April 10, 2008

HousingPANIC Stupid Question of the Day

What percent of realtors do you think have read "Manias, Panics and Crashes"?

What percent do you think should have before they positioned themselves as "financial advisors"?

And who should we send copies to?


J C said...

What is your take on "Cash for Keys" - see the lowlife on YouTube get $2800 for NOT smashing up his about-to-be-foreclosed house! I cannot believe it - giving cash to these scumbags!

Anonymous said...

I've been to several bookstores and they're all out.

Mammoth said...

"What percent of realtors do you think have read "Manias, Panics and Crashes?"
What percent of realtors are literate?

There is a difference between being able to read, and being able to read the 'handwriting on the wall.'

Revolution NOW said...

Better Question:

What % of used-house peddlers CAN read?


Anonymous said...

One of the biggest problems in America today is that they don't read.
Years ago when you would take the train to work in the morning (the 70s) you would see average souls reading a novel or a newspaper. Now they are wearing headphones or talking on a hand held phone.
Office workers always had a book on the desk. Now they have their little text messaging device.
We have changed our culture and the book is dead. Very, very sad!

Anonymous said...

Read a book? You are asking too much, Keith. The Americans hardly read anything ...


# On average, Americans ages 15 to 24 spend almost two hours a day watching TV, and only seven minutes of their daily leisure time on reading.

# Reading scores for American adults of almost all education levels have deteriorated, notably among the best-educated groups. From 1992 to 2003, the percentage of adults with graduate school experience who were rated proficient in prose reading dropped by 10 points, a 20 percent rate of decline.

# In 2002, only 52 percent of Americans ages 18 to 24, the college years, read a book voluntarily, down from 59 percent in 1992.

# American 15-year-olds ranked fifteenth in average reading scores for 31 industrialized nations, behind Poland, Korea, France, and Canada, among others.

# Money spent on books, adjusted for inflation, dropped 14 percent from 1985 to 2005 and has fallen dramatically since the mid-1990s.

# The number of adults with bachelor's degrees and "proficient in reading prose" dropped from 40 percent in 1992 to 31 percent in 2003.

frede said...

God-Given-Right-To-Six-Percent woman. And yeah, make it an MP3 audiobook on iTunes.

Anonymous said...

Keith, that is an awfully presumptious of you. I don't think most realtors know how to read. Isn't that why they became real estate agents in the first place?

-- Small Hat

Anonymous said...

Does this only include the percentage of realtors that can read?

Cause that would be statistically significant.

Anonymous said...

Talking about "financial advisers", the ultra conservative Alabama is now seeking a SOCIALIST BAILOUT with taxpayer money, after those Republicans bankrupted the state. Seriously, are those hicks good for anything? Thank god for BLUE STATES that carry this country on their backs, because if we depended on the useless and ignorant hicks from red states, we all would be homeless and starving by now:

(Bloomberg) -- Financial advisers for Jefferson County, Alabama, met yesterday with Bush administration and Federal Reserve officials as the county contends with rising borrowing costs that have pushed it close to bankruptcy.

The advisers for Alabama's most-populous county were in Washington to keep federal officials informed of its negotiations with creditors

nfn.nln said...

I've been to several bookstores and they're all out.

Are you suggesting there's a panic on Manias, Panics and Crashes? The irony...

AZ Mortgage Slug said...

Keith, I have to comment on the part of your question concerning these people claiming to be "financial advisors". I remember here in Phoenix, there were all sorts of clowns that went from Burger King jobs to being "financial" or "Mortgage" advisors. Most of these idiots could not even pronounce or understand anything to do with financial concepts. They were mortgage salesmen, and barely that. A case in point: (all you Phoenicians chime in here) There is this guy out here that advertises on channel 12 that now calls himself "The Arizona Financial Coach". He used to be "The Arizona Mortgage Coach" and was CONSTANTLY asking "Are you paying more than 2% on your mortgage" and "Use your equity in your home to improve your lifestyle" etc. It was interesting that this slug was still pushing his 2% mortgages as late as December of last year. Now, he is the Arizona Financial Coach, I guess the Mortgage part was too controversial. I wonder if the same people that he put in to his 2% mortgages are now going back to him because they need "financial coaching" on how to deal with the pending bankruptcy and foreclosure? I am surprised that this slug is still around. Apparently he saved enough of his ill gotten gains to continue advertising. I wonder if he has saved some for the litigation soon to follow once the Guberment starts doing it's job?

Just wanted to throw that out there in case any other Phoenicians have seen or better yet dealt with this crony.

Anonymous said...

Don't you guys feel like punching these people in the mouth? And they're freaking arrogant about it.


Anonymous said...

Unbelievable, this country is falling apart! First the Fed got into the real estate business, now the IRS is in the retail business.

Guess what, the China Stimulus Check is being replaced by coupons to buy goods at retail shops. The IRS plugs in your SS#, then the database spits out if you're more inclined to saving or paying debt with the Stimulus Check. If so, the IRS sends you a coupon for a specific item. For instance, they might send a coupon to buy an air conditioner if you live in the desert. It doesn't matter if you don't need or want an air conditioner unit. Here, read this absurd for yourself:


Now the gov is telling us what to buy with our own money. This is most ridiculous thing I ever heard! We've become Communists. Wanna bet that all the products that the "IRS database" is picking comes from China?

It's totally contrary to everything we learn in economics. This is going to cause huge unbalances in the market, as people will get coupons for what they don't need or want. I don't even pick gifts for my family and only give giftcards so I don't screw the market. I need to get out of this country.

sac'to watcher said...

Found something that is f'n brilliant!


This is for all the folks out there who vainly tried to warn others and now find that those same people now claim they knew about the housing bubble all along!

TampaKat said...

I have it. Easiest way to get it at best price is through amazon.com. I am also a realtor here in Tampa (needs to be added to the Panic Awards nominees list). I am not a Bohannon or Everett brand of realtor. I charge 1.5%, have walked away from some bad deals (usually from friends that just assume you'd be happy to participate in fraudulent activities), I've been used by friends for their advantage (well, noone that bought in the last three years is really at an advantage, huh?) but I have maintained my integrity for whatever that is worth in this day and age. I've been forthright in telling people after visiting the builders that those prices would either put them at or over the regular lending insitutions numbers (ie.bank) to be told that they know what's best for their families. I love this book. I have referred numerous people to your site after discussing mild economics with them to enable them to understand the situation. They normally look at me like I'm crazy or they nickname me "doom and gloom". I understand the realtor stereotype and that a large number of people fuel it but I also wonder why people "hire" me and then completely disregard what I share with them in terms of statistics, historic economic cycles, blah blah blah....anyways, love to read but we are living in a vaceous society. If you want an over the top example of where this country is headed..check out Idiocracy..but only after a few brewskis or whatever...

Anonymous said...

The idea of a typical real estate agent reading a book like this is laughable. I'd be interested to see how many bookstores still have Lereah's books on their shelves.

Anonymous said...

The idea of a typical real estate agent reading a book like this is laughable. I'd be interested to see how many bookstores still have Lereah's books on their shelves.

OrangeCountyPussyHound said...

I think this lady just read the book:

ORANGE – Authorities Tuesday identified a 59-year-old woman who apparently jumped to her death from a parking structure on Monday.

Donna Painter, of Buena Park, stepped-off the top floor of a seven-story parking structure, said Orange police Sgt. Dan Adams.

"We have no idea what led her to the parking structure," Adams said. "There was no suicide note."

The incident was reported about 1:15 p.m. after a woman was seen falling from the structure next to the Ameriquest Mortgage Company building at 784 Lawson Way, near Town and Country Road, said Orange Police Sgt. Sean O'Toole.

The woman landed on a driveway below and was pronounced dead at the scene.

Authorities found Painter's vehicle backed into a parking spot and a step-stool outside her car. Adams said it appeared Painter used the stool to get up on the ledge.

Anyone with information about the incident is asked to contact the Orange Police Department at . . .

LauraVella said...

Wow. I just checked Amazon for this book. There are hardly any for sale.

There were always lots of these before...

Concern for the future?