"Today's economy represents one of the most severe housing downturns in American history"
- Richard F. Syron, Freddie Mac chairman and chief executive, January 2008
March 02, 2008
HousingPANIC Quote of the Day
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13 comments:
DAMN THAT SUZANNE!
I told them so... but now they most probably don't even rememeber what I told them. When they see me, all they probably remember of me is that I am a negative person!
What I've learned during this bubble is that I am not my brother's keeper. I can only help those who want to be helped, and there are not that many!
And I was burning up inside over people retiring young off the housing Ponzi scheme, the Johnny-come-lately throngs making it impossible to get in the door to look at a condo, the Casey Serins, and the entire HP rouges gallery.
If this is true, then being priced out of a house (who needs it, anyway?) looks like Tiddly Winks.
NO Sh*T Sherlock!
We havent seen anything yet!
Houses are steadly going up for sale here in Alameda. People are starting to feel the pinch from higher gas prices and all this talk from the Governor that education will be cut way back in local schools.
Alameda property taxes will be increasing due to the shortfall in funds from (or so they say) transfer tax transactions. Also in the plan is to cut out school sports, music and close down one or two schools on the island.
How will that $800-950k house located in the best school district look to parents when housing prices decline, and the schools create a lottery for attendance and location?
Of course housing is now secondary to the massive credit crisis in the world (although of course caused by housing). . .we are reaching near the one Trillion level of bad debt, and we haven't even factored in everything from bad auto loans, credit-card loans, student loans, etc. etc. Sadly, the US will end up being the poor relation, like the UK was in the 1950's. . .people with food rationing, threadbare clothing, and a dead economy. . .let's hope we have the "British Stiff Upper Lip" to see it through. . .
JUST TAKE OFF ONE OF THE ZEROS IN THAT ALAMEDA HOUSING PRICE AND NOT ONE OF THE ZEROS IN THE DOLLAR AND I WOULD BUY TWO HOUSES THAT ARE TAXED TO SUPPORT SCHOOLS
STIFF UPPERR LIP? i THOUGHT THAT WAS CLASS AND DISTINCTION ... BETTER CHECK OUT THAT SIDE OF THE BLOODLINES AGAIN...........
let's hope we have the "British Stiff Upper Lip" to see it through
Look at what happened in New Orleans. Look at the materialistic masses. Even poor ghetto welfare folk have iphones and spinner rims. What happens when the working class see that the people on welfare are better off than those who are working? The majority will stop working to go on welfare and the economy will collapse. It's time to abandon ship while you can
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Well Damn It!
Lets see a downturn in prices then!
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"The majority will stop working to go on welfare and the economy will collapse. It's time to abandon ship while you can"
Obama's vision realized - the masses fully dependent on government so he and his cronies can have iron rule over them.
Per the Marxist playbook, he will silence opposition by taxing them into oblivion, then they will no longer be a problem.
Will plastic surgery work?
I need a stiff lip now!
Blogger Frank@Scottsdale-Sucks.com said...
"The majority will stop working to go on welfare and the economy will collapse. It's time to abandon ship while you can"
Obama's vision realized - the masses fully dependent on government so he and his cronies can have iron rule over them.
Per the Marxist playbook, he will silence opposition by taxing them into oblivion, then they will no longer be a problem.
March 02, 2008 7:52 PM
Oh Frank, you just have to blame everything on "the left wingers", "leftist liberals", "Drmocrats", etc... What about your fellow so called conservatives? They held the White House for eight years and for the majority of that term they also had a majority in the House and the Senate and what did they do? The spent money like drunken sailors. Oh yeah, that is the party of fiscal responsibility! Get a grip Frank, the Republicans and Democrats are both a disaster. Don't think that one party is better or worse than the other. The only alternative is a third party. But you are a ditto head and repeat everything that Rush Limbaugh and Bill O'Reilly and since there are 40 million voters like you, this country will never see any meaningful change.
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