tag:blogger.com,1999:blog-18675105.post1413631418058279676..comments2023-12-30T10:06:37.450+00:00Comments on HousingPANIC - The Housing Bubble Blog with an Attitude Problem, 2005 - 2008: Comedy routine on "rent or own" (too bad the 'owners' don't realize yet they're 'owned'!)bloggerhttp://www.blogger.com/profile/06585266242070350399noreply@blogger.comBlogger30125tag:blogger.com,1999:blog-18675105.post-32042744973274689352007-04-10T07:05:00.000+01:002007-04-10T07:05:00.000+01:00"My condo is owned free and clear. I checked the t..."My condo is owned free and clear. I checked the tax records and it was sold for $27,000 dollars in 1997. It's assessed value is now $179,000.<BR/><BR/>Average rents for a one bedroom unit in this area were about 1100-1350 month. "<BR/><BR/>A 600% increase in just 10 years is not a healthy sign and it's very unusual even for this bubble. Also, the rents don't match the condo prices.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-26739158190050170722007-04-10T07:02:00.000+01:002007-04-10T07:02:00.000+01:00"Then again there were a million Mexicans looking ..."Then again there were a million Mexicans looking for paths across an unfenced border and they cannot fit more than about thirty Mexicans in your average sized house. I figure these people will need to live somewhere and they are not making new land"<BR/><BR/>Would you please give the "they are not making new land" cliche a rest!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-52892786107320507872007-04-10T01:16:00.000+01:002007-04-10T01:16:00.000+01:00Hey HPers,If you are all so freking sure that ther...Hey HPers,<BR/><BR/>If you are all so freking sure that there is a crash coming, I assume you are all heavily invested in the housing futures market based on the Case-Shiller Index right?<BR/><BR/>I mean shit it's like knowing the lottery numbers ahead of time for you guys. You all have hundreds of thousands in cash and you know absolutely without hesitation that housing will tank.<BR/><BR/>If you're not, why not?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-89010185739293993522007-04-10T01:06:00.000+01:002007-04-10T01:06:00.000+01:00BWA HA HA HA!!It's funny ciz it's true. Renters ar...BWA HA HA HA!!<BR/><BR/>It's funny ciz it's true. Renters are losers. End of story.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-73347594791311717772007-04-09T15:55:00.000+01:002007-04-09T15:55:00.000+01:00That Craigslist ad is a good start. 70% still see...That Craigslist ad is a good start. 70% still seems too high for me though.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-71468692066413502842007-04-09T14:41:00.000+01:002007-04-09T14:41:00.000+01:00I like this CraigsList ad! Most people don't know ...I like this CraigsList ad! Most people don't know it yet, but it's true. I really do believe this RE downturn will be the worst since the great depression. <BR/><BR/>I think prices will skip a decade and drop down to 1980's levels. I know this is hard to believe because it has never happened...it will happen because the USA has only service oriented jobs (retail)and we outsourced all our manufacturing and paper pushing jobs to other parts of the world. <BR/><BR/>Even back in the 1990's house prices were too high-but now with the cost of insurance, taxes and maintance, this will squeeze homeowners dry. <BR/><BR/>Watch out below.Miss Goldbughttps://www.blogger.com/profile/10801986805626811706noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-18403850569086564552007-04-09T06:15:00.000+01:002007-04-09T06:15:00.000+01:00Check out this Craigslist ad. It seems like a goo...Check out this Craigslist ad. It seems like a good way to get sellers and potential buyers to think about what they should be doing... Selling fast and buying low. We should all post ads just like it: http://inlandempire.craigslist.org/rfs/308025908.htmlAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-20354444684596900842007-04-08T16:32:00.000+01:002007-04-08T16:32:00.000+01:00Those million janitors and fruitpickers won't be a...Those million janitors and fruitpickers won't be able to afford a $300K house - unless they move 15 people in there next door to you. What will be the property value of your house when there are junked out El Caminos and soiled mattresses sitting out on the lawns of the houses on your street?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-75622560724288591452007-04-08T14:22:00.000+01:002007-04-08T14:22:00.000+01:00It is suckers like this guy who are keeping prices...It is suckers like this guy who are keeping prices from dropping faster than they already have. But drop they will.<BR/>__________<BR/>Drop they have already. In my building my floor plan is available for 135 which is a 2004 price, for sale by a fliptard realtor.<BR/><BR/>Look out below.FlyingMonkeyWarriorhttps://www.blogger.com/profile/01770643973751363527noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-81493941106732154522007-04-08T01:05:00.000+01:002007-04-08T01:05:00.000+01:00"The backyard was 200 square feet, closed in by a ..."The backyard was 200 square feet, closed in by a fence."<BR/><BR/>200 sq. ft.! LMAO. Add a picnic table and a lawn chair and your about out of space. Wonderful bargain.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-16294273132178432007-04-08T00:28:00.000+01:002007-04-08T00:28:00.000+01:00My condo is owned free and clear. I checked the t...My condo is owned free and clear. I checked the tax records and it was sold for $27,000 dollars in 1997. It's assessed value is now $179,000.<BR/><BR/>Average rents for a one bedroom unit in this area were about 1100-1350 month. <BR/><BR/>Maybe I am a sucker for not selling out and waiting to see if prices will crash, I worry sometimes as the inventories of unsold homes continue to grow, most of those were the homes of my rich neighbors. <BR/><BR/>Then again there were a million Mexicans looking for paths across an unfenced border and they cannot fit more than about thirty Mexicans in your average sized house. I figure these people will need to live somewhere and they are not making new land.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-80983076080656698662007-04-07T23:58:00.000+01:002007-04-07T23:58:00.000+01:00Are you sure you'll get the handle?_____________No...Are you sure you'll get the handle?<BR/>_____________<BR/>No, I am not. Not at all.<BR/><BR/>I went in with my eyes open, because I have been an HPer since Oct. 05. HPers know this story, so to them skip this post.<BR/><BR/>That said, If the dollar is going down, and I think it is, I shall be in good shape as far as this small amount of debt relative to the purchasing power of the dollar in the future. My mort. is $713.00 @ mo. 30 yr. fixed, who cares what is coming next year. Again, I am hunkered down. What is the dif between your savings depreciating and/or your home devaluing. You can not live in your savings.<BR/><BR/>The loss is relative, in a my home, for example @ $180,000.00, going down to say 50% to $90,000.00 I still have only lost my DP and I do not owe more than it is worth. If I had bought a $250,000.00 home at 125% of value or HELOC'ed my dead equity to above the appraised value, then that is some serious money lost and the I am a FB who has no where to LIVE!!!!<BR/><BR/>I have a HOME, new everything (no granite counter tops, can't bleach it, don't want high maintenance), gated, and I may lose my down payment/my 'dead equity' (for a time), but I hate the thought of moving again or another crazy landlord more. I reckon my debt will get lighter as the USD tanks.<BR/><BR/>Everything else is paid for!!!<BR/>Ha, my new car gets 40 mpg and my utility bill is $60.00 a month for a penthouse in the city. Sushi Bar and Great Restaurant/Bar right across the street. <BR/><BR/>Anyway, I will leave this place and my giant yacht to my children when I am gone, so no worries.FlyingMonkeyWarriorhttps://www.blogger.com/profile/01770643973751363527noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-52953519424249711432007-04-07T21:41:00.000+01:002007-04-07T21:41:00.000+01:00FMW, I don't agree with this guys logic at all.I g...FMW, I don't agree with this guys logic at all.<BR/><BR/>I guess he didn't say what his offer on one of those properties would be so that might change things a bit. Like if he lowballs at a 50% reduction off asking price perhaps that would be okay.<BR/><BR/>But then again, how does he really know the price is right when he doesn't know anything about average rents and average incomes? These are fundamentals that should go into your decision if you think you're an 'investor'.<BR/><BR/>It is suckers like this guy who are keeping prices from dropping faster than they already have. But drop they will.Paul E. Mathhttps://www.blogger.com/profile/03719759088047080921noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-45752292013674672982007-04-07T16:35:00.000+01:002007-04-07T16:35:00.000+01:00"It's been on the market for six months already," ..."It's been on the market for six months already," said the realtor, "so you've probably got some room in the price. Also, they'll probably pay closing costs for you."<BR/><BR/>All this tells me the market is anything but overvalued.<BR/><BR/>Huh???<BR/><BR/>Everything you found points to the market being overvalued. Why would you be able to negotiate price and closing costs if it were not overvalued?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-86207994581765172542007-04-07T16:29:00.000+01:002007-04-07T16:29:00.000+01:00A great demonstration of the devolution of wittici...A great demonstration of the devolution of witticismAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-45238530787893674912007-04-07T13:41:00.000+01:002007-04-07T13:41:00.000+01:00"American consumers are by, and large, managing de..."American consumers are by, and large, managing debt well."Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-37825582864141687442007-04-07T13:31:00.000+01:002007-04-07T13:31:00.000+01:00That cat is funny. When he does start making some ...That cat is funny. When he does start making some money, I hope he remembers to always stay as cool as he is now.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-38023443018797904882007-04-06T21:44:00.000+01:002007-04-06T21:44:00.000+01:00Catch the falling knife?Are you sure you'll get th...Catch the falling knife?<BR/><BR/>Are you sure you'll get the handle?<BR/><BR/>Or would it be easier to watch it fall a bit longer and then safely pick it up off the floor........along with ten other knives on the floor.<BR/><BR/>Thanks for the thought-provoking post, monkeywarriorAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-75415971008432667702007-04-06T21:05:00.000+01:002007-04-06T21:05:00.000+01:00you'll do fine flyingmunky. _____________Thank you...you'll do fine flyingmunky. <BR/>_____________<BR/><BR/>Thank you. I did not buy the condo at the beach in the story above, I bought a $180,000.00 condo downtown Orlando for $148,000.00 from a FB at peak after I sold, at peak and made $35,000 cash for a house I had for 6 months. Only owe $99,000, no crazy landlord and not going anywhere. <BR/><BR/>I am still a bubble believer, and am hunkered down for the long haul.<BR/>My home can withstand 145 mph winds and insurance is included in the HOA.<BR/><BR/>Same unit 1/2 mile downtown, $300,000.00. I should be okay as I I did not buy a McMansion, and so can't loose as much relatively speaking.<BR/><BR/>It is just a place to hang my hat, but in a mini pocket boom area.<BR/><BR/>We shall see.<BR/><BR/>My next big purchase is a boat so I can live a board. I plan to buy at the bottom, according to Mish and Keith and HPers call.<BR/><BR/>Small city house, big boat. Yea!FlyingMonkeyWarriorhttps://www.blogger.com/profile/01770643973751363527noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-8389503058061674352007-04-06T20:22:00.001+01:002007-04-06T20:22:00.001+01:00ROCHESTER, NYArea's home sales hit soft spot6 perc...ROCHESTER, NY<BR/><BR/>Area's home sales hit soft spot<BR/><BR/>6 percent drop for March breaks 2007 momentum<BR/><BR/>Mary Chao<BR/>Staff writer<BR/><BR/>Post Comment:<BR/><BR/>'soft spot' yea right!<BR/><BR/>(April 6, 2007) — After two months of double-digit gains, area home sales fell almost 6 percent in March, the Greater Rochester Association of Realtors said Thursday, raising fresh questions about the real estate market's direction.<BR/><BR/>There were 893 closings during the month, down from 947 in March 2006. Prices rose, though, with a median sale price of $109,900 vs. $100,000 a year earlier.<BR/><BR/>The number of houses listed for sale across the region dropped 3.6 percent in March. And the number of purchase offers accepted in March slid almost 17 percent from a year earlier.<BR/><BR/>The market has zig-zagged since August, slumping and then rebounding. The latest figures indicate that the market is more balanced than it had been last fall, favoring neither buyers nor sellers, said Sam Morreale of Nothnagle Realtors.<BR/><BR/>Because the number of closings generally is based on purchase offers that were accepted two months earlier, some brokers said March's downturn could have been weather-related, citing a wintry January.<BR/><BR/>"Weather and interest rates affect home sales here," Morreale said.<BR/><BR/>Houses in good condition and priced appropriately are still selling quickly, Morreale said. "There's a brisk market for those, but there are not as many of them."<BR/><BR/>March may be an off month, said John Antetomaso, Greater Rochester Association of Realtors president. "The last few weeks have been tremendous."Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-29876148420053664202007-04-06T20:22:00.000+01:002007-04-06T20:22:00.000+01:00This video below tells us all !!!Fires, foreclosur...This video below tells us all !!!<BR/><BR/>Fires, foreclosures, high taxes plague NT neighborhood<BR/><BR/>April 4th, 2007<BR/><BR/>With stunning views, abundant trees and manmade lakes, theres hardly a prettier place in North Texas than Lake Ridge. On the southwest edge of Cedar Hill, the developments custom homes on oversized lots make a clear statement of prosperity. <BR/><BR/>http://www.wfaa.com/video/wfaageneral-index.html?nvid=133491&shu=1Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-81489077501690840622007-04-06T19:55:00.000+01:002007-04-06T19:55:00.000+01:00Besides, what "beach" is there in Jacksonville? No...<I>Besides, what "beach" is there in Jacksonville? Not exactly known as a tourist mecca.</I><BR/><BR/>That's exactly right and Fernandina Beach is the biggest redneck beach of them all. It's white trash and awful. There are houses literally 50 feet from the ocean that are boarded up shacks. It's so bad that even the people of Jacksonville consider it an overly redneck town (which is saying something) Don’t get me wrong, Fernandina Beach is a fun little beach town if you want to slum-it, but it is very redneck and trashy.David in JAXhttps://www.blogger.com/profile/09371542144837323413noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-91006421008346572422007-04-06T18:34:00.000+01:002007-04-06T18:34:00.000+01:00Yea, thats why in Tucson, AZ you see contractors b...Yea, thats why in Tucson, AZ you see contractors beating on doors in neighborhoods and leaving flyers basically begging for work. Never used to see this until the past month or two. Hmmm, wonder why?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-23804937148498121182007-04-06T16:21:00.000+01:002007-04-06T16:21:00.000+01:00you'll do fine flyingmunky. you'll just be in that...you'll do fine flyingmunky. you'll just be in that house for a long time. maybe that's what you want. if so good on you!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-28369552604547334752007-04-06T16:11:00.000+01:002007-04-06T16:11:00.000+01:00I don't know. Jacksonville is a poor redneck cous...I don't know. Jacksonville is a poor redneck cousin of Miami and S. Florida. A retarded inbred second cousin to Naples and SW Florida.<BR/><BR/>Prices there are alot higher.<BR/><BR/>I live in Georgia...you can buy a nice house (brick, w/ garage) on an acre of land for $100/sq foot. Starter shacks like the ones in San Diego selling for 700K are about 80-120K here. <BR/><BR/>So some places in flyover country the bubble missed.<BR/><BR/>Besides, what "beach" is there in Jacksonville? Not exactly known as a tourist mecca.Anonymousnoreply@blogger.com