When will the following official housing crash signs happen:
1) Bush addresses the housing-panicked nation, telling people that the only thing we have to fear is fear itself, and that home prices would stabilize if everyone just calmed down
2) Time magazine FINALLY puts the housing crash on the cover
3) David Lereah is fired
4) Bob Toll, Angelo Mozilo or Casey Serin are arrested
5) US REIC job losses surpass 2,000,000
6) The congressional housing bubble / housing crash hearings begin
7) The US housing crash spreads to Europe
8) The US median home price falls 10% from peak
9) Phoenix median home price falls 30% from peak
10) 500,000 realtors have been culled from the NAR's total membership
Any other big housing crash mileposts or predictions?
40 comments:
None of these predictions will come to pass - the FEDs will lower interest rates, devalue the dollar, and save the economy. This was the intention all along anyways, in case you were too blind to see the obvious.
Home prices will resume their climb as the dollar drops and the US internal/manufacturing economy picks up.
Casey Serin will never be arrested unless the find out that he used the cash from his $2.2 million in real estate to form an investment club and he really has a lot more money someplace than he lets on...
1. Leading housing bubble blogger disappears - body found dismembered in oil drums floating in the San Francisco Bay.
2. Private ownership of gold and other precious metals outlawed. Any gold found in private ownership is confiscated.
3. The three largest stock brokerages collapsed this week, SIPC
fund wiped out, massive losses and uncertainty for stock investors.
4. All internet based economic bloggers shut down for inciting panic,
hoarding, speculation and
other economic crimes.
5. FHA offers to re-finance all defaulted housing loans at 3% fixed for 90 years.
6. Goldman Sachs moves its head office to Dubai.
Top executives follow.
7. Pres. Bush retires to
Uraguay - says history will absolve him.
Government funded cash handouts to save forclosed sheeple. That one I can put a date on: November 2008 minus 3-6 months.
Remember the S&L bailout? Assets (house prices) going 'up' with a devalued dollar - like 1930's Germany? Cool! It's sort of sad the (free market) economy needs to be 'saved'. The intention has beem to destroy the so called middle class (since Reagan, Goldwater?) - which has been done. US manufacturing will pick up? Funded by who China, Saudia Arabia? Ownership society was an illusion.
1. 300 people killed in election related violence in ohio and florida.
2. Crash spreads to Australia.
3. US treasury defaults on principal and intrest payments due to China.
4. Massive rioting reported in China due to widespread unemployment and starvation.
5. Walmart has special sale on bread - $1000/loaf.
6. Greenspan says no one could have forseen this.
7. Pres. Bush declares martial law in 10 states.
Promises to keep it in effect indefinitely.
8. FEMA relocating homeless and unemployed out of major cities into
rural trailer camps.
9. 15 states declare 40%
layoffs due to budget shortfalls and inability to borrow.
10. Latest troop surge in
Iraq producing very promising results - insurgency in baghdad in its last throes.
Government funded cash handouts to save forclosed sheeple. That one I can put a date on: November 2008 minus 3-6 months.
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Best to put some o that Goverment handout in a safe place..cause the IRS will be knocking on your goverment housing for their cut...rest asure.
I agree with anon March 19, 2007 1:57 PM; None will pass - the boomer generation has finally succeeded in eliminating recessions entirely. Pop corks and break out the glasses, damn those people are smart.
>> 2. Private ownership of gold and other precious metals outlawed. Any gold found in private ownership is confiscated.
And owners of these metals will be executed on the spot.
>> 9. 15 States declare 40%
layoffs due to budget shortfalls and inability to borrow.
Finally! I thought the era of Big Gov was over, what, 10 years ago?
PKK here
When General Motors closes the doors.
8) The US median home price falls 10% from peak.
Q3 or Q4 of 2007, my guess anyway.
Keith, Keith, Keith... Your reports of the death of the housing market are greatly exaggerated. Here in the greater New York metropolitan area, housing is selling slowly, there is a lot of inventory around and prices have stabilized a bit and may have even dropped a little here and there. And yet, new units are still being manufactured and asking prices are still astronomical! I just saw a 3br townhouse off a busy street asking $1.6M.
This shakeout will take years, not months.
We will bomb Iran and once again the American sheeple will be distracted.
"Home prices will resume their climb as the dollar drops and the US internal/manufacturing economy picks up. "
Shut up, you ignorant twit!
All Realtors ordered to open their books for legality reviews and internal investigations by the S&E Commission.
All Realtors ordered to submit client list for crosschecking with clients RE MLS bias screening and manipulation.
Appraisals redone on all properties sold in the past 5 years for suspected appraisal value manipulation.
All convicted Real Estate Clerks, Convicted Appraisers, Cash Back Lendors etc etc detained at any one of Halliburton's many detention/internment camps here in US. Obviously several large camps needed for this many crooks.
Have Greenspan flogged daily in a public square. Strip him naked and spray paint his genitals "School Bus Yellow" for what he has done.
Make all Realtors re-stain their skin white or black instead of "Suntaned". Prohibit all Realtors from Bleaching their teeth and wearing gold bracelets.
Answer: A king, queen, jack, and a
pair!
And the question is:
Who are Elvis, Liberace, Nicholson, and Dolly Parton
The Great Karnak, he will be missed!
http://preview.tinyurl.com/ynt5hd
barf, who wants to BUY a home anyway!
and this is from the wsj, the author is the author of a real-estate investing guidebook to boot! too funny
Anonymous said...
Casey Serin will never be arrested
So true, the IRS could care less about you when you have NOTHING to go after, and it looks like the local DA's offices are already getting swamped with mortgage fraud cases!
Just TRYING to go after all of the dirty parties up and down the ladder would break the local courthouse budget, at a time when the property tax revenues to support that budget are dwindling!
"Home prices will resume their climb as the dollar drops and the US internal/manufacturing economy picks up."
Bwaaahahahahahaha...funniest thing I've heard today. Sure, all those millions of people got into sub prime and Liar's Loans because they are swimming in money. These are the same people who are going to make the economy take off. Hey, if you are one of those disinformation agents within this rotten industry or gov, who need to kiss butt to make a buck, fine. If you are not, you need to stop being a sheeple.
IRS will and is going after fliptards that have their Real Estate Clerk's license. The IRS is auditing way back in time, and if the RE Clerk works part time and is a fliptard, whilst claiming to work FT, they owe back taxes on all of their flipped properties.
HA HA HA
Shepple in seattle stop thinking they are special
DOW
+99.42
There is no problems, now go shopping.
"6. Greenspan says no one could have forseen this."
I must say; well said!
One of the big publicly traded builders goes bankrupt.
Dominion Homes might be the first one to do so. As early as the first quarter of 2008.
Something that is really bothering my brain. When Housing drops 30% to 40 % and the Property Tax, which has been a big windfall for Municipalities, as the consumers HELOC their ATM, what happens to the millage. I think the Gov. will not be able to afford to LOWER taxes back down. It really is a pi$$er.
And FB are so screwed, coming and going.
Hope I am wrong.
FlyingMonkeyWarrior said...
Something that is really bothering my brain. When Housing drops 305 to 40 % and the Property Tax, which has been a big windfall for Municipalities, as the consumers HELOC their ATM, what happens to the millage. I think the Gov. will not be able to afford to LOWER taxes back down. It really is a pi$$er.
And FB are so screwed, coming and going.
Hope I am wrong.
The home owner in general is screwed, FB or otherwise. Our elected parasites, you know, the pigs at the trough up at the statehouse (any statehouse) are going to scale back or eliminate their so richly deserved pay raises, pensions, and cradle to grave benefits and pet pork barrel projects, NOT!
Taxsylvania used to be a nice place to live, not much here in this neck of the woods, but fair, LOW, taxes to go along with the 'not much here'.
The a*sholes in the capital see what the bubble states are paying their parasites, and of course they want IN! The fact that the average homeowner here has to struggle to live AND pay the parasites
underserved increases is meaningless to them. And of course, the more you pay in taxes, the less you have to spend on everything else.
I sometimes think that the worthless, walking comp case neighbor down the road is the smart one. Welfare section 8 pays his rent and utilities on a nice home, he and the wife have nice cars, whenever he or the family have to go to the welfare office, free clinic, doctors office for his 'disability' they call a cab(payed for by welfare of course, your and my tax dollars at work)because they are not supposed to be able to afford vehicles. He and his will have 'theirs' long after we are kicked out of 'ours' by the sherriff's dept. for non payment of skyrocketing property taxes!
Millage will go to warp speed one direction, while all of the f*cked homeowners go the other.
"I canna give ya anymore captain, she'll go belly up!"
At least you guys aren't blaming me! I am innocent! Innocent!!!
Now for a Jamba Juice and nap!
To the poster who said our manufacturing industries will improve I ask...what manufacturing industries????????????
Oh and the dollar will NEVER improve, period.
The Fed will NOT lower interest rates!
None of these predictions will come to pass - the FEDs will lower interest rates, devalue the dollar, and save the economy. This was the intention all along anyways, in case you were too blind to see the obvious.
Home prices will resume their climb as the dollar drops and the US internal/manufacturing economy picks up.
March 19, 2007 1:57 PM
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people can't afford it now, they won't afford it then. sorry, only one directon to go in.
5. FHA offers to re-finance all defaulted housing loans at 3% fixed for 90 years.
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That MIGHT get me in the market now.
I just saw a 3br townhouse off a busy street asking $1.6M.
This shakeout will take years, not months.
March 19, 2007 4:31 PM
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Well, you sure are dumb.
Monkeys fly out of blowfly's Ass!
Too late, already here!
Welfare section 8 pays his rent and utilities on a nice home, he and the wife have nice cars, whenever he or the family have to go to the welfare office, free clinic, doctors office for his 'disability' they call a cab(payed for by welfare of course, your and my tax dollars at work)because they are not supposed to be able to afford vehicles. He and his will have 'theirs' long after we are kicked out of 'ours' by the sherriff's dept. for non payment of skyrocketing property taxes!
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What will happen when EVERYONE goes on Sect 8 and no one plays the taxes?
Hobos.
I foresee the return of the Hobo.
I predict the end of Communism in the United States.
People will actually have to work at productive activities. No more Feng shui consulting.
"None of these predictions will come to pass - the FEDs will lower interest rates, devalue the dollar, and save the economy. This was the intention all along anyways, in case you were too blind to see the obvious.
Home prices will resume their climb as the dollar drops and the US internal/manufacturing economy picks up."
Um. Wrong. In case you haven't noticed, the dollar has already lost twice its previous value against the UK pound and the Euro.
Perfect tactical move when you have massive debts to pay off, but absolutely cretinous if you expect fat, dumb and happy Fox-watching Americans to continue to consume and buy products at previous levels.
Something's got to give.
Oh and that US internal -manufacturing economy pick up you mentioned? How will that do any good when even fewer Americans will have enough devalued dollars to purchase them?
There is no way in hell that this is not going to hurt. A lot.
Home prices gap down soon after the Forth of July, the end of the spring selling season. By then the kool aid will have worn off.
Bush's quote will actually be something like this...
"We have nothing to fear... er... Don't fear the reaper..."
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