January 09, 2008

HousingPANIC Stupid Question of the Day


Getting scared yet?


88 comments:

Anonymous said...

Nope. People are just becoming aware of the problem here in Wisconsin. The MSM tells them it is confined to a few states like California & Florida.

Anonymous said...

Keith, your blog has scared me for a long time.

Yes, I'm scared.

I'm renting in OC, California. I have some savings and a good job (for now). I'm just worried that the economic crash will lead to unemployment, so I'm trying to save money like a mo-fo. I just don't know what to do about 401K and mutual funds I own. These money managers coax you in, but never tell you when to get the f out!

Princess Mononoke said...

*
*
*
Oh my Gawd!!! That photo has me Totally RLMAO!

Anonymous said...

And the PPT steps in for the save.

Anonymous said...

Let the GOOD TIMES Roll!

J6P, you are doomed, but too stupid to realize it.

Add up your equity and I'll give you 2 cents on the dollar...

BAAAAAAAAAAA BAAAAAAAAA BAAAAAAA...

Batman said...

re:PPT save. I can't believe how systematic those 2 pm bounces are. It must be like a bell goes of if you're working on the floor there. You could set your watch by it.

devestment said...

I am enjoying the denial and making money all the way down.

Anonymous said...

nasdaq up 1% today

fed about to cut huge

recession here already and nothing we haven't seen before

scared? fuck no, I'm excited that when you fools are stuffing mattresses with $900 gold, I'm buying stocks on the cheap

2 years from now gold will be $200 and my stocks will be sky high

Anonymous said...

Hey, you had a Jim Cramer-esque roller coaster graph a while ago that shows the stages of what we'll go through (fear, panic, etc.) during the housing free fall. I'd love to see that again and see what phase you think we're in!

Idiots... said...

Anonymous 9:01 said - 2 years from now gold will be $200 and my stocks will be sky high

Didn't you say that last year? And the year before? And the year before that? My AU/AG up 132%. What's your stock portfolio look like? You like that 1% you got back today - right? Just another 40 to go before you break even...

Anonymous said...

Didn't you say that last year? And the year before? And the year before that? My AU/AG up 132%. What's your stock portfolio look like? You like that 1% you got back today - right? Just another 40 to go before you break even...

January 09, 2008 9:15 PM

---

Quite the opposite. I owned gold until recently, silver too. I also owned several houses and sold them before the dive. I also made a shitload in the .com era and got out (more luck than anything else) in time.

If you think somehow this gold bubble is any different you are one dumb fuck.

My stock portfolio was liquidated last May. I've been 65% cash and the other 35% in a mixture of gold/silver/SRS and various shorts since. Again did very well.

I have been buying up tech like crazy this week as the market is way oversold. Today's 1% uptick is the start. I'm looking for another 5-7% move up by the end of January which by the way is almost always a good month, whether a bull or bear market.

Anyone can follow the herd. Knowing when the herd is about to go off the cliff is key. You my friend are just about to fall and fall hard with gold.

Amtex said...

5-7% move up in the next 3 weeks for the stock market? With all the horrible earnings reports coming out soon? I'll have to see that to believe it.

brokersleaveyoubroke said...

Anonymous said...
nasdaq up 1% today

So? That means it's down about 9% since the beginning of the year. What's your point? Where were you every other day this year when stocks were down? Oh, I forgot, you're the guy who only buys stock on the days it's going to go up.

fallingdown said...

"I thought this worked like aladdin's magic carrrrrrrpet!??!"

Anonymous said...

all the bad news is out already. recession check. gajillions lost by banks check. CFC about to go belly up check.

stocks go down on rumor and unknowns.

there are no more rumors and unknowns any more.

that's when you buy

Anonymous said...

"So? That means it's down about 9% since the beginning of the year. What's your point? Where were you every other day this year when stocks were down? Oh, I forgot, you're the guy who only buys stock on the days it's going to go up."

well someone does otherwise it would never stop going down wise ass.

i bought yesterday too

Anonymous said...

Bush has everything under control so I'm not worried.

Anonymous said...

Don't know if you could do it because of copyright concerns, but Mad magazines "What me worry" would be perfect for in denial realtors and homedebtors.

Idiots... said...

All you stock lovers - here's a tip. Everything moves in cycles - don't take my word for it - go back to historical charts and check. Cycles run from 10-20 years. Now look at stocks '49-'66, '66-'82, '82-2000, '00...

Gold runs counter cycle to stocks. Stocks have another 3-13 years of flat to down. Gold has another 3-13 of bull - the bubble doesn't come until the last 2 - when everyone owns gold. I've owned AU/AG since 2001. Even though I talk to my family, friends, etc - I know of not one single person besides liars on internet forums that own gold.

When the AU/AG cycle ends - that's when you load up on stocks. Not now - stocks are a sucker bet - but it's suckers like you idiots that keep hope alive that lets my hard assets keep chugging higher until you idiots finally admit you made a mistake and start buying gold hand over fist - that's the bubble. That's when I'll sell. That's when we see gold at NASDAQ 5000 levels. That's when you'll see someone predict gold at 10xDOW (here's another hint - when DOW gets to 2xAU - that's the time to buy stocks/sell AU). And that's when guys like me will be bailing.

George L said...

Scared?

Never!!!

having endure hard times as a child to the point of eating only one meal a day,it's hard for a recession to scare me.

I love the smell of Recession in the morning!

Mammoth said...

“Getting Scared Yet?”
----------------------------
No, but I AM getting pissed!

Within the past year:
Milk was $2.00/gallon;
now $3.50/gallon

Potatoes were $0.99/10 lbs;
now $2.99/10 lbs

Eggs were $0.99/dozen;
now $2.50/doz

Annual raises were handed out at work this week - while the price of food and everything else begins to skyrocket, all us peons here got a 3%.

It doesn’t matter whether a person here works their a$$ off or just surfs the Internet all day - we all received the same paltry raise.

So, what is the motivation for putting in a full day’s honest work, vs. just doing the minimum in order to keep from getting fired?

It’s like the saying goes: “Our employer pretends to pay us, and we pretend to work.”

-Mammoth

E_Rod said...

My co-workers are getting tired. One told me today... "Houses wont depreciate because they are a persons most valuable asset."

I looked at him with a dumbfounded look and ask, why?

His response, "Because they won’t."

I start getting into, Price/Income, Price/Rent and Percent Income. This is in the Bay Area where housing is historically more expensive coming in at a Price to Income of 4.5 on average. I point out that even after the recent losses we are still at 9x income.

He now has the dumbfounded look and responds with, "Well, more families have two incomes now, than they did 5 years ago."

I call bullshit. I explain that median household income has not even kept up with inflation over the last 5 years in this area, according to his logic, it should have doubled.

Now he's mad, he knows I have the data but won’t admit that he is wrong.

He says, "Ya well, I still say there wont be any correction," then storms off.

What the hell. I guess it’s hard to see the logic when you have some skin in the game. I just don’t get why he couldn’t even understand the basic concept that value could decrease because of supply and demand on his own. He is in his mid 30's, has a managerial position, and is pissed that some young buck fresh out of college is willing to call him on his shit.

Prediction: Bay Area corrects and I can pick up a house in the area at 4x income in Q$ 2012.

Amtex said...

All the bad news is out already? Not true at all. The major banks are reporting next week, that is sure to knock the market down.

NEW YORK (CNNMoney.com) -- Sometimes when it rains, it pours on Wall Street. And next week, forecasters are calling for a flood.

Beginning next Monday, Wall Street will most likely find itself drowning in a torrent of dreary earnings news from some of the nation's biggest banks, marking yet another grim milestone for the troubled financial sector.

"It's not going to be a pretty sight," said Frank Barkocy, director of research at the investment advisory firm Mendon Capital Advisors in New York, which owns shares of a number of large banks including Bank of America and Washington Mutual.

Of the five banks and brokers scheduled to report results next week, three are expected to post a fourth-quarter loss - Merrill Lynch (MER, Fortune 500), Citigroup (C, Fortune 500) and Washington Mutual (WM, Fortune 500). JPMorgan Chase (JPM, Fortune 500) and Wells Fargo (WFC, Fortune 500) are expected to report a decline in quarterly earnings.

smokester said...

"you told me it would be a gentle landing"

Anonymous said...

Devestment,
"I am enjoying the denial and making money all the way down."

HOW?

Share!Please.

Anonymous said...

NH Hand Count Results Show Vote Fraud
01-09-2008
Daily Paul




Below is a post from a Ron Paul supporter over at Daily Paul. The supporter posted the tally of votes for Ron Paul in the towns that were counted by hand. It shows a much different picture than the towns that used Diebold machines to tally votes. The vast majority of these towns that used paper ballots showed Dr. Paul receiving over 10% of the vote. The final overall results do not reflect what is shown here with the towns. Dr. Paul should have at the very least received 14% to 15% of the vote if not more if this was actually a fair election.

richmond is hand count 34% for Dr. Paul...100% reporting
lyman is hand count 28.7% for Dr. Paul...100% reporting
Orange is hand count 25% for Dr. Paul...100% reporting
Harts location is hand count 25% for Dr. Paul...100% reporting
wentworth is hand count 24% for Dr. Paul...100% reporting
goshen is hand count 17.68% for Dr. Paul...100% reporting
marlow is hand count 16.6% for Dr. Paul...100% reporting
cornish is hand count 14.8% for dr. Paul...100% reporting
Rumney is hand count 14.5% for Dr. Paul...100% reporting
croydon is hand count 14 % for Dr. Paul...100% reporting
dorchester is hand count 13.89% for Dr. Paul...100% reporting
effingham is hand count 13% for Dr. Paul...100% reporting
albany is hand count 12.9% for Dr. Paul...100% reporting
antrim is hand count 12% for Dr. Paul...100% reporting
south hampton is hand count 12% for Dr. Paul...100% reporting
sullivan is hand count 12.61% for Dr. Paul...100% reporting
troy is hand count 12.21% for Dr. Paul...100% reporting
mason is hand count 11.88% for Dr. Paul...100% reporting
newport is hand count 11.45% for Dr. Paul...100% reporting
charlstown is hand count 11.3% for Dr. Paul...100% reporting
Allenstown is hand count 11.16% for Dr. Paul...100% reporting
bristol is hand count 11% for Dr. Paul...100% reporting
warren is hand count 11% for Dr. Paul...100% reporting
Strafford is hand count 11% for Dr. Paul...100% reporting
washington is hand count 11.02% for Dr. Paul...100% reporting
lancaster is hand count 10.9% for Dr. Paul...100% reporting
springfield is hand count 10.6% for Dr.Paul...100% reporting
wilton is hand count 10.37% for Dr. Paul...100% reporting
Northfield is hand count 10.3% for Dr. Paul...100% reporting
mont vernon is hand count 10.25% for Dr. Paul...100% reporting

Anonymous said...

Anyone can follow the herd. Knowing when the herd is about to go off the cliff is key. You my friend are just about to fall and fall hard with gold.


So you claim the Fed will be cutting rates and gold will drop to $200? That just about blows up any credibility that you had if you had any at all. Oh yeah, we believe you made all the right choices since last spring with your great knowledge of economics. BWAHAHAHA

Anonymous said...


there are no more rumors and unknowns any more.

that's when you buy


If you say so, it must be true since you know everything about events that haven't happened yet.

Anonymous said...

stocks go down on rumor and unknowns.

there are no more rumors and unknowns any more.


So if CFC came clean, it would keep going up forever? BWAHAHAHA

realestate101 said...

Some really hypocritical individuals on this site. For the bears that ACTUALLY own a home: What are you gonna sell your house for when and if you have to? Are you gonna sell it for an "affordable" price that is going to be supported by 25% of median income or are you gonna try to get the most you can get for your house? Simple question, don't rant, just answer it as an adult. Don't call me a troll, a cheerleader, etc.....JUST ANSWER THE QUESTION!

Anonymous said...

I looked up zillow for my city and noticed the home values have dropped a little bit more. Some one had a "make me move" price of 1,700,000 for two months now its gone but the value per zillow is 1,077,000. Other homes in the same neighborhood have lost value just in the last week or so...

The homes prices around 450k-699k have dropped, but the higher priced one have.

No more wont jumbo loans for their "dream price"!

Anonymous said...

I'm getting so much wood from this financial panic that I can't be scared.

Anonymous said...

Oh yeah, the "herd" owns gold, everybody and their mother owns GLD and SLV and that's all anyone talks about anymore... can't take a cab ride without the cabbie yakkin' about how gold is goin to 3000... Sure sign of a top!

oh wait... that's not happening

hmmm...

CautiousInvestor said...

I disagree with the post that says Gold is in a bubble. Gold is far, far from a bubble because the mainstream folk have yet to buy in. Most mainstream folk are just NOW starting to realize that the housing bubble is truly here. Many are not yet effected by it and are spending away still. When jobs start to get cut and stocks go down below 12,000, that's when you'll see people get into gold. It will be the time the gold bubble will be forming. Right now is just too soon to anticipate a gold bubble.

Anonymous said...

Can someone please explain how to short a stock with my scottrade account.

Step by step please.


I know I must be a retard, I have only held individual stocks, mutual funds, ETF's, annuities, and defined pension.

Anonymous said...

"I owned gold until recently, silver too."

If you were really smart you would be investing in gold stocks/hui.

U got lucky in the past with your investments.

This time the monetary system itself is going to collapse. And clearly u dont understand it.

Sink all your paper dollars in the stock market, they will be worthless anyway in a few years.

Anonymous said...

.

That lil kid had to change her knickers as well!

.

Frank@Scottsdale-Sucks.com said...

But there were 3 people in Starbucks today so there's no crash ... lol

Frank@Scottsdale-Sucks.com said...

Today's Orange County Register has a column by some corrupt realtor claiming that 2008 will see a sudden turnaround and a return to rapid appreciation.

Scumbag.

Anonymous said...

Keep singing the bad news blues you idiot HP'ers. Several times I was suckered into buying gold, a gun and ammunition and canned food by these bad news bears. No more. I am optimistic that our nation will press forward and become even more prosperous. The U.S.A. is the engine of the entire world and the Fed, our government and other governments from around the world won't allow us to fall into a severe recession.

void_genesis said...

"there are no more...unknowns"

.....is that you Rummy?

Never mind our civilisation is about to slide down the oil depletion slope. The old rules won't apply anymore.

dutchtrader said...

Has anyone else here thought that maybe prices on things would drop? I mean if credit ceases up and everyone buys on credit doesn't that mean that things become cheaper?

BondsOfSteel said...

There is so much speculative talk about the Housing Panic... it's starting to sound familar. When everyone is shorting financials via options... and short (and super short) S&P 500 ETFs....

I wonder if it's time for a PanicPanic blog?

Anonymous said...

Video on the British housing bubble:

http://tinyurl.com/27xwm4
http://www.youtube.com/watch?v=iVLB9LfHXjU

mhrist said...

I have this hot hoe, and this other hot hoe. Both are going 4 me, who do I let? Maybe I can do both, but it is hard!

Marty

f'ed said...

glenn beck has a great interview with the head of the GAO about the coming crisis

http://youtube.com/watch?v=I-16u9x3tfE

Anonymous said...

dutchtrader:

good question. if there is hyperinflation that outweighs decrease in demand from less credit, prices would still go up in a mega stagflation situation.

Anonymous said...

"Anonymous said...
Keep singing the bad news blues you idiot HP'ers. Several times I was suckered into buying gold, a gun and ammunition and canned food by these bad news bears. No more. I am optimistic that our nation will press forward and become even more prosperous. The U.S.A. is the engine of the entire world and the Fed, our government and other governments from around the world won't allow us to fall into a severe recession.

January 10, 2008 6:47 AM"

Sure. AND

George Bush is smart and Dick Cheney is honest.

Anon, you are delusional. You will need your gun and ammo sooner than you think.

Carnap the great said...

To the gold dip-shits:

There are late night commercials on gold/silver investment, I take this as a good sign that is has become "mainstream".

Usually in these sorts of bubbles when you start to see late night commercials, the bubble is near peak.

Anonymous said...

You heard it here first a few days ago: Capital One and Citi will be the surprise failures that trigger the true panic. Capital One now heading for the ropes:

http://tinyurl.com/2m2laa

"Capital One Financial Corp. said early Thursday that its 2007 earnings will fall short of the company's previous expectations because of increased loan delinquencies and additional legal reserves in the fourth quarter."

Anonymous said...

CautiousInvestor said...

I disagree with the post that says Gold is in a bubble. Gold is far, far from a bubble because the mainstream folk have yet to buy in. Most mainstream folk are just NOW starting to realize that the housing bubble is truly here.

----

Just on Monday a friend I hadn't talked to in a while IMed me and asked me if I thought it was too late to get into gold. Dude is a brilliant engineer, but I doubt he knows what NYSE stands for.

It may not be the shoeshine boy moment, but it's close enough for me.

Every sign points to a major crash in gold. Plot the nasdaq 1998-2000 vs gold 2005-2007 and it's identical.

You guys sound like Davey Lereah circa 2005. House prices will go up forever right?

LauraVella said...

Anon said:" Oh yeah, the "herd" owns gold, everybody and their mother own GLD and SLV and that's all anyone talks about anymore... can't take a cab ride without the cabbie yakkin' about how gold is goin to 3000... Sure sign of a top!

oh wait... that's not happening

hmmm..."



Anon, in addition to what you mentioned, everyone has to be wearing and buying gold "as an investment".

When we start seeing people running to the local coin/gold/jewelry shops to sell their bent silverware and broken gold jewelry,fillings etc. that's when GOLD is in a bubble....

Agree, we have a very long way to go.

LauraVella said...

Anon said:"This time the monetary system itself is going to collapse. And clearly u dont understand it.

Sink all your paper dollars in the stock market, they will be worthless anyway in a few years."


Anon, I totally agree with you. They dont understand economics, and that the stock market has cycles - plunging stocks are just a buying opportunity to them....

Anonymous said...

"Can someone please explain how to short a stock with my scottrade account.

Step by step please.

I know I must be a retard, I have only held individual stocks, mutual funds, ETF's, annuities, and defined pension."



I'm in the same boat, and would like to also know how to sell short...

bobbyg said...

If you are not scared right now, you are either a liar or a fool.

Like many of you I have made a lot of money via contrarian plays (e.g., gold, foreign currencies, etc.) but when this mother of all credit bubbles completely unwinds, so will the future standard of living of all Americans.

It is easy to wallow is scheudenfrade because it is very uplifting to finally proven right and not merely cast off as a Cassandra. But I have a young daughter who will have to live in the rubble of this once vibrant nation. We will have revolution and change both enconomically and politically, but any student of history knows that any cataclysmic change is always accompanied by collateral damage to the innocent.

I predict we will see a great deal of homelessness and a lot of bulldozing of overbuilt suburban tract homes. There will be soup kitches and bread lines. This will be a Kondratieff winter.

You may profess to be brave now, but when the ugly times arrive, the entire nation will collectively mourn, winners and losers alike

Anonymous said...

Has anyone else here thought that maybe prices on things would drop? I mean if credit ceases up and everyone buys on credit doesn't that mean that things become cheaper?


The price of items normally bought on credit would drop. That means real estate, autos and other big ticket items. Business expenditures would also drop. Things like food and energy would not drop due to credit. Although people do use credit to pay for those things, most do it out of convenience, not necessity. We may be entering a period of malaise and stagflation like the 1970's. The stock market will drop and stay in a range for 10 years while the cost of living increases. This is where we squeeze out the inefficiencies of the market. This is how the free market is supposed to work. Many in Congress have other plans and think they can change nature.

smitty said...

"I didn't expect such a big drop, and I'm not talking about the one in my shorts!"

Anonymous said...

Devestment,
"I am enjoying the denial and making money all the way down."

HOW?

Share!Please.


Asset crashes and debit bubbles create opportunity for those with money.

Mammoth said...

realestate101 asked:

"For the bears that ACTUALLY own a home: What are you gonna sell your house for when and if you have to? Are you gonna sell it for an "affordable" price that is going to be supported by 25% of median income or are you gonna try to get the most you can get for your house?"
-----------------------
Sold my former home (kept it as a rental for the past 6 years) in October; I priced it $25K below what the next-door-neighbor's house sold for a year ago.

Got an offer after only 4 days, negotiated down $6k from the asking price of $290K (cheap for the Seattle area) and we closed less than a month after listing it.

So, yes - affordable pricing works wonders, even in the current market.

-Mammoth

Anonymous said...

dutch trader said, "Has anyone else here thought that maybe prices on things would drop? I mean if credit ceases up and everyone buys on credit doesn't that mean that things become cheaper?"

Prices on things will become relatively cheaper - specifically, houses. Prices on necessary consummables will be come more expensive - food, energy, etc.

Cash is king and gold is the ultimate cash.

Anonymous said...

Keith-

Did you show that girl in the photo a pic of Mozilo's tan? She looks terrified.

Ron said...

http://tinyurl.com/27qz77

ATLANTA - After three years showing houses in Atlanta's hilly suburbs, Dee McMahon is finished with real estate.

Yanking up her custom-made "For Sale" signs in her North Lake neighborhood rattled her ego, she admits. But when Ms. McMahon closed her final sale, a house in Snellville, Ga., in late November, the mother of two felt a swell of relief.

"Now I can finally get my own house back together," she says. "I'm nervous about the future, but I feel happy."

McMahon is one of thousands of real estate agents across the US wandering with mixed emotions and uncertain prospects through the debris of a real estate gold rush.

borkafatty said...

2 years from now gold will be $200 and my stocks will be sky high

------

I think your already High.

borkafatty said...

I wont sell my house..I'll live there for free if things get that bad till they kick me ..forcefully that is.

Anonymous said...

what do you know? a second up day

I still stand by my 5-7% up from Tuesday's close by the end of the month.

Anonymous said...

Alcoa had huge profits last year. Must be all those tinfoil hats purchased by HPers.

PS anyone know where I can get a cheap Y2K bumker?

Freaks.

Anonymous said...

2 years from now gold will be $200 and my stocks will be sky high
--------------------

TYPO CORRECTION:

gold will be $2000

Anonymous said...

I STOCKPILE FOOD AND WIND UP EATING TWICE AS MUCH AND THEN WHEN THE Y2K THING COMES AROUND IM LUCKY TO HAVE 2 CANS OF TUNA FISH READY FOR THE COLLAPSE???? GUESS IM JUST SURELY WEAK WILLED.........YOU?

hank paulson rules said...

Fear not - Goldman Sachs has contained the financial devastation to the bottom 97% of the world's population...

Anonymous said...

Guys, gold isn't where it's suppose to be.

It has little correlation to the (lack of) confidence in the NASDAQ 100 or S&P 500 but that of the global forex valuation and the USD vis-a-vis major trading partners (JPY, EUR, GBP).

Right now, there's been a ride up in the Euro and other hedging currencies (Aussie, Loonie) and as long as these countries and affiliated institutes use dollars to settle accounts, etc, the USD will be in a range bound territory which will also push gold into a similar territory until the next phase of the dollar bear market kicks in.

So I say, the next time gold drops below it's year(+) long moving average, start buying but not until then.

Anonymous said...

Zillow is finally catching up to reality in San Diego. My cousin bought a modest, older 3 bedroom in late '04 for $471,000. A month and a half ago Zillow had it valued at $517k, even though an investment property across the street with two houses on it wasn't selling for $485k after a recent foreclosure (dumb investor bought it for over $600,000 in late 2006 and lost it several months later...doh!).

Checked last night and Zillow now has cuz's house valued at $417,000 and the neighborhood is still dropping. $100k down from peak and $54k down from purchase price.

Ouch! Good thing I don't like my cousin.

Anonymous said...

so much for your death pool of countrywide KWEEFIE

5-7% up from Tuesday's close by end of the month

told you so, told you so

Anonymous said...

Uncle Ben is going through the US$ like Sherman went through Georgia. It's the scorched dollar policy. Burn, baby burn.

Anonymous said...


so much for your death pool of countrywide KWEEFIE

5-7% up from Tuesday's close by end of the month

told you so, told you so



CFC from $45 to $5 to $7 and all is well? Only in the mind of a real estate DOPE where negative cash flow is a good thing. IF BoA buys out CFC, it will only be because the CEO wants to hide the $6B in losses that was invested in CFC last year. LOL

Anonymous said...

"Checked last night and Zillow now has cuz's house valued at $417,000 and the neighborhood is still dropping. $100k down from peak and $54k down from purchase price.

Ouch! Good thing I don't like my cousin."

You dont like your cousin yet you spend your time looking up what his house is worth????....looooser alert!!!!!

Anonymous said...

so much for your death pool of countrywide KWEEFIE

5-7% up from Tuesday's close by end of the month


Erm, they're being bought out by BoA dumbass. Of course there's going to be a bounce in their stock price. This is not exactly a sign of health for a company.

Ed said...

"ATLANTA - After three years showing houses in Atlanta's hilly suburbs, Dee McMahon is finished with real estate."

I live in those hilly suburbs. Well done Dee. Now if you could tell your fellow Realtors to do the same that would be super. Every day I get some junk mail from a realtor telling me what a great time it is to buy.

Oh but Atlanta is different, I forgot. Never mind.

debtisslavery.blogspot.com

Anonymous said...

Once again, many morons here think that gold is an investment like stocks or land. It is not. Gold has been an inflation hedge ever since countries went off the gold standard. So for gold to crash, the US$ has to stabilize. That won't happen as long as The Fed keeps cutting rates and pumping liquidity into the system.

Anonymous said...

"You dont like your cousin yet you spend your time looking up what his house is worth????....looooser alert!!!!!"

You've got that backwards. The cousin would be the loser, right up there with blog trolls like you. Crawl back under your rapidly depreciating rock, Loser Troll.

Anonymous said...

.
.

realestate101 said...
Some really hypocritical individuals on this site. For the bears that ACTUALLY own a home: What are you gonna sell your house for when and if you have to? Are you gonna sell it for an "affordable" price that is going to be supported by 25% of median income or are you gonna try to get the most you can get for your house? Simple question, don't rant, just answer it as an adult. Don't call me a troll, a cheerleader, etc.....JUST ANSWER THE QUESTION!

-----------------------
.
O.K. I'll bite.

I'm a real HOME OWNER 100% equity, and have been posting on this site for years with the knowledge that the bubble would pop. Just did not know when or how, until the 2nd half of 2007. Also I'm a gold bug at heart and started buying gold right after the tech bubble burst. Lost money in tech due to secruities fraud and decided to tell wall-street to f*ck themselves and started buying physical american gold eagles. I purchased several hundred ounces under $300 that are now stored in a bank deposit box off shore.

What are you gonna sell your house for when and if you have to? I have no plans to ever sell, that's a problem I'll leave to my heirs. I as a skilled craftsman have remodled every room of the house just the way I like it. I live out in the country on several acres of land. If someone offered me three times its peak market value; I would reject the offer; as the house means more to me than money!!!

Do you consider me hypocritical? If yes, please explain.

Princess Mononoke said...

dutchtrader said...
>>>>Has anyone else here thought that maybe prices on things would drop? I mean if credit ceases up and everyone buys on credit doesn't that mean that things become cheaper?
January 10, 2008 7:15 AM

That would be ideal in an ideal world. However, each industry and company will have to increase their prices to make up for their losses/major decrease in demand. Just look at the example of the increase in staples that Mammoth gave -January 09, 2008 11:06 PM

The economic model shows the opposite effect, demand down/supply up equals downward pressure on price. This will cause more business' to close down.

or the alternative they could decrease production, but then that means more job losses and less consumption due to unemployment.

There are so many scenarios each not looking good right now.

Princess Mononoke said...

I need to be clear on my last comment: home prices are crashing and will continue to tank over the next two years!

Anonymous said...

"Crawl back under your rapidly depreciating rock, Loser Troll"

TROLL???? I happen to like this blog and have no depreciating rock to speak of. albeit public record, I Just think one is a insecure dork if he spends his free time poking his nose into his relatives affairs. Could be time better spent doing something productive. He (you) should be glad it's not your problem and get a life for god sakes.

Anonymous said...

BE AFRAID...

BE VERY AFRAID...

Anonymous said...

The Market is not crashing! Home buyers are beginning to reenter the housing market in response to lower home prices and continued moderate mortgage interest rates. If your in it for a long haul, you can't go wrong with the investment. while recent market improvements may be nearing the end of the housing decline, it should not yet be interpreted as a return to higher prices. Also keep in mind that these improvements have been fueled primarily by lower home prices suggesting that Right-Pricing! remains the key to successful home marketing. If you overprice, you'll just chase the market.

That's from realtor.com's
Market Conditions for Freehold, New Jersey

Reported by Randi Dickman , CRS, ABR, E-PRO Certified

She says no worries, I think, my eyes crossed trying to read that.

Chris in NC, sold in NJ in 06

Princess Mononoke said...

Home buyers are beginning to reenter the housing market in response to lower home prices and continued moderate mortgage interest rates.
=================
Unbelievable! Realtwhore.com

I have NEVER understood how the Mortgage Industry and Realtors could bold face lie to all of YOU about interest rates! It killed me to hear and see all the advertising bull$hit.

Then imagine what I had to go thru trying to explain this to my prospective clients after they have been brainwashed by the REIC!

Every time the FED reduces/cuts the discount rate and Fed Funds rate, short term interest rates also decrease. This BENefits the banks! HOWEVER, long term (30yr mortgage for instance) interest rates INCREASE -GO UP!

Amtex said...

Where is the anonymous who keeps saying 5-7% increase in the stock market by the from Tuesday until the end of January?

Considering there are some horrible earning reports coming out next week, that prediction may be in big trouble.

Anonymous said...

"so much for your death pool of countrywide KWEEFIE

5-7% up from Tuesday's close by end of the month"


Yep, it is only down to $6 from $44 in less than a year.

I doubled my $40 puts, and then again doubled my $25 puts last year. Way to go CFC!!!