tag:blogger.com,1999:blog-18675105.post116974023946832053..comments2023-12-30T10:06:37.450+00:00Comments on HousingPANIC - The Housing Bubble Blog with an Attitude Problem, 2005 - 2008: Home sales crash worst in 24 years. The Corrupt David Lereah says: "It appears we have established a bottom. There was no bubble burst in 2006"bloggerhttp://www.blogger.com/profile/06585266242070350399noreply@blogger.comBlogger76125tag:blogger.com,1999:blog-18675105.post-1169911286113040962007-01-27T15:21:00.000+00:002007-01-27T15:21:00.000+00:00How dare you all disparage widget man and the este...How dare you all disparage widget man and the esteemed DL. After all this is the 3rd best year for home sales EVER!. You JBR's are now forever priced out! I'm going to run out and get me a payment option arm and get the most expensive house the lendors will let me buy! After it appreciates 15% a year for 3 years I'll be rich! Mabey I'll get 2, no 3, no 5 houses. I'm counting the days to retirement! <BR/><BR/>just kidding.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1169855914301250412007-01-26T23:58:00.000+00:002007-01-26T23:58:00.000+00:00I guess the NASDAQ at 5250 in March 2000 was an in...I guess the NASDAQ at 5250 in March 2000 was an indicator of the great things to come from 2000-2003.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1169844178937132742007-01-26T20:42:00.000+00:002007-01-26T20:42:00.000+00:00"See renters, stock prices are an indicator of the..."See renters, stock prices are an indicator of the FUTURE not the past. 2006 was a shitty year for anyone involved in housing including builders. Looking forward Wall St. is giving a definite thumbs up for 2007.<BR/><BR/>Enjoy the 1 bed/1 bath apt renters, you'll be there anotehr 20 years."<BR/><BR/>Definite thumbs up??? Thumbs up the bunghole is more like it.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1169822665601092942007-01-26T14:44:00.000+00:002007-01-26T14:44:00.000+00:00"See renters, stock prices are an indicator of the..."See renters, stock prices are an indicator of the FUTURE not the past. 2006 was a shitty year for anyone involved in housing including builders. Looking forward Wall St. is giving a definite thumbs up for 2007.<BR/><BR/>Enjoy the 1 bed/1 bath apt renters, you'll be there anotehr 20 years."<BR/><BR/>Stock prices today (speaking broadly - there are exceptions) speak to the idiocy of the masses and their inability to think independently or critically.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1169819650539119142007-01-26T13:54:00.000+00:002007-01-26T13:54:00.000+00:00He makes me want to vomit.No seriously, I start he...He makes me want to vomit.<BR/>No seriously, I start heaving when I think of that bumbling fool.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1169810071504694492007-01-26T11:14:00.000+00:002007-01-26T11:14:00.000+00:00Hey, wait a minute! The Next Big Widget Thing is o...Hey, wait a minute! <BR/><BR/>The Next Big Widget Thing is of course tulips. I already reserved a call option for three million tulips from Holland. You guys are so late. :) :) I am going to be soooo rich! Flower power!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1169800469262814242007-01-26T08:34:00.000+00:002007-01-26T08:34:00.000+00:00>Yet YTD DHI is up 11% and >38% over the past 6 >m...>Yet YTD DHI is up 11% and >38% over the past 6 >months.<BR/><BR/>I see approximately 15 in DHI's future,just quickly eyeballing that chart. I'd give a more accurate number but don't want to waste my time on it. DHI is toast, regardless of the recent, and predictable, dead cat bounce.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1169794190061619322007-01-26T06:49:00.000+00:002007-01-26T06:49:00.000+00:00At this point, I'd say that Baghdad Bob had an eas...At this point, I'd say that Baghdad Bob had an easier job than Dave Lereah. <BR/><BR/>I thought traders were supposed to be smart. There's a lot of people with very thick skulls that keep buying homebuilders and sub prime mortgage lenders that are keeping those stocks levitated.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1169790678174284132007-01-26T05:51:00.000+00:002007-01-26T05:51:00.000+00:00There's nothing wrong with a janitor buying a $750...There's nothing wrong with a janitor buying a $750,000 house if he wants it. It's his American Dream, so you bitter jealous renters just leave these homeowners aloneAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1169786687210458732007-01-26T04:44:00.000+00:002007-01-26T04:44:00.000+00:00In the linked article below, David is quoted as sa...In the linked article below, David is quoted as saying, "With fingers and toes crossed, it appears that we have hit bottom in the existing home market."<BR/><BR/>Make sure the link is all on one line.<BR/><BR/>http://money.excite.com/jsp/nw/<BR/>nwdt_rt_top.jsp?cat=TOPBIZ&feed=<BR/>ap&src=601§ion=news&news_id=<BR/>ap-d8mskf6g0&date=20070125&alias=<BR/>/alias/money/cm/nwAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1169783765262638462007-01-26T03:56:00.000+00:002007-01-26T03:56:00.000+00:00Anonymous said..."See renters, stock prices are an...Anonymous said...<BR/><I>"See renters, stock prices are an indicator of the FUTURE not the past. 2006 was a shitty year for anyone involved in housing including builders. Looking forward Wall St. is giving a definite thumbs up for 2007."</I><BR/>------------------------------------<BR/><BR/>"It is difficult to get a man to understand something when his salary depends upon his not understanding it." - Upton Sinclairaz_mtbhttps://www.blogger.com/profile/04620444887442473071noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1169782804281288662007-01-26T03:40:00.000+00:002007-01-26T03:40:00.000+00:00I'm also pleased to announce the formation of the ...I'm also pleased to announce the formation of the Widget Listing Service, or WLS as it will be known in lawsuits. The WLS will be a closed, monopolistic classified service available only to members of National Association of Widget Makers (NAW) for the purpose of selling your widgets.<BR/><BR/>Each regional WLS will be independently owned to avoid implicating other WLS's should wrongdoing be detected.<BR/><BR/>These WLS's will be used to control all price data on widgets, and will report this bogus data to the press and the government. Neither of them will question the integrity of our numbers, because they're to lazy to count anything themselves.<BR/><BR/>Effective immediately, you will be a able to pay a fee and relist any widgets that you have for sale that have lingered on the market without buyers. We will also have built in security weaknesses in the software system that will allow you to change the serial numbers on widgets to further confuse customers.<BR/><BR/>Last, as soon as all widgets receive a sales contract, you should immediately change the retail widget price to match the contract sales price, so that we may continue to report that widgets are being sold for 100% of their average sales prices to list pricres.<BR/><BR/>Thanks for your support, and we're working hard to support you in the field.Bloggerhttps://www.blogger.com/profile/07698536465854883850noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1169782604727872072007-01-26T03:36:00.000+00:002007-01-26T03:36:00.000+00:00Bring back Jerry Ford and W.I.N.!!!Bring back Jerry Ford and W.I.N.!!!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1169780189332570192007-01-26T02:56:00.000+00:002007-01-26T02:56:00.000+00:00As the head economist of the National Association ...As the head economist of the National Association of Widget Makers, or NAW as most people know us, I'd like to remind our 1.3 million dues paying member that it is once again time to cough up some annual membership bucks.<BR/><BR/>Yes, I do realize things have been a little tough on widget makers out in the field this year, but I'm going to spend $40 million dollars of widget bucks to reignite sales interest in 2007.<BR/><BR/>Stay tuned for our newest TV campaign theme "it's a great time to buy and sell widgets!"<BR/><BR/>Thanks for your continued support....Bloggerhttps://www.blogger.com/profile/07698536465854883850noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1169778113132506622007-01-26T02:21:00.000+00:002007-01-26T02:21:00.000+00:00To the person who wrote the long and involved widg...To the person who wrote the long and involved widget analogy:<BR/><BR/>That was friggin' funny!<BR/>Sadly, it was also true.<BR/>Thoughtful and insightful as well.<BR/><BR/>Funny for the "bitter renters" like me!<BR/>Sadly true for the home/debt/slaves.<BR/>Thoughtful & insightful for us all!<BR/><BR/>Thanks for sharing!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1169776958454016882007-01-26T02:02:00.000+00:002007-01-26T02:02:00.000+00:00"See renters, stock prices are an indicator of the..."See renters, stock prices are an indicator of the FUTURE not the past."<BR/><BR/>Sorry Skippy. That's just Goldman Sachs squeezing some shorts for easy money. Happens all the time. You're not invited. Next they'll shank it to finish off the other half of the tards who think the stock market has anything to do with fundamentals, including you.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1169775326968823062007-01-26T01:35:00.000+00:002007-01-26T01:35:00.000+00:00It appears the "all is well" posts are coming from...It appears the "all is well" posts are coming from just 1 person. <BR/>If you believe we've seen the bottom, then are you putting $ on that horse?<BR/>I shorted Lennar(LEN) yesterday at $53 and change and plan to sit on that short for awhile. The stock took a nice hit today following the release of Dec's. existing home sales and I fully expect such news to only get worse. <BR/>Between 1 and 1 1/2 trillion worth of adjustables due to reset this year. Even if interest rates hadn't have gone up recently, how many "owners" would be ready to make "real" payments? Unfortunately for them, rates have gone up, inventory has gone up, prices are dropping and hope is declining for Fed cuts anytime soon.<BR/>So, Mr/Mrs "all is well" please explain your position with something a little more substantial than this widget BS.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1169773511488066302007-01-26T01:05:00.000+00:002007-01-26T01:05:00.000+00:00Thanks 11:46:24 PM for the link to the stock price...Thanks 11:46:24 PM for the link to the stock prices of DR Horton and most of the related homebuilders and home related companies.<BR/><BR/>Anon 11:29:03 PM, what are the prices of all the other companies predicting? What future were 1929 stock prices predicting? What future was the nasdaq predicting in 1999?<BR/><BR/>Enjoy renting that money from the bank, FB, you'll be doing it for another 20 years.Paul E. Mathhttps://www.blogger.com/profile/03719759088047080921noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1169773361757627302007-01-26T01:02:00.000+00:002007-01-26T01:02:00.000+00:00Sure, 2006 was the 3rd best year, 2007 will be the...Sure, 2006 was the 3rd best year, 2007 will be the 4th best year, 2008, the 5th best year etc. For some reason the trolls on this board can't see the TREND, which is most definitely DOWN.<BR/><BR/>"2006 was a shitty year for anyone involved in housing including builders. Looking forward Wall St. is giving a definite thumbs up for 2007."<BR/><BR/>You are a total idiot. The stock market is a TERRIBLE indicator of future activity and doesn't predict anything. You should read Mish's blog for a complete breakdown of good, not so good, and bad future indicators. M' (prime) is a great indicator and it says "recession dead ahead". 10Yr to 3M yield curve is pretty good and it says "recession dead ahead." M2 is average and M3 is worthless. The stock market has no future predictive capabilities at all and is essentially random in this regard. It's more of a trailing indicator, if anything.<BR/><BR/>I don't have to remind you that the stock market will react negatively to the coming recession.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1169772345027159142007-01-26T00:45:00.000+00:002007-01-26T00:45:00.000+00:00If the number of widgets sold decreases and you're...If the number of widgets sold decreases and you're still making widgets, doesnt the widget pyramid scheme collapse thereby crushing the last few widget buyers.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1169770243222713702007-01-26T00:10:00.000+00:002007-01-26T00:10:00.000+00:00Anon 11:29:03, they may be up from the last 6 mont...Anon 11:29:03, they may be up from the last 6 months, but these are YoY LOSSES for each builder :<BR/><BR/>DHI - -24.17%<BR/>CTX - -26.71%<BR/>PHM - -15.81%<BR/>KBH - -30.26%<BR/>NVR - -12.39%<BR/>TOL - -3.67%<BR/>RYL - -23.76%<BR/><BR/>They brought up the price by shedding costs (workers and land) and putting "fake" sales in the books (cancellation is WAY up). Stocks don't predict the housing market.<BR/><BR/>Today I saw 2 houses come BACK ON the market and a $25K price drop on another. Another 2 came online as well. People are going to start putting their houses up as spring arrives...hope the buyers are willing! LOL!<BR/><BR/>Oh, 2BR/2BA...mortgage would be twice as much as rent. Oh, then add taxes, insurance, and maintenance. Add this to a month-to-month rent...yeah, I feel terrible.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1169769822937814902007-01-26T00:03:00.000+00:002007-01-26T00:03:00.000+00:00anon said:man did you you all miss the point of th...anon said:<BR/>man did you you all miss the point of the widgets story. The more I read this blog the more I realize how utterly dense you people are. <BR/><BR/>---------------------------------<BR/>Would please be so kind and lower yourself to our utterly dense level and explain in greater detail what you really meant, i'm sure a genius like yourself knows how to talk to little people like us WPersAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1169769520235796432007-01-25T23:58:00.000+00:002007-01-25T23:58:00.000+00:00It's a market miracle, home prices fail to fall ;-...It's a market miracle, home prices fail to fall ;-)<BR/><BR/> <BR/><BR/>For all of 2006, sales fell 8.4% to 6.48 million, the third highest total ever, but the largest percentage decline since 1982. <BR/>For the year, median sales prices rose 1.1%. <BR/>"There was no bubble burst in 2006," Lereah said. "We know the speculative buyers left in 2006," he said.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1169769185184260382007-01-25T23:53:00.000+00:002007-01-25T23:53:00.000+00:00I overpaid for a house. I thought I was cool. I gu...I overpaid for a house. I thought I was cool. I guess I was wrongAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1169768958702359592007-01-25T23:49:00.000+00:002007-01-25T23:49:00.000+00:00Why buy now when prices are still bubbly? Would yo...Why buy now when prices are still bubbly? Would you pay $45K for a Ford Taurus that's worth $17K? So why pay $400K for a house that was worth $200K a few years ago? That house is 3 years older, so it should have come down in value, not up.<BR/><BR/>Just like a used car loses value with usage and time, so should a house.Anonymousnoreply@blogger.com