April 22, 2007

What exactly are HousingPANIC trolls hoping to accomplish?

Do they think trolling HP will help get people to buy houses again, regardless of the crash underway?


Perhaps they're Desperate Homedebtors who think if all this housing bubble chatter nonsense would stop, they could get right back to their annual mortgage equity withdrawals?

Maybe they're just striking out in anger at the messenger, since Charles Ponzi isn't around to take their call?

Or in their heart of hearts do these ramen-eating mortgage brokers and realtors truly believe the housing crash will just blow over, and a return to glorious commission-filled days is just around the corner?

I just don't get it.

Tell you what, HP trolls - tell us why you come to HP to spew your lies and anger. Help us understand the mind of a troll. And oh, one word of advice.

Rent.

30 comments:

Anonymous said...

They're just mad and don't know who to strike out at

David in JAX said...

The RE Trolls blame the media for the decline in home prices. They see the media as their “enemy.” Since blogs are a part of the media where they can actually print their thoughts, they use their posts to lash out at their “enemy.” It’s not just blogs either. The same thing happens in local newspapers and on local radio talk shows. RE Clerks constantly write / call in to tell readers / listeners about how the local media is destroying the RE market and how the media should stop printing lies so prices can go back up. It’s very pathetic. I know that when I see a troll talking about how HP is completely wrong because prices went up in a single area code, I think of a desperate RE clerk or a FBer who is desperate to lash out at someone because they are losing everything.

eternitus said...

Usually, people can blame something beyond their control for their problems or downplay the severity of their failures. When making a bad buy in an asset, its not so easy to downplay your mistake, especially when a big negative $100k shows up on your bank statement.

Keep it up!

traineeinvestor said...

Do you mean "mad"as in angry or is that a medical diagnosis?

The reason people usually lash out is not anger but fear - in this case fear of facing up to the facts.

Anonymous said...

The majority of Americans have a vested interest in this bubble continuing

Anonymous said...

Honestly I do not know. From the commentary I've seen from trolls its like they are suffering from an inferitority complex and out of desperation they are lashing out to try and boost their self-esteem. Any scintilla of info that is spun toward the positive is pounced upon and trumpeted as proof HPer's are all wrong. Yes, such info is just spin & even if true stands isolated against an ocean of information that says there is only trouble ahead in homebuilding, in realty, in mortgage banking etc.

Anonymous said...

I have been called a troll here many a time. I have the same vested interest as you wackjobs, I am renter. I too though a crash would materizalize. I was wrong. Unlike you, I am man enough to admit I was wrong and made a mistake selling my home. Where I live prices are off 5% at most since I sold early last year. Add the costs of selling, buying again and moving twice and so far I am well below a 5% loss.
You people live in an alternate reality of 25% price drops. I wish it were so, but it isn't and the odds of it happening are getting smaller and smaller.

Anonymous said...

I'm not a Troll - I'm a Troll-American!

Hayley said...

Get ready for the great leveling (i.e., diminishing others to inflate oneself) accompanying the great unwinding. It's quite an ego crash going from successful speculative investor to pathetic ponzi scheme suckah.

--Aren't you glad you don't have to wake up to that reality everyday.

--Aren't you glad the car in your driveway is paid for.

--Aren't you glad that you get to run your discretionary spending and actually enjoy spending your money (or not).

I don't take pleasure in other people's financial misfortune, but I'll be damned if I pity it either.

Be gracious HPers. Living well is the best revenge.

Anonymous said...

Anonymous said...
The majority of Americans have a vested interest in this bubble continuing
~
Yes, that's why it's going to end so badly. Just because Americans have an interest in the bubble continuing doesn't mean it WILL continue.

All of the troll posts I've seen have been extremely feeble.

Anonymous said...

RE Clerks constantly write / call in to tell readers / listeners about how the local media is destroying the RE market and how the media should stop printing lies so prices can go back up.
+++
They're wasting their time and energy. Prices CAN'T go back up and they should just accept it and figure out what kind of real job/career they're going to seek next.

Anonymous said...

hayley,

I can answer yes to all of your questions. And I own a home too. Imagine that.

Anonymous said...

"the odds of it happening are getting smaller and smaller"

So what is different about the fundamentals? Sellers remorse - stiff upper lip! Did you miss the discussion that said RE bubbles can take years and years to deflate? "Crash" doesn't necessarily mean "overnight" in housing. I think the odds are you are going to be sitting prettier and prettier with time. Patience.

Anonymous said...

I'm not a troll, but I'll comment.

The majority of Americans have a vested interest in this bubble continuing

Damned straight. In fact, I'd add the adjective "overwhelming" before the word majority to describe those Americans who want the bubble to continue.

The REIC puppeted the media to get the ball running, and now is upset they cannot similarly distort reality to keep the bubble going. Classic, as they can't see the big economic picture of how asset prices, whether stocks or houses or alpacas, DO have real-world limits when evaluated as investments.

Of course, the REIC truly believed their spin was necessary to spur people into doing what they were basically looking to do anyway. Of course, the spin was so strong we had buyers who were begging the MB to sell them a home! Fear is a strong motivator.

People get on their "broken record" thought patterns ("real estate only goes up", etc), and assume that they never have to re-analyze the truth or consider changing positions in the future: it's called 'intellectual laziness'.

The key concept is people hate CHANGE, and will do WHATEVER they can to avoid having to change. Human nature.

Anonymous said...

Your true personality comes out when you're between a rock and a hard place.

Trolls are mean people. End of story.

Joe Logic said...

I enjoy the trolls. They're feeble little beings who have an inferiority complex that feel the need to overly reinforce their denial opinions. It's becoming harder to accept reality that the RE job or bad condo flip is vaporizing, and its gonna be ramen noodles and gourmet cat food real soon.

These days we're seeing a lot of these last gasps of desperation denial: "Prices only dropped 3%, where's the crash losers!" It's the equivalent to being about Feb-March 2000 and some troll saying "See you fk*in dot-com doomers, pets.com is still in business and is growing unboundedly, and they just got another $10 million in VC funding, suck on that losers...!"

Um... yeah. We all know how that ended up.

anon666 said...

I too though a crash would materizalize. I was wrong. Unlike you, I am man enough to admit I was wrong and made a mistake selling my home. Where I live prices are off 5% at most since I sold early last year. Add the costs of selling, buying again and moving twice and so far I am well below a 5% loss.

Oh, and trolls are impatient too. Geez dude, the party just started about a year and a half ago. Real Estate cycles are long (7 yrs), much unlike the stock market, which can crash suddenly.

If you are so worried I'm sure most posters here would recommend that you buy a house immediately, before you are left out of the housing market forever.

Anonymous said...

I have a working theory: HP trolls have small thingies. To componsate, they got on the 100% financing boom and bought a home at the top. Then they HELOCed whatever equity there was to buy the hot sports car "to get the chicks".

Well, they wound up getting caught on NBC's "To Catch a Predator" and that use on the net is over for them. So now, trapped in their depreciating home, and awaiting trial, they're here because this blog tells the truth about the housing market. And THEY CAN'T HANDLE THE TRUTH!

So be prepared, for HP is cheaper than therapy, so they'll be sqwuaking in the comments here THE WHOLE WAY DOWN, that is until they're foreclosed upon and their ISP cuts them off.

Anonymous said...


Oh, and trolls are impatient too. Geez dude, the party just started about a year and a half ago. Real Estate cycles are long (7 yrs), much unlike the stock market, which can crash suddenly.


OK Einstein, point me to a 7 year period where prices fell anywhere close to the 50% crash you fools talk about. And don't give me Texas in the 80s. Oh but I know, this time it's different and special.

keith said...

Gotta love the troll argument that since houses haven't crashed 50% they never will

Uh, troll, houses never went UP like they did during this last mania.

Yes, in this respect, it truly IS different this time

Get on record with a user name too, you gutless anonytroll. We want a name so we can mock you during this crash

he he he

Hayley said...

Hey anon.... I don't own my home, (yet), but that's only cause I'd rather keep my money invested elsewhere...

I have a friend who's brother is deep in the thick of the real estate business here and who I actually admire as self made with no (or maybe just a little) help from Daddy.

I was talking to him last year and he was sooooo excited about the wave of liquidations and second home purchases coming from the baby boom retirees.

I do see this as a potential savior of at least some the housing market (at least for vacation homes and 1 story ranches). Especially if they can be picked up at cheap prices.

From what I can see these people are picking up 5K or more a month between pensions and SSI. Many of them retired before they were 60. I doubt that will happen (despite all the prognostication) for people born after 1955. People at my workplace who are eligible to retire don't, or do and then turn back around and come back 2 days a week. It's really a win-win, they don't have to rehire as many people and it strikes a perfect balance for someone who is really too young to retire. (It really is absurd that you are supposed to legally spend 2/3rds of your life span living (i.e., childhood and old age) not contributing via some form of productive work. Retiring from a manufacturing or any physical labor job at age 62 is wholly reasonable, but from pushing paper in some white collar profession. PLUH-EASE

I of course exempt all the early reitirees here who have had the forsight to build a fortune via planning and forsight (or maybe just shorting Countrywide

or is it Idymac...
or is it Toll Brothers...
or is it Lennar....
or is it WAMU....

:)

That's not lazy or entitled, that's just play the game well and playing it fairly...

PS The house up the street from me today sold in three hours. Ya know why, they priced it reasonably at $175K. I live in a cute little middle class neighborhood in a mid-sized city and the house needed some updating, but was well taken care of otherwise. By comparison I have a friend who's house is in one of the city's nicer neighborhoods, but has been sitting for over 2 years because he refuses to take pre-2005 prices.

Hayley said...

Hey Troll I can at least give you a close example.

We bought this house in 1989 for 89K at the tippy top of the local real estate boom (I can still hear my boss telling me real estate never goes down).

1 year later it appraised for around 68K (ouch). We didn't care, bought the house cause we liked it, not as an ATM machine.

Now this was in an era when there was no such thing as exotic mortgages and "flipping" was something you did to your pancakes in the morning before going to work.

You do work don't you????

But anyway, I digress, my point being that:

the access to credit
created the housing bubble
that jack(ass) built..

Can't see a 50% decrease in credit access? I sure can...or how about a 25% decrease and no appreciation on the house your trading up from...

Maybe Keith will come back from London with all the expats and buy you house. The US will be kind of like a South American real estate mecca for Europeans...

Anonymous said...

"OK Einstein, point me to a 7 year period where prices fell anywhere close to the 50% crash you fools talk about."

1929--1936

Hayley said...

Touche!

Hey Keith, why don't you pay Serin to troll HP. We all know he could use the money.

panicearly said...

Troll this

1991-2006 70%-90% CRASH in Tokyo
http://tinyurl.com/3xvdef



This is a pdf file from Japan External Trade Organization(JETRO)

Dane said...

Today in Newport Beach I drove past the entrance to a gated community and there were over a dozen "open house" signs dotting the hedges in front of the gate.

I wish I had my camera. I'll get you a picture next weekend, Keith.

Anonymous said...

"OK Einstein, point me to a 7 year period where prices fell anywhere close to the 50% crash you fools talk about."

Hong Kong 1998-2003 down about 65%. And still down from it's '97 peak TEN YEARS later.

Anonymous said...

Greed run amok... thats what it all boils down too... its not almighty god anymore, but almighty $... we'll all burn in hell people, thats a no go...

Anonymous said...

still waiting for the crash and houseing to pop????
still not hear...you guys are really idiots....nothing is going to happen. Houses are still high and will never go down....what a joke this site is!

Anonymous said...

Anonymous said...

still waiting for the crash and houseing to pop????
still not hear...you guys are really idiots....nothing is going to happen. Houses are still high and will never go down....what a joke this site is!

April 23, 2007 2:56 PM

Sounds like a realt-whore.