tag:blogger.com,1999:blog-18675105.post1894938309364421553..comments2023-12-30T10:06:37.450+00:00Comments on HousingPANIC - The Housing Bubble Blog with an Attitude Problem, 2005 - 2008: HousingPANIC Stupid Question of the Daybloggerhttp://www.blogger.com/profile/06585266242070350399noreply@blogger.comBlogger58125tag:blogger.com,1999:blog-18675105.post-47756335239430915482008-03-13T23:34:00.000+00:002008-03-13T23:34:00.000+00:00Anonymous said... Well beyond 2 trillion when the ...Anonymous said... <BR/>Well beyond 2 trillion when the wheels really come off. What I don't understand is how these banks are going to recoup their losses in a mere 28 days and repay their loans when no one wants to borrow. Hey I know, buy gold this week, sell after Bernanke cuts next week and causes gold to go well over 1,000. Seriously, I can't wait until you see gold make a one day move like the Dow did on Tuesday. Probably before summer.<BR/><BR/>March 12, 2008 11:31 PM<BR/><BR/><BR/><BR/>It was loaned to cover the MASSIVE margin calls coming due March 24. I still think it will be end game by then and the 200B ain't gonna do shit...Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-27966177247192818482008-03-13T19:25:00.000+00:002008-03-13T19:25:00.000+00:00About 500-700B in losses.Most of those will be eat...About 500-700B in losses.<BR/><BR/>Most of those will be eaten by banks. They've already recognized 200B.<BR/><BR/>In actual cost to the gov't...maybe 100B for bailing out FNM/FRE.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-18373388179545249092008-03-13T04:49:00.000+00:002008-03-13T04:49:00.000+00:00Why don't the Bankers just take out a long term lo...Why don't the Bankers just take out a long term loan with the Feds or sell shares of stock . This idea that the taxpayers pay for all this folly ,especially when the banks made a lot of profits for years ,is just not fair . I am getting sick of the economy being contorted for the purpose of saving banks and gambler borrowers.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-53808790696313685302008-03-13T02:48:00.000+00:002008-03-13T02:48:00.000+00:00The answer is that you will never know the answer ...The answer is that you will never know the answer for certain. All gubbermint statistics are lies. The S&L crisis cost taxpayers approx. $400 billion in 1990 dollars. Revisionist history puts the total at $125 billion. This mess is easily ten times bigger. I say $4 T total public cost, $1.25 T reported as final tally.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-5523828880895011012008-03-13T02:47:00.000+00:002008-03-13T02:47:00.000+00:00Anon March 12, 2008 8:27 PM:I must be one of those...Anon March 12, 2008 8:27 PM:<BR/><BR/>I must be one of those imbeciles you were referring to. Was your outburst of 20-something cliches followed by a reference to others as hamsters intentional irony?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-30199136858353691952008-03-13T02:44:00.000+00:002008-03-13T02:44:00.000+00:00"Wage inflation is not possible when an Indian Sub..."Wage inflation is not possible when an Indian Subsidiary can do the work you do for pennies on the dollar compared to your salary."<BR/><BR/>In 2001 the selling point was that an Indian cost 20% of an American. In 2005 it was about 80%. Today companies are not seeing any advantage in India at all and are moving operations to the Philippines and to a lesser extent China. Companies started figuring out that a language barrier costs money.<BR/><BR/>Some companies have even decided that offshoring is a waste and are bringing jobs back, or are working with what is called "onshore offshore" companies - comparatively compensated management leading interns or newbies who work for cheap.<BR/><BR/>I hope these facts help ease the pain in your day...or if not, to prompt you to go learn about something before you repeat what your drinking buddies blather to you.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-27449814101883589422008-03-13T00:13:00.000+00:002008-03-13T00:13:00.000+00:00"And to the poster decrying Obama's 40% tax rate: ...<B>"And to the poster decrying Obama's 40% tax rate: Our taxes are going to have to go up no matter who is President. "</B><BR/><BR/>Sure thing genius. The economy is faltering, credit markets are frozen, and unemployment is on the rise. So let's ice the cake with a tax hike on workers! Can you spell D-E-P-R-E-S-S-I-O-N?<BR/><BR/>Do us all a favor - please don't vote.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-83948261557940240322008-03-12T23:31:00.000+00:002008-03-12T23:31:00.000+00:00Well beyond 2 trillion when the wheels really come...Well beyond 2 trillion when the wheels really come off. What I don't understand is how these banks are going to recoup their losses in a mere 28 days and repay their loans when no one wants to borrow. Hey I know, buy gold this week, sell after Bernanke cuts next week and causes gold to go well over 1,000. Seriously, I can't wait until you see gold make a one day move like the Dow did on Tuesday. Probably before summer.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-76682453933353217412008-03-12T23:20:00.000+00:002008-03-12T23:20:00.000+00:00If I make 200K, then 500K is alot easier since it ...<I>If I make 200K, then 500K is alot easier since it stays the same. Sure, other commodities/items will be more expensive, but at that level it's not so bad, you know? Yeah, the poor get screwed and savings get owned, it happens. But look at the statistics: for most people their home is their largest asset by far.</I><BR/><BR/>Oh. So you are anticipating your salary doubling in the near term? Really? And that logic makes sense to you?<BR/><BR/>My friend, as the other poster aluded to, we are in a global economy. Wages did not keep up with inflation over the past 7 years. Companies are expanding to cheaper markets and keeping domestic wages stagnant. So don't be looking for that 'amazing raise' anytime soon.<BR/><BR/>And being that house prices (and rents) ALWAYS corrolate with wages, you will see a correction in prices of the former. (And the latter in some of the overvalued rental markets)Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-24322090991688905322008-03-12T22:35:00.000+00:002008-03-12T22:35:00.000+00:00"Getting a new job that pays better" is not wage i..."Getting a new job that pays better" is not wage inflation. That is called getting a higher paying job, kinda like buying a bigger house or eating at more expensive restaurants.<BR/><BR/>Wage inflation means your boss gives you a 10% raise because inflation was 5%, and you earned the other 5% for your hard work. Wage inflation is not possible when an Indian Subsidiary can do the work you do for pennies on the dollar compared to your salary. So you take your 2% raise and are happy to still have a job, while milk & bread prices skyrocket.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-41720317692353340962008-03-12T22:32:00.000+00:002008-03-12T22:32:00.000+00:00Isn't it great when lenders do their job and don't...Isn't it great when lenders do their job and don't give loans to developers (using the Trump name)?<BR/>To bad lenders didn't turn down more developers or ask them to pay more of the tab .The planning departments didn't turn down the developers ,so the lenders just had to . Course they would of just tried to raise private capital for over-priced Condos we don't need.<BR/><BR/>But concerning the amount of the loss from this housing bust ,I think the loss will be the greatest for the middle/middle upper class of America. Taxes will be greater in the future ,inflation will be higher ,buying power will go down ,while the gamblers and crooked real estate industry gets off the hook .It's to bad that there won't be any real Justice because this baby is to big . When people see that Justice is meaningless to Feds and Congress and Senators etc, and crime and greed is rewarded ,the entire Country will take one more step downward into the darkness.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-42824339160907357862008-03-12T22:30:00.000+00:002008-03-12T22:30:00.000+00:00House prices will correct sooner or later. If poli...House prices will correct sooner or later. If politicians & the Fed keep messing with it we're talking about later like in 10 years or so. If they let the market take care of things it will be sooner, like in 2 years or so. In the end prices will fall, depending on local, 0-60%.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-25649914240773912292008-03-12T21:48:00.000+00:002008-03-12T21:48:00.000+00:00the answer is "c" - $1 trillion or more.the answer is "c" - $1 trillion or more.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-52958102751274260912008-03-12T20:43:00.000+00:002008-03-12T20:43:00.000+00:00BEN IS GONNA RIP OFF SAVERS AGAIN THIS MONTH MORE....<I>BEN IS GONNA RIP OFF SAVERS AGAIN THIS MONTH MORE.........</I><BR/><BR/>Not savers who listened to HP for years, as we told everyone to sell the cancer house, follow Schiff's book, to invest in precious metals and foreign currencies, and get the hell out of dollar.<BR/><BR/>I hope you're not trying to include those savers. We told you so wayyyy in advance; don't come trying to include us now with your financial failures. Lots of HP'ers are breezing through. Enjoy.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-48499650302808918162008-03-12T20:36:00.000+00:002008-03-12T20:36:00.000+00:00Yeah, the poor get screwed and savings get owned, ...<I>Yeah, the poor get screwed and savings get owned, it happens. But look at the statistics: for most people their home is their largest asset by far.</I><BR/><BR/>Not so fast, my naive & blindly optimistic friend:<BR/><BR/><B>Fewer new American millionaires<BR/>Report says the number of U.S. millionaires grew at its slowest rate since 2003 last year.<BR/><BR/>NEW YORK (CNN) -- The number of American households worth $1 million or more - not including the house itself - grew at the lowest rate in five years, according to a report released Wednesday.<BR/><BR/>"We had already tracked a steady decline in millionaires' investment optimism since mid-2007 on a variety of concerns including a slowing economy, rising energy costs and poor stock market conditions," said George Walper Jr., Spectrem Group president. "It now appears those concerns have become a reality for the wealthiest tiers of the U.S. population."</B><BR/><BR/>Still drinking the Almighty-Superpower-Best Nation In the World-God Is American-So Is Jesus Kool-Aid, eh?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-4463573949902129392008-03-12T20:27:00.000+00:002008-03-12T20:27:00.000+00:00Yep, that fake rally was a total dead cat bounce. ...Yep, that fake rally was a total dead cat bounce. Now back to reality, trolls. Back to losing your shirts on the rigged stock market, while being a mortgage slave to Arab bankers.<BR/><BR/>Those trolls are not so upbeat today, eh?<BR/><BR/>Huge nosedive coming up soon to erase all that fake rally from yesterday. That blip was just to fleece the sheep, like DOPES!<BR/><BR/><I>I'd like to share a revelation that I've had during my time here. It came to me when I tried to classify your species and I realized that you're not actually mammals.</I> We have three types of idiots, who are true financial imbeciles, hanging around here at HP:<BR/><BR/>1. The retards who believed in the house ownership (the Arab banker owns, really) scam.<BR/><BR/>2. The life-failures who keep investing in the stock market lows and listening to Cramer.<BR/><BR/>3. The low IQ who doesn't believe that 9-11 was an inside job.<BR/><BR/>Most of these types are Republicans, Baby Boomers, and are up to the wazoo in debt. But Gen Y doesn't get too far behind, as they've proven to be as dumbass as their Baby Boomer failures they call for parents, by bending over to Mr. Empty Suit Obama like sissy girls in love. It was on Myspace and Youtube, so it must be true and cool for me to be a clone! The rappers are endorsing him, so it must be good! Cramer and Kudlow vomited, so I'll swallow it to look smart at the water cooler!<BR/><BR/>No wonder this country is going down fast. Now go wave your Made-In-China flags and pay $5 for gas to your master Arabs who french-kiss the president you voted for. C'mon now, go on, be the obedient hamster you are.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-82775333683726395792008-03-12T20:24:00.000+00:002008-03-12T20:24:00.000+00:00Obama will freeze food and energy prices just like...Obama will freeze food and energy prices just like Venezuela and Zimbabwe. Then we can all stand in line since there will be a shortage of everything.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1483724020909790382008-03-12T20:22:00.000+00:002008-03-12T20:22:00.000+00:00stupid homedebtor said:Ummmm...of course you can? ...stupid homedebtor said:<BR/><BR/><I><BR/>Ummmm...of course you can? By doing that, you just end up lowering the value of your currency, duh. That's the whole point.<BR/><BR/>If I make $100K and my house is 500K, that hurts to pay.<BR/><BR/>If I make 200K, then 500K is alot easier since it stays the same<BR/></I><BR/><BR/>Just because the dollar crashes by 50% doesn't mean employers will give their workers a 100% raise. Why don't you go to your boss and ask for a 100% raise due to inflation?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-12024860124002256962008-03-12T20:17:00.000+00:002008-03-12T20:17:00.000+00:00Here is one way to inflate YOUR OWN salary:Find an...<I><BR/>Here is one way to inflate YOUR OWN salary:<BR/><BR/>Find another job - one that pays more.<BR/></I><BR/><BR/>Some people can do that, but how is the entire country going to change jobs for higher pay? The current average salary is what it is. If everyone got a raise, the cost of everything would go up by the same amount.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-11455288699547618732008-03-12T20:11:00.000+00:002008-03-12T20:11:00.000+00:00It should be $0, but it will probably be closer to...It should be $0, but it will probably be closer to $∞ (that's an infinity symbol if you can't make it out).<BR/><BR/>The Japanese are still digging out of their experience with a housing bubble 15 years ago. I don't think we are going to see quite such an extreme revaluation (e.g. commercial real estate in Ginza valued at 1/100th of the peak), but it should be noted that land value in some areas is roughly 1/3rd of what it was 15 years ago.<BR/><BR/>Ouch.<BR/><BR/>And to the poster decrying Obama's 40% tax rate: Our taxes are going to have to go up no matter who is President. How do you think McCain is going to be pay for the 100-year-Iraq-war (or the first 5 years of it conducted under Bush for that matter)? Please tell me another stimulus package, because that first one worked sooo well.Der Vandernder Yidhttps://www.blogger.com/profile/13342998988822145039noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-80271147038570167202008-03-12T19:14:00.000+00:002008-03-12T19:14:00.000+00:00By SHANNON BEHNKEN, The Tampa TribunePublished: Ma...By SHANNON BEHNKEN, The Tampa Tribune<BR/><BR/>Published: March 11, 2008<BR/><BR/>Updated: 03/10/2008 09:46 pm<BR/><BR/>TAMPA - For the past three years, the developers of Trump Tower Tampa searched coast to coast for a lender willing to finance the $300 million luxury condominium.<BR/><BR/>Now, after being turned down by numerous traditional lenders and 10 hedge funds, they're poised to walk away and sell the waterfront site along Ashley Drive in downtown Tampa, the project's developer says.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-21085812123079706442008-03-12T18:59:00.000+00:002008-03-12T18:59:00.000+00:00in that photo Ben looks like a poster child for be...in that photo Ben looks like a poster child for bearsandleather.com, don't go there, by the way. you've been warned.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-6044526409916432292008-03-12T18:50:00.000+00:002008-03-12T18:50:00.000+00:00Anonymous failure said: You can inflate prices of ...Anonymous failure said: <BR/><I>You can inflate prices of goods, but you can't inflate salaries in a global economy.</I><BR/><BR/>Ummmm...of course you can? By doing that, you just end up lowering the value of your currency, duh. That's the whole point.<BR/><BR/>If I make $100K and my house is 500K, that hurts to pay.<BR/><BR/>If I make 200K, then 500K is alot easier since it stays the same. Sure, other commodities/items will be more expensive, but at that level it's not so bad, you know? Yeah, the poor get screwed and savings get owned, it happens. But look at the statistics: for most people their home is their largest asset by far.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-85743677811515439402008-03-12T18:45:00.000+00:002008-03-12T18:45:00.000+00:00Oil prices hit a record $110 a barrel Wednesday af...<B>Oil prices hit a record $110 a barrel Wednesday afternoon, despite inventory report showing a big rise in supply.</B><BR/><BR/>Mission Accomplished!<BR/><BR/>Signed,<BR/><BR/>Bush & Cheney<BR/><BR/>PS: You voted for us TWICE. Don't come crying now, suckers.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-18179455159884406462008-03-12T18:38:00.000+00:002008-03-12T18:38:00.000+00:00D - $2 trillion plus.But is it really $2 trillion ...D - $2 trillion plus.<BR/><BR/>But is it really $2 trillion if the dollar is essentially worthless?<BR/><BR/>Germany circa 1922. Who would've thought it here?Anonymousnoreply@blogger.com