tag:blogger.com,1999:blog-18675105.post116423038116652966..comments2023-12-30T10:06:37.450+00:00Comments on HousingPANIC - The Housing Bubble Blog with an Attitude Problem, 2005 - 2008: The Epic US Housing Meltdown hits Oprah today - now the REAL panic startsbloggerhttp://www.blogger.com/profile/06585266242070350399noreply@blogger.comBlogger58125tag:blogger.com,1999:blog-18675105.post-1164780589426192012006-11-29T06:09:00.000+00:002006-11-29T06:09:00.000+00:00Kind of goofy if you ask me, do you really think t...Kind of goofy if you ask me, do you really think this way?<BR/><BR/>Look at my signature.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1164682585347936172006-11-28T02:56:00.000+00:002006-11-28T02:56:00.000+00:00Check out orlando inventory trends at www.appraise...Check out orlando inventory trends at www.appraiserking.com Real Estate Property Appraisers for all of Central Florida Including: Orlando, Kissimmee, Deltona, Altamonte Springs, Clermont, Celebration, Davenport, Lakeland and Longwood. By County includes: Polk, Osceola, Orange, Volusia, Seminole and Lakeland<BR/>Our Appraisals now have a 24 hour turnaround!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1164668099078983612006-11-27T22:54:00.000+00:002006-11-27T22:54:00.000+00:00Read hundreds of Home Loan Reviews!Mortgage-Lender...Read hundreds of Home Loan Reviews!<BR/><A HREF="http://www.mortgage-lender-reviews.com" REL="nofollow">Mortgage-Lender-Reviews.com</A>Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1164664843484538792006-11-27T22:00:00.000+00:002006-11-27T22:00:00.000+00:00You said - "I'm glad I found all of you smart, sma...You said - "I'm glad I found all of you smart, smart people to tell me that everyone else is stupid.......You're right. The housing market is going to collapse.....maybe you'll start to feel a little sympathy for the stupid peons who are suffering as a result of trying to find some way to make it."<BR/><BR/>I for one, and I believe most posters here feel some sympathy for the unfortunate ones that are just trying to do their best to try to make it.<BR/><BR/>That sympathy is tempered, however, to the degree that the particular homedebtor became caught up in the greed and "I'm ENTITLED to a big profit just for owning and/or living in a house for a of couple years" mentality.<BR/><BR/>As for the members of the Real Estate and Easy Lending Industrial Complex.<BR/>ZERO SYMPATHY and UNAPOLOGETIC DELIGHT at your pain.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1164664401355181662006-11-27T21:53:00.000+00:002006-11-27T21:53:00.000+00:00Gee, it sounds like the schadenfreude that just ke...Gee, it sounds like the schadenfreude that just keeps on giving!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1164664313767052672006-11-27T21:51:00.000+00:002006-11-27T21:51:00.000+00:00hmmm... what to do what to do? Here's an idea, bu...hmmm... what to do what to do? Here's an idea, buy a foreclosure for 50% of what it is listed at today with a large down payment, enjoy a low monthly p/i payment (if any) press the local taxing authority to reassess the property taxes due based on lower valuation. Live cheap with less stress while your neighbors bust a gut maintaining their status quo. That is what comes after the schadenfreude.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1164655670996007322006-11-27T19:27:00.000+00:002006-11-27T19:27:00.000+00:00I'm glad I found all of you smart, smart people to...I'm glad I found all of you smart, smart people to tell me that everyone else is stupid.<BR/><BR/>Okay, so you cynics are smarter than everyone else. You're right. The housing market is going to collapse.<BR/><BR/>Now what? The satisfaction of being right might carry you for a few hours. Then maybe you'll start to feel a little sympathy for the stupid peons who are suffering as a result of trying to find some way to make it.<BR/><BR/>After the schauenfraude, what next?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1164590276546923502006-11-27T01:17:00.000+00:002006-11-27T01:17:00.000+00:00Now it's serious!When it hits Oprah....it's seriou...Now it's serious!<BR/><BR/>When it hits Oprah....it's serious!!!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1164502635394724882006-11-26T00:57:00.000+00:002006-11-26T00:57:00.000+00:00The listing is shown as "pending".Don't forget the...The listing is shown as "pending".<BR/><BR/>Don't forget the idiot factor! Some woman will cajole her husband into buying the $hitbox just for the cache that "Eeeeeeee! It was featured on Oprah. I want it honey... I have to have it!...and besides, Suzanne (and Oprah and Cutie Pie Nate) researhed it"<BR/><BR/>WE ARE DOOMEDAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1164361447922948012006-11-24T09:44:00.000+00:002006-11-24T09:44:00.000+00:00IDJITS!IDJITS!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1164339047032167232006-11-24T03:30:00.000+00:002006-11-24T03:30:00.000+00:00To UK anon, my analysis of England from another th...To UK anon, my analysis of England from another thread...<BR/><BR/>The entire UK's economy is the London financial services industry.<BR/>From a fundamentals pov, England hasn't produced anything since the fall of the Empire cerca 1965-1972.<BR/><BR/>So in a way, London's like NYC but without a country like the USA adjoining it. And if American corporations don't get their acts together soon, then the US will also go the way of England but at least there's some twenty years left of productive value in the States.<BR/><BR/>So, when there are other chic/happening cities like Amsterdam, Paris, or Milan for rich, globe trotting bankers/oil men/movie stars, why would they buy up 90-100% of the UK's properties just to help out the average Briton with an ARM? I think those posh places in Chelsea are already accounted for and the country's RE has only one way to go... down.<BR/><BR/>---<BR/><BR/>"I hear the russians are especially interested in converting their wealth into UK assets so that when the government tries to steal the money back, it'll be overseas."<BR/><BR/>The only UK assets are RE, Pound Sterling, and Hedge fund shares/equity. So there's a limit to the diversification going on over there unless the foreigners are going to buy all of the UK.<BR/><BR/>------<BR/><BR/>"Russians and saudis are buying UK PROPERTY - houses. don't forget that asset class"<BR/><BR/>Well, condos in NYC are also a million dollars per unit so it's one of those chic cities where rich people buy places, however, unlike NY, London is the only economy for the whole of the UK. If anything, RE in England is the South Sea bubble all over again except that this time, there's no USA to emigrate to for the average Briton like three centuries ago, whereas the US, still has a military-industrial research complex, raw materials (esp coal), biopharma, foodstuffs, etc so the collapse of America's service sector wouldn't destroy the country, it'll spawn a painful one or two decade bear market (ala depression) whereas England's toast if their hedge funds go belly up or the rich ex-Soviets start to look at Amsterdam or Copenhagen for places to buy. And to be frank with you, if I were rich, I'd much rather hang out in those places over England.<BR/><BR/>-----<BR/><BR/>"When the global economy melts down or world war breaks out, the question is where will you want to be? In London or Jerusalem? In Seattle or Damascus?"<BR/><BR/><BR/>When did banana republics vs real nations become the highlight of the issue?<BR/><BR/>If anything, Ottawa Canada is the safest place in the world and its real estate is the most affordable for a modern, developed, beautiful city by a river. The difference between Ottawa and London is that London serves a dual nature of being a hedge fund center (a.k.a. UK's NYC) and in a developed first world nation away from places like Russia or Syria.<BR/><BR/>So when a place is oversold, real estate in New York City, Vancouver, or London, it becomes another phenomena of overvalued parcels of land and units where the expectation is that the rich are going to soak up everything, keeping the average middle class person asset wealthy via the creation of a localized wealth effect. That's a bubble zone. A rich oil man can buy one or two units in London to meet with his broker, a mansion (or two) in Ottawa a/o Oslo for his multi-acre landed estate, and a basket of currencies including the pound, loonie, usd, euro, corona, and a pile of gold/silver all over the US, Canada, Australia, Germany, and England and the chances are that he'll retain his wealth even if there's an overthrow of his govt in Bahrain. Simultaneously, he's hedged his bet because not all major cities are going to implode 1990s Tokyo-style so his private RE holdings are nicely diversified to hold up during market downturns. I mean a lot of multi-millionaires got roasted because they'd bought hotels in Toyko in the 1980s thinking that they'd retain their RE equity, not to find themselves in an illiquid position costing them ten years later.<BR/><BR/>-----<BR/><BR/><BR/>::They say the wealth of the top .01% has increased 600% in 20 years. Has your paycheck? At that increase I guess 20% appreciation a year say in London sounds like a bargain buy.<BR/><BR/>Yes, I agree with the localization of the wealth effect and for that exact reason, Manhattan apartments average 1 million dollars per unit. But now think about this... the rich can only make money if they have an asset class that's of value to a certain number of people. So, when people find that living in NYC is too expensive for the *average* blue chip professional, earning $400K/yr, then that crowd, the upwardly mobile but not too rich gang loses interest in a region and moves into cheaper locales in New Jersey, Putnam, Rockland, and Nassau counties in NY state and then even offices, which handle the transactions for the wealthier clients, move there as well, once the body count reaches critical mass. And this is pretty much what happened to Tokyo, during the 80s, as all kinds of rich people started buying downtown properties at prices equivalent to owning entire city centers in places like Boston, Houston, and Philly. Well, at that point in time, the well off manager salarymen (~$400K/yr) at Japan Inc moved 2 hrs away and the entire city of Tokyo became one speculative region for land/units via rich RE players (including organized crime bosses). The rest is history. And the problem is that that's the issue, there are only so many Malibus, Hamptons, etc out there for the top 0.001%. The other top 0.5% also need places to live in and it's this crowd which keeps RE alive in happening regions.<BR/><BR/>------<BR/><BR/>Someone else concurs:<BR/><BR/>"And the problem is that that's the issue, there are only so many Malibus, Hamptons, etc out there for the top 0.001%. The other top 0.5% also need places to live in and it's this crowd which keeps RE alive in happening regions."<BR/><BR/>Yep, high end enclaves are pretty much scoped out in much of the world. There are practically no "perfect" private beach castles in Tahiti, available for the average Japanese, European, or North American nowadays. Those places have already been bought out by millionaires or resort conglomerates which is why French Polynesia is one of the most expensive Pacific Island regions in the world.<BR/><BR/>In order for real estate to maintain an upward holding pattern in London, Sydney, NYC, or Los Angeles, the upwardly mobile professionals need to feel like they can afford to be a part of the action to generate the volume needed to create a real estate market or otherwise, we get a Tahiti situation where there are billionaire recluses and tourists hotels but no professional class buying places to live in.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1164331341661758372006-11-24T01:22:00.000+00:002006-11-24T01:22:00.000+00:00THis si truly unbelievable. They expect people to...THis si truly unbelievable. They expect people to be sorry for them when they expect 20% appreciation per year. Disgusting!!!!!!!!!!!!!!!!!!!!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1164326022563875372006-11-23T23:53:00.000+00:002006-11-23T23:53:00.000+00:00MR T here again if you go to www.rightmove.co.ukan...<B>MR T here again</B> <BR/><BR/>if you go to www.rightmove.co.uk<BR/><BR/>and search in chelsea (in london) for a house<BR/><BR/>you can see just how crazy house prices have got.<BR/><BR/>A million pounds - or something like 1.9 million of your greenbacks wont get you muchAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1164325768052215352006-11-23T23:49:00.000+00:002006-11-23T23:49:00.000+00:00hi american cousinsMr T from the UNITED KINGDOM he...hi american cousins<BR/><BR/>Mr T from the <B>UNITED KINGDOM</B> here <BR/><BR/>i guess we re 6 months behind you guys! Interesting to see whats happening, as this house price crash is comming to the UK<BR/><BR/>House prices are really expensive over here - you have to borrow 5 to 7 times your annual wage for a flat (you call a apartment) or a tiny house.<BR/><BR/>A lot of people are taking out INTEREST ONLY MORTGAGES, and are failing to look at the prospect the capital will never be paid off.<BR/><BR/>The average house is about £200,000, which is about $380,000 in your money. Thats alot - we think house prices here are the most expensive in the world!!!<BR/><BR/>This is really having a bad affect on our social culture. A whole generation of young adults have been unable to buy their own property for years. We are getting mass emigration - some 1000 brits are leaving every day for a better life. The average age for a first time buyer is something like 35 years old - thats terrible.<BR/><BR/>We have a lot of youngers discontent with the situation - alot of them are causing the anti-social behaviour we see on the streets; there s just no future in the UK. Rents are high too - where i live in the south of England - rents are £550 per month for a one bed flat and i only earn £1100 after tax. Its a gutting situation.<BR/><BR/>There is a cult following and preparing for this house price correction - <BR/><BR/>www.housepricecrash.co.uk <BR/><BR/>and <BR/><BR/>www.globalhousepricecrash.com<BR/><BR/><BR/>We welcome your comments, and what is exactly happening over there!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1164320650406552592006-11-23T22:24:00.000+00:002006-11-23T22:24:00.000+00:00OK, I posted on there under tulip4u title: you are...OK, I posted on there under tulip4u title: you are but one of many....Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1164305630012602622006-11-23T18:13:00.000+00:002006-11-23T18:13:00.000+00:00Someone needs to log in and set this couple straig...Someone needs to log in and set this couple straight! <BR/>I'd do it but I tend to be too long-winded and brash. <BR/><BR/>I love to see their responce as to why someone else should pay off their credit cards by overpaying for their Sh*t box!<BR/><BR/>Someone needs to point out to them WHY IN THE F*CK someone would want to pay so much when they so aptly pointed out is is half the cost to rent.<BR/><BR/>UGHHHH!!!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1164303169455646352006-11-23T17:32:00.000+00:002006-11-23T17:32:00.000+00:00Any of you bar partrons heard the saying "Go ugly ...Any of you bar partrons heard the saying "Go ugly early". It means grab what you can before you are left with nothing.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1164297047380274892006-11-23T15:50:00.001+00:002006-11-23T15:50:00.001+00:00I smell bullsh*t. I want to see the medical recor...I smell bullsh*t. I want to see the medical records. Brain tumors don't just 'go away' because you think positive. I'm not saying for sure that these people are liars but it sure seemed like it.<BR/><BR/>Even if they are not lying about the brain tumor this show still turned my stomach. It seems as obvious to me as it does to everyone else on this thread: lower the price and your dump will sell. But then Oprah would have had to think up a real issue to analyze and discuss on her banal, empty, sacharine show.Paul E. Mathhttps://www.blogger.com/profile/03719759088047080921noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1164295719300784412006-11-23T15:28:00.000+00:002006-11-23T15:28:00.000+00:00will they take #359,000?thats what its worth------...will they take #359,000?<BR/><BR/>thats what its worth<BR/><BR/>---------<BR/><BR/>Worth is a oxymoron it is only worth as much as the other person is willing to pay for it.Billhttps://www.blogger.com/profile/06623291271325261181noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1164292114017128372006-11-23T14:28:00.000+00:002006-11-23T14:28:00.000+00:00Why do people think they have an entitlement to ma...Why do people think they have an entitlement to make money?<BR/><BR/>How said real estate never goes down?<BR/><BR/>Alan Greenspan is a fucking pos.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1164292036033508362006-11-23T14:27:00.000+00:002006-11-23T14:27:00.000+00:00will they take #359,000?thats what its worthwill they take #359,000?<BR/><BR/>thats what its worthAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1164290681995669272006-11-23T14:04:00.000+00:002006-11-23T14:04:00.000+00:00I ment a bottoming out in the markets IE: Hedge,no...I ment a bottoming out in the markets IE: Hedge,not housingBillhttps://www.blogger.com/profile/06623291271325261181noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1164289028089607342006-11-23T13:37:00.000+00:002006-11-23T13:37:00.000+00:00did she get this tumor before they realized the ho...did she get this tumor before they realized the house would not sell or after?<BR/>Is that what we call greed now, a tumor?<BR/>Is that tumor preventing them from lowering the price?<BR/>Does the husband have a tumor too?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1164268488758829402006-11-23T07:54:00.000+00:002006-11-23T07:54:00.000+00:00Oh my f'ing heart is bleeding you greedy bastards....Oh my f'ing heart is bleeding you greedy bastards. What about the poor idiot who pays 650K and then get foreclosed on. Do you give a shit about that poor bastard Oprah?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1164264057748615692006-11-23T06:40:00.000+00:002006-11-23T06:40:00.000+00:00Wife extremely ill; check. Multiple offspring; ch...Wife extremely ill; check. Multiple offspring; check. House with mortgage; check. Full time steady job with health insurance; for what? I'm starting a kids video company and then we are going to Disney! <BR/><BR/>WTF people, get a clue. The wife putting herself under even more stress on top of her illness should do her health wonders.Jimhttps://www.blogger.com/profile/15694999087842838538noreply@blogger.com