March 26, 2008
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A time capsule of the greatest financial mania in the history of mankind, told in real-time by regular folks and patriots. May future generations better understand the madness of crowds, and how power and money corrupt.
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8 comments:
Put in $8,000 granite countertops and the house is instantly worth $100,000 more. That's better than turning lead into gold.
I had to have a discussion with a realtor the other day that was utterly CONVINCED that the housing market is about to turn around any day now and that I had to buy a house as soon as possible or I'd miss the next ramp up in prices.
These people are UN-F*CKING-BELIEVABLE!
Delusional, stupid and ignorant.
The marx brothers would be proud.
http://www.imdb.com/title/tt0019777/
This song/video is clearly an inflection point in perception of the market. The housing bubble just jumped the shark.
If the sheep catch on to the subjects covered therein - the world will collapse.
That was awesome Keith.
ALL PRICE DECLINES ARE LOCAL!!!
DOPES!!!
I have been singing that tune all day... "Housing Bubble, What's the Trouble..." A real HP classic! The only question is, will it go Platinum?
Saw this gem in a newspaper. A yuppie couple just starting out income-wise bought a 350 square foot studio condo in year 2005 for $97,000. They expect to sell it this year for $125,000. They showed a picture of the floor plan. It might be good for a loner, but not if she drops a kid!
I couldn't help but think of what they are paying a month. IF they got a _fixed rate_ the payment for the mortgage alone would be $670/month or so but once you add the insurance and taxes, it'll be like $1,000/month not including the dreaded association fee.
BUT if they got any one of the explosive mortgages, wait until it blows up in their faces! And when nobody wants to buy.
For what these idiots want, they could get a bigger condo in a different neighborhood that I routinely drive by every day after haggling down from $147,000 to the $125,000 they want.
Kids and college is like horses and water: You can send a kid to college but you can't make him learn. Dumb. Dumb. Dumb.
Classic! Almost like Schoolhouse Rock. Well done!
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