November 22, 2006

BUBBLETALK: November thread to talk about the late great housing bubble ponzi scheme


Post articles (tinyurl), rant away, keep it clean, have a good chat

463 comments:

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Anonymous said...

where is page one?

angie said...

Wish you success with your site. If you need Travel Brochures information, check out my blog.

Anonymous said...

You know it's getting bad when Whitney ends up in foreclosure!!! Check out the link:
http://www.accessatlanta.com/entertainment/content/shared-gen/ap/Recordings/People_Houston.html

Anonymous said...

I've lived in So Cal for 34 yrs., and yes we have an illegal problem!

Just returned from a quick trip to NW Ark. The amount of Mexicans most likely illegal (because most seem to be now) was Shocking! I cannot believe the rate at which they are pouring in there! The locals are now starting to realize they may have an unstoppable problem!
Good luck!

Benvolio Montague said...

The red hot markets in Canada are getting the plague now too.

http://www.theglobeandmail.com/servlet/story/RTGAM.20061116.wcrea1116/BNStory/Business/home

Anonymous said...

Anonymous:

You said Greg Stone has to sell for 30% less than his asking price and that shows a housing slump in the area.

I would ask: How much did Greg originally pay for his property and how long ago was it that he purchased said property.

If you don't ask those questions, how do you really know anything. Anybody can ask anything they want for a piece of the earth but that doesn't necessarily mean they are going to get it let alone if it is even in the ballpark of what should have been asked in the first place. That would be the same as if I paid 100,000 for a house last year and said I listed it for 1,000,000 this year but signed a contract for 500,000 (a 50% reduction in the original asking price). Unless you knew when and how much prior to me selling, who cares. Catch my drift. People need to realize that property will not be seeing the tremendous returns that happened recently, but that doesn't mean that, across the nation, housing is horrible, it means that people are remaining unrealistic as to what THEIR property is worth. Those same people are probably the ones who paid way too much to begin with and pushed values through the roof (and look what it has caused). There are plenty areas in the country that are still affordable, you just have to look in the right places. BTW - consumers, you and I, set property values. We need to stop blaming Realtors and NAR (which I hear way too often nowadays).

Anonymous said...

Anon above
Dont get your g-string allin a bunch, relax. So how is that 60 year Interest Only Option ARM going for you? Good move buying at the peak 8/2005. Let us know when the H@ is on the block and the granite countertops are on eBay.
CHeers biatch.

Richard said...

"where is page one? "

goto

www.lifeaftertheoilcrash.com

Home page is page one.

Anonymous said...

You people need to masturbate more often.

That's why there's so much anger on this blog.

Benvolio Montague said...

As Richard so succinctly put it, things are bad. Did you see the October housing data? Ouch.

hcooper said...

To anonymous and the "Gstring in a bunch and a 60-yr ARM" comment.

If that was directed to me, the one who commented on Stone, here is my actual situation:

Purchased home in 2003 at a fixed 30 at 5 1/4 and will soon be under contract to sell at a 30% profit. Not too bad, huh? Albeit, I don't live on the coast in a highly overpriced market.

Like I was saying, the market isn't so bad in all parts of the country. Only when people use speculative investing in the housing market and pay WAY TOO MUCH for something do you get comments that make it look like the sky is falling. People shouldn't have purchased if they knew they would have to sell.

Some advice - "Don't sell if you are going to lose money". Sounds rather simple now doesn't it?

hcooper said...

And one more thing for Anon...

In the Smart Money article you refer to (Stone), did you manage to check page two and see where Gus Ramirez made one helluva deal in another overpriced locale - Miami. He probably paid too much in his situation too, but taken at face value, it seemed to be pretty good, huh?

Check it out

Richard said...

http://www.sfgate. com/cgi-bin/ article.cgi? file=/c/a/ 2006/11/16/ MNG6AMDKM41. DTL
USDA drops 'hungry' from annual report
Lack of food will be labeled as 'very low food security'
Elizabeth Williamson, Washington Post

Thursday, November 16, 2006


(11-16) 04:00 PST Washington -- The U.S. government has promised that Americans will never be hungry again. But they may experience "very low food security."

Every year, the Agriculture Department issues a report that measures Americans' access to food, and it has consistently used the word "hunger" to describe those who can least afford to put food on the table. But not this year.


Mark Nord, the lead author of the report, said "hungry" is "not a scientifically accurate term for the specific phenomenon being measured in the food security survey."

Anonymous said...

HOLY CRAP, it's Chicken Little in the flesh. You cannot believe everything you read in this Blog. Do your own research, the headline about Engle homes is absolutely false.

Anonymous said...

BINGO............Mr. Stone.

I put my house on the market for 399k in Florida. yes, I reduced the price and contracted at 360k. Thing is, I paid 210k just over 3 years ago. Yes, the market has slowed. No it is not upside down. I am not disappointed with my return.

hcooper said...

Looks like someone else (see above) just made a nice profit (71%) in Florida even though he had to take a 11% cut in asking price. On the surface (without knowing the facts I mentioned before such as price originally paid and time), it would seem as though the market was tanking fast.

Makes you wonder, Anon, if maybe you should've picked a better career than a wanna be actor, surfer, whatever and moved somewhere other than the coast. Prices are too steep in those areas, especially for waiters.

Just sell now (you know you overpaid), take your 30% loss and move back in with your parents - noone will tell.

Anonymous said...

http://www.msnbc.msn.com/id/15764367/

Why is it that any time there is bad housing news, it's labeled as 'unexpected' or 'suprising'. Exactly who is it suprising to?

On a high note, here in the midwest, I offered a homedebtor 25% lower than his asking price, only to have him call me back asking if I'm joking. I replied that I hadn't seen the asking price, just the for sale sign. We chatted for a bit and he admitted though he can't afford to take my offer, it is the first call he's had in 3 months. He had one showing in August that lasted all of 5 minutes, and his realtor won't return his calls.

Personally, I'm watching the foreclosure numbers and will probably pick up a courthouse step foreclosure sale next fall. God help you bubble-buyers.

FlyingMonkeyWarrior said...

Orlando homes holding their value


Posted November 17, 2006, 11:17 AM EST



Despite a decline in the number of closings, homes in the Orlando area are holding their value: The median price of homes sold in October increased by 5.31 percent to $259,900, the Orlando Regional Realtor Association reports today.

A total of 1,792 existing homes changed hands in October, a 24.3 percent drop from the number of sales closed in October of 2005. Year-to-date sales of homes -- 23,581 -- in the Orlando area have dipped below 2005's red-hot record-breaking market, with 9.2 percent fewer homes sold through October.

But ORRA President Randy Martin notes that Orlando's housing market is still on target to post its second-best year ever, and that conditions are ideal for buyers, with interest rates at 40-year lows, and inventories at their highest level in decades. Interest rates in October fell for the fourth consecutive month and to the second-lowest level this year, to 6.05 percent.

The inventory of homes available for purchase has expanded to 21,324, a 4.94 percent increase over September. Just over 1,000 homes were added to the pool during October; Orlando now has an 11.9 months supply of homes on the market.

-Sentinel Staff Writer Jerry W. Jackson



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orl-biznews-housing111706,0,4266879.story?coll=orl-home-headlines

FlyingMonkeyWarrior said...

Friday, November 17th, 2006
Dutch government proposes a ban on wearing burkas in public
Canadian Press

THE HAGUE, Netherlands (AP) - The Dutch government said Friday it plans to draft legislation "as soon as possible" banning full-length veils known as burkas and other clothing that covers a person's entire face in public places.

"The cabinet finds it undesirable that face-covering clothing - including the burka - is worn in public places for reasons of public order, security and protection of citizens," Immigration Minister Rita Verdonk said in a statement.

Basing the order on security concerns apparently was intended to respond to warnings that outlawing clothing like the burka, worn by some Muslim women, could violate the constitutional guarantee against religious discrimination.

In the past, a majority of the Dutch parliament has said it would approve a ban on burkas, but opinion polls in advance of national elections on Nov. 22 suggest a shift to the left, and it is unclear if a majority in the new parliament would still back the ban.

Once the cabinet drafts the bill, it is sent to the 150-member legislature for enactment.
Top 10 most read stories
Canadians consuming more paper despite computers, says StatsCan studyNew York money-laundering case against Quebecer delayed until next monthSmall tsunami waves hit Japan after strong offshore earthquakeDefence Department looks for ways to reduce greenhouse gases: documentsAfghans say dozens of civilians died in clashes; NATO questions claim'Grey's Anatomy' star Ellen Pompeo and her boyfriend Chris Ivery, are engagedFamilies shocked by sentence for Winnipeg couple who sexually assaulted teensRCMP believe alcohol factor in fatal crashRumours narrowing on Lake Bracciano for Cruise-Holmes Italian weddingA fare to remember
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Anonymous said...

FMW,

Check out this post up above:
Wednesday, November 15, 2006 4:49:38 PM

FlyingMonkeyWarrior said...

Dear Anon,

HOW COULD I MISS IT!
hehe

Yea, I read every word and saved it to a word file because I figured Keith would delete all "Bible Long" posts.

Richard, Dick to Many, broke the www.Tinyurl.com rule.

Bad Richard, Bad.

Anyway, I am moving forward with the solar generator/table top water distiller system for retail and survivor preparation. In the final stages of R and D.

Just in case anyone is interested.

Mammoth said...

FMW,

Where is the link for more information on this?

Thanks,
-Mammoth

FlyingMonkeyWarrior said...

Dear anon,
4:49:38 was my son. He is a closet HPer and a flamer. He can use the computer all he wants and he really give me a hard time about HP.
We have had three hurricanes, a fire (one alarm) a flood (small), and a fight with the IRS, my new car blew up in the fire and a five year legal battle with my home owner insurance company, all since 2001, so he is a little un trusting of things.
We have been in emergency housing a total of 17 different rentals, mostly Marriotts, and Embassys for months on end. It has been a nightmare for me, and him I assume.
So, it created a young cynic, I reckon

FlyingMonkeyWarrior said...

Dear Mammoth,
I am the link. It is still in R and D, I will go to contract within the next two weeks.
My e mail: flyingmonkeychick@yahoo.com

FlyingMonkeyWarrior said...

PS; Before the catastrophes, I owned a 3 bed room 2 bathroom home, paid for, and we had a very happy stable life. If you think you own your home, think again, you do not.
Oh, and the insurance settlement for the destruction of my paid for 3 br 2 ba on the golf coarse? I was compensated by the insurance company in 2001 prices about 5 months ago.
Welcome to the matrix.

Now, I am into solar and survival.

Been there done that.

Surviving catastrophes that is. (:

Anonymous said...

Housing construction plunged in October as builders slashed activity to the lowest level in more than six years.
Further declines were expected as the five-year housing boom turns into what is being described as a "housing recession."

http://biz.yahoo.com/ap/
061117/economy.html?.v=12

mammoth said...

Feel free to check out the thread 2 steps down (“HP is off to Rome for a few days - use this thread to talk amongst yourselves, post articles, have a good chat. The blog is in your hands HP'ers.“) - we’re having a discussion about cars & collectables and how they relate to housing, investing, etc. Let’s do Keith proud here.
-Mammoth

Anonymous said...

FOREX-Dollar tumbles on talk of hedge fund trouble

The dollar declined sharply across the board on Friday, as traders cited talk that a large U.S. hedge fund was in trouble.

When will foreign central banks start pulling money out of US treasury?

Anonymous said...

Freddie Mac buys back about $3.5 bln debt

Freddie Mac the U.S. home funding company, on Friday said it repurchased about $3.5 billion in European-style debt with expired call options.

On Nov. 1, Fannie Mae said it bought back $4.156 billion out of $21.04 billion targeted for possible repurchase.
The transaction was the company's first such buyback of these securities, also known as busted callables,
since repurchasing nearly $5 billion in September 2005 of the $19.2 billion it had selected for possible buyback.

FlyingMonkeyWarrior said...

Mammoth,
thanks but i have to go to work now.
e mail me.

(:
iw

Anonymous said...

Treasury Alters Approval Process for Fannie, Freddie Debt Sales

Fannie Mae and Freddie Mac, the largest U.S. mortgage finance companies, will be required by the U.S. Treasury each quarter to justify the amount of their debt sales before issuance, a senior Treasury official said.

The Treasury Department concluded a six-month review of whether $15.8 billion in accounting errors at Fannie Mae and Freddie Mac should require the department to tighten standards for approving debt sales by the government-chartered companies.

The proposed changes will likely take effect in the first quarter, establishing a more formal structure for the Treasury to review and approve debt sales by the so-called government- sponsored enterprises, the Treasury said at a briefing today.

Anonymous said...

Summit Financial Group Inc. on Friday said it plans to either sell or close its residential mortgage loan origination unit due to the unit's poor operating results, and will take a related charge in the fourth quarter.

The smart financial companies are getting out of the mortgage banking business before the blood bath begins

Anonymous said...

BoJ to hike interest rates in near term

Analyst Annick Pierard of ING Financial Markets says there is increased probability of a hike in the interest rate by the BoJ (Bank of Japan) during 1Q07.

In a research note published this morning, the analyst mentions that at its recent meeting, the BoJ has decided to leave the overnight interest rates unchanged at 0.25%. The BoJ has recently expressed its concerns regarding the impact of a weak yen, which would lead to excessive capital spending going forward, the analyst adds. ING Financial Markets believes that the central bank is likely to raise the interest rates to allay the depreciation in the yen, in view of the recent GDP results.

Will a stronger Yen and weaker Dollar have an impact to the Yuan?

Anonymous said...

In an interview, UAE Governor Sultan Nasser Al Suwaidi said his central bank has yet to start increasing its holdings of euro. The U.A.E. said in June that it held about $24.5 billion of foreign reserves, of which 98 percent were in dollars.

Al-Suwaidi, who last month said he planned to increase his country's reserves of euro, said the dollar would be eclipsed by the European single currency within the next decade.

``The euro will definitely grow to dominate trade outside the euro-area,'' he told the conference. ``I expect the euro to become the currency of international trade within 10 years. It will surpass the dollar by 2015.''

Asked if the UAE would diversify into the yen as well, he said: "Even when you see Japanese trade transactions they are in US dollars. It's not a currency. It's very much controlled by the central bank of Japan and it's lost some of its ground. I would say it's lost confidence."

"Usually it takes a large shock'' to displace the world's main currency, examples are the pound and Dutch guilder.

The dollar is down across the board, having sunk slowly Friday morning on the back of weaker-than-expected U.S. housing data.

Anonymous said...

County's banks are discounting foreclosed homes

Banks are beginning to sell foreclosed homes at a discount amid a housing-market shift, said a report released Thursday.

In Orange County, lenders sold homes for an average discount of 3.8 percent in the first half of this year. That's according to a nationwide analysis of foreclosure sales by First American Real Estate Solutions, a unit of Santa Ana-based title insurer First American.

Among the areas with a higher discount rate in the first half of the year were the city of St. Louis, with a 46.6 percent discount, and the city of Baltimore, with 20 percent.

http://www.ocregister.com/
ocregister/money/homepage/
article_1356947.php

Anonymous said...

Kieth:

I have proposal for the question of the day...

How many first time buyers did you convince NOT to buy by sending them a link to HP and other bubble blogs?

My answer (so far): 4

Richard said...

November 16, 2006

Washington- Senator Chris Dodd (D-CT), an outspoken opponent of the Military Commission Act of 2006, today introduced legislation which would amend existing law in order to have an effective process for bringing terrorists to justice. This is currently not the case under the Military Commission Act, which will be the subject of endless legal challenges.

The Effective Terrorists Prosecution Act:



Restores Habeas Corpus protections to detainees

Narrows the definition of unlawful enemy combatant to individuals who directly participate in hostilities against the United States who are not lawful combatants

Bars information gained through coercion from being introduced as evidence in trials

Empowers military judges to exclude hearsay evidence they deem to be unreliable

Authorizes the US Court of Appeals for the Armed Forces to review decisions by the Military commissions

Limits the authority of the President to interpret the meaning and application of the Geneva Conventions and makes that authority subject to congressional and judicial oversight

Provides for expedited judicial review of the Military Commissions Act of 2006 to determine the constitutionally of its provisions

Anonymous said...

Borka?

What's your opinion?

Everyone wants to know!

Anonymous said...

With about a trillion dollars worth of adjustable rate mortgages due to reset in 2007 & 2008 more foreclosures might be coming. The foreclosure numbers are in an uptrend.

http://www.foreclosurepulse.com/archive/2006/10.aspx

The amount of wartime spending is projected to cost more than the value of Exxon. Exxon produced more than three times the amount of barrels of oil equivalent that Iraq has average over the length of the war. They also owned thousands of gas stations and more refineries than are in Iraq.

It would have been more profitable for the US tax payer for the government to establish a stream of coal to oil plants, or oil shale projects in the US than to build up the Iraqi oil infrastructure and provide "security" for them, in order for the Iraqi people "to have" the oil, rather than it fall into the hands of the somewhat secular government of Sadaam. Sadaam opposed the radical Islam that roamed the streets committing crimes in these past few months. There are more Al Qaeda in Iraq with Bush "in control" than ever were before they went and bombed those "evil doers". They have killed the good and the bad until the bad became more than the good.

FlyingMonkeyWarrior said...

Anti-Nuke Protestors Get Three YEARS In Prison in ND

BISMARCK, North Dakota - Three men protesting the presence of weapons of mass destruction in North Dakota were sentenced Thursday to federal prison terms of over three years and ordered to pay $17,000 in restitution by a federal judge in Bismarck. The three dressed as clowns and went to the Echo-9 launch site of the intercontinental Minuteman III nuclear missile in rural North Dakota in June 2006. They broke the lock off the fence and put up peace banners and posters. One said: "Swords into plowshares - Spears into pruning hooks.

http://tinyurl.com/yc4ye8

FlyingMonkeyWarrior said...

UCLA Student Tasing: Crime Student refused to show Student ID while studying in the Library.

This altercation has raised concern over whether the police abused their authority and used excessive force to remove the student from the premise. NIAC has called for a thorough external investigation to assess the situation and to reprimand the parties at fault.

Outraged students have provided pictures and videos in Student tube site.

In the face of student outrage the UCLA Acting Chancellor issues an Statement.

See NIAC's investigation

Report posted by readers:
UCPD officers shot a student several times with a Taser inside the Powell Library CLICC computer lab late Tuesday night before taking him into custody. No university police officers were available to comment further about the incident as of 3 a.m. Wednesday, and no Community Service Officers who were on duty at the time could be reached. At around 11:30 p.m., CSOs asked a male student using a computer in the back of the room to leave when he was unable to produce a BruinCard during a random check. The student did not exit the building
immediately. The CSOs left, returning minutes later, and police officers arrived to escort the student out. By this time the student had begun to walk toward the door with his backpack when an officer approached him and grabbed his arm, at
which point the student told the officer to let him go. A second officer then approached the student as well. The student began to yell "get off me," repeating himself several times. It was at this point that the officers shot the student with a Taser for the first time, causing him to fall to the floor and cry out in pain. The student also told the officers he had a medical condition. UCPD officers confirmed that the man involved in the incident was a student, but did not give a name or any additional information about his identity. Video shot from a
student's camera phone captured the student yelling, "Here's your Patriot Act, here's your fucking abuse of power," while he struggled with the officers. As the student was screaming, UCPD officers repeatedly told him to stand up and said
"stop fighting us." The student did not stand up as the officers requested and they shot him with the Taser at least once more. "It was the most disgusting and vile act I had ever seen in my life," said David Remesnitsky, a 2006 UCLA alumnus who witnessed the incident. As the student and the officers were struggling, bystanders repeatedly asked the police officers to stop, and at one point officers told the gathered crowd to stand back and threatened to use a Taser on anyone who got too close. Laila Gordy, a fourth-year economics student who was present in the library during the incident, said police officers threatened to
shoot her with a Taser when she asked an officer for his name and his
badge number. Gordy was visibly upset by the incident and said other
students were also disturbed. "It's a shock that something like this
can happen at UCLA," she said. "It was unnecessary what they did." Immediately after the incident, several students began to contact local news outlets, informing them of the incident, and Remesnitsky wrote an e-mail to Interim Chancellor Norman Abrams.

FlyingMonkeyWarrior said...

November 18, 2006

“V” Makes A Mark In DC

100 people show up, see link for follow up story and pic.
IW

Worldwide Interest in RTP Stirred

It’s working.

We are making good use of the powerful concept of en masse activist resistance used in the movie, “V for Vendetta.”

“V” is helping us as we build support for the unalienable Right to a Response from Government to our Petitions for Redress of Grievances regarding the Government’s violation of the war powers, tax, privacy and money clauses of the Constitution.

“V” is helping us as we educate the public about the First Amendment’s guarantee of our Right to Petition Government for Redress of Grievances.



http://tinyurl.com/y66rr5

Richard said...

http://today. reuters.com/ news/articlenews .aspx?type= politicsNews&storyid=2006- 11-19T174004Z_ 01_N19349552_ RTRUKOC_0_ US-USA-POLITICS- DRAFT.xml&src=rss&rpc=22

Senior Democrat renews call for military draft
Sun Nov 19, 2006 12:41 PM ET

By Jackie Frank

WASHINGTON (Reuters) - An influential Democratic lawmaker on Sunday called for reinstatement of the draft as a way to boost U.S. troop levels and draw a broader section of the population into the military or public service.

U.S. Rep. Charles Rangel, the incoming chairman of the House of Representatives' tax-writing committee, said he would introduce legislation to reinstate the draft as soon as the new, Democratic-controll ed Congress convenes in January.

Asked on CBS' "Face the Nation" if he was still

FlyingMonkeyWarrior said...

Says Lereah: "You'd have to go back to the Great Depression to find a housing period that is this unique."

http://tinyurl.com/y68un4

Richard said...

sweet posts FWM!!!

IDEAS ARE BULLET PROOF!!!!!!!!!!

FlyingMonkeyWarrior said...

Thank you Richard, Dick to Some.
I am glad you enjoyed them.
I like yours too. Posts I mean.
iw

Richard said...

And from deep within the inner circle - our death star Kissinger speaks.

I thought he was dead and his blood shared amongst his minions.

Kissinger: Iraq Military Win Impossible

By TARIQ PANJA
The Associated Press
Sunday, November 19, 2006; 11:15 AM

LONDON -- Military victory is no longer possible in Iraq, former Secretary of State Henry Kissinger said in a television interview broadcast Sunday.

Kissinger presented a bleak vision of Iraq, saying the U.S. government must enter into dialogue with Iraq's regional neighbors _ including Iran _ if progress is to be made in the region.

Richard said...

So much for the myths of the marketplace. In fact by 2012 China will surpass the U.S. in automobile production. Oil consumption by the Chinese will also surpass that of the U.S. by the end of the next decade. More cars and more drivers mean greater consumption of oil.

http://www.financialsense.com/captain/log.html

AnalysisGuy said...

Take a look at my market history & forecast report for Bakersfield, Modesto, Los Angeles and the US
http://homepricehistory.blogspot.com/. Reports that will published in a few days include Boston, San Diego, Las Vegas and Miami.

Anonymous said...

Keith...
Pep up...new data!!!

Home Sales Fall in 38 States, Data Shows.

http://biz.yahoo.com/ap/061120/economy.html?.v=11

Anonymous said...

People who have been selling homes,make used car salesmen look good!

foxwoodlief said...

Here is a listing for all of you who believe there are no affordable homes out there. This one is in San Angelo Texas, kind of like Las Cruces NM, town has about 100,000 people so larger. Lots of hosues all across America like this as long as you are not in one of those 26 bubble markets. Guess it depends more on not what you'll pay but where you'll live.
MLS#: 62481
Single Family
List Price $29,900
Address
101 W 17th St
San Angelo, TX 76901
Bedrooms 3
Baths 1
Sq. Ft. 1522
Age More than 35 Years
Roofing Composition
Fireplace None
Exterior Frame
Floors Carpet,Hardwood Floors,Vinyl
Stories 1 Story
Heating Jet
Cooling None
Schools Reagan, Lincoln, Central
Region Lakeview, Green Acres, Mesa Verde

sk said...

>>This one is in San Angelo >>Texas, kind of like..

a house that costs 29K?? Nice but I wdn't live there if they PAID me. San Angelo is the pits..

I had the misfortune to spend two 1 week periods there in 1995 at the GTE nee Verizon facility there. You had to go out of town to buy booze. Its all scrub out there - very unattractive landscape. And just nothing to do at night. The week I was there, all the office gals were really looking forward to the big show coming to town.. it was.. Julio Inglesias ! Jeez - coming from LA and London before that, this was such a shock..

To get a flavor of it and the people from there - read "All The Pretty Horses " - Cormack McCarthy - the opening and closing chapters are based in and around San Angelo.

Dreadful place. Enough of that rant - back to housing.

-K

foxwoodlief said...

If the town was closer to Austin or Dallas or San Antonio it could be tolerable. Of course the point I was making was that when one drives around the nation you can find lots of towns like San Angelo with lots of houses under $120,000. In San Angelo you can buy a fairly large and charming house by the University and some of the historic areas for under $100,000. Of course that brings the question back to cost in other areas. If 300,000,000 live in this country we all know that all of them can't live in La Jolla, San Diego, San Francisco, San Jose, Miami, Boston, NY city, Portland, Seattle etc and so the question of cost is so diverse and relative.

If a home costs $19 a sq ft does that necessarily make it a good buy? If a house costs $400 a sq foot does that mean it is overvalued because as a cost for an average home in the WHOLE USA it is double the cost? Then the question of age. Even in San Angelo if you want new you are going pay closer to $100 a sqft for a nice house where the older ones go as low as $13 a sq ft with most being around $50 a sq ft. Is a 3000 sq ft turn of the Century house in the ghetto in Buffalo a bargain at $20 a sq ft vs an 800 sq ft condo in Austin at $200 a sq ft?

It seems that too often this blog turns the whole world into a homgeneous blob where all houses cost four or five times income or people pay California prices or that a $300,000 house in SD is the same as a $300,000 housein Shrevport LA. Even in cities like Phoenix there are markets within markets and prices that range from cheap to expensive.

And this site treats all buyers and consumers the same when there are vast differences in incomes, down payments, lenght of time when people bought, debt loads, family size, etc. As I use to tell co-workers at the hospital, it doesn't matter if you make $100,000 if you spend $110,000 you are in debt and over-extended where a person making $20,000 who spends $18,000 has a positive cash flow, sort of like some mortgages.

Still, for all those people who bemoan that they can't buy a house on two incomes say in La Jolla when they are 30 years old, move. If owning a house is that important to you then there are plenty of areas in the country that are very affordable.

Anonymous said...

Does anyone here know anything about Casey Serin's new 'boss', Chris Record? He has a myspace @

http://www.myspace.com/chrisrecord

I smell a scammer, but apparently Casey's getting $3000 a month out of working for this guy.

honica jewinski said...

BLOOD-LUSTING JEWS ATTACK HUMAN RIGHTS WORKER!
A 19-year old Swedish human rights worker had her cheekbone broken by an Israeli settler in Hebron today. Tove Johansson from Stockholm walked through the Tel Rumeida checkpoint with a small group of human rights workers to accompany Palestinian schoolchildren to their homes. They were confronted by about 100 settlers in small groups, who started chanting in Hebrew "We killed Jesus, we'll kill you too!", a refrain the settlers had been repeating to internationals in Tel Rumeida all day.





After about thirty seconds of waiting, a small group of very aggressive settler men surrounded the international volunteers and began spitting at them, so much so that the internationals described it like "rain." Then settler men from the back of the crowd began jumping up and spitting, while others kicked the volunteers from the back of the crowd and from the side.


The soldiers who were standing just a few feet behind the internationals at the checkpoint just looked on as the internationals were being attacked.





One settler then hit Tove on the left side of her face with an empty bottle, breaking it on her face and leaving her with a broken cheekbone. She immediately fell to the ground and the group of settlers who were watching began to clap, cheer, and chant. The soldiers, who had only watched until this point, then came forward and motioned at the settlers, in a way which the internationals described as "ok… that's enough guys…."




The settlers, however, were allowed to stay in the area and continued watching and clapping as internationals tried to stop the flow of blood from the woman's face. Some settlers who were coming down the hill even tried to take photos of themselves next to her bleeding face, giving the camera a "thumbs-up" sign.





At this point, an international was taken into a police van and asked to identify who had attacked the group. The international did this, pointing out three settlers who the police took into their police vehicles. However, the settlers were all driven to different areas of the neighborhood and released nearly immediately. When one settler was released on Shuhada Street, the settler crowd that was still celebrating the woman's injuries applauded and cheered.





A settler medic came to the scene about 15 minutes after the attack and immediately began interrogating the internationals who had been attacked, about why they were in Hebron. He refused to help the bleeding woman lying on the street in any way .





Five minutes after the settler medic arrived, the army medic arrived and began treating the injured woman. When she was later put on a stretcher, the crowd of settlers again clapped and cheered.


Police officers at the scene then immediately began threatening to arrest the remaining internationals if they did not immediately leave the area, though they had also just been attacked.


The injured woman was taken to Kiryat Arba settlement and then to Hadassah Ein Keren hospital in Jerusalem.





Internationals were later told by the police that the police had not even taken the names of the settlers who were identified as having attacked the internationals and that one of the main assailants had simply told the police that he was due at the airport in two hours to fly back to France.

honica jewinski said...

The other day I saw an older black woman walking down the street, pushing a baby carriage with a half-breed - looking kid in it. Figuring this was another result of stupid fat white trailer-trash getting pregnant by a big black stud, I asked the woman if this was her son’s child.

She replied, “No, this is my daughter’s.” So I said to her, “If your daughter wanted an extremely small white d*ck, I would have been glad to offer her my services.”

She just looked at me kinda funny and went on about her business, ignoring me.

Just like everybody on HP needs to ignore me and the bigoted, racist, anti-Semitic nonsense and lies that I post on this blog.

Anonymous said...

Why does everyone think you are a female?

AnalysisGuy said...

Today’s report on San Diego has been released!
Local Home Price Analysis

Anonymous said...

According to housing tracker Orlando Florida RE Inventory has been going DOWN since August.

foxwoodlief said...

Honica what is your source and so what? If they had been in Iraq they'd have been beheaded so they should count themselves lucky if that is all that happened. And they should be glad they weren't in the Superdome during Katrina.

Anonymous said...

Use the Google. Its on the internets.

AnalysisGuy said...

Today's report is out on Atlanta and it's first for AnalysisGuy. No big bubble.
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