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January 14, 2007
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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.
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40 comments:
Schadenfreude of course!
And to mock REALTORS
the collage of tidbits. I don't have time to read comments much. didn't like your iran comments though. seemed a little hateful.
to gawk at bad spellin'
Information so I will not get burned again when I decide to re-enter the real estate market.
To help tilt the collective consciousness so that housing becomes more affordable plus I like the banter
I looked at a house yesterday that has been on the market for 2 years now and changed brokers for the fifth time. still haven't droped the price much but the agent told me i had better act fast because she was having an open house tomorrow.
Since the existence of the housing crash is no longer debatable, most housing blogs have gotten very boring. This is the only one that offers any excitement.
cause Keith rocks!
this blog tells the same stories as other blogs, but keith adds a nice edge to the commentary. the blog is highly informative and entertaining at the same time.
Customer loyalty! Saved my butt from making a really bad decision, so I come back again and again!
To watch overly expensive homes like the below shape shift in 2007:
Dr. Housing Bubble Real Homes of Genius Award
In September 2001, I was living in (my HOME, not an investment) a totally paid for 3/br 2/ba in the best area downtown Orlando. Enter FL weather and The HOA's incompetence and my home was a total loss. Think Katrina, without the "roof falling down" part.
I had to live in emergency housing, paid for by my insurance company for a year, then, after that, out of my pocket. I had to sue the HOA and the Insurance Company. This took many years.
Eventually, I put a contract on a small condo and a boat slip, and moved into the Embassy Suites Downtown an Oct 12, 2004, for two weeks, waiting to close on my condo and boat slip on Oct. 30th. This was a panic purchase to try to lock in my fixed interest and Home purchase price.
Enter hurricane Charlie which hit Orlando, October 13, 2004, and destroyed the condo that I did not own yet, and while I was still waiting for the Law suite to go to trial, I was yet again living in emergency housing. I moved to the Marriott downtown for months and months, whilst Jane and Frances hit.
Looooog story short, the lawsuit against the insurance company took forever. I kept looking at places that I wanted to buy to replace my paid for home, and while I waited, over night they would become ridiculously priced!
I couldn't help but notice something was UP. Finally in Sept/Oct 2005, I was really starting to panic because of the run up in my home town, and with no settlement on the horizon, I started trying to do research on the Housing Market and The Real Estate Bubble. I found NOTHING, except HP!
So, whilst I watched the Bubble grow and waited for the settlement, which I got in Sept of 2006, in the value of 2001 prices, (I was never made whole), I realized, through this nightmare, there exists a
scam and we all live in it
I was so screwed by a Long list of Greg Swans.
I am not a bitter renter, (my rental burned down in June 2006, but that is another story) as I purchased from a FB just three months ago, but,
HP is great therapy!
HP is addicting.
HP is often, especially before the trolls, really funny.
HP is plugged in.
Fouk:
Real Estate Flippers
Real Estate Clerks
Insurance Companies
and
Attorneys
Anonymous said...
to gawk at bad spellin'
------------------------------------
After 25yrs in the construction biz, you tend to forget how to type and spell. (No typewriters on the jobsite) But, then we gawk at you paper pushers when we see you hold a left handed hammer in your right hand or use a belt sander to sand sheetrock.
P.s. When the SHTF after peak oil, war, currency crisis, or a nuke, I dont see your good "spellin" saving your ass!
Because ben's blog is boring!
Would the housing bubble have gone on for longer if it wasn't for the blogs? Me thinks so
KEIF,
Did't you ax this question like a 6 weeks ago? You can't be running low on material already.
ME: I enjoy reading the spins provided by renters. Examples include 19% increase in NYC prices means nothing. 17% increase in mortage apps means nothing. Decreasing inventory for straight months in Las Vegas means nothing..the 50% crash is still on its was (19 months after the peak and still waiting).
I'm also waiting to hear more news about the supposed Chinese dump of $1 trillion. This was reported as an exclusive on HP about a month ago and I am breathlessly awaiting to hear updates on it.
Would the housing bubble have gone on for longer if it wasn't for the blogs? Me thinks so
-----------------------------------
I totally agree. There was little real information available to the average person in the past. Only the positive spin from people that were making a living from the housing market.
Because Keith is in the UK, this blog has a significant Brit aspect, and somewhat of a global aspect to it in addition to the primary US aspect - as a tri-national this blog comes closer than most to my world view.
O yeah, and its tabloid nature is enormously entertaining - after an hour or so of Roubini or wallstreet examiner, my head hurts !
-K
to gawk at bad spellin'
-------------------------
I spells bad and uses badder grammer to help you feel superior. Is it workin?
50% Keith's posts, 25% comments, 25% comprehensive set of links on the right hand side.
To fight the Housing Industrial Complex!
Being informed and speading the message.
A year ago: to get the information the mainstream media wasn't providing. Now: to find links to the most interesting mainstream reports quickly, to re-assure myself that my viewpoint makes sense, and for a good healthy dose of schadenfreude as I root for the collapse of the financial underpinnings of the (formerly? maybe not quite yet) smug homeowners who think they are financial geniuses because of their sheep-like "investment strategy". I don't think they should be financially rewarded because they bought something they wanted at any cost, and I look forward to the day when I don't have to make a terrible financial move in order to own my own house.
Small town, not much to do in the evenin'. Mostly just settlin' up old scores.
I started because I thought it reflected my views and because I like to get information from many sources. Often this site is hype and a lot of folk just want to support their view only or spout racism. I come back hoping for rational debate and not the twisting of facts. Some of the great posters here do that and give great insight so that is the only reason I still check back but I often get tired of the same old hash and hate. Give me something constructive to use.
Schadenfreude for the people who bought in 2004 until now, especially the Option ARM I/O crowd! Muahaha. On the flipside, I have some shcadenfreude reserved for the ' All current homeowners are stupid, I rent so I am smarter' crowd because deep down inside they WANT to be a homeowner one day too.
Love..current PRE_BUBBLE homeowner with a 1400 mortgage that would cost 3000 today..CHEERS
So many touchy folk about their spellin'...
I watched everything closely after (actually, I had been watching closely for a very long time before and knew when to exit the markets) the tech crash, and it's subsequent effect on business in the employment sector.
I watched as investments shifted to RE and my friends began talking about "Rich Dad, Poor Dad"....I knew what we were ultimately headed for.
As a stop gap financially, I worked for a young man (could have been iamfacingforecloseure.com's twin brother....) He had a successful business in landscaping in his late teens, used the profits to buy beaten up properties, took out equity loans without rahabing the places....I tried to pick up the pieces for him, but it was too little, too late and all (50 units) went to foreclosure.
THEN.....he became a builder of new "HIGH END" (stick houses with brick and vinyl facing)....transferred everything out of his name and into his mother's!!!!!!!!!!
Here's a guy, that has no credit left, financing a wonderland high life on the back of his mother (who is on disablity) and can hardly affford it!!!!! But somehow he thinks that this is how life is....this is what is NORMAL!!!!
Anyway, this is best site on the net for what is happening out there and what the "current thinking"-(non-thinking) are coming up against.
What a nightmare lyes in wait!
It shows the ugly back side, of the Rosy picture the RE Industry likes to paint.
To read about housing bubble issues, NOT to be barraged by politician bashing!
It's kinda nice to realize that i'm not alone in my thinking. Keep up the good work folks!!!!
We are a couple of teachers (and by that I mean we need to be very careful with our dollars) and would like to buy a house. I decided to do a little research rather than just believe the buyer's agent's pitch.
Glad I did. We are renting, waiting and watching in Asheville.
I visit to see what people that know more about real estate than I do think is happening.
And 'cuz some of y'all are darn funny.
To get the "real" news- whether it be for or against housing- and to ensure that I am not the only crazy person out there who thinks things have gotten way out of hand.
Why?
Same reason as every other guy visits.......flyingmonkeywarrior!
fmw....that is a great post!
Aren't attorneys wunderul?
I dealt with those dumb bastards for over five years for an auto accident....that wasn't even my fault!
to hear what the idiot liberal dems are saying and whining about now. You guys are such failures in life. It's great and I love it. Bitter and always blaming someone. So typical! I invite you all to have sex with yourselves.
It's always somebody else's fault for your miserable lives. Your lawyer fucked you over. Your broker fucked you over. Your realtor fucked you over. Your insurance company fucked you over. The HOA is out to get you.
This is the common theme on this blog. Most here believe there is a consipracy of sorts out to get them, be it REIC, Jews, Bush, Bernake, you name it, someone's out to mess with you.
That's why I come here, to keep up with the daily rantings of obviously deranged people.
It's the attitude!!!
My favorite place to lurk
It's like stalking without leaving the house!
Why??
To click on the ads so that Keith can get commission.
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