June 18, 2007

HousingPANIC Stupid Question of the Day

What happens when all the cash-back mortgage fraud, easy credit, REIC-commission, flipper-fed, housing-atm moolah dries up?


Home Depots and Lowes shuttered?

Overflow lots of used Lexuses?

Ramen noodle inflation?

Hair, tanning and nail salon layoffs?

Get out the crystal ball and let us know what you see in this post-housing-bubble world

28 comments:

Just my Guess said...

DWR becoming a "penny" stock.

Other high end furniture stores shuttering.

Stores that catered to peoples pets on a high end level...I expect that "poopsie" will have to get used to plain old alpo as the FB's have to tighten their belt and quit spending more on their dogs than most Americans spend on their children.

Whole Foods...same reason as above.

BMW...no more heloc money for the low end models that people bought with Heloc money so that they could say they drive a "Beemer".

$300 jeans companies will fold.

Rolex will lose sales as those are the wanna-be luxury watches. Can't say the same for PP, VC and Audemars as they cater to the truly rich.

Boat companies will tank (AMF as they seem to own many of them)

Eating out will become a treat instead of the norm as people start to cook at home for 1/4 the price. Small trendy restaurants will feel the pinch first. The chains next.

People will start brewing their own coffee instead instead of continuing their $100-$300/month latte habits.

I could go on and on and on....pretty much everything where there is a much lower priced acceptable alternative.

Anonymous said...

More trolls on Housingpanic

Anonymous said...

>> with Heloc money so that they could say they drive a "Beemer".

God damnit - it's Bimmer, not Beemer!

Keyser Soze said...

Who knows, maybe we will start:
1) caring for the people around us.
2) eating home cooked meals.
3) driving sensibly.
4) saving for a rainy day.
5) playing cards & sharing laughs.
6) planting gardens.
7) reading books.
8) taking walks.
9) following the local sports teams.

Anonymous said...

Everybody gets in on grow houses!!!!

Hey, it's though the fall of Rome coincided with lead pipes used for water transporting. The lead made people stupid.

Now we're going to have marijuana everywhere. History repeats.

ymca said...

No, the luxury stuff will continue to sell well. Rich people don't care about the housing crash, and many will do quite well as they buy distressed properties at 70% discounts. Conversely, the poor won't suffer much either because they don't own anything and Uncle Sugar will take care of their basic needs.

The people who will suffer are the middle class because millions of H2B workers and illegals will work for any wage offered. They will lose their jobs, homes, and abandon all the consumer crap they accumulated over the past decade.

Politicians of all stripes had better invest in flak jackets if they know what's good for them.

Anonymous said...

PKK (grandma) here:

First signs: chain restaurants slow,
because for many, up to upper middle
class, eating in those restaurants is
a treat. For the truly comfortable,it
will be spending as usual for some
time, then no new purchases..

Then:
There are going to be some major
collapses that will affect all, around the world, pensions, hedge
funds, GM will fail,
..When you see GM close it's
doors, "it's on"....we will be in
such distress; everyone...It's a
time marker as I call it. I've been
dreaming of feeding people out of
an extra large soup pot since I was
3 (1947). Found the pot at a garage
sale 3 Saturdays ago...Not a good
sign. But I can cook up something
out of thin air most of the time.


I dream things, as as one who does,
I've read just about every available so called prophecy I can
find, to get corroboration. I suggest reading Isaiah for starters:

It refers to those who build houses
but don't live in them, those who fill in spaces in cities with houses, those who live in houses but don't own them, those who build
houses but don't live in them:
houses with grass so high, no one
knows who owns them....In the end
people will live in houses they build and own, and no one will own
houses they don't live in...I am of
course paraphrasing, but I found enough to convince me it was referring to the housing situation
and if it were large enough to
make into a 2-3 millenial prophecy,
it must be really big before it's
finished....

We will go from how to save our
financial life, to trying to stay
alive in a few short dislocations.

Think deep. If you had no money.
You heard me, NO MONEY. When it
becomes clear that money isn't
going to be there, or solve anything if you came across it,
what would you need for the next
3 years: Coats for your children
to grown into? Sturdy shoes in
a few sizes?

Anonymous said...

keyser soze,

Are you out of you mind?

As American's, it is our right,ney or duty to only think of ourselves.

Playing cards, gardening, taking a walk!!!!!

Good God man! Don't you realize that there will be plenty of time to sit around and watch t.v. when Paris(ite) Hilton gets out of jail!

Saving?

Driving sensibly?

Home cooked meals???

You just don't understand how the 'real' Amerika werks!

So get off at the next stop, before people start to think of others, besides themselves!
We can't have that in a self-indulgent society!

If things happened the way you wanted them, who knows what would happen next........maybe God would be allowed back in government, in schools, prayer would run rampant, the poor would be cared for, jails would be empty.....yada, yada!

You just don't understand the ways of greed and politics (redundant, i kno)!

Anonymous said...

I have noticed a lot of "toys" for sale around my town, it seems like every corner has either a giant 5th wheel or RV, a mustang/corvette/rice rocket, boats, rock crawlers, etc for sale.

Stuck in So Pa said...

"Just my Guess said...

.....Other high end furniture stores shuttering.

Stores that catered to people’s pets on a high end level....

Eating out will become a treat instead of the norm ....."

That kinda hit home. Saw two chain pet stores close in two different malls in the last 3 mos; also two high-end furniture stores that I know of have also closed.

The wife and I don't eat out much anymore, but the last time (three weeks ago) we went to our favorite restaurant on a Friday night, it was half empty, used to be a line outside anytime after 4-4:30.

Discretionary spending is grinding down, slowly but surely!

Anonymous said...

Rich folk still see R/E as a good investment. That's why they are rich and renters are well...renters. So go on paying someone else's mortgage.

NEW YORK (CNNMoney.com) -- The very rich are different from you and me: they don't seem to be too worried about the current housing slump. At least that's what a new study released Monday found.

More than half of affluent homeowners expect their property value to appreciate at least somewhat during the next year, according to the Coldwell Banker Previews International Luxury Survey. A tenth of them expect significant gains.

The study polled 301 homeowners with million-dollar homes (two million dollars in California) and more than a million dollars in investable assets.

Anonymous said...

ymca spoken like a true socialist aka Democrat voter

GREDDY PEOPLE SUCK said...

Many a FB will come home to see my schlong in his wife's mouth. And she will say because you are not man enough to support me.
HAHAHAHAHHAHAHAHAHAHAHAH

WHO'S LAUGHING NOW !!!!!!!!!!!

Anonymous said...

Keyser Soze said...
Who knows, maybe we will start:
1) caring for the people around us.
2) eating home cooked meals.
3) driving sensibly.
4) saving for a rainy day.
5) playing cards & sharing laughs.
6) planting gardens.
7) reading books.
8) taking walks.
9) following the local sports teams.

June 18, 2007 1:41 PM



Aside from #6, what in the world does any of that have to do with housing? I mean come on follwing the local sports teams? Are you saying that renting causes a higher allegiance to a sports team? Damn dude you need to put down the pipe.

Anonymous said...

>> with Heloc money so that they could say they drive a "Beemer".

God damnit - it's Bimmer, not Beemer!

ummmm. Did you notice that I put in quotes?

You are right. It is Bimmer. But to the FB's that took out a HELOC to purchase one it's a "BEEMER".

They are the same ones that pronounce Porsche "Porsh" instead of Porsha.

sheesh.

Anonymous said...

What will happen? I'll make alot more money buying up housing and renting t to all the former Heloc loving nuts. I already cashed out of my investment properties a year or so ago, and am primed to reinvest for the next bubble. Crash, Crash, Crash... and I'll cash in! I want more pops to this bubble so I can get increase my personal net worth. Smart people make smart money at the right times of the cycle - buy low... sell high!

Pat's Steaks said...

'Small trendy restaurants will feel the pinch first. The chains next.'

Not sure about the trendy places...

But the semi causal steak houses (outback, Ruby Tues, etc) are already feeling the pinch. And the pinch is thought to be high gas prices, so if they are feeling the 'pinch' from high gas, wait to this s**t hits the fan!

Anonymous said...

They are the same ones that pronounce Porsche "Porsh" instead of Porsha.

sheesh.

June 18, 2007 6:30 PM


Oh please. Only pretentious wannabes add the "ah" at the end. Not unlike pretentious wannabes calling Paris "Paree".

Anonymous said...

Not much will happen. People will go about their lives as usual. In HP land gold will hit $10,000 and inflation will be 10000%. But that was supposed to have happened by now.

Anonymous said...

"GREDDY PEOPLE SUCK said... "

hehe

that's some sorry *$$ spellin'!

yuccatree3 said...

I've been dreaming of feeding people out of an extra large soup pot since I was 3 (1947). Found the pot at a garage sale 3 Saturdays ago...Not a good sign.
___________________

+++++Yikes! This is the scariest thing I've read today....

turdly said...

To;
June 18, 2007 12:57 PM,

Prove it.
Again, I tell you as before, maybe you can argue this with your mom who is probably really interested in your inability to stay on subject.
That's the definition of a sharp mind; wanting to debate colloquialisms instead of staying within a titled parameter.

Sharp, funny, talented; does your mom make you knock before you come out of the basement?

Anonymous said...

I was going to buy a house, but after reading this and other housing blogs, I paid cash for an Infiniti G35 instead !!

Mr Pink said...

Lay off Keyser Soze. If you read the post you would understand the Soze sees this as a financial cleansing and Americans need this in order to wake up. This cleansing will take generations, but with hope perhaps the children who grow up in this economic nightmare will raise children who DO THE RIGHT THING and dont walk around completely self entitled. I think Soze is right, something good might actually come out of this mess.

Anonymous said...

I feel everyone will be basically screwed except for the people who make the for sale signs for the Realtors

They are the new State tree of Colorado,California,Arizona, and Florida. Everyone is planting one in their yard lately.

Sequoia512

Stephen said...

"Rich folk still see R/E as a good investment. That's why they are rich and renters are well...renters. So go on paying someone else's mortgage."

----------------------------------

These people are wrong, Corky. How can R/E be a good investment when your rents don't even cover your mortgage, let alone your taxes, fees, maintinence, trouble . . . ?

Anonymous said...

'Small trendy restaurants will feel the pinch first. The chains next.'

Not sure about the trendy places...

But the semi causal steak houses (outback, Ruby Tues, etc) are already feeling the pinch. And the pinch is thought to be high gas prices, so if they are feeling the 'pinch' from high gas, wait to this s**t hits the fan!
-----

Two weeks ago we had dinner at Paradiso - a very trendy restaurant in San Leandro, CA. It was prime dinner time, and there were only four tables occupied and three people sitting at the bar on a FRIDAY NIGHT. This restaurant opened 10 years ago and has always had a full house and a wait list almost every night of the week.

Most of the homeowners now in this area are younger yuppie San Francisco implant couples with 1 1/2 kids, that bought into the Estudillo Estates area. The homes here are charming spanish, tutor, and traditional style homes built in the 1920's & 30's. I follow the market in this area, and I can honestly say that probably 3/4 of these houses have sold and resold in the last 10 years. I can't imagine how many loans will reset in the next two years and wipe out all these people. I checked the county assessors page and almost all of them have huge property taxes of $6,ooo and more a year. How can familiies afford it? This can't possibly be good when house values are dropping.

wiserenter said...

As for Home Depot and Lowes, here in Florida, there's always the hurricane season to scare sheeple into buying generators and plywood.