April 02, 2007

It's the little bubble blogs vs. 1.3 million realtors, $3.7 million in NAR bribes to congressmen, and $10 billion in advertising


And guess who's winning... he he he he he

It must be driving them crazy!

It's nice to see the people have the power now, isn't it? Cheers to the HousingPANIC community - the corrupt REIC never knew what hit 'em.
_______________


NEW YORK, March 28 (Reuters) - The subprime mortgage crisis and faltering new homes sales are raising concerns about the risk of major spending cuts by a real estate industry that puts more than $10 billion annually into advertising and marketing.

_______________

The REALTORS® Political Action Committee was the largest PAC contributor to U.S. House and Senate candidates in the 2006 election cycle, according to Federal Election Commission data reported by Political Money Line. As of the end of November, RPAC had contributed $3.7 million to congressional candidates,

17 comments:

David said...

Long live Keith!

GT said...

that 10B # cant be right

tmaioli said...

Go see 'in debt we trust', the people are waking up, there might be hope for the sheeple yet.

tmaioli said...

Keith - thanks for the time you put into this blog - for evil to succeed good men must do nothing, it's time to take back what is ours.

Anonymous said...

NEW YORK, April 2 (Reuters) - New Century Financial Corp. (NEWC.PK: Quote, Profile , Research) on Monday filed for Chapter 11 bankruptcy protection in the biggest collapse of a mortgage lender in the U.S. housing downturn.

The largest independent U.S. subprime mortgage lender filed for protection from creditors after several lenders forced the company to repurchase billions of dollars in bad loans.

New Century's largest creditors included Goldman Sachs Group Inc.'s (GS.N: Quote, Profile , Research) Goldman Sachs Mortgage Co.

Irvine, California-based New Century is the biggest casualty so far of the souring subprime mortgage market, which has forced many lenders to put themselves up for sale, to post losses, or to file for bankruptcy

Anonymous said...

TOKYO: Former U.S. Secretary of State Henry Kissinger, who helped engineer the U.S. withdrawal from Vietnam, said Sunday the problems in Iraq are more complex than that conflict, and military victory is no longer possible.

That is way we must move to Iran, to take the focus off Iraq. After all it was a staging area for Iran all along.

Trevor Cordes said...

Keith: get on this one, quick!

http://today.reuters.com/news/articleinvesting.aspx?type=bondsNews&storyID=2007-03-30T222154Z_01_N30353947_RTRIDST_0_M-TBANK-OUTLOOK-UPDATE-2.XML

or google search: M&T bank alt-a

Anonymous said...

Buying more than one home for vacation or investment purposes is not just for the affluent. The second-home buying market continues to gain momentum, thanks to baby boomers.

"I think it's kind of a dream for a lot of people."

"If the buyer looks at it from all angles, the second home provides a great opportunity for wealth building,"

"You don't need perfect credit," Walters said

http://www.kcci.com/
money/11457384/detail.html

Anonymous said...

It's baked in the cake!

The collateral damage from the housing market is already baked in the cake: Expect a continued slump in residential construction activity and employment, lower house prices that will force more subprime lenders to the wall and put strains on the most leveraged parts of the financial system and a slowdown in consumption expenditures.

Anonymous said...

Used home salemen trying hard to sell old homes !!!!

Just like selling USED CARS !!!

New Century files for Chapter 11 bankruptcy
Monday April 2, 11:17 am ET


NEW YORK (Reuters) - New Century Financial Corp. (Other OTC:NEWC.PK - News) on Monday filed for Chapter 11 bankruptcy protection in the biggest collapse of a mortgage lender in the U.S. housing downturn.
ADVERTISEMENT



The largest independent U.S. subprime mortgage lender filed for protection from creditors after several lenders forced the company to repurchase billions of dollars in bad loans.

New Century's largest creditors included units of Goldman Sachs Group Inc. (NYSE:GS - News), Credit Suisse (VTX:CSGN.VX - News), Morgan Stanley (NYSE:MS - News), Deutsche Bank (XETRA:DBKGN.DE - News), Bank of America (NYSE:BAC - News), Lehman Brothers (NYSE:LEH - News), UBS (VTX:UBSN.VX - News), Citigroup (NYSE:C - News) and Countrywide Financial (NYSE:CFC - News).

"We are only at the very beginning of the problems facing subprime," said Sanford Bernstein analyst Brad Hintz. "What you are seeing is that this liquidity crisis is continuing in the marketplace."

The 11-year-old company is the biggest casualty so far of the souring subprime mortgage market, where poor underwriting and borrower defaults forced many lenders to post losses, sell themselves, or go out of business.

New Century, like many lenders focusing on people with poor credit histories, was forced to buy back loans from investors that went bad just months after they were made, straining its finances.

Anonymous said...

housing crash? Not a chance!

FlyingMonkeyWarrior said...

housing crash? Not a chance!
(((((((((((((

GET A HANDLE FUC*TARD.

Anonymous said...

yep they are pissed at the blogs. how dare we? read something and talk about things they did not want us to. we should be so ashameed for ourselves for using our brains and researching instead of listening to their lying talking heads and their bullshit artists...God bless this last bastion of free speech, the internet. but alas one day this too shall pass....

Paul E. Math said...

"REALTORS® are second to none when it comes to participating in the democratic political process". Wow. That's how they spin bribery: participation in the democratic process. What is democratic about paying someone off to get your way? They have no shame whatsoever. And no respect for democracy.

Anonymous said...

Why do you guys care anyway. and how will you benefit from a housing or economic crash?
Its not like your rent will go down and its not like you will ever be able to buy so why do you guys care?
I know its because misery loves company.

Anonymous said...

all this gloom and doom and yet prices are down a whole 3% nationwide!!

WOWY-WOW 3% down from the peak.

Gee Mr. Keith, you sure called this one.

You Won't listen anyway said...

Anonymous said...
all this gloom and doom and yet prices are down a whole 3% nationwide!!

WOWY-WOW 3% down from the peak.

Gee Mr. Keith, you sure called this one.

BUT the NAR SAID
Housing never goes down!

Enron and Pets.com went down 3% from their peaks, does that mean we should all rush out and buy?

The crash does NOT always come fast, sometimes it is slow like a glacier and very painful.