July 24, 2007

And today was the day when denial ended, and fear set in

Yes, many Americans are so dumb they could sit on an OJ Simpson jury, but for those of us who know that the TV comes with an off button, and who make an effort to follow and understand the news, today was the day HP'ers.

Today was the day.

And Fear is now here.

Thank you Countrywide for showing us the way.

Donna Summer, take us out...

91 comments:

Mark in San Diego said...

No doubt about it . . .even the analysts on the CFC conference call used words like "trainwreck" to describe housing - our work is about done here - I was thinking of working for some charity that helps recovering RE agents and mortgage brokers. . .

Anonymous said...

There are 4 million homes for sale right? Say 3 people per home on average = 12 million people who give a fuck about housing. 12 out of 300 or 4% of the population. Slow down there QWEEFIE you will hurt yourself.

Anonymous said...

Hmmmm.... DOW down big today...


WHERE THE F*CK IS THE TROLL?!?!?

Mark in San Diego said...

Sorry for more postings, but today is the Superbowl for me. . .having sold in early 2006. . .gloat gloat. . .Donna! much better than the Hindenberg crash video . . .

cobra2411 said...

We should know within a week or two if fear is really here...

Keith, you have to work on a list of "bubble" and housing quotes and arrange them in a time line.

It'll be something like...

We're rich!
Suz was right!
We're rich!
It's different this time!
Housing will slow a little...
We're still rich...
You have to expect prices to slow...
We're kinda rich...
As soon as the weather breaks...
We'll just hold, then we'll be rich...
Housing will come back in 07...
Housing will come back in 08...
Housing will come back in 09?!?
My ARM is due in 08!
We're poor..., but housing will come back...
Please come back...

How do you fill out these bankruptcy papers?

Ah F*%& IT! Just take the F'n thing

Anonymous said...

Dow still up 11% ytd. How's that money market account going?

cobra2411 said...

Hmmmm.... DOW down big today...

Don't worry, tomorrow people will be buying into the dip... Just like lemmings lining up on a cliff... :)

Mark in San Diego said...

That ANYONE - ANON "4 million homes for sale" could be so dumb - don't they get it??? When prices of homes collapse, the economy (stock market for starter) collapses, then unemployment goes up and impacts 99% of population - except for George Bush who will have moved out of the country by then. . .

Anonymous said...

Love the Donna Summer finale

Anonymous said...

mark in sd, oh so the stock market IS related to r/e? How many times has Keith said the two are unrelated? 50, 100? Make up your minds.

Anonymous said...

The double-whammy will occur when interest rates start rising. Our dollar is getting hammered. Bernake has tried to keep the housing ship afloat. But he can't sacrifice the entire economy to save the interest-only ya-hoos in California and Florida.

Once those rates start going up to more historical norms. (Around 6%), we will be looking at mortgages in the 7-9% range. Which is actually the historical norm.

So all those ARMs (especially those with teaser rates) will suddenly have their home payment double overnight. The lucky ones may be able to refi into a fixed 30 year (which won't save them that much) As for the rest? Ka-BOOM.

Anonymous said...

UAL posts record profits. Some recession.

DOPES

Anonymous said...

"UAL posts record profits. Some recession.

DOPES"

- Are trolls really this dumb?

Mark in San Diego said...

To Anon - Keith and I are NOT the same person - although real estate and the stock market do not move in tandem, a collapse of real estate (thus consumer spending)will tank the stock market. . .now we have Angelo Mozillo saying, "this is a big battleship, and it's moving in the wrong direction. . .no turnaround till 2009." THAT is what killed the market today.

sinis said...

Got into a debate with an RE tool. Here is what he says:

have owned 6 homes over the past ten years. I lived in my first one exactly 2 years. My purchase price was $134,000.00, and my interest rate was locked at 5.65%. However, refinanced it after one year to take money out. I refinanced $151,000.00, and pocketed a little over $12,000.00. My interest rate went up to 5.75% after buying a point and a half for about $2200.00. I took $2000.00 of the $12,000.00 and made over 300% on penny stocks in 6 months and cashed out. The other $10,000.00 was invested in various mutual funds, in which I have managed to earn over 12% a year. I purchased the mutual funds in 2001, and my account has nearly doubled. I sold the house for $184,000.00 in 2002 and wrote off the points I had purchased on my 2002 tax returns.

Lenders gave me 134k and 151k. I only put like $4200.00 down on the initial financing. The finance charges on the refinance were built into the loan, including the points I purchased, which were later claimed on ,y taxes

So, after paying a Realtor and any closing fees, and subtracting my initial $4200.00 investment, I made $18,800.00 on the property alone in 2 years. However, I also made $6000.00 play'n the pennies, and a little over $8000.00 on mutual funds. Oh, but wait, we need to add in the $10,000.00 I pulled out in the refinance, because I still have it. So, 18.8+18+6=$38,800.00. Oh, but wait, we need to add in the $2000.00 I used to start trading pennies, because when I cashed out, I still had it. So, 18.8+18+8=$44,8000.00

It looks like real estate "can" payoff, and in many ways. It also looks like lenders helped me do it. One lender made about $2000.00 in interest in the one year they were my lender, and probably made another $2000.00 in origination fees and other garbage fees. The other lender probably made about the same. Even if you count all of what they received from me as profit to them, combined they made $8000.00, so who benefited more? By the way, all of their $8000.00 was not profit. They pay their employees, and have other overhead as well.

borkafatty said...

The Dollaaa! is collapsing as fast as laura bush on 3 hits of Thorazine.

I would say it is all down hill from here...so when does that Martial Law thing kick in..I need a vacation.

Doktaire said...

UAL posts record profits. Some recession

Even Casey Sarin is still flying, probably a lot of desperate FBs trying to sure up their gradually crumbling no money down "RE empires"

borkafatty said...

"UAL posts record profits. Some recession.

DOPES"

- Are trolls really this dumb?

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

And Halliburton made record profits also...so what is your point...oh I get it the Rich got richer...thanks for the heads up...DINK!

Anonymous said...

Another cool housing bubble site....

http://housingtsunami.com/blog/

Anonymous said...

"Dow still up 11% ytd. How's that money market account going?"

Not as well as my Merk hard currency fund. Wonder how the Dow is doing adjusted for real inflation...;-)

bobbyg said...

How sad is our economy that comments from Angelo Mozilo can now move the markets. In a parralel universe, this guy is dumping dead goombas in the meadowlands.

The FED must lower rates now. The political pressure will simply be too great before the next election. PMs, foreing currencies, short term treasuries and oil will shoot to the moon as the dollar collapses.

Anonymous said...

when an airline posts record profits, anyone claiming we are in a recession is an idiot

Anonymous said...

"How sad is our economy that comments from Angelo Mozilo can now move the markets. In a parralel universe, this guy is dumping dead goombas in the meadowlands."


That is funny. He does look like a Goodfella, doesn't he? A well tanned Goodfella but ...

Anybody want to guess if Angelo has some gold chains he wears on his off time?

Anonymous said...

dow down 200 points, oh no end of the world is here. oh wait it's up 11% this year.

r/e is down 5%. oh no the end of the world. oh wait it's up 100% since 200.

DOPES

Anonymous said...

Some Kung Fu entertainment in light of the transition from denial to fear.


"Of all things, to live in darkness must be the worst." -young Caine

"Fear is the only darkness." -Master Po

"Never assume that because a man has no eyes, he cannot see." -Po

"'Close your eyes. What do you hear?' -Po

'I hear the water. I hear the birds.' -young Caine

'Do you hear your own heartbeat?'

'No.'

'Do you hear the grasshopper which at your feet?'

Caine opens his eyes and looks down at his feet to see a grasshopper there.
'Old Man, how is it that you hear these things?'

'Young Man, how is it that you do not?'"

Anonymous said...

Anonymous said...
Dow still up 11% ytd. How's that money market account going?

July 24, 2007 7:09 PM

Anonymous said...
UAL posts record profits. Some recession.

DOPES

July 24, 2007 7:27 PM
-----------
Comments like these make me realize that these trolls (realtwhores most likely) are no different from the minds of the bugs that end up splattered on the windshield of one's car on the highway.

Why?/How?

Basically the joke goes as follows:

What is the last thing on a bugs mind when it splatters on the windshield of your car?

ANS: Then windshield.

We will be reading about these trolls/realtwhores over the next few years and they will all say the same thing "We did not see it coming"

Start practicing now! "Would you like fries with your order Sir/Ma'am"

Anonymous said...

Anonymous said...
dow down 200 points, oh no end of the world is here. oh wait it's up 11% this year.

r/e is down 5%. oh no the end of the world. oh wait it's up 100% since 200.

DOPES

July 24, 2007 9:16 PM
-------------
Another bug on my windshield.

Anonymous said...

Anonymous said...
when an airline posts record profits, anyone claiming we are in a recession is an idiot

July 24, 2007 9:12 PM
---------
And another bug on my windshield, they are swarming a bit today are they not?

Anonymous said...

"UAL posts record profits. Some recession.

DOPES "

Too funny!!! I'm just waiting for the day when the only thing left that troll dude can say is "QID is up huge today. Some recession. DOPES"

Anonymous said...

While it is tempting to use the DOW as a barometer of the economy, the fact is the DOW is NOT the economy.

Just because UAL, a transportation stock is up, doesn't mean that Countrywide, a housing stock, can't be tanking the two are unrelated.

As we can see from today several things helped drag the DOW down, for the day, including poor earning from other sectors unrelated to housing.

In fact, the DOW should be appreciating much better then the housing market. Traditionally stocks return 10% over annually over the long run, easily beating inflation and thus building real wealth, where as housing only returns track inflation making it a very safe habor for money, but a poor investment choice for building wealth.

so buy some stocks, short some stocks, or invest however you feel ... just stop acting like stock performance and home price performance are related and/or equal.

Anonymous said...

Kieth - YOU ARE TOO FUNNY!

Anonymous said...

Housing Crash? Maybe in Miami and Phoenix. Rest of the country...not happening.

In Wenatchee, Wash., a 30,000-resident town east of the Cascade Mountains, homes appreciated an average of 25 percent from the first quarter of 2006 to the first quarter of 2007, according to a study by the Office of Federal Housing Enterprise Oversight.

The Raleigh-Durham-Chapel Hill economy is driven steady employment, population and income growth. The average closing price in Durham and Wake counties gained 2 percent in June. It rose 8 percent in Johnston County.

Between the first quarters of 2006 and 2007, homes appreciated 13.4 percent in Salem, WA, 14.5 percent in Boise, Idaho, and 16.8 percent in Grand Junction, Colo.

In Charlotte, the average price of a home sold through the MLS in June was $248,048. That's up 4 percent from the same month last year.

Anonymous said...

mental midgets:

UAL is an airline. Airlines do well when the economy is in good shape. People do not travel when they're hurting financially. Therefore when UAL has record profits it is an indicator of a strong economy.

I think even you 8th grade dropouts can figure that much out. Then again you are Ron Paul supporters so I take that back.

Anonymous said...

After Nixon won in 1972 a NY Times editor was quoted as saying she couldn't understand how Nixon won. Nobody she knew voted for him. Nixon of course won 49 states. The editor was so isolated from the real world she simply had no idea what was going on outside of the Upper West Side where everyone was sure Nixon would lose.

HP is similar. You people live in this universe of housing crashes, PPTs, $50 trillion federal debts, Ron Paul with a chance in hell, $2000 gold, oncoming great depressions, peak oil and other such nonsense. You only talk to each other. You spend hours upon hours on conspiracy web sites filling your head with garbage. And I think you really believe what you say, as sad as that may be.

One day you will wake up and ask yourself how in the world did house prices not fall 80%? Why is it that I still rent an apartment at 40? How come gold isn't at $2000? Everyone I know was sure the crash was coming, I just don't get it.

You are however very entertaining. I'd actually pay a subscription to read this craziness. Keep up the good work.

Anonymous said...

a few weeks ago mozilo was saying what problem, there is no problem......we gotchu covered boy.......

now this........

i am soooooooooo shocked........not......

Anonymous said...

wow, with all the blogs and the internet, now the common man can network and read things.......my ,my....the criminals can't get away with as much as they used to.....

now we stand on the precipice....

now we shall witness the fall of the united states.....enjoy the show....

go clean your guns and check your gear....its almost time to assemble at lexington....

one more time.......

Hard Landing said...

UAUA is the worst example EVER on HP. An airline that is desperately trying to find a buyer posting "record" profit is beyond pointless. Go buy $10k worth...Please, you dont have the nuts.
Now UA is a great metaphor for the desperate (fearful?) FBs who list at inflated prices, claim its different here, and want out asap. I could go on...

shtove said...

Why is there this sudden rash of posts from perpetual-motion-machine fantasists?

g said...

Poor anonatrolls. They are really coming out strong today, trying to push that reading back up to "denial". They may be succeeding. So to all of them, let's just lay it out real clear-like how it's gonna work:

1) prices crash in the most speculative areas first. when the stock market last crashed, the internet stocks crashed first. now CA and FL are leading the way for the housing crash. prices are down 10-20% already in most areas here in San Diego.
2) the trickle down effect to the rest of the economy is slower as houses are much less liquid assets, and much of the supplies to build them are purchased well in advance, and people still have inflated appraisals lingering to take out HELOCs to spend money. so you don't notice a correlation with broader financial markets until even more after the fact than for a typical leading indicator, if we were looking at, say, strictly equity markets.
3) Eventually, the Nasdaq and S&P start to break down. They have most exposure to the US consumer, who is maxed out. The Dow can hold out longest as it has companies that benefit short term from a falling dollar, and sell to booming emerging markets.
4) Eventually the emerging markets that are heavily dependent on the US consumer as well feel the pinch. Once those overheated dominoes fall they'll take the Dow with them if the US consumer, or forced liquidation of assets by imploding hedge funds, or other such things don't take it out first.

zzwcck said...

Wow!!! The educators sure have arrived here in mass. Makes me feel like I'm on a stock message board. I'm so greatful someone could identify another area of the great american economy which is soaring: the airlines. Let's see management F'd the employees by dumping the pensions on the american people via the PBGC, cut employee wages, gave themseleves retention bonuses than were able to make a profit. I'm dumbfounded how they were able to make a profit.

As far as the 100 percent increase in prices go who's gonna buy it? Some pansy and his dumb wife? I'm betting you could badger them into buying the thing Anon. Heck you'd probably feel good at the end of the day.

Anonymous said...

I don't agree with the HP people all the time, but about half the time, they're right.

Whereas their detractors have been wrong, 100% of the time. So, anonymous, continue to insist that nothing is wrong and that the economy is roaring ahead to new heights on the back of endless housing appreciation and a strong dollar while the "wealth effect" makes $20,000 entertainment centers and $50,000 cars an everyday thing.

I'll continue to focus on the fundamentals. And so far the HP people have been right more often than their detractors.

Ben Dover said...

Wenatchee, Wash
Raleigh-Durham-Chapel Hill
Salem, WA,
Boise, Idaho,
Grand Junction, Colo.
Charlotte


SO??? Would you live in any of those places? I didn't think so.

Just looking said...

Anon said:
Housing Crash? Maybe in Miami and Phoenix. Rest of the country...not happening.
Yep, it’s not happening now but it’s going to. Washington is always behind the rest of the country.
Man! There is a house for sale in our neighborhood. About 2000 square feet, 3 bedroom, 2.5 bath for $470000 (Lynnwood, WA). This is f@cking insane! Almost half a million for a pile of dead wood???
I can afford to buy this house and become a mortgage slave forever but I will never do it. Why? I’m renting a similar house (a little bit smaller) in the same neighborhood for $1300 (water, garbage, cable TV included) and putting extra money on my saving accounts.
I’m free!

Anonymous said...

"UAL is an airline. Airlines do well when the economy is in good shape. People do not travel when they're hurting financially. Therefore when UAL has record profits it is an indicator of a strong economy."

And how the company is run, the number of branch offices closed, maintenance and terminal workers laid off, pension fund money redirected, (should I continue???), has nothing to do with profit. More people flew on higher priced tickets and the economy is booming. In that case can I interest you in Sacramento investment property?

Anonymous said...

Anonymous said...
mental midgets:

UAL is an airline. Airlines do well when the economy is in good shape. People do not travel when they're hurting financially. Therefore when UAL has record profits it is an indicator of a strong economy.

I think even you 8th grade dropouts can figure that much out. Then again you are Ron Paul supporters so I take that back.

July 24, 2007 9:48 PM
---------
Yet another bug on my windshield

For the record I have a BS, MS & JD and my analysis comes to the conclusion that despite the positive indicator that a SINGLE transportation stock communicates the fact that a multitude of other economic indicators communicate a negative signal in regards to the health of the economy I must go with MAJORITY RULE.

Oh, and what this:

http://tinyurl.com/28vysk

The DOW concurs with my analysis and debunks you're pathetic observation as a moth trying to pull the carcass of a dead BULL.

Just another willfully blind, kool aid drinking sheeple suffering from cranial, rectal inversion. PATHETIC

ricardo monte said...

I don't think there is any one day that is IT

It will be a long drawn out process of denial and finally capitulation as the tsunami of bad news crashes the markets. One can only hope it doesn't cause too much damage because many good people did not game the system and do not live in debt.

Anonymous said...

Mental midgets, foreclosures are up 100% and you think there is a recession. Oops....I meant uh....Starbucks is raising drink prices again. That's proof that home prices are going up

Anonymous said...

Anonymous said...

What is the last thing on a bugs mind when it splatters on the windshield of your car?

ANS: Then windshield.

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

Right joke, wrong punchline.

Actually, the joke goes like this:

Q: What's the last thing to go through a bug's mind when it hits your windshield?

A: Its ass!

Anonymous said...

Dont worry bushs brain karl rove really really cares about his country mexico

Anonymous said...

FULL ON DENIAL just about everywhere I see!

I do however see anxiety about the future!

Paul E. Math said...

The thing is, real estate is not 'turning around' in 2009. Nor is it staging a come-back in 2010 or 2011. And Mozillo knows it.

He's making it sound like he's capitulating when in fact he's saying that housing will make a come-back in a short year and half. It's a very subtle but desperate attempt to coax a few more suckers into trying to catch this falling knife. He's doing what he can to salvage what is left of his dying empire.

Those who think of themselves as 'long-term investors' will hear Mozillo's words and rush out to pick up a bargain, thinking all they have to do is wait a year and a half and they'll rake it in. Hey, they're in it for the long haul.

Real estate is dead and it will stay dead for the next 30 years.

Anonymous said...

In Birmingham, Al, counted 39 for sale signs on the six mile drive home from work tonite. This is in Mountain Brook and Forest Park, the old money neighborhoods. Homes average between $550,000 to $1,000,000+
In the less wealthy area of town, foreclosures are so rampant they couldn't be autioned off on the court house steps last week...too many and no takers.
The real estate section of the paper was especially thick this sunday, but prices staying the same. Only a few beginning to lower.

Anonymous said...

It also took 7 years for UAL to show a profit!

Anonymous said...

Now that UAL has shown a profit, Hillary can tax it!!!

Anonymous said...

I am so imbarrassed, I sneezed and it made me Qweef..........and I'm a guy!

kitchenstove said...

Anon 10:02 PM,

I'd love to find out what universe you live in. I could use a drink and it's obvious they sell some strong booze over there on Planet Troll. Have you been watching the news or reading any newspapers? It's not just the "tinfoil hats" anymore. I'm guessing you trust the MSM over the "conspiracy theorists", and the MSM has pretty much started to report many of the same things about housing that HP has been talking about since like forever. Furthermore, this thing is far from over. The sky still has some ways to fall. I feel we're nearing the Fear Stage too, but obviously there are still some poeple lingering in the comforting arms of the Denial Stage.

guy in boston said...

Well. Hm... This housing crash - it's really like a round of musical chairs, isn't it? Only without the music. And of course, there appear to be no chairs left either. So it isn't at all like a round of music chairs after all, is it then?

Anonymous said...

What meathead is looking at the DOW and claiming we are up for theyear? Everyone watches the DOW closely. Too closely. It is used to manipulate. How? Look at the financial sector. While the DOW is up, the financials are silently heading lower, and quickly. This decline has been in motion for some time. You just have to look in other areas and not concentrate so hard on the DOW. The DOW is being held up as a rear guard smokescreen while other sectors begin their descent.

Anonymous said...

Title says it all: FEAR!!

Subprime Rout Gives `Serious Reasons to Worry,' Moody's Says

http://www.bloomberg.com/apps/news?pid=20601087&sid=am286w9BwBiE&refer=home

Anonymous said...

Keep pumping those stocks! This blog used to be crawling with real estate bulls (trolls) chanting the party line. They don’t come around anymore! they had enough money for food or internet service. They are eating..

Anonymous said...

Renter in Rhode Island

Here in RI, I can only say it's been a long slow process, many people insist on holding out for another 2004. Meanwhile, the only real state paper (Providence Journal) has been forced to publish an entire section of the paper on Saturday committed solely to "LEGAL ADS" 99.44 % Notices of foreclosure. This is in addition to the ones that are in the paper each day. Last Saturday 7/21 I stopped counting when I reached 200

Shakster said...

Troll is like the employees that lost their 401k butts 5 short years ago.Yeah we know that could never happen again.LOL.
Question :Will anyone be on the hook to the IRS for the losses incurred by a lender in a short sale?In some cases 50,000frns,others 500,000.?
This is a big deal coming up,and all the MSM could do was Splatter Lindsey Lohan's story all over the place incessently.

Anonymous said...

Bushes are working right out of the Nazi Playbook... i've been saying that to my family since the fall of 2001. I just found this video:

http://www.youtube.com/watch?v=G4-TL5AGHFY

belchorama said...

Wow, the anonotrolls are really yapping today. Guess this is their way of dealing with watching their net worth decline at an alarming rate. Today was great for me, I've been holding a nit of gambling money in CFC and IMB puts for a few months now. They've been up and down but after today's "blindside" (as reported by a laughably dumb MSM reporter), my 3k in betting money is worth 5k. Downright fun to watch this spreading to prime.

I don't know how many of you anonotrolls are making these pathetic posts, but let me just inform you that you are douche bags, and are quite stupid. I'm not a wingnut, this is not a conspiracy website, and you're not more practical then me because you take your news from Faux. I'm smart enough to understand "buy low, sell high", and smart enough to realize when news from Republican butt-pipes is not providing true, complete, or unbiased information; that's why I'm here. Keith's and Ben's links provide data and analysis that the MSM and your butt-pipe Republican idols on Faux are not smart enough to provide to their audiences, which are all too happy to listen to whatever obviously-stupid rubbish they choose to broadcast on any given day.

Now shut up and go to Zillow and Faux to re-assure yourself that your house price has only fallen by 10%. Ha ha ha. Good luck with that. Butt-pipes.

What is with all the mouth breathers lately? said...

Well Keith you want us to be nice and its big of you to include the like of:

There are 4 million homes for sale right? Say 3 people per home on average = 12 million people who give a fuck about housing. 12 out of 300 or 4% of the population. Slow down there QWEEFIE you will hurt yourself.

The stupidity and ignorance on so many levels is mind blowing! Wow. Gee things don't spread. Ever hear about how economic phenomena occur at the margin....Credit tightening causes a concatenation of economic events....Ah why bother.....These nimrods belive in creationism that that political parties matter, u.s.a great and all will be saved by Hillary, Rudy or Fred Thompson.....If it were not so tragid it would be pretty funny to watch....

robert said...

Anonymous said...
"UAL posts record profits. Some recession.
DOPES "


Hear that FB’s? Threats of bankruptcy and government handouts finally pay off!

Anonymous said...

Craziness huh?

just keep polishing the brass on the sinking value of 'your' home. perhaps The Secret will help... just think positively it will be okay.

Shakster said...

CBS radio announced that foreclosures in California were up nearly 800% over last year.Bubble Markets has the Graph.It's a record.
........Troll says what?

james said...

"
HP is similar. You people live in this universe of housing crashes, PPTs, $50 trillion federal debts, Ron Paul with a chance in hell, $2000 gold, oncoming great depressions, peak oil and other such nonsense."


Ummm, no. Most of us just realize that none of the current systems are making sense sense, nor are sustainable over the long term. All them debt chasing each other only works as long as people keep it going. One section stops, and the whole thing crashes down and evaporates. And Yes, I have missed out on 20% increases in the S+P and im still renting. But I sleep better with my 5% or so money market/cd whatever.

Anonymous said...

UAL is up, iPhone sales are robust, the world's tallest building is going up as we speak in Dubai. You know what those factors all have in common? They're peak indicators.

Guess what year the Empire State Building, the world's tallest building of its time was built?

pwnd

Agent #777 said...

Why is it that I still rent an apartment at 40?

Actually, I have owned three houses before I was 40, but now rent a townhouse. The cashed out equity looks real nice just sitting in the accounts or in mining stocks

What I am asking myself is why I was able to get a much nicer house just down the street for less this year. Oh wait - I know why. And yet both my previous and current landlord are not selling because "the market is not so hot right now - have to wait until it makes a comeback". I could sell either one and net them 25k or so from where they bought, but they are looking to make twice that, because one or two units sold for that in here 18 months ago or so. How sad. At least my current landlord does not have a mortgage.

How come gold isn't at $2000?

Actually, I do ask myself this, but I am wondering more why silver is not $100 an ounce. I have holdings in 4 different silver miners that have done OK, but not as well as my SA.V or NTO.
I think we see $2000 gold before $100 silver, but we will see $200 silver before $4000 gold ;-)

Agent #777 said...

Oh, almost forgot...

Only 3.5 cents left until Dollar parity with the Loonie!

Anonymous said...

I see a massive government bailout with HUD buying foreclosed homes and excess homes from homebuilders. Hillary will win and the Democrats will give amnesty to 15 million illegal immigrants and their 30 million relative. Our new citizens will be given 50% discounts on these homes. American citizens and legal immigrants will not be eligible for the discounts. The USD will collapse due to this extra $2 trillion in debt, sending home prices soaring and making our newest residents filthy rich.

flip that realtor said...

The lender and homebuilder stocks are crashing to new lows everyday. That can only mean that home prices are increasing.

I think it would be perfect if all the flippers, homebuilders, crazed lenders and realtrolls suffer for the next few years. The best part is all the flipster landlords who are cashflow negative.

Wow--Keith thanks for letting the greater fools post said...

The annon said:

$2000 gold, oncoming great depressions, peak oil and other such nonsense.

Head of Exxon Mobil notes that $100 per barrel of oil is likely by end of year. Price of oil is double what it was in 2003. Read the papers. Yes only the tin foil crowd believes trouble ahead, hell even Bernanke, buffett, belatedly WSJ have come around to point out things we have pointed out for months---nah you know more that is not in the papers or anything. Annon you and the other trolls are like Talebs Turkey. You get fed for 500 days and assume it will go on forever, then on day 501 you are dinner.......Its all going to be o.k. and all will be the same. Can I selll you a buick and a house in the burbs along w some Countrywide stock sir?

deepcgi said...

$2000 Gold?

Adjusted for inflation that would still be near its highs in my lifetime.

Think bigger. Think $4000 Gold.

As far as a depression...count on it. I'm living in Redmond, Washington. The town "immune" from the housing bubble. I'm sitting here watching my neighbor clean up after the workmen who just installed his new deck, jacuzzi and bird feeder. He's rich, you see. A very wealthy man. Ten years ago he was a young guy with no debt and a programming job. Poor. Today, he is an older man with a $500,000 mortgage on a $500,000 house - and a programming job. He rich now. You can tell by the quality of the bird feeder behind his 3 bedroom 2 bath home.

Budvar. said...

"Hmmmm.... DOW down big today...
WHERE THE F*CK IS THE TROLL?!?!?"


Yes come on Dopes (well thats what you sign your name as) where are you?

Guess what, iphones are no longer selling like hotcakes, it's official and AT&T have also reduced their earnings, why you ask?
Iphones are no longer selling as expected!!

So er.. tell us all again how the dow is at an all time high and iphones are selling like hotcakes and the economy is booming. Oh you cant can you, it isn't, they aren't and the only thing booming is the the sound echoing around in that space between your ears.

Anonymous said...

deepcgi:

programmers are not supposed to be rich. despite what you nerdlings keep telling yourselves, what you do is not that hard. any fool with a 6 month diploma can be a programmer.

you are glorified mechanics only without getting your hands dirty. yet you all think you DESERVE to be rich. your neighbor is just about where a skilled tradesman should be in life.

Anonymous said...

Ben Dover said...

Wenatchee, Wash
Raleigh-Durham-Chapel Hill
Salem, WA,
Boise, Idaho,
Grand Junction, Colo.
Charlotte

SO??? Would you live in any of those places? I didn't think so.

July 24, 2007 11:20 PM

===

No I'd much rather live Mexifornia,with the illegals, traffic, crime and gangs, all that while living in a 1200 sq ft,70 year old home that costs $800K.

Boy oh boy.

Anonymous said...

For the record I have a BS, MS & JD and my analysis comes to the conclusion that despite the positive indicator that a SINGLE transportation stock communicates the fact that a multitude of other economic indicators communicate a negative signal in regards to the health of the economy I must go with MAJORITY RULE.

=======

1.Anyone who constantly brags about their education is insecure as shit. The unabomber had 2 PhDs. You can have all the degrees in the world and still be insane.

2. UAL posted record profits. You keep focusing on the UAL stock, again showing the less than stellar mental capacity of that JD mind. Toyota, Honda, BMW and Mercedes all posted RECORD sales the past quarter in the US. In recessions/depressions people do not buy cars in record numbers you dolt. Did they not teach you that while getting your degrees?

Dolt.

Anonymous said...

amazon posts superb earnings,you know how it goes during a depression, everyone's shopping for books and CDs online

boeing's profit jumps to $1.1B - in depressions airlines buy lots of planes to haul around all those unemployed people going on vacation

nintento profit up up up - as we all know during depressions, parents buy their kids video games en masse

This blog is truly bizarro world. Booming economy in real world, depression in bizarro HP world. Fascinating.

Anonymous said...

Anonymous said...
For the record I have a BS, MS & JD and my analysis comes to the conclusion that despite the positive indicator that a SINGLE transportation stock communicates the fact that a multitude of other economic indicators communicate a negative signal in regards to the health of the economy I must go with MAJORITY RULE.

=======

1.Anyone who constantly brags about their education is insecure as shit. The unabomber had 2 PhDs. You can have all the degrees in the world and still be insane.

2. UAL posted record profits. You keep focusing on the UAL stock, again showing the less than stellar mental capacity of that JD mind. Toyota, Honda, BMW and Mercedes all posted RECORD sales the past quarter in the US. In recessions/depressions people do not buy cars in record numbers you dolt. Did they not teach you that while getting your degrees?

Dolt.

July 25, 2007 12:23 PM----
Well which is is cheesed!ck: HPer's are uneducated baffoons but if the come forward and debunk it by disclosing their credentials then they are insecure and insane? You cannot have it both ways unless you're the BAFFOON and INSANE Freak!!

Disclosure is not bragging, its only bragging because you are perceiving it as such. When someone hands you their business card and it lists their education are they bragging? Only in your bizarro world!!! But a guess an uneducated out of work realtwhore who now surfs the net while making minimum wage as the night shift at the quikie mart would feel insecure when meeting people who've actually earned a livelihood and were motivated to become educated instead of being a failed parasite such as yourself!!

Anonymous said...

Anonymous said...
amazon posts superb earnings,you know how it goes during a depression, everyone's shopping for books and CDs online

boeing's profit jumps to $1.1B - in depressions airlines buy lots of planes to haul around all those unemployed people going on vacation

nintento profit up up up - as we all know during depressions, parents buy their kids video games en masse

This blog is truly bizarro world. Booming economy in real world, depression in bizarro HP world. Fascinating.

July 25, 2007 12:33 PM
-----------
Your the one living in a bizarrow world. Most HPer's are not saying anything about depression, you're injecting it into the debate. Then you continue to point to non-housing related positive economic factors to somehow bootstrap into some bizarrow world logic that the MSM admitted housing recession does not exist.

Now get back to work cookingup them fries for today's lunch crowd, you need to suppliment your lack of RE commissions until the next money for nothing scheme comes along!! PINHEAD

Agent #777 said...

@ANON, 12:12 PM

deepcgi:

programmers are not supposed to be rich.


The post from deepcgi was supposed to be facetious, and I thought it was obviously so. It had nothing to do with the man's profession, but instead his financial position and pattern of spending. He could have been a doctor or a fruit picker, and it would not have altered the intent of the post.

Just another example of why you should not allow anon posting Keith.

Anonymous said...

1999: Y2K

2007: Housing Crash

Anonymous said...

Anonymous said...
1999: Y2K

2007: Housing Crash

July 25, 2007 4:50 PM
------------
Correction:

1999: Y2K--fizzled

2000: DOT BOMB--Exploded

2001: 9/11--Massive deficit spending, recession

2002-2005: Insanely low Fed overnight funds rate inflates the largest asset/credit bubble in human history

2006: Rate increases to create Soft Landing

2007 & Beyond: Lord knows but it does not look pretty despite all the willfully blind anon trolls who are tapping their ruby slippers together.

Anonymous said...

1999: Y2K was believed by a group who went out and built bomb shelters

2007: housing crash will lead to a great depression believed by a group that thinks renting a shithole apartment at 40 is the way to live

I dare say the group is one and the same.... middle aged, white men, probably IT types, most likely divorced, listen to talk radio to get the "truth" that the "msm" is hiding.

Anonymous said...

Goodness, the trolls argued housing was OK. They cannot argue that anymore, so instead they're talking about how Wii sales and United Airlines posting its first (tiny) profit in 7 years is proof that their 1,800 square foot home in Milpitas really *IS* worth $1 million.

It was comical, now it's just tragic. A mind is a terrible thing to waste.

keith said...

the sheer stupidity of the trolls shows you the stupidity of the American people who got taken in this latest con game

I can just feel the high school football player, the call center jockey, the used car salesman, the low IQ dolt coming through the keyboard

I'm not sure whether I feel sorry for them, or not.

Anonymous said...

Anonymous said...
1999: Y2K was believed by a group who went out and built bomb shelters

2007: housing crash will lead to a great depression believed by a group that thinks renting a shithole apartment at 40 is the way to live

I dare say the group is one and the same.... middle aged, white men, probably IT types, most likely divorced, listen to talk radio to get the "truth" that the "msm" is hiding.

July 25, 2007 8:09 PM
------------
Because obviously they should all be listening to YOU!!?? HAA, Yeah right. Get a life loser, you just described yourself.

robert said...

Anonymous said...
“This blog is truly bizarro world. Booming economy in real world, depression in bizarro HP world. Fascinating.”


-Countrywide's Net Declines 33 Percent on Home Equity (Update7)

By Will Edwards

July 24 (Bloomberg) -- Countrywide Financial Corp., the biggest U.S. mortgage lender, reported a third straight quarterly earnings decline and reduced its 2007 forecast as a growing number of consumers fell behind on home-equity loan payments.-

- ``We are experiencing home price depreciation almost like never before, with the exception of the Great Depression,'' Mozilo said during the call. He said it would take all of next year for the mortgage market to ``turn this battleship around,'' before demand rebounds in 2009.”-


http://www.bloomberg.com/apps/news?pid=20601087
&sid=axilKLgGIXXQ&refer=home



Truly bizarre anon. Of course, Mozilo made this statement after he dumped his stock.

Risk To Economy

``If home prices were to dip measurably, which we do not anticipate, but if home prices were to decline 5 percent or 10 percent, I think the economy could tip into recession as consumers cut back on their spending activity,'' said Lawrence Yun, a senior economist for the Realtors group.

Economists have been trimming their forecasts for home sales as mortgage rates creep higher and defaults rise among subprime borrowers, or people with poor or scant credit histories.


http://www.bloomberg.com/apps/news?pid=20601087
&sid=aGrUGvDJTFHU&refer=home