March 31, 2007

HousingPANIC Stupid Question of the Day

Do you think ramen-eating real estate clerks and mortgage brokers have figured out yet that their greed, lies and corruption killed the golden goose?


The economy will collapse, lives will be ruined and millions of them will go unemployed, all because the corrupt NAR leaders, conmen mortgage brokers and unethical real estate clerks just couldn't help themselves.
They wrongly focused on the short-term windfall and their greed, at the expense of their morals, value as human beings, and career futures.

They made their beds. Now they get to sleep for the rest of their lives in the moral gutter, knowing they lied to, cheated, conned and stole from their fellow man. Yes, there may be a few moral, honest, ethical and genuine ones amongst the professions. But the majority killed it for the minority, and the rot at the top (TCDL) stained the lot.

The terms "Mortgage Broker" and "REALTOR®" will forever have a stench associated with them, and for good reason. The golden goose is dead.

27 comments:

Anonymous said...

hey, Buys-side realty will refund up to 75% of the commission. realty selling will never be the same now.

David in JAX said...

All I hear from RE Clerks is that "The Media" killed housing. I think as long as their upper ups keep pushing the lie that there wasn't a bubble and the media killed the housing market, the average clerk will continue to believe that they had nothing to do with the crash.

Anonymous said...

Damn I love this blog

FlyingMonkeyWarrior said...

Nail on the head Kieth.

Anonymous said...

Why are you people celebrating an economic collpase? It will affect you as much as anyone esle.

About 3 weeks or so ago there are a poll here as to what everyone does and how much money everyone makes. A large majority of the responses were Engineer and/or IT related work.

Here's a clue for you all: when times get tough, the 1st thing that will be cut is IT spending as most CEOs see no value in it to begin with. Careful what you wish for.

Anonymous said...

bloody good thing I'm in the oil industry (no bubbles here... Yet)

PetrolBull

Anonymous said...

Its unfortuanate that so many people will lose theri jobs thus having a negative affect on the overall economy but a correction is badly needed. The RE/mortgage biz ballooned the last 10yrs - all those newbies need to get out. They gave their business a bad name. Most of the old timers had some decent ethics. In the end, I think we should point the finger at the Fed for keeping rates too low too long and to Wall Street/China who was willing to buy all that crappy paper. Subprime corps are to blame too but they were just the middle men. They got squashed in the end anyway.

Anonymous said...

Well put.....the best and most concise editorial on these modern day pirates I have yet seen.

The whole "profession" stinks and the sooner RE "professionals" are relegated to their slimey little spot in history...the better.

Anonymous said...

mortgage broker
snake oil salesman
real estate agent
trial lawyer
used car salesman

Anonymous said...

I celebrate the RE collapse now because the bigger the bubble gets, the worse the resulting bust. If this housing/credit bubble continues for another five years, the resulting bust would surely result in a Great Depression II. Hopefully we can get away with only a deep recession after the past 10 years of insanity.

Mark in San Diego said...

CREDIT PANIC! . . .that should really be the new name for your blog Keith. . .read an interesting article this morning about Harley-Davidson, and their credit arm - their defaults have doubled in a year, and are now around 6% and climbing - aparently they did the same as sub-prime - if you could drive out the door, you could get a bike. . .this whole credit bubble is spreading like wildfire to all sectors of the economy - now that gas is 3.19 in SoCal and much of the Southwest, the final straw has been broken.

Anonymous said...

Here's a thought for a new "board of Realtors"

1. Take a 10 foot long 4x4 beam.
2. Using an air-powered industrial stapler staple the fingers and tongues of twenty Realtwhores to the Beam.
3. If the board touches the ground start cutting off toes.
4. Now bring in a prospective house buyer with a staple puller and let the bidding for lowest commission start. Oops, forget to mention all bids must be clearly stated in the Kings english or submitted in writing with a 500 word essay describing how well the contestant will represent the buyer. All essays must be legible and submitted in triplicate.

Anonymous said...

well it was not them that were the determining factor in all of this. actually it was the fed and the government that have done this thing. they had to do it in order to sustain economic growth in the united states. cheap money, freshly printed, was released unto the american public and the word went out......all who want to may have some......so ...many did.......to say that these small players and participants in this game are at fault here is like saying that the men who read pornography are the ones that are responsible for all of the rapes and mayheim in this world. however, we are willing participants in this madness. we, ourselves take what they give us and we gladly accept it all.....yes we accept it all.......when will the day come when we say no more......no more unconstitutional money lending, no more of this insanity. unless, we as americans face up to our shortcomings and realize what we should do in times like this and how we should be, there is no hope. it is like farmers who accept cheap loans for expensive farming machinery that they really don't need and then later on, they go broke from the debt burdens and the big corporations coms in and buy up the farm land........we must face up to it........things and material possessions mean nothing. the amount of money one has or where he or she lives means nothing when speaking of the character of a man. a man's character and his intrinisic worth cannot be measured in material ways. until we start acting like ourselves, until we become who we really are, as we are deep inside, and become the americans that perhaps we once were, this sort of thing will continue to happen time and time again. crass commericialism and monetary wealth is not what this world is about. we have been given a gift and we have blown it. we have become the people we used to hate. we have become like everyone else in this world and now we lead the way in immorality and corruption. we must look in the mirror and decide who we really are........one more time........and that is either willingly now or under duress later.....the choice is still ours.....i think........

Anonymous said...

The reason I am okay with a huge RE correction and economy bust, is because too many jackasses have made fake / unearned money. I've got a lot of savings and real estate that I've owned for the long run. It is a diversifation for my portfolio; not get rich quick, and nowhere near Orange County or even California. It is in the sleepy midwest, where a little 3 bedroom will cost you $100k. I'll be glad to see millions in pain over their stupid and greedy financial decisions.

Anonymous said...

ROCK--real estate clerk--Hard Place

Never a good place to try and earn a living.

Anonymous said...

No, they don't care. If they did, they would push thier clients to lower prices to rejuvenate the market.

Anonymous said...

Here's a clue for you all: when times get tough, the 1st thing that will be cut is IT spending as most CEOs see no value in it to begin with. Careful what you wish for.

March 31, 2007 2:46 PM
--------

Let me guess, you are some computer guy. Tough crap. You can always grap a rifle and head ot Iraq......

Anonymous said...

Anonymous said...
bloody good thing I'm in the oil industry (no bubbles here... Yet)

PetrolBull

March 31, 2007 2:50 PM
---

You just jinxed it!

Anonymous said...

according to the people who comment on this blog everyone knew what they were getting into. no one should be pitied. The worst was when people made comments that blacks were the like lambs to a slaughter. One mentioned maybe they should go back to Africa. Because they were the ones who were targeted by real estate agents and whomever and they just wanted to own a house no matter the cost and this is what happens when you are dumb and you can't understand a contract. No pity for you go back to Africa. Now you say it was the NRA, and every one else. You can't have it both ways. Either blacks and hispanics caused this fiasco (like most whites would love to blame) or it was the real estate industry. I still say in California the makeup of the state goes like just slightly less than 50% whites, 30% percent hispanics 17% blacks the rest are others. So I still say that greedy white people caused this mess and greedy white people will pay for this mess and drag everybody else along to the sewer pit with them. GREED GREED AND MORE GREED really caused this and once again "the love of money is the pathways to all evil" And it's showing up on the news everyday. I have no pity for the whites who bought 1 million dollars homes so they could show how affluent they are HA HA HA HA guess they weren't part of the old money crowd.

Anonymous said...

King George will save us.

hail to the king!

Anonymous said...

"in bad times IT will be cut"..... for all i know most of the IT jobs have been outsourced to India by our all knowing corporate heads. even his royal jackass excellency himself, bill gates was in mexico this week telling them how much he needs them to come here and take our jobs. IT jobs? what is that?

CashFLo said...

"Why are you people celebrating an economic collpase? It will affect you as much as anyone esle."

The RE bubble already has us "priced out", and we're working stiffs. Some of us are asking "priced out of what? Who cares?"

"A large majority of the responses were Engineer and/or IT related work. Here's a clue for you all: when times get tough, the 1st thing that will be cut is IT spending."

Here's a clue for you: we don't give a sh*te. We're debt free, money in the bank, smart, and aware. Ever see Office Space? Half of us are already thinking of maybe "just not coming in anymore". Economic collapse means we can finally get out from behind the machines, unplug from the Matrix, knowing we did our jobs right up to the bitter end. Many of us are underemployed and merely taking a paycheck, surrounded by idiots (could you be one of those pesky, even more threatened middle managers?) Why try to protract a rotten, unsustainable, ugly, cheap, corporate oligarchy? You need us more than we need you, fart face.

Anonymous said...

wow how many broke ass jealous A- holes are on this blog.
maybe you should change the name to broke ass jealous bubble dicks wishful thinking pencil pushers panicking about how to pay their rent .com
www.brokeassjealousbubbledickwishful thinkingpencilpusherspanicking bout howtopaytheirrent.com
Ha Ha if we go into recession you will be even more broke ass.
HA HA HA HA
this is very enjoyable

Anonymous said...

Is it the realtors or the fed ?
Never blame the fed for creating
the monetary inflation ?
Its like blaming the river for the floods, not the
rain or the mountains.

Anonymous said...

>>>Either blacks and hispanics caused this fiasco (like most whites would love to blame) or it was the real estate industry. <<<

Is that you Al Sharpton? I've been reading the various Bubble Blogs for some time now and race was never mentioned as a factor. It was only until recently when some politicians and "activists" realized that the blogs have it right and saw the opportunity play the "victim" game that race was ever mentioned.

The people affected were free to borrow money, buy property,invest, etc and they were free to hopefully make money. But with the freedom to make $$$ also comes the freedom to lose $$$. I know black people who made and are making money flipping and renting out real estate. No one is crying 'victim' or 'racist' for them.

Anonymous said...

a dime on the dollar to wash away the "froth" created by the credit bubble, and restore the values of thrift and savings, that were the strength and backbone of this country, and got the fields tended

Anonymous said...

"wow how many broke ass jealous A- holes are on this blog".

Huh? Oh, I get it - we're all just bitter renters. I love the "broke-ass" part. Let's see, how many HPers are broke. Oh...approximately none! What a maroon!