"Yeah yeah yeah. End of the world. Great depression 2. Blah blah blah. Where have I heard all this before...oh yeah on HP for the last 3 years. Keep renting your shithole 1 bed 1 bath and driving the 20 year old Hondas"
- Anon HP Troll, February 2008
February 24, 2008
HousingPANIC Quote of the Day
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This amuses me because these trolls were discredited a long time ago. Everyone knows this is some loser, bald, impotent homedebtor who is furious that he is broke at the end of every month after paying the mortgage, taxes, insurance, and upkeep on his shi*thole house that he overpaid for in 2005, and is forced to drive a 20-year old Honda because that's all he can afford after mailing his debt payment to the mortgage company.
Beats being an FB who cannot pay the utilities and maintenance for their new McMansion that was made w/ shoddy materials and poor quality unskilled illegal laborers; who's got there HELOC beemer out for sale on their overgrown front lawn and who's toxic loan payments just jumped to the stratosphere due to the rate reset and the rising property taxes, while simultaneously their faux property value/equity has been erased with all the foreclosures around them and their precious debt as wealth HELOC to be taken away!!
As for this HPer:
I own my car outright and its a 2006 model, MSRP 34k.
I rent a 2 bed 2 & 1/2 bath 1800 sq ft townhome in metro DC for ~1k less/month than what it would take to "own" and I have ZERO maintenance & upkeep. The VA state legislature recently opted to under fund school teacher salaries forcing localities to pick up the tab via property tax hikes. I will not be seeing that in my rent as I have a 2 year lease and the rental market here is flat due to all the fliptards turned flop lords!!!
Oh, I obtain my own fair share of tax breaks by fully funding my 401k (15k a year) my IRA (4k in 07, 5k in 08).
I keep my cash working for me in various investments that have an Rate of return that exceeds inflation.
Good luck J@ckA$$ anon trolls, your going to need it. 07 was just a prelude, the next few years will be main event and I doubt you will have a pot to pi$$ in by the time its all over.
Dad is that you?
.... Take your meds and get back in bed...
Hondas last 20 years? No way. Subarus, yes, Hondas....I don't think so.
does he have to be bald?
What's wrong with driving a 20 year old Honda? One of the best cars I ever had was a Honda Civic hatchback. I miss that car!
Some people still just don't get it do they? You are broke buddy, and I'm not. You have debt up the butt and I don't. I paid cash for my now 9 year old car (that runs and looks great), when is the last time YOU paid cash for anything?
Idiots.
Watch the language. Some HPers are bald too.
Anonymous said...
Keep renting your shithole 1 bed 1 bath and driving the 20 year old Hondas"
It's DOPES.
We won't need to rent once we get their homes at 40% less than they bought them for after they lose them to foreclosure. Then that 20-year-old Honda will have more than paid for itself. Unlike their fire-sale house.
Then that balding middle-aged former homedebtor will have to go to strip clubs to get attention of any kind from women. Ladies aren't too interested in a relationship with a bankrupt guy living in a tent city.
Not a suave, debonair Arizonan from a trendy place like Scottsdale?
Everyone knows only the smartest winning people with hair live in Scottsdale. They all are successful business owners making $200K per year that own their own homes and drive fancy expensive cars...
It produces stellar war heroes and ploitical giants like John McShitstain... Must be the water.
Isn't computer fantasy great?
I hope he has fun heading back to mom's basement when the sheriff drags him out of his house by his hair.What a loser.at least hp'ers are frugal and can sve a buck.
It seems these kinds trolls peaked when the liquidity crisis was about to explode. And then as things get very bad and the MSM recognized it -- oh, and by the way, they're gonna get a lot worse -- they stopped their rants in left the blogs, in shame and thoroughly discredited for all to see.
You know what, I hate to admit it but this guy will get bailed out by the federal government. While people like us who saved, were frugal, made wise decisions, etc.... will be left holding the bill for a party that we never attended.
First of all it's a Toyota. Second of all, our 1bd/1ba is not a shithole. My family loves it.
I rent a 1 bedroom 1 bath LUXURY condo. For about half of what it would cost to buy the place. :-)
Oh, and I don't have a 20 year old Honda. I have a 3 year old Nissan 350z. Paid for of course. :-D
Enjoy the ride down dumbass, over-extended mortgage debtor.
My Suzanne, aren't we touchy today!
Here we go again.
Troll assumes everyone who rents is living like a pauper. Then the HPers assume the troll is living in a McMansion and drives an H2.
Two sides of the same coin.
Just like some renters live decent lives, some people who own live decent lives. I always get a kick out of all you supposedly sophisticated great thinkers assuming EVERYONE who owns a house must be an FB 30 about to foreclose.
As for driving the 20 year Honda, whatever. That is really nothing to be all that proud of. The savings in driving a 20 year old car vs. driving a 5 year old car are minimal at best. A car loses 75% of its value by the time it hits 5 or 6 years old. You really aren't saving money buying a 6 year old vs. a 16 year old car. The yearly depreciation is about the same, close to $0 yet you are driving something old for no reason. Factor in repair costs that increase exponentially the older a car gets and it makes it that much worse.
Thanks, troll, for reminding us that everybody had ample time to get a warning if they just looked for it.
a large portion of the population that rents does so because that's all they can afford - but this housing market has pushed smart people out of buying and created a new kind of renter that has cash and no problem waiting it out. If our job markets dry up or home values fall and no ones buying - we can just pick up and move to where things are better
I rent a two bed and 2 bath, living room, dining room, laundry room duplex with a lawn in a great part of Los Angeles. Tons of bars, restaurants, etc. within walking distance. I own my 2003 Volvo S60. I have 100,000 saved, zero debt, various investments, and make 160,000+ a year. It would cost me at least 2 and a half times more a month to buy in my 'hood. So yeah, I will keep renting. And traveling. And eating out when I want. And buying anything I want with cash. And I will enjoy it. Until all the houses and condos keep falling and then I can swoop in and get what I want. Thanks for buying sucker!
Ed said...
Here we go again.
Troll assumes everyone who rents is living like a pauper. Then the HPers assume the troll is living in a McMansion and drives an H2.
Two sides of the same coin.
Just like some renters live decent lives, some people who own live decent lives. I always get a kick out of all you supposedly sophisticated great thinkers assuming EVERYONE who owns a house must be an FB 30 about to foreclose.
As for driving the 20 year Honda, whatever. That is really nothing to be all that proud of. The savings in driving a 20 year old car vs. driving a 5 year old car are minimal at best. A car loses 75% of its value by the time it hits 5 or 6 years old. You really aren't saving money buying a 6 year old vs. a 16 year old car. The yearly depreciation is about the same, close to $0 yet you are driving something old for no reason. Factor in repair costs that increase exponentially the older a car gets and it makes it that much worse.
February 25, 2008 7:57 PM
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Ed, Yep basically you are correct. I am vexed about the 20 year old honda, because they are such a quality car thats expected. Maybe the FB should have said something like a 20 year old dodge K-car or something. A relic from a previous era of gov't bailouts.
FYI - most auto makers have a 15-20 year retention/build of parts for a car from its last model year.
"I rent a 1 bedroom 1 bath LUXURY condo. For about half of what it would cost to buy the place. :-)"
HA HA. You fool, there is no such thing as a "luxury" 1 bedroom apartment. "Luxury" is just a BS word being used by landlords and builders to get Sheeple like yourself to over-pay.
Most of you live in 1 bedroom apartments and are bitter! I own a house and am not facing foreclosure. In fact, I am in the process of buying a second house so that I can rent to silly bubble sitters like yourself. I am going to buy the most run down house I can find because I don't want to buy a nice house and have it trashed by a bunch of renters.
Good day!
"Most of you live in 1 bedroom apartments and are bitter!"
Sorry, two bedrooms, one for the bed and the other for the office.
Guess what, 1/3 of the rent is correctly deducted for business on a rent which is 40% the equivalent mortgage plus taxes/condo fees. (Hint: I'm taking a business deduction for renting, and I thought only owner took deductions).
Anonymous said...
"I rent a 1 bedroom 1 bath LUXURY condo. For about half of what it would cost to buy the place. :-)"
HA HA. You fool, there is no such thing as a "luxury" 1 bedroom apartment. "Luxury" is just a BS word being used by landlords and builders to get Sheeple like yourself to over-pay.
Most of you live in 1 bedroom apartments and are bitter! I own a house and am not facing foreclosure. In fact, I am in the process of buying a second house so that I can rent to silly bubble sitters like yourself. I am going to buy the most run down house I can find because I don't want to buy a nice house and have it trashed by a bunch of renters.
Good day!
February 25, 2008 10:34 PM
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I guess they'll be at leasat one, namely the one you'll be advertising as your luxury rental property soon.
FYI - I highly recommend you decide to either purchase a decent rental property that would be attractive to cash rich HPers OR buy a cr@phole and rent it to FB RE bubble burst foreclosure refugees. But of course you'll be pounding on the door every month for the rent & pouring tons of cash into fixing/cleaning the place, paying court fees, constable costs etc etc. So I'd go w/ a "bitter" bubble sitting renter, who's cash rich and responsible. But of course all HPer's know you're just a bitter FB vomiting diarreha as you go down w/ your toxic loan.
dumb@$$
anonymous said "HA HA. You fool, there is no such thing as a "luxury" 1 bedroom apartment. "Luxury" is just a BS word being used by landlords and builders to get Sheeple like yourself to over-pay".
Take your underpants of your head and
and get back into bed grandpa or nurse will spank you again and we all know what happened last time
I own a 1990 Honda Accord. I never have a problem with it, and in the past 4 years, have put $601 into maintaining it. Plus change.
I think it'll last another two years.
Hmmm...sold at peak for a bundle, my rent is only $950 for an oceanfront luxurious condo, and I drive a paid for 10 year old Acura, while stashing away $4k per month, totally debt free. I must be doing something terribly wrong, so thanks for the heads up, bankrupt-debt slave dude.
He forgot to add that we masturbate, like the booze and spank the ladies.
HA HA. You fool, there is no such thing as a "luxury" 1 bedroom apartment. "Luxury" is just a BS word being used by landlords and builders to get Sheeple like yourself to over-pay.
You don't travel much, huh? I rent one of those luxury one bedrooms, loft style, 1,000 sq ft. My luxurious oceanfront condo has full gym on the penthouse with wrap around ocean view, heated pool, sauna, tennis courts, concierge, valet parking, library, French restaurant, beauty salon, convenience store, jacuzzi, beach cabanas, cabana boy, and a nice private beach in front. And the kicker is that the rent costs me only 1/5 of what would cost me to buy.
Just because you're one of those f*cked homedebtors up to your eyeballs in debt, who commutes 3 hours each way to your hamster job and live in a pathetic suburb in the boonies, don't assume that everyone else is as stupid as you. There's something called "Value", you know.
Just another ramen-eating six-percenter bankrupt realthwhore who drops in from time to time to rant his/her frustrations.
They usually go away once the sheriff take the financed computer and the cable/phone company cuts the service. If you hang out long enough here on HP, you're able to spot the pattern.
Man, doesn't just feel good to see all these realthwhores and homedebtors getting f*cked? Not only that, job recruiters are boycotting these fools, so good luck trying to find a decent job with the credit shot. Luve it, luve it, luve it...die scum!
The bad things is many of the new renters these day are the people who just foreclosed on their home.
Since rent are still high in cities with high wages, many of these new renters with damage credit are the one who are renting those one bed room apartments and driving the 20-year old Honda.
Many of the high end renters are the one who sold at the top, but many of these renters got in when rent was just starting to climb so many of these renters were able to see the trend and locked in on a long term lease.
Buy the time their lease are up many of the layoffs will begin and the rent and house price should fall again.
At which point the Fed Fund rate will be at the lowest, and some of these who sold at the top will jump back into the housing market, while other will hold out for the best time of the housing cycle which is during the first phase of the housing recovery.
"The savings in driving a 20 year old car vs. driving a 5 year old car are minimal at best. The yearly depreciation is about the same, Factor in repair costs that increase exponentially the older a car gets and it makes it that much worse."
Not true. If you are mechanically capable, repair costs are minimal. I drive a 1986 Camry that runs great. The engine and transmission are tight. If those major components should fail, I would replace the car with a newer used car and start all over. It has 190,000 miles on it. A guy at a gas station wanted to know if I wanted to sell it. His brother is driving the same model with over 300k on his. It passes smog with flying colors. Depreciation is irrelevant. What is relevant is that I have minimal resources committed to moving my butt around town.
Most likely with interest rate climbing back up, some home owners who brought prior to 1998 are getting greedy and are planning to take equity out of their homes to buy their second house.
This patterned worked during the last housing cycle so why shouldn't it work during this new housing cycle.
Just a hint don't go after the foreclosure, most of the current deals are not with the foreclosure, but with the REO.
The best REO deals are for the few who are connected to the banks.
Most likely the good real estate agents who have been giving allot of businesses to the bankers in the past are the people who will get these good deals.
Why not those good real estate agent are hurting now, so why not return a favorite.
If you look at some of the house that was recently brought for 40% below market valve then see those same houses get turned around in two to three month for resell those houses are most likely the recent good REO deals.
However, most homeowners are not connected and will find that credit is tight, and most foreclosed homes are still priced to high to rent out during a normal or low rent cycle.
But then again there are those home owners who have not been through several housing cycles and want to take the risk of jumping in now.
Typically this pattern is what caused the first traditional spike in housing price during the housing slump cycle or commonly know as the false rally.
Hey,
Where can I find a 20 year old Honda?
Damn truck is bleeding me dry!
"The savings in driving a 20 year old car vs. driving a 5 year old car are minimal at best. The yearly depreciation is about the same, Factor in repair costs that increase exponentially the older a car gets and it makes it that much worse."
Not true. If you are mechanically capable......
and in America, that would be???????
"FYI - I highly recommend you decide to either purchase a decent rental property that would be attractive to cash rich HPers OR buy a cr@phole and rent it to FB RE bubble burst foreclosure refugees. But of course you'll be pounding on the door every month for the rent & pouring tons of cash into fixing/cleaning the place, paying court fees, constable costs etc etc. So I'd go w/ a "bitter" bubble sitting renter, who's cash rich and responsible. But of course all HPer's know you're just a bitter FB vomiting diarreha as you go down w/ your toxic loan."
You fool, I have a 30 year fixed. No toxic loan for me. I am smarter than all of you HPers.
And I don't drive 3 hours to work. I live directly across the Hudson River from Manhattan! Rents in my area are up 5%.
Anonymous said...
"FYI - I highly recommend you decide to either purchase a decent rental property that would be attractive to cash rich HPers OR buy a cr@phole and rent it to FB RE bubble burst foreclosure refugees. But of course you'll be pounding on the door every month for the rent & pouring tons of cash into fixing/cleaning the place, paying court fees, constable costs etc etc. So I'd go w/ a "bitter" bubble sitting renter, who's cash rich and responsible. But of course all HPer's know you're just a bitter FB vomiting diarreha as you go down w/ your toxic loan."
You fool, I have a 30 year fixed. No toxic loan for me. I am smarter than all of you HPers.
And I don't drive 3 hours to work. I live directly across the Hudson River from Manhattan! Rents in my area are up 5%.
February 26, 2008 11:23 PM
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You Dumb@$$ I live in NoVA, bike to work, rents are flat and trending downward, sold my condo at a 200% profit, paid off all my debts, fully funded my retirement and banked the rest. My LL has owned the place for over 2 decades, has poured tens of thousands of dollars into the property, plans on leaving to her kids, and is kicking herself for not selling at peak because she was emotionally attached to it because she raised her family in it. Fortunately she did not HELOC ATM it and just has a few more years to go before its paid off and will then sell it to fund her retirement after the market has stablized. I might buy it from her then when its at its fundamental value.
I make no assertions about whether or not I am smarter than anyone, but I've done what I've done so I can sleep easy at night, I suggest you do the same.
What's cracking me up about the whole old car conversation is that Frank assumes everyone with a reliable inexpensive older vehicle must be lying about the costs. Why would they? It's not exactly a status symbol like a shiny new gas guzzling SUV.
Frank and a few others like him can't seem to grasp any concept that differs from their own experiences. It's a great big world out there gentlemen, and all kinds of things are happening that you haven't seen and don't know anything about.
"Not true. If you are mechanically capable......
and in America, that would be???????"
Your comment makes no sense
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