October 28, 2008

FLASH: US Home Prices plunge 16.6% from last year. Phoenix and Vegas, despite year-round-golf and pro athletes, plunge 30%



And anyone who listened to a realtor on commission got slaughtered.

Any questions?

Home prices see record plunge

Prices of U.S. single-family homes plunged a record 16.6 percent in August from a year earlier and plummeted more than 30 percent in Las Vegas and Phoenix, Standard & Poor's said on Tuesday.

Home prices in 20 major metropolitan areas fell 1.0 percent in August from July, according to the Standard & Poor's/Case-Shiller Home Price Indices.

The composite index of 10 metropolitan areas declined 1.1 percent in August from July for a 17.7 percent year-over-year drop, also a record, S&P said in a statement.

"The downturn in residential real estate prices continued, with very few bright spots in the data," David M. Blitzer, Chairman of the Index Committee at Standard & Poor's, said in the statement.

A huge supply of unsold homes, tighter lending standards and record foreclosures have pushed down home prices, deflating a bubble from the early part of this decade.

For the fifth straight month, prices fell in every region on an annual basis, he said.

38 comments:

Anonymous said...

Looks like Mom and the kids are returning from the funeral service for Dad who died from heart attack at 49 years old. He was working 24 hours a day/7 days a week and still going negative with three extra mouths to feed, clothe and shelter.

Mom is on the way to cash the insurance checks. Mom will soon be going to surgeon for a tune up so she can stay relevant in the Friday Night MILF market. After all, we all have NEEDS...

AND, Suzanne researched it.. and will be new drinking and whoring buddy... Probably live in Scottsdale or Orange County, CA

We CAN Do It. This listing is special...

Ebont tits and Joan Rivers face to follow.

America is DEAD.

DIE

Anonymous said...

Man you don't let up on Greg Swanndive!

Nice!

Anonymous said...

"And anyone who listened to a realtor on commission got slaughtered"

Yes, my wife and I lost 7 years worth of savings. We will never use a Realtor and StockBroker again. As a matter of fact, we will never believe a Sales Person again, and we have learned to say FU to these scum bags.

Ron said...

Kapow...

http://tiny.cc/WDGsK

Anonymous said...

My husband asked if I was concerned by the latest Case Shiller figures.

I said no. When you've got a dead body on your hands, it's no longer alarming to find out it had cancer.

Anonymous said...

When is "Diane" going to do the perp walk?

Anonymous said...

Always a good time to buy!

Anonymous said...

I was in PHX last week for a small trip & stopped at an Open for the hell of it.

They wanted 430K for a 20 year old Patio home (2000 sq ft) that backed right up to 51 HWY

CRAZZY!!

Anonymous said...

NOW is a GREAT time to BUY...

Your RealWhore.

Anonymous said...

2010/2011 is the right time.

Anonymous said...

and due to the non calculation of house price inflation as inflation over the last 15 years and the rise in interest rates that would have been required to stabilize prices and hense inflation they are even more irrationaly priced even down, still

Anonymous said...

Nice job Keith. Never let up on that douche Greg Swann until he is decomposing somewhere.

Now is a great time to generate a commission.

Anonymous said...

Qweefie,

So what dude? Say I bought a house for $500K. It is now worth $300K. But, my mortgage will be written down to $270K by The Glorious Dear Leader O'BAMA. So that house could fall to $50K and it wouldn't mean jack, since my new mortgage would then be $40K.

Only people that lose - once again - are HPers who lived in 1 bed shitholes and driving 20 year old Hondas, while everyone lived it up.

Agent 99 said...

Well, today was a first. I went to a storage facility auction this morning. 16 units/contents being auctioned due to nonpayment. There's always a little anticipation when the door's open... Three of the units were clearly being lived in. Beds, lamps, tables, chairs, ashtrays, beer cans.
The future is here...people living in storage units.

k.w. - Southern Ca. said...

As so many have known all along, these declines are really just getting started.

Here in HB Ca., more and more foreclosures, bank repo's as well as cars, boats and motorbikes on the road with forsale signs - might as well haul alot of this off to the junk yard, there will be no buyers.

Anonymous said...

gotta love this, from cnbc:


"Some states have actually frozen foreclosures, but this offers only temporary respite, as Massachusetts recently found out. After imposing a 90-day notification period before foreclosures can be initiated, a quiet summer was followed by foreclosures shooting up 465 percent in September."

gutless and lazy said...


Re: Agent 99 .. The future is here...people living in storage units.


WOW!!

real agent said...

While looking at a house, my brother asked the real
Estate agent which direction was north because, he explained, he didn't want the sun waking him up every morning. She asked, 'Does
the sun rise in the north?' When my brother explained that the sun rises in the East, and has for sometime, she shook her head and said, 'Oh I don't keep up with all that stuff.'

Anonymous said...

"Mom will soon be going to surgeon for a tune up so she can stay relevant in the Friday Night MILF market."
---------------
WTF is MILF?

Anyone..?

Anonymous said...

While looking at a house, my brother asked the real
Estate agent which direction was north because, he explained, he didn't want the sun waking him up every morning. She asked, 'Does
the sun rise in the north?' When my brother explained that the sun rises in the East, and has for sometime, she shook her head and said, 'Oh I don't keep up with all that stuff.'
---------------------------------

i am going to assume that it was a cloudy day.... otherwise I would laugh at your brother for even bothering to ask.

your brother should also go to a store that sell window blinds. they make some really goods nowadays.

Anonymous said...

WTF is MILF?

Anyone..?

October 28, 2008 8:14 PM


==========

Have you been under a rock the past 10 years?

Anonymous said...

Stock Market soars on the news.

Anonymous said...

Man you don't let up on Greg Swanndive!

----

I wonder in his secret chamber of his heart whether he knows he was wwrong all along?

btw, are we still flying monkeys and brown shirts? I might fly over and leave a comment or two on his blog

Ralph Waldo Emerson said...

In Ralph Waldo Emerson's famous essay, Compensation, the "Quintessential American" says that the universe, and by extension, nature, science, and especially human nature, is unwilling to accept imbalance.

"Things refuse to be mismanaged for long," he says. Eventually, everything achieves a natural balance.
This is true in today's world markets and economies, too. Stock markets, currencies, inflation, gold… none of these go up or down forever. Sooner or later, they reverse and go in the opposite direction.

DOPES 2 said...

"FLASH: SUDDEN DEFLATION IN THE POPCORN AND AMMO SECTORS!!!!! HP'ERS AND STUCK WITH 85% LOSSES IN AMMO VALUES AND POPCORN IS NO LONGER EN VOUGE!!!!""

BWAHAHAHAHAHAHAHAHA!!!!!!!!!

GREAT CRASH!!!!

GREAT DEPRESSION!!!!

DEAD CAT BOUNCE . . . YEAH . . . WRONG!!!!!

SCHIFF GAVE HP'ERS THE SHAFT!!!!

BUY NOW OR BE PRICED OUT FOREVER!!!

THEY CAN'T PRINT MORE STOCK OR MONEY!!!!

TARDS!

TOOLS!!

DIPS!!!

DOLTS!!!!

DOPES!!!!!!!!!!!!!!!!!!!!!!

Anonymous said...

You mean REALT'ARD

Anonymous said...

DEAD REALTOR BOUNCE!

Anonymous said...

O.K.

Anonymous said...

WTF is MILF?

It is what your high school friends wanted to do to your mother!

vanilla ice said...

Die realtor scum

Paul E. Math said...

This can't be. Because, like, bubbles are for bathtubs. Kendra Todd told me that and she not only won the Apprentice but was also a successful real estate investor. Yeah, it's true.

Where's that old REIC bijon frise Nicolas Retsinas to tell us we're chicken littles too? John Harvard would be shitting in his grave if he know who was now representing his institution.

I just thought, with your attention to Swan-dive, that you're kinda neglecting a couple of our other favourite bitches.

Anonymous said...

agent99:
"The future is here...people living in storage units."

Actually, the past is back. My grandfather rented his 1-car garage to a guy during the Depression. His neighbor was greedy and rented his basement, his living room, his dining room, AND his garage.

There is nothing new under the sun.

People with houses always win.

Robot Chicken said...

Keith, Stop it. I'm cracking up. You made milk come out my nose!

Anonymous said...

Qweefie,
...
Only people that lose - once again - are HPers who lived in 1 bed shitholes and driving 20 year old Hondas, while everyone lived it up.


I certainly hope you realize you're a major douchebag. Unlike you I don't have to keep up appearances in front of my friends so I don't mind renting a huge 2 br apartment and riding the bus and train to work every morning.

I don't feel a huge loss or a missed opportunity for not owing a single dollar on a house that I have to maintain.

Anonymous said...

THEY CAN'T PRINT MORE STOCK OR MONEY!!!!

hahahaha, of course they can you tool!

Anonymous said...

How about an update, a 'Where are they Now' piece on Connie "Joan Rivers" De Groot, Caveman Adkins and Loser Lereah and Useless Yun.

Now that group picture is one of failure, disgrace and doom.

REIC = DEAD

DIE U PIG

Anonymous said...

too funny.

i love the realtor line:

"this is the best market ever!"
then in a hushed voice " in terms of choice"

Doomed said...

The October Grim Reaper is leaving da building and has finished swathing people's wealth, time to buy stocks