MESSAGE TO THE MAINSTREAM MEDIA: People who have mortgages are not "homeowners". They are "homedebtors" or "people with mortgages". GET IT RIGHT!!!

You can't bail out a "homeowner". They truly own their homes.

You can't assist a "homeowner" with a mortgage - they don't have mortgages.

You generally can't kick a "homeowner" out of their home - they own it.

"Homeowners" don't have toxic loans, and haven't been taken advantage of by unscrupulous mortgage brokers. Again, they own their homes.

Stop insulting true homeowners. Stop confusing owners with "debtors". And start doing a better f*cking job. You are failing America.

Peace out.

Phoenix new home price now down 25% or $75,000 from bubble peak. And anyone who listened to realtors on commission these past few years got killed

Man, $75,000 in a matter of months, that's just brutal... No matter how the Arizona Republic's Rolodex-of-Realtors Catherine Reagor (she's still employed?), Phoenix realtors on commission or RL Brown wants to spin it.

If you listened to the new-home-ad-supported Arizona Republic or Reagor's always-good-for-a-quote realtor buddies these past few years and stupidly bought a new home in Phoenix, you simply got destroyed.

Here's the latest from Housing Ponzi Scheme Ground Zero, Phoenix Arizona:

Valley new-home permits dip during Feb.

Home-building was down 64 percent from a year earlier, and sales were off by 38 percent.

New-home building permits and sales across the Valley both dropped slightly in February, according to RL Brown's Phoenix Housing Market Letter. Brown said the continued slowing in permits and sales is expected as builders sell off existing speculatively built homes.

The median new-home price in the Valley fell to $225,000 last month, compared with $231,000 in January. In 2006, the Valley's median price hit $300,000.

And here again are the immortal words of a ramen-eating Phoenix six-percenter, the most discredited realtor in America who is still allowed to pollute the Arizona Republic, who has yet to admit to how horribly wrong he was or apologize to HP'ers, Phoenicians or his former clients.

The BubbleBloggers will someday bawl balefully in private, but they will never, ever admit that they have been very publicly very foolish.

You will know and I will know and in the secret chambers of their hearts they will know they were wrong all along. But as long as you don't hold your breath waiting for that contrite admission of error, you should be fine.

HousingPANIC Quote of the Day

"Realtors have to remember they work for us not the other way around. They will get paid what WE decide to pay them and right now good luck getting your 6%. You will get it from the uninformed but those days are numbered. People are sick and tired of getting ripped off."

- Anon poster on that hilarious realtor thread about charging 6%, March 2008

The banks will fail. The taxpayers will bail them out. Their shareholders will be crushed. The dollar will fall. It's just the way it's gonna be.

"If the government must bail the bank out … it should basically wipe out the management and wipe out the shareholders"

- David Beim, Columbia University, March 2008

"There probably will be some bank failures"

- Federal Reserve Chairman Ben Bernanke, February 2008

"There is a strong need for urgent action. I would be very, very seriously considering the possibility of using public funds in one form or another."

-Former Treasury Secretary and current Citigroup whore Robert Rubin, March 2008

HousingPANIC Stupid Question of the Day

Will US house prices now actually over-correct - where they end up falling below the historical mean?

That's it. Enough is enough. It's time to call for a boycott of communist China's propaganda Olympics, and a worldwide boycott of Chinese goods

Any advertiser who associates their brand with the Chinese Olympics should be boycotted.

Any US politician who goes to the Olympics should be voted out of office.

Any country or athlete who participates without protest is complicit.

Any anytime you buy a Chinese product, you endorse China's murderous leadership, you endorse house-to-house searches for protesters, you endorse fear and intimidation and murder, and you endorse evil.

The people of the world can rise up together, and end this brutality in Tibet and within China. The leaders of the world can thumb their noses at the evil cabal in Beijing and embarrass and shame them on the world stage for all to see. And the people of China can rise up, overthrow their corrupt leaders, put them in jail or string them up, and become the free and powerful capitalist democracy that they're destined to be.

Play a role HP'ers. Question your previous thinking and behavior. Do the right thing.

BEIJING - The flagship newspaper of China's ruling Communist Party called Saturday for efforts to "resolutely crush" anti-government demonstrations by Tibetans, while Beijing urged people to turn in those on a "Most Wanted" list of 21 protesters.

"We must see through the secessionist forces' evil intentions, uphold the banner of maintaining social stability ... and resolutely crush the 'Tibet independence' forces' conspiracy," the People's Daily said in an editorial.

Matching up the Seven Deadly Sins and the Late Great Housing Bubble

Lust (MTV Cribs, Housing Ladder, Flip This House)

Gluttony (McMansions, Angelo Mozilo, Hummers)

Greed (Option-ARM, no-down mortgages, Greg Swann talking about how rich he was going to get)

Sloth (Casey Serin, mortgage brokers, realtors, flippers)

Anger (Wives angrily bullying their husbands (or visa versa) into stupid housing decisions, Suzanne researched it, realtors striking out at the bubble bloggers and media)

Envy (Pottery Barn, Restoration Hardware, poor people buying rich people houses)

Pride (talking about your house, how much it appreciated, and you possessions everywhere you went)