October 27, 2006

HousingPanic Stupid Question of the Day: Are Bubbles Still for Bathtubs?



I love the condoflip morph into a panic site for desperate condo sellers, versus a profit site for easy condo flipping.


Check out the "panic buttons" where you can select your level of desperation as well.

I think they need more levels now...

I'm also reminded of the idiot Donald Trump Apprentice winner, Kendra Todd, who wrote recently:

"You can't go anywhere without hearing people talk about "the real estate bubble." Such talk drives me to distraction, and I'll tell you why. It's because there is no real estate bubble. Bubbles are for bathtubs."

Well, I guess the little kid found out that no, bubbles aren't just for bathtubs. They're for idiot kids playing "investor" to get caught up in, since they have no sense of history or financial education, thus losing hundreds of thousands or millions of other people's money, while they skate off into bankruptcy court.

Bubbles are for tulips. Bubbles are for dot-com stocks. And bubbles are for houses.

10 comments:

Melsky said...

I think they'll need to put a few more levels on their panic buttons pretty soon. Or, just go out of business. Is anyone really buying and selling pre-construction condos anymore?

delilahboyd said...

Your paragraph about
idiot kids playing "investor"... since they have no sense of history or financial education
reminds me of my blog post yesterday, "What's One Young Neighborhood Landlord To Do?"

Hint: the neighbors don't call him a genius anymore.

tabasco jenkins said...

Did you notice from Kendra's article that she is apparently the host of a show on HGTV called "My House is Worth What?"......"My house is worth 300K less than I paid for it????" Talk about a show destined for future cancellation.

Anonymous said...

Here in Central Florida the landscape has been bought up by these type of greedy, absentee asshat flipper/landlords.

I know of a young couple here at work that moved into a rental home after passing the smug assh0le landlord's credit/background check....only to have a Lis Pendens filed on the property a month after they moved in.

Lesson: Make sure you do as much homework as you can on a potential landlord. Check property taxes, amount paid, go to county court website and look up the mortgage for the property.

Does said greedy asshat landlord own multiple properties ? How long ? Got IO or ARM's ? When do they adjust ? If they are young, greedy and stupid don't rent from them.

Cheap rentals may be easy to find here in Florida, but finding a decent landlord may be the real challenge.

trailer trash said...

delilahboyd said...
Your paragraph about idiot kids playing "investor"... since they have no sense of history or financial education reminds me of my blog post yesterday, "What's One Young Neighborhood Landlord To Do?"

Hint: the neighbors don't call him a genius anymore.


GREAT article! So there really are 8 million Casey Serin stories in the naked city.

Drivin' that train
High on Cocaine
Casey Serin you better
watch your speed
Trouble ahead
Trouble behind
and you know that notion
just crossed my mind

-Grateful Dead

FlyingMonkeyWarrior said...

Cheap rentals may be easy to find here in Florida, but finding a decent landlord may be the real challenge.
_____
Hey, exactly my rant. You are so right. Nothing worse than a physco broke slum lord.

Anonymous said...

how about a color coded alert tower like homeland security uses to let us know how on guard we should be?

Anonymous said...

Tabasco,

I dunno - there are definitely enough of us to support that show, from a schadenfreudian standpoint. They just need to tweak the intent of the title a little...

Anonymous said...

Why do you think that most rich people are old? Few, and I mean very few, young people get "early retirement rich." Who makes $5 million before their 30th birthday?

And not only that, how many people who are under 30 years old have the self-control and foresight to hold onto that money for life?!

I sold my 40% interest in a McMansion to my co-investor and now he has 6 roommates and sleeps in the laundry room! His property taxes on the place are 70% of my rent and I'm not chained to a 30 year mortgage. Got out in early '05!

I may never buy in this county again, but I would rather retire early than have to pay $1 million for a house! I don't care what the f*cking weather is like; I don't make 6 figures, so I don't belong here.

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