February 17, 2007

HousingPANIC - The Housing Bubble Blog with Attitude, gets a new name today


The housing bubble is over my friends. We're now, without question, firmly in crash stage. So as of today, 3,000,000 page views, 2,500 posts and a year and a half later, let me now introduce:

HousingPANIC - The Housing Crash Blog with an Attitude Problem

Yup, you'll continue to get housing bubble (RIP) and crash news, political and fiscal commentary, and until this thing is over, a serious attitude problem.

One day HP'ers, when it costs more to rent than own, and real estate clerks and the corrupt REIC have been forever defeated, we'll move on to better and brighter topics. Hope will spring eternal, and we'll be better off as a country having experienced this historic crash. I truly believe that.

I see a shining city on a hill. A thousand points of light. Or something like that.

Until then, F the REIC! F real estate clerks! F David Lereah! And F the late great housing bubble!


28 comments:

Mort said...

I think you may be a little premature with the name change. I hear Helicopter Ben firing up the turbos now. What's that? Oh yeah, and grandma Pelosi is bringing a great big mortgage deferment for all the good little FBs. Poor souls, they're just victims, you know.

Mort said...

In the mid-1990s, Fannie, Freddie and HUD began directing lenders and servicers to assist borrowers in retaining their homes through the application of special forbearance, deed-in-lieu, partial claims, loan modifications, or preforeclosure sales...

Loan modifications generally involve an agreement between the buyer and lender to add the delinquency back to the principal balance and re-amortize the loan over an extended loan term. Once that agreement is in place, the loan is considered current...

[link]

Anonymous said...

I say we have a big Housing Panic (Crash) party when we finally hit bottom. The NAR says we hit bottom. Is it time to party? Yea right!!

Kudos to Keith and the HPers. We will ride this bull to the the bitter end until decent honest people can put there money down on a home they can afford and not some drywall and sticks financed by a mortgage that will never by paid.

Mark In San Diego said...

Great time to change names - Feb. 8 - The HSBC Meltdown, was the beginning of the end. . .one after another, the sub-primes are going down, and loans will require a DOWN PAYMENT!. . .that will kill the housing market once and for all, as Americans HAVE no savings!!!

beaver muncher said...

Congratualtions on all your sucsess keith.Your blog is awesome and really enjoy your work.Best of luck with your future!!!!!!!

RayNla said...

Keith,

David Lereah called he wants you in his office pronto!

Don Gaspar said...

I agree with this post.

Anonymous said...

Keith,

I have been reading and blogging here for over 1 year.

I like the Attitude here, and the fact that the main stream posters here seem to understand that the housing bubble did not exist in a vaccum. Things like the massive consumer credit bubble played its part in this mess.

I am mostly interested in MAJOR trends and events that impact the masses. For this reason, I have also been studying the scientific data on polar ice shrinkage.

Most of the media reports have ignored the real posibility of breath-taking rapid global change...

The closely held scientific secretes are:

#1 The Arctic sea ice now has 40% less volume than it did in the mid 1970's.

#2 The oceans won't rise much more than 1 meter, UNLESS the Greenland ICE SHEET melts (dumping ice & water from land to sea).

#3 The ocean could rise by more than 20 meters by 2016; submerging 80% of the worlds cities under the ocean.


*** YES, we have way to many houses now... but if the oceans rise this fast... lots of housing and cities will be destroyed and the remaining houses on high ground will see their values skyrocket! SUPPLY VS. DEMAND


Exerpts:

Now, if you take those two years [2005 -2006] as the new trajectory for ice melt in the Arctic - we've only two years of data there - but if we do that, there will be no Arctic to melt in five to 15 years, and that's an astonishingly short period of time for an ice cap that's existed for 3 million years."

http://tinyurl.com/yo4f5n

GreedKills said...

It'll happen eventually...even with some mortgage deferment...just my guess though.

But...I want to say that I'm glad I found this Blog...

This is absolutely top notch.

I'm here until the end and yes...we should throw a party at the end...I grew up around greed (Los Angeles) and I'm sick of it.

Anonymous said...

Spring PANIC coming soon to a subdivision near you!

tmaioli said...

“if it looks like a crash, smells like a crash and quacks like a crash, then it is a crash."

http://www.find.co.uk/mortgages/
offshore_mortgages_centre/news/147379144

Anonymous said...

Some people chase the market and eventual get burned.


Did you ever hear what the young bull said to the old bull when he saw a bunch of young heifers in the pasture.

"The young bull said lets run down there and get one, the old bull said no, lets walk down there and get all of them."

Christian said...

Keith, you were prescient by calling this "Housing Panic" from the beginning. Not Bubble, not Crisis, etc but Panic. Yet we're not quite yet in the true panic phase of the crash.

I cannot wait for that day. Burn it down! Burn down this stucco world!

Anonymous said...

Pope St. Felix III (5th Century): "Not to oppose error is to approve it; and not to defend truth is to suppress it, and, indeed, to neglect to confound evil men - when we can do it - is no less a sin than to encourage them."

sk said...

Yup, congratulations ! The panic and crash in now firmly in the mainstream - now there needs to be attitude so that the truly guilty are firmly identified, pilloried, punished.

Maybe, just maybe, the spirit of "we are mad as hell and we won't take it any more", the sense of right and wrong, of justice will infuse people again.

Attitude will be essential in exorting people to shed their timidity and refuse to put up with blandishments, subterfuge, spin and utter lies.

Good luck again.

-K

fidel castro has syphillis said...

It will be a sad day for the REIC and government when what's left of the middle-class can afford to buy a house with a traditional 30 year fixed rate mortgage. It was much more fun when housing was like rolling dice at a casino. Nobody buys a house to live in anymore. That's so 20th century.

Shakster said...

Exerpts:

Now, if you take those two years [2005 -2006] as the new trajectory for ice melt in the Arctic - we've only two years of data there - but if we do that, there will be no Arctic to melt in five to 15 years, and that's an astonishingly short period of time for an ice cap that's existed for 3 million years."
---------------------------------
Just think,2billion more acres of land freed up for building homes.Give or take Hawaii,and Florida of course.Even if Global warming is true,manmade or not,I really wouldn't worry about it,cause there isn't a thing we can do about it.If we bad USA'ns ,and Europeans,etc were to become perfect little non greenhouse gassing robots,we would have to kill all the trees ,and cows,dry up every swamp,cork every volcano,contain trillions of cubic ft of methane annually being spewed by the oceans,kill all the farting fishies,turn the sun down to medium,create more cloud cover(global warming accomplishes thisBTW),and on and on.Mother Nature will handle it,no you may not vote on it, she has no agenda besides the continuation of this perfect planet,you may do as you please to the earth,it can take it,Humans go hand -in-hand with planet earth,we were meant to change it,nuke it,plow it under,mine it,drill it ,drive on it,fly about it,discovery her mysteries,be killed by it,to live prosperously because of it ,not despite it,kill each other if thats what we wish,rip each other off,cause bubbles,crashes depressions,and roaring 20s,propagandize about it,tweak it,surf it's mighty waves,ski its grand mountains,hold drag races at Pamona,Nascar at Daytona,break the sound barrier,eat steak,and eggs,get laid,exterminate certain species(Hey,just following Mother Natures lead here,she has us beat by a long shot)or should I say Man ,and nature agree on everything,and come what may it's all just fine,and i love warm weather.Attitude Baby.Lemmme ask you this-Mother nature,God,or Government,which one always is there for you to see,and doesn't hide from you,lie to you,and gives you all the facts at all times for you to make an informed decision,your mistakes,and will never hold a grudge,or account of your misdeeds,or mistakes?Hows that for attitude?

Norweigian said...

There goes the neighborhood

Bubble blog with attitude

Housing crash blog with an attitude problem .


Been here since the start. Made that comment about my feelings on immigration months back and how my mother felt coming here broke from Norway and seeking a new life in the USA. Brave soul she is , even now in her 70's .Proud to be American yet am open to open minded people! Good blog Keith ! Definitely no shortage of good diligent people here mixed in with insane greedy shallow narrow minded short term thinkers !!

Hope Arsenal kicks the shit out of MAN Untd. We have Beckham in LA. God help us all. Long live soccer or football hahahaha!!

Anonymous said...

Shakster,
Right-on!
What do Global Warming mongers and FBers have in common?

Anonymous said...

It's too bad non of you had the balls to by a house a couple years ago. I made $150,000 on a house I built and sold. Anyone with the balls could have done the same.

You probably sat on your hands proclaiming crash January 2000 when you could have bought any NASDAQ stock and made a profit. I can hear you crying crash all the way.

For those of you who don't know how to play the game, you can sit on your asses and be a Monday morning quarterback.

I will look forward to you crying comments when the market does turn and you refuse to buy because you are still preaching it is crashing.

I started with $50,000 in 2004 and in 2 years of real estate investing I turned it into $960,000. 2006 I traveled the United States and than Asia.

So far in 2007 I have bought and sold 2 homes for a $90,000 profit. I realize most of you don'tmake that much in 2 years.

So yes I understand why you are upset, everyone else is making money in this market except you.
I am making money on people like yourselves.

Keep up the great work.

roxrok said...

Guys...enough with the global warming crap...really jumping the shark on that

keith said...

"It's too bad non of you had the balls to by a house a couple years ago."

Quite contraire, monsieur. Many bubble sitters and bitter renters DID do exactly that - bought or held during the run up, then got the hell out of dodge in 2005 or 2006, now sitting on the gain (happily) and waiting to buy again when the time is right.

Welcome to HP.

Anonymous said...

So far in 2007 I have bought and sold 2 homes for a $90,000 profit. I realize most of you don'tmake that much in 2 years.


What zip code? Were u a part of a mortgage fraud scheme? Give us your name so we can turn u in.

FlyingMonkeyWarrior said...

Been here since the start.
++++++++
Me too.

My PC Bookmark for HP still reads "there goes the neighborhood", te he.

You are light years ahead of the curve Keith,

And

you continue to be the forefront as things progress.

Nothing like the daily ring side seat at this sight.

Anonymous said...

Keith, keep up the awesome work. I've been reading from the start. Your blog and its attitude rock. So, too, do the pictures. Seriously, the graphics you post are great. --Vega

Anonymous said...

I bought a house in 2001 at the bottom in my area.

I know I'll have an inexpensive place to live for the rest of my life if necessary.

I have no animosity toward "investors" who bought houses and sold them before the top. I have absolutely no sympathy for someone who bought near the top and whose house is now worth less than what they paid for it. I believe that gambling and overpriced mortgages function as a sort of "stupdity" tax. Stupid people should be exploited. Sorry, but unless stupid people are neutralized somehow they get control of the country and the entire thing collapses.

Ooops, too late. Oh well. Time to leave the U.S.

waitwaitwait said...

These people who are "happy home owners" yet apparently anxious enough to type the words "housing bubble" into their search engine and find the bubble blogs really slay me.

And I so agree with your assesment of the aftermath of this fiasco Keith.

Lordy, we may even get a middle class back in the US after this thing's over.

Homes should be 2- 3 X income. Period.

Now *that's* stability. Good for the people, good for the economy (more disposable income), good for the banks (low default rates). Just plain good.

Go USA!!! Let's show the world how a REAL housing crash is done!!!

Anonymous said...

Good post Anon 6:01.

Time for stupid/rash/unthinking people to step aside. Enough is enough.