I'm feeling lazy today. Maybe it's the sadness of not having HP whipping boy TCDL around anymore. Maybe it's the deluge of housing crash stories and reports to sift through. Maybe it's the weird level of denial still out there around the world about what's coming. Or maybe it's the boredom of that terrible Republican debate the other night (300 million Americans and that's all the GOP can come up with?)
So you guys take over HP today. Post articles that you want discussed over the weekend. List any topics you want covered. Blow us away with any local stories of housing stupidity. And rant away.
67 comments:
From Mike Thomas:
Here is a seemingly authoritative site that says Central Florida is over-valued, but not as bad as a lot of other areas of Florida.
______________
Interactive National 'Bubble City' Map
http://tinyurl.com/yr23wb
Mike Thomas Orlando Watcher
OC prices are up. LA prices are up. Seattle prices are up. Portalnd prices are up.
DOW is setting record highs every day.
Unemployment claims are at 300,000 weekly (same number as 10 years ago with a 15% more people in the US).
When do you fools admit defeat?
Hovnanian Widens 2Q Loss Projection
AP (Fri 7:50am)
read http://finance.yahoo.com/q?s=HOV
People in California growing pot inside specially remodeled homes bought with easy credit.
It doesn't get funnier than that, folks.
http://www.latimes.com/news/local/la-me-housepot6apr06,0,7497628.story
To borrow a phrase, what a country!
Keith that is a really dumb thing to say. You are taking the day off so we should take over? How are we supposed to do that with comment moderation enabled? I think you are a couple of bricks short of a stack.
"DOW is setting record highs every day."
Not in inflation-adjusted terms.
http://bp0.blogger.com/_1V7wnZxPqok/Rh8dhrfl8MI/AAAAAAAADwI/CTJufpGlnJM/s400/dow+jones+inflation.gif
When do you suckers quit watching the cheerleaders on CNBC?
Ground zero report.
Here in Ca., several people I know, along with their co workers have been layed off recently. They were employed by large and mid-sized builders. Also plenty of stories about mass staff reduction of other builders but, I cannot genuinely verify this.
These people were management and field supervisors not tradesmen.
What this tells me is the barge is coming to a halt. The "building machine" is now being disassembled and moth balled as sales are too slow to continue production.
I feel bad for them as they were simply doing their job and earning a living. They are not responsible for what has happened in the industry but will suffer along with the rest of U.S.
"OC prices are up. LA prices are up. Seattle prices are up. Portalnd prices are up"
Great. $600,000 for a sh*tbox in Compton. Have fun with that, realtwhore.
Far more people leave CA than go there, within the USA. The only reason CA is still increasing in population is (illegal) immigration. More crime, more graffiti, less English.
That's what you get for your $600,000.
As for Seattle and Portland, who cares? The entire left coast is idiotic. Prices are falling in the rest of the country, everywhere west of CA, OR, and WA. So who cares what a bunch of nuts in those states say? Illegals run CA, and they're working on running OR and WA as well.
More for the guy above that thinks all is rosy:
"OC prices are up. LA prices are up. Seattle prices are up. Portalnd prices are up."
Uhh, San Diego prices are down. Sacramento prices are down. Bakersfield prices are down. San Francisco prices are down. Medford prices are down.
"Unemployment claims are at 300,000 weekly (same number as 10 years ago with a 15% more people in the US)."
Not according to the latest numbers. Unemployment is going UP and worker's wages are stagnant:
http://news.yahoo.com/s/ap/20070504/ap_on_bi_go_ec_fi/economy
CA, OR, and WA are toast just like the rest of the USA is right now.
Like so many things of this nature, the saying
"These things take longer than you think, even when you know they take longer than you think"
applies.
I've be reading HP for a year and a half, and a lot has happened. This ball of string will take years to unwind, and will seem boring at times Keith... but that doesn't mean HP wasn't right.
On this morning’s bus ride to work, an older woman sat down next to me and we had a nice conversation. She was on her way to the hospital for cancer treatment. She went on and on about how nice and caring the hospital was. I said to her, “All these hospital visits and treatment are so expensive. How are you able to afford it?”
She replied, “Oh, I work for the State. They pay for all of it!”
Is there anybody out there in HP-land whose (private) employer pays 100% of health care costs? Man, it scares the crap out of me to think about how I would pay for treatment for a serious injury or catastrophic illness! So much for the dream of retiring early…but no worry – this sort of thing only happens to other people – right?
The hospital wouldn’t be so nice and caring to you if you couldn’t afford their treatment, would they..? But meanwhile the govt. workers, illegals and the top 5% don’t have to worry about medical bills. Don’t get me wrong – I am not saying that health care should be free; only that it should be available and AFFORDABLE to those who need it.
Sorry about the rant, now back to housing.
-Mammoth
Can you tell us the total losses you've sustained by shorting the homebuilders & sub prime lenders? Seems like a lot - every time you tell us your short or buy puts the stocks go up!!
Also - I live in Phoenix and just made $20,000 on my house in 6 months.
Is this blog part of reality???>?
When do you fools admit defeat?
oh i am feeling sooooooooooooooooo defeated already........
"OC prices are up. LA prices are up. Seattle prices are up. Portalnd prices are up.
DOW is setting record highs every day."
Keith, you take the day off and open the door for the true morons. Did the above author notice tax receipts in the state of CA fell 7.4% short last month? That alone tells you activity is way down. Just wait for what the April (yes, there's a delay in reporting) receipts are. The shortfall in the CA treasury will be nationwide frontpage news by July 1st.
Mammoth said...
On this morning’s bus ride to work,
Rent. Take bus to work. You people couldn't be more pathetic if you tried. No wait you also clip coupons and go to the library to read newspapers for free. I stand corrected, you can be more pathetic.
Great. $600,000 for a sh*tbox in Compton. Have fun with that, realtwhore. Far more people leave CA than go there, within the USA. The only reason CA is still increasing in population is (illegal) immigration. More crime, more graffiti, less English.
I notice you didn't refute the issue at hand but made a racist comment that has nothing to do with anything. How about addressing the fact that OC price are up 0.8% YOY? You won't of course because it proves how full of shit the housing bears are. So instead you throw out some garbage about less English and more crime. Nice debtaing tactic.
And I'm no realtor. Get it through your thick rental skulls that not everyone who disagrees with you is. Can you understand that Mr. Bunker?
Has anybody else been following the latest with Casey Serin's site (iamfacingforeclosure.com)? Does anybody still care?
He had a post up about taking a vacation to Lake Tahoe to brainstorm new ideas (translation: try to escape from his own personal hell) which had 300 comments last time I checked.
Then his site was down for quite some time.
Now site is back up, with the whole post about going to Tahoe deleted. He has also removed the comments, to this and to his latest post, in which he discusses writing a book ('Rich dad, poor Casey'?).
Methinks his 15 minutes of fame has gone on for a couple hundred minutes too long now . . .
another day another DOW record.
Boy I'm sure glad I didn't do something stupid like put all my money in a savings account earning 5%, that would make me the world's biggest idiot.
"I notice you didn't refute the issue at hand but made a racist comment that has nothing to do with anything."
Not wanting my child to be the only kid in a class of 30 that speaks English is now racist? Give me a break. "The OC" is Spanish-speaking, even the "nice" parts. 75% of all students in OC are Spanish speakers. And that number is growing every year. Our children who don't speak Spanish are getting held back by those that don't speak English. Can you use your brain? That's a recipe for disaster. And all you can do is pull the "racist" card. Pathetic.
"How about addressing the fact that OC price are up 0.8% YOY?"
0.8%!!! You're serious, right? After all the calls about how we'll see 15% appreciation until the end of the world, now you're bragging about 0.8%???
That won't even cover escrow fees to sell among the multitudes who bought on nothing down and negative amorization, which accounts for about 90% of those in OC. When only 10% of a population can afford an average priced place in an area, you have another recipe for disaster.
"You won't of course because it proves how full of shit the housing bears are. So instead you throw out some garbage about less English and more crime. Nice debtaing tactic."
If you don't think those things are VERY IMPORTANT to a person with children, then you obviously don't have any. I don't want my children being the only in a class of 30 that speak English, that ride to school alongside a bus filled with graffiti, that has crime through the roof as it is in OC. Don't give me your crap, I lived in OC for years. Even "nice" areas like Lake Forest have graffiti patrol painting over graffiti every day, and San Clemente has "million dollar homes" filled with multiple illegal immigrant families, turning the schools to garbage.
"And I'm no realtor. Get it through your thick rental skulls that not everyone who disagrees with you is. Can you understand that Mr. Bunker?"
I don't understand you, and that's only because you clearly don't understand reality.
This is all I here on ABCNBCCBSCNNFNC.
"In other news,
Barack Obama has cured cancer.
In other news,
Barack Obama is a brilliant poet.
In other news,
Barack Obama is the only one good enuff to spawn Oprahs baby.
In other news,
Barack Obama is the perfect example of perfection."
THIS GUY IS A MANCHURIAN CANDIDATE IF I'VE EVER SEEN ONE. HE HAS NO BIZ EVEN RUNNING.
HE'S SHOULDN'T BE PRESIDENT OF AN HOA LET ALONE THE USA.
Here's a URL for the guy that thinks OC is going to go up eternally:
http://tinyurl.com/39of9w
That's a one bedroom in crappy, crime-filled, gang infested Westminster, for $500,000. The same place was $50,000 just eleven years ago.
Of course, dummy in OC there should realize there's a big difference between asking price and the actual price they'll sell at. Either way, who would pay more than $100,000 for such a dump? I know nobody that would live there for free.
"Anonymous said...
I notice you didn't refute the issue at hand but made a racist comment that has nothing to do with anything. "
YOU LIBTARDS THINK FACTUAL STATEMENTS ABOUT MINORITIES COMING FROM A WHITE MALE IS RACIST.
LIBERALISM IS A MENTAL DISORDER... A SELF DESTRUCTIVE PSYCHOSIS THAT IS EXACERBATED BY POT, PROZAC AND STENCH INFESTED CITIES.
To say that the only people moving to Mexifornia(formerly California) are illegal aliens, is basically a fact. There is nothing racist about that. Just calling it like it is.
Mexico is a 3rd world country.... a few elites and millions of peasants...corruption and poverty are everywhere. THIS IS FACT.
I don't want my country, the USA, to become like Mexico... but with 1/6 of all Mexicans invading the USA, we are on the way to serfdom.
We don't need more serfs, peasants or zombies in the USA... we have enuff of them.
Some Mexicans come here to work, about 2% of illegals work in agriculture.
Many Mexicans come here to WORK the SYSTEM. 1/3 of prison inmates are illegal aliens.
Los Angeles has been transformed in 30years into a sesspool of welfare, gangs, and basic turdworldified hoods. THIS IS A FACT.... A FACT is something that libtards call racist when it does not fit their agenda.
It is now Mexican territory as far as I'm concerned, they they can have it.
The sad part about the 2007 LIBERAL, is that they are not LIBERAL....that is they are not enlightened or open minded in the classical sense of Grecco Roman philosophy.
The 2007 Liberal, is a FACIST. They want total goverment control over every facet of life from cradle to grave. They want the Constitution burned, except the civil rights part, and want free speech for everyone except white males.
You morons should go live in one of your 'places' you care so much about... .like Tibet, or Sudan, or Iran, or Guatamala.
You see, I don't give a rats ass about those dumps, and If I were in charge, not one effin cent of US TAX Payer money would go outside the states.
And F Bono too.
Rent. Take bus to work. You people couldn't be more pathetic if you tried. No wait you also clip coupons and go to the library to read newspapers for free. I stand corrected, you can be more pathetic.
That's right anon, make fun of environmentally concerned people and people who save money. Typical.
You people are amazing. You pontificate here about 50% price drops in OC. It goes up 0.8% and your retort is it should have been 15% and therefore a 0.8 increase is really bad.
Nobody in their right mind thinks 2007 will be 15% price increases. What anyone with any sense of reality has been saying for the past year or two has been flat prices, maybe a slight decrease. And gee suprise surpise 0.8% is in line with those predictions.
anon 5:45:
You are so full of it. If these immigrants were Swedes you wouldn't care. But oh no they are brown people who dare work hard and dare buy a home in your neighborhood. Oh no the horror of it all, lock your doors they all wnat to rape your women and kill your children. Give me a break.
I'm all about saving the environment but no way I'm taking the bus.
Here's the deal. 2.5 times yearly income is what a house is worth. To move up to a better neighborhood you put more money down to make up the difference, PERIOD. $500k home in a neighborhood that averages $47k yearly is the fault of appraisers and flippers. Not real flippers, but school teachers married to civil servants. The ones with the liberal arts degree and the 401k. They play slave to a job because of benefits, but think they have bright new ideas like flipping and lying. we will go back to;
20% down for first time buyers, or drop dead you flake.
10% down for previous owners or drop dead you flake.
2.5 times annual income for a mortgage, or put more down payment.
you qualify at the fully adjusted rate or find a cheaper house, you flake.
The same standards as set in 1989. Values will drop accordingly. Rental will again become the 'highest and best use' as called for in EVERY appraisal. If it's cheaper to purchase than rent, that's the only time buying is a viable alternative to rent. Yes, many people walk away with substantial sums of money from selling a home in normal market. It was a forced savings account. Those that are weak willed also like to pay to much in taxes every year so they will get a tax return. Forced savings account. I used to do it. Someone I know in the mortgage busines says;' feel felt found', I know how you FEEL, I FELT the same way, then I FOUND out....'. It's not liberal, it's not Mexican, it's 2.5 times income or get the hell out.
Anon 4:06 wrote:
“Rent. Take bus to work. You people couldn't be more pathetic if you tried.”
Do the math:
Take bus to work =
Less wear & tear on the car
+ less depreciation in car’s value
+ not having to deal with Seattle traffic
+ lower stress level
+ good for the environment
+ leaves the world in better condition for the next generation
What’s pathetic about that?
Oh yeah, it’s not “cool” to ride the bus.
Man, you are shallow.
I see it is Jose the janitor's fault again for your pathetic lives. For a while it was China's fault. Then Bush's fault. Then Bernake. Then Greenspan. Every week it's a new reason you idiots rent a shithole apartment in the ghetto while everyone else is getting rich off real estate.
I'd like to start a pool on this. Every Friday everyone throws in $5 and bets on what the upcoming week scapegoat will be. Here I'll start it off....I say next week the reason will be Dick Cheney.
Dow at record high compared to the record highs of year 2000 buys 50% less food, 60% less gold and minerals, 80% less gasoline and 90% less housing,60% less insurance and 80% less health care. Yep, no depression here, nor no inflation............................
gotta spend that 100 dollars in gasoline this weekend to look at luxury housing?????
THIS GUY [Barack Obama] IS A MANCHURIAN CANDIDATE IF I'VE EVER SEEN ONE. HE HAS NO BIZ EVEN RUNNING.
______
No worries, he's unelectable.
His middle name is "Hussein". His wife comes off on TV as a cold bitch with a huge chip on her shoulder.
Asked on her national TV debut whether she feared Barack Obama might became an assassin's target, she replied: "I don't lose sleep over it, because the realities are that as a black man, you know, Barack can get shot going to the gas station."
By whom? Most likely another black guy.
No way will this guy ever be president.
Rent. Take bus to work. You people couldn't be more pathetic if you tried. No wait you also clip coupons and go to the library to read newspapers for free. I stand corrected, you can be more pathetic.
_____
I don't personally do any of the above, but my mom did, God rest her precious soul. Except they didn't rent, they owned a 5-acre estate.
She and my dad had survived the depression. They knew how to be extremely frugal by today's standards. The spent little, saved, and worked very hard. They knew how to have fun on a nickel.
My dad survives and owns his 5-acre property, which is now worth many times more than what it was worth when he bought it for in 1964. His mortgage payment was $200/month. It was all paid for by 1994.
Taking the bus to work, clipping coupons, going to the library to read newspapers for free -- all of these things are intelligent things to do.
As the greatest bubble in all of history unwinds, and many smarty pants who think they're rich today are brought to their knees, many more people will be doing these things again -- BY NECESSITY.
The younger boomers will come to the stunning realization that they HAVE to be frugal to ever have any chance of retiring.
Or, you can be led like sheep to slaughter, thinking the government can and will keep the current bubble inflated, or create new ones, to make your silly dream of undeserved, unearned wealth into reality.
... Take bus to work. You people couldn't be more pathetic if you tried...
That's what civilized people do, they look beyond their personal "wants" and look at the society as a whole and their part in it.
That's how more than half of the world gets to work, by public transportation. It reduces CONGESTION, POLLUTION, and WASTE.
That's how you can do your part to reduce this country's dependence on foreign resources, and as added benefit WE won't have to send our soldiers to get more of it.
I actually enjoy my bus ride to and from work. It takes about 30 minutes and I get to listen to NPR or read. Passing all those single-driver overpriced-GM-crap-boxes I cannot help but feel sorry for those sheeple who angrily clutch their steering wheels while being stuck behind someone's tailpipe, breathe in toxic fumes and listen to some idiot on the radio talking about another one of (insert your favorite Hollywood personality)'s blunder.
So, go ahead, fire up that over sized, poor quality, wasteful SUV or yours for the ride to work. And while you are at it, put one of those "support our troops" sticker on the back, to really show your appreciation to the families of thousands of people who died so that you can enjoy your wasteful, obnoxiously, "ME" life style...
"Rent. Take bus to work. You people couldn't be more pathetic if you tried. No wait you also clip coupons and go to the library to read newspapers for free. I stand corrected, you can be more pathetic."
Folks, I see dunces like that spout crap like that and it just makes you yearn for a speedy collapse of this debt bubble
Note to that jackass - when the downturn hits, and you're maxed out on your credit cards, have a massive mortgage payment, and your leased car is over $1000 a month, I hope you'll see the folly of your way
Meanwhile, HP'ers are putting aside a big percentage of their income into savings, watching their expenses, living without debt if they can, and we'll think twice about coming to the aid of jackasses like yourself when times are tough.
And trust us, times will be tough. But you're either too young or too dumb to understand business cycles
It's not too late to change your ways. But for you, yes, actually, it probably is.
Man, you can't save some people from themselves. No matter how hard we try
I am a patent attorney in DC. I pay $1.00 to take the bus to the Metro, for which I pay another $2.50 to take the office. Along the way, I listen to music, check out any hot women on the Metro and read a few newspapers, which are free.
This is WAY better than spending an hour in aggravating traffic, having to pay another $500.00 a month for an additional car and insurance, another $200.00 a month in gas and another $200.00 in parking just so a car can sit in a parking garage all day.
Keith says…"Note to that jackass - when the downturn hits, and you're maxed out on your credit cards, have a massive mortgage payment, and your leased car is over $1000 a month, I hope you'll see the folly of your way"
I pay off my credit cards every month; I have not had a balance for over 15 years. I paid off my mortgage; I live in a 3000sq ft house on 3/4 acre in a gated community in Glendale AZ.
I drive a 2007 Tahoe, my wife drives the 2006 Lexus, both… paid in full.
I don't see the folly.
Captain Panic says…“Meanwhile, HP'ers are putting aside a big percentage of their income into savings, watching their expenses, living without debt if they can, and we'll think twice about coming to the aid of jackasses like yourself when times are tough”.
While all you renters play the austerity card, I also am debt free, but own property, vehicles and have a healthy 401K and multiple IRA's and CBA's.
When times get tough, landlords will be raising your rent or imminent domain may just move you out on a whim. You will be putting up with your apartment neighbors and all the noise upstairs and throwing away your rent every month.
Good Luck wit dat.
Anonymous said...
OC prices are up. LA prices are up. Seattle prices are up. Portalnd prices are up.
DOW is setting record highs every day.
Unemployment claims are at 300,000 weekly (same number as 10 years ago with a 15% more people in the US).
When do you fools admit defeat?
Oh that's easy! It's when I call the moving van, move to another city, and force the rental house I am occupying be added to the market as another vacant listing.
Or by admit defeat did you mean paying 50% of my take home of PITI? No, sorry, I won't destroy my life by being another sheeple.
So we have a jackass (who knows though - gutless anon) who calls people pathetic who are frugal, ride public transport, clip coupons and live within their means
What do you think HP'ers - regardless of your social and economic standing, is it EVER pathetic to ride public transportation and be frugal with your money?
Man, some people, I swear, just have "jackass" written across their foreheads
I'm going to watch some of you stock market bulls piss in your pants soon.This is a total suckers rally if I've ever seen one.Notice all the smucks comeing out of the woodwork proclaiming all is well out there and dow 14000 right around the corner.A bunch of con men as usual trying to get you great investors in the game.You buy low and sell high.You should be selling into this rally just like the pros are doing.If all is so great why didn't you buy a few months ago? Now that the market is in rally mode everyone is telling you to buy before it's too late.Haven't we heard this bullsh@t before?If you buy now you are purely speculating and not investing.Those who speculate will have to masturbate to the chicks on CNBC when there girlfriends leave them for being a dumbass, loser, smuck who follows the herd.
The jackass is jacking off posting these taunting bullshit rants. If he was so rich and set up, he'd be banging his supermodel wife in the back of his Rolls Royce.
Only two kinds of people read this: people who are concerned about housing and want to chat with others who see the mirage for what it is, and pissed off people who have lost a bundle and blame HP. So, the jackass troll anon poster is one of these.
He is anon so in a year when we're all chuckling about his posts he won't have to take ownership of the delusional sputum he pukes up here.
I predict this poster's attitude will start to gain momentum as things go downhill:
"But meanwhile the govt. workers, illegals and the top 5% don’t have to worry about medical bills. "
First of all it's not "free", most of us pay about $3,500 a year plus co-pays. Yes I have great insurance, but I have the insurance that everyone should have. My father warned me not to go for the big money and to look for a job with a union and good benefits. That conservative advice isn't looking so stupid now 20 years later when, BTW, I still make under 50K.
In short, be careful who you direct your anger toward. The safety net that arose after the great depression wasn't dismantled by other middle class people, but I fear this is where the anger will be directed. We don't have it, why should you!!! What makes you people more deserving?!?!
We aren't, obviously, but let this misdirected blame catch fire and it'll do exactly what it's intended to do: divide and conquer the electorate so they never demand people in power deliver policies that are in THE MAJORITY'S best interests.
And by the way, I feel as though, similar to housing, I played the game responsibly (including taking care of myself) and I'm paying for the medical care of people who "can't afford" health insurance or pursue smoking and obesity with abandon.
"Keith, you take the day off and open the door for the true morons. Did the above author notice tax receipts in the state of CA fell 7.4% short last month? That alone tells you activity is way down. Just wait for what the April (yes, there's a delay in reporting) receipts are. The shortfall in the CA treasury will be nationwide frontpage news by July 1st."
the tax receipt shortfall was due to weather you idiot.
"And I'm no realtor. Get it through your thick rental skulls that not everyone who disagrees with you is."
You must be leveraged up to the wazoo to be here on this blog trying to paint a rosy picture that doesn't exist and nobody with a brain believes in. Wrong blog dreamer-hamster-wannabe. I bet your mortgage has been killing you, your Net Worth is negative, and you've got a bunch of overextended credit cards. Trying to keep up with the Joneses is a bitch isn't it? Are you able to fool your families members at least that your doing "so well" financially? Here on this blog nobody believes you are, so give it up and go try to impress your neighbor with your upside down car lease. I feel sorry for people like you...bleeding like crazy but never loses the pose.
Glendale Arizona
HAHAHAHAHAHA
And admitting it
HAHAHAHAHAHAHA
JACK-ASS
Hey Keith, you should create a digital rubber stamp, just like Conan O'Brien has on his program, to stamp these hamster remarks with a huge "ASS" stamp right below it.
Hoooweee...that Republican debate really made a difference. I've never seen so many losers together since the last NAR xmas party. What a bunch of cliche's, followed by a gazillion mentions of Ronald Reagan (another lie), and tons of "the bogeyman terrorist is gonna get you". This country is a huge miracle!
Ron Paul was the only one good in the crowd, that's why they never gave him any chance to talk.
"While all you renters play the austerity card, I also am debt free, but own property, vehicles and have a healthy 401K and multiple IRA's and CBA's."
Sure, you are a millionaire but you always live on this blog advertising "how rich you are". Sure my baby boomer hamster from Arizona, you are then man! Some trolls really don't have a clue that they are making an arse of themselves and not convincing anybody with their lies. Aren't you ashamed of lying so much at that age? You must be a Bushie. Remind me of NEVER passing through Arizona.
anon is a troll. I can't think of anything more pathetic than trying to impress people you don't know, and who don't believe you, and wouldn't care if they did, and do it under Anonymous too. Pitiful, just pitiful.
anyone who lives in glendale shouldn't talk down to anyone!!! glendale is a shithole along with the entire leftside of Phoenix. What a Phony calling otherpeople out when he lives in Glendale!
I live in a 3000sq ft house on 3/4 acre in a gated community in Glendale AZ.
Thank you.
Now I understand:
1. Your hostility
2. Your mental capacity.
Have fun at ground zero of the crash.
Foreclosures increased nearly 80% in California. That is the good news. How could foreclosures increase while prices are going up? Wouldn't those people have sold for a profit or refied instead of losing their homes? We all know from that statistic that prices are either flat or going down because there are fewer morons out there willing to overpay for housing.
It's a race to the bottom between the lenders, homebuilders and FB's.
anon 914? That is precisely what we need. Depleting aquifers and ruining our topsoil to support our car world. Buses and rail could be a much saner, interesting, and hopeful life.
Anonymous said...
"Also - I live in Phoenix and just made $20,000 on my house in 6 months.
Is this blog part of reality???>? "
So, you bought and sold in 6 months?
So you ride th ebus, clip coupons, live in a shithole basement apartment all to save money. And then what? According to your philosophy spending money is silly. So OK you will save up the poverbial ass but never spend any of the savings. You'll be one of those old eccentric millionaires that dies in a 1 bedroom apartment filled with 10,000 newspapers. Gee what a life!!
Me, I'd rather enjoy life. I'm not going to go and buy a $85K car but I'm not going to ride the bus with lowlives either.
Anonymous said...
I am a patent attorney in DC. I pay $1.00 to take the bus to the Metro, for which I pay another $2.50 to take the office. Along the way, I listen to music, check out any hot women on the Metro and read a few newspapers, which are free.
This is WAY better than spending an hour in aggravating traffic, having to pay another $500.00 a month for an additional car and insurance, another $200.00 a month in gas and another $200.00 in parking just so a car can sit in a parking garage all day.
May 04, 2007 9:34 PM
Anonymous said...
“When times get tough, landlords will be raising your rent or imminent domain may just move you out on a whim.”
You’re kidding right? When times are tough, the landlords will take what they can get.
I don't ride the bus but I do take the light rail. It is much faster to get to work then driving my car. The light rail does not stop for traffic or red lights. The only time it does stop is to let on or let of passengers. Plus I save a bunch of money $125 a month for parking and $120 a month for gas at $3 a gallon (you know it is going to $4 a gallon right). I get to ride the light rail for free with my State Employee ID (I do love by benefits package thanks to all the tax payers out there). The light rail glides silently alongside a park with the most pleasant slight rocking motion. I get to leave work an hour early each day because I work on my laptop during my commute back to my 12th floor luxury apartment that I rent for about $8 a square foot compare that to the $20 or $40 a square foot people are dreaming they are going to get for the house they are trying to flip. I do not clip coupons but I do use the card the supermarket gives you so they can track what you buy. I do not read the newspaper just to 19th century for me ( I do not send smoke signals either); there are better ways to get news and no tress must die. I wonder if this coward anon will grow a set and show their face by registering and stop posting anon. I know you will not have this false bravado in 18 months. Or better yet post some pics of your fabulous cars, house,401k. It is real easy to be a millionaire on the internet.
Man, some people, I swear, just have "jackass" written across their foreheads
So Jackass, WTF are you even wasting your time blogging for? You got it made man! Do you think you need to help us see the error of our ways? Move on, nothing more to see here, have a great weekend in beautiful AZ. Land of nothing and soon to be less. Inventory just hit 60,000 and climbing fast.
oh, yeah, 6:10. it's the liberals that are dismantling the constitution, civil rights, 200 years of governance tradition and trying to establish a unitary executive.
yeah, the left are fascists. too bad we know from the last six years that everything out of the right's mouth is exactly the opposite of reality--a bizarro, orwellian bullying that makes the brown shirts look like crude pikers.
facts do have a liberal bias. funny that you and your ilk deride the faith-based countries that are so much like the country you want america to be.
you're toast. go hang out at red state or one of the other rant sites where the thirty-percenter paranoid losers go.
Astonishing that anyone would brag abot sky high prices in LA or OC. LA is the world's largest toilet, and OC is the world's second largest toilet.
The argument that "everyone wants to live here" is a joke. Nobody wants to live in LA or OC. That's why more people leave LA and OC than go there. And to say people can't afford it is nonsense. It's easier to "qualify" for a mortgage in OC than a rental agreement.
Anyone that has breath and can hold a pen is given $500,000 loans. The reason those houses are "bought" by illegals is because they're used to living in squalor, which is what LA and OC are made up of. The people that raise children run from LA and OC faster than an illegal from ICE.
Tell me why I shouldn't get this with a zero down loan.
http://chicago.craigslist.org/chc/rfs/324665914.html
Gut the place of all wire, appliances, etc. Could walk away with 350k in cash and never make a payment.
How is this not illegal?(The listing, not my stupid idea)
Mammoth said...
"Rent. Take bus to work. You people couldn't be more pathetic if you tried. No wait you also clip coupons and go to the library to read newspapers for free. I stand corrected, you can be more pathetic."
FRUGAL is the word you're looking for.
BTY you forgot the part about NO DEBT and multiple thousands of dollars making money for us not languishing in a structure that is NOT an investment vehicle, it is a place to live.
I'll be damn!!!
It feels like the teacher left the class the way you all are ranting and raving. I could have sworn I say a paper airplane fly by my monitor this morning.
Keith takes the day off, give us the blog to handle for the day and you morons can't find anything better to discuss than argue about racial, political, and social issues. We get that you know your Right from your Left you don't have to prove a thing.
WHAT ABOUT HOUSING?
Lets get back to housing and the fact that it is crashing. Indeed it is! In the Midwest, the bible belt, down south, and of course in the "OC" as well. You guys aren't any "different" this time around either. I can tell because your lawn is turning brown!
Let's act like adults for a change get out your opinions, and respect others as well.
I would call you all out by name but most of the trouble makers
are all ANONS. Well maybe except for MORT, but I do respect that he uses a name.
Nuff respect "MORT"
Ok Keith... you can have the Blog back now. I just had to get some order in the classroom.
Lunch time everyone!
RayNLA
I live in a 3000sq ft house on 3/4 acre in a gated community in Glendale AZ.
Loser!
Fleckenstein on getting liquid during this bull
Meanwhile, despite what history tells us about the ultimate outcome of market euphoria, the bulls are having no part of it, as they enjoy the current incredible rip to the upside. Against that backdrop, I cannot shake this nagging feeling that the most important idea for folks to consider before the coming dislocation hits, whenever it hits, is that it will be necessary to have some liquidity, even if that liquidity is held in a crummy currency like the dollar. I am more convinced than ever that the amount of leverage being held at the institutional, hedge-fund, individual and corporate levels is, while not directly ascertainable, extremely high. In fact, I think the overall financial risks are far higher than I ever imagined they could be.
Consequently, I no longer believe it's possible to determine in advance just what asset classes might be safe in a financial dislocation, as so many of them have become so intertwined, while at the same time we can't know how leveraged any of the underlying positions may be. Thus, when liquidation occurs one of these days, absurd developments may unfold that you might like to take advantage of. But one must have some flexibility -- liquidity -- to do that.
So, as I did by recently in selling my Newmont Mining (NEM, news, msgs) position, I intend to find ways to increase my own liquidity (even though I intend to increase my short positions one of these days), while still trying to protect myself against the fact that the dollar is sure to decline in value. I encourage others to give this subject some careful consideration.
http://articles.moneycentral.msn.com/Investing/ContrarianChronicles/TheDowsDangerousWinningStreak.aspx
First of all it's not "free", most of us pay about $3,500 a year plus co-pays. Yes I have great insurance,
$3500 WTF? You need to shop around or switch employers, that's crazy. I pay $170 a month pre-tax for my insurance that covers me, the wife and if I had any up to 2 kids with each additional dependent an extra $50 after that.
OC prices are up. LA prices are up. Seattle prices are up. Portalnd prices are up.
DOW is setting record highs every day.
Unemployment claims are at 300,000 weekly (same number as 10 years ago with a 15% more people in the US).
When do you fools admit defeat?
Ha ha ha ha.
Post like these are so funny.
No sense of anything but the moment, not to mention anything like the lessons of history.
But, THANK GOD people like these exist. Because, without them, where would all the easy pickings come from for the truely rich??
Like shooting fish in barrel...
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