What will be the unintended consequences of the housing crash?
May 30, 2007
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48 comments:
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The unintended consequences is me buying your foreclosed house!!!!
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Well boyz and girls...
I have connected 9-11 to the Oil Grab
I have connected immigration to the Oil Grab
I have connected food production and food transportation to the Oil Grab
And now I will connect the last and final dot to the Oil Grab.
The effect of the housing crash and what that means for global economies.
Let me lay this out for you real simple like (I know trolls have a problem READING):
1) economies are based on the sale of goods and services.
2) these goods and services like oh factories and carpet cleaning vans all need energy to keep running.
3) an analogy is like riding a bike...if you stop - you fall off.
4) well our economy is like riding a bike...cheap oil has been around to keep that bike going.
STOP!!! Remember that bike analogy thingy I just pounded out.
5) well - the housing crash has triggered a credit contraction of herculian proportions 300 TRILLION to be exact.
6) No mo' credit...no mo' buy'n cheap shit from walmart and guess what...china stops buy'n our debt.
7) Ergo ....Massive depression
OK BACK TO BIKE Analogy thingy...
8) as this Depression picks up speed and our NAZI prez Hillary is looking for some type of CCC work to keep the tools at bay...GUESS WHAT??
CHEAP OIL WILL NOT BE AVAILABLE...AND MANUFACTURING/SERVICE/FOOD PRODUCTION...WHATEVER WILL NOT PULL THE WORLD OUT OF THIS TAIL SPIN.
Let me repeat that.
CHEAP OIL WILL NOT BE AVAILABLE to fire up the factories, to build bridges, or wind turbines, or CCC projects.
Got it kiddos?
Game OVER
Enjoy the die off.
Cheap houses ... woohoo! The real investors with brains make money after the crash, not on the way up like the FB's thought they were.
1. The first Black President will be elected by a landslide.
2. People will start to fall off tall structures.
3. Ebay's stock will triple and split.
4. Starbuck's will close 50% of it's stores. So will Nordstrom.
5. Mexico will build a fence along the border.
6. The NHL, NBA, and the NFL will fail. Ultimate fighting rules.
7. Camping will gain popularity
8. Sheeple at the watercooler will brag about what a great deal they got on a rental property from a FB, only to get kicked out 3 months later by the local sheriff because he still didn't pay the mortgage.
9. Prostitution will become legalized in Florida, California, Nevada, and Colorado. But not in Arizona because of opposition from Greg Swann.(Realty hoe's gotta eat too!)
10. Whites will move back to the "hood" arguing that they had it first.
BONUS: Casey Serin will buy the whole city of Clevland.
RayNLA
Innocent people will die. The U.S. government will be seen as weak and unable to fix peoples lives. We will be tested. Lives will change. Look at the last Great Depression. I hope it doesn’t get that bad.
The exurbs become slums; McMansions are converted to ghetto apartment complexes.
I'm worried most about millions of involuntary landlords. What will the renting environment look like when these jackholes are f*cking up the property, their finances, their relations with the tenant, the maintenance, the municipal courts, and everything else that they simply had ZERO thought for beforehand (that is, BEFORE they realized that instead of flipping the property, they had to hold it for 5-10 years)?
It's getting to the point that tenants have to have a LANDLORD fill out an application so they can check out the LANDLORD's financial stability first!
Greg Swann working as a male prostitute
The prostitution issue is not a laughing matter.
When states become strapped for cash, one of the first things they look for is the legalization of vice! The town of Pahrump is a cash cow for the State of Nevada in regards to its legalized brothels.
Be on the lookout for the states of Kentucky, Tennesse, Virginia, Georgia,and the Carolinas (tobacco growing states) working in tandem with RJ Reynolds and Phillip Morris lobbying the Federal Govt. to legalize marijuana!
The legalization and taxation of prostitution and marijuana in several states could probably wipe out the national debt!!
Churches and religious groups will object to this on moral grounds but the real reason is churches are competing for disposable revenue that will go to vice instead of their collection plates.
Remember, religion is a business!
The unintended consequence of the housing crash will be that universal health care will be adopted much faster in the U.S. than it otherwise would have.
Also, I believe you will see very aggressive prosecution of RICO conspiracy cases by the state attorney generals against fradulent rackets of mortgage brokers, home builders, and lenders who conspired together. This will set a precedent in the U.S. for punishing systematic corporate fraud that harms the public welfare.
I believe the REIC is already anticipating such lawsuits and doing what they can to slim down and make themselves lower profile civil/criminal targets.
It's getting to the point that tenants have to have a LANDLORD fill out an application so they can check out the LANDLORD's financial stability first!
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Truth be dat.
HAHAHA!! A crash implies falling prices.
Exurbs become slums, drugs are legalized in Virginia. I ask again what planet do you people live on? The tin foil hats need to come off guys.
Casey Serin gets rich from failure
Ramen noodle sales soar
First Anon: 'buying' is a gerund; it needs to be possessed: it's MY buying your foreclosed house.
everyone rushing into pesos because the dollar isn't worth the paper it's printed on... and a lot of homedebtors hopping the fence to get into Mexico!
If would be nice if we could just skip the next phase. Guessing the specifics of the unwinding probably won't help much anyway.
Eventually, the state economies return to agriculture based/labor intensive economies with no concept of entitlement. There are no more flippers or consumers, only producers and trading.
If you have nothing of real value and no trading skills, you get weeded out in the next phase.
The housing debacle is helping many people to discern what has real value and what doesn't. (It isn't the cause of the problems; it is merely a clue on the next phase.)
Robert Kiyosaki and Carlton Sheets will be in cash.
As peak oil symptoms force suburbs to become ghosttowns, I foresee nature reclaiming suburbia. Imagine hundreds of cookie cutter homes 75 miles outside of town filled with varments and ferile cats. It'll be the new frontier...watch out for rabies I guess.
>> 6. The NHL, NBA, and the NFL will fail. Ultimate fighting rules.
You forgot that most stupid of games, baseball. Yeah, what a "sport" THAT is...
All I know is what happened in the 1991 California crash.
1. Huge losses to REIC jobs. Appraisers, lenders, realtors, builders, suppliers. Many associates of mine lost homes.
2. Huge cut backs in luxury spending. Designer clothing, restaurants, vacations, cars.
3. Asset sell off. Housing prices fall along with personal portable objects which were sold off to postpone loss of housing.
4. Many people moved into the cities for work from the burbs and outlying communities. You will see surplus U-Haul trucks in the cities, and none in the country.
5. In general, spending is suspended due to poor consumer sentiment, worry, and job loss. The rich focus all their funds on bargains. There is no trickle down effect.
6. In this period the stock market went up while money left one investment and flowed into another. Consumer necessity based commodities were inflationary while luxury assets depreciated.
This is my actual experience.
Unintended consequences? Broke Boomers: fat, suv driving, viagra taking, ice cream sucking, second mortg holding, poker playing, ad nauseum, blow hards.
Soviet Union suffers worst wheat harvest in 55 years... Labor and food riots in Poland. Soviet troops invade... Cuba and Nicaragua reach troop strength goals of 500,000. El Salvador and Honduras fall... Greens Party gains control of West German Parliament. Demands withdrawal of nuclear weapons from European soil... Mexico plunged into revolution... NATO dissolves. United States stands alone.
Quote of the day from CNN article entitled:
"Wow, I could've had a prime mortgage:
Why many borrowers who qualified for prime-rate loans wound up with subprimes instead"
"People take things too nonchalantly," said Hardester. "If you've got plenty of money and don't mind not getting the best rate, listen to your realtor."
http://money.cnn.com/2007/05/29/real_estate/could_have_had_a_prime/index.htm?postversion=2007053011
Anonymous said...
Greg Swann working as a male prostitute
May 30, 2007 9:05 AM
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But that's what he was doing before the bubble burst!!
Lots of unemployment, that's for certain, of course the sheeple will believe the unemployment figures until they themselves are unemployed, then maybe, just maybe, they'll start to doubt the official government figures. But here is a juicy tidbit to help grease the current trends:
IBM executives say they expect no more layoffs this quarter. But other shifts like this -- IBM calls it "rebalancing" -- figure to follow from time to time.
That's because IBM's services overhaul not only involves cheaper labor -- IBM's work force in India rose from 9,000 in 2003 to 52,000 last year -- but also a quest to use less labor. That means rethinking and sometimes automating the ways that services contracts are carried out. IBM launched a program called LEAN last year to find such opportunities.
The only thing you can do to protect yourself is work for gubmint or TRY to find a job that cannot be outsourced and that still pays enough to afford more than a mobile home.
1. US sells the southwest to Mexico to raise cash.
2. Hookers become cheaper.
3. Baby Boomers pimp their wives and daughters.
4. Gen X&Y women, sell themselves to foreign men, a la Russian women in the 90s.
5. People use US dollars to wipe their a**es.
A world that looks like Brazil. Livable, but tough if one is not rich.
Deflation is coming.
The new nuclear arms race with Russia will bankrupt the US this time.
Russian women who sold themselves to escape poverty will head back to the motherland. (Hot)American women will follow. The ugly fat ones will be all that remains.
The shortage of corn (due to all the ethanol production) will cause the Mexicans to riot.
They'll call it the "Tortilla Insurrection"
poor poor renters, your dreams of a housing crash are vanishing and at the same time your jobs are all being outsourced too. oh man i'd hate to be in your shoes these days. should have listened to those PSAs and stayed in school
haha losers
NAFTA gave us
Politicians with
Canadian manners and
Mexican corruption
That left the US
Scrapping by at the Company Store
Housing Bubble
Early retirement under a bridge
Your neighbor
Formerly a credit card/romper room republican
Cornered the dog food market within walking distance
Offers 2 cans for a dollar no down payment 18% interest
Plus ½ a point for use of the can opener
Also thinks you should shovel the latrine cause his S don't stink
Great Depresssion II starts.
The next FDR is assassinated, replaced by the next Herbert Hoover administration, Gingrich/J. Bush
Ultra rich get richer. Everybody else gets the shaft.
Federally hired mercenaries and selected US troops raised on Christian EndTimesism violently suppress rioting in major cities.
Most Democratic states declared "in rebellion" by President, habeus corpus suspended, and their Congressional delegation arrested. New Congressional majority (minus CA and Northeast) is 2/3rds Republican, passes Presidential Emergency Enabling Act giving 'signing statments' force of Federal Law and permits Executive orders to have similar force. Allows secret Federal statutes to be passed and be enforced for national security reasons.
Supreme Court approves after quick deaths of justices Stevens, Ginsburg and Souter.
Governor Arnold Schwarzenegger (no longer R-CA), leading YouTube resistance broadcasts from CA Guard bunkers is charged in absentia with sedition, along with Google.
B-2 airstrikes destroy all CA guard installations, CA power plants and all major bridges.
regarding the anon "poor poor renters, your dreams of a housing crash are vanishing.."
you do realize, housing is crashing. 11% off the median price just last month. weeeeee, riding this roller coaster down baby.
Recall the 1970s when Americans started buying smaller gas-efficient cars...
Who bought the used Cadillac's and the Lincoln's? Those who could least afford the insurance and gas on those stylish acre-of-hood boats. The less sophisticated buyers will end up in these cavernous liabilities we have come to call Mc Mansions.
These large new homes are all eventually headed to the local planning boards to be reconverted into multi-family units just like the grand old homes in the innner cities back in the 1960s.
History doesn't repeat itself, but it sure does rhyme...
Mark Rhymes
http://www.marketrhymes.com
I haven't seen this on HP yet, but at some point, people will discover that arson is a way out.
Anon May 30, 2007 5:06 PM said:
“The new nuclear arms race with Russia will bankrupt the US this time. Russian women who sold themselves to escape poverty will head back to the motherland. (Hot)American women will follow. The ugly fat ones will be all that remains.”
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Back in the old days, in order to make a fool out of yourself in front of a lot of people, you had to get in front of a news reporter and camera. But now - thanks to the Internet - a person can demonstrate to the whole world what a complete idiot they are with just a few clicks of a mouse.
Your post is a perfect example of this quantum leap in technology. Good thing you are hiding your identity by remaining anonymous.
Mark Rhymes is right!
I forgot all about that! That's how the ghetto in St Louis and other places got started, no one wanted to live in the huge Victorian houses. I remember getting lost in St Louis...rows and rows of what must of been the most beautifull houses of the day, all boarded, bent, unmaintained, god knows what/who parked on the front porch looking as vacant as the burned out house next door....
I was raised in AZ [Have all my teeth, ok, some are in a jar, but thanks for asking] so I was mesmerized by both the ghetto and the past granduer. I had never seen a Victorian home except in the movies, and had never seen a congregation of slummers before. And I don't mean poor people, I mean live there 'cause they want to type people. McMansions will be taken over by extended families using welfare as a life style. Escalades will be driven by those of low means.
Nothing wrong with that. I had a HUGE '69 Impala big block back in 1977 when I was an E-1. It was all I could afford. I fell into the trap, others will follow.
Gen X&Y women, sell themselves to foreign men, a la Russian women in the 90s.
You couldn't get $5 for a bus full of those b_tches...
to roccman:
re: CHEAP OIL WILL NOT BE AVAILABLE...AND MANUFACTURING/SERVICE/FOOD PRODUCTION...WHATEVER WILL NOT PULL THE WORLD OUT OF THIS TAIL SPIN.
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Dont forget the new sources of energy that will make gas engines a thing of the past. Gas, someday, will be outlawed, when the new FREE energy discovery kicks in. This new FREE energy will have the power equal to 40 billion suns. Endless.... Bush, Cheney and the rest of his terrorist regim will be in prison and peace will rule the globe.
turdly said...
Mark Rhymes is right!
I forgot all about that! That's how the ghetto in St Louis and other places got started, no one wanted to live in the huge Victorian houses. I remember getting lost in St Louis...rows and rows of what must of been the most beautifull houses of the day, all boarded, bent, unmaintained, god knows what/who parked on the front porch looking as vacant as the burned out house next door....
Turdly is right!
I am from the same Ghetto neighborhood he is describing, and even as a kid I was always in awe of the victorian homes and their grandure. I was back there last week for a graduation and rode through some of the old neighborhood and they are fixing some of the old homes up but most are in sad shape.
RayNLA
Clinton will be elected, an Iranian Nuke will go off in a major US City, the second Depression will begin...
Rome is falling...
Small Hat
Low home prices would be a terrible thing for realtrolls and mortgage brokebacks. Families will be able to afford to live in a home without struggling to pay their mortgage. The HORROR!!!
Great Depresssion II starts.
The next FDR is assassinated, replaced by the next Herbert Hoover administration, Gingrich/J. Bush
Ultra rich get richer. Everybody else gets the shaft.
Federally hired mercenaries and selected US troops raised on Christian EndTimesism violently suppress rioting in major cities.
Most Democratic states declared "in rebellion" by President, habeus corpus suspended, and their Congressional delegation arrested. New Congressional majority (minus CA and Northeast) is 2/3rds Republican, passes Presidential Emergency Enabling Act giving 'signing statments' force of Federal Law and permits Executive orders to have similar force. Allows secret Federal statutes to be passed and be enforced for national security reasons.
You know how lie detector test are not held as proof in a court room but are sometimes considered and given some weight..... I think a post like this should be given admitted into a mental competency hearing.
How do we slide from a reasonable position like Casey Serin is an idiotic investor to paranoid, misanthropic wack-off dreams?
This is easy to predict: SOCIALISM.
The socialists are already warming up for "universal" health care, which is a nice name for Cuban style socialist health care. Heck, even Socialist Michael Moore made a movie about it.
Beyond that, well enough socialism to make the US look like England.
I have property overseas, I'm here for work, but staying in the US now is like being in Russia in 1916.
Mark Rymes has an excellent point.
I saw it happen about 15 years ago in a small town in California after real estate went down. The new houses in town were the forerunners to today's McMansions. They were far bigger, and had smaller lots, that the "old fasioned" homes that were often only 1200 sq ft, but of solid build, and on quarter acre lots with trees on them.
The new homes were purchased by yuppies, but after that little bubble burst, the welfare families did, indeed, move in. These kinds of neiborhoods look like CRAP if they are not mainatined well. The wooden fences started to fall apart, the weeds pushed up the concrete everywhere, etc. Without backyards big enough to accomodate their dirty, mouth-breathing, low IQ children, the streets were full of little half-wits, the new generation of welfare recipents and crimianls, riding around on big wheels. I visited that same area about 8 years later, and the streets were plugged with gang-banger style Chevies, with grafitti all over the place. Indeed, it was a ghetto where the newest, not the oldest, homes comprised it!
I'm seeing the SAME THING shaping up right now in the same town. K-B is putting up hundreds of these vulgar McMansions, which have already toppeled $80K in value. Only things are going to be worse this time around, since this is in California where illegal aliens now get about $33K a year in subsidies per year; they are moving in a 10 or 12 to a house, and will soon fill those entire developments.
Middle America is so arrogant that it does not grasp the concept of decline, and it is in for a RUDE awekening.
FYI my pals in real estate in that town report that the $1million and up homes are doing just fine. The rich folks are actually doing better, but the middle class is in free fall (and doesn't know it yet) and will soon be living next to illegal aliens. The school alrady turned to shit, my pal's kid came home from 3rd grade and asked what "chinga tu madre" means.
all of you people sound so ignorant, trying to sound smart your just making your self look even more stupid.
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