You wonder how many of these housing debacles were false appraisals, cash-back-at-close, mortgage-fraud-run-amok scams, and how many were just dumb buys.
Subscribe to:
Post Comments (Atom)
skip to main |
skip to sidebar
A time capsule of the greatest financial mania in the history of mankind, told in real-time by regular folks and patriots. May future generations better understand the madness of crowds, and how power and money corrupt.
About Me
HP blogs & websites
- AmericaPANIC
- Angry Bear
- Angry Renter
- Bank Implode-O-Meter
- Big Picture
- Blown Mortgage
- boom 2 bust
- Bubble Blog News
- Bubble Markets
- Bubble Meter
- BusinessWeek Hot Property
- Calculated Risk
- Case Shiller Graphs
- Charles Smith
- CNBC Realty Check
- Contrarian Chronicles
- Countrywide Foreclosures
- Deflationland
- Denninger Market Ticker
- Dirty Scottsdale
- Dollar collapse
- Dr. Housing Bubble
- Drudge Report
- Fed Up USA Protest
- Financial Sense
- firedoglake
- Flippers in Trouble
- Foreclosure Data
- Gawker
- Gold equals money blog
- Gold Prices
- High Probability kid
- homegain blog
- Housebubble blog
- Housing Blog Recap
- Housing Bubble Bust
- housing bubble hall of shame
- Housing Doom
- Housing Fear
- Housing Tracker
- Housing Watch Price Tracker
- Housing Wire
- I Can't Sell My House
- Infectious Greed
- Inventory Overload (realtor)
- Irvine housing blog
- itulip
- J-walk blog
- Kitco
- Kunstler
- LA Times Bubble Blog
- LA Westside Bubble
- Lasner on Real Estate (OC)
- Lawrence Yun Watch
- Long Island Bubble
- Marin Bubble
- Media - BusinessWeek
- Media - Financial Times
- Media - New York Times
- Media - News Hounds
- Media - Olbermann Blog
- Media - TV Newser
- Media - Wall Street Journal
- Media Matters
- millionaire mommy
- Mish's Global Economic
- ML Implode-o-Meter
- Moneyfiles Bubble Blog
- Mortgage Fraud Blog
- Mortgage Insider
- Mortgage Ledger
- mortgagefit portal
- My Two Cents Blog
- National Mortgage News
- News: Reddit
- Northern New Jersey Bubble Blog
- NYC bubble
- Paper Economy Blog
- Paranoid Ben's boring blog
- Patrick.net
- PeakOil - Life After the oil crash
- Phoenix Flippers in Trouble
- Piggington
- PIMCO Bill Gross
- Politics - C-Span Videos
- Politics - Dick Morris
- Politics - First Read
- Politics - FreeRepublic GOP Talking Points
- Politics - Huffington
- Politics - Kos
- Politics - Malkin
- Politics - National Journal
- Politics - Politico
- Politics - PoliticsTV.com
- Politics - realclearpolitics.com
- Politics - RedState GOP Talking Points
- Politics - The Note
- Politics - TPM Cafe
- Portland Oregon Bubble
- Prudent Investor
- Ramen Recipes for Realtors
- rancid truth
- Real Clear Politics
- Real Estate & Housing Outlook
- Real Estate Bloggers
- Real Estate Decline
- Redfin.com
- Republicans Are Assholes
- Sacramento Landing
- Scottsdale Sucks
- Seattle Housing Blog
- SlackerRevolution
- SoCal Bubble
- Soot & Ashes - New from HousingPANIC
- Speculative Bubble
- Stocks - Blogging Stocks
- Stocks - Bob Brinker
- Stocks - Cramer Mad Money Videos
- Stocks - DealBreaker
- Stocks - Denninger
- Stocks - Financial Times
- Stocks - Forex expert
- Stocks - I Bank Coin
- Stocks - Market Ticker
- Stocks - Money Week
- Stocks - Motley Fool Caps
- Stocks - Option Addict
- Stocks - Options Trader
- Stocks - Portfolio.com
- Stocks - RealClearMarkets
- Stocks - Seeking Alpha
- Stocks - TheStreet.com
- Stop the Mortgage Bailout
- the greenspan mess
- The Superficial
- Trulia
- Truth about mortgage blog
- UK House Bubble
- Video - Blip Radical TV
- Video - BrassCheckTV
- Video - Countdown
- Video - Fox Business
- Video - Movietone News
- Video - NBC News
- Video: Bloomberg Live
- Video: BNN Bubble News
- Video: C-span Junkie
- Video: CNN Live
- Video: Crooks and Liars
- Video: Daily Show
- Video: Housing Crash TV
- Video: Jim Cramer
- Video: MSNBC
- Video: PBS Frontline
- Video: Peter Schiff EuroPacific
- Video: Politics Videos
- Video: Presidential Debates
- Video: TPMTV
- Vigilant Investor
- Voice of San Diego
- What Bubble?
- Wiki US Bubble
- Zillow.com
- zz HP Mandatory Terms of Use
Blog Archive
- February 2022 (1)
- August 2018 (1)
- November 2016 (1)
- June 2013 (1)
- December 2010 (1)
- November 2008 (22)
- October 2008 (155)
- September 2008 (164)
- August 2008 (141)
- July 2008 (108)
- June 2008 (129)
- May 2008 (128)
- April 2008 (161)
- March 2008 (198)
- February 2008 (168)
- January 2008 (190)
- December 2007 (151)
- November 2007 (132)
- October 2007 (146)
- September 2007 (157)
- August 2007 (143)
- July 2007 (163)
- June 2007 (147)
- May 2007 (153)
- April 2007 (135)
- March 2007 (118)
- February 2007 (147)
- January 2007 (138)
- December 2006 (157)
- November 2006 (154)
- October 2006 (193)
- September 2006 (199)
- August 2006 (182)
- July 2006 (184)
- June 2006 (140)
- May 2006 (200)
- April 2006 (166)
- March 2006 (154)
- February 2006 (105)
- January 2006 (74)
- December 2005 (119)
- November 2005 (132)
22 comments:
Gotta love those Elk Grove beauties that have been on the market for close to 500 days now. I think that we'll see 50-60% off before they start moving.
Who would want to live in Elk Grove anyways?
SUZANNE!!!!
And Wall St. giving Freddy Krueger and Jason jobs in creative finance as modern day alchemists & their penchant for doing harm.
So where do you fit in, on this here chart:
http://www.oftwominds.com/
photos07/mortgages2.gif
I am not one one of the normal one's..I actually have a 30 year fixed rate and put 20% down..Circa 1993...we are far far from the bottom.
It was also the stupid investors from the bay area using their no doc / liar loans with option payments.
"on the market for close to 500 days now"
I really wish each local market blog had it's own "Flippers in Trouble" section or link! Kudos to this genius!
Trust me, if they're sitting in Elk Grove, SAC etc. they're sitting (and reducing elsewhere). I love the way he let's the facts simply speak for themselves. No commentary needed.
Also I credit the author for taking the time to re-define the term "flipper". You don't have to be on a TV show and covered in paint to be a flipper.
A teaser loan rate, cutting the lawn ocassionally and waiting for your 2 year time frame tax free money SHOULD BE the accurate use of the word! Unlike the crowd whose manic and misdirected actions at least require "some" effort, real flippers simply let the passage of 24 months do all the work for them! Nowhere is this more clearly displayed than on "Flippers in Trouble"!
DinOR
Home prices will NEVER go down by 20 or thirty percent. It's impossible.
Oh, wait, they already have and they're still not selling?
Never mind.
"So where do you fit in, on this here chart:"
I decided to be "different" as well. I have 30 year fixed at 6%.
However, I do have a HELOC for $40K I took out last year before the home values started tanking. It currently has a 0 balance and I don't intend on touching it except for in a dire emergency (If I lose my job and can't sell my house).
Which brings me to another question, could/would the bank lower the credit limit on a HELOC based on the value of the home going down since the mortgage was originated?
I still have a cushion of equity because I put $35K down and peak was about $40K more than I paid but I was just curious. I paid $223K in 8/05, peak was $265K in 6/06 (June 06 was Jacksonville Florida's peak).
ummm...holy sh**!!
amazing and the homes are still over priced!
First of all this blog is addictive!
On this blog a lot of attention is on Cali or Az markets. I'm over here in South Florida which bloomberg.com says is the epicenter of the housing mess. I would say south florida is competing with Phoenix, Az. I am in R.E. myself but I consider myself as a ethical person who in not full of greed! This area is full of scum bags and they are the root cause for sure! I am not in any desperate situation personally but so many people here are. There was a lot of manipulation of spanish speaking only people by there own people who put them into "bad situations" This area is all about money. Every day it looks like a car show with Bentleys, Ferraris,S class, 750is every and all day long! I love the word "Mc Mansions" Yet these people have no idea what is really going on at this time! WTF!!! In S. Fl. we have big problems with insurance and taxes by our corrupt pig headed state and local gov't which to me makes this area even worse. Everyone here is still trying to hold prices because they are in to deep!! The 30% appreciation per year drove up prices to high levels to the point where the only way people could afford to buy anything(not just amatuar investor or even 1st buyer) had to take out one of the option arms to be able to afford with taxes and insurance. My point is just about everyone is in a option ARM here from WPB to MIA. There are many condos buildings that have been built and closed for about a year or more and most are vacant or worse have never been lived in. I agree with some of the people on the blogs that this is happening in SLOW MOTION!! I am really worried personally about my future and the career i chose. I chose this field because I like doing what I do!! I am hesitant to ask but here it goes! Does anyone have any ideas for someone like me?!
Keep in mind the 'losses' on FIT are actually pension fund/hedge fund losses!!!!!
No borrower can or will pay back 300k of bad debt on upside down house.
Just wait till those end up as foreclosed and the banks get THIER turn to sit on them for 500 days before writing down the loss when it finally sells.
OH MAN THE HEDGE FUNDS LOSSES WILL GO ON FOR YEARZ!!!!!!!!!
Casey, is that you?
It's funny. I hear in my head from that horrible flip this house show, "I stand to make a projected profit of $140,000"
LOLOLOLOLOL
This will never get tired.
Kieth- If the Government ,or MSM,or NAR didn't say it then it must be all in our heads.LOL.
The whole Central Valley of California has been declining hard,and according to numerous witnesses is a big mess.But these witnesses are of course not to be believed.
Just Pass the Popcorn please.If this is just a Hollywood mystery thriller then it otta be good entertainment.Like Apocalypse NOW,First Blood,or my favorite Battlestar Gallactica when the Cylons Found Earth,and Appollo,and Boomer,and FaceMan tried to Warn Los Angeles.Ohmen-Dirk Benedict had to get another gig cuz his show was cancelled after LA was destroyed.
Get out,Get out!
can we get this sight in L.A.?
Buh...buh...real estate never goes down and we are running out of land...and...and...and Bush and the DOPES guy said everything is rosy!
"I am in R.E. myself but I consider myself as a ethical person who in not full of greed! "
Bwahahahahaha...an ethical realthwhore who lives in Miami...bwahahahahaha...the funniest crap I've heard today! Man, this site is getting funnier by the day.
"Does anyone have any ideas for someone like me?!"
Sure buddy, we HPers are here to help our REIC friends. Here's an idea:
Get all your REIC friends and go for a duty tour in Iraq.
Hey, Keith, thanks for the link. Saw my stats and I'm over 2000 hits for the day. That's about 1000% of normal.
Thanks!
Max needs a publicist. That site is a little dry, but every msm turd should be using it as an indicator.
It can't lie unless the MLS does, it's easy to read, and it has the details so you can double check if you think a number is off base. It doesn't even add for the paint and carpet and sod that you know everyone has lost CASH on. Maybe some smart local tv station will pick it up as a 'play of the day' sorta thing.
Post a Comment