Is fear now driving this market?
October 10, 2006
Subscribe to:
Post Comments (Atom)
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)
33 comments:
Maybe not yet but it soon will be....
unfortunate price parity at irrational levels, fear, buyers and sellers!
Ohhhh you can smell the fear in the air.....
Fear at the realtor level and also hunger too!
No fear here, boring indifference.
What little housing industry we have, and even that died overnight, "will pick up in the spring"
Just back from Atlanta, GA. Commercial construction is booming, people are buying houses and condos. People are spending money.
Talked to my brother in Dallas, TX. Economy is booming there and even in little towns like Corsicana.
No evidence of a HP in either place.
Yeah I agree, places around the US is still moving along. Both commercial and private real estate. Yes, there are many over priced areas and live beyond your lifestyle. I'm in southern Virginia and there is tons of commercial projects and houses going up. One place that will get hammered is Southern California.
Fear is hitting housing but other asset classes are still in pollyanna nirvanna.
Fear+Loathing will take about a year or two to mop up liquidity flood sloshing around in DJ, Commodities, Paper.
The hardest part is knowing when to go short. You can get killed by a bear rally if you're short too early. A few more hedge fund melt downs still to come before panic sets in across all investment classes.
Its Y2K all over again! The sky is falling and its the end of the world. Get really its going to be fine.
"No evidence of a HP in either place."
I was speaking to my broker in NY on the morning of 9/11/01, my concern was events on the world stage having an impact on the economy, and both he and his collegue assured me that there was no evidence to support any of my concerns...
I live in a pretty isolated, resort like community. The condos and first tier lake front here have run up pretty damn good in the past few years. There's been a lot of McMansion type million plus dollar holmes (which is a hell of a lot of house here, unlike mexifornia or Florida) built on the water recently as well. I've talked to a few realtors, and I get a mixed bag of answers about prolonged market times, price declines ect. I think its just the McMansions that are staying on the market longer so far, but even they seem to be selling. This is a unique market though, it is mostly a second home community for the super rich, superficial and super stupid.
Bought from a FB out of my fear of Landloard Flippers!
My mortgage/taxes and HOA fee conmbined are lower than rents are in the area and I am ready for anything (in theory).
Butch was right, as a sidebar. My buildings insurance, which was $120,000.oo per year was CANCELED and now we are insured with Citizens. The cost went to $340,000.oo overnight.
There goes my $116.00 a month HOA fee of which 27% goes to insurance.
Still, very happy I bought. I have great fear of Crazy Landloards, I love this community and the schools.
I can withstand a 30% drop in Local Prices before I start loosing $.
This neighborhood is a safe bet, but I will keep all up with the local news as things happen, if there is an interest.
I may be a little paranoid about whats gonna happen all over the country here real soon. I'm hoping to scrape together enough cash and sell the house I'm in currently (I put down a significant amount), buy a little land out in the woods, and build a modest structure without borrowing any money. This would leave my without any funds whatsoever to invest, but I would have a roof over my head paid for. Paranoid?
It's still Denial ... everybody who has a house is in denial...
Once fear hits we will start seeing things fall a lot faster as people try to bail out.
It is possible that people with debt will be in better shape than they expected, devaluation of the dollar, gov bail outs etc.
It is possible that people with debt will be in better shape than they expected, devaluation of the dollar, gov bail outs etc.
Yes, I agree with this statement. Modern day capitalism rewards debtors at the expense of savers. It's only when things go really wrong that savers regain the upper hand. Look around, are things really as good as they seem or is it just an illusion? Even an illusion can be maintained for decades...
For now and the forseeable future however, the spendthrift will come out ahead. There were lots of people who swore of stocks in the 1930's and never invested again, because they kept waiting for the next collapse. Most of those people are gone now, never realizing their fears. Waiting for a statistical anomaly is a bad bet, in my opinion.
Got Credit?
It's a mix of denial and fear here. Daily, I see new flipper houses in historic district (Frederick, MD, an hour + from D.C.) are being listed "as is" without reno work. Last year and before, they'd have tarted them up and commanded high prices. Also, out- of- town speculators bought up rowhouses in the black section, anticipating windfall from downtown development plans, but appear to be bailing fast, sans reno. They raised rents and forced out small, longtime black-owned businesses. I hope they get burned, and they probably will, since the area is rough and has a brisk drug trade.
North Korean official says it will fire nuclear-tipped missile if U.S. doesn't engage in one-on-one talks.
Necon-scare tactics..this maybe that October surprise we peak of.... would love to see the implications of this.
But then again this is quoted on FOXNEWS! so who knows what is really being said
in both directions.
UP - fear of being priced out
DOWN - fear of being underwater with home payments
"It's still Denial ... everybody who has a house is in denial..."
Not true. I own a home and I am in total acceptance that the drop is underway. I expect to take at least a 35% haircuit here in SoCal. But since I bought pre-bubble and over 100% equity, I dont give a shiat. The inrefined, innacurate Zillow says my home actuall went up in value. LOL!
Not really. Realtors are the first to feel the fear since they are the ones starting to starve...
I notice belt-tightening among friends but it is not like most people admit (or even conclude) that it is because their housing expense is too high...
"I notice belt-tightening among friends but it is not like most people admit (or even conclude) that it is because their housing expense is too high..."
My PITI is 28% of my take home pay (bought in 2003 pre-bubble), just got a promotion with 18% increase AND I still tightened my belt another notch this year. How the hell can people with increasing mortgage payments survive is beyond me.
InfidelWoman 5:14:07 wrote:
“This neighborhood is a safe bet, but I will keep all up with the local news as things happen, if there is an interest.”
----------------------------------
Yes - please keep us HP’ers posted!
These days it is important for us to share anecdotal evidence of what is really going on out there, to counter the standard bs that is presented in the msm.
Also, some of us come to HP to read original writing by bloggers, as opposed to articles that are simply copied from somewhere else and pasted here.
HOMEOWNERS ARE STILL IN DENIAL PHASE. FEAR PHASE WILL FOLLOW SHORTLY!
I will never loose touch with the fact that this devastating meltdown in housing, the exploding inventory, foreclosures etc. are not just arbitrary figures. Behind every number is an American citizen. Most have families, children full of youth growing up, not able to understand the economic situation of their parents, extended families with grandparents that have raised a generation and contributed culture from all corners of our earth. When we see those falling numbers I know how personal this collapse will become. Many of us define our self worth as our net worth. When our net worth takes such a huge hit, I know that the damage is much more than just numbers in a bank account. It will also hurt those who understand it the least, our next generation. May God bless the future of America.
NOT EVEN!
GREED and DENILE RULE!
NO FEAR.......YET!
sorry.....it's denial?
my bad?
No, Fear just got on the bus. It will take a while for it to pass all the other passengers on a very full denial bus and take over from the denial bus driver and flip the sign quickly.
Once route sign is flipped all the denial people will be stuck on the fear bus. They'll be like I'm on the wrong bus. I missed my bus. Eventually the fear bus will crash into a wall of whatever the next stage is.
Love, Coconutz!
The entire country has been running on fear since 9/11.
fear of terrorists
red alert, orange alert, etc
fear of immigration overdrive
they'll take your job and stick you with theire health care bill
fear of gays ...gay marriage (this one is the stupidest of all)
fear of being perceived as 'unpatriotic' (the GOP worked this one but good)
fear of what the Democrats would do if they got back in power (like it could be worse???)
fear, fear, fear
the Republicans have figured out they can win elections every time as long as they get us fearful enough..
when the heck did we get to be such pussies in the USA?
"Anonymous said...
Even an illusion can be maintained for decades... "
That's great; hit the nail right on the head. The bubble areas will take a beating, they earned and deserved it. The rest of the country will go on like nothing has happened. Even a minor illusion, like reduced (or should I say manipulated) gas prices, has got the sheeple in an upbeat, spending, world is fine again mood.
If and when the bad times come, I think it's going to take something major, occurring out of the country, to bring about a sharp and fast downturn. Otherwise the GOP and/or Dem's will prop this turkey up forever, maybe longer, if they can(TO INFINITY AND BEYOND?) Just too many areas in this country like mine, where buying/selling/flipping has NOT been the national pastime over the last five years! Fear, anger,denial,......crap, still can't get on the bubble scale here!
You mean like the Bullshit that Al 'Fucking' Gore is spewing about the environment....that's not a scare tactic?
That dumb S.O.B. admitted in an interview that we have 10 years left if we don't do something about it, but he said he's been talking about it since the 70's!
Well, that's a little more than 10 yrs. and I'll be damned we're still here!
So scare tactics are spread quite evenly amongst the exalted!
Just saw one of those RE adzines (MD DC burbs). Lots of "help with closing" to the tune of $10k, and couple of $100k price reduced listings, but everything still sky high, natch.
Post a Comment