May 09, 2007

HousingPANIC Stupid Question of the Night


What is the American Dream now that housing is dying?

50 comments:

Anonymous said...

The new American Dream will be getting rich quick in the stock market, as the financial powers inflate a gigantic equity bubble to replace the real estate boom. Look for a surge in the Dow to between 20 and 30 thousand by late 2009. It will of course, end the way all bubbles end, and this time it will drag the world economy down with it. Last great bubble train leaving the station, folks - all aboard!

Anonymous said...

Be on American Idol.

Anonymous said...

peace.

Mort said...

I dream of a stock market crash. That's probably not everyone's dream though...

Anonymous said...

Freedom from the hamster wheel of debt slavery.

I have a dream........where debt free little boys and debt free little girls save up for a downpayment with each other without regard for their FICO or outstanding balances.........

Anonymous said...

Anna Nicole Smith? No, she died along with real estate. I give up.

Anonymous said...

"What is the American Dream now that housing is dying?"

My dream is that people are forced to pay the consequences of their actions.

The idiot, who bought a house above and beyond their ability to pay for it, should lose it.

Those who took out interest only loans should pay the premium principal when due or lose it.

The predator lenders should be in jail.

The whore realtors should have their license taken away.

The appraisers who over valued homes should be banned.

If you drive drunk, you face stiff fines and jail time. Improper and unethical real estate practices ruin lives and should be dealt with the same.

Illegal criminal border crossers and those who outstay a VISA should be deported. Every single one.

I should not have to pay taxes without representation to bail out Dumb Asses.

I dream of a day when I am not penalized for being successful to pay for deadbeat, lazy, degraded pantywaist nincompoops on the dole through excessive taxation.

I dream of keeping what is mine.

Instead, I face a nightmare of wealth distribution in the name of political correctness.

Anonymous said...

I think the new American dream is to have a bigger tent than your neighbors. And more sheep.

Anonymous said...

What "will" be the American dream may be a better way to pose the question.

my guess...

food
gold
silver

my hope...

taking the time out to stop and smell the flowers

Anonymous said...

I think the new American dream is to have a bigger tent than your neighbors. And more sheep.

Smoey Bill said...

Based on that picture, I'd have to say a Hummer.

Anonymous said...

.
Housing never was the American Dream, that was all just slick marketing...

Anonymous said...

To hit the Lotto.

Either that or a harem of Russian mail order wives...

Anonymous said...

http://tinyurl.com/33cczc

listen to george carlin tell you how it really is.....

Lara_990 said...

To keep a job and food on the table.

No more entitlements!

Frank said...

I never considered home ownership a "dream." What a crock. A roof over your head is a necessity, not a dream.

If that's all people asipre to - a roof over their heads - then no wonder why less than 2% of people ever become wealthy. It would also explain the extreme laziness and indifference and lack of work ethic in most U.S. cities.

Joe Logic said...

Check out this funny YouTube video called The Crash. Kind of a past tense look at the bubble as the narrator walks around baffled as a bunch of Vegas/Scottsdale-type cocktail party phonies talk about how they got rich flipping condos. Funny shit.

http://www.youtube.com/watch?v=QqkbHV3C9L4

JAFO said...

Gambling !! Yeah, get rich quick by gambling !! That's the new paradigm. Hard work, living frugally, that is so 19th century. We should open casinos in every town in the USA. Casino gambling, state lotteries, stock market speculation, its all the same.

Now, who do you like in the fifth race at Churchill Downs??

JAFO

Anonymous said...

I think Americans are in a "get rich or die trying" mentality. Just look at the ".com" bubble, followed by the housing bubbble, and next will be the gold, silver and uranium bubble! Ride the wave baby! But take profit at or near the top.

Anonymous said...

too be free of debt and have more free time

W.C. Varones said...

Free cocaine!

Anonymous said...

No. The bursting housing bubble won't end the dream, it will just restrict those who can fulfill it in the short term.

TM said...

Now that the housing market is dying, Americans can go back to the old dream of owning a HOME, rather than an "investment."

garyk said...

The American dream will come true for me if Ron Paul wins the '08 election. Fat chance right? That's why its called a 'dream'.

David said...

I have a dream where major life decisions are not made on a whim and fed by greed.

Anonymous said...

I thought it was wife, two kids, dog, and house with a picket fence. Well, for half of us, wifey left, we never had any kids, and if you're a true HPer, you sold at the peak.

I guess I can still dream of owning a dog someday.

Anonymous said...

To see a line of buses stretching as far as the eye can see, heading towards Mexico, carrying 20+ million parasites back to their home country. Buh bye!

Anonymous said...

The American dream is always attainable to the intelligent and motivated.

For the general citizen, the new dream may be to live modestly, be debt free, healthy, and enjoy your work.

Anonymous said...

Cigarettes, alcohol, and entertainment usually do well in a depression.

Mammoth said...

Screw the popular American culture's dream of getting everything for nothing, consumerism, and not taking personal responsibility for anything (i.e. “it’s the Boomer’s fault, not mine.”)

The Mammoth’s dream is to pay off the house (still got ~10 years to go), ditch the long commute and become fully self-employed growing plants & vegetables and selling them at the local Farmer’s Markets.

To be become more self-sufficient, to spend my time outdoors tending plants instead of stuck inside a cubicle on a beautiful spring day playing office politics.

Your dream may be different, but you can still make it come true. First you create your ‘castle in the sky,’ and then you work on building a foundation underneath it.

-Mammoth

Anonymous said...

rent a 1 bedroom basement apartment like the typical HP poster....oh the joy!!

Anonymous said...

99 virgins in Heaven. Death to the East!

Anonymous said...

Free prostitutes and weed

Tyler Durden said...

I love this blog, coverrs everything from hard financial news to the psychology of mass hysterias....now we have showtunes!!

Joey said...

Start a tech company, grow it, sell it, retire at age 35 on the beach in Thailand.

Anonymous said...

Gambling !! Yeah, get rich quick by gambling !! That's the new paradigm. Hard work, living frugally, that is so 19th century. We should open casinos in every town in the USA. Casino gambling, state lotteries, stock market speculation--it's all the same.
___________________

This is the future all right, and there's already a direct link. Goldman Sachs & Co. is buying four casinos from Carl Icahn’s American Real Estate Partners for $1.3 billion....

Anonymous said...

The American is STILL -- get a good education, make a good income, live in a nice house, drive nice cars, eat well, exercise, enjoy family and friends, retire in style.

Some people are able to figure out how to accomplish this. You can't be lazy, you can't allow yourself to remain ignorant, you have to snap yourself out of the victim mentality and take ownership of your own decisions and your own future.

Condolences to those of you who can't figure out how to thrive in this environment.

panicearly said...

better leads?

Anonymous said...

>> too be free of debt and have more free time...

I hope you'll be using your free time for remedial grammar classes.

Luv-That-Bush said...

What is the American Dream these days? To hit it rich in the stock market or real estate by age 30, and then retire.

Cow_tipping said...

The new american dream,
Why ... that's easy ...
Its wanting to do those to wiggling chicks of course.
Cool.
Cow_tipping.

Anonymous said...

Living without debt!!!

Anonymous said...

Beanie babies. Cabbage patch dolls. Tickle Me Elmo. Those can only go up. A Fuller Brush distributorship. Addressing envelopes at home part time for $200,000 a year. So many can't-miss opportunities out there it just boggles the mind. There's never been a better time to buy if you want to retire rich at an early age without working for your money.

diver damn said...

I like the beenie baby anology, I had forgotten about the whimsical side of mass hysteria. Pogs were my favorite hysteria item. As an aside, I've forgotten the word for the masculine version of hysteria. Anyone know?

I'm 50. The dream wasn't to buy a house, owning a home was given as it was just shelter, the second thing required for survival after vittles, companionship is third [I think].
The dream was to strive. Not be the best but to be competent at whatever you did and to have your integrity unquestioned.

I think I'm there, but slightly depressed by it. Self Actualization shouldn't happen until your last breath, because what will you do after that to strive? I'm now looking around a bit more. I think this is where philanthropists start.

Anonymous said...

Gasoline.

Ed said...

I have a mirage …....
Grads who can find Tibet on a map without names.
Teachers who can explain both the how and the why.
Voters that know
'what goes around comes around'.

Bystanders who aren't so afraid.
Doing right by disabled war vets.
Real schools for a bearable future.

And maybe, bubbles for used Hummers and greenbacks.

Anonymous said...

To crush you enemies
See them driven before you
And to hear the lamentation of the women

Anonymous said...

"Gasoline."

Yep. I am amassing a pile of used tires and broken down cars that I can use to build protective wall around my refinery.

Trying to teach my kids how to throw a boomerang.

Anonymous said...

JAFO hit the nail on the head. Gambling will be the craze of the future. However, I'd like to propose taking it a step further. I really like the idea of placing slot machines and casinos in all our schools, which are chronically short of funds. Besides, taxpayers are always whining about taxes being too high, and are reluctant to give the schools any more. This would provide more money for the schools AND give taxpayers some relief.

But wait! There's more! Schools could excuse students from class several hours a day to allow them to go to the casino. Winners of jackpots could be congratulated the following morning during announcements, right after reciting the pledge of allegiance. That might encourage even more players that day. AND, several hours spent gambling would not only relieve students from the intolerable drudgery of constant test-taking, but would also help prepare them for making a go of it in tomorrow's world. Those classes would do little more than prepare them for some crummy job as a waiter, fry cook, or bellhop, which is about all that will be left here in a few years. Learning gambling skills will at least provide them with a chance at a big payoff someday. They have already witnessed the stupid mistakes their unsophisticated parents made by investing in pets.com and some overpriced, worthless, tract crackerbox way out in the desert, and simply want a better life for themselves.

The best part - EVERYBODY WINS. Schools, taxpayers, students, and society.

Anonymous said...

Becoming Paris Hilton.