tag:blogger.com,1999:blog-18675105.post113263809948643020..comments2024-01-15T12:16:41.302+00:00Comments on HousingPANIC - The Housing Bubble Blog with an Attitude Problem, 2005 - 2008: Real-Estate Speculators, Pulling Back, Help Fed Remove `Froth'bloggerhttp://www.blogger.com/profile/06585266242070350399noreply@blogger.comBlogger11125tag:blogger.com,1999:blog-18675105.post-1132766792639849812005-11-23T17:26:00.000+00:002005-11-23T17:26:00.000+00:00Skytrekker:Great House! One acre of land, WOW.Skytrekker:<BR/><BR/>Great House! One acre of land, WOW.41cadillachttps://www.blogger.com/profile/15088072282360210414noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1132761125194468132005-11-23T15:52:00.000+00:002005-11-23T15:52:00.000+00:00not only is peak oil here (happened), but we're fa...not only is peak oil here (happened), but we're farther down the slope because saudi arabia has vastly overstated its reserves<BR/><BR/>we'll be drilling in alaska, on the coasts and anywhere we can the next 50 years to get every drop<BR/><BR/>in addition, we'll continue to fight wars for oil - and perhaps with china too - military wars or economic ones<BR/><BR/>when the resource runs out, greedy hands grab hard<BR/><BR/>and the biggest impact will be the 8 wasted years of being run by oil men (bush-cheney). When we could have started on a conservation and alternative energy path, we fiddled.<BR/><BR/>Long all oil. Period.bloggerhttps://www.blogger.com/profile/06585266242070350399noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1132729542152642892005-11-23T07:05:00.000+00:002005-11-23T07:05:00.000+00:00Skytrekker:I certainly understand why California p...Skytrekker:<BR/><BR/>I certainly understand why California people leave. For myself I rarely get on the freeways. Found my nitch. I drive less than 15 miles a week. Unless something special comes up which causes me to get onto a freeway. <BR/><BR/>I am very concerned about stocks. I let go of Lucent, Nortel, Texas Instruments, Vishey, Wells Fargo, Key Bank, BP. <BR/><BR/>Just concerned about the US economy with this Real Estate Situation.<BR/><BR/>Of course that Google sure is interesting. I did not have the funds to get into Google. Probably would not have anyway. My portfolio is small but it is in Oil. I even received a letter from the manager of the Stock Firm I trade with saying he was concerned about my concentration into one area of investing.<BR/><BR/>I have taken a very risky situation in Oil and Gas. So much is dependent on oil. Roads, plastics, tires, fertilizer, teenagers alone all over the world want to drive a car. So there I am.41cadillachttps://www.blogger.com/profile/15088072282360210414noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1132716481367695392005-11-23T03:28:00.000+00:002005-11-23T03:28:00.000+00:00skygood postings... I really think we're looking a...sky<BR/><BR/>good postings... I really think we're looking at a short term stock market ride as investors GET OUT of anything real estate that they've been focused on for 4 years and go straight into stocks. thus this month's rise.<BR/><BR/>people find 4% savings accounts and bonds too boring - they want action! <BR/><BR/>and now that's stocks. <BR/><BR/>As to oil, the easy money has been made - and now we're looking at 10% to 20% stock price growth for at least 5 to 8 years. <BR/><BR/>I'm an insider - ConocoPhillips. I got out over a year ago when I started my own company, but still hold my COP options, for 7 more years. Up over 150% so far and not cashing in. The world will continue to demand more oil than we can produce - thanks to India nad China.<BR/><BR/>The danger sign I watch for though is the implosion of the US and/or world economy as the real estate bubble melts down and consumer spending dries up. So I'm cautious with 40% of my assets in 4% savings, 20% in COP, and 40% in stocks and mutuals.<BR/><BR/>And ZERO IN HOUSING!<BR/><BR/>Good luck out there. Get out of the market at the first ugly sign, but I think we're on a ride through Q1bloggerhttps://www.blogger.com/profile/06585266242070350399noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1132712387994034912005-11-23T02:19:00.000+00:002005-11-23T02:19:00.000+00:00skytrekker:I truly am looking at this Bubble in Re...skytrekker:<BR/><BR/>I truly am looking at this Bubble in Real Estate to Crash and Burn in Los Angeles. <BR/><BR/>Then there is the OIL stocks. <BR/><BR/>I have bought and sold 8 homes since 1960. I have been buying and selling stocks since 1960. <BR/><BR/>Eventually one gets a gut level feeling about what one undertakes with gusto and understands. <BR/><BR/> I especially like Buffett quotation. "All we want is to be in business that we understand, run by people whom we like and priced attractively relative to their future prospects." <BR/><BR/>I look at the two events crossing.<BR/><BR/>1. Real Estate Crash and Burn.<BR/><BR/>2. Oil and Gas Companies stock going to the stars. <BR/><BR/>One thing for sure about most but of course not all Southern California people. They absolutely do not like any cold weather. It is a strange occurrence but I don't see many Southern California people going to your beautiful eastern Connecticut. (Gut level Feeling).41cadillachttps://www.blogger.com/profile/15088072282360210414noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1132682978612296062005-11-22T18:09:00.000+00:002005-11-22T18:09:00.000+00:00skytrekkerI am on my way to eastern Connecticut. ...skytrekker<BR/><BR/>I am on my way to eastern Connecticut. Two acres with a home sounds wonderful. <BR/><BR/>No, not really on my way, I have a small business teaching voice and coaching acting in Hollywood, (Hancock Park). <BR/><BR/> I am watching a 2 plus acre spot with a grand hall for teaching and theatre presentations, (recital type for students). Parking for 10 cars, gated, swimming pool. Right in the middle of Los Angeles. <BR/><BR/>I do have a plan for the monies. Oil Stocks. <BR/><BR/>Connecticut sounds like a dream come true......41cadillac41cadillachttps://www.blogger.com/profile/15088072282360210414noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1132667322123683392005-11-22T13:48:00.000+00:002005-11-22T13:48:00.000+00:00skytrekker - I'd say $400k? And they're still clo...skytrekker - I'd say $400k? And they're still closing condos out there?bloggerhttps://www.blogger.com/profile/06585266242070350399noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1132662776542861692005-11-22T12:32:00.000+00:002005-11-22T12:32:00.000+00:00I am grateful for rent control in Los Angeles. I ...I am grateful for rent control in Los Angeles. I do get zapped with 5% increase each year. My income does not allow me to buy that $1,200,000 dollar home in the Hancock Park neighborhood I live in. The Wilshire Country Club golf course is across the street. You can see the Hollywood sign from my apartment. <BR/><BR/>In the law the concept is what a "reasonable man" would do. <BR/><BR/>The "reasonable man" has jumped out the window in this rush to buy homes at these outrageous prices. <BR/><BR/>WOONSOCKET - A shortage of affordable housing in Rhode Island has reached the point of crisis, and will have far-reaching effects on the state's economic outlook, according to research released last week by a broad-based coalition called HousingWorksRI. <BR/><BR/>In Woonsocket, the fourth-cheapest place to live in the state, after Providence, Central Falls, and Pawtucket, the median home price is now $218,000. The required income to make that purchase affordable is $70,000 a year. <BR/><BR/>In Cumberland, North Smithfield, Lincoln and Glocester, where median home prices approach or exceed $300,000, household income to afford to buy a home must be in excess of $90,000 a year, which is beyond the reach of most households even with two full-time wage earners. Average wages for positions like clerical, retail, and manufacturing workers are in a range of $22,000 to $28,000 a year.41cadillachttps://www.blogger.com/profile/15088072282360210414noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1132658790631466612005-11-22T11:26:00.000+00:002005-11-22T11:26:00.000+00:00A Professor of Urban Development predicts the end ...A Professor of Urban Development predicts the end of suburbia? Alert the media. Oh wait, he did. Lessinger doesn't even know his subject. He makes that abundantly clear by calling the by far the densest large county in the US, Los Angeles, suburban. The flight to the "318 non-suburban" counties is what's been going on for the last 60 years but according to herr Professor this time its' different. As anyone should know whenever someone with a vested interest in the conclusion says this time is different, hold on to your wallet and step away!Rob Dawghttps://www.blogger.com/profile/10042154106850545479noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1132655315382485952005-11-22T10:28:00.000+00:002005-11-22T10:28:00.000+00:00Interesting commentary in Mr. Lessinger's book. He...Interesting commentary in Mr. Lessinger's book. He does not put emphases on interest rates as a major cause of a Bubble Burst. See Below:<BR/><BR/>"Today's suburbia is now 60 years old. Due to slowing growth, super-high prices cannot be sustained,” warns Jack Lessinger, Professor Emeritus of Urban Development, University of Washington.In his latest book, "Your County—Boom or Bust? <BR/><BR/>California led the way to suburbia. Today, over half its population of 35 million live in counties that became inundated with suburban subdivisions during 1950-1970. But the tide has turned. In 1990-2004, the great majority of these counties—including such heavyweights as Los Angeles, San Diego and Santa Clara—are faced with declining percentage shares of national population. See Appendix, pp 200-201. Decline has also hit other suburban areas throughout the nation. For other states see the rest of the Appendix.<BR/>Suburbia won’t disappear but growth is moving elsewhere. Since 1970, in a barely-noticed migration, people have been pouring into 318 smaller non-suburban counties. It’s only the beginning. More and more families are packed and ready to go. As random choice becomes national conviction and the trickle becomes a flood, suburbia’s percentage share of the national population will increasingly decline."41cadillachttps://www.blogger.com/profile/15088072282360210414noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1132653933300481802005-11-22T10:05:00.000+00:002005-11-22T10:05:00.000+00:00Keith:Did you see this:Jim Cramer painted a rosy p...Keith:<BR/><BR/>Did you see this:<BR/><BR/>Jim Cramer painted a rosy picture for stocks on his "RealMoney" radio show Monday. <BR/><BR/>Cramer said there are a number of factors regarding why the stock market is poised to rally, such as a strong dollar, declining oil prices, a tech gadget rally, mutual funds that are getting new money in, hedge funds that are too negative and a stock market that is "not that expensive." <BR/> <BR/>The biggest reason, though, is the relative decline in the appeal of real estate as an investment vs. stocks. Real estate may have outperformed stocks for a number of years, but the tide is turning, said Cramer, and investors are coming back to the market in droves.41cadillachttps://www.blogger.com/profile/15088072282360210414noreply@blogger.com