bubble itself was the byproduct of the attempt to rescue the economy when the NASDAQ crashed.
You'll see. It will take one trigger event to bring down the entire marshmallow palace.
I predict that event will be the downgrading of the Real Estate Investment derivative market when the glut of bad loans becomes undeniable.
This is 4 to 6 months away to take an educated guess.
The U.S. is the bubble headed wench that the world (mostly China) is keeping around for its own purposes. When we are no longer useful, they'll pull the rug out by giving us back our hyperinflated dollars and moving to gold, oil, land, weapons or the euro to perserve the value of their profits.
Why would they act in a way that would destabilise their main customer?
It is in the interests of the Chinese, Japanese to keep the American housing bubble alive - who else in this world will buy all their crap.
How many times have foreign governments been net Sellers of American treasury bills or Fanny May bonds?
Next you will be telling us that they are buying gold
Why did you delete all of those fine, informative posts by the holistic hebrew?
Thank you for those posts that bring a little rational thinking and sanity to this blog. The central bankers all know they must hang together or they will surely hang separately.
They will "fix" the debt problems through monetary policy and devaluation in currencies. Will there be pain in local markets and economies? Yes of course, just as in the past. Will there be a global depression or melt-down as the doomsayers on HP predict? Not likely at all because the stakes are too high to allow something like that to occur.
Next you will be telling us that they are buying gold
The Saudis Are Buying Gold by the Buckets full.
SAUDIS buying gold
You have been listenening to gold bugs again. Next you will tell us that price of gold will hit £4000 and silver will be selling for £100.
Stop listenening to the gold bugs cool aid of how the dollar is going to decline to nothing.
You will grow richer buying stocks and bonds
Rise in demand for gold in Saudi Arabia more than double worldwide levels
Posted: 13-03-2006 , 10:53 GMT
While demand for gold in 2005 rose worldwide by some five percent, in Saudi Arabia demand increased by 12 percent, and 13 percent in terms of retail investment along with gold jewelry. Gold
Saudi Arabia's strong economy, according to the annual report of the Dubai-based World Gold Council (WGC), was the main factor behind the discrepancy.
This increase is also attributed to high oil prices and strong economy conditions in those countries as well as tourism.
Demand, therefore, is expected to continue on its current upward trend through 2006, the report said according to Arab News.
Other countries in the Middle East such as Turkey, Egypt, Kuwait, Bahrain, Qatar, Oman, and the UAE also experienced a rise in demand for gold.
"flying and richard - when you're good you're really good, when you're bad you're really bad"
the good, the bad, and the ugly...
so the only ? left is are we ugly...??
Richard,
You're the good, I'm the bad, Keith is the ugly.
Has to be that way, because I am really good looking for a monkey.
“Don’t feed the trolls”
I must disagree. They are a great indicator of market conditions. As the market continues the downward spiral, you can bet you’ll see more trolls out and about. Furthermore, if you really stand back and calmly study their arguments, i.e.“it’s never a bad time to buy”, “buy now or forever be priced out” ect…ect…ect…we’ve heard it all before. No facts, no figures, just gut feelings and desperate comments to save their commissions and/or equity.
The next REI argument? In a span of less than two to three months we’ve heard: “It’s a buyers market BUY NOW, BUY NOW!! (or forever be priced out)” sad to say, but some folks have bit. However, not enough folks to put a dent in the market.
As we systematically and logically shoot holes into any argument the REI/trolls make, any newcomer that reads the bolg(s) will have great ammunition at the next open house. It’s empowering to see the jaw drop on a realtor when you’ve done your homework.
who doesn't?
Welcome back hebrew house lender!
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