tag:blogger.com,1999:blog-18675105.post7573497814086907688..comments2023-12-30T10:06:37.450+00:00Comments on HousingPANIC - The Housing Bubble Blog with an Attitude Problem, 2005 - 2008: OK, pretend you're a realtor...bloggerhttp://www.blogger.com/profile/06585266242070350399noreply@blogger.comBlogger75125tag:blogger.com,1999:blog-18675105.post-58294337762108339822007-12-31T01:52:00.000+00:002007-12-31T01:52:00.000+00:00My wifes nephew just got into realtwhorenessWow, w...<I>My wifes nephew just got into realtwhoreness</I><BR/><BR/>Wow, what a great career move.<BR/><BR/>Actually I like it - I bought a house in 11/2005, now I know of somebody who has worse timing than me!bobnhttps://www.blogger.com/profile/07715238134585125684noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-45989134792735917062007-12-30T05:37:00.000+00:002007-12-30T05:37:00.000+00:00Tell us why we should invest in .... stocks, bonds...<I>Tell us why we should invest in .... stocks, bonds, currencies, commodities, cd's or any other asset class.</I><BR/><BR/>Because there's not telling what will happen to thse (possibly excepting the CDs) with everybody saying we're going to hell, but nobody agreeing on whether we're going to inflation-hell or deflation-hell.<BR/><BR/>Admittedly they will all do better than real estate near term.<BR/><BR/>But here's a funny thought - if we have a hyperinflation, what is the hedge against that - perhaps a house?<BR/><BR/>Nah! That would be crazy. (Disclaimer: EVERYTHING IS CRAZY! I'M CRAZY!)bobnhttps://www.blogger.com/profile/07715238134585125684noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-80208371761606593602007-12-29T22:56:00.000+00:002007-12-29T22:56:00.000+00:00Fractional ownership? They have a name for that; ...Fractional ownership? They have a name for that; Its called a timeshare, and may be the only market more in the dumps than housing. On most of them for the annual "maintenance fee" alone you could stay in a nice Best Western for a week and not have the loan for the inital purchase.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-56798536349635313302007-12-29T20:28:00.000+00:002007-12-29T20:28:00.000+00:00Which country is $9 trillion in debt? Soon, we wil...Which country is $9 trillion in debt? Soon, we will be just like the FB's and the entire country will default just like Brazil and Argentina did in the 1990's. We will become a banana republic where people carry around bundles of $5000 bills to buy groceries and there will be little personal credit. Who's fault is it? Mostly the lenders who gave credit to deadbeat ghetto and trailer park trash so they could move into flimsy McMansions and buy a bunch of plasma TVs and other assorted crap. What do you expect to happen when you give heroin to loser junkies?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-41789906571722110092007-12-29T18:14:00.000+00:002007-12-29T18:14:00.000+00:00In response, the US used to be ranked first or sec...In response, the US used to be ranked <BR/>first or second in gdp/capita, and the reason it's ranked ninth NOW has much more to do with the weakened dollar vis-a-vis other currencies rather than who's sitting on oil, etc. The dollar index has declined 38% since 2002 (63% against the EURO). <BR/><BR/>Don't know what the future will bring, but that's where we ARE. <BR/><BR/>Not sure what dailykos has to do with it, karnak.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-41365716272634332902007-12-29T17:44:00.000+00:002007-12-29T17:44:00.000+00:00ICEMAN,"Since you are visiting this place today, I...ICEMAN,<BR/><BR/>"Since you are visiting this place today, I could tell your a person of great intelligence".<BR/><BR/>$600,000 is a bargain for this place, imagine all the wonderful parties you could have here.<BR/><BR/>There is plenty of available parking (only 6 of 300 units sold)<BR/>and what an excellent view!! (drug dealers and hookers in background)<BR/><BR/>This area is booming there is no crash. <BR/><BR/>Nonsense, of course it is affordable and you can always refinance in a year.<BR/><BR/>(Client starts walking away.....)<BR/><BR/>WAIIITTT!!!!<BR/>THE CHINEESE ARE GOING TO INVADE US IF WE DONT SELL 4 MILLION HOMES THIS YEAR. BE AMERICAN DO YOUR PART FOR YOUR COUNTRY, THERE IS GOING TO BE AN ANNOUNCEMENT IN 45 DAYS SO YOU HAVE TO ACT FAST BEFORE HOME PRICES GO UP!!!!<BR/><BR/>PLEASE PLEASE PLEASE YOU HAVE TO BUY NOW OR WE WILL ALL DIE.!!!<BR/><BR/>MY ASSISTANT BLOWFLY WILL SUCK YO @@@@!!!!!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-22231144331764000202007-12-29T16:58:00.000+00:002007-12-29T16:58:00.000+00:00In NYC realtors are telling people that Europeans ...In NYC realtors are telling people that Europeans are ready to buy - after all they're 1/2 price for someone with Euros. They're also telling people they can cash out and move to the suburbs where things aren't moving and there are bargains to be had. To a certain extent there is some validity to this - but I am starting to feel NYC slipping a little. Friends that live there are no longer living under the illusion that their homes are worth as much as they were a few years ago. Also while the suburbs are still cheaper than the city - there is not as much of a windfall if they want to live in the nicer communities in Westchester, Long Island or Jersey. I'm not sure if they just haven't done their homework or what but some of them are moving into areas with mediocre to bad schools - which is fine if you have no kids but does little for resale value. Also history has a tendency to repeat itself. In the 80's the Japanese bought up NYC real estate just before it tanked. Let's see what happens to the Europeans in the 00's.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-76079805691743226702007-12-29T15:27:00.000+00:002007-12-29T15:27:00.000+00:00Dali said...Your currency is becoming fiat.Hell, y...Dali said...<BR/>Your currency is becoming fiat.<BR/>Hell, you haven't used cash for 50 years. Your all about debit and credit right from rag mama to the fed.<BR/>What's it, 14 trillion and counting now?<BR/><BR/>1)Dali, is yo mama a llama?<BR/><BR/>2) Behind the greenback there is a force called,<BR/>Creativity, Productivity and a drive to succeed.<BR/><BR/>3) The fossil fuel deposits underneath your dry land and underneath your Self-destructive societies, is being drained by your rulers, and the proceeds are used to keep you down.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-88979154011030408552007-12-29T13:58:00.000+00:002007-12-29T13:58:00.000+00:00Rank Country GDP/capita Year1 Luxembourg 102284 20...Rank Country GDP/capita Year<BR/><BR/>1 Luxembourg 102284 2006<BR/>2 Norway 79154 2005<BR/>3 Qatar 70754 2006<BR/>4 Iceland 62976 2006<BR/>5 Ireland 58883 2006<BR/>6 Denmark 57035 2006<BR/>7 Switzerland 56711 2006<BR/>8 Sweden 47069 2006<BR/>9 United States 45594 2006<BR/><BR/>(Wikipedia)<BR/><BR/>And sinking fast...<BR/><BR/>------------------------------<BR/><BR/>Oh please. <BR/><BR/>Norway and Qatar's current wealth is due to oil a $100 as both are huge exporters of oil. Switzerland and Luxembourg have always been at the top of this list. Both are little more than a safe haven for money laundering. Their combined GDP is smaller than most US states.<BR/><BR/>Iceland? OK sure whatever. If I want to live in ten below weather I'll pack up my bags ASAP. Ireland? Can you say housing bubble twice the size (relatively speaking) of the US housing bubble? Their 2006 GDP was all built on housing. In 2007 and 2008 those numbers will drop by huge amounts.<BR/><BR/>Stop listening to all the dailykos loons out there and do a little thinking for yourself.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1329136364222036042007-12-29T11:57:00.000+00:002007-12-29T11:57:00.000+00:00check out this linkhttp://www.greenmarkinvestments...check out this link<BR/><BR/>http://www.greenmarkinvestments.com/wholesale_homes.htm?page=6&pagegroup=1<BR/><BR/>50 cents mansions asking price is 12MM ? I thought he was asking 20MM for it.<BR/><BR/>Now that site is a wholesale homes site, do you get a 50% discount when you buy homes at wholesale ?<BR/><BR/>If you buy a mansion for half off can you live in it ?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-75884082071846967952007-12-29T08:21:00.000+00:002007-12-29T08:21:00.000+00:00Le scenario …Tomorrow, or in a decade or so, thewe...Le scenario …<BR/>Tomorrow, or in a decade or so, the<BR/>weight of USBS will cause a 1200 km<BR/>tear in the Pacific floor that will shear through at least one undersea solid methane field,<BR/>causing sublimation of megatons<BR/>of solid methane(no,not meth)<BR/>into tropospheric vapor.<BR/><BR/>This might result in detonations<BR/>on the gigaton scale, but at the<BR/>least, it would turn the current<BR/>global warming crisis into<BR/>something closer to Waterworld.<BR/>[cue 'Night on Bald Mountain']<BR/><BR/>Then dry land and dwelling prices would spike into the methanized stratosphere, payable only in food<BR/>and weapons.<BR/><BR/>Got cammies and flint ?<BR/>Where's nuclear winter when<BR/>you need it ?edd brownehttps://www.blogger.com/profile/08825894326281481673noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-6122825147738347792007-12-29T07:25:00.000+00:002007-12-29T07:25:00.000+00:00I WIL NOT pretend I’m a realtor. There are enough...I WIL NOT pretend I’m a realtor. There are enough people pretending already!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-20355727259938198252007-12-29T05:34:00.000+00:002007-12-29T05:34:00.000+00:00because lereah said so.because lereah said so.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-43644757973389261472007-12-29T05:15:00.000+00:002007-12-29T05:15:00.000+00:00God is not making any more land! If you are rentin...God is not making any more land! If you are renting, then you are just throwing your money away!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-35661306103112089872007-12-29T05:14:00.000+00:002007-12-29T05:14:00.000+00:00America is the greatest country in the world. Fore...America is the greatest country in the world. Foreigners put their faith in us and the real estate market won't get any cheaper. This is a buying opportunity. You should always buy on the dips. Come on, it takes courage to buy when other's are so pessimistic but this the point where you will make lots of money hand over fist.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-5121703950404624172007-12-29T04:30:00.000+00:002007-12-29T04:30:00.000+00:00Keith, it's posts like this that make HP the essen...Keith, it's posts like this that make HP the essential bubble blog. Superb, sir!christiangustafsonhttps://www.blogger.com/profile/07216348353801614419noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-61190344818689933462007-12-29T04:23:00.000+00:002007-12-29T04:23:00.000+00:00It's a new paradigm, and everybody who doesn't buy...It's a new paradigm, and everybody who doesn't buy, now, will be priced out forever. Anybody who does buy will be rewarded with a lifetime of riches, as their property will continue its 30% yearly price increase.<BR/><BR/>Renters, and anybody born in a future generation, will not be able to afford a $10,000,000 starter home in 15 years. They will live in <A HREF="http://features.us.reuters.com/cover/news/D8C99CD0-AF35-11DC-9E67-616F0DA5.html" REL="nofollow">tent cities</A>, and <A HREF="http://www.imagedump.com/index.cgi?pick=get&tp=10863" REL="nofollow">Hondas</A>.<BR/><BR/>This asset bubble is different than all of the others - it will never slow down, or pop. The gains are permanent.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-17302332394111969752007-12-29T04:06:00.000+00:002007-12-29T04:06:00.000+00:00"This unit is a steal at twice this price! They ar..."This unit is a steal at twice this price! They aren't making these anymore, NO SIRREE!!! They can't, The builder Folded.<BR/><BR/>Honestly, you have to buy this unit. I only have 4 packs of Ramen and one kidney left!"Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-89629144496547533632007-12-29T04:02:00.000+00:002007-12-29T04:02:00.000+00:00What do you think of the fractional ownership comp...What do you think of the fractional ownership component, it is starting to pop up on a lot of highend home properties, example for 2MM you can live in a 12MM estate all taxes fees maintence paid for, you can live there for 2 months out of evey year.<BR/><BR/>Do you think this new idea will keep the prices up ?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-61771235312133240352007-12-29T03:55:00.000+00:002007-12-29T03:55:00.000+00:00anonymous "Or are you just suggesting that the US ...anonymous<BR/> "Or are you just suggesting that the US dollar will be the only paper currency to decline and foreign currencies will somehow remain strong?"<BR/><BR/>Your currency is becoming fiat.<BR/>Hell, you haven't used cash for 50 years. Your all about debit and credit right from rag mama to the fed.<BR/>What's it, 14 trillion and counting now?Dalihttps://www.blogger.com/profile/04369213400076173427noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-46288720172769238972007-12-29T02:48:00.000+00:002007-12-29T02:48:00.000+00:00Tell us why we should buy that depreciating debt-t...<I>Tell us why we should buy that depreciating debt-trap even though it's significantly cheaper to rent.</I><BR/><BR/>Several reasons:<BR/><BR/>1) It's a buyer's market, but hurry because it will be a seller's market soon.<BR/><BR/>2) Largest inventory on record, resulting in wide selection. The selection won't last forever!<BR/><BR/>3) Interest rates near historic lows; won't stay low forever; better hurry before they go up.<BR/><BR/>4) Renting is just throwing money away; why not use that money for the mortgage instead?<BR/><BR/>5) All real estate is local. The majority of markets in the US are still going up in price, not down.<BR/><BR/>6) 2008 should be the rebound year, especially during the spring selling season. Prices will bounce back and continue to go up at that point. We are at a bottom now.<BR/><BR/>Yes, none of these reasons are logical or sensible, but expect to hear them from realtors, the media, and their ilk.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-71969805841560502652007-12-29T02:26:00.000+00:002007-12-29T02:26:00.000+00:00Well they aren't making anymore land right?Of cour...Well they aren't making anymore land right?<BR/><BR/>Of course you're buying a HOUSE<I>(which they are making lots more of)</I> not land so ummm....<BR/><BR/>Hey look over there! Bunnies!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-48748203680196000472007-12-29T02:17:00.000+00:002007-12-29T02:17:00.000+00:00free whine and cheeezzz for life! Oh and its WHOLE...free whine and cheeezzz for life! Oh and its WHOLE FOODS whine and cheeeezzzz so its organic.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-76219476067429023522007-12-29T02:03:00.000+00:002007-12-29T02:03:00.000+00:00Anonymous at 6:22 "Oooh yeah,The great myth that p...Anonymous at 6:22 <BR/><BR/>"Oooh yeah,<BR/>The great myth that people in other countries are better off then we are."<BR/><BR/>Rank Country GDP/capita Year<BR/><BR/>1 Luxembourg 102284 2006 <BR/>2 Norway 79154 2005 <BR/>3 Qatar 70754 2006 <BR/>4 Iceland 62976 2006 <BR/>5 Ireland 58883 2006 <BR/>6 Denmark 57035 2006 <BR/>7 Switzerland 56711 2006 <BR/>8 Sweden 47069 2006 <BR/>9 United States 45594 2006 <BR/><BR/>(Wikipedia)<BR/><BR/>And sinking fast...Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-29703870108456249512007-12-29T01:26:00.000+00:002007-12-29T01:26:00.000+00:00Because if you by now it shows you have BIG BRASS ...Because if you by now it shows you have BIG BRASS BALLS!Anonymousnoreply@blogger.com