tag:blogger.com,1999:blog-18675105.post8347466597107919041..comments2023-12-30T10:06:37.450+00:00Comments on HousingPANIC - The Housing Bubble Blog with an Attitude Problem, 2005 - 2008: "Home Rage": Banks are now offering foreclosed homedebtors cold hard cash to not destroy their homes before they clear outbloggerhttp://www.blogger.com/profile/06585266242070350399noreply@blogger.comBlogger37125tag:blogger.com,1999:blog-18675105.post-59720609453466560982008-08-28T18:59:00.000+01:002008-08-28T18:59:00.000+01:00I've shown my friends in countries that are 1-2 ye...I've shown my friends in countries that are 1-2 years behind the USA (ie. their housing is still rising). I'm in Moscow now, where you can buy a one bedroomed 1960s "Kruschev-slum" house (yes this is what Russians call them!) for $US600,000. I try and tell Russians that this is insane and you are going to lose your money, but the viscious cycle is here - The agent who gives the owner the biggest sale-price gets the listing, this agent gets a valuation reflecting this price for the buyer's bank. No money down... (does this sound familiar???)Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-47411392746199848462008-08-23T06:09:00.000+01:002008-08-23T06:09:00.000+01:00To Homeowners: Destroying these properties decreas...To Homeowners: Destroying these properties decreases the value of YOUR home because they sell for lessand are used for comps in the area!<BR/>To Future Landlords: These people that were foreclosed upon, if they don't pay the rent and need to be evicted, they will trash YOUR house too!<BR/>To Banks that foreclose: Why not offer a good letter of reference to the owner being foreclosed upon so that they can rent elsewhere?<BR/>Why does money always speak, but reputation means NOTHING?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-72067969180204158802008-05-27T08:26:00.000+01:002008-05-27T08:26:00.000+01:00wall street is gonna get your money one way or ano...wall street is gonna get your money one way or another<BR/> http://tinyurl.com/57t4utAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-24521514885562660792008-03-31T14:35:00.000+01:002008-03-31T14:35:00.000+01:00Hilarious. Living on 2+ acres has so many advantag...Hilarious. Living on 2+ acres has so many advantages. This is one of them. Those who bought turd homes in cookie cutter neighborhoods were retarded to begin with.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-32710623833201878742008-03-31T01:25:00.000+01:002008-03-31T01:25:00.000+01:00"not to destroy THEIR homes"let me get this straig..."not to destroy THEIR homes"<BR/>let me get this straight...who owns the house/land? isnt that one of the great arguments against renters..that if you buy you can paint the walls? how is this any different? let's say you 'take' the appliances? who's to say they were there in the first place. or what if the appliances arent as good as the they were when you bought. does the lender have some kind of recourse or something in writing that the house must maintain 'x condition'?<BR/><BR/>this is completely bogus...the lender has no finite condition the house must maintain. <BR/>the collateral is basically the land when you take out a mortgage, they cannot expect the house to be whatever condition they want. <BR/><BR/>good for these guys, stuff the banks!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-73133321218750538112008-03-30T23:27:00.000+01:002008-03-30T23:27:00.000+01:00I am a cop in Chicago. I have seen numerous homes ...I am a cop in Chicago. I have seen numerous homes in which the "owners" or home debtors were forced to leave by the bank. Then the bank locks up their property. Then, someone (most likely the former home debtor) breaks into the house and opens up the water from the basement and the entire basement ends up flooding and they also do other devious things. Then someone notices there was a break in and calls the cops. We go to the location and see the destruction. So far I have seen about three homes in which someone purposefully turned on the water in the basement and this caused a lot of damage and also they did other damage like pour motor oil all over the house.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-15295147250443856832008-03-30T22:26:00.000+01:002008-03-30T22:26:00.000+01:00America has become a society with a very large per...America has become a society with a very large percentage of sociopaths. The house next to my girlfriends has been in the process of being stripped for the past 3-4 weeks. I called the police on the crew that was obviously hired to take anything of value out of the place. The police showed up, nothing was done and the looting continues. We will all pay for this as the lender (Washington Mutual in this case) gets bailed out.stocksystmhttps://www.blogger.com/profile/15585696725702649951noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-69898203387977959772008-03-30T21:31:00.000+01:002008-03-30T21:31:00.000+01:00They are only going to buy a Plasma with it - or d...They are only going to buy a Plasma with it - or drink it, so dont worry about it. Like sand through their fingersAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-6263552994115043442008-03-30T19:56:00.000+01:002008-03-30T19:56:00.000+01:00"Forget trashing their home they should be out tra..."Forget trashing their home they should be out trashing their REALTOR'S home"<BR/><BR/><BR/>You got that RIGHT !!!!!!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-71843734786691947782008-03-30T19:36:00.000+01:002008-03-30T19:36:00.000+01:00what would jesus do to the house."You have heard t...<B>what would jesus do to the house.</B><BR/><BR/><I>"You have heard that it was said, 'Eye for eye, and tooth for tooth.'But I tell you, Do not resist an evil person. If someone strikes you on the right cheek, turn to him the other also. And if someone wants to sue you and take your tunic, let him have your cloak as well. If someone forces you to go one mile, go with him two miles. Give to the one who asks you, and do not turn away from the one who wants to borrow from you.</I><BR/><BR/>Jesus, Sermon on the Mount<BR/><BR/><I>For by the grace given me I say to every one of you: Do not think of yourself more highly than you ought, but rather think of yourself with sober judgment, in accordance with the measure of faith God has given you.</I><BR/><BR/>Paul, Epistle to the Romans<BR/><BR/><I>Cause you are special, special, everyone is special, everyone in his or her own way!</I><BR/><BR/>Barney the Dinosaur, Television<BR/><BR/><A HREF="http://www.youtube.com/watch?v=Kv52oVIcUKk" REL="nofollow">60 Minutes on 'Millenials', Part 1</A><BR/><BR/><A HREF="http://www.youtube.com/watch?v=hyVwY5b6-1g" REL="nofollow">60 Minutes on 'Millenials', Part 2</A>Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-29713310338681942572008-03-30T18:59:00.000+01:002008-03-30T18:59:00.000+01:00.afterthought said, excellent!.<BR/><BR/><BR/>afterthought said,<BR/><BR/><BR/> excellent!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-56646701728540557042008-03-30T18:57:00.001+01:002008-03-30T18:57:00.001+01:00"Is Home Rage Connected to Road Rage"? You bet.Yo..."Is Home Rage Connected to Road Rage"? <BR/><BR/>You bet.<BR/><BR/>You'll see more speeding, quick lane changing and cursing as well.<BR/><BR/>~~~~~<BR/><BR/> Anonymous said... <BR/>Is Home Rage connected to Roid Rage?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-48696808523847306692008-03-30T18:57:00.000+01:002008-03-30T18:57:00.000+01:00."We will pay you to not destroy this property"!So....<BR/><BR/><BR/>"We will pay you to not destroy this property"!<BR/><BR/>Sounds like extortion to me... only in reverse!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-49613509395353766822008-03-30T18:54:00.000+01:002008-03-30T18:54:00.000+01:00"A Win-Win Situation??"What a bunch of vultures, w..."A Win-Win Situation??"<BR/><BR/>What a bunch of vultures, what bullox.<BR/><BR/>The *only* people winning here are the banks - they don't lose, and any losses they can write off.<BR/><BR/>The house debter has to walk away and start over as a somewhat poorer renter than before.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-40143894663903849592008-03-30T18:51:00.000+01:002008-03-30T18:51:00.000+01:0050+ community!BOOMERS!50+ community!<BR/><BR/>BOOMERS!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-14896729302344801852008-03-30T17:24:00.000+01:002008-03-30T17:24:00.000+01:00Bear in mind the source of this report. It's like ...Bear in mind the source of this report. It's like the bank manager telling the police and insurance company that the bank robber made off with $1,000,000 in 5's and 10's stuffed into her handbag.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-56736310390053016602008-03-30T16:10:00.000+01:002008-03-30T16:10:00.000+01:00Take it out on George W. Bush, Cheney and Greenspa...Take it out on George W. Bush, Cheney and Greenspan.<BR/><BR/>Guilty. Now on to punishment...Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-37595720922256654672008-03-30T15:40:00.000+01:002008-03-30T15:40:00.000+01:00DUDEShaksterDUDE<BR/><BR/><BR/>ShaksterAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-69075928983234120322008-03-30T15:22:00.000+01:002008-03-30T15:22:00.000+01:00what would jesus do to the house.what would jesus do to the house.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-35479670525353034892008-03-30T15:08:00.000+01:002008-03-30T15:08:00.000+01:00So why aren't these people being arrested and pros...So why aren't these people being arrested and prosecuted? Certainly local governments STILL have that authority, and these people are guilty of felonies. They belong in prison. Those who abandon pets should be prosecuted even faster. What trash.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-87262150547429678202008-03-30T14:53:00.000+01:002008-03-30T14:53:00.000+01:00I was in ft. lauderdale and south beach the past f...I was in ft. lauderdale and south beach the past few days and boy is it bad down there. The Sunday Miami Herald had a 3 inch by 3 inch bright yellow sticker plastered on the front section for 200 bank-owned houses going to auction (miamihouseauction.com). I've never seen anything like that before for a major newspaper...a special auction sticker on the front section!? <BR/><BR/>In the pullout real estate guide there were some choice ads:<BR/><BR/>"Why buy when you can rent?" (this one was put in by a Realtor!).<BR/><BR/>"Bank Owned" - "Use my money and make millions. I am known to accept even unreasonable offers"<BR/><BR/>"Bank Owned" - "Don't be bashful - offer any price, any terms".<BR/><BR/>Foreclosed Home Auction: Over 875 homes must be sold. (ushomeauction.com)<BR/><BR/>There was lots of "Reduced" and "New Price" language in the ads.<BR/><BR/>On the way to the ft. lauderdale airport there were two condo buildings advertising units with small sized balloons on their roofs that said "From the $120s". I mean, that is so cheesy...they must be so desperate to promote their units in that fashion.<BR/><BR/>Also, there were lots of articles in the Miami Herald over the time I was there about how housing is imploding in florida and that it is leading the rest of the country because it got so out of control there. There's definitely panic in the air.<BR/><BR/>It's funny though; I was talking to a guy who lives in jacksonville and he thought that the worst of the crisis was over...a smart, up-beat guy..a lawyer; definitely sharp guy. I told him the worst has not hit and went into all the reasons why...he got a bit somber by the end of my explanation and said "well, it's good to get the bear perspective", meaning: while he heard me he didn't agree with me. clearly he's still in the denial stage...perhaps he heloc'd and doesn't want to face the music just yet...or he bought high and is upside down now in a big way....Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-89214187201385605622008-03-30T14:36:00.000+01:002008-03-30T14:36:00.000+01:00Virtue:There is no conception of manhood that does...Virtue:<BR/><BR/>There is no conception of manhood that does not involve self-sacrifice.<BR/><BR/>America has been sold via Hollywood a culture of Me first! That may work for children;but real men know the score. Life isn't about you AT ALL! It's about family, and community.<BR/><BR/>The Ayn Rand society is unnatural and won't work.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-23004377014360300972008-03-30T14:24:00.000+01:002008-03-30T14:24:00.000+01:00"Does anyone else see the moral hazard in paying p..."Does anyone else see the moral hazard in paying people to obey the law and do the ethical, legal and moral thing?"<BR/><BR/>no; I don't see a moral hazard here.<BR/><BR/>a small payment is much cheaper than a court case which would seek "pain and suffering" money from the predatory lends.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-36689770388601644512008-03-30T13:55:00.000+01:002008-03-30T13:55:00.000+01:00This is what happens when you make interest-only, ...This is what happens when you make interest-only, no-money-down loans to white trash. Maybe banks will now learn from their mistakes and require 20% down like they did for many years.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-22648038481531267682008-03-30T13:53:00.000+01:002008-03-30T13:53:00.000+01:00"It's a win-win" is a cliche used by people who ca..."It's a win-win" is a cliche used by people who cannot think too deeply.Anonymousnoreply@blogger.com