October 19, 2007

Great news everyone!!! The housing crash is over!! We now have definitive proof!!


1) iPhones are selling
2) Airplanes are full
3) You can golf year round in Phoenix

Need we say more? Didn't think so. Regardless of the fundamentals, regardless of the record and growing supply, regardless of plummeting demand, regardless of the meltdown in the credit markets, home prices have bottomed, and it's up up and away from here on out!

So get out there and buy three, four maybe even five homes, get yourself a few iPhones and book those flights now!!!

38 comments:

foghorn said...

suzanne called, and there's a "buy two get one free deal" she's telling select clients about.

borkafatty said...

http://efinancedirectory.com/articles/New_Survey_Shows_ARM_Mortgage_Holders_are_Clueless.html?ref=patrick.net

Well this just proves my point..it is the stupid People that signed on the dotted line...Not to be a dick...but maybe they deserve their fate, for not being smart enough to understand, and do some research about what they are signing.

Sign what you read and read what you sign.

This is why you have a 3 day grace period...been there done that..I sent my mortgage back 3 times in 1994.
Reason being what the mortgage Lender underwriter said on the phone was different on the paper work..all 3 times even back then.

borkafatty said...

Sorry for the double post:

Best line I have heard in a long time

"Buying a home and borrowing hundreds of thousands of dollars to do it is something grown-ups do. Sitting around and waiting for somebody to come to your rescue after you have spilled your milk is something children do."

Classic

LauraVella said...

Right Keith, flights and planes are booked, so everything is fine!

Gotta go find my crash helmet, I'm gonna need it next week.

Anonymous said...

Dow 14k?

stewpid rentures.


Dopes

Veronica Lodge said...

RE: Still more proof housing crash is over...

There were five --
that's right, FIVE --
people ahead of me in line at Starbucks yesterday.

And each of them bought a drink that cost over $3.00!!!

This is definite proof that we have entered a Golden Age of prosperity.

V.L.

brokersleaveyoubroke said...

You forgot one

4: Parents are paying up to $3,000 for Hannah Montana concert tickets for their kids.

Where's the DOPES guy? I was sure he would point out the Hannah Montana story as proof positive there was no crash.

Anonymous said...

fuck the I phone.

i don't want it.

don't need it.

won't get it.

fraud economy

Anonymous said...

Oh Yeah make sure to get these now called bargains with an ARM loan.
Im calling 50% more to go (down) in some areas.

Mark in San Diego said...

Heading into the Belly of the Beast this afternoon - Scottsdale!!! . . .will be at Z's Tejas Grill tonight. . .let's see how many mortgage brokers and RE agents are there. . .looking forward to all the "for sale" signs on the way down from Grand Canyon. . .will report later.

Anonymous said...

Sure, all I need is a job.

ZZwcck said...

I've just been waiting to start my real estate career. I have copies of ever flip this house and I've collected so much information on my target area that I'm ready. Do you think I should become a real estate agent first? I'm trying to find a mortgage broker since most of the guys I had contacted are now working in a different line of sales. Know anyone with access to negative ARMS?

Oh, I'm so excited I've been waiting for this and now it's finally here. I'm going to max out my credit cards and take the max I can on the 401k so I can buy a bunch of the foreclosure properties this weekend. Maybe I should buy some of those hot properties overseas, too. I don't know much about the overseas market, but now that housing has bottomed I can make so much money with house prices going up by 10% or more per year from here until enternity. I think I'll quit my job and celebrate by taking a cruise. Just think of all the money I'm going to make.

Good call housing panic. I almost jumped in when Bob Toll said go, but he just kept saying it month after month. I almost went when the FED said it's contained. I almost when my future brethern at the NAR said bottom. Now that HP has given the green light I'm going in fully loaded. I'm your next real estate millionaire.

Anonymous said...

Im a big fan of paying 800 bucks for a thing that looks like an 8 dollar transistor radio, guess i have to wait for the low quality chinese model for 30 bucks, just even not well made

Anonymous said...

mark in san deigo...see lake powell a bit north of the grand canyon...more shoreline than the pacific coast..us........

Anonymous said...

HEAR YEA , HEAR YEA

BOTTOM LINE REAL WORLD
------------------------------- This country and the world for that matter is not based on a foundation of Google ads and the foolishness associated with it or a bunch of spiked haired nincompoop twits glued to iPhones or iPods who think they are so cool and know everything, and can't their ass from a hole in ground when it comes to real world basics. The major industries, housing, financials, heavy industry, retail, are in or entering into bear markets and this will slowly but surely lower the markets and we will experience a recession with all the associated negatives.

Anonymous said...

VERONIC LODGE... YOU ARE A STUPID WHORE.

LODGE... YOU GET MEATPOLES LODGED IN YOU FOR WORK.

borkafatty said...

http://www.dissidentvoice.org/2007/10/its-time-for-the-banks-to-face-the-hangman/

Nothing but the truth...but you cant handle the truth.

Anonymous said...

Maybe flights are booked because the airlines are cutting back on the number of flights in order to assure that they are booked. Ya think?

Of course we all know that nobody flies when there is a recession. Just like nobody bought cars or ate or watched movies during the Great Depression.

Hudson Valley NY said...

did a search in my area to see if prices are coming down yet.
there was 1 property (fixer upper) for below $200k, a property like this would have been approx. $40K
about 5 /6 years ago.
i called the realtor and she laughed on the phone saying this has already been sold.
as if to say anything below $200k doesn't last in this 'new world'

borkafatty said...

Prepare the Helicopters Bernanke is coming in for a landing...oh ya we are truly F@cked.

Let's translate the BenSpeak:

"stronger action by the central bank may be warranted to prevent particularly costly outcomes" = GS must not be allowed to lose money, at all costs.

"robust-control methods" = lookout below on OpEx mornings

"The concern about worst-case scenarios" = Wall St. bonuses may be affected. Absolutely Not allowed!

"assessing the economy's true state "remains a formidable challenge." = we really have no idea, but suspect it's all bad. Hank tells me I have to help out his friends.

"Uncertainty about the economy "provides a reason for the central bank to strive for predictability and transparency" = never let the sheeple know how they are being sheared.

Anonymous said...

Steve Jobs would make a great realtor. He got millions of people to pay top dollar for a depreciating asset by convincing them they need to keep up with the Jones's

Anonymous said...

2) Airplanes are full

From: http://kunstler.com

The Daily Grunt (if I have anything to say)

October 16, 2007

An interesting letter I got from an employee of British Airways. . . .

As a pilot for a scheduled airline I would like to say the following. The reason we have so many delays is that we are basically trying to fit a quart into a pint pot. The airline business is a vastly complex ballet that requires much time, effort, and money to work properly. Money the airlines don't have. So they try and "sweat the assets" [planes and people] as much as possible in an attempt to stay solvent.

Yes we work to a schedule but it is now so tight that the slightest problem has a exponential knock-on effect. As I sit in yet another queue for departure [number 20 or 30 is not unusual], I ponder on the futility of the companies' latest efforts to save fuel against this backdrop of inefficiency. We use 3000kgs [about 4000 litres] an hour in the air and about one third of that figure sitting on the ground. Add the number of planes together and multiply by the average time spent waiting to depart.

Funnily enough when we get to our destination we usually enter a holding pattern for between 10 and 30 minutes.

I won't bore you with the details but airlines are fully aware of the cost implications of additional fuel-burn due to delays but seem reluctant to actually tackle the real cause. So we get endless memos about how we can save 50kg's here and another 100kg's there whilst at the same time wasting 1000's....personally it drives me nuts.

Anyway, this problem will probably be self-correcting in the short term as fuel costs increase and fewer aircraft make it into the skies on a daily basis.

We grounded Concorde because of the fuel costs, it looks like the B747 [Jumbo] may be next. The "great white hope" is the new B787...twin jets are getting increasingly popular for this very reason, coincidence?

Looking forward to the new book.

"A Pilot"
London [not far from the airport]

Anonymous said...

dopes gettin' b*tchsmacked today!

Cow_tipping said...

What everyone doesn't realise is ... a good crash will get the worthless sheite out of the system.
The .com bust got pets.com, webvan, as well as several of my exemployers out of the game. We need to clear out some dead wood. Beazer comes readily to mind. Many of the quacks too need to get thrown in jail, Carleton Sheets, Robert Allen who is now not selling RE secrets but selling vitamins now.
Well, its unfortunate that we cannot grow smartly in this country. We have to grow like a weed, then have someone throw weed killer on it.
Cool.
Cow_tipping.

Anonymous said...

That's why I love HP, because of gems like "I couldn't book an airplane trip, therefore the economy is doing great". Or the other Krispy Kreme remark. Man, god bless the trolls because they sure make this site more fun.

This just in: CNBC trolls, like Maria "Lend Me Your Corporate Jet" Bartiromo, just got the fax and now the Kool-Aid du jour is that "multinationals" and Google will save the entire American economy.

Yup, two weeks ago she was vomiting all over the place that the American economy was so great. Hey CNBC, sooner or later even the sheeple will catch up with your daily bullshit.

I wouldn't touch this American stock market, even with Kudlow's d!ck.

Anonymous said...

Uh.... Dow 13,500

Dopes

Frank@Scottsdale-Sucks.com said...

Suzanne and DOPES do the world a great service:

They make even the dumbest people feel really smart.

Frank@Scottsdale-Sucks.com said...

There were five --
that's right, FIVE --
people ahead of me in line at Starbucks yesterday.

And each of them bought a drink that cost over $3.00!!!


Nah that's only because Jim Cramer said they should buy frappuccinos instead of paying their mortgages.

Heading into the Belly of the Beast this afternoon - Scottsdale!!! . . .will be at Z's Tejas Grill tonight. .

Ha! The Z Tejas at Fashion Square was a big stripper happy-hour hangout before they all became realtwhores. Something tells me they're probably all back on the stripper pole again......

brokersleaveyoubroke said...

Dow down 369 today. No big volume spike at the end of the day to prop up prices. I guess the PPT is out of ammo or nobody saw the drop as a buying opportunity. Caterpillar reported poor earnings and said there was a 50/50 chance we'll have a recession. A few more warnings like that should get the market past the denial stage.

Anonymous said...

The fact planes are full and iphones are selling means the economy is OK. Housing is tanking, everything else is holding up at least for not.

The two scenarios are not mutually exclusive.

Anonymous said...

re: planes full

I flew from Atlanta to Ft. Lauderdale last week. Used to be you could get a $150-200 return for that route. My cost: $545 and this wasn't last minute either, booked it 5 days before flying. And yes every seat was full. And no they are not cutting back on flights. Delta alone has over 12 non-stops every day each way. Go on and think there is a great depression out there if you want, reality says otherwise.

LauraVella said...

When does appl release their sales numbers?

Anonymous said...

Anonymous said...
re: planes full

I flew from Atlanta to Ft. Lauderdale last week. ..... and boy are my arms tired (rim shot)

Mr. Henny Youngman

kitchenstove said...

All iPhones should come with a pack of Ramen and a packet of Kool Aid.

Anonymous said...

This past week, my old cell phone bit the dust... and I purchased an iPhone...

During these days of doom and gloom, it sure is a nice diversion to behold and experience a marvelous work of design and engineering such as the iPhone. Knock it all you want, because I don't care... I love my iPhone.

I am a big fan of HP, but sometimes the pessimism here goes a little over the top. Thank God that Apple is here in the United States rather than elsewhere. No, the folks at Apple won't save the world, but the example that they set is a bright spot in these dark days.

Lost Cause said...

Oh my, a telephone. Steve, you are a genius.

Anonymous said...

The iphones remind me of real estate. Both are rapidly depreciating assets. Apple cut the price of iphones by 33% and the first wave of bagholders were crying just like the FB's who bought houses the past few years.

Anonymous said...

Idiots camped out overnight for overpriced junk. If only they had waited, it would have been 50% off.