Southern California Housing Wipeout: Prices Plunge 27% or $135,000 in the past 12 months

For those of you keeping score at home, THAT'S $370 PER DAY OR $11,250 A MONTH!

Should have rented... Should have listened to HP, and not a realtor on commission..

Thank you Lawrence Yun.

Thank you David Lereah.

Thank you Leslie Appleton-Young.

Thank you Connie DeGroot.

Thank you Mike Norman.

Thank you Tom Adkins.

Thank you to the lying, deceitful, self-serving, ignorant and now ramen-eating and forever discredited army of six percenters.

You can all go home now (if you still have a home). Your services are no longer needed.

SoCal Home Prices Plunge 27% in May

Housing prices across Southern California plunged a record 27% in May, signaling that more trouble lies ahead for builders and lenders exposed to the region.

Sales volume in the market fell 15% from a year ago, marking the slowest May in more than 20 years, according to DataQuick Information Systems.

The median price fell to $370,000 from $505,000 in the counties of Los Angeles, Orange, Riverside, San Bernardino, San Diego and Ventura.

SCHIFF!! SCHIFF!! SCHIFF!! SCHIFF!!

What, no more Mike Norman, Connie De Groot or Tom Adkins on Fox?

Wait until 4:08 on this video when one of the 'experts' goes nuclear on Schiff for speaking the truth.

Schiff. Norman. Adkins. Adkins' wife's channel Fox Business. Some white guy. Youtube video. Nuff said.

You can watch the six-parts on youtube or the full thing here.

10% is in the bag! Enjoy!

Here's Mike Norman, the "Economic Contrarian" and Peter Schiff's poodle, writing in 2004 on how the Euro was going to lose value to the dollar. OOPS!!

Euro/Dollar

Seriously, if there's one person out there, just one, who listens to anything Mike Norman says and follows it, or god forbid pays for his advice, LET THIS BE YOUR WARNING - MIKE NORMAN IS THE TOWN IDIOT. PROBABLY THE MOST DISCREDITED "FINANCIAL ANALYST" IN AMERICA TODAY.

MIKE NORMAN IS A FOOL, A HACK, AN IDIOT AND A CONMAN (in my first-amendment-protected personal opinion). Here's the latest Schiff smack-down of Norman and his curly haired realtor fool buddy Tom Adkins on Fox News too.

Mike Norman doesn't understand basic Econ 101 folks. He IS a contrarian though - whatever he says will happen, the EXACT opposite thing happens. If you invest with Norman, you're screwed.

Here you go HP'ers. Enjoy the laugh. And thanks Eric for the link. Feel free to contact Norman here, just to rub it in.

September 16, 2004
Rise in the Euro Over
by Mike Norman

You should start shorting the euro--aggressively--on any rallies now. It is going a lot lower.

With the Stability Pact now (de-facto) dead, the euro will begin a long-term decline. THIS IS A MAJOR TRADE!!!

It's the dumbest guy in the room, Mike Norman the "economic contrarian", vs. Peter Schiff. Yup, we all know how this one turns out..

Ever get into an argument with someone with an extremely low IQ, with no education, and who will always think he's right no matter what the data or the science prove?

Peter Schiff has to do this every time he goes on Faux News and argues economics against a mental midget like Mike Norman. God bless Peter Schiff. I wouldn't have the patience or compassion to have a discussion with an empty suit like Mike Norman.

It is funny how the fool who's been wrong on everything still doesn't realize that he's a fool. It's fun to watch, in a painful way.

HP Hero Peter Schiff destroys HP's new "Biggest Idiot in the Room" candidate Mike Norman, the "Economic Sheep" on this Fox News video

Hey, it's gotta be tough to be a discredited idiot like Mike Norman. When you've been proven wrong on everything, and I mean EVERYTHING, and your nemesis has been proven right on everything, and I mean EVERYTHING, you should just shut it all down and go home. Or I guess these days you go on Fox TV and make yourself look even dumber.

The funniest thing is that Mike Norman, the "Economic Contrarian", actually tries to charge people for his bad advice. "Economic Contrarian"? Man, Schiff is the true economic contrarian, and people who listened to him made a fortune and protected their wealth. Norman on the other hand is the biggest sheep there is. "Mike Norman - the Economic Sheep". Yup, that's more like it. Remember this is the same guy who thought a 10% rise in houses prices was in the bag this year. Whoops.

Watch this video. It's hot. Damn, I love Schiff. Dude is right. Dead right. Invest with him. And Mike Norman is The Biggest Idiot in the Room. Here's a bit of the transcript:

Schiff: "If you're the typical American who has dollar income who has dollar based investments, your wealth is evaporating.

Norman, The Economic Sheep: "It's not evaporating. That's total disinformation"

Schiff: "For years I've watched you on television tell people that oil was going to go down, that gold was going to go down, that the dollar was going to go up, you've been dead wrong on everything on every prediction you've ever made, and you're criticizing me?"

Norman, The Economic Sheep "You're a peddler of disinformation"