HousingPANIC - The Housing Bubble Blog with an Attitude Problem, 2005 - 2008: Time to make fun of another housing crash city. Today's easy target

July 14, 2007

Time to make fun of another housing crash city. Today's easy target - Tampa, Florida

Why anyone ever thought it was smart to pay $500,000 for a one-bedroom condo in Tampa is beyond me. Well, it's beyond new buyers too - and $500,000 becomes $200,000 real quick.

Tampa, welcome to your moment in the sun.

Have at it HP'ers.

61 comments:

Anonymous said...: .
.
Only thing missing from this picture is a rusted out pickup with a W '04 bumper sticker.

I wonder if all of the crackers in the deep South think Chimpy McDumbass is gonna' bail out their asses?

I got news for you crackers, you're not his kind of people (cf. Scooter Libby).; July 14, 2007 11:11 AM
Anonymous said...: White trash town with Bush/Cheney bumper stickers and US flags everywhere while they buy Chinese at Wal Mart

Tampa is one of the worst; July 14, 2007 12:07 PM
Anonymous said...: Damn ugly chart; July 14, 2007 12:23 PM
David in JAX said...: Only thing missing from this picture is a rusted out pickup with a W '04 bumper sticker.

You are obviously not a southerner. White trash southerners and old time crackers are a solid voting block for the democrats. The WT don't vote often, but love the democrats because they need to "geet thar gubmit chek" and they know where it comes from. The old time crackers want things to go back to the way things were when they didn't have to put up with all of the OTWs (other than whites). Crackers have a heavy voter turnout and hate Republicans more than anything.

Tampa is an OK city by the way. Nicer than many US cities, but definately not top tier. But, it's RE prices shot up due to massive speculation from people who thought prices were a deal when Miami prices were shooting up. It's RE market was much like Phoenix, but on a smaller scale.; July 14, 2007 12:49 PM
Anonymous said...: Where can I buy a pair of shorts like that?; July 14, 2007 1:57 PM
blogger said...: White trash vote SOLIDLY Republican because of religious issues (they hate them gays and love their Jesus) even though it is SOLIDLY against their own interests to do so

The GOP, the party of business and the rich, smartly positioned themselves as the anti-Black party of god post-Watergate in order to take the votes of white southerners and it worked brilliantly, the south went from solid Dem to solid Rep

Stupid is as stupid does.

Here's some good reading on the GOP's southern strategy

http://en.wikipedia.org/wiki/Southern_strategy; July 14, 2007 2:03 PM
Anonymous said...: That chart can't be real! Home prices never fall!; July 14, 2007 2:05 PM
blogger said...: Oh, in case any faux news viewer disputes the GOP southern strategy, remember that mehlman admitted to it recently:

RNC Chief to Say It Was 'Wrong' to Exploit Racial Conflict for Votes

Thursday, July 14, 2005; Page A04

It was called "the southern strategy," started under Richard M. Nixon in 1968, and described Republican efforts to use race as a wedge issue -- on matters such as desegregation and busing -- to appeal to white southern voters.

Ken Mehlman, the Republican National Committee chairman, this morning will tell the NAACP national convention in Milwaukee that it was "wrong."

"By the '70s and into the '80s and '90s, the Democratic Party solidified its gains in the African American community, and we Republicans did not effectively reach out," Mehlman says in his prepared text. "Some Republicans gave up on winning the African American vote, looking the other way or trying to benefit politically from racial polarization. I am here today as the Republican chairman to tell you we were wrong."; July 14, 2007 2:11 PM
Anonymous said...: Very true, Keith. All the candidate needs to say is that he/she is against abortion and gay marriage and the religious folk would vote for them, even if they were the devil himself. Even if that same candidate were for taxing them into poverty, taking their rights and letting high-class criminals off the hook. The religious non-Christians are some of the dumbest species on earth. Even though they mean well, they're blinded by the abortion and gay marriage issues. (No, I don't support those issues either but I'm done voting folk people who would slit my throat, send my job overseas or fire me and hire an illegal alien just to save $.10 an hour); July 14, 2007 2:12 PM
blogger said...: Don't forget that it's poor people from the south who vote GOP that make up the majority of our military who has been sent off to die in a stupid war

Hopefully these folks will wake up and realize they got used. Big time.

And the housing crash may be just the thing that does that; July 14, 2007 2:15 PM
Anonymous said...: white trash are pure democrats and that's a well known fact.; July 14, 2007 2:18 PM
Anonymous said...: Democrats are going to sell this country down the road. Welcome, Allah. We bow to you!

Harry Reid; July 14, 2007 2:19 PM
Anonymous said...: It's a volunteer army, Keith. Use your head. They aren't "sent off" and they don't think it's a baseless war. It's a war that must be fought. I know you'd rather sit here hiding behind your momma's skirt. So, just let the men and women of the armed services protect your capitalist ass; July 14, 2007 2:21 PM
Anonymous said...: lsast night on the local Tampa news they are saying Tampa will be the first Real Estate Market to turn Around and go Up 10% 2 qtr of 2008 so you better Buy NOW
we are in for a touble Down turn by 2009 their will be devistation
the local realator *ors are blaming the media for their Troubles they site job grown in the area will justif buying a 500K
home plus the average income is less that35K here I will be buying at 30-40 % Off and Selling It for the 10% gain thus making
40-50% on Money and will not hold the Bag; July 14, 2007 2:38 PM
blogger said...: Both political parties make me want to hurl

They got us into this mess, and sheep follow them so easily

Solution? Think for yourself (for a change). Yes, that's harder than having the political parties think for you, but it can be done

Ron Paul is hated by the GOP. He's loved by libertarians and independents, the future of politics in America

I'm not sure which is more antiquated - the political parties or the NAR

Wake up; July 14, 2007 2:43 PM
Anonymous said...: Don't forget that it's poor people from the south who vote GOP that make up the majority of our military who has been sent off to die in a stupid war

Let's not forget that the military was incensed with Clinton. You know the litany: draft dodger; blow job; don't ask, don't tell. But they loved the swaggering, cocksure Bush, Jr. Why, it was even rumored that frat boy spoke with God Almighty and/or the Baby Jebus.

Imagine the military's horror when Bush jammed the Iraq war up their collective asses (no lube). A lot of those poor grunts are now on their 3rd and 4th tours.

Maybe Bush just talks to himself, huh?

Well, crackers, you've only got 17 more months of duty in Iraq, unless Chimpy bombs Iran. In that case, chances are your remains will be air-freighted home (no photos allowed). Be careful what you wish for.; July 14, 2007 2:45 PM
blogger said...: And on the volunteer army - if you think it's a volunteer job after you join, tell you what, go join and then tell them you don't want to go to Iraq

Your ass is going to either Iraq or a military prison at that point

Our troops were sent off to die in the meat grinder of Iraq for absolutely positively no good reason; July 14, 2007 2:45 PM
blogger said...: I'm threadjacking but hell, F it. It's a good thread, inspired by the sh*thole that is Tampa; July 14, 2007 2:46 PM
Anonymous said...: When will it be time for the big housing crash in Los Angeles?; July 14, 2007 2:48 PM
Anonymous said...: Pro Choice/Baby on Board bumpersticker country.; July 14, 2007 3:26 PM
Anonymous said...: Keith, I think I'm a bit older than you...so here's my opinion.
I think the divide and conquer tactics of the Republicans started after Goldwater's loss to Johnson in 1964...upon which the Republicans knew the 'country club' party no longer had a chance in American politics.
You mentioned race and religion...but you forgot to mention the 3rd leg....gun control.
Yee Haw!
An AK-47 in every gun case.; July 14, 2007 3:46 PM
Anonymous said...: Keith, where do you get these pictures? I think this is the best one since the deflating ReMax balloon (which you used twice).; July 14, 2007 3:56 PM
Anonymous said...: Where did that picture come from, keith? Honestly, I like how the guy tucks in his shirt into those cut-off jean-shorts, as if to say, "someone's taking my picture. I better clean myself up."; July 14, 2007 3:59 PM
Anonymous said...: Another ANON poster ask's

When will it be time for the big housing crash in Los Angeles?
___________________________________

Funny you should ask...

Now is the time! We were just waiting for David Beckam and his wife to get here to buy a home in Beverly Hills for 22 million only to get mugged in gangland Carson.

Careful out here Dave!

RayNLA; July 14, 2007 4:01 PM
Anonymous said...: The 12 yr old on the sofa sure looks perty!; July 14, 2007 4:12 PM
Anonymous said...: keith said...
Don't forget that it's poor people from the south who vote GOP that make up the majority of our military who has been sent off to die in a stupid war
==================================================
Ugh! Keith, the military is making it's quota these days off the backs of hispanics.; July 14, 2007 4:16 PM
David in JAX said...: keith said...
White trash vote SOLIDLY Republican because of religious issues (they hate them gays and love their Jesus) even though it is SOLIDLY against their own interests to do so

Sorry Keith, I usually agree with you, but you are dead wrong on this one. There are two groups that we are talking about, WT and crackers. They are not the same. If you spend any time in Georgia you will see what I mean. The old money crackers despise the Republicans and love the big government programs that made them rich off of the backs of the poor. The WT trailer park croud also hate Republicans and want everything they can get for free. They don't have W bumper stickers but have "Is it 2008 yet?" stickers.

The Republicans in the south are the lower middle class to upper middle class and they are heavily influenced by the religious right. Both the WT and the lower middle class Republicans shop at Wal-Mart. I think you may be confusing lower middle class people with true WT.

I'm not a Republican and I'm not a Democrat, but I call it like I see it. I live with all of these groups and can tell you that what I am saying is true.; July 14, 2007 4:52 PM
Anonymous said...: Tampa- the New Jersey of the South.; July 14, 2007 5:03 PM
Anonymous said...: Decaffeinated (and many others on this board) who are just hate-filled and godless.

Your destiny is enough to scare believers. I pray that you all see the light belore it's too late.; July 14, 2007 5:14 PM
Anonymous said...: IMPEACH; July 14, 2007 5:17 PM
Anonymous said...: Tampa: where the old south is alive and well!

Blacks, southern rednecks, and retired whitefolk all coexist in a state of cautious awareness and hate filled volatillity!; July 14, 2007 5:45 PM
Anonymous said...: I live (rent) in the tampa area and we are STILL in the denial stage. For rent signs really started popping everywhere 1 month ago. Inventory is at an all time high. People are counting on property tax relief in January to turn things around!!; July 14, 2007 6:26 PM
Anonymous said...: Some of Tampa is hurting but if your home is affordable. Under 200k and in good condition, your chances to sell it greatly improve. People still want to buy homes but the combination of price, insurance and taxes for Piti must be affordable. I just showed a 180k home with 5300 in taxes. That is just to much!Hillsborough county has had a 41% increase in property taxes over the last few years
If you can be under 200K you and are in good condition, your home will sell.; July 14, 2007 7:39 PM
Anonymous said...: I live in a condo valued at over 400k in tampa bay. Its actually pretty nice, it overlooks the gulf, I can see water from every room in it. I am sitting on my balcony with my laptop right now watching dolphins swim around. And how much do I rent this 400k condo for? About 800 dollars a month. Just property taxes alone will nearly eat up that 800 dollars a month, this puppy clearly has a huge negative carrying cost. Incomes in this area are small and noone can afford all these half million dollar condos that were built on Clearwater Beach during the bubble. And so you can live in a highly expensive condo without spending big if you move to Tampa. So for me the housing bubble is working out great! :); July 14, 2007 7:55 PM
Anonymous said...: Well, crackers, you've only got 17 more months of duty in Iraq, unless Chimpy bombs Iran. In that case, chances are your remains will be air-freighted home (no photos allowed). Be careful what you wish for.

You might be surprised to learn that there are families in this country(in my case the northwest, not the south) who raise their boys to serve at least one hitch after they finish high school or college. Our family has been doing this for over 100 years. When it was my turn I was unlucky enough to go to Iraq the first time and spend 6 days fighting in a tank but I was much better off than the men and women over there now.
Here's a clue for you, people who are being shot at never want to be there.
A coward like you will never understand this, so instead of making remarks like that about soldiers in a war zone shut your dickhole and disappear.; July 14, 2007 8:34 PM
blogger said...: I support our troops 100%, absolutely love 'em

That's why I want them out of the meat grinder of Iraq - a war we had absolutely positively no reason getting into

Get 'em home. Bush has done so much damage to our military and their families. Bring 'em home.

Last poster - cheers to you and your family for doing what you do; July 14, 2007 8:38 PM
Anonymous said...: 'The meat grinder', the lib dems catch phrase!

Another one exposed!; July 14, 2007 8:59 PM
Anonymous said...: Yes -

We need bumper stickers that say:
"Support our Troups -Bring'M Home"

~~~

keith said...
I support our troops 100%, absolutely love 'em

That's why I want them out of the meat grinder of Iraq - a war we had absolutely positively no reason getting into

Get 'em home. Bush has done so much damage to our military and their families. Bring 'em home.

Last poster - cheers to you and your family for doing what you do; July 14, 2007 9:00 PM
Anonymous said...: Burley cowboys in daisy dukes....

..........oh my!; July 14, 2007 9:01 PM
blogger said...: Actually, "meat grinder" was from the Democrats' vietnam war disaster

Go back to faux news now. Should be safe over there; July 14, 2007 9:07 PM
Anonymous said...: A doublewide here in tampa is commonly refered to as a 'mcmansion'. No kidding.

I have lived here for 35 years, but please don't tell everybody!

Tampa=new jersey of the south. Too funny, and very true as my wife is from NJ.

And yes, they love their bush down here. When he allowed pharmaceutical co's to assrape these old geezers pricewise,because of no pricing controls, his popularity went skyrocketing. Its so damn funny watching them bitch about tax hikes too, when the ruling party, you guessed it has been republiban for years, and they have done nothing about tax hikes on realestate, just jawboned and hoodwinked. What a combo pak, dumbasses and con artist, whereby the ruling con-artist 'cornhulio' the dumbasses repeatedly... And the dumbasses beg for more, because the republibans are a party of jesus.ROTFLMFAO

And talk about over supply, hell Apollo beach just south of here looks like they have nearly 1000 houses new and used for sale, and the dumbasses are still building, to this day. No shortage of illegals here in tampa, no sir.; July 14, 2007 9:09 PM
Anonymous said...: Was speaking with a retired Army officer, who was pretty high up and well respected when he retired and who still has significant contacts within the military/military community- while Clinton may have been despised for the "Don't ask don't tell" policy, he does not hold a candle to their hatred of Bush, and more specifically, Rumsfeld. Summary of the conversation was that Bush/Rumsfeld completely broke the Army- all the leaders with integrity are gone and the only thing left is the soldier-politician, i.e., the yes men.; July 15, 2007 1:00 AM
Anonymous said...: i went to college in tampa back in the 80's. remember hearing about a guy paying 47k for a condo and thinking it was expensive.

my brother wanted me to "go in with him" on buying a townhouse in tampa a little over a year ago.. and we could "split the profit when we go to sell"... i thought this was a good sign the bubble was near the end cause he's not a avery astute investor (lost a large percentage of his savings in the tech bubble). so i declined to participate. i think he bought at 135k and it's still hanging in around 180k now, but i warned him about the ARM resets coming soon very likely to affect the comps in his development. quality of construction seems okay but have to be careful about opening your car door cause the neighbors car is almost so close you can reach over and touch it.

Macaca; July 15, 2007 1:02 AM
Anonymous said...: ***************************

Cowboy hats and shorty shorts,

......here's your sign!; July 15, 2007 2:21 AM
Anonymous said...: Hey!Billy Ray Cirus!; July 15, 2007 2:44 AM
Anonymous said...: is that man daring us to laugh at him?; July 15, 2007 3:09 AM
Anonymous said...: Tampa = Tampon

I wonder if there is ever a red tide in Tampon Bay.; July 15, 2007 5:00 AM
Anonymous said...: "I wonder if all of the crackers in the deep South think Chimpy McDumbass is gonna' bail out their asses?"

No, but I bet all the niggers in the deep south are.
Or at least tryinig to sue some lender saying they were discriminated against. HAHAHAHAH; July 15, 2007 7:22 AM
Anonymous said...: Why do anti-war people parrot the "But I fully support the troops" line so frequently? Do you really support the killing of over 30,000 Iraqi civilians at the hands of the American troops? If so, I think you're as bad as the Germans who supported the Nazi troops.

I feel no special affinity for the troops and no more than I do Iraqi civilians. At least the troops are armed and have a chance. Go look at all the Iraqi children killed or maimed by the actions of those beloved troops and tell me you support what they're doing over there. Just because you happen to share a land mass with a group of paid murderers doesn't mean you need to pretend to support their evil actions.

Admit it, anti-war people. You DON'T support the troops. If you did you would support the war.; July 15, 2007 7:38 AM
Anonymous said...: I've lived in Tampa most of my life.

My first piece of advice to anyone considering buying into this market is to avoid condo associations or HOAs if possible. Thanks to several large commands at the local Air Force base and numerous Defense Dept. contractor companies with local operations, military-type thought tends to dominate association boards, and the first thought that pops into a lot of these folks heads when their houses lose half their value is that it is all due to the crabrass in the lawn maintained by the undisciplined civilian neighbors.

If the mililtary mindset makes you crazy, remember, as soon as you sign to live in an HOA, crazy Col. Bat Guano down the street suddenly has a lot to say about how you live.; July 15, 2007 1:32 PM
Anonymous said...: I've lived in South Tampa since the late 80's - own a 1950's era ranch that became surrounded by McMansions in the last 5 years. Thanks to SOH and those recent homedebtors from Jersey, I pay dirt cheap property taxes. No mortgage - paid it off in 1998.

Guess what. It's the idiots from New Jersey and New York who bought the McMansions and are paying those sky high taxes. They're so used to being bent over by the Democrats in those states, they think it's a 'good deal'.; July 15, 2007 3:08 PM
Anonymous said...: Anonymous said...
It's a volunteer army, Keith. Use your head. They aren't "sent off" and they don't think it's a baseless war. It's a war that must be fought. I know you'd rather sit here hiding behind your momma's skirt. So, just let the men and women of the armed services protect your capitalist ass
***********************************************************************************************************
It's a war that must be fought?
Why?
"They" Who is "They" ????.
Capitalism?
Evidently you don't question Authority.; July 15, 2007 4:46 PM
Anonymous said...: Bitter Renter said...
Why do anti-war people parrot the "But I fully support the troops" line so frequently? Do you really support the killing of over 30,000 Iraqi civilians at the hands of the American troops? If so, I think you're as bad as the Germans who supported the Nazi troops.

I feel no special affinity for the troops and no more than I do Iraqi civilians. At least the troops are armed and have a chance. Go look at all the Iraqi children killed or maimed by the actions of those beloved troops and tell me you support what they're doing over there. Just because you happen to share a land mass with a group of paid murderers doesn't mean you need to pretend to support their evil actions.

Admit it, anti-war people. You DON'T support the troops. If you did you would support the war
______________________________________________________________________

Hear,Hear......
I support them if the start shooting their officers.; July 15, 2007 4:52 PM
Anonymous said...: "Decaffeinated (and many others on this board) who are just hate-filled and godless.

Your destiny is enough to scare believers. I pray that you all see the light belore it's too late."

That's nice of you...but why isn't it working? I see no light. Are you doing it wrong?; July 15, 2007 5:41 PM
Anonymous said...: That couch armrest now smells of clam dip and vagisil!; July 15, 2007 6:48 PM
Anonymous said...: I can not take anyone for real dressed in shorts like that!; July 15, 2007 6:53 PM
Anonymous said...: ......and construction boots!; July 15, 2007 6:53 PM
Unknown said...: as for the guy in the pic, that is one serious gay dude. nothing wrong with that, of course. but come on, them are freaking daisy dukes, for gods sake.

oh, and by the way, for all you who support the bushites and the republicraps and the demowhores in dc, I volunteered for vietnam in 69. to support democracy. only to find out that we were the agressors and that the gulf of tonkin incident was a total fabrication. so get off your high ass horses and go read some fucking history.

as for WWII, Roosevelt and the top people knew japan was attacking pearl harbor. go check it out, books have been written on it. In fact they set up the policty to make it happen. WWI, the Lusitania incident, a ship was sent by the brits into areas they knew were patrolled by german u boats. to set the sheep waving their fucking flags and yelling for victory against the godless heathens.
again, read some history.

as for Irag, and 9-11, same fucking false flag operations. save your warmongering patriotic horse shit for your fellow dumb ass take in the ass sheeple. you deserve what is coming, but you will take us all down with you.

by the way, do you have your ID papers and rfid chip inserted in your ass yet. in not, it will be there soon. enjoy the new world order you dumb asses.

warmest regards,; July 16, 2007 8:58 AM
Anonymous said...: David in Jax Said...

"I think you may be confusing lower middle class people with true WT."

I live in Jacksonville, as well. They seem like one in the same. I can't really tell them apart.

W '04 Stickers on cars with "First Baptist" license plate frames in the Wal-mart parking lot.

You can call them lower middle class, but I still consider them White Trash and Jacksonville has way more than thier fair share.; July 16, 2007 4:28 PM
Anonymous said...: This is the area that my now ex-wife would love to buy a condo near. That purchase being for the purposes of living out a life on the beach with the sheep fuc*ing Scottish dickweed from Glasgow Scotland named Alastair McComb or some other like minded golf duffing, shuffleboard playing asshat - All I can say is that people like her and him deserve one another. May they find "boomer nirvana" and "idiot bliss" in Tampa Florida.

Smug Bastard; July 16, 2007 5:13 PM
Anonymous said...: ........shorts like that!; July 17, 2007 2:55 AM