So the NAR is endorsing housing as an investment. Does that come with a money-back guarantee?
Monkeys I tell ya. Monkeys.
February 26, 2008
Latest propaganda and spin from the monkey-run National Association of Ramen Eating Realtors
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37 comments:
"60% of the average homeowner's wealth comes from home equity"? Is that supposed to be a good thing? The average homeowner is broke. And that 60% of their equity is declining every month.
I know there are good realtors out there. But how can a good realtor support such a corrupt organization that manipulates the truth to mislead the people its membership supposedly serves?
What a bunch of whores.
The more you spend, the wealthier you get! Woo hoo!
Merrill Lynch says home values will FALL 25% over the next 24 months!!!!!!!!!!!!!
- 25%!!!! LOSS
Hey DOPES, did you here that?
So what does this mean? It means you better find a buyer for your over-priced home ASAP! (which you will not) but I hope you can!
Good Luck Americans!
Extra Credit: Just thank your local republicans and jew-fvck bush-co/cheney christian bible church cult members and GOP regime, NBC/FOX/CNN and military industrial complex slugs. The most dumbest, criminal and dangerous breed of humans on the planet. Seriously.
We don't need old school, aggressive, stupid, criminal war dogs running our country further in the ground then they all ready have. They ARE our biggest National Emergency Issue to date. Lets send them a message.
Their stupid and aggressive chilling deeds of mass deception, hatred, documented lies, bombing raids, wars, thefts and unprecedented discrimination, murders, violence, torture, rape, injuries, pain, suffering, reckless over-spending and treason are enough to bring forward A LIFE TIME OF CRIMINAL CHARGES to each US Government Official, agent, employee and/or associate that has committed these unthinkable crimes, thefts and chilling mass murders.
Impeachment is NOT ENOUGH!
Will WE THE PEOPLE let (OUR ELECTED LEADERS) these criminals who destroyed America off the hook for their lies, scams, murders, 9/11 cover-ups and illegal wars?
%*#%#!!~!! NO!!!!!
FOR THE LOVE OF GOD!! PLACE THESE ASSWIPES UNDER ARREST NOW!
PS: Some of the democrats will receive the same charges and are no different - other than the spelling of their party name.
Unbelievable gumption on the part of the NRA.
Remember when realtors said "It's different this time!"
Now its "Every market's different."
In six months it'll be "This depression we're in is Different this time cause housing's on the way up...buy now before you get priced out!"
The only reason 60% have their house as their greatest asset, is because they don't have jack shit to begin with, besides auto loans (or leases) and credit card debt. People that spend every nickle they make (plus some) aren't going to have any "assets" besides a house -- and unles they plan to walk away when they go upside-down, the mortgage is really a liability not an asset anyway. For the NAR to claim that buying a house is a step toward "wealth" surpasses almost all of their other aggregious lies.
I just threw up a little in my mouth from this.
I think your ramen reference together with Yun's ethnicity has a hint of racism...
it's "the average" and "long term investment" clauses that get them off the hook.
aside from the guarantee, the bigger problem is if you do have equity, and tap it, will someone else want to pay off that equity withdrawal. I certainly don't want to pay off someone else's buying splurge by covering his/her/their equity loans.
The Greatest Real Estate Agent in the World does not dis the NAR! If it was on TV, then it must be true, right?
Does any investment come with a money back guarantee?
But yeah, not an investment. A roof over your rump and that's it...period.
.
They promote themselves,
yet cover their collective ASSes at the same time!
.
I talked till I was blue in the face to my niece who is just dead set on buying a house. Her rent is 1k and any beater house will be around 2700 a month and prices are still going down, but dam the facts. It was unreal last night, I told my wife that this niece is stupid. She lives in Santa Rosa, ca and is driven to buy, never mind her husband owes 75000 on all kinds of toys and junk and they can't save a dime. What give s with todays youth?
This ad just sounds like a modification to radio spots they've been running here in SoCal. In the ad they claim that "on average, a home DOUBLES in value every 10 years". Of course, they add a disclaimer that the 10 year claim is based on "private NAR data".
Amazing no one has sued them for lying.
RE: So the NAR is endorsing housing as an investment.
An investment? YES.
A GOOD investment? NO!
In the last two years, over 10% of all home mortgages have become bigger than the value of the homes on which they are written. It can be safely assumed that this situation will worsen, foreclosures will increase dramatically and property values will erode even more.
Past Performance Does Not Guarantee Future Results.
In this case, we can be sure that real estate performance of the last two years will indeed guarantee its future results:
Down! Down! Down!
CRASH!!!
V.L.
Keith, this has been said before, unfortunately you refuse to be fair and act on it. Here it is again:
PLEASE STOP INSULTING THE MONKEYS. They are a fairly intelegent animal and don't deserve you're rediculous comparisons.
.
.
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I NEVER REALIZED THAT REAL ESTATE AGENTS WERE LICENSED TO GIVE INVESTMENT ADVICE...
DOPES!!!
WARNING INVESTMENT PRODUCTS - NOT FDIC INSURED - NO BANK GUARANTEE - MAY LOSE VALUE!!!
Disclaimer: Nothing published by REALTYWHORES should be considered personalized investment advice. Although our REALTYWHORES may answer your general customer service questions, they are not licensed under securities laws to address your particular investment situation. Please ask the Home Inspector or Appraiser. No communication by our REALTYWHORES to you should be deemed as personalized investment advice. We expressly ENCOURAGE our REALTYWHORES to have a financial sales interest (ownership stake if possible) in any home recommended to our readers and viewers. Any investments recommended by our REALTYWHORES should be purchased only after consulting with your friends that have recently bought homes and only after reviewing the prospectus or financial statements of the subprime lender we have encouraged you to use.
>> PLEASE STOP INSULTING THE MONKEYS. They are a fairly intelegent animal and don't deserve you're rediculous comparisons.
And they probably spell better than you do.
compassionate conservative greedy white males don't want to save the homeowners. real compassionate and christian of them
Where was the NAR back in the late 90s BEFORE the boom telling us to buy? Now they're telling us to buy as the rollercoaster is beginning to make its giant descent. A little late, don't you think? Nice try, NAR!
BTW, if you bought a house (at least in the DC area) in 1988 or 1989, your house DIDN'T come close to doubling in value even in nominal prices from 1989-1999. In real (inflation-adjusted) terms, it actually went DOWN. If you buy a house in the DC area now, I guarantee your house will not double over the next 10 years in real terms. It probably will be even negative in real terms.
Anyone contemplating buying a house should be thinking about why the NAR is now telling you to buy a house as an investment when the boom is now over and declining, instead of when you might have been able to profit from the mania if you had bought before 2001. They are not economic experts in the least; they're trying to get you to buy something just to make a commission, using PAST PERFORMANCE (i.e. the irrational run-up early this decade) as "evidence" that your "investment" will do well in the next 10 years or so. They are hurting and this commercial just reeks of desperation on their part.
Houses are PLACES TO LIVE, not INVESTMENTS!
Anon. 3:21 pm said:
"I think your ramen reference together with Yun's ethnicity has a hint of racism..."
Since when was eating ramen noodles limited to people of Yun's ethnicity? Maybe in your insular little world. Get a clue, Gomer.
For the NAR to claim that buying a house is a step toward "wealth" surpasses almost all of their other aggregious lies.
It isn't just the NAR. This myth has been perpetuated for years. Friends of mine use that phrase all the time. While I can try to explain to them that a house is just shelter, they are in proverbial la la land. It's a great investment they resoundingly yell!
Well, I am at my maximum level of cynicism right now after years of trying to warn them. I say f*ck 'em. Friends or not, they made their beds and now they have to lay in them.
I will just use my vast savings to pick up the pieces of their shattered lives at massive discounts once this debacle has run its course.
Anon February 26, 2008 2:01 PM:
You have no idea how gratifying it is to read some dribble that contains, "The most dumbest"...
Cracks me up every time!
I think your ramen reference together with Yun's ethnicity has a hint of racism...
the above anonymous post has a hint of stupidity.
"60% of the average homeowner's wealth comes from home equity."
... which means they're screwed six ways from Sunday!
Actually, if you hold on to your house for 10 years or more, put 20% down, and have a mortage you can afford, I don't disagree. . .as a former home owner (and rental property owner) I held for over 20 years, and made out fine. . .the key is ABLE TO AFFORD - don't buy above your ability to pay, and plan on staying put for 10 years or more. . . if you lowball lowball lowball right not (such as 20% below listing) you will likely be fine.
"60% of a homeowners wealth comes from equity"
home equity: -60k
cash 0k
car: 10k
car loan: -20k
credit card debt -30k
total net worth: -100k
equity as a percentage of total: -60k/-100k = 60%
proof you can create statistics to show anything
"60% of the average homeowner's wealth comes from home equity"
I would like to see the home equity compared to the average homeowner's wealth for those who are actually paying off a mortgage (i.e. exclude the "free and clear" owners).
Also, read the fine print in the video. That quote came from a 1995 study. Might want to update that.
The DNC talking points are up on their website. It says that anyone who opposes a bailout should be accused of being a greedy rightwing fascist who hates poor people. Go get'em boys.
Hey Keith
Did you hear that realtors are complaining that (from Diana Olick cnbc) lenders are slashing appraisals. Banks are not accepting current comps as appraisals because they know that real estate prices are going down.
Which is causing buyers to rethink their decision and or rewrite contracts and sellers to lower prices even more.
I wonder how stupid they feel when the bank says "No I think your "f" on this deal this house is worth 10% less."
Ashman
So by "investment" are they admitting price volatility?
Extra Credit: Just thank your local republicans and jew-fvck bush-co/cheney christian bible church cult members and GOP regime, NBC/FOX/CNN and military industrial complex slugs. The most dumbest, criminal and dangerous breed of humans on the planet. Seriously.
We don't need old school, aggressive, stupid, criminal war dogs running our country further in the ground then they all ready have. They ARE our biggest National Emergency Issue to date. Lets send them a message.
Their stupid and aggressive chilling deeds of mass deception, hatred, documented lies, bombing raids, wars, thefts and unprecedented discrimination, murders, violence, torture, rape, injuries, pain, suffering, reckless over-spending and treason are enough to bring forward A LIFE TIME OF CRIMINAL CHARGES to each US Government Official, agent, employee and/or associate that has committed these unthinkable crimes, thefts and chilling mass murders.
so I take it that you don't like these people. dude did you take your blood pressure medicin?
chill out man.
No, but it comes with a monkey back guarentee.
Even Jim 'shill' Cramer has an investment disclaimer before and after his mad money show...
I wonder if anyone will be successful in suing the NAR for their "reckless investment" advise?
Schiff also covered this topic on his visionary book:
Say good-bye to granite countertops
High-end kitchen and bath renovations just aren't boosting a home's value the way they used to. Sellers who succumbed to home over-improvement syndrome are feeling the pain.
NEW YORK (CNNMoney.com) -- The granite countertop's glory days might be over.
During the housing boom, updating a kitchen with high end materials like cherry wood cabinets and a Viking stove was a sure bet to boost a home's value. Homeowners often recovered about 80% of the cost when the house was later sold.
But with so much more inventory on the market for buyers to choose from, they just aren't as impressed with the bells and whistles.
http://tinyurl.com/2lgnva
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