February 28, 2007

It's no fun when the party ends... What is that on the carpet by the way?


There's puke on the carpet, red wine stains on the couch, you crashed your car into your mailbox, and your head is killing you.

Yup, it's time to wake up and start cleaning. The Great Housing Party of 2001 - 2005 has ended, and it's gonna take some time to pick up the pieces.


28 comments:

Anonymous said...

Now is a great time to buy or sell a stock.

keith said...

There's gonna be serious volatility today - first up, suckers rally, then down

That's stocks - meanwhile houses have one direction - down, down, down.

Want out of a stock? Hit the sell button and you're done, you can sleep at night.

Want out of your Phoenix investment condo? Sorry, doesn't work that way.

Richard said...

Keith said "It's gonna take some time to pick up the pieces."

Well if never is what you meant by time you would be correct.

See...the housing crash was the pulled trigger for a much greater event...

The die off of 90% of the human species in the next decade or two.

See...every other depression was pulled out of a nose dive because cheap energy was available.

In 5 years when we should be seeing some light at the end of the tunnel to pull us out of this depression...no cheap oil.

So no manufacturing...no economy...no squat.

The red wine stain will stay on the carpet FOREVER...your car will NEVER get fixed...

Cheers!!

Anonymous said...

gots to agree Richard,

the bees are dying off, thaat will destroy the food chain-no more veggies or fruits...

oceans have been over fished, the cod population near nova scotia is gone.

we are next.

anyone read about deer on st georges island?

deer wheer introduced, and with great fanfare the deer population boomed. year after year more deer and more deer the peta people were so happy (joy)!!!.

oops, deer eat greens, too many deer eat too many greens. with too many deer and no preditors they were the top of the food chain, soon there were too many deer and too little greens to eat.

the deer population dropped and prrof they were gone.

Blowfly said...

Great picture of an imbecile shit-eating brain amputated renter sleeping in his decrepit, dilapidated fully paid 1981 Plymouth mini van trash-hauler. Why worry about the market? You don’t own stocks, bonds, cash or anything else of value. Blowfly’s going to send you back home to your momma with your ass bleeding, you piss-ant, dumb-fuck retard.

Anonymous said...

Man that looks good.......I need a keg after losing my shirt yesterday.

Anonymous said...

New home sales plunge

Pace of new home sales down 16.6 percent from December as latest reading on real estate much weaker than forecasts.


February 28 2007: 10:09 AM EST


NEW YORK (CNNMoney.com) -- New home sales plunged in January, as Wednesday's latest reading on the battered real estate market came in much weaker than forecasts.

New homes sold at an annual rate of 937,000, down 16.6 percent from the December reading of 1.1 million. Economists surveyed by Briefing.com had forecast only a narrow drop to a 1.08 million pace.

The median price of a new home fell 2.1 percent from a year earlier.

Home builders' have been particularly hard hit by the downturn in home sales and home prices. Hovnanian Enterprises (Charts) said Tuesday it expects to report a net loss in the most recent quarter. Toll Brothers (Charts) reported a sharp drop in earnings last week, while KB Home (Charts) reported a net loss in the most recent quarter earlier this month.

Other leading builders reporting weakness in prices and reduced sales include Lennar (Charts), Pulte Home (Charts), D.R. Horton (Charts).

Anonymous said...
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Anonymous said...

There's gonna be serious volatility today - first up, suckers rally, then down

Really? What about gold? Is that going to go down then up.

as of now it is $19 on the downside.

Anonymous said...

No "BLOWFLY" it is YOU that will be sent packin' back to yo' momma! Trolls like you THRIVE off living off of stereotypes. Go pound sand you PAB!

DinOR

Anonymous said...

Blowfly said...
Great picture of an imbecile shit-eating brain amputated renter sleeping in his decrepit, dilapidated fully paid 1981 Plymouth mini van trash-hauler. Why worry about the market? You don’t own stocks, bonds, cash or anything else of value. Blowfly’s going to send you back home to your momma with your ass bleeding, you piss-ant, dumb-fuck retard.


Yes, yes! More hate! The more vitriol the better! The more the FB's hate and squeal the more I know I'm right. Now, if you excuse me, I have to get back to the home foreclosure listings to pick out a house to buy. BWAAAHAHAHAHAHAHAHA!

Anonymous said...

market is up today - See it was just a abnormality, everything is fine. Stop spreading false fear!

Anonymous said...

3:31pm,

You conveniently left out this part of the article.

The median price of a new home fell 2.1 percent from a year earlier to $239,800, although that was $400 above the December price level.

$239,800 was also higher than November's number which was higher than October's number. So what is a better indication of the current trend? Three months of price increases or a YOY price decrease?

And it wasn't in this article but California's median price increased 1.9% December to January

Some other tidbits left out by the story:

- total sales transactions in January were the highest level in 7 months
- inventory in Jan was at 6.6 months, compared to 7.2 months in October

But why focus on any of that when it spoils a good "market doom" story?

Anonymous said...

That's a picture of blowfly with his date!

I feel sorry for the keg's bung!

Anonymous said...

the price data is worthless - doesn't include incentives

Anonymous said...

"For the Umpteenth time there IS NO HOUSING BUBBLE."

- George Bush

PS I need another 100B for the war.

Anonymous said...

There are a few rules and tips that you may want to follow to prevent a "Hammie-Disaster!
*******************************
RE agents look for the next big thing. HAMSTER BREEDING!
********************************
When done responsibly, breeding hamsters can be fun and rewarding [unlike home sales], but there are a few rules and tips that you may want to follow to prevent a "Hammie-Disaster!"

Once you've got homes lined out for the hamsters-to-be, here's what to do.

There are also many hamsters available for adoption from animal shelters and rescue so you may want to consider adoption over breeding.

Anonymous said...

Hey, I want to get into the market, I watch CNBC so I think I could do good, plus I read a lotta of papers, some porn and with my friends on myspace I think I could make a killing. What options should I do? Since I don't make a lot at KFC I thought I would do options. Suggestions?

Anonymous said...

price data is worthless? Uhm then how do you know the market is crashing? This is the thing I love about HP, the consistent inconsistencies. NAr releases a price drop, you tools are all over it. They release a price icrease, well it doesn't matter since it's fake data. NAR releases a YOY sales drop, HP is on it like white on rice. They release a YOY sales increase, nope, bogus data and lies.

Richard said...

"If the bee disappeared off the surface of the globe then man would only have four years of life left."

Albert Einstein

Richard said...

Honey bees vanish...

http://www.nytimes.com/2007/02/27/business/27bees.html?th&emc=th

http://tinyurl.com/369xxm

Anonymous said...

Those who got a 125% loan can walk from their mortgage with plenty of cash

Anonymous said...

All this doom and gloom talk sounds suspicisously like the sky is the limit talk of 2 years ago. When it looked like things couldn't get any better, things got pretty awful and fast.

So now it looks like things can't get any worse. Every day yet another report comes out saying things are in the shitter and have nowhere to go but down.

That's how I know things are abut to turn around. Happens the same way every time in every market, bear or bull, housing, equities, gold, you name it.

Anonymous said...

hey where did all the "BUY GOLD" "GOLD IS KING" or "GOT GOLD" posts go today?

What's the matter a little $15 price drop scaring you away? What happened to the dollar will be worthless, China will sell $1 trillion and the hyperinflation that was supposedly coming making gold at $3000 possible?

Anyone? Anyone? Bueller? Bueller? Fry?

housing god said...

I thought gold is up today? Why all the talk of gold being down?

BTW - I think government should nationalize housing since it's too expensive. Any household that doesn't own a house right now should be given their choice of an empty home. That would take care of the housing glut and property tax problem.

Anonymous said...

Bees disappearing?

Maybe the next bubble to form is bee keeping, just like housing you're gonna get stung.

bozonian said...

Hey, that picture is me except that I sleep on a smelly, ratty old sofa that I found in a dumpster.

It's my version of the dirty linoleum floor.

Anonymous said...
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