October 07, 2007

HousingPANIC Stupid Question of the Day

The US housing bubble has popped, toxic lenders have closed shop, the NAR and realtors have been thoroughly discredited, the MSM has woken up, flippers have failed, homebuilders have been destroyed, and the sheeple understand that you can lose a fortune on real estate.

So, is our work here nearly done?

34 comments:

Anonymous said...

NO !

This site and other well documented sites need to continue to report. This is far from over. The duty of todays reporters (as opposed to the fluff girls in the MSM) is to get convictions. Orangello, this means YOU !!

This is the moment the blogosphere has been looking for. This is the moment the blogosphere BECOMES the MSM and the traditional media is pushed to the fringe. You have reported this from day one.

DONT LET THIS TIME PASS!

Anonymous said...

WE've made progress but we have a long way to go Keith. Keep blogging until Greg Swan is serving fries at McDonalds and Tangelo is in his cell

Anonymous said...

NO

We must now help further enlighten the sheeple in how to protect themselves as best they can in their endgame awakening.

We must challenge the gov't in its wrongheaded plans.

We must continue to call the lying REIC on the carpet when they spew their vomit.

We must be the voice of sensibility in the recovery process.

LauraVella said...

Keith, your blog has helped so many people avoid personal financial disaster, thank you so much for creating great threads and matching them to appropriate pictures... it makes your blog interesting, enlightning and serious - all at the same time.

The world is entering unchartered territory right now - the stock market will be a mess, even collapse before this month is through...subprime and banks are in serious trouble...so in a sense, people are just starting to realize this is just the beginning.

HP is needed more than ever.

Paul E. Math said...

No, your work here is not done. Not until the NAR is completely disbanded or radically reformed. Not until Orangelo rests safely behind bars. Not until the streets are once again safe for an honest, hard-working family to purchase a quality home at a reasonable price.

Andrew from Russia said...

Nearly.

The bubble is global and it keeps inflating elsewhere. Time to chase it abroad with a pack of needles (as well as protective goggles - everyone knows the material is toxic).

Anonymous said...

"So, is our work here nearly done?"

No, because all of your premises are false.

Duh.

Natural Eyebrows said...

Keith, you have maintained a manic pace for several years now. If you're getting tired, nobody can blame you.

Watching this over-expansion in its denouement will be interesting, and we are entering the phase in which the public policy implications of all that has gone wrong will be discussed. So yes, there is more to do.

Mark in San Diego said...

Keith, you should summarize your web site and write a book. . .was at Borders yesterday looking for any sign of a book called, "Housing Bubble the Greatest Ponzi Game" but no signs of ANY housing crash books. . .seems like a quick book and a booking on the talk show circuit would be a slam dunk!

Keep blogging - the focus probably should be on the decline of the US dollar and economy - I really think Bush and Co. would like Mexico to be the model for the USA - a small group of wealthy landed Europeans ruling a large group of impoverished consumers. . .

teeter totter said...

Yeah, keep up the good work. Hillary's DHS director will reserve special cells for all of you disloyal, trouble-making bloggers in the newly-expanded GitMo tropical resort complex.

Tanker said...

Hell, no! The housing collapse is just getting underway. We have at least another year before it bottoms out.

Besides, we have a severe and protracted recession on the way. Of course this can't be seen by the people who didn't see the stock market bubble and the housing bubble. They are trying to reinflate the stock market bubble now. We are beginning to hear arguments from Wall Street pundits that there is justification for mutiple expansion. Sound familiar? They used to use the line "profits don't matter anymore."

"A new paradigm!"
"Things are different this time!"
"Fundamentals don't matter anymore!"

They just don't learn.

Anonymous said...

Where are the price discounts? 5% off a $700K 3/2 is not much of a victory.

edd said...

In our cesspool of ignorance and
scams, traps remain in the present
bubble (good time to buy ?),
and the related aftermath.
(poor construction, REO scams; preforeclosure 'help', evasion
of prosecution, and anything that
can be corrupted will be until
enough peons risk their butts)

Those yet uninformed need a ready summary of bubble history and
dynamics, and housing finance.

An evolving link digest on related issues would be a great help.

Jambu said...

Oh no Keith your job is not done. I derive hours of entertainment reading your nonsense every week. And more so the comments from your mindless followers.

Please do not stop.

Anonymous said...

It would be very sad to have seen you on the opposite side of the currency exchange, meaning you spent your dollars when the Dollar was weak, i.e. byeing burgers for 20 bucks.
And returning home now when Dollar begins its ascent would not be smart, even though a strong dollar will not save what’s about to occur to the EU economy.
The US House price adjustment is well underway; it would be cool to watch the housing meltdown across the Atlantic.
So, Keith, HP will still be relevant as a place to counter the BBC.

ApleAnee said...

As long as everything our government tells us is a lie or a distortion to suit a political agenda, there is a need for someplace to go and get the truth.

This blog isn't just about real estate. It is about relief for those who want the truth and get tired of the endless spin of the fads and mania of the masses. This blog is about truth telling. The truth never goes away.

Keyser Soze said...

We're in the 2nd inning of game 1 of a 7 game series. Gawd, I hate baseball analogies.

Anonymous said...

Anonymous said...
It would be very sad to have seen you on the opposite side of the currency exchange, meaning you spent your dollars when the Dollar was weak, i.e. byeing burgers for 20 bucks.
And returning home now when Dollar begins its ascent would not be smart, even though a strong dollar will not save what’s about to occur to the EU economy.
The US House price adjustment is well underway; it would be cool to watch the housing meltdown across the Atlantic.
So, Keith, HP will still be relevant as a place to counter the BBC.

On what premise is the dollar going to rise? Do you really think inflation by the EU is going to save the dollar? The only thing that will have a meaningful effect on strenghtening the dollar will be if the Fed raises rates like Paul Volcker did after our last bout with stagflation. What do you think that will do to the U.S. economy and stock market? We are witnessing the greatest pump & dump of all time performed by the Fed, Paulson, Goldman Sachs and whoever else is plugged in at the top. Do you think it was a coincedence that the uptick rule was changed at the same time we are going to have record financial problems in the U.S.? Think about it, Goldman shorted everything related to subprime that they could get their hands on over the summer, and there was nothing to limit the short sales because the uptick rule was changed. They cover all their short positions right before Hank gives them the tip that the Fed is going to surprise the markets with the emergency rate cut in August. I believe this was done deliberately to force a short squeeze and prop up the markets. Then surprise surprise, another half point cut on the discount window and a half point instead of a quarter on the Fed funds rate in September. I am guesssing that Goldman was long for that one too. Keith, your blog is a great forum for discussing all of these things as well as raising awareness to how manipulated and corrupt our government is and I would be very upset if you shut it down. Admit it Keith, you would go through withdrawl just like the rest of us.

Lost Cause said...

We still have the dancing mortgage ads.

Filmo said...

It's not over until the TV networks stop introducing new 'flipping' shows and the old ones lose ratings.

There are at least 3 new real-estate oriented shows coming this fall plus renewals of the currently running, Flip This House, Flip THAT House, Property Ladder, and the new bravo hit Flipping Out.

Shakster said...

Yes for the most part,but we still have bets to place(Pheonix,Florida?),Popcorn to buy,a record of the incompetancy of the MSM to keep(or direct involvement),and dropping prices to keep track of.Of course,Dopes will need remedial work for the foreseeable future.

Anonymous said...

Keith, you are my oasis of sanity (and great laughs) in this crazy world. Please keep on bloggin. You are awesome!

Frank@NeverColdCall.com said...

We must continue.

I encounter plenty of ignorant people who think you're supposed to buy a house and it's a "good investment" and renting is "throwing money away" despite the fact that only a monkey - and a really dumb one at that - would buy a house right now.

Here in So Cal people seem to mostly understand that it's a BAD time to buy and that I'm smart for renting but when I talk to friends & family in places like Arizona and NJ they still can't understand why I won't buy ... lol

Anonymous said...

You want answers?

There is a need for someplace to go and get the truth...

YOU CAN'T HANDLE THE TRUTH!"

ApleAnee said...

Anonymous said...

You want answers?

There is a need for someplace to go and get the truth...

YOU CAN'T HANDLE THE TRUTH!"

How do you know what I can and can't handle? Apparently you are a Jack Nicholson fan. The line was really good in the movie. You aren't Jack Nicholson.

Anonymous said...

oh HELL no you're not done Keith.

Not until you go so mainstream that you are in a position to help foster change.

I can see it now...

'HousingPANIC the world according to Keith' Friday nights on FOX.

Oh...I only chose FOX because that's where the sheeple can be best reached.

Til the bitter end Keith!

a.creampuff said...

I thought your work was done when MSM articles started popping up on the housing decline. It was all over the Sunday Washington Post, for instance. Great humor article - writer goes to several open houses; pretty much says it all.
Still, I think we're all watching to see how things unfold, and what better place to watch than HP?

DaveO said...

"WE've made progress but we have a long way to go Keith. Keep blogging until Greg Swan is serving fries at McDonalds and Tangelo is in his cell"

..and Casey Serin is in his cell as well!

Anonymous said...

ICEMAN FROM RIVERSIDE:

HMMM!!! THE DOLLAR IS TANKING, HOUSING IS CRASHING. FINANCIAL JOBS AND CONSTRUCTION JOBS ARE CONTRACTING, BANKS AND MORTGAGE LENDERS ARE FAILING WORLDWIDE, AND A CREDIT CRUNCH IS UNDERWAY.
NOW IMAGINE IF ALL OF THIS NEWS WAS ON THE FRONT PAGE OF THE NEWSPAPERS AND NIGHTLY NEWS THIS WEEK, HOW WOULD THE AVERAGE AMERICAN REACT TO THIS ROSEY PICTURE. I REALLY WONDER WHAT TRUE INVESTORS FEEL ABOUT THE STOCK MARKET. IT DOESNT SOUND VERY BULLISH TO ME. BAD NEWS THE MARKET GOES UP, GOOD NEWS THE MARKET GOES UP (WHATS WRONG WITH THIS PICTURE).
MSNBC ANNOUNCED ON FRIDAY THAT A LONG TERM INVESTOR IS ONE WHO IS IN THE MARKET FOR GET THIS "1 WEEK OR LONGER". WELL LETS JUST THROW ALL THE FUNDAMENTALS OUT THE WINDOW
AND RIDE THIS BABY ALL THE WAY UP!

DOW 20,000 HERE WE COME!

HOMEBUILDERS ARE A STEAL AT THIS PRICE IF YOU BELIEVE IN THE MARKET PUT YOUR MONEY WHERE YOUR MOUTH IS.
IF YOU BELIEVE IN THE CONSUMER BUY
THE RETAIL SECTOR. IF YOU BELIEVE IN THE DOLLAR STAY AWAY FROM GOLD.

2 YEARS AGO I HEARD PEOPLE TELL ME ALL THE TIME HOW HOUSING WOULD NEVER GO DOWN AND NOW WHAT. I AM STARTING TO HEAR MANY PEOPLE CHEERLEAD THE STOCKMARKET NOW.

KEEP IT UP KEITH YOUR DOING A GREAT JOB. SOME IDIOTS WILL NEVER GET IT.

concerned said...

Keith,

Your work here is just getting started.

Anonymous said...

We are on the edge of the precipice, the top of the roller coaster, where that chain stops klanking, and and we quietly gently crest the top and look down the track.

HOLD ON!!!!!!!!

Keith, You have plenty to do.

Rhymes with Shunt said...

"So, is our work here nearly done?"
-------------
No! To plagerize Patric Henry...

I have not yet begun to gloat.

JimAtLaw said...

We have so, so very far yet to fall - housing prices here in SoCal tripled over a few years and have only fallen a few points so far. The drop to date has really just been the teaser on this deal, the hard part comes next.

Your work is far from done, so if we may ask, keep up the good work Keith.

bryce in canada (Vncvr&Clgry bubbls) said...

No, not by a longshot, Keith.

There will be lots and lots of developments as this thing gets worse and worse, resulting in more and more lies from govt and media and advertising, thus necessitating gobs and gobs of straight-up blunt truths and dismantlings from HP.

And..... for variety, within 2 or 3 years (maybe even sooner), you will have Vancouver,BC, Canada and England to make fun of....

....Followed rapidly by Calgary, AB, Canada and Edmonton, AB, Canada.

Over??? Hell, you have more to do than ever before.

((I can appreciate that you may be fatigued. If you need to slow down your pace a bit, by all means do so. But you are an important person and this is an important blog)).